Reliance Credit Union
- Assets
- $27.6m
- Revenue
- $990.2k
- Investments
- $0.0
- Employees
- 6
- Location
- Kansas City, KS
- Founding
- 01/1978
- Data as of
- 12/2023
- EIN
- 48-0466445
Organization Overview
Reliance Credit Union is located in Kansas City, KS. The organization was established in 1978. 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 12/2023, Reliance Credit Union employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Reliance 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 12/2023, Reliance Credit Union generated $990.2k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.3%) each year. All expenses for the organization totaled $984.0k during the year ending 12/2023. 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
2023
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 2,048 MEMBERS.
PROVIDES A SOURCE OF CREDIT TO MEMBERS AT A FAIR AND REASONABLE RATE OF INTEREST. AS OF DECEMBER 31, 2023, LOANS OUTSTANDING TOTALED $12,378,744, INCLUDING LOAN PARTICIPATIONS.
PAID DIVIDENDS ON MEMBER DEPOSITS TOTALING $86,416 FOR THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dana Gilbert Chairperson | Trustee | 2 | $0 |
Michael Anaya Vice Chairperson | Trustee | 2 | $0 |
Matt Krieg Treasurer | Trustee | 2 | $0 |
Jerry Schrick Secretary | Trustee | 2 | $0 |
Mark Glaspie Director | Trustee | 2 | $0 |
Julie Green Director | Trustee | 2 | $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 | $872,231 |
| Investment income | $148,081 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $4,686 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$34,839 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $990,159 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,500 |
| Grants and other assistance to domestic individuals. | $1,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $122,984 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $183,040 |
| Pension plan accruals and contributions | $8,817 |
| Other employee benefits | $62,595 |
| Payroll taxes | $23,958 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,383 |
| Fees for services: Accounting | $51,622 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $11,182 |
| Advertising and promotion | $9,618 |
| Office expenses | $174,573 |
| Information technology | $78,193 |
| Royalties | $0 |
| Occupancy | $11,157 |
| Travel | $120 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,053 |
| Interest | $79,071 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,218 |
| Insurance | $11,613 |
| All other expenses | $7,448 |
| Total functional expenses | $984,010 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $222,434 |
| Savings and temporary cash investments | $14,744,292 |
| 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 | $12,221,987 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $33,709 |
| Net Land, buildings, and equipment | $35,825 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $292,801 |
| Total assets | $27,551,048 |
| Accounts payable and accrued expenses | $124,886 |
| Grants payable | $0 |
| Deferred revenue | $2,100 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $8,166 |
| 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 | $23,950,712 |
| Total liabilities | $24,085,864 |
| 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 | $3,465,184 |
| Total liabilities and net assets/fund balances | $27,551,048 |