Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $55,840

• 2a · Program service revenue: LOAN INCOME FROM MEMBERS

  total $21,860,081 · related or exempt $21,860,081

• 3 · Investment income

  total $3,199,103 · excluded $3,199,103

• 6a · Gross rents

  real property $41,218

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $41,218

• 6d · Net rental income or loss

  total $41,218 · excluded $41,218

• 7a · Gross sales of assets other than inventory

  securities $10,302,305

• 7b · Less cost or other basis and sales expenses

  securities $10,294,384

• 7c · Gain or loss

  securities $7,921

• 7d · Net gain or loss

  total $7,921 · excluded $7,921

• 8a · Fundraising events: gross income

  $7,015

• 8a · Fundraising events: contributions included on line 1c

  $55,840

• 8b · Fundraising events: direct expenses

  $7,015

• 8c · Net income from fundraising events

  total $0

• 11a · Other revenue: SERVICE CHARGES AND FEES

  total $4,134,614 · related or exempt $4,134,614

• 11b · Other revenue: OTHER INCOME

  total $790,648 · related or exempt $790,648

• 11c · Other revenue: INSURANCE FEES

  total $86,101 · unrelated business $86,101

• 11d · All other revenue

  total $56,146 · unrelated business $56,146

• 11e · Other revenue, total

  $5,067,509

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $202,037

• 4 · Benefits paid to or for members

  total $7,021,981

• 5 · Compensation of officers, directors and key employees

  total $1,507,718

• 7 · Other salaries and wages

  total $6,725,855

• 8 · Pension plan contributions

  total $332,986

• 9 · Other employee benefits

  total $2,050,472

• 11b · Fees: legal

  total $29,346

• 11c · Fees: accounting

  total $80,578

• 11f · Fees: investment management

  total $12,650

• 11g · Fees: other

  total $1,534,516

• 12 · Advertising and promotion

  total $645,645

• 13 · Office expenses

  total $376,592

• 14 · Information technology

  total $642,701

• 16 · Occupancy

  total $1,034,786

• 17 · Travel

  total $414,081

• 19 · Conferences, conventions and meetings

  total $2,179

• 22 · Depreciation, depletion and amortization

  total $1,015,717

• 23 · Insurance

  total $141,745

• 24a · Other expenses: PROVISION FOR LOAN LOSS

  total $1,928,021

• 24b · Other expenses: SUPERVISION & EXAMINATI

  total $1,671,436

• 24c · Other expenses: LOAN SERVICING & COLLEC

  total $1,258,287

• 24d · Other expenses: EDUCATION

  total $112,600

• 24e · All other expenses

  total $40,368

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $4,361,142 · end of year $5,278,933

• 2 · Savings and temporary cash investments

  beginning of year $59,291,121 · end of year $72,477,110

• 5 · Loans and receivables from officers and key people

  beginning of year $0 · end of year $12,334,750

• 7 · Other notes and loans receivable

  beginning of year $361,360,311 · end of year $402,520,879

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

  $22,262,257

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

  $7,938,266

• 10c · Land, buildings and equipment, net

  beginning of year $11,962,436 · end of year $14,323,991

• 11 · Investments: publicly traded securities

  beginning of year $106,560,002 · end of year $97,585,802

• 12 · Investments: other securities

  beginning of year $110,000 · end of year $110,000

• 15 · Other assets

  beginning of year $43,052,182 · end of year $38,435,752

• 17 · Accounts payable and accrued expenses

  beginning of year $1,961,935 · end of year $2,864,423

• 25 · Other liabilities

  beginning of year $532,948,812 · end of year $585,749,066

• 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 $51,786,447 · end of year $54,453,728

The filer's explanations (Part III)

PART I, LINE 1A

TRAVEL FOR SPOUSES IS OFFERED TO BOARD MEMBERS ATTENDING CERTAIN EVENTS. 1099S ARE PROVIDED IF THE AMOUNT OF TRAVEL EXCEEDS $600 DURING THE YEAR. THERE WERE NO INSTANCES WHERE THIS HAPPENED IN 2023.

PART I, LINE 3

BOARD OF DIRECTORS USES DATA PROVIDED BY OUR SALARY ADMINISTRATION SYSTEM.

PART I, LINE 4A

457(B) PLAN - PAYMENTS RECEIVED BY FORMER EMPLOYEE, DUNCAN MACKELLAR, 2023 TOTAL: $11,160 SEVERANCE PAYMENTS WERE RECEIVED BY THE FOLLOWING FORMER EMPLOYEES DURING 2023: ANGELA HARVEY $5,030 ERIN CAMPBELL $55,261 ADAM KAVANAGH $50,000 ARIEL CARON $2,552