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Nonprofiteer
← HOLY ROSARY CREDIT UNION

Form 990 for tax year 2023

Filed by HOLY ROSARY CREDIT UNION.

Totals

Total revenue
$4,316,075
Total expenses
$3,652,384
Contributions and grants received
$1,027,965
Grants paid
$0
Program service revenue
$2,940,045
Investment income
$343,692
Other revenue
$4,373
Total assets, end of year
$41,641,288
Total liabilities, end of year
$37,945,900
Net assets or fund balances, end of year
$3,695,388
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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.

  • 1e · Government grants (contributions)

    $739,939

  • 1f · All other contributions, gifts and grants

    $288,026

  • 2a · Program service revenue: INTEREST ON LOANS

    total $2,266,409 · related or exempt $2,266,409

  • 2b · Program service revenue: FEES & OTHER INCOME

    total $665,836 · related or exempt $665,836

  • 2c · Program service revenue: WARRANTY & OTHER INS

    total $7,800 · unrelated business $7,800

  • 3 · Investment income

    total $343,692 · related or exempt $343,692

  • 5 · Royalties

    total $4,373 · related or exempt $4,373

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $114,837

  • 7 · Other salaries and wages

    total $1,066,198

  • 8 · Pension plan contributions

    total $29,551

  • 9 · Other employee benefits

    total $119,945

  • 10 · Payroll taxes

    total $91,701

  • 11b · Fees: legal

    total $6,423

  • 11c · Fees: accounting

    total $61,136

  • 11g · Fees: other

    total $292,666

  • 12 · Advertising and promotion

    total $25,263

  • 13 · Office expenses

    total $548,057

  • 14 · Information technology

    total $138,516

  • 16 · Occupancy

    total $82,136

  • 17 · Travel

    total $6,167

  • 19 · Conferences, conventions and meetings

    total $65,440

  • 20 · Interest

    total $8,872

  • 22 · Depreciation, depletion and amortization

    total $51,020

  • 23 · Insurance

    total $29,077

  • 24a · Other expenses: PROVISION FOR LOAN LOSS

    total $611,031

  • 24b · Other expenses: LOAN SERVICING

    total $206,260

  • 24c · Other expenses: MEMBER DIVIDENDS

    total $53,836

  • 24d · Other expenses: ASSOCIATION DUES

    total $30,792

  • 24e · All other expenses

    total $13,460

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $516,920 · end of year $970,235

  • 2 · Savings and temporary cash investments

    beginning of year $10,197,568 · end of year $6,546,223

  • 7 · Other notes and loans receivable

    beginning of year $27,468,738 · end of year $33,065,867

  • 9 · Prepaid expenses and deferred charges

    beginning of year $109,194 · end of year $89,693

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

    $998,398

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

    $645,868

  • 10c · Land, buildings and equipment, net

    beginning of year $141,857 · end of year $352,530

  • 12 · Investments: other securities

    beginning of year $42,500 · end of year $23,400

  • 15 · Other assets

    beginning of year $502,691 · end of year $593,340

  • 17 · Accounts payable and accrued expenses

    beginning of year $621,934 · end of year $746,076

  • 19 · Deferred revenue

    beginning of year $2,383,487 · end of year $5,724,541

  • 25 · Other liabilities

    beginning of year $32,919,707 · end of year $31,475,283

  • 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 $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $3,054,340 · end of year $3,695,388

Mission and programs · 2023

Mission

HRCU'S MISSION IS CREATING AND PROTECTING OWNERSHIP AND ECONOMIC OPPORTUNITY FOR ALL. THE CREDIT UNION DOES THIS BY PROVIDING RESPONSIBLE FINANCIAL SERVICES AND EDUCATION, LENDING TO INDIVIDUALS, SMALL BUSINESSES AND NONPROFITS, DEVELOPING REAL ESTATE, AND PROVIDING FAIR FINANCIAL PRACTICES.

Activities or mission (Part I)

CREATING AND PROTECTING OWNERSHIP AND ECONOMIC OPPORTUNITY FOR ALL

  • 90% OF LOANS GIVEN WERE DISBURSED TO CDFI LOW-INCOME TARGET POPULATIONS. THE CREDIT UNION TRULY SERVES THE POOR.

  • PROVIDES FINANCIAL AND FINANCIALLY RELATED SERVICES TO 7,225 MEMBERS.

  • PROVIDES A SOURCE OF CREDIT TO MEMBERS AT A FAIR AND REASONABLE RATE OF INTEREST. AS OF DECEMBER 31, 2023, THERE WERE 3,427 LOANS OUTSTANDING TOTALING $33,612,890.

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Donald Cohenour

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Robert Givens

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Salvatore Valenti

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Marquita Miller-Joshua

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Ty Bui

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • James Lysinger

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • T J Jolly

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Simone Curls

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Wim Van Klinken

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Yolanda Nero

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Erica Dobreff

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Michael Carmona

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jesus Huerta

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Carole Wight

    PRESIDENT

    Total calculated
    $114,837
    From this org
    $108,310
    From related orgs
    $0
    Other
    $6,527
    Hours/week
    80

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.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • THE MAGIS FOUNDATION

    501(C)(3) · CHARITABLE FINANCIAL EDUCATION · MO · controlled entity

    Directly controlled by HOLY ROSARY CREDIT UNION

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202403209349317990

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