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Universal Credit Union FY2020 filing

IRS exemption revoked

Independence, KSUnknown exempt organization EIN 48-0623553Revenue $58K in FY2020

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

$16K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

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FY2020 · 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 · 21% of spending
Worth a look: pay to officers and key staff is 21% of spending; over 20%.
Pt VII · Sec A
Cash reserves
116 mo
of spending, in cash
Looks good: 116.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$802K
69% of total assets
Worth a look: liabilities are 69% 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
$58K
Spent
$73K
To programs
0%
Net assets
$357K
By yearFY2020–FY2021
Revenue
$58K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$58K
FY2021$46K
Expenses
$73K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$73K
FY2021$49K
Net assets
$357K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$357K
FY2021$353K

From the FY2020 Form 990 · see the original

990 PDF Claim
IRS revoked this organization's tax-exempt status on May 15, 2025
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2021) →

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
$15,500Pt VII · Sec A
David Henderson
Vice Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$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 · FY2020
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 $461,289

Pt IX · col B
02

Provides financial and financially related services to 237 members

Pt IX · col B
03

Paid dividends on member deposits totaling $13,010 for the year.

Pt IX · col B

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$58K
Ln 12
Fees for servicesLn 2g$50K
Investment incomeLn 3$8K
Money outPt IX
$73K
Ln 25
Owns and owesPt X
$357K
net assets · Ln 32
Cash and savingsLn 1–2$707K
Total assetsLn 16$1.2M
LiabilitiesLn 26$802K
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$50K
Investment incomeLn 3$8K
Total revenueLn 12$58K
Assets in detailPt X, end of year
CashLn 1$291K
SavingsLn 2$416K
Cash and savings togetherLn 1–2$707K
Other assetsLn 15$6K
Total assetsLn 16$1.2M
LiabilitiesLn 26$802K
Net assetsLn 32$357K
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 FY20End FY20
Cash and savingsLn 1–2$459K$707K
Total assetsLn 16$1.0M$1.2M
LiabilitiesLn 26$633K$802K
Net assetsLn 32$371K$357K
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$7K
Accounting feesLn 11c$2K
Office expensesLn 13$5K
OccupancyLn 16$6K
TravelLn 17$125
Other expenses (24a–d)Ln 24$31K
All other expensesLn 24e$6K
Total functional expensesLn 25$73K$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2021 Latest $46K$49K−$3K$353K 990 PDF
FY2020 Viewing $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 FY2020 990 (6 parts)
Part I · Summary $58,417 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $52,028$50,221
I-10 Investment incomePrior year $9,355$8,196
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $61,383$58,417
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 $23,703$22,936
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $32,084$50,100
I-18 Total expensesPrior year $55,787$73,036
I-19 Revenue less expensesPrior year $5,596−$14,619
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 $58,417 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 $50,221 · Unrelated business $0 · Excluded from tax $0$50,221
VIII-3 Investment incomeRelated to mission $8,196 · Unrelated business $0 · Excluded from tax $0$8,196
VIII-5 RoyaltiesRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-12 Total revenueRelated to mission $58,417 · Unrelated business $0 · Excluded from tax $0$58,417
Part IX · Statement of functional expenses $73,036 across 8 lines filed
IX-5 Pay of current officers, directors and key staff$15,500
IX-7 Other salaries and wages$7,436
IX-11c Accounting fees$1,807
IX-13 Office expenses$4,666
IX-16 Occupancy$6,368
IX-17 Travel$125
IX-24 Other expenses (24a–d)$31,405
IX-24e All other expenses$5,729
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$73,036
Part X · Balance sheet $1,158,238 assets, 9 lines filed
Asset lines not itemized here account for $445,095; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $45,096$290,835
X-2 Savings and temporary cash investmentsStart of year $413,765$415,987
X-15 Other assetsStart of year $6,014$6,321
X-16 Total assetsStart of year $1,004,277$1,158,238
X-17 Accounts payable and accrued expensesStart of year $1,035$1,278
X-25 Other liabilitiesStart of year $632,071$800,408
X-26 Total liabilitiesStart of year $633,106$801,686
X-32 Total net assets or fund balancesStart of year $371,171$356,552
X-33 Total liabilities and net assetsStart of year $1,004,277$1,158,238
Part XI · Reconciliation of net assets $356,552 net assets at year end
XI-1 Total revenue$58,417
XI-2 Total expenses$73,036
XI-3 Revenue less expenses−$14,619
XI-4 Net assets at start of year$371,171
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$356,552

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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