Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: Member Loan Interest Income

  total $10,621,179 · related or exempt $10,621,179

• 2b · Program service revenue: Other Account Fees and Charges

  total $2,279,113 · related or exempt $2,271,606 · unrelated business $7,507

• 2c · Program service revenue: Program Fees

  total $1,166,993 · related or exempt $1,166,993

• 2d · Program service revenue: Investment in CU Prodigy

  total $3,885 · unrelated business $3,885

• 3 · Investment income

  total $1,018,250 · excluded $1,018,250

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $108,188

• 2 · Grants to domestic individuals

  total $3,000

• 5 · Compensation of officers, directors and key employees

  total $930,250

• 7 · Other salaries and wages

  total $2,475,478

• 8 · Pension plan contributions

  total $347,395

• 9 · Other employee benefits

  total $505,003

• 10 · Payroll taxes

  total $231,929

• 11b · Fees: legal

  total $45,677

• 11c · Fees: accounting

  total $54,000

• 11g · Fees: other

  total $1,067,439

• 12 · Advertising and promotion

  total $410,471

• 13 · Office expenses

  total $2,072,910

• 14 · Information technology

  total $118,525

• 16 · Occupancy

  total $257,909

• 17 · Travel

  total $102,938

• 20 · Interest

  total $52

• 22 · Depreciation, depletion and amortization

  total $377,565

• 23 · Insurance

  total $98,958

• 24a · Other expenses: Dividends Expense

  total $3,105,299

• 24b · Other expenses: Provision for Loan Loss

  total $579,740

• 24c · Other expenses: Other non-interest expe

  total $216,003

• 24d · Other expenses: Association Dues

  total $70,095

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,239,287 · end of year $1,472,041

• 2 · Savings and temporary cash investments

  beginning of year $8,254,594 · end of year $17,100,163

• 4 · Accounts receivable

  beginning of year $1,167 · end of year $3,942

• 5 · Loans and receivables from officers and key people

  beginning of year $1,527,536 · end of year $1,404,567

• 7 · Other notes and loans receivable

  beginning of year $175,234,315 · end of year $187,252,091

• 9 · Prepaid expenses and deferred charges

  beginning of year $812,227 · end of year $796,433

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

  $10,972,538

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

  $2,215,333

• 10c · Land, buildings and equipment, net

  beginning of year $8,262,005 · end of year $8,757,205

• 12 · Investments: other securities

  beginning of year $14,226,000 · end of year $17,138,000

• 15 · Other assets

  beginning of year $5,238,969 · end of year $6,611,861

• 17 · Accounts payable and accrued expenses

  beginning of year $418,116 · end of year $387,454

• 25 · Other liabilities

  beginning of year $195,395,766 · end of year $218,597,884

• 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 $18,982,218 · end of year $21,550,965

The filer's explanations (Part III)

Part I, Line 4b

The Organization deposited funds into a life insurance policy on the participant's life. During life, and subject to the policy generating sufficient values, the participant can borrow from the policy. At death, the organization recovers its premiums plus additional key-person insurance proceeds. There were no related amounts included as compensation for Trisha Baker during 2023.