Form 990 for tax year 2022
Filed by 0022 HOMELAND CREDIT UNION INC.
Totals
- Total revenue
- $16,065,435
- Total expenses
- $13,376,904
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $10,945,122
- Investment income
- $5,120,313
- Other revenue
- $0
- Total assets, end of year
- $513,400,298
- Total liabilities, end of year
- $468,276,139
- Net assets or fund balances, end of year
- $45,124,159
- 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 $8,106,582 · related or exempt $8,106,582
-
2b · Program service revenue: OTHER INCOME
total $1,111,169 · related or exempt $1,026,843 · unrelated business $84,326
-
2c · Program service revenue: LENDING-RELATED INCOME
total $941,331 · related or exempt $941,331
-
2d · Program service revenue: FEES & COMMISSIONS
total $786,040 · related or exempt $786,040
-
3 · Investment income
total $5,120,097 · related or exempt $5,120,097
-
7a · Gross sales of assets other than inventory
securities $2,346,990
-
7b · Less cost or other basis and sales expenses
securities $2,346,774
-
7c · Gain or loss
securities $216
-
7d · Net gain or loss
total $216 · related or exempt $216
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $968,815
-
7 · Other salaries and wages
total $3,744,072
-
8 · Pension plan contributions
total $675,571
-
10 · Payroll taxes
total $308,475
-
11b · Fees: legal
total $268
-
11c · Fees: accounting
total $103,176
-
11d · Fees: lobbying
total $97,326
-
12 · Advertising and promotion
total $290,403
-
13 · Office expenses
total $2,183,580
-
14 · Information technology
total $905,767
-
16 · Occupancy
total $392,556
-
17 · Travel
total $40,868
-
20 · Interest
total $2,686,791
-
22 · Depreciation, depletion and amortization
total $257,671
-
23 · Insurance
total $77,583
-
24a · Other expenses: PROVISION FOR LOAN LOSS
total $393,201
-
24b · Other expenses: MISC. OPERATING EXPENSE
total $250,343
-
24c · Other expenses: PROFESSIONAL FEES
total $438
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $3,223,249 · end of year $3,201,469
-
2 · Savings and temporary cash investments
beginning of year $63,207,816 · end of year $35,363,774
-
7 · Other notes and loans receivable
beginning of year $161,911,641 · end of year $170,874,275
-
10a · Land, buildings and equipment: cost or other basis
$10,319,406
-
10b · Land, buildings and equipment: accumulated depreciation
$7,975,773
-
10c · Land, buildings and equipment, net
beginning of year $2,448,015 · end of year $2,343,633
-
11 · Investments: publicly traded securities
beginning of year $279,514,811 · end of year $268,506,645
-
12 · Investments: other securities
beginning of year $27,195,170 · end of year $24,560,031
-
15 · Other assets
beginning of year $7,269,899 · end of year $8,550,471
-
17 · Accounts payable and accrued expenses
beginning of year $2,684,379 · end of year $2,134,926
-
25 · Other liabilities
beginning of year $462,228,644 · end of year $466,141,213
-
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 $79,857,578 · end of year $45,124,159
Mission and programs · 2022
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 2022 return.
Listed in Part VII
-
Dana WidmayerDANA WIDMAYER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Dennis MillerDENNIS MILLER
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 1
-
Brad PurdumBRAD PURDUM
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Donald ThompsonDONALD THOMPSON
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Frederick Fairrow IIFREDERICK FAIRROW II
2ND VICE CHAIRMAN
- Total calculated
- $0
- Hours/week
- 1
-
Beth FowlerBETH FOWLER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Mathew CosenzaMATHEW COSENZA
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Philip ButchersPHILIP BUTCHERS
1ST VICE CHAIRMAN
- Total calculated
- $0
- Hours/week
- 1
-
Judith AbernathyJUDITH ABERNATHY
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Shayne PoeSHAYNE POE
CEO
- Total calculated
- $290,338
- From this org
- $290,338
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $243,724
- Bonus
- $2,100
- Other
- $44,514
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $290,338
-
John P OwensJOHN P OWENS
VP OF LENDING & SALES
- Total calculated
- $7,993
- From this org
- $7,993
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Heather R IrwinHEATHER R IRWIN
VP MEMBER SERVICES
- Total calculated
- $152,943
- From this org
- $152,943
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $150,793
- Bonus
- $2,150
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $152,943
-
Todd J McDonaldTODD J MCDONALD
CFO
- Total calculated
- $176,524
- From this org
- $176,524
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $175,724
- Bonus
- $800
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $176,524
-
Kelly HopperKELLY HOPPER
DIRECTOR
- Total calculated
- $105,403
- From this org
- $105,403
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Sondra ButlerSONDRA BUTLER
DIRECTOR
- Total calculated
- $119,219
- From this org
- $119,219
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
James H Matthews JrJAMES H MATTHEWS JR
VP IT
- Total calculated
- $114,395
- From this org
- $114,395
- 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
- 2022
- Filed
- 1 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202303109349302075
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