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Nonprofiteer
← MOWER COUNTY EMPLOYEES CREDIT UNION

Form 990 for tax year 2023

Filed by MOWER COUNTY EMPLOYEES CREDIT UNION.

Totals

Total revenue
$617,314
Total expenses
$549,832
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$573,687
Investment income
$42,720
Other revenue
$907
Total assets, end of year
$11,885,178
Total liabilities, end of year
$11,885,178
Net assets or fund balances, end of year
$0
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$36,185

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: Loan Interest Fees

    total $556,411 · related or exempt $556,411

  • 2b · Program service revenue: Deposit Service Fees

    total $17,276 · related or exempt $17,276

  • 3 · Investment income

    total $42,720 · related or exempt $42,720

  • 8c · Net income from fundraising events

    total $0

  • 11a · Other revenue: NCUA Members United

    total $907 · related or exempt $907

  • 11e · Other revenue, total

    $907

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $60,320

  • 7 · Other salaries and wages

    total $84,168

  • 9 · Other employee benefits

    total $5,322

  • 10 · Payroll taxes

    total $11,578

  • 12 · Advertising and promotion

    total $4,979

  • 13 · Office expenses

    total $107,218

  • 16 · Occupancy

    total $83,911

  • 20 · Interest

    total $170,732

  • 22 · Depreciation, depletion and amortization

    total $9,480

  • 24a · Other expenses: Association Dues

    total $6,070

  • 24b · Other expenses: Member Meeting Expense

    total $2,660

  • 24c · Other expenses: Officer & Director Expense

    total $1,974

  • 24d · Other expenses: Community Donations

    total $1,420

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $149,394 · end of year $46,847

  • 2 · Savings and temporary cash investments

    beginning of year $2,258,265 · end of year $1,603,016

  • 7 · Other notes and loans receivable

    beginning of year $9,734,382 · end of year $9,835,645

  • 9 · Prepaid expenses and deferred charges

    beginning of year $34,637 · end of year $34,430

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

    $285,807

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

    $72,697

  • 10c · Land, buildings and equipment, net

    beginning of year $222,590 · end of year $213,110

  • 15 · Other assets

    beginning of year $141,946 · end of year $152,130

  • 17 · Accounts payable and accrued expenses

    beginning of year $59,520 · end of year $42,350

  • 23 · Secured mortgages and notes payable

    beginning of year $200,000 · end of year $200,000

  • 25 · Other liabilities

    beginning of year $12,281,694 · end of year $11,642,828

Mission and programs · 2023

Mission

Provides deposit and loan services to members encouraging thrift and self reliance among the membership. Creates a source of credit at fair & reasonable rates of interest to improve social conditions.

Activities or mission (Part I)

Encourages thrift among members improving social conditions Offering low rate loans share savings drafts and certificates of deposit

  • Provided 1,631 loans totalling $3,678,850.54 for a year-end total of $11,354,711.26 in loan assets.

    Expenses $11,324 · Revenue $556,411

  • Provided deposit services totalling $4,493,582.83 in share-savings, $747,790.58 in share-draft and $4,723,472.34 in share certificates

    Expenses $24,861 · Revenue $17,276

As filed on the 2023 return.

Listed in Part VII

  • Duane Felt

    Board President

    Total calculated
    $0

  • Mark May

    Board Vice President

    Total calculated
    $0

  • Chris Eastvold

    Board Secretary

    Total calculated
    $0

  • Duane Stanley

    Board Member

    Total calculated
    $0

  • Stephanie Riles

    PresidentCEO

    Total calculated
    $60,320
    From this org
    $60,320
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Thomas Dunlap

    Board Member

    Total calculated
    $0

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
2023
Filed
14 February 2024
IRS schema version
2023v4.0
Source object
202430459349302663

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