Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $55,686

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

  total $29,936,288 · related or exempt $29,936,288

• 3 · Investment income

  total $4,210,027 · excluded $4,210,027

• 6a · Gross rents

  real property $24,152

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $24,152

• 6d · Net rental income or loss

  total $24,152 · excluded $24,152

• 7a · Gross sales of assets other than inventory

  securities $6,458,579

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

  securities $6,425,653

• 7c · Gain or loss

  securities $32,926

• 7d · Net gain or loss

  total $32,926 · excluded $32,926

• 8a · Fundraising events: gross income

  $7,589

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

  $55,686

• 8b · Fundraising events: direct expenses

  $7,589

• 8c · Net income from fundraising events

  total $0

• 11a · Other revenue: SERVICE CHARGES AND FEES

  total $4,646,969 · related or exempt $4,646,969

• 11b · Other revenue: OTHER INCOME

  total $716,910 · related or exempt $716,910

• 11c · Other revenue: ORGANIZATION FEES

  total $127,330 · unrelated business $127,330

• 11d · All other revenue

  total $60,422 · unrelated business $60,422

• 11e · Other revenue, total

  $5,551,631

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $200,599

• 4 · Benefits paid to or for members

  total $13,779,480

• 5 · Compensation of officers, directors and key employees

  total $1,259,162

• 7 · Other salaries and wages

  total $7,922,524

• 8 · Pension plan contributions

  total $360,833

• 9 · Other employee benefits

  total $2,202,613

• 11b · Fees: legal

  total $30,577

• 11c · Fees: accounting

  total $116,965

• 11f · Fees: investment management

  total $12,944

• 11g · Fees: other

  total $1,671,001

• 12 · Advertising and promotion

  total $529,327

• 13 · Office expenses

  total $391,565

• 14 · Information technology

  total $761,853

• 16 · Occupancy

  total $1,157,312

• 17 · Travel

  total $489,546

• 19 · Conferences, conventions and meetings

  total $767

• 20 · Interest

  total $123,003

• 22 · Depreciation, depletion and amortization

  total $1,123,549

• 23 · Insurance

  total $158,290

• 24a · Other expenses: PROVISION FOR LOAN LOSS

  total $3,329,540

• 24b · Other expenses: SUPERVISION & EXAMINATI

  total $1,852,126

• 24c · Other expenses: LOAN SERVICING & COLLEC

  total $1,104,939

• 24d · Other expenses: EDUCATION

  total $114,173

• 24e · All other expenses

  total $63,879

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $5,278,933 · end of year $5,096,263

• 2 · Savings and temporary cash investments

  beginning of year $72,477,110 · end of year $28,166,400

• 5 · Loans and receivables from officers and key people

  beginning of year $12,334,750 · end of year $10,331,604

• 7 · Other notes and loans receivable

  beginning of year $402,520,879 · end of year $505,375,680

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

  $23,067,863

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

  $8,390,594

• 10c · Land, buildings and equipment, net

  beginning of year $14,323,991 · end of year $14,677,269

• 11 · Investments: publicly traded securities

  beginning of year $97,585,802 · end of year $93,527,090

• 12 · Investments: other securities

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

• 15 · Other assets

  beginning of year $38,435,752 · end of year $44,651,049

• 17 · Accounts payable and accrued expenses

  beginning of year $2,864,423 · end of year $2,668,156

• 24 · Unsecured notes and loans payable

  end of year $18,000,000

• 25 · Other liabilities

  beginning of year $585,749,066 · end of year $619,242,099

• 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 $54,453,728 · end of year $62,025,100

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 2024.

PART I, LINE 3

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