Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: INTEREST ON LOANS

  total $90,259,602 · related or exempt $90,259,602

• 2b · Program service revenue: FEE INCOME

  total $27,063,150 · related or exempt $27,063,150

• 2c · Program service revenue: INSURANCE COMMISSIONS

  total $2,229,839 · related or exempt $1,236,600 · unrelated business $993,239

• 2d · Program service revenue: ATM SURCHARGE FEES

  total $238,732 · unrelated business $238,732

• 2e · Program service revenue: WARRANTY FEES

  total $51,795 · related or exempt $51,795

• 2f · All other program service revenue

  total $2,120,247 · related or exempt $2,120,247

• 3 · Investment income

  total $8,102,593 · excluded $8,102,593

• 6a · Gross rents

  real property $212,129

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $212,129

• 6d · Net rental income or loss

  total $212,129 · excluded $212,129

• 7a · Gross sales of assets other than inventory

  securities $11,369 · other assets $35,174,000

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

  securities $0 · other assets $34,174,760

• 7c · Gain or loss

  securities $11,369 · other assets $999,240

• 7d · Net gain or loss

  total $1,010,609 · excluded $1,010,609

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $258,828

• 2 · Grants to domestic individuals

  total $30,000

• 5 · Compensation of officers, directors and key employees

  total $2,509,864

• 7 · Other salaries and wages

  total $26,469,787

• 8 · Pension plan contributions

  total $1,970,043

• 9 · Other employee benefits

  total $3,543,686

• 10 · Payroll taxes

  total $2,252,175

• 11b · Fees: legal

  total $159,939

• 11c · Fees: accounting

  total $360,949

• 11g · Fees: other

  total $1,283,837

• 12 · Advertising and promotion

  total $1,857,540

• 13 · Office expenses

  total $5,191,906

• 14 · Information technology

  total $6,789,848

• 16 · Occupancy

  total $2,134,828

• 17 · Travel

  total $757,047

• 20 · Interest

  total $5,212,755

• 22 · Depreciation, depletion and amortization

  total $3,511,551

• 24a · Other expenses: INCOME TAX EXPENSE

  total $49,258

• 24b · Other expenses: DIVIDENDS PAID TO MEMBE

  total $29,938,034

• 24c · Other expenses: PROVISION FOR LOAN LOSS

  total $16,030,413

• 24d · Other expenses: VISA CARD EXPENSES

  total $6,156,412

• 24e · All other expenses

  total $5,025,513

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $112,121,654 · end of year $178,922,687

• 4 · Accounts receivable

  beginning of year $922,558 · end of year $19,009,538

• 5 · Loans and receivables from officers and key people

  beginning of year $18,337,942 · end of year $17,371,308

• 7 · Other notes and loans receivable

  beginning of year $1,667,617,011 · end of year $1,664,539,890

• 9 · Prepaid expenses and deferred charges

  beginning of year $5,693,364 · end of year $6,322,230

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

  $79,804,235

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

  $23,167,049

• 10c · Land, buildings and equipment, net

  beginning of year $54,572,510 · end of year $56,637,186

• 11 · Investments: publicly traded securities

  beginning of year $126,670,639 · end of year $142,979,801

• 12 · Investments: other securities

  beginning of year $25,328,018 · end of year $28,229,645

• 14 · Intangible assets

  beginning of year $1,923,867 · end of year $1,829,267

• 15 · Other assets

  beginning of year $22,441,047 · end of year $23,366,257

• 17 · Accounts payable and accrued expenses

  beginning of year $22,543,546 · end of year $26,419,845

• 21 · Escrow or custodial account liability

  beginning of year $58,764 · end of year $43,620

• 23 · Secured mortgages and notes payable

  beginning of year $167,451,150 · end of year $122,000,000

• 25 · Other liabilities

  beginning of year $1,681,422,251 · end of year $1,815,502,858

• 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 $164,152,899 · end of year $175,241,486

The filer's explanations (Part III)

PART I, LINE 1A

IN TAX YEAR 2023, IH MISSISSIPPI VALLEY CREDIT UNION (THE CREDIT UNION) INCURRED GOLF MEMBERSHIP DUES FOR LISA MILANO, BRIAN LAUFENBERG, ANN MCMILLAN, ANDREW GROTHE, AJAY SINGH, CHAD ERVIN, AND JUSTIN JOHNSON. THE AMOUNTS ARE INCLUDED IN REPORTABLE COMPENSATION IN PART VII AND SCHEDULE J. IN TAX YEAR 2023, THE CREDIT UNION REIMBURSED CERTAIN TRAVEL EXPENSES FOR THE COMPANIONS OF BRIAN LAUFENBERG, TIM CONSIDINE, SAM KUPRESIN, JEFF CARR, LARRY WEIMERS, CHIP IRWIN, TOM KALE, AND MATT MENDENHALL. THE AMOUNTS ARE INCLUDED IN REPORTABLE COMPENSATION IN PART VII AND SCHEDULE J.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• MEMBERS FINANCIAL LLC

  HOLDING COMPANY · IL · income $1,319 · assets $3,431,231

  Directly controlled by IH MISSISSIPPI VALLEY CREDIT UNION

• MEMBERS PROPERTY MANAGEMENT LLC

  PROPERTY MANAGEMENT · IL · income $56,048 · assets $2,726,548

  Directly controlled by MEMBERS FINANCIAL LLC

• MEMBERS INSURANCE SERVICES LLC

  INSURANCE · IL · income $318,288 · assets $678,774

  Directly controlled by MEMBERS FINANCIAL LLC

• MEMBERS AUTO SOLUTIONS

  AUTO SOLUTIONS · IL · income -$53,387 · assets $132,846

  Directly controlled by MEMBERS FINANCIAL LLC