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Ark Valley Credit Union

Not tax-deductible

Arkansas City, KSMutual-benefit / member-servingEIN 48-0668113Revenue $3.3M in FY2024

On file with the IRSarkvalleycu.org1515 N Summit St, 67005-1503 · Arkansas City, KSTax-exempt since Sep 1955

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

Run by 8 volunteers and 19 employees.
Mission: Form 990 Part I, line 1 · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
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 $459K a year · 18% 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
$137K
to officers and key staff · 5% of spending
Looks good: pay to officers and key staff is 5% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
76 mo
of spending, in cash
Looks good: 76.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$47.4M
86% of total assets
Concern: liabilities are 86% of assets; over 80%.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$3.3M
+23% vs prior year
Spent
$2.6M
Net assets
$7.6M
By yearFY2020–FY2024
Revenue
$3.3M
FY2024▲ +23%
Tap a bar for its year
Revenue by fiscal year
FY2020$2.4M
FY2021$2.2M
FY2022$2.3M
FY2023$2.7M
FY2024$3.3M
Expenses
$2.6M
FY2024▲ +24%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.9M
FY2021$1.9M
FY2022$2.1M
FY2023$2.1M
FY2024$2.6M
Net assets
$7.6M
FY2024▲ +10%
Tap a bar for its year
Net assets by fiscal year
FY2020$4.7M
FY2021$5.0M
FY2022$5.2M
FY2023$6.9M
FY2024$7.6M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 1955.

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

Who runs it and what they're paid

8 people listed on the 990; $137K paid to officers and key staff.

Part VII, Section A · reportable compensation
Kim Anneler
President/CEO
$136,950Pt VII · Sec A
Steve Bower
Vice Chairman
$0Pt VII · Sec A
$0Pt VII · Sec A
Sheri Quick
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Mary Schmidt
Director
$0Pt VII · Sec A
$0Pt VII · Sec A

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

NameFY2024FY2023FY2022FY2021FY2020
Kim Anneler$136,950$127,673$118,354$109,827$103,203

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 Ark Valley Credit Union executive salaries →

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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 members high-quality financial services to boost their well-being and ensure credit union strength.

Questions for Ark Valley Credit Union

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Provided by the organization

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3 programs · in their own filed words · FY2024
01

Provides a source of credit to members at a fair and reasonable rate of interest. As of december 31, 2024, there were 3,378 loans outstanding totaling $34,462,602.

Pt IX · col B
02

Provides financial and financially related services to 9,907 members.

Pt IX · col B
03

Paid dividends on member deposits totaling $268,135 for the year.

Pt IX · col B

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$3.3M
Ln 12
Fees for servicesLn 2g$2.8M
Investment incomeLn 3$488K
Other incomeLn 4–11$18K
Money outPt IX
$2.6M
Ln 25
Owns and owesPt X
$7.6M
net assets · Ln 32
Cash and savingsLn 1–2$16.9M
Total assetsLn 16$55.0M
LiabilitiesLn 26$47.4M
PeoplePt VI, VII
8
listed · VII A
PaidVII A1
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$2.8M
Investment incomeLn 3$488K
Other incomeLn 4–11$18K
Total revenueLn 12$3.3M
Assets in detailPt X, end of year
CashLn 1$1.2M
SavingsLn 2$15.6M
Cash and savings togetherLn 1–2$16.9M
InvestmentsLn 11–13$712K
Land, buildings, equipmentLn 10c$2.3M
Other assetsLn 15$615K
Total assetsLn 16$55.0M
LiabilitiesLn 26$47.4M
Net assetsLn 32$7.6M
OperationsPt I, VI
EmployeesI 519
VolunteersI 68
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
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$16.4M$16.9M
InvestmentsLn 11–13$841K$712K
Land, buildings, equipmentLn 10c$2.4M$2.3M
Total assetsLn 16$55.6M$55.0M
LiabilitiesLn 26$48.7M$47.4M
Net assetsLn 32$6.9M$7.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$137K
Other salaries and wagesLn 7$601K
Pension plan contributionsLn 8$101K
Other employee benefitsLn 9$91K
Payroll taxesLn 10$58K
Accounting feesLn 11c$120K
Other fees for servicesLn 11g$639K
Advertising and promotionLn 12$40K
Office expensesLn 13$123K
OccupancyLn 16$107K
Conferences, conventions and meetingsLn 19$13K
Depreciation, depletion and amortizationLn 22$151K
InsuranceLn 23$40K
Other expenses (24a–d)Ln 24$422K
All other expensesLn 24e−$1K
Total functional expensesLn 25$2.6M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $3.3M$2.6M$678K$7.6M 990 PDF
FY2023 $2.7M$2.1M$571K$6.9M 990 PDF
FY2022 $2.3M$2.1M$229K$5.2M 990 PDF
FY2021 $2.2M$1.9M$313K$5.0M 990 PDF
FY2020 $2.4M$1.9M$503K$4.7M 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 $3,321,242 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $2,321,393$2,814,490
I-10 Investment incomePrior year $357,930$488,316
I-11 Other revenuePrior year $15,586$18,436
I-12 Total revenuePrior year $2,694,909$3,321,242
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $1,224$0
I-15 Salaries and benefitsPrior year $777,568$988,911
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,345,496$1,654,067
I-18 Total expensesPrior year $2,124,288$2,642,978
I-19 Revenue less expensesPrior year $570,621$678,264
Part VI · Governance 7 of 7 board members independent, no flags
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $3,321,242 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,810,862 · Unrelated business $3,628$2,814,490
VIII-3 Investment incomeRelated to mission $488,316$488,316
VIII-5 RoyaltiesRelated to mission $18,436$18,436
VIII-12 Total revenueRelated to mission $3,317,614 · Unrelated business $3,628 · Excluded from tax $0$3,321,242
Part IX · Statement of functional expenses $2,642,978 across 15 lines filed
IX-5 Pay of current officers, directors and key staff$136,950
IX-7 Other salaries and wages$601,307
IX-8 Pension plan contributions$101,148
IX-9 Other employee benefits$91,214
IX-10 Payroll taxes$58,292
IX-11c Accounting fees$120,262
IX-11g Other fees for services$638,787
IX-12 Advertising and promotion$39,876
IX-13 Office expenses$123,001
IX-16 Occupancy$106,859
IX-19 Conferences, conventions and meetings$13,171
IX-22 Depreciation, depletion and amortization$151,496
IX-23 Insurance$39,853
IX-24 Other expenses (24a–d)$421,855
IX-24e All other expenses−$1,093
IX-25 Total functional expenses$2,642,978
Part X · Balance sheet $54,967,303 assets, 12 lines filed
Asset lines not itemized here account for $34,355,010; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $1,386,583$1,219,125
X-2 Savings and temporary cash investmentsStart of year $15,008,630$15,639,065
X-9 Prepaid expenses and deferred chargesStart of year $97,470$83,798
X-10c Land, buildings and equipment, netStart of year $2,433,491$2,343,198
X-12 Other securitiesStart of year $841,390$712,142
X-15 Other assetsStart of year $665,848$614,965
X-16 Total assetsStart of year $55,615,224$54,967,303
X-17 Accounts payable and accrued expensesStart of year $244,011$378,997
X-25 Other liabilitiesStart of year $48,448,684$46,971,993
X-26 Total liabilitiesStart of year $48,692,695$47,350,990
X-32 Total net assets or fund balancesStart of year $6,922,529$7,616,313
X-33 Total liabilities and net assetsStart of year $55,615,224$54,967,303
Part XI · Reconciliation of net assets $7,616,313 net assets at year end
XI-1 Total revenue$3,321,242
XI-2 Total expenses$2,642,978
XI-3 Revenue less expenses$678,264
XI-4 Net assets at start of year$6,922,529
XI-8 Prior period adjustments$15,520
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$7,616,313

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

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