Totals
- Total revenue
- $18,274,970
- Total expenses
- $12,774,373
- Contributions and grants received
- $0
- Grants paid
- $96,746
- Program service revenue
- $8,685,209
- Investment income
- $9,564,103
- Other revenue
- $25,658
- Total assets, end of year
- $508,496,724
- Total liabilities, end of year
- $444,865,823
- Net assets or fund balances, end of year
- $63,630,901
- 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.
-
2a · Program service revenue: LOAN INCOME
total $5,568,449 · related or exempt $5,568,449
-
2b · Program service revenue: FEE INCOME
total $3,116,760 · related or exempt $3,116,760
-
3 · Investment income
total $9,564,103 · related or exempt $9,564,103
-
11a · Other revenue: FINANCE & INSURANCE
total $21,113 · unrelated business $21,113
-
11b · Other revenue: RENTAL ACTIVITIES
total $4,545 · unrelated business $4,545
-
11e · Other revenue, total
$25,658
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $96,746
-
5 · Compensation of officers, directors and key employees
total $584,324
-
7 · Other salaries and wages
total $3,214,450
-
8 · Pension plan contributions
total $184,512
-
9 · Other employee benefits
total $570,490
-
10 · Payroll taxes
total $287,807
-
11b · Fees: legal
total $34,042
-
11c · Fees: accounting
total $75,394
-
11f · Fees: investment management
total $105,000
-
11g · Fees: other
total $28,815
-
12 · Advertising and promotion
total $575,529
-
13 · Office expenses
total $866,618
-
14 · Information technology
total $754,795
-
16 · Occupancy
total $406,002
-
17 · Travel
total $18,612
-
20 · Interest
total $3,239,051
-
21 · Payments to affiliates
total $16,957
-
22 · Depreciation, depletion and amortization
total $348,540
-
23 · Insurance
total $117,599
-
24a · Other expenses: DEBIT/CREDIT EXPENSES
total $826,086
-
24b · Other expenses: ATM EXPENSES
total $226,413
-
24c · Other expenses: MAINTENANCE
total $204,600
-
24d · Other expenses: PROVISION FOR LOAN LOSS
total $145,111
-
24e · All other expenses
total -$153,120
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,580,737 · end of year $1,351,176
-
2 · Savings and temporary cash investments
beginning of year $58,014,236 · end of year $58,955,496
-
4 · Accounts receivable
beginning of year $504,641 · end of year $898,186
-
7 · Other notes and loans receivable
beginning of year $118,769,875 · end of year $129,471,839
-
9 · Prepaid expenses and deferred charges
beginning of year $282,065 · end of year $201,557
-
10a · Land, buildings and equipment: cost or other basis
$10,423,100
-
10b · Land, buildings and equipment: accumulated depreciation
$5,855,415
-
10c · Land, buildings and equipment, net
beginning of year $4,576,814 · end of year $4,567,685
-
11 · Investments: publicly traded securities
beginning of year $308,835,449 · end of year $284,783,516
-
12 · Investments: other securities
beginning of year $17,522,002 · end of year $17,908,339
-
14 · Intangible assets
beginning of year $39,650
-
15 · Other assets
beginning of year $10,818,305 · end of year $10,358,930
-
17 · Accounts payable and accrued expenses
beginning of year $1,426,285 · end of year $2,133,744
-
25 · Other liabilities
beginning of year $467,539,682 · end of year $442,732,079
-
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 $51,977,807 · end of year $63,630,901
Mission and programs · 2023
Mission
TO BECOME THE PRIMARY FINANCIAL SERVICES PROVIDER FOR OUR MEMBERS THROUGH OUR CONTINUAL EFFORT TO EXEMPLIFY COURTEOUS, RELIABLE, COMPREHENSIVE AND PROMPT SERVICES THAT ARE COMPETITIVE WITH THE MARKET AND CORRESPOND TO THE NEEDS OF OUR MEMBERS.
-
SHARE DRAFTS AND MONEY MARKET ACCOUNTS - $230,906,456
-
SHARE ACCOUNTS - $149,096,759
-
CERTIFICATES OF DEPOSIT - $62,728,864
As filed on the 2023 return.
Listed in Part VII
-
Patrick WhitePATRICK WHITE
CEO
- Total calculated
- $344,759
- From this org
- $318,240
- From related orgs
- $0
- Other
- $26,519
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $299,466
- Bonus
- $2,250
- Other
- $16,524
- Deferred
- $8,474
- Nontaxable benefits
- $18,045
- Filer's total
- $344,759
-
Patrick HagedornPATRICK HAGEDORN
COO/BOARD SECRETARY
- Total calculated
- $24,082
- From this org
- $24,082
- From related orgs
- $0
- Other
- $0
- Hours/week
- 3
-
Jeffrey ClothierJEFFREY CLOTHIER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Patricia R GoochPATRICIA R GOOCH
BOARD PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
Sam ParaschosSAM PARASCHOS
BOARD VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
Joseph EufingerJOSEPH EUFINGER
BOARD TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Andre WeathersANDRE WEATHERS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Daniel FondrenDANIEL FONDREN
VICE PRESIDENT OF FINANCE
- Total calculated
- $215,483
- From this org
- $165,940
- From related orgs
- $0
- Other
- $49,543
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $163,182
- Bonus
- $2,250
- Other
- $508
- Deferred
- $0
- Nontaxable benefits
- $49,543
- Filer's total
- $215,483
-
Jill KruyerJILL KRUYER
VICE PRESIDENT OF MEM SERV
- Total calculated
- $235,330
- From this org
- $161,044
- From related orgs
- $0
- Other
- $74,286
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $158,016
- Bonus
- $2,250
- Other
- $778
- Deferred
- $0
- Nontaxable benefits
- $74,286
- Filer's total
- $235,330
-
Michael FurstMICHAEL FURST
VICE PRESIDENT OF LENDING
- Total calculated
- $168,710
- From this org
- $162,220
- From related orgs
- $0
- Other
- $6,490
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $158,592
- Bonus
- $2,250
- Other
- $1,378
- Deferred
- $0
- Nontaxable benefits
- $6,490
- Filer's total
- $168,710
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
- 1a · Travel for companions
- 1b · Written policy on the line-1a expenses
- 2 · Substantiation required before reimbursing expenses
- 3 · Compensation committee
- 3 · Written employment contract
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
- 4b · Supplemental nonqualified retirement plan
Answered no
- 4a · Severance or change-of-control payment
- 4c · Equity-based compensation arrangement
The filer's explanations (Part III)
- PART I, LINE 4B
- THE CEO, PATRICK WHITE, PARTICIPATES IN A 457(F) DEFERRED COMPENSATION PLAN. AS OF DECEMBER 31, 2023, THE BALANCE OF THE DEFERRED COMPENSATION BENEFIT LIABILITY APPROXIMATED $182,000.
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
-
GENESEE COUNTY MEDICAL SOCIETY
$16,000
CHARITABLE CONTRIBUTION
-
$10,000
CHARITABLE CONTRIBUTION
-
$9,000
CHARITABLE CONTRIBUTION
-
$7,673
CHARITABLE CONTRIBUTION
-
CHARITABLE CONTRIBUTION
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 16 September 2024
- IRS schema version
- 2023v5.1
- Source object
- 202412669349300306
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