Revity Credit Union

Granite City, ILUnknown exempt organizationSince 1941EIN 37-0646488Revenue $25.0M in FY2024

On file with the IRSrevitycu.com3970 Maryville Road · Granite City, IL

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To provide cooperative financial services to anyone who lives, works or attends school within the following illinois counties: sangamon, logan, macon, marion, jefferson, perry, jackson, williamson, jersey, macoupin, montgomery, madison, bond, clinton, st. Clair, monroe, washington and randolph. In addition to a regularly qualified member, the spouse of a member, the blood or adoptive relatives of either of them and their spouses may be members.

$586K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $2.5M a year · 12% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Pay to officers and key staff
$586K
to officers and key staff · 2% of spending
Looks good: pay to officers and key staff is 2% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
10 mo
of spending, in cash
Looks good: 10.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $800
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$420.4M
91% of total assets
Concern: liabilities are 91% of assets; over 80%.
Pt X · Ln 26
Independent board members
11
of 11 voting members
Looks good: 11 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$25.0M
+2% vs prior year
Spent
$24.1M
Net assets
$40.3M
By yearFY2020–FY2024
Revenue
$25.0M
FY2024▲ +2%
Tap a bar for its year
Revenue by fiscal year
FY2020$18.5M
FY2021$19.6M
FY2022$20.2M
FY2023$24.5M
FY2024$25.0M
Expenses
$24.1M
FY2024▲ +6%
Tap a bar for its year
Expenses by fiscal year
FY2020$16.5M
FY2021$14.9M
FY2022$16.8M
FY2023$22.9M
FY2024$24.1M
Net assets
$40.3M
FY2024▲ +5%
Tap a bar for its year
Net assets by fiscal year
FY2020$43.5M
FY2021$46.2M
FY2022$33.5M
FY2023$38.3M
FY2024$40.3M

From the FY2024 Form 990 · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

14 people listed on the 990; $586K paid to officers and key staff.

Part VII, Section A · reportable compensation
President - Thru 10/24
$292,756Pt VII · Sec A
Chief Financial Officer
$223,829Pt VII · Sec A
President
$69,100Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Vice Chairperson
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Keith Burton$292,756$211,437$240,557$218,260$208,894
Tamara Wofford$223,829$177,867$177,867$179,665$174,494
John Merritt$69,100————

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Offers financial services to residents, workers, and students in specific Illinois counties.

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Provided by the organization

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1 program · in their own filed words · FY2024
01

Provides cooperative financial services to 36,569 members.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Contegra CaresFY2024$800
Total grants receivedfrom 1 funder$800

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$25.0M
Ln 12
Fees for servicesLn 2g$19.4M
Investment incomeLn 3$5.0M
Other incomeLn 4–11$583K
Money outPt IX
$24.1M
Ln 25
Owns and owesPt X
$40.3M
net assets · Ln 32
Cash and savingsLn 1–2$20.4M
Total assetsLn 16$460.7M
LiabilitiesLn 26$420.4M
PeoplePt VI, VII
14
listed · VII A
PaidVII A3
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$19.4M
Investment incomeLn 3$5.0M
Other incomeLn 4–11$583K
Gains on assetsLn 7$1.2M
Total revenueLn 12$25.0M
Assets in detailPt X, end of year
CashLn 1$4.3M
SavingsLn 2$16.0M
Cash and savings togetherLn 1–2$20.4M
InvestmentsLn 11–13$143.3M
Land, buildings, equipmentLn 10c$11.0M
Other assetsLn 15$20.4M
Total assetsLn 16$460.7M
LiabilitiesLn 26$420.4M
Net assetsLn 32$40.3M
OperationsPt I, VI
EmployeesI 5151
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$26.7M$20.4M
InvestmentsLn 11–13$150.3M$143.3M
Land, buildings, equipmentLn 10c$11.7M$11.0M
Total assetsLn 16$455.2M$460.7M
LiabilitiesLn 26$416.8M$420.4M
Net assetsLn 32$38.3M$40.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$6.2M
Pension plan contributionsLn 8$342K
Other employee benefitsLn 9$1.6M
Payroll taxesLn 10$491K
Legal feesLn 11b$62K
Accounting feesLn 11c$86K
Other fees for servicesLn 11g$1.5M
Advertising and promotionLn 12$503K
Office expensesLn 13$4.0M
OccupancyLn 16$779K
TravelLn 17$65K
InterestLn 20$491K
Depreciation, depletion and amortizationLn 22$963K
Other expenses (24a–d)Ln 24$7.0M
All other expensesLn 24e$53K
Total functional expensesLn 25$24.1M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $25.0M$24.1M$890K$40.3M 990 PDF
FY2023 $24.5M$22.9M$1.6M$38.3M 990 PDF
FY2022 $20.2M$16.8M$3.4M$33.5M 990 PDF
FY2021 $19.6M$14.9M$4.7M$46.2M 990 PDF
FY2020 $18.5M$16.5M$2.0M$43.5M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $25,020,502 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $17,083,989$19,410,395
I-10 Investment incomePrior year $6,613,334$5,027,533
I-11 Other revenuePrior year $753,349$582,574
I-12 Total revenuePrior year $24,450,672$25,020,502
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $7,806,149$8,624,959
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $15,048,900$15,505,272
I-18 Total expensesPrior year $22,855,049$24,130,231
I-19 Revenue less expensesPrior year $1,595,623$890,271
Part VI · Governance 11 of 11 board members independent, 1 to look at
VI-1a Voting members of the governing body11
VI-1b Independent voting members11
VI-13 Written whistleblower policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $25,020,502 across 5 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $19,360,625 · Unrelated business $49,770$19,410,395
VIII-3 Investment incomeExcluded from tax $3,799,376$3,799,376
VIII-7 Net gain or loss on sales of assetsExcluded from tax $1,228,157$1,228,157
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $582,574$582,574
VIII-12 Total revenueRelated to mission $19,943,199 · Unrelated business $49,770 · Excluded from tax $5,027,533$25,020,502
Part IX · Statement of functional expenses $24,130,231 across 15 lines filed
IX-7 Other salaries and wages$6,233,778
IX-8 Pension plan contributions$342,240
IX-9 Other employee benefits$1,557,760
IX-10 Payroll taxes$491,181
IX-11b Legal fees$61,755
IX-11c Accounting fees$86,400
IX-11g Other fees for services$1,515,967
IX-12 Advertising and promotion$503,196
IX-13 Office expenses$3,997,509
IX-16 Occupancy$778,508
IX-17 Travel$64,626
IX-20 Interest$490,841
IX-22 Depreciation, depletion and amortization$963,067
IX-24 Other expenses (24a–d)$6,990,869
IX-24e All other expenses$52,534
IX-25 Total functional expenses$24,130,231
Part X · Balance sheet $460,729,959 assets, 13 lines filed
Asset lines not itemized here account for $264,543,270; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $4,422,524$4,334,730
X-2 Savings and temporary cash investmentsStart of year $22,255,693$16,040,576
X-4 Accounts receivableStart of year $1,071,804$1,093,242
X-10c Land, buildings and equipment, netStart of year $11,686,335$10,979,081
X-11 Publicly traded securitiesStart of year $148,281,725$141,277,251
X-12 Other securitiesStart of year $2,058,652$2,058,652
X-15 Other assetsStart of year $19,775,068$20,403,157
X-16 Total assetsStart of year $455,153,966$460,729,959
X-17 Accounts payable and accrued expensesStart of year $3,653,559$3,858,838
X-25 Other liabilitiesStart of year $388,177,126$406,573,545
X-26 Total liabilitiesStart of year $416,830,685$420,432,383
X-32 Total net assets or fund balancesStart of year $38,323,281$40,297,576
X-33 Total liabilities and net assetsStart of year $455,153,966$460,729,959
Part XI · Reconciliation of net assets $40,297,576 net assets at year end
XI-1 Total revenue$25,020,502
XI-2 Total expenses$24,130,231
XI-3 Revenue less expenses$890,271
XI-4 Net assets at start of year$38,323,281
XI-5 Net unrealized gains (losses) on investments$1,084,024
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$40,297,576

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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