Form 990 for tax year 2023
Filed by 422 HEEKIN CAN EMPLOYEES CREDIT UNION INC.
Totals
- Total revenue
- $25,716
- Total expenses
- $38,509
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $20,098
- Investment income
- $5,618
- Other revenue
- $0
- Total assets, end of year
- $420,262
- Total liabilities, end of year
- $161,721
- Net assets or fund balances, end of year
- $258,541
- Program services expenses (Part IX)
- $0
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $0
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 on Loans
total $19,073 · related or exempt $19,073 · unrelated business $0 · excluded $0
-
2b · Program service revenue: Fees and Charges
total $1,025 · related or exempt $1,025 · unrelated business $0 · excluded $0
-
2f · All other program service revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
3 · Investment income
total $5,618 · related or exempt $5,618 · unrelated business $0 · excluded $0
-
4 · Income from investment of tax-exempt bond proceeds
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
5 · Royalties
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
6c · Rental income or loss
real property $0 · personal property $0
-
7c · Gain or loss
securities $0 · other assets $0
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $13,200
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $10,800
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $0
-
10 · Payroll taxes
total $2,115
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $0
-
11c · Fees: accounting
total $4,378
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $0
-
12 · Advertising and promotion
total $0
-
13 · Office expenses
total $1,317
-
14 · Information technology
total $1,923
-
15 · Royalties
total $0
-
16 · Occupancy
total $0
-
17 · Travel
total $0
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $137
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $0
-
23 · Insurance
total $1,087
-
24a · Other expenses: Miscellaneous Operating Expenses
total $1,153
-
24b · Other expenses: Credit Report Expenses
total $1,083
-
24c · Other expenses: Supervisory Fee
total $664
-
24d · Other expenses: Provision for Loan Loss
total $500
-
24e · All other expenses
total $152
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $55,262 · end of year $64,790
-
2 · Savings and temporary cash investments
beginning of year $26,720 · end of year $28,048
-
3 · Pledges and grants receivable
beginning of year $0 · end of year $0
-
4 · Accounts receivable
beginning of year $0 · end of year $0
-
5 · Loans and receivables from officers and key people
beginning of year $3,442 · end of year $5,011
-
6 · Loans and receivables from disqualified persons
beginning of year $0 · end of year $0
-
7 · Other notes and loans receivable
beginning of year $186,637 · end of year $155,710
-
8 · Inventories for sale or use
beginning of year $0 · end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $2,428 · end of year $2,445
-
11 · Investments: publicly traded securities
beginning of year $0 · end of year $0
-
12 · Investments: other securities
beginning of year $0 · end of year $0
-
13 · Investments: program-related
beginning of year $7,787 · end of year $7,787
-
14 · Intangible assets
beginning of year $0 · end of year $0
-
15 · Other assets
beginning of year $153,520 · end of year $156,471
-
17 · Accounts payable and accrued expenses
beginning of year $3,453 · end of year $4,174
-
18 · Grants payable
beginning of year $0 · end of year $0
-
19 · Deferred revenue
beginning of year $0 · end of year $0
-
20 · Tax-exempt bond liabilities
beginning of year $0 · end of year $0
-
21 · Escrow or custodial account liability
beginning of year $0 · end of year $0
-
22 · Loans and payables to officers and key people
beginning of year $0 · end of year $0
-
23 · Secured mortgages and notes payable
beginning of year $0 · end of year $0
-
24 · Unsecured notes and loans payable
beginning of year $0 · end of year $0
-
25 · Other liabilities
beginning of year $161,009 · end of year $157,547
-
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 $271,334 · end of year $258,541
Mission and programs · 2023
Mission
A financial institution (credit union) organized to provide its members with low interest loans and to promote savings to its members.
Activities or mission (Part I)
A financial institution (credit union) organized to provide its members with low interest loans and to promote savings.
-
Loan products offered by the credit union include new and used vehicle loans, recreational vehicle loans and unsecured loans. The credit union approved 13 loans totaling $77,150 in 2023 at competitive loan rates.
-
The credit union serviced their 110 members by providing deposit services for regular share accounts.
-
The credit union paid dividends on share accounts held by the credit union's 110 members.
As filed on the 2023 return.
Listed in Part VII
-
Brian McFarland
Treasurer
- Total calculated
- $13,200
- From this org
- $13,200
- From related orgs
- $0
- Other
- $0
- Hours/week
- 0.5
-
Elizabeth Morris
Board Member
- Total calculated
- $0
- Hours/week
- 0.5
-
Daniel Bell
Secretary
- Total calculated
- $0
- Hours/week
- 0.75
-
Sally O'Day
Vice President
- Total calculated
- $0
- Hours/week
- 0.5
-
Jim Taylor
President
- Total calculated
- $0
- Hours/week
- 0.5
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
- 29 February 2024
- IRS schema version
- 2023v4.0
- Source object
- 202410619349300191
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