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Nonprofiteer
← 261 THE CLEVELAND POLICE CREDIT UNION INC

Form 990 for tax year 2022

Filed by 261 THE CLEVELAND POLICE CREDIT UNION INC.

Totals

Total revenue
$1,744,381
Total expenses
$1,617,965
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,506,074
Investment income
$247,477
Other revenue
-$9,170
Total assets, end of year
$43,235,629
Total liabilities, end of year
$39,455,529
Net assets or fund balances, end of year
$3,780,100
Program services expenses (Part IX)
$1,208,757
Management and general expenses
$409,208
Fundraising expenses
$0
Program service expenses (Part III)
$1,208,757

Program services were 74.7% 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 to members

    total $870,144 · related or exempt $870,144 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: Fees to members

    total $635,390 · related or exempt $635,390 · unrelated business $0 · excluded $0

  • 2c · Program service revenue: Check cashing for nonmembers

    total $540 · related or exempt $0 · unrelated business $540 · excluded $0

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $247,477 · related or exempt $247,477 · 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

  • 6a · Gross rents

    real property $4,980 · personal property $0

  • 6b · Less rental expenses

    real property $14,150 · personal property $0

  • 6c · Rental income or loss

    real property -$9,170 · personal property $0

  • 6d · Net rental income or loss

    total -$9,170 · related or exempt $0 · unrelated business -$9,170 · excluded $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 · program services $0

  • 2 · Grants to domestic individuals

    total $0 · program services $0

  • 3 · Grants to foreign organizations and individuals

    total $0 · program services $0

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $173,993 · program services $56,287 · management and general $117,706 · fundraising $0

  • 6 · Compensation of disqualified persons

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 7 · Other salaries and wages

    total $298,975 · program services $201,208 · management and general $97,767 · fundraising $0

  • 8 · Pension plan contributions

    total $30,447 · program services $23,665 · management and general $6,782 · fundraising $0

  • 9 · Other employee benefits

    total $183,512 · program services $99,908 · management and general $83,604 · fundraising $0

  • 10 · Payroll taxes

    total $37,144 · program services $23,880 · management and general $13,264 · fundraising $0

  • 11a · Fees: management

    total $14,814 · program services $0 · management and general $14,814 · fundraising $0

  • 11b · Fees: legal

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11c · Fees: accounting

    total $15,750 · program services $0 · management and general $15,750 · fundraising $0

  • 11d · Fees: lobbying

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11e · Fees: professional fundraising services

    total $0 · fundraising $0

  • 11f · Fees: investment management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11g · Fees: other

    total $3,767 · program services $3,767 · management and general $0 · fundraising $0

  • 12 · Advertising and promotion

    total $9,114 · program services $9,114 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $68,669 · program services $68,669 · management and general $0 · fundraising $0

  • 14 · Information technology

    total $215,496 · program services $215,496 · management and general $0 · fundraising $0

  • 15 · Royalties

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $97,468 · program services $86,638 · management and general $10,830 · fundraising $0

  • 17 · Travel

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 18 · Travel or entertainment for public officials

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $18,377 · program services $6,983 · management and general $11,394 · fundraising $0

  • 20 · Interest

    total $14,359 · program services $14,359 · management and general $0 · fundraising $0

  • 21 · Payments to affiliates

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $66,230 · program services $59,275 · management and general $6,955 · fundraising $0

  • 23 · Insurance

    total $24,628 · program services $24,628 · management and general $0 · fundraising $0

  • 24a · Other expenses: Share servicing (ATM, debit, draft)

    total $209,123 · program services $209,123 · management and general $0 · fundraising $0

  • 24b · Other expenses: Loan servicing (mortgage, collection)

    total $105,757 · program services $105,757 · management and general $0 · fundraising $0

  • 24c · Other expenses: Regulators

    total $8,439 · program services $0 · management and general $8,439 · fundraising $0

  • 24e · All other expenses

    total $21,903 · program services $0 · management and general $21,903 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $978,363 · end of year $919,200

  • 2 · Savings and temporary cash investments

    beginning of year $11,953,023 · end of year $3,436,566

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $52,772 · end of year $103,764

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $15,242,603 · end of year $16,139,910

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $16,252 · end of year $21,871

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

    $1,682,568

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

    $877,033

  • 10c · Land, buildings and equipment, net

    beginning of year $824,032 · end of year $805,535

  • 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 $10,099,183 · end of year $16,929,401

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $4,658,125 · end of year $4,879,382

  • 17 · Accounts payable and accrued expenses

    beginning of year $321,705 · end of year $434,517

  • 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 $229,877

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $39,848,964 · end of year $38,791,135

  • 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 $3,653,684 · end of year $3,780,100

Mission and programs · 2022

Mission

The purpose of the Cleveland Police Credit Union is to serve the financial needs of our members with personal service, competitive rates, and to provide the best financial services at the most efficient cost while at the same time maintaining a sound financial position.

Activities or mission (Part I)

Cleveland Police Credit Union is a financial institution cooperative organized to provide loan and deposit products and services for its member owners.

  • The organization is a state chartered member owned cooperative credit union that provides financial services and products to the member owners.

    Expenses $1,208,757 · Revenue $1,753,011

  • Loan Servicing Expense

  • Dividend and Interest paid to members

  • All other program expenses.

  • Benefits paid to members - Life Savings

As filed on the 2022 return.

Listed in Part VII

  • Yolanda Roldan

    Manager

    Total calculated
    $165,918
    From this org
    $96,818
    From related orgs
    $0
    Other
    $69,100
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $84,818
    Bonus
    $12,000
    Other
    $0
    Deferred
    $40,250
    Nontaxable benefits
    $28,800
    Filer's total
    $165,868

  • Regina Kelley

    Assistant Manager

    Total calculated
    $97,987
    From this org
    $56,287
    From related orgs
    $0
    Other
    $41,700
    Hours/week
    40

  • Gary Cugini

    Secretary / Treasurer

    Total calculated
    $20,888
    From this org
    $20,888
    From related orgs
    $0
    Other
    $0
    Hours/week
    15

  • Roy Rich

    President

    Total calculated
    $0
    Hours/week
    1

  • Timothy Leahy

    Vice President

    Total calculated
    $0
    Hours/week
    1

  • Keith Scharf

    Director

    Total calculated
    $0
    Hours/week
    1

  • Thomas McGuire

    Director

    Total calculated
    $0
    Hours/week
    1

  • Joseph Chojnowski

    Director

    Total calculated
    $0
    Hours/week
    1

  • Daniel Rowley

    Director

    Total calculated
    $0
    Hours/week
    1

  • Robert Simon

    Director

    Total calculated
    $0
    Hours/week
    1

  • David Swan

    Director

    Total calculated
    $0
    Hours/week
    1

  • Brian Betley

    Director

    Total calculated
    $0
    Hours/week
    1

  • James O'Malley

    Director

    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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation survey or study
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

Schedule J, Part I, Line 4
The Credit Union has a written deferred compensation program approved by the Board of Directors. $68,748 was accrued deferred compensation in 2022, of which $40,250 was for the Manager Yolanda Roldan. No funds were distributed to any employee from this plan in 2022.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • Blue Line Financial Services Inc Cleveland Police Credit Union

    C · Financial Planning · OH · 100% owned

Provenance

Return type
form_990
Tax year
2022
Filed
9 May 2023
IRS schema version
2022v5.0
Source object
202321309349304932

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