Skip to content
Nonprofiteer
← CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN

Form 990 for tax year 2022

Filed by CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN.

Totals

Total revenue
$1,424,838
Total expenses
$1,145,514
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$957,535
Investment income
$467,303
Other revenue
$0
Total assets, end of year
$43,137,692
Total liabilities, end of year
$38,464,656
Net assets or fund balances, end of year
$4,673,036
Program services expenses (Part IX)
$1,145,514
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$1,145,514

Program services were 100.0% 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

    total $812,123 · related or exempt $812,123

  • 2b · Program service revenue: INTERCHANGE FEE

    total $73,378 · related or exempt $73,378

  • 2c · Program service revenue: FEE INCOME

    total $72,034 · related or exempt $72,034

  • 3 · Investment income

    total $467,303 · related or exempt $467,303

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $61,729 · program services $61,729

  • 7 · Other salaries and wages

    total $345,842 · program services $345,842

  • 8 · Pension plan contributions

    total $32,235 · program services $32,235

  • 9 · Other employee benefits

    total $67,824 · program services $67,824

  • 10 · Payroll taxes

    total $31,874 · program services $31,874

  • 11c · Fees: accounting

    total $10,594 · program services $10,594

  • 13 · Office expenses

    total $35,284 · program services $35,284

  • 16 · Occupancy

    total $36,753 · program services $36,753

  • 19 · Conferences, conventions and meetings

    total $824 · program services $824

  • 20 · Interest

    total $117,448 · program services $117,448

  • 22 · Depreciation, depletion and amortization

    total $98,131 · program services $98,131

  • 23 · Insurance

    total $159 · program services $159

  • 24a · Other expenses: DATA PROCESSING

    total $100,318 · program services $100,318

  • 24b · Other expenses: ATM FEES

    total $89,138 · program services $89,138

  • 24c · Other expenses: CONSULTANT FEES

    total $36,087 · program services $36,087

  • 24d · Other expenses: TRAVELERS SERVICE CHARGE

    total $26,762 · program services $26,762

  • 24e · All other expenses

    total $54,512 · program services $54,512

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $875,382 · end of year $884,734

  • 2 · Savings and temporary cash investments

    beginning of year $27,399,054 · end of year $25,390,829

  • 5 · Loans and receivables from officers and key people

    beginning of year $48,036 · end of year $160,564

  • 7 · Other notes and loans receivable

    beginning of year $13,654,860 · end of year $14,513,236

  • 9 · Prepaid expenses and deferred charges

    beginning of year $39,359 · end of year $35,400

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

    $2,423,658

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

    $1,075,846

  • 10c · Land, buildings and equipment, net

    beginning of year $1,444,156 · end of year $1,347,812

  • 15 · Other assets

    beginning of year $747,230 · end of year $805,117

  • 17 · Accounts payable and accrued expenses

    beginning of year $300,895 · end of year $235,632

  • 25 · Other liabilities

    beginning of year $38,588,166 · end of year $38,229,024

  • 31 · Retained earnings, endowment or other funds

    beginning of year $5,319,016 · end of year $4,673,036

Mission and programs · 2022

Mission

PROMOTION OF THRIFT AND PROVIDING LOW COST CREDIT FOR ITS MEMBERS THROUGH MUTUAL AND NONPROFIT OPERATIONS.

  • PROMOTION OF THRIFT AND PROVIDING LOW COST CREDIT FOR ITS MEMBERS THROUGH MUTUAL AND NONPROFIT OPERATION.

    Expenses $1,145,514 · Revenue $957,535

As filed on the 2022 return.

Listed in Part VII

  • Hilary Fountain

    MANAGER / CE

    Total calculated
    $72,995
    From this org
    $61,729
    From related orgs
    $0
    Other
    $11,266
    Hours/week
    40

  • Rebecca Farrell

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Susan Gable

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Eldon Seaman

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    1

  • Michael Skinner

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Blaine Tischer

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Jodi Vredenurg

    BOARD MEMBER

    Total calculated
    $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
2022
Filed
23 March 2023
IRS schema version
2022v5.0
Source object
202330969349301718

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.