Simplot Employees Credit Union
- Assets
- $23.0m
- Revenue
- $960.3k
- Investments
- $0.0
- Employees
- 13
- Location
- Caldwell, ID
- Founding
- Data as of
- 12/2021
- EIN
- 82-0374112
Organization Overview
Simplot Employees Credit Union is located in Caldwell, ID. As of 12/2021, Simplot Employees Credit Union employed 13 individuals. Simplot 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, Simplot Employees Credit Union generated $960.3k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $1.1m during the year ending 12/2021. While expenses have increased by 7.8% per year over the past 6 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
PROMOTING THE FINANCIAL WELL-BEING OF MEMBERS BY PROVIDING LOAN AND SAVINGS SERVICES AT COMPETITIVE RATES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SAVINGS, LOANS, AND INVESTMENTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ben Grayson Former CEO | 40 | $101,512 | |
Raelene Durant Board Chair | OfficerTrustee | 1 | $0 |
Sarah Dance Vice Chair | OfficerTrustee | 1 | $0 |
Gene Gallegos Director | Trustee | 1 | $0 |
Wendy Miller Director | Trustee | 1 | $0 |
Howard Skidmore 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 | $685,194 |
| Investment income | $94,631 |
| 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 | $960,278 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $382,262 |
| Pension plan accruals and contributions | $10,634 |
| Other employee benefits | $41,259 |
| Payroll taxes | $29,907 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $62,168 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,198 |
| Office expenses | $261,115 |
| Information technology | $32,062 |
| Royalties | $0 |
| Occupancy | $37,688 |
| Travel | $473 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $368 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $56,294 |
| Insurance | $21,161 |
| All other expenses | $116,455 |
| Total functional expenses | $1,055,044 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,429,639 |
| Savings and temporary cash investments | $4,732,753 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $32,251 |
| Loans from Officers, Directors, or Controlling Persons | $9,924 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $10,484,202 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $50,100 |
| Net Land, buildings, and equipment | $972,479 |
| Investments—publicly traded securities | $3,201,870 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $64,534 |
| Total assets | $22,977,752 |
| Accounts payable and accrued expenses | $34,834 |
| 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 | $34,834 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $19,696,776 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $3,246,142 |
| Total liabilities and net assets/fund balances | $22,977,752 |
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