Nonprofit · EIN 34-0058415
164 FIRSTENERGY FAMILY CREDIT UNION
Tax-exempt · AKRON, OH 44320
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $2,069,774 | $1,684,958 | $384,816 | $42,533,727 | $35,850,786 | $6,682,941 |
| December 31, 2023 | 990 | $1,533,874 | $1,309,134 | $224,740 | $41,759,122 | $35,460,997 | $6,298,125 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $1,477,354
- Investment income
- $592,420
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Benefits paid to members
- $600,769
- Compensation of officers, directors and key employees
- $367,328
- Other salaries and wages
- $211,084
- Salaries, compensation and benefits (total)
- $733,795
- Professional fundraising fees
- $0
- Legal fees
- $99
- Accounting fees
- $19,626
- Occupancy
- $33,834
Balance sheet and other
- Total assets, start of year
- $41,759,122
- Total assets, end of year
- $42,533,727
- Total liabilities, end of year
- $35,850,786
- Net assets, end of year
- $6,682,941
- Gross receipts
- $2,069,774
- Employees
- 6
- Volunteers
- 10
- Year formed
- 1936
- State of legal domicile
- OH
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Timothy Baker | CEO & Treasurer Officer, Key employee | 40 | $184,352 |
| Kevin J Daum | COO Key employee | 40 | $182,976 |
| Joseph Gier | Director Trustee or director | 1 | $0 |
| Joseph Storsin | Director Trustee or director | 1 | $0 |
| Michael Newkirk | Director Trustee or director | 1 | $0 |
| Christie Phillips | Director Trustee or director | 1 | $0 |
| Amy Patterson | Director Trustee or director | 1 | $0 |
| William Shonk | President Trustee or director, Officer | 2 | $0 |
| Erik Gegick | Vice President Trustee or director, Officer | 1 | $0 |
| Lou Ellen Kirkendall | Secretary Trustee or director, Officer | 2 | $0 |
990 for the year ended December 31, 2023: 11 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Timothy Baker | CEO & Treasurer Officer, Key employee, Highest-paid employee | 40 | $173,000 |
| Kevin J Daum | COO Key employee | 40 | $121,000 |
| Joseph Gier | Director Trustee or director | 1 | $0 |
| Joseph Storsin | Director Trustee or director | 1 | $0 |
| Michael Newkirk | Director Trustee or director | 1 | $0 |
| Christie Phillips | Director Trustee or director | 1 | $0 |
| RogerMcElroy | 401K Trustee Trustee or director | 1 | $0 |
| Amy Patterson | Director Trustee or director | 1 | $0 |
| William Shonk | President Trustee or director | 2 | $0 |
| Erik Gegick | Vice President Trustee or director | 1 | $0 |
| Lou Ellen Kirkendall | Secretary Trustee or director, Officer | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 575 WHITE POND DR STE E, AKRON, OH 44320-1184
- In care of
- % TIMOTHY T BAKER
- Principal officer (990 for 2024)
- Timothy Baker, 575 White Pond Dr, Suite E, Akron, OH 44320
- Signed the 990
- Timothy Baker, CEO/Treasurer
- Phone
- (330) 535-3611
- Website
- www.fefcu.com
Mission
TO PROVIDE LENDING, SAVINGS AND OTHER FINANCIAL SERVICES TO IT'S QUALIFYING MEMBERS AT TERMS USUALLY BETTER THAN AVAILABLE IN THE MARKETPLACE. WITH A HEAVY EMPHASIS ON MEMBER SERVICE THAT RECONIZES THAT THE MEMBERS ARE THE OWNERS OF THE CREDIT UNION AND NOT JUST CUSTOMERS. DIRECT LABOR AND EMPLOYEE BENEFITS COSTS INCURRED PROVIDING SAVINGS DEPOSIT SERVICES, ORIGINATING NEW LOANS AND SERVING THE LOAN PORTFOLIO FOR MEMBERS.
Program accomplishments
- DIVIDENDS AND INTEREST PAID TO MEMBERS ON APPROXIMATELY 4756 DEPOSIT ACCOUNTS, OWNED BY APPROXIMATELY 4370 MEMBERS. DATA PROCESSING COSTS INCURRED RECORDING MEMBER ACCOUNT ACTIVITY AND PROVIDING ACCESS TO MEMBERS TO THIER ACCOUNTS VIA HOME BANKING, PHONE AND IN PERSON AT THE CREDIT UNION OFFICE.0
- Direct labor and employee costs incurred providing savings and deposit services, originating new loans and servicing the loan portfolio for members.0
- Data processing costs incurred recording member account activity and providing access to members to their accounts via home banking, phone and in person at the credit union office.0
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 34-0058415
- Tax-exempt status
- 501(c)(14): State-chartered credit union
- Donations deductible
- No
- Exempt since
- 1969
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Group exemption
- 1990: OHIO CHARTERED CREDIT UNIONS
- Assets (IRS master file)
- $42,533,727
- Income (IRS master file)
- $2,069,774
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $2,069,774 | $1,684,958 | $42,533,727 | IRS |
| 990 | December 2023 | $1,533,874 | $1,309,134 | $41,759,122 | XML |
| 990 | December 2022 | $1,108,328 | $1,078,356 | $44,572,146 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 34-0058415).
Questions about 164 FIRSTENERGY FAMILY CREDIT UNION
- What is the EIN of 164 FIRSTENERGY FAMILY CREDIT UNION?
- The employer identification number (EIN) of 164 FIRSTENERGY FAMILY CREDIT UNION is 34-0058415.
- Is 164 FIRSTENERGY FAMILY CREDIT UNION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(14) since 1969.
- Are donations to 164 FIRSTENERGY FAMILY CREDIT UNION tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does 164 FIRSTENERGY FAMILY CREDIT UNION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of 164 FIRSTENERGY FAMILY CREDIT UNION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did 164 FIRSTENERGY FAMILY CREDIT UNION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of 164 FIRSTENERGY FAMILY CREDIT UNION?
- The 990 for the year ended December 31, 2024 names Timothy Baker.
- Who are the officers and directors of 164 FIRSTENERGY FAMILY CREDIT UNION?
- The 990 for the year ended December 31, 2024 lists 10 people; 2 received compensation from the organization, the highest $184,352 (Timothy Baker, CEO & Treasurer).
- How much revenue does 164 FIRSTENERGY FAMILY CREDIT UNION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $2,069,774, expenses of $1,684,958 and total assets of $42,533,727 at year end.
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