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Nonprofiteer
← BROKAW CREDIT UNION

Form 990 for tax year 2022

Filed by BROKAW CREDIT UNION.

Totals

Total revenue
$2,760,795
Total expenses
$2,468,232
Contributions and grants received
$11,000
Grants paid
$500
Program service revenue
$1,951,743
Investment income
$790,862
Other revenue
$7,190
Total assets, end of year
$70,995,731
Total liabilities, end of year
$65,244,429
Net assets or fund balances, end of year
$5,751,302
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

    $11,000

  • 2a · Program service revenue: INTEREST ON LOANS

    total $1,280,909 · related or exempt $1,280,909

  • 2b · Program service revenue: MEMBER FEE INCOME

    total $428,709 · related or exempt $428,709

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

    total $237,629 · related or exempt $237,629

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

    total $3,811 · unrelated business $3,811

  • 2e · Program service revenue: CVR/DMV FEE INCOME

    total $685 · unrelated business $685

  • 3 · Investment income

    total $677,192 · excluded $677,192

  • 5 · Royalties

    total $7,190 · excluded $7,190

  • 7a · Gross sales of assets other than inventory

    other assets $150,644

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

    other assets $36,974

  • 7c · Gain or loss

    other assets $113,670

  • 7d · Net gain or loss

    total $113,670 · related or exempt $113,670

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $500

  • 5 · Compensation of officers, directors and key employees

    total $165,558

  • 7 · Other salaries and wages

    total $618,407

  • 8 · Pension plan contributions

    total $37,065

  • 9 · Other employee benefits

    total $78,643

  • 10 · Payroll taxes

    total $59,210

  • 11b · Fees: legal

    total $4,793

  • 11c · Fees: accounting

    total $15,150

  • 12 · Advertising and promotion

    total $126,864

  • 13 · Office expenses

    total $380,382

  • 14 · Information technology

    total $367,972

  • 16 · Occupancy

    total $50,768

  • 17 · Travel

    total $758

  • 19 · Conferences, conventions and meetings

    total $8,373

  • 22 · Depreciation, depletion and amortization

    total $138,423

  • 23 · Insurance

    total $24,495

  • 24a · Other expenses: LOAN SERVICING

    total $258,321

  • 24b · Other expenses: DIVIDEND EXPENSE

    total $104,814

  • 24c · Other expenses: PROVISION LOAN LOSS

    total $16,736

  • 24d · Other expenses: GRANT EXPENDITURES

    total $11,000

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $552,881 · end of year $690,325

  • 2 · Savings and temporary cash investments

    beginning of year $30,476,660 · end of year $29,038,120

  • 7 · Other notes and loans receivable

    beginning of year $28,491,696 · end of year $31,248,455

  • 9 · Prepaid expenses and deferred charges

    beginning of year $155,969 · end of year $95,655

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

    $1,849,395

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

    $1,250,274

  • 10c · Land, buildings and equipment, net

    beginning of year $418,530 · end of year $599,121

  • 13 · Investments: program-related

    beginning of year $8,929,178 · end of year $8,207,252

  • 15 · Other assets

    beginning of year $1,141,008 · end of year $1,116,803

  • 17 · Accounts payable and accrued expenses

    beginning of year $293,062 · end of year $1,433,023

  • 21 · Escrow or custodial account liability

    beginning of year $127,418 · end of year $107,927

  • 25 · Other liabilities

    beginning of year $64,286,703 · end of year $63,703,479

  • 31 · Retained earnings, endowment or other funds

    beginning of year $5,458,739 · end of year $5,751,302

Mission and programs · 2022

Mission

IN A CARING, COOPERATIVE MANNER, PROVIDE MEMBERS WITH AFFORDABLE, INNOVATIVE, QUALITY PRODUCTS AND SERVICES WHILE ESTABLISHING LIFELONG RELATIONSHIPS.

  • THE CREDIT UNION HAS VARIOUS TYPES OF DEPOSIT ACCOUNTS AVAILABLE FOR OUR MEMBERS. WE OPENED 542 NEW DEPOSIT ACCOUNTS IN 2022. AS OF 12/31/22 WE HAD 5,684 MEMBERS.

  • THE CREDIT UNION HAS SEVERAL TYPES OF LOAN PROGRAMS AVAILABLE FOR OUR MEMBERS. WE FUNDED 617 NEW LOANS TO OUR MEMBERS DURING 2022. AS OF 12/31/22 WE HAD 2,395 LOANS TO OUR MEMBERS.

As filed on the 2022 return.

Listed in Part VII

  • Lori Berry

    PRESIDENT/CE

    Total calculated
    $102,495
    From this org
    $88,388
    From related orgs
    $0
    Other
    $14,107
    Hours/week
    40

  • Roger Krause

    ACCOUNTING M

    Total calculated
    $102,294
    From this org
    $72,795
    From related orgs
    $0
    Other
    $29,499
    Hours/week
    40

  • Sandy Oestreich

    CHAIR

    Total calculated
    $1,305
    From this org
    $1,305
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.75

  • Gwyn Leu

    SECRETARY

    Total calculated
    $910
    From this org
    $910
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.75

  • Mark Golding

    VICE CHAIR

    Total calculated
    $540
    From this org
    $540
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.5

  • Richard Burch

    TREASURER

    Total calculated
    $495
    From this org
    $495
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.5

  • Terry Radtke

    DIRECTOR

    Total calculated
    $495
    From this org
    $495
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.5

  • Steve Frazier

    DIRECTOR

    Total calculated
    $405
    From this org
    $405
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.5

  • Tara Smith

    DIRECTOR

    Total calculated
    $225
    From this org
    $225
    From related orgs
    $0
    Other
    $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
2022
Filed
30 March 2023
IRS schema version
2022v5.0
Source object
202321019349301662

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