Edison Credit Union
- Assets
- $0.0
- Revenue
- $770.5k
- Investments
- $0.0
- Employees
- 6
- Location
- Kansas City, MO
- Founding
- Data as of
- 06/2024
- EIN
- 44-0663838
Organization Overview
Edison Credit Union is located in Kansas City, MO. As of 06/2024, Edison Credit Union employed 6 individuals. Edison Credit Union is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.
For the year ending 06/2024, Edison Credit Union generated $770.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (4.4%) each year. All expenses for the organization totaled $1.2m during the year ending 06/2024. As we would expect to see with falling revenues, expenses have declined by (1.0%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HIGH QUALITY FINANCIAL SERVICES FOR OUR MEMBERS/OWNERS, ENHANCING THEIR FINANCIAL WELL-BEING WHILE MAINTAINING THE FINANCIAL STRENGTH OF THE CREDIT UNION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES FINANCIAL AND FINANCIALLY RELATED SERVICES TO 3,178 MEMBERS.
PROVIDES A SOURCE OF CREDIT TO MEMBERS AT A FAIR AND REASONABLE RATE OF INTEREST. AS OF JUNE 30, 2024, THERE WERE 719 LOANS OUTSTANDING TOTALING $18,923,349.
PAID DIVIDENDS ON MEMBER DEPOSITS TOTALING $36,284 FOR THE PERIOD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Quarles Chairman | Trustee | 1 | $0 |
Blain Hartkopp Vice Chairman | Trustee | 1 | $0 |
Larry Neidhart Secretary/treasurer | Trustee | 1 | $0 |
Delora Locker Director | Trustee | 1 | $0 |
Michael Long Director | Trustee | 1 | $0 |
Suzanne Layton Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $646,761 |
| Investment income | $127,080 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $3,983 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$7,314 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $770,510 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $381,512 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $168,820 |
| Pension plan accruals and contributions | $7,787 |
| Other employee benefits | $13,482 |
| Payroll taxes | $44,670 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $46,766 |
| Fees for services: Accounting | $7,329 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,975 |
| Advertising and promotion | $4,885 |
| Office expenses | $309,876 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $45,689 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $685 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $21,092 |
| Insurance | $13,555 |
| All other expenses | $17 |
| Total functional expenses | $1,176,370 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $0 |