Form 990 for tax year 2023
Filed by CREDIT UNIONS IN THE STATE OF NEW MEXICO.
Totals
- Total revenue
- $3,995,477
- Total expenses
- $3,981,773
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $2,567,696
- Investment income
- $522,791
- Other revenue
- $904,990
- Total assets, end of year
- $65,849,910
- Total liabilities, end of year
- $57,156,574
- Net assets or fund balances, end of year
- $8,693,336
- Program services expenses (Part IX)
- $3,981,773
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- not reported
Program services were 100.0% 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 $2,567,696 · unrelated business $0 · excluded $0
-
3 · Investment income
total $522,791 · unrelated business $0 · excluded $0
-
11a · Other revenue: FEES AND CHARGES
total $880,713 · related or exempt $774,683 · unrelated business $106,030 · excluded $0
-
11b · Other revenue: OTHER GAINS
total $24,277 · related or exempt $24,277 · unrelated business $0 · excluded $0
-
11e · Other revenue, total
$904,990
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $220,255 · program services $220,255 · management and general $0 · fundraising $0
-
7 · Other salaries and wages
total $853,045 · program services $853,045 · management and general $0 · fundraising $0
-
8 · Pension plan contributions
total $64,944 · program services $64,944 · management and general $0 · fundraising $0
-
9 · Other employee benefits
total $175,817 · program services $175,817 · management and general $0 · fundraising $0
-
10 · Payroll taxes
total $80,486 · program services $80,486 · management and general $0 · fundraising $0
-
11b · Fees: legal
total $119,722 · program services $119,722 · management and general $0 · fundraising $0
-
11c · Fees: accounting
total $105,479 · program services $105,479 · management and general $0 · fundraising $0
-
11g · Fees: other
total $121,348 · program services $121,348 · management and general $0 · fundraising $0
-
12 · Advertising and promotion
total $67,508 · program services $67,508 · management and general $0 · fundraising $0
-
13 · Office expenses
total $173,976 · program services $173,976 · management and general $0 · fundraising $0
-
14 · Information technology
total $285,997 · program services $285,997 · management and general $0 · fundraising $0
-
16 · Occupancy
total $74,328 · program services $74,328 · management and general $0 · fundraising $0
-
19 · Conferences, conventions and meetings
total $8,569 · program services $8,569 · management and general $0 · fundraising $0
-
20 · Interest
total $36,791 · program services $36,791 · management and general $0 · fundraising $0
-
22 · Depreciation, depletion and amortization
total $185,424 · program services $185,424 · management and general $0 · fundraising $0
-
23 · Insurance
total $51,038 · program services $51,038 · management and general $0 · fundraising $0
-
24a · Other expenses: LOAN SERVICING
total $66,320 · program services $66,320 · management and general $0 · fundraising $0
-
24b · Other expenses: DEBIT & CREDIT CARD SERVICES
total $101,146 · program services $101,146 · management and general $0 · fundraising $0
-
24c · Other expenses: LOAN LOSS PROVISION
total $308,230 · program services $308,230 · management and general $0 · fundraising $0
-
24d · Other expenses: DIVIDENDS PAID
total $621,628 · program services $621,628 · management and general $0 · fundraising $0
-
24e · All other expenses
total $259,722 · program services $259,722 · management and general $0 · fundraising $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,154,784 · end of year $934,565
-
2 · Savings and temporary cash investments
beginning of year $37,099,711 · end of year $34,079,619
-
4 · Accounts receivable
beginning of year $40,008
-
5 · Loans and receivables from officers and key people
beginning of year $62,527 · end of year $38,138
-
7 · Other notes and loans receivable
beginning of year $25,981,442 · end of year $27,390,429
-
9 · Prepaid expenses and deferred charges
beginning of year $173,845 · end of year $124,524
-
10a · Land, buildings and equipment: cost or other basis
$3,349,093
-
10b · Land, buildings and equipment: accumulated depreciation
$1,839,762
-
10c · Land, buildings and equipment, net
beginning of year $1,699,983 · end of year $1,509,331
-
15 · Other assets
beginning of year $833,102 · end of year $1,773,304
-
17 · Accounts payable and accrued expenses
beginning of year $627,487 · end of year $2,103,423
-
25 · Other liabilities
beginning of year $57,036,878 · end of year $55,053,151
-
31 · Retained earnings, endowment or other funds
beginning of year $9,381,037 · end of year $8,693,336
Mission and programs · 2023
Mission
PROVIDING DEPOSIT & LOAN PRODUCTS & SERVICES TO MEMBERS OF THE ORGANIZATION
-
THE CREDIT UNION PROVIDED MEMBERS A VARIETY OF BANKING SERVICES INCLUDING LOANS AT COMPETETIVE RATES
-
THE CREDIT UNION RETURNED EARNINGS OF CLOSE TO $365,000 TO ITS MEMBERS IN THE FORM OF DIVIDENDS
-
THE CREDIT UNION INCRESED ITS MEMBER EQUITY POSITION BY APPROXIMATELY $996,000 DURING 2020
As filed on the 2023 return.
Listed in Part VII
-
Mary GoldsmithMARY GOLDSMITH
CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
Dave OlsenDAVE OLSEN
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
Susan KentSUSAN KENT
MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
David JohnsonDAVID JOHNSON
MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
George WrightGEORGE WRIGHT
MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Tammy ValdezTAMMY VALDEZ
MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Gerald WheelerGERALD WHEELER
MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Pam VegaPAM VEGA
FORMER CEO
- Total calculated
- $147,242
- From this org
- $147,242
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $147,242
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $147,242
-
Deanna SchlensigDEANNA SCHLENSIG
CEO/TREASURER
- Total calculated
- $73,013
- From this org
- $73,013
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
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
None.
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
- 24 June 2024
- IRS schema version
- 2023v5.1
- Source object
- 202411939349301206
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