Form 990 for tax year 2023
Filed by DEER RIVER COOPERATIVE CREDIT UNION.
Totals
- Total revenue
- $1,190,897
- Total expenses
- $958,098
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $983,657
- Investment income
- $207,240
- Other revenue
- $0
- Total assets, end of year
- $26,505,496
- Total liabilities, end of year
- $24,208,715
- Net assets or fund balances, end of year
- $2,296,781
- Program services expenses (Part IX)
- $0
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $247,284
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 INCOME
total $897,427 · related or exempt $897,427
-
2b · Program service revenue: SHARE DRAFT FEES
total $74,317 · related or exempt $73,381 · unrelated business $936
-
2c · Program service revenue: MISC OPERATING SERVICE
total $11,913 · related or exempt $9,820 · unrelated business $2,093
-
3 · Investment income
total $207,240 · related or exempt $207,240
-
8c · Net income from fundraising events
total $0
Functional expenses
Part IX, the statement of functional expenses.
-
4 · Benefits paid to or for members
total $250,891
-
5 · Compensation of officers, directors and key employees
total $101,971
-
7 · Other salaries and wages
total $168,872
-
8 · Pension plan contributions
total $11,527
-
9 · Other employee benefits
total $66,921
-
10 · Payroll taxes
total $19,915
-
11c · Fees: accounting
total $12,988
-
12 · Advertising and promotion
total $16,660
-
13 · Office expenses
total $119,202
-
14 · Information technology
total $79,388
-
16 · Occupancy
total $32,511
-
19 · Conferences, conventions and meetings
total $1,251
-
20 · Interest
total $9,051
-
22 · Depreciation, depletion and amortization
total $37,444
-
23 · Insurance
total $21,019
-
24a · Other expenses: MISC EXP
total -$980
-
24b · Other expenses: LEAGUE DUES
total $9,467
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $300,100 · end of year $223,484
-
2 · Savings and temporary cash investments
beginning of year $6,219,687 · end of year $3,938,962
-
5 · Loans and receivables from officers and key people
beginning of year $659,070 · end of year $765,627
-
7 · Other notes and loans receivable
beginning of year $17,788,114 · end of year $20,527,652
-
9 · Prepaid expenses and deferred charges
beginning of year $25,339 · end of year $27,409
-
10a · Land, buildings and equipment: cost or other basis
$358,845
-
10b · Land, buildings and equipment: accumulated depreciation
$37,444
-
10c · Land, buildings and equipment, net
beginning of year $357,924 · end of year $321,401
-
15 · Other assets
beginning of year $573,786 · end of year $700,961
-
17 · Accounts payable and accrued expenses
beginning of year $29,136 · end of year $31,057
-
25 · Other liabilities
beginning of year $23,783,402 · end of year $24,177,658
-
31 · Retained earnings, endowment or other funds
beginning of year $2,111,482 · end of year $2,296,781
Mission and programs · 2023
Mission
TO SERVICE MEMBERS OF THE COMMUNITY FOR THEIR FINANCIAL NEEDS
-
DIVIDEND SHARES $203,667.00 DIVIDEND CHECKING $18,849 DIVIDEND IRA $7,022.00 DIVIDEND CERT OF DEPOSIT $17,649.00 DIVIDEND IRA CERT OF DEPOSIT $97.00
Expenses $247,284
As filed on the 2023 return.
Listed in Part VII
-
Barbara GundersonBARBARA GUNDERSON
BOARD MEMBER
- Total calculated
- $950
- From this org
- $950
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1
-
Charles IsaacsCHARLES ISAACS
BOARD CHAIR
- Total calculated
- $1,090
- From this org
- $1,090
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1
-
Larry NixonLARRY NIXON
BOARD MEMBER
- Total calculated
- $870
- From this org
- $870
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1
-
Michael NynasMICHAEL NYNAS
BOARD MEMBER
- Total calculated
- $1,093
- From this org
- $1,093
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1
-
Nicole OsseNICOLE OSSE
BOARD MEMBER
- Total calculated
- $928
- From this org
- $928
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1
-
Maureen ReuterMAUREEN REUTER
SUPERVISORY COMMITTEE
- Total calculated
- $2,045
- From this org
- $2,045
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1
-
Mary GoggleyeMARY GOGGLEYE
PRESIDENT
- Total calculated
- $94,195
- From this org
- $94,195
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Lydia WhiteLYDIA WHITE
SUPERVISORY COMMITTEE
- Total calculated
- $820
- From this org
- $820
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1
-
Susan DewittSUSAN DEWITT
SUPERVISORY COMMITTEE
- Total calculated
- $2,360
- From this org
- $2,360
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1
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
- 2023
- Filed
- 30 April 2024
- IRS schema version
- 2023v5.0
- Source object
- 202421219349302077
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