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← DULUTH POLICE DEPARTMENT CREDIT UNION

Form 990 for tax year 2022

Filed by DULUTH POLICE DEPARTMENT CREDIT UNION.

Totals

Total revenue
$226,691
Total expenses
$176,557
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$154,921
Investment income
$71,460
Other revenue
$310
Total assets, end of year
$11,020,385
Total liabilities, end of year
$9,440,179
Net assets or fund balances, end of year
$1,580,206
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: INTEREST ON LOANS

    total $143,135 · related or exempt $143,135

  • 2b · Program service revenue: OTHER MEMBER RELATED REVENUE

    total $11,786 · related or exempt $11,786

  • 3 · Investment income

    total $71,460 · excluded $71,460

  • 5 · Royalties

    total $310 · excluded $310

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $32,434

  • 7 · Other salaries and wages

    total $42,350

  • 10 · Payroll taxes

    total $6,011

  • 11c · Fees: accounting

    total $2,620

  • 12 · Advertising and promotion

    total $500

  • 13 · Office expenses

    total $18,936

  • 14 · Information technology

    total $17,519

  • 16 · Occupancy

    total $2,212

  • 19 · Conferences, conventions and meetings

    total $1,976

  • 23 · Insurance

    total $6,882

  • 24a · Other expenses: DIVIDENDS EXPENSE

    total $44,345

  • 24b · Other expenses: LOAN SERVICING EXPENSE

    total $772

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $138,923 · end of year $135,920

  • 2 · Savings and temporary cash investments

    beginning of year $3,191,023 · end of year $1,160,033

  • 7 · Other notes and loans receivable

    beginning of year $4,388,547 · end of year $4,500,739

  • 13 · Investments: program-related

    beginning of year $4,518,000 · end of year $5,117,000

  • 15 · Other assets

    beginning of year $97,967 · end of year $106,693

  • 25 · Other liabilities

    beginning of year $10,804,388 · end of year $9,440,179

  • 31 · Retained earnings, endowment or other funds

    beginning of year $1,530,072 · end of year $1,580,206

Mission and programs · 2022

Mission

TO PROMOTE THRIFT AMONG OUR MEMBERS AND CREATE A SOURCE OF CREDIT FOR THEM AT LEGITIMATE RATES OF INTEREST.

  • THE CREDIT UNION HAS VARIOUS TYPES OF DEPOSIT ACCOUNTS AVAILABLE FOR OUR MEMBERS. WE OPENED 13 NEW DEPOSIT ACCOUNTS IN 2022. AS OF 12/31/22 WE HAD 711 MEMBERS.

  • THE CREDIT UNION HAS SEVERAL TYPES OF LOAN PROGRAMS AVAILABLE FOR OUR MEMBERS. WE FUNDED 146 NEW LOANS DURING 2022. AS OF 12/31/22 WE HAD 323 OUTSTANDING LOANS.

As filed on the 2022 return.

Listed in Part VII

  • Thomas Ehle

    MANAGER / TR

    Total calculated
    $32,434
    From this org
    $32,434
    From related orgs
    $0
    Other
    $0
    Hours/week
    18

  • John Kalenowski

    CHAIR

    Total calculated
    $0
    Hours/week
    0.25

  • Milton Huta

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.25

  • Claudia Johnson

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.25

  • Richard Voltzke

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
14 March 2023
IRS schema version
2022v5.0
Source object
202330869349300768

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