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Nonprofiteer
← NORTHRIDGE COMMUNITY CREDIT UNION

Form 990 for tax year 2023

Filed by NORTHRIDGE COMMUNITY CREDIT UNION.

Totals

Total revenue
$8,252,675
Total expenses
$6,085,106
Contributions and grants received
$303,699
Grants paid
$2,075
Program service revenue
$7,717,170
Investment income
$197,240
Other revenue
$34,566
Total assets, end of year
$104,756,237
Total liabilities, end of year
$91,714,312
Net assets or fund balances, end of year
$13,041,925
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

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.

  • 1f · All other contributions, gifts and grants

    $303,699

  • 2a · Program service revenue: INTEREST ON LOANS

    total $5,645,266 · related or exempt $5,645,266

  • 2b · Program service revenue: MEMBER FEE INCOME

    total $1,444,819 · related or exempt $1,444,819

  • 2c · Program service revenue: OTHER MEMBER RELATED REVENUE

    total $612,419 · related or exempt $612,419

  • 2d · Program service revenue: FEE & INSURANCE INCOME

    total $14,666 · unrelated business $14,666

  • 3 · Investment income

    total $200,816 · excluded $200,816

  • 5 · Royalties

    total $11,346 · excluded $11,346

  • 6a · Gross rents

    real property $23,220

  • 6c · Rental income or loss

    real property $23,220

  • 6d · Net rental income or loss

    total $23,220 · excluded $23,220

  • 7a · Gross sales of assets other than inventory

    other assets $16,924

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

    other assets $20,500

  • 7c · Gain or loss

    other assets -$3,576

  • 7d · Net gain or loss

    total -$3,576 · related or exempt -$3,576

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $100

  • 2 · Grants to domestic individuals

    total $1,975

  • 5 · Compensation of officers, directors and key employees

    total $366,013

  • 7 · Other salaries and wages

    total $1,358,584

  • 8 · Pension plan contributions

    total $32,928

  • 9 · Other employee benefits

    total $108,716

  • 10 · Payroll taxes

    total $132,911

  • 11b · Fees: legal

    total $7,445

  • 11c · Fees: accounting

    total $51,538

  • 11g · Fees: other

    total $97,412

  • 12 · Advertising and promotion

    total $94,623

  • 13 · Office expenses

    total $1,222,956

  • 14 · Information technology

    total $220,280

  • 16 · Occupancy

    total $229,862

  • 19 · Conferences, conventions and meetings

    total $71,677

  • 20 · Interest

    total $347,665

  • 22 · Depreciation, depletion and amortization

    total $244,990

  • 23 · Insurance

    total $40,338

  • 24a · Other expenses: DIVIDENDS EXPENSE

    total $848,730

  • 24b · Other expenses: LOAN LOSS EXPENSE

    total $766,894

  • 24c · Other expenses: LOAN SERVICING EXPENSE

    total $116,627

  • 24d · Other expenses: GRANT EXPENDITURES

    total $3,699

  • 24e · All other expenses

    total -$280,857

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,787,990 · end of year $2,896,652

  • 2 · Savings and temporary cash investments

    beginning of year $6,466,739 · end of year $7,323,302

  • 4 · Accounts receivable

    beginning of year $58,433 · end of year $125

  • 7 · Other notes and loans receivable

    beginning of year $72,698,298 · end of year $79,982,716

  • 9 · Prepaid expenses and deferred charges

    beginning of year $92,570 · end of year $167,313

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

    $8,890,623

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

    $2,643,165

  • 10c · Land, buildings and equipment, net

    beginning of year $5,485,622 · end of year $6,247,458

  • 13 · Investments: program-related

    beginning of year $8,416,735 · end of year $6,816,276

  • 15 · Other assets

    beginning of year $1,076,612 · end of year $1,322,395

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,170,156 · end of year $1,207,535

  • 21 · Escrow or custodial account liability

    beginning of year $207,376 · end of year $181,285

  • 24 · Unsecured notes and loans payable

    beginning of year $8,000,000 · end of year $7,000,000

  • 25 · Other liabilities

    beginning of year $77,054,230 · end of year $83,325,492

  • 31 · Retained earnings, endowment or other funds

    beginning of year $10,651,237 · end of year $13,041,925

Mission and programs · 2023

Mission

OUR PURPOSE IS TO SUPPORT THE PEOPLE IN OUR COMMUNITIES; TO ENCOURAGE THEIR LEARNING AND UNDERSTANDING OF THEIR UNIQUE FINANCIAL SITUATIONS AND PROVIDE TOOLS FOR OUR MEMBERS TO REACH THEIR DREAMS.

  • THE CREDIT UNION HAS VARIOUS TYPES OF DEPOSIT ACCOUNTS AVAILABLE FOR OUR MEMBERS. WE OPENED 2,454 NEW DEPOSIT ACCOUNTS IN 2023. AS OF 12/31/23 WE HAD 7,222 MEMBERS.

  • THE CREDIT UNION HAS SEVERAL TYPES OF LOAN PROGRAMS AVAILABLE FOR OUR MEMBERS. WE FUNDED 2,024 NEW LOANS DURING 2023. AS OF 12/31/23 WE HAD 4,995 LOANS RECEIVABLE.

As filed on the 2023 return.

Listed in Part VII

  • Nicholas Mathiowetz

    PRES/CEO & S

    Total calculated
    $139,041
    From this org
    $126,560
    From related orgs
    $0
    Other
    $12,481
    Hours/week
    40

  • Mildred Wells-Boyer

    VP LENDING

    Total calculated
    $106,856
    From this org
    $103,891
    From related orgs
    $0
    Other
    $2,965
    Hours/week
    40

  • Elizabeth Popp

    VP OPERATION

    Total calculated
    $105,832
    From this org
    $101,500
    From related orgs
    $0
    Other
    $4,332
    Hours/week
    40

  • Winifred Koivisto

    VP ACCOUNTIN

    Total calculated
    $35,034
    From this org
    $34,062
    From related orgs
    $0
    Other
    $972
    Hours/week
    40

  • Susan Sowers

    CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • Cassandra Hainey

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • Nancee Ronne

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Mary Fleetwood

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Ryan Rediske

    DIRECTOR

    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
24 October 2024
IRS schema version
2023v5.0
Source object
202433069349300033

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