Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2021.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
84 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
Something off? Claim to add context
Who runs it and what they're paid
6 people listed on the 990; $115K paid to officers and key staff.
Compensation history total reportable pay by year · 1 named individual · Part VII
| Name | FY2021 | FY2020 |
|---|---|---|
| Michael Mehlberg | $57,060 | $114,991 |
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.
See Cone Credit Union executive salaries →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
Empowers individuals to improve their financial futures through continuous support and resources.
Questions for Cone Credit Union
Your first name shows with your question. Cone Credit Union answers here, for everyone.
We have deposit transaction and investment accounts with 1,434 members at december 31, 2020. During 2020 we opened 486 new deposit transaction and investment accounts.
We funded 224 loans during 2020. As of december 31, 2020 we had 194 mortgages / home equity lines, 370 consumer loans, and 12 member business loans.
By the numbers
The FY2020 990, line by line.
Download 990
| Line | Start FY20 | End FY20 |
|---|---|---|
| Cash and savingsLn 1–2 | $8.6M | $9.4M |
| InvestmentsLn 11–13 | $500K | $499K |
| Land, buildings, equipmentLn 10c | $256K | $241K |
| Total assetsLn 16 | $28.1M | $29.1M |
| LiabilitiesLn 26 | $24.9M | $25.8M |
| Net assetsLn 32 | $3.2M | $3.3M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Pay of current officers, directors and key staffLn 5 | $115K | $69K | $46K | |
| Other salaries and wagesLn 7 | $225K | $225K | ||
| Other employee benefitsLn 9 | $35K | $30K | $5K | |
| Payroll taxesLn 10 | $30K | $26K | $4K | |
| Legal feesLn 11b | $18K | $18K | ||
| Accounting feesLn 11c | $18K | $18K | ||
| Other fees for servicesLn 11g | $87K | $75K | $12K | |
| Advertising and promotionLn 12 | $8K | $8K | ||
| Office expensesLn 13 | $89K | $72K | $16K | |
| Information technologyLn 14 | $23K | $18K | $5K | |
| OccupancyLn 16 | $22K | $17K | $4K | |
| TravelLn 17 | $541 | $541 | ||
| Conferences, conventions and meetingsLn 19 | $8K | $8K | ||
| InterestLn 20 | $275 | $275 | ||
| Depreciation, depletion and amortizationLn 22 | $18K | $4K | $14K | |
| InsuranceLn 23 | $20K | $16K | $4K | |
| Other expenses (24a–d)Ln 24 | $216K | $198K | $18K | |
| All other expensesLn 24e | $6K | $5K | $169 | |
| Total functional expensesLn 25 | $937K | $783K | $154K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2021 LatestFiled with the IRS Mar 14, 2022 | $408K | $428K | −$20K | $0 | 990 PDF |
| FY2020 ViewingFiled with the IRS Nov 4, 2021 | $966K | $937K | $29K | $3.3M | 990 PDF |
Schedules filed Part IV
See the full FY2020 990 (6 parts)
Part I · Summary $965,563 revenue, 12 lines filed
Part VI · Governance 5 of 5 board members independent, no flags
Part VIII · Statement of revenue $965,563 across 3 lines filed
Part IX · Statement of functional expenses $936,636 across 18 lines filed
Part X · Balance sheet $29,072,322 assets, 13 lines filed
Part XI · Reconciliation of net assets $3,259,779 net assets at year end
Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File
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