Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: LOAN INTEREST

  total $5,501,545 · related or exempt $5,501,545

• 2b · Program service revenue: FEE INCOME

  total $3,227,181 · related or exempt $3,144,568 · unrelated business $82,613

• 3 · Investment income

  total $1,149,656 · excluded $1,149,656

• 7a · Gross sales of assets other than inventory

  other assets $39,018

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

  other assets $30,882

• 7c · Gain or loss

  other assets $8,136

• 7d · Net gain or loss

  total $8,136 · excluded $8,136

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $17,000

• 4 · Benefits paid to or for members

  total $1,086,329

• 5 · Compensation of officers, directors and key employees

  total $987,710

• 7 · Other salaries and wages

  total $1,783,629

• 8 · Pension plan contributions

  total $71,329

• 9 · Other employee benefits

  total $427,268

• 10 · Payroll taxes

  total $224,231

• 11b · Fees: legal

  total $10,919

• 11c · Fees: accounting

  total $83,046

• 11g · Fees: other

  total $362,225

• 12 · Advertising and promotion

  total $258,542

• 13 · Office expenses

  total $337,662

• 14 · Information technology

  total $91,313

• 16 · Occupancy

  total $274,086

• 17 · Travel

  total $45,590

• 19 · Conferences, conventions and meetings

  total $52,834

• 21 · Payments to affiliates

  total $19,772

• 22 · Depreciation, depletion and amortization

  total $310,870

• 23 · Insurance

  total $59,554

• 24a · Other expenses: DEBIT/CREDIT CARD EXPEN

  total $941,160

• 24b · Other expenses: OTHER EXPENSES

  total $564,781

• 24c · Other expenses: LOAN EXPENSES

  total $243,325

• 24d · Other expenses: PROVISION FOR LOAN LOSS

  total $211,446

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,901,812 · end of year $1,563,884

• 2 · Savings and temporary cash investments

  beginning of year $13,014,628 · end of year $13,417,641

• 4 · Accounts receivable

  beginning of year $93,455 · end of year $566,460

• 7 · Other notes and loans receivable

  beginning of year $103,876,561 · end of year $98,752,907

• 9 · Prepaid expenses and deferred charges

  beginning of year $440,931 · end of year $333,807

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

  $5,821,085

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

  $2,801,038

• 10c · Land, buildings and equipment, net

  beginning of year $3,081,578 · end of year $3,020,047

• 12 · Investments: other securities

  beginning of year $19,165,228 · end of year $21,300,679

• 13 · Investments: program-related

  beginning of year $683,100 · end of year $603,400

• 15 · Other assets

  beginning of year $2,430,716 · end of year $2,641,419

• 17 · Accounts payable and accrued expenses

  beginning of year $3,246,078 · end of year $3,082,120

• 25 · Other liabilities

  beginning of year $128,058,107 · end of year $124,498,347

• 29 · Capital stock, trust principal or current funds

  beginning of year $0 · end of year $0

• 30 · Paid-in or capital surplus, or land, building or equipment fund

  beginning of year $5,470,834 · end of year $5,470,834

• 31 · Retained earnings, endowment or other funds

  beginning of year $7,912,990 · end of year $9,148,943

The filer's explanations (Part III)

PART I, LINE 3

THE ANNUAL NAFCU AND GALLAGHER COMPENSATION AND BENEFITS REPORT, CU PERFORMANCE SOLUTIONS COMPEASE SYSTEM WITH BENCHMARKED JOBS ARE BOTH RESOURCES FOR COMPARISON.