Hercules Credit Union
- Assets
- $65.9m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 16
- Location
- Salt Lake City, UT
- Founding
- Data as of
- 12/2016
- EIN
- 87-0237696
Organization Overview
Hercules Credit Union is located in Salt Lake City, UT. As of 12/2016, Hercules Credit Union employed 16 individuals. Hercules 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 12/2016, Hercules Credit Union generated $2.2m in total revenue. The organization has seen a slow decline revenue. Over the past 2 years, revenues have fallen by an average of (1.1%) each year. All expenses for the organization totaled $2.1m during the year ending 12/2016. 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
2016
Describe the Organization's Mission:
Part 3 - Line 1
NON-PROFIT CREDIT UNION
Describe the Organization's Program Activity:
Part 3 - Line 4a
NON-PROFIT FEDERALLY INSURED STATE CHARTERED CREDIT UNION
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brett M Blackburn President | Officer | 40 | $124,000 |
Roger Weir Director | Trustee | 1 | $0 |
Jeff Sorensen Director | Trustee | 1 | $0 |
Gerry Poulson Vice Chairman | Trustee | 1 | $0 |
Nancy Friel-Brooks Director | Trustee | 1 | $0 |
Brett Coates 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 | $2,224,991 |
| Investment income | $0 |
| 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 | $2,224,991 |
| 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. | $124,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $570,660 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $148,360 |
| Payroll taxes | $51,127 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $77,341 |
| Office expenses | $291,312 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $71,688 |
| Travel | $9,952 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,895 |
| Interest | $312,289 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $105,147 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,074,821 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $327,590 |
| Savings and temporary cash investments | $34,761,622 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $26,939,313 |
| Loans from Officers, Directors, or Controlling Persons | $575,982 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $118,211 |
| Net Land, buildings, and equipment | $830,800 |
| Investments—publicly traded securities | $10,000 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,327,344 |
| Total assets | $65,890,862 |
| Accounts payable and accrued expenses | $85,772 |
| 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 | $59,662,928 |
| Total liabilities | $59,748,700 |
| Unrestricted restricted net Assets | $0 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $6,142,162 |
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