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Universal Credit Union

IRS exemption revoked

Independence, KSUnknown exempt organization EIN 48-0623553Revenue $46K in FY2021

On file with the IRS117 South 8th · Independence, KS

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To provide high quality financial services for our member/owners, enhancing their financial well-being while maintaining the financial strength of the Credit Union

Run by 8 volunteers and 3 employees.
Mission: Form 990 Part I, line 1 · People: Part I, lines 5–6

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FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
Revoked
IRS exemption revoked
Concern: the IRS revoked its tax exemption.
IRS Auto-Revocation List
Latest return
FY2021
latest Form 990
Concern: the latest return is for FY2021, 5 tax years back; more than 4 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 2
filings with a surplus
Average deficit $9K a year · 17% of revenue · last 2 filings
Concern: a surplus in 0 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$16K
to officers and key staff · 33% of spending
Concern: pay to officers and key staff is 33% of spending; over 30%.
Pt VII · Sec A
Cash reserves
191 mo
of spending, in cash
Looks good: 191.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$836K
70% of total assets
Worth a look: liabilities are 70% of assets; over 65%.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$46K
-21% vs prior year
Spent
$49K
To programs
0%
Net assets
$353K
By yearFY2020–FY2021
Revenue
$46K
FY2021▼ -21%
Tap a bar for its year
Revenue by fiscal year
FY2020$58K
FY2021$46K
Expenses
$49K
FY2021▼ -32%
Tap a bar for its year
Expenses by fiscal year
FY2020$73K
FY2021$49K
Net assets
$353K
FY2021▼ -1.0%
Tap a bar for its year
Net assets by fiscal year
FY2020$357K
FY2021$353K

From the FY2021 Form 990 · see the original

990 PDF Claim
IRS revoked this organization's tax-exempt status on May 15, 2025

Is it real?

No. The IRS revoked its tax exemption. Latest filing on record: FY2021.

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

Who runs it and what they're paid

7 people listed on the 990; $16K paid to officers and key staff.

Part VII, Section A · reportable compensation
$16,154Pt VII · Sec A
David Henderson
Vice Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Kim Boorigie
Secretary
$0Pt VII · Sec A
Kerry Bright
Director
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2021FY2020
Laura Keller$16,154$15,500

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

Offer affordable financial services to members, boosting their well-being and the credit union's strength.

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Provided by the organization

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3 programs · in their own filed words · FY2021
01

Provides a source of credit to members at a fair and reasonable rate of interest. As of december 31, 2020 there were 77 loans outstanding totaling $406,032

Pt IX · col B
02

Provides financial and financially related services to 241 members

Pt IX · col B
03

Paid dividends on member deposits totaling $6,040 for the year.

Pt IX · col B

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$46K
Ln 12
Fees for servicesLn 2g$42K
Investment incomeLn 3$4K
Money outPt IX
$49K
Ln 25
Owns and owesPt X
$353K
net assets · Ln 32
Cash and savingsLn 1–2$787K
Total assetsLn 16$1.2M
LiabilitiesLn 26$836K
PeoplePt VI, VII
7
listed · VII A
PaidVII A1
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$42K
Investment incomeLn 3$4K
Total revenueLn 12$46K
Assets in detailPt X, end of year
CashLn 1$31K
SavingsLn 2$756K
Cash and savings togetherLn 1–2$787K
Other assetsLn 15$8K
Total assetsLn 16$1.2M
LiabilitiesLn 26$836K
Net assetsLn 32$353K
OperationsPt I, VI
EmployeesI 53
VolunteersI 68
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$707K$787K
Total assetsLn 16$1.2M$1.2M
LiabilitiesLn 26$802K$836K
Net assetsLn 32$357K$353K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$16K
Other salaries and wagesLn 7$5K
Payroll taxesLn 10$2K
Accounting feesLn 11c$2K
Advertising and promotionLn 12$205
Office expensesLn 13$5K
OccupancyLn 16$7K
Conferences, conventions and meetingsLn 19$118
Other expenses (24a–d)Ln 24$10K
All other expensesLn 24e$2K
Total functional expensesLn 25$49K$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2021 Latest Viewing $46K$49K−$3K$353K 990 PDF
FY2020 $58K$73K−$15K$357K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $45,888 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $50,221$42,101
I-10 Investment incomePrior year $8,196$3,787
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $58,417$45,888
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 $22,936$23,311
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $50,100$26,005
I-18 Total expensesPrior year $73,036$49,316
I-19 Revenue less expensesPrior year −$14,619−$3,428
Part VI · Governance 8 of 8 board members independent, 2 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $45,888 across 5 lines filed
VIII-1h Total contributions, gifts and grants$0
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $42,101 · Unrelated business $0 · Excluded from tax $0$42,101
VIII-3 Investment incomeRelated to mission $3,787 · Unrelated business $0 · Excluded from tax $0$3,787
VIII-5 RoyaltiesRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-12 Total revenueRelated to mission $45,888 · Unrelated business $0 · Excluded from tax $0$45,888
Part IX · Statement of functional expenses $49,316 across 10 lines filed
IX-5 Pay of current officers, directors and key staff$16,154
IX-7 Other salaries and wages$5,400
IX-10 Payroll taxes$1,757
IX-11c Accounting fees$2,194
IX-12 Advertising and promotion$205
IX-13 Office expenses$4,935
IX-16 Occupancy$6,603
IX-19 Conferences, conventions and meetings$118
IX-24 Other expenses (24a–d)$10,401
IX-24e All other expenses$1,549
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$49,316
Part X · Balance sheet $1,188,909 assets, 9 lines filed
Asset lines not itemized here account for $394,381; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $290,835$30,521
X-2 Savings and temporary cash investmentsStart of year $415,987$756,002
X-15 Other assetsStart of year $6,321$8,005
X-16 Total assetsStart of year $1,158,238$1,188,909
X-17 Accounts payable and accrued expensesStart of year $1,278$690
X-25 Other liabilitiesStart of year $800,408$835,095
X-26 Total liabilitiesStart of year $801,686$835,785
X-32 Total net assets or fund balancesStart of year $356,552$353,124
X-33 Total liabilities and net assetsStart of year $1,158,238$1,188,909
Part XI · Reconciliation of net assets $353,124 net assets at year end
XI-1 Total revenue$45,888
XI-2 Total expenses$49,316
XI-3 Revenue less expenses−$3,428
XI-4 Net assets at start of year$356,552
XI-5 Net unrealized gains (losses) on investments$0
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$353,124

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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