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Nonprofiteer
← MULTIPLI CREDIT UNION

Form 990 for tax year 2023

Filed by MULTIPLI CREDIT UNION.

This return was superseded by a later amendment. matched by us It is kept because history is preserved rather than replaced.

What the amendment changed

Compared with the latest return for 2023 , filed 13 June 2024. matched by us Only the return's totals, a 990-PF's accounting method and the names listed in Part VII (Part VIII on a 990-PF) are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Total revenue
$9,655,827 changed to $1,972,595
Total expenses
$7,823,690 changed to $31,558,678
Grants paid
$0 changed to $24,552,560
Program service revenue
$8,145,877 changed to $4,614,127
Investment income
$1,439,015 changed to -$2,667,463
Other revenue
$70,935 changed to $25,931
Total assets, end of year
$182,768,876 changed to $0
Total liabilities, end of year
$156,340,824 changed to $0
Net assets or fund balances, end of year
$26,428,052 changed to $0

Listed only on the earlier return

  • Andrew Rose
  • Susan Kasterke

Totals

Total revenue
$9,655,827
Total expenses
$7,823,690
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$8,145,877
Investment income
$1,439,015
Other revenue
$70,935
Total assets, end of year
$182,768,876
Total liabilities, end of year
$156,340,824
Net assets or fund balances, end of year
$26,428,052
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 $5,849,642 · related or exempt $5,849,642

  • 2b · Program service revenue: FEES AND CHARGES

    total $1,078,897 · related or exempt $1,078,897

  • 2c · Program service revenue: CARD INTERCHANGE INCOME

    total $928,162 · related or exempt $928,162

  • 2d · Program service revenue: OTHER INCOME

    total $167,125 · related or exempt $167,125

  • 2e · Program service revenue: MORTGAGE BANKING INCOME

    total $113,139 · related or exempt $113,139

  • 2f · All other program service revenue

    total $8,912 · unrelated business $8,912

  • 3 · Investment income

    total $1,454,597 · excluded $1,454,597

  • 6a · Gross rents

    real property $70,935

  • 6c · Rental income or loss

    real property $70,935

  • 6d · Net rental income or loss

    total $70,935 · excluded $70,935

  • 7a · Gross sales of assets other than inventory

    other assets $4,115

  • 7b · Less cost or other basis and sales expenses

    securities $19,697

  • 7c · Gain or loss

    securities -$19,697 · other assets $4,115

  • 7d · Net gain or loss

    total -$15,582 · related or exempt $4,115 · excluded -$19,697

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $544,869

  • 7 · Other salaries and wages

    total $2,384,130

  • 8 · Pension plan contributions

    total $36,804

  • 9 · Other employee benefits

    total $168,229

  • 10 · Payroll taxes

    total $215,397

  • 11b · Fees: legal

    total $4,984

  • 11c · Fees: accounting

    total $22,771

  • 11f · Fees: investment management

    total $4,460

  • 12 · Advertising and promotion

    total $158,874

  • 13 · Office expenses

    total $100,167

  • 16 · Occupancy

    total $426,181

  • 19 · Conferences, conventions and meetings

    total $10,573

  • 20 · Interest

    total $1,460,997

  • 22 · Depreciation, depletion and amortization

    total $555,608

  • 23 · Insurance

    total $79,949

  • 24a · Other expenses: DEBIT CARD EXPENSES

    total $479,033

  • 24b · Other expenses: DATA PROCESSING

    total $354,303

  • 24c · Other expenses: LOAN SERVICING EXPENSES

    total $352,153

  • 24d · Other expenses: PROVISION FOR LOAN LOSSES

    total $172,922

  • 24e · All other expenses

    total $291,286

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,188,856 · end of year $1,992,020

  • 2 · Savings and temporary cash investments

    beginning of year $10,053,764 · end of year $21,885,187

  • 4 · Accounts receivable

    beginning of year $222,986 · end of year $314,106

  • 7 · Other notes and loans receivable

    beginning of year $110,759,053 · end of year $111,452,233

  • 9 · Prepaid expenses and deferred charges

    beginning of year $412,187 · end of year $453,085

  • 10a · Land, buildings and equipment: cost or other basis

    $14,869,603

  • 10b · Land, buildings and equipment: accumulated depreciation

    $3,040,213

  • 10c · Land, buildings and equipment, net

    beginning of year $12,352,507 · end of year $11,829,390

  • 11 · Investments: publicly traded securities

    beginning of year $31,274,385 · end of year $28,563,513

  • 12 · Investments: other securities

    beginning of year $1,511,758 · end of year $1,269,634

  • 13 · Investments: program-related

    beginning of year $1,311,949 · end of year $1,334,733

  • 15 · Other assets

    beginning of year $3,470,292 · end of year $3,674,975

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,648,461 · end of year $2,660,696

  • 18 · Grants payable

    beginning of year $5,500 · end of year $1,000

  • 25 · Other liabilities

    beginning of year $146,279,770 · end of year $153,679,128

  • 31 · Retained earnings, endowment or other funds

    beginning of year $24,624,006 · end of year $26,428,052

Mission and programs · 2023

Mission

WE EXIST TO PROVIDE AFFORDABLE, QUALITY FINANCIAL SERVICES FOR THE MEMBERS OF OUR COMMUNITY.

  • VOLUNTARY, COOPERATIVE, NONPROFIT SAVINGS INSTITUTION WHICH ENCOURAGES THRIFT AMONG THEIR 11,602 MEMBERS BY PROVIDING CREDIT AT A FAIR AND REASONABLE RATE OF INTEREST AND PROVIDING AN OPPORTUNITY TO IMPROVE THEIR ECONOMIC CONDITION.

As filed on the 2023 return.

Listed in Part VII

  • Judy Hadsall

    PRESIDENT

    Total calculated
    $308,800
    From this org
    $290,754
    From related orgs
    $0
    Other
    $18,046
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $240,416
    Bonus
    $24,055
    Other
    $26,283
    Deferred
    $10,727
    Nontaxable benefits
    $7,319
    Filer's total
    $308,800

  • Greg Snyder

    CFO

    Total calculated
    $236,069
    From this org
    $221,389
    From related orgs
    $0
    Other
    $14,680
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $201,756
    Bonus
    $19,633
    Other
    not reported
    Deferred
    $7,506
    Nontaxable benefits
    $7,174
    Filer's total
    $236,069

  • Susan Kasterke

    COO

    Total calculated
    $141,194
    From this org
    $130,211
    From related orgs
    $0
    Other
    $10,983
    Hours/week
    40

  • Andrew Rose

    VP OF IT

    Total calculated
    $123,109
    From this org
    $112,216
    From related orgs
    $0
    Other
    $10,893
    Hours/week
    40

  • Ben Jones

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Max Buetow

    VICE CHAIRMA

    Total calculated
    $0
    Hours/week
    1

  • Jim Blaha

    SECRETARY/TR

    Total calculated
    $0
    Hours/week
    1

  • Kem Reed

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Karl Plumpe

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Joshua Bade

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Deanna Maples

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jeff Parkison

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jake McWay

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
8 November 2024
IRS schema version
2023v5.0
Source object
202413169349305801

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