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Nonprofiteer
← PARK SIDE FINANCIAL CREDIT UNION

Form 990 for tax year 2023

Filed by PARK SIDE FINANCIAL CREDIT UNION.

Totals

Total revenue
$19,753,566
Total expenses
$19,298,291
Contributions and grants received
$0
Grants paid
$55,569
Program service revenue
$18,815,832
Investment income
$893,089
Other revenue
$44,645
Total assets, end of year
$397,774,451
Total liabilities, end of year
$368,508,499
Net assets or fund balances, end of year
$29,265,952
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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 $14,662,435 · related or exempt $14,662,435

  • 2b · Program service revenue: FEES AND CHARGES

    total $4,153,397 · related or exempt $4,019,867 · unrelated business $133,530

  • 3 · Investment income

    total $880,447 · excluded $880,447

  • 6a · Gross rents

    real property $44,645

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $44,645

  • 6d · Net rental income or loss

    total $44,645 · excluded $44,645

  • 7a · Gross sales of assets other than inventory

    securities $2,123,537 · other assets $74,104

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

    securities $2,112,487 · other assets $72,512

  • 7c · Gain or loss

    securities $11,050 · other assets $1,592

  • 7d · Net gain or loss

    total $12,642 · excluded $12,642

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $55,569

  • 5 · Compensation of officers, directors and key employees

    total $933,277

  • 7 · Other salaries and wages

    total $4,835,256

  • 8 · Pension plan contributions

    total $295,313

  • 9 · Other employee benefits

    total $643,805

  • 10 · Payroll taxes

    total $412,224

  • 11b · Fees: legal

    total $4,872

  • 11c · Fees: accounting

    total $137,332

  • 11g · Fees: other

    total $1,262,650

  • 12 · Advertising and promotion

    total $600,127

  • 13 · Office expenses

    total $854,666

  • 16 · Occupancy

    total $442,034

  • 19 · Conferences, conventions and meetings

    total $105,871

  • 20 · Interest

    total $887,232

  • 22 · Depreciation, depletion and amortization

    total $574,136

  • 23 · Insurance

    total $105,120

  • 24a · Other expenses: DIVIDENDS ON MEMBER SHA

    total $4,139,180

  • 24b · Other expenses: CREDIT CARD & TRANSACTI

    total $1,379,917

  • 24c · Other expenses: ATM EXPENSE

    total $791,578

  • 24d · Other expenses: PROVISION FOR LOAN LOSS

    total $344,341

  • 24e · All other expenses

    total $493,791

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $7,888,760 · end of year $7,695,087

  • 2 · Savings and temporary cash investments

    beginning of year $7,933,962 · end of year $5,874,068

  • 4 · Accounts receivable

    beginning of year $906,827 · end of year $960,131

  • 5 · Loans and receivables from officers and key people

    beginning of year $2,823,847 · end of year $2,873,265

  • 7 · Other notes and loans receivable

    beginning of year $328,325,962 · end of year $314,276,567

  • 9 · Prepaid expenses and deferred charges

    beginning of year $692,010 · end of year $777,072

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

    $17,893,239

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

    $6,057,208

  • 10c · Land, buildings and equipment, net

    beginning of year $11,998,144 · end of year $11,836,031

  • 11 · Investments: publicly traded securities

    beginning of year $36,014,303 · end of year $32,760,303

  • 12 · Investments: other securities

    beginning of year $18,159,091 · end of year $12,855,032

  • 14 · Intangible assets

    beginning of year $7,810 · end of year $0

  • 15 · Other assets

    beginning of year $8,612,763 · end of year $7,866,895

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,535,713 · end of year $1,381,065

  • 23 · Secured mortgages and notes payable

    beginning of year $25,000,000 · end of year $22,000,000

  • 24 · Unsecured notes and loans payable

    beginning of year $3,041,250 · end of year $3,000,000

  • 25 · Other liabilities

    beginning of year $365,055,108 · end of year $342,127,434

  • 29 · Capital stock, trust principal or current funds

    beginning of year $4,396,347 · end of year $4,396,347

  • 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 $24,335,061 · end of year $24,869,605

Mission and programs · 2023

Mission

WE WILL BE THE BEST PLACE FOR THE PEOPLE OF WESTERN MONTANA TO GET A LOAN.

Activities or mission (Part I)

PARK SIDE IS A NOT FOR PROFIT FINANCIAL COOPERATIVE THAT PROVIDES FINANCIAL SERVICES TO ITS MEMBERS.

  • PARK SIDE FINANCIAL CREDIT UNION IS A MEMBER-OWNED CO-OPERATIVE OFFERING A DIVERSE VARIETY OF FINANCIAL SERVICES TO ITS MEMBERS. ITS PRIMARY FINANCIAL SERVICES ARE PROVIDING REAL ESTATE LOANS, CONSUMER LOANS, CHECKING ACCOUNTS, SAVINGS ACCOUNTS, AND TIME DEPOSITS TO ITS MEMBERS.AT DECEMBER 31, 2023 PARK SIDE FINANCIAL CREDIT UNION HAS 51,515 TRANSACTIONAL DEPOSIT ACCOUNTS WITH A VALUE OF $235,157,126.AT DECEMBER 31, 2023 PARK SIDE FINANCIAL CREDIT UNION HAS 2,494 TIME DEPOSIT ACCOUNTS WITH A VALUE OF $106,678,399.AT DECEMBER 31, 2023 PARK SIDE FINANCIAL CREDIT UNION HAS 1,251 REAL ESTATE LOANS WITH A VALUE OF $182,938,668.

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Jeremy Presta

    CEO

    Total calculated
    $348,726
    From this org
    $308,783
    From related orgs
    $0
    Other
    $39,943
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $276,853
    Bonus
    $25,793
    Other
    $6,137
    Deferred
    $18,303
    Nontaxable benefits
    $21,640
    Filer's total
    $348,726

  • Troy Brackey

    CFO

    Total calculated
    $325,340
    From this org
    $296,638
    From related orgs
    $0
    Other
    $28,702
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $276,819
    Bonus
    $19,819
    Other
    $0
    Deferred
    $15,545
    Nontaxable benefits
    $13,157
    Filer's total
    $325,340

  • Maureen Bryan

    SENIOR VP OF HR

    Total calculated
    $259,211
    From this org
    $236,872
    From related orgs
    $0
    Other
    $22,339
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $218,861
    Bonus
    $16,009
    Other
    $2,002
    Deferred
    $1,716
    Nontaxable benefits
    $20,623
    Filer's total
    $259,211

  • Carol Beniger

    VP OF LENDING

    Total calculated
    $175,067
    From this org
    $141,005
    From related orgs
    $0
    Other
    $34,062
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $122,639
    Bonus
    $18,366
    Other
    $0
    Deferred
    $10,466
    Nontaxable benefits
    $23,596
    Filer's total
    $175,067

  • Josh Kroll

    VP OF MARKETING

    Total calculated
    $164,549
    From this org
    $132,404
    From related orgs
    $0
    Other
    $32,145
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $114,271
    Bonus
    $17,873
    Other
    $260
    Deferred
    $9,707
    Nontaxable benefits
    $22,438
    Filer's total
    $164,549

  • Laura Scoville

    VP OF BACK OFFICE OPS.

    Total calculated
    $163,509
    From this org
    $132,066
    From related orgs
    $0
    Other
    $31,443
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $110,365
    Bonus
    $17,461
    Other
    $4,240
    Deferred
    $9,952
    Nontaxable benefits
    $21,491
    Filer's total
    $163,509

  • Alisa McConkey

    VP OF OPERATIONS

    Total calculated
    $161,927
    From this org
    $128,485
    From related orgs
    $0
    Other
    $33,442
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $111,265
    Bonus
    $16,957
    Other
    $263
    Deferred
    $9,524
    Nontaxable benefits
    $23,918
    Filer's total
    $161,927

  • Teresa Short

    VP OF IT

    Total calculated
    $152,778
    From this org
    $133,728
    From related orgs
    $0
    Other
    $19,050
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $115,751
    Bonus
    $17,977
    Other
    $0
    Deferred
    $9,673
    Nontaxable benefits
    $9,377
    Filer's total
    $152,778

  • Carl Thomas

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Rick Flink

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Scott Roberts

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Terry Thorpe

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Dick Green

    DIRECTOR (THRU 3/23)

    Total calculated
    $0
    Hours/week
    1

  • Ron Jarosch

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Diana Lamers

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Rich Pederson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Daria Perez

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dave Sutherland

    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

  • 1a · Tax indemnification and gross-up payments
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 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)

PART I, LINE 1A
GROSS UP ON GIFT CARDS; CAROL BENIGER; INCLUDED IN TAXABLE COMPENSATION GROSS UP ON GIFT CARDS; LAURA SCOVILLE; INCLUDED IN TAXABLE COMPENSATION
PART I, LINE 4B
JEREMY PRESTA PARTICIPATES IN A SPLIT DOLLAR LIFE INSURANCE AGREEMENT WITH THE ORGANIZATION. JEREMY DID NOT RECEIVE ANY DISTRIBUTIONS FROM THIS PLAN DURING 2023.

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.

Provenance

Return type
form_990
Tax year
2023
Filed
15 August 2024
IRS schema version
2023v5.1
Source object
202422549349300017

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