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← CREDIT UNIONS IN THE STATE OF CALIFORNIA

Form 990 for tax year 2023

Filed by CREDIT UNIONS IN THE STATE OF CALIFORNIA.

Totals

Total revenue
$1,169,833
Total expenses
$1,126,293
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$873,465
Investment income
$296,368
Other revenue
$0
Total assets, end of year
$25,795,154
Total liabilities, end of year
$23,798,216
Net assets or fund balances, end of year
$1,996,938
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 $618,910 · related or exempt $618,910

  • 2b · Program service revenue: OTHER OPERATING INCOME

    total $206,966 · related or exempt $206,925 · unrelated business $41

  • 2c · Program service revenue: FEE INCOME

    total $47,589 · related or exempt $47,589

  • 3 · Investment income

    total $296,368 · related or exempt $296,368

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $101,000

  • 7 · Other salaries and wages

    total $131,994

  • 8 · Pension plan contributions

    total $2,467

  • 9 · Other employee benefits

    total $53,675

  • 10 · Payroll taxes

    total $20,452

  • 11b · Fees: legal

    total $4,950

  • 11c · Fees: accounting

    total $51,462

  • 11g · Fees: other

    total $25,378

  • 12 · Advertising and promotion

    total $13,188

  • 13 · Office expenses

    total $306,181

  • 14 · Information technology

    total $157,748

  • 16 · Occupancy

    total $100,957

  • 17 · Travel

    total $1,331

  • 20 · Interest

    total $122,935

  • 22 · Depreciation, depletion and amortization

    total $3,247

  • 23 · Insurance

    total $1,970

  • 24a · Other expenses: LOAN SERVICING EXPENSE

    total $20,533

  • 24b · Other expenses: OPERATING FEES

    total $6,066

  • 24c · Other expenses: MISC. OPERATING FEES

    total $759

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,233 · end of year $16,102

  • 2 · Savings and temporary cash investments

    beginning of year $1,352,795 · end of year $1,238,680

  • 9 · Prepaid expenses and deferred charges

    beginning of year $72,029 · end of year $56,403

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

    $143,467

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

    $138,179

  • 10c · Land, buildings and equipment, net

    beginning of year $4,955 · end of year $5,288

  • 11 · Investments: publicly traded securities

    beginning of year $12,005,534 · end of year $11,317,941

  • 13 · Investments: program-related

    beginning of year $13,331,861 · end of year $12,733,221

  • 15 · Other assets

    beginning of year $355,680 · end of year $427,519

  • 17 · Accounts payable and accrued expenses

    beginning of year $217,599 · end of year $209,071

  • 25 · Other liabilities

    beginning of year $25,221,204 · end of year $23,589,145

  • 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 $1,688,284 · end of year $1,996,938

Mission and programs · 2023

Mission

CALIFORNIA AGRIBUSINESS CREDIT UNION IS A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS, CREATING A SOURCE OF CREDIT FOR THEM AT RATES OF INTEREST SET BY THE BOARD OF DIRECTORS, AND PROVIDING AN OPPORTUNITY FOR THEM TO USE AND CONTROL THEIR OWN MONEY ON A DEMOCRATIC BASIS IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS. AS A COOPERATIVE, CALIFORNIA AGRIBUSINESS CREDIT UNION CONDUCTS ITS BUSINESS FOR THE MUTUAL BENEFIT AND GENERAL WELFARE OF ITS MEMBERS WITH THE EARNINGS, SAVINGS, BENEFITS, OR SERVICES OF THE CREDIT UNION BEING DISTRIBUTED TO ITS MEMBERS AS PATRONS.

Activities or mission (Part I)

A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS.

  • ACHIEVED SATISFACTORY RESULTS IN PROVIDING MEMBERS WITH CONSUMER LOANS FROM A BROAD ARRAY OF PRODUCT OFFERINGS, INCLUDING VEHICLE LOANS, CREDIT CARDS AND PERSONAL LINES OF CREDIT.

  • ACHIEVED SATISFACTORY RESULTS IN PROVIDING MEMBERS WITH AUTO AND UNSECURED LOANS.

  • ACHIEVED SATISFACTORY RESULTS IN PROVIDING MEMBERS A CARD PLASTIC PROGRAM.

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

Listed in Part VII

  • Daniel J McCarrel

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    1

  • Richard Mullard

    VICE-CHAIRPERSON

    Total calculated
    $0
    Hours/week
    1

  • Jodi Martin

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • James A Taylor

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Yuman Pirzada

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Miguel Cea

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • James M Fleckenstein

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Vinayak Vijaykumar

    SUPERVISORY COMMITTEE MEMB

    Total calculated
    $0
    Hours/week
    1

  • Angel Hernandez

    CEO

    Total calculated
    $114,783
    From this org
    $101,000
    From related orgs
    $0
    Other
    $13,783
    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.

Schedule J

Answered yes

  • 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
21 October 2024
IRS schema version
2023v5.1
Source object
202432979349301828

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