Lisbon Farmers Union Credit Union
- Assets
- $4.7m
- Revenue
- $206.7k
- Investments
- $0.0
- Employees
- 2
- Location
- Lisbon, ND
- Founding
- 02/1949
- Data as of
- 12/2022
- EIN
- 45-0273189
Organization Overview
Lisbon Farmers Union Credit Union is located in Lisbon, ND. The organization was established in 1949. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2022, Lisbon Farmers Union Credit Union employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lisbon Farmers Union 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 12/2022, Lisbon Farmers Union Credit Union generated $206.7k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of 0.0% each year. All expenses for the organization totaled $250.6k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (1.0%) per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION IS A MEMBER OWNED CREDIT UNION THAT PROVIDES SAVINGS AND LOAN OPTIONS FOR ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION IS A MEMBER OWNED CREDIT UNION THAT HAS PROVIDED SAVINGS AND LOAN OPTIONS FOR ITS MEMBERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dan Wagner Treasurer | OfficerTrustee | 40 | $86,856 |
Connie Gilbert Director | Trustee | 1 | $750 |
Larry Carter Director | Trustee | 1 | $700 |
Tim Rehborg Director | Trustee | 1 | $650 |
Wilfred Anderson Director | Trustee | 1 | $650 |
Owen Trangsrud President | OfficerTrustee | 8 | $600 |
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 | $205,228 |
| Investment income | $1,459 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $206,687 |
| 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. | $91,956 |
| Compensation of current officers, directors, key employees. | $8,686 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $21,980 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $8,286 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,159 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $830 |
| Advertising and promotion | $5,098 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $3,929 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $591 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,846 |
| Insurance | $3,892 |
| All other expenses | $11,911 |
| Total functional expenses | $250,608 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $152,097 |
| Savings and temporary cash investments | $1,948,972 |
| 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 | $2,494,242 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $58,848 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $15,921 |
| Total assets | $4,670,080 |
| Accounts payable and accrued expenses | $1,056 |
| 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 | $1,942,603 |
| Total liabilities | $1,943,659 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $2,726,421 |
| 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 | $4,670,080 |