Edison Credit Union
- Assets
- $35.2m
- Revenue
- $1.4m
- Investments
- $5.2m
- Employees
- 9
- Location
- Kansas City, MO
- Founding
- Data as of
- 12/2021
- EIN
- 44-0663838
Organization Overview
Edison Credit Union is located in Kansas City, MO. As of 12/2021, Edison Credit Union employed 9 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 12/2021, Edison Credit Union generated $1.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.9% each year. All expenses for the organization totaled $1.2m during the year ending 12/2021. 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
2021
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 3,455 MEMBERS.
PROVIDES A SOURCE OF CREDIT TO MEMBERS AT A FAIR AND REASONABLE RATE OF INTEREST. AS OF DECEMBER 31, 2021, THERE WERE 798 LOANS OUTSTANDING TOTALING $17,544,573.
PAID DIVIDENDS ON MEMBER DEPOSITS TOTALING $21,500.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Salvatore Nuccio President | Officer | 40 | $306,073 |
Suzanne Layton Director | Trustee | 1 | $0 |
Michael Long Director | Trustee | 1 | $0 |
Michael Quarles Chairman | Trustee | 1 | $0 |
Larry Neidhart Secretary/treasurer | Trustee | 1 | $0 |
Delora Locker 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 | $1,065,488 |
| Investment income | $344,506 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $9,693 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$4,961 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,414,726 |
| 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. | $176,908 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $319,906 |
| Pension plan accruals and contributions | $24,423 |
| Other employee benefits | $50,185 |
| Payroll taxes | $40,356 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,154 |
| Fees for services: Accounting | $19,195 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $9,678 |
| Advertising and promotion | $20,934 |
| Office expenses | $320,063 |
| Information technology | $975 |
| Royalties | $0 |
| Occupancy | $90,214 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,319 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $54,848 |
| Insurance | $23,972 |
| All other expenses | $5,916 |
| Total functional expenses | $1,244,351 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $479,350 |
| Savings and temporary cash investments | $8,277,864 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $357,189 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $17,506,894 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $177,013 |
| Net Land, buildings, and equipment | $356,559 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $5,207,823 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,879,775 |
| Total assets | $35,242,467 |
| Accounts payable and accrued expenses | $200,320 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $32,763 |
| 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 | $31,616,228 |
| Total liabilities | $31,849,311 |
| 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 | $3,393,156 |
| Total liabilities and net assets/fund balances | $35,242,467 |
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