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Nonprofiteer
← 0022 HOMELAND CREDIT UNION INC

Form 990 for tax year 2023

Filed by 0022 HOMELAND CREDIT UNION INC.

Totals

Total revenue
$22,775,206
Total expenses
$21,218,757
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$12,914,921
Investment income
$9,860,285
Other revenue
$0
Total assets, end of year
$571,932,886
Total liabilities, end of year
$519,721,412
Net assets or fund balances, end of year
$52,211,474
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 $9,810,400 · related or exempt $9,810,400

  • 2b · Program service revenue: OTHER INCOME

    total $1,188,925 · related or exempt $1,040,841 · unrelated business $148,084

  • 2c · Program service revenue: LENDING-RELATED INCOME

    total $1,002,829 · related or exempt $1,002,829

  • 2d · Program service revenue: FEES & COMMISSIONS

    total $912,767 · related or exempt $912,767

  • 3 · Investment income

    total $9,860,285 · excluded $9,860,285

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $755,681

  • 7 · Other salaries and wages

    total $4,409,902

  • 8 · Pension plan contributions

    total $458,757

  • 10 · Payroll taxes

    total $345,969

  • 11a · Fees: management

    total $943,634

  • 11b · Fees: legal

    total $960

  • 11c · Fees: accounting

    total $102,386

  • 12 · Advertising and promotion

    total $337,446

  • 13 · Office expenses

    total $2,442,145

  • 14 · Information technology

    total $1,086,083

  • 16 · Occupancy

    total $407,681

  • 17 · Travel

    total $91,517

  • 20 · Interest

    total $8,196,399

  • 22 · Depreciation, depletion and amortization

    total $278,611

  • 23 · Insurance

    total $87,124

  • 24a · Other expenses: PROVISION FOR LOAN LOSS

    total $1,003,810

  • 24b · Other expenses: MISC. OPERATING EXPENSE

    total $266,487

  • 24c · Other expenses: PROFESSIONAL FEES

    total $4,165

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,201,469 · end of year $2,929,910

  • 2 · Savings and temporary cash investments

    beginning of year $35,363,774 · end of year $51,254,008

  • 7 · Other notes and loans receivable

    beginning of year $170,874,275 · end of year $179,413,749

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

    $11,104,595

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

    $8,254,383

  • 10c · Land, buildings and equipment, net

    beginning of year $2,343,633 · end of year $2,850,212

  • 11 · Investments: publicly traded securities

    beginning of year $268,506,645 · end of year $298,510,987

  • 12 · Investments: other securities

    beginning of year $24,560,031 · end of year $23,406,187

  • 15 · Other assets

    beginning of year $8,550,471 · end of year $13,567,833

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,134,926 · end of year $3,745,100

  • 23 · Secured mortgages and notes payable

    end of year $20,500,000

  • 25 · Other liabilities

    beginning of year $466,141,213 · end of year $495,476,312

  • 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 $45,124,159 · end of year $52,211,474

Mission and programs · 2023

Mission

THE PURPOSE OF THIS CREDIT UNION SHALL BE TO PROMOTE THRIFT AND TO PROVIDE CREDIT FOR ITS MEMBERS.

  • PROVIDES FINANCIAL SERVICES TO MEMBERS

As filed on the 2023 return.

Listed in Part VII

  • Dennis Miller

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Beth Fowler

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Donald Thompson

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Philip Butchers

    1ST VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Frederick Fairrow II

    2ND VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Dana Widmayer

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mathew Cosenza

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Susan Natoli

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Robert Chemas

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Shayne Poe

    CEO

    Total calculated
    $279,642
    From this org
    $279,642
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $256,109
    Bonus
    $2,150
    Other
    $21,383
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $279,642

  • Heather R Irwin

    VP MEMBER SERVICES

    Total calculated
    $168,291
    From this org
    $168,291
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $166,091
    Bonus
    $2,200
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $168,291

  • Todd J McDonald

    CFO

    Total calculated
    $187,055
    From this org
    $187,055
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $186,205
    Bonus
    $850
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $187,055

  • James H Matthews Jr

    VP IT

    Total calculated
    $120,693
    From this org
    $120,693
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Sondra Butler

    HR DIRECTOR

    Total calculated
    $131,524
    From this org
    $131,524
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

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

  • 2 · Substantiation required before reimbursing expenses
  • 3 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

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
8 November 2024
IRS schema version
2023v5.1
Source object
202423139349302587

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