Benton County Schools Credit Union
- Assets
- $65.2m
- Revenue
- $2.3m
- Investments
- $0.0
- Employees
- 9
- Location
- Corvallis, OR
- Founding
- 10/1944
- Data as of
- 12/2023
- EIN
- 93-0465079
Organization Overview
Benton County Schools Credit Union is located in Corvallis, OR. The organization was established in 1944. 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, Benton County Schools Credit Union employed 9 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Benton County Schools 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, Benton County Schools Credit Union generated $2.3m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 6.3% each year. All expenses for the organization totaled $1.8m during the year ending 12/2023. While expenses have increased by 4.3% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
STATE OF OREGON CHARTERED CREDIT UNION. PROVIDE FINANCIAL SERVICES TO 2,220 MEMBERS. THESE SERVICES INCLUDE, BUT ARE LIMITED TO PROVIDING REAL ESTATE AND OTHER SECURED/UNSECURED LOANS AND VARIOUS SAVINGS PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CREDIT UNION PROGRAMS: 2,220 MEMBERS SERVED WITH 3,364 SAVINGS ACCOUNTS ESTABLISHED AND 214 CERTIFICATES OF DEPOSIT. FUNDED 1,574 LOANS TO MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Harold F Brauner Chairperson | OfficerTrustee | 1 | $0 |
Margaret S Dusek Vice Chair | Trustee | 1 | $0 |
Joe R Tofte Second Vice Chair | Trustee | 1 | $15,604 |
Kevin Decoster Secretary | Trustee | 1 | $0 |
Dorothy Gallagher Treasurer | Trustee | 1 | $0 |
Amanda Held CEO | Officer | 40 | $63,198 |
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 | $1,437,038 |
| Investment income | $826,884 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $50,249 |
| 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 | $2,314,171 |
| 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. | $256,184 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $227,001 |
| Pension plan accruals and contributions | $22,273 |
| Other employee benefits | $51,670 |
| Payroll taxes | $33,402 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,940 |
| Fees for services: Accounting | $20,046 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $980 |
| Fees for services: Other | $20,495 |
| Advertising and promotion | $83,097 |
| Office expenses | $101,359 |
| Information technology | $150,063 |
| Royalties | $0 |
| Occupancy | $101,607 |
| Travel | $29,679 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,339 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $134,878 |
| Insurance | $30,598 |
| All other expenses | $17,412 |
| Total functional expenses | $1,762,569 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $827,661 |
| Savings and temporary cash investments | $5,624,059 |
| 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 | $32,513,617 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $157,322 |
| Net Land, buildings, and equipment | $2,006,816 |
| Investments—publicly traded securities | $16,978,021 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,078,945 |
| Total assets | $65,186,441 |
| Accounts payable and accrued expenses | $205,132 |
| Grants payable | $0 |
| Deferred revenue | $7,270 |
| 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 | $58,609,775 |
| Total liabilities | $58,822,177 |
| 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 | $6,364,264 |
| Total liabilities and net assets/fund balances | $65,186,441 |