Skip to content
Nonprofiteer
← RACINE MUNICIPAL EMPLOYEES CREDIT UNION

Form 990 for tax year 2024

Filed by RACINE MUNICIPAL EMPLOYEES CREDIT UNION.

Totals

Total revenue
$1,113,341
Total expenses
$947,327
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$909,392
Investment income
$200,189
Other revenue
$3,760
Total assets, end of year
$22,033,940
Total liabilities, end of year
$19,191,502
Net assets or fund balances, end of year
$2,842,438
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

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: INTEREST ON LOANS

    total $709,650 · related or exempt $709,650

  • 2b · Program service revenue: OTHER MEMBER RELATED INCOME

    total $133,285 · related or exempt $133,285

  • 2c · Program service revenue: MEMBER FEE INCOME

    total $66,457 · related or exempt $66,457

  • 3 · Investment income

    total $200,189 · excluded $200,189

  • 5 · Royalties

    total $3,760 · excluded $3,760

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $79,064

  • 7 · Other salaries and wages

    total $178,223

  • 8 · Pension plan contributions

    total $13,692

  • 9 · Other employee benefits

    total $5,552

  • 10 · Payroll taxes

    total $20,334

  • 11b · Fees: legal

    total $3,141

  • 11c · Fees: accounting

    total $22,571

  • 11g · Fees: other

    total $1,029

  • 12 · Advertising and promotion

    total $14,209

  • 13 · Office expenses

    total $195,122

  • 14 · Information technology

    total $74,563

  • 16 · Occupancy

    total $15,241

  • 19 · Conferences, conventions and meetings

    total $15,812

  • 20 · Interest

    total $397

  • 22 · Depreciation, depletion and amortization

    total $8,404

  • 23 · Insurance

    total $16,755

  • 24a · Other expenses: DIVIDENDS EXPENSE

    total $125,521

  • 24b · Other expenses: CREDIT LOSS EXPENSE

    total $120,753

  • 24c · Other expenses: LOAN SERVICING EXPENSE

    total $36,944

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $270,504 · end of year $241,416

  • 2 · Savings and temporary cash investments

    beginning of year $2,885,321 · end of year $4,231,493

  • 7 · Other notes and loans receivable

    beginning of year $16,246,970 · end of year $15,404,327

  • 9 · Prepaid expenses and deferred charges

    beginning of year $32,396 · end of year $20,630

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

    $639,296

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

    $562,845

  • 10c · Land, buildings and equipment, net

    beginning of year $78,890 · end of year $76,451

  • 13 · Investments: program-related

    beginning of year $1,634,917 · end of year $1,834,917

  • 15 · Other assets

    beginning of year $141,282 · end of year $224,706

  • 17 · Accounts payable and accrued expenses

    beginning of year $197,272 · end of year $188,243

  • 25 · Other liabilities

    beginning of year $18,416,584 · end of year $19,003,259

  • 31 · Retained earnings, endowment or other funds

    beginning of year $2,676,424 · end of year $2,842,438

Mission and programs · 2024

Mission

TO EXCEL IN PROVIDING SERVICES TO PRESENT AND PROSPECTIVE MEMBERS IN A FRIENDLY AND HELPFUL MANNER, WHILE MAINTAINING THE CREDIT UNION'S LONG-TERM FINANCIAL STABILITY.

  • THE CREDIT UNION HAS VARIOUS TYPES OF DEPOSIT ACCOUNTS AVAILABLE FOR OUR MEMBERS. WE OPENED 231 NEW DEPOSIT ACCOUNTS IN 2024. AS OF 12/31/24 WE HAD 1,878 MEMBERS.

  • THE CREDIT UNION HAS SEVERAL TYPES OF LOAN PROGRAMS AVAILABLE FOR OUR MEMBERS. WE FUNDED 285 NEW LOANS DURING 2024. AS OF 12/31/24 WE HAD 1,138 LOANS RECEIVABLE.

As filed on the 2024 return.

Listed in Part VII

  • Nicole Christensen-Zabler

    PRESIDENT/CE

    Total calculated
    $88,819
    From this org
    $79,064
    From related orgs
    $0
    Other
    $9,755
    Hours/week
    42

  • Scott Sharp

    CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • Willie McDonald

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • Daniel Dematthew

    TREASURER

    Total calculated
    $0
    Hours/week
    0.5

  • Carolyn Moskonas

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Jose Carbajal

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Terry Maier

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Chavan Smith

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

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
2024
Filed
8 May 2025
IRS schema version
2024v5.0
Source object
202501329349305305

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.