Adelfi Credit Union
- Assets
- $568.7m
- Revenue
- $32.6m
- Investments
- $0.0
- Employees
- 107
- Location
- Brea, CA
- Founding
- 03/1965
- Data as of
- 12/2023
- EIN
- 95-6111723
Organization Overview
Adelfi Credit Union is located in Brea, CA. The organization was established in 1965. 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, Adelfi Credit Union employed 107 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Adelfi 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, Adelfi Credit Union generated $32.6m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (2.4%) each year. All expenses for the organization totaled $31.3m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (6.1%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Adelfi Credit Union has awarded 80 individual grants totaling $640,027. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
ADELFI PARTNERS WITH INDIVIDUALS, FAMILIES, CHRIST-CENTERED MINISTRIES AND BUSINESSES TO PROTECT, GROW, AND SHARE THEIR FINANCIAL RESOURCES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ADELFI CREDIT UNION PROVIDED CREDIT UNION SERVICES TO OUR MEMBERS. OUR MEMBERSHIP TOTALED 13,785 AS OF DECEMBER 31, 2023.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Abel Luis Pomar President CEO | Officer | 40 | $824,550 |
Nicolette Harms SVP CFO | Officer | 40 | $434,688 |
Bentley Hatcher SVP Chief Lending Officer | Officer | 40 | $434,524 |
Charles Kelly SVP Chief Technology Officer | Officer | 40 | $327,824 |
Susan Rushing SVP Chief Risk Officer | Officer | 40 | $317,522 |
Jimmy Lee SVP Chief Marketing Officer | Officer | 40 | $299,328 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mighty Roar Llc Marketing Services | 12/30/22 | $1,077,708 |
Q2 Software Inc Data Processing Services | 12/30/22 | $648,677 |
Fiserv Inc Banking Operations System | 12/30/22 | $573,975 |
Kasasa Ltd Banking Marketing Service | 12/30/22 | $412,764 |
Iv Capital Partners Llc Consulting Services | 12/30/22 | $289,000 |
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 | $28,268,198 |
| Investment income | $4,343,440 |
| 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 | $32,611,638 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $441,550 |
| 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. | $2,722,497 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,244,988 |
| Pension plan accruals and contributions | $829,521 |
| Other employee benefits | $1,763,629 |
| Payroll taxes | $728,494 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $385,082 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $389,839 |
| Advertising and promotion | $1,217,797 |
| Office expenses | $618,710 |
| Information technology | $2,449,616 |
| Royalties | $0 |
| Occupancy | $900,713 |
| Travel | $22,304 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $20,207 |
| Interest | $7,990,254 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $199,429 |
| Insurance | $514,122 |
| All other expenses | $0 |
| Total functional expenses | $31,295,089 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,001,497 |
| Savings and temporary cash investments | $44,836,639 |
| 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 | $453,265,235 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,235,747 |
| Net Land, buildings, and equipment | $417,699 |
| Investments—publicly traded securities | $47,502,524 |
| Investments—other securities | $0 |
| Investments—program-related | $9,748,536 |
| Intangible assets | $406,110 |
| Other assets | $10,306,900 |
| Total assets | $568,720,887 |
| Accounts payable and accrued expenses | $3,851,603 |
| 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 | $475,675,907 |
| Total liabilities | $479,527,510 |
| 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 | $89,193,377 |
| Total liabilities and net assets/fund balances | $568,720,887 |
Grants Awarded
Over the last fiscal year, Adelfi Credit Union has awarded $84,352 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
WYCLIFFE BIBLE TRANSLATORS INC PURPOSE: General Support | $12,232 |
OC INTERNATIONAL PURPOSE: General Support | $5,500 |
EVANGELICAL FREE CHURCH OF AMERICA PURPOSE: General Support | $6,120 |
ONE COLLECTIVE NFP PURPOSE: General Support | $6,000 |
LEGACY INC PURPOSE: General Support | $10,000 |
MT ZION BAPTIST CHURCH PURPOSE: General Support | $10,000 |