Hutchinson Government Employees Credit Union
- Assets
- $24.2m
- Revenue
- $1.3m
- Investments
- $250.0k
- Employees
- 11
- Location
- Hutchinson, KS
- Founding
- Data as of
- 12/2021
- EIN
- 48-0685152
Organization Overview
Hutchinson Government Employees Credit Union is located in Hutchinson, KS. As of 12/2021, Hutchinson Government Employees Credit Union employed 11 individuals. Hutchinson Government Employees 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, Hutchinson Government Employees Credit Union generated $1.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $1.2m during the year ending 12/2021. While expenses have increased by 4.1% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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 2,505 MEMBERS.
PROVIDES A SOURCE OF CREDIT TO MEMBERS AT A FAIR AND REASONABLE RATE OF INTEREST. AS OF DECEMBER 31, 2021, THERE WERE 1,722 LOANS OUTSTANDING TOTALING $14,589,007.
PAID DIVIDENDS ON MEMBER DEPOSITS TOTALING $105,293 FOR THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Roxane Medlam President (through 11/30/2021) | Officer | 40 | $61,906 |
Kory Phillips President (current) | Officer | 40 | $5,725 |
Kyle Finney Board Member | Trustee | 1 | $0 |
Michael Williams Vice Chairperson | Trustee | 1 | $0 |
Pam Moses Board Member | Trustee | 1 | $0 |
Greg Henke Chairperson | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,219 |
| 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 | $4,219 |
| Total Program Service Revenue | $1,247,137 |
| Investment income | $18,774 |
| 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 | $1,270,130 |
| 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 | $65,186 |
| Compensation of current officers, directors, key employees. | $73,724 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $268,630 |
| Pension plan accruals and contributions | $4,518 |
| Other employee benefits | $92,431 |
| Payroll taxes | $30,706 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,512 |
| Fees for services: Accounting | $10,108 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $182,100 |
| Advertising and promotion | $23,755 |
| Office expenses | $78,660 |
| Information technology | $88,212 |
| Royalties | $0 |
| Occupancy | $30,385 |
| Travel | $300 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,308 |
| Interest | $748 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $39,370 |
| Insurance | $11,802 |
| All other expenses | $8,751 |
| Total functional expenses | $1,171,361 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $289,942 |
| Savings and temporary cash investments | $8,729,967 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,429 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $14,285,521 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $24,507 |
| Net Land, buildings, and equipment | $162,850 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $250,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $462,460 |
| Total assets | $24,206,676 |
| Accounts payable and accrued expenses | $351,104 |
| 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 | $21,696,538 |
| Total liabilities | $22,047,642 |
| 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 | $2,159,034 |
| Total liabilities and net assets/fund balances | $24,206,676 |
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