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MICHIGAN EDUCATIONAL CREDIT UNION
Pub 78
Sign up to claim this org
MICHIGAN EDUCATIONAL CREDIT UNION
Pub 78
Plymouth, MI, US
•
501(c)(14)
•
EIN
38-1305916
•
WWW.MICHEDCU.ORG
•
Subordinate Organization
MICHIGAN EDUCATIONAL CREDIT UNION
Pub 78
Sign up to claim this org
Plymouth, MI, US
•
501(c)(14)
•
EIN
38-1305916
•
WWW.MICHEDCU.ORG
•
Subordinate Organization
Overview
Programs
990s
Income Statement
Balance Sheet
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for more:
People
Board & Team
Financials
Financial Trends
Funding
Funders
Grants Received
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Income Statement
Fiscal Year Start:
Jan 1
Revenues in
2024
$39,021,650
Program Services
73%
Investments
27%
Other
<1%
Contributions
0%
Government Grants
0%
Fundraising Events
0%
Membership Dues
0%
Expenses in
2024
$35,387,839
Salaries & Benefits
35%
Interest
23%
Offices, Occupancy & IT
21%
Other
15%
Depreciation
2%
Fees to Service Providers
2%
Advertising & Promotion
1%
Grants
0%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$0
$0
-
Government Grants
$0
$0
-
Fundraising Events
$0
$0
-
Program Services
$26,690,695
$28,602,381
+7%
Membership Dues
$0
$0
-
Investments
$7,875,067
$10,390,272
+32%
Other
$80,923
$28,997
-64%
Total Revenues
$34,646,685
$39,021,650
+13%
Expenses
2023
2024
Change
Grants
$0
$0
-
Benefits to Members
$0
$0
-
Salaries & Benefits
$11,533,615
$12,439,504
+8%
Fees to Service Providers
$375,058
$531,665
+42%
Advertising & Promotion
$490,750
$460,000
-6%
Offices, Occupancy & IT
$7,673,630
$7,600,010
-1%
Interest
$4,395,581
$8,301,465
+89%
Depreciation
$662,797
$596,849
-10%
Other
$5,970,284
$5,458,346
-9%
Total Expenses
$31,101,715
$35,387,839
+14%
Net income
2023
2024
Change
Net income
+$3,544,970
+$3,633,811
+3%
Functional Expenses
Summary
2023
2024
Change
Program
-
-
-
Admin
-
-
-
Fundraising
-
-
-
Total Expenses
$31,101,715
$35,387,839
+14%
Income Statement