Totals
- Total revenue
- $3,410,331
- Total expenses
- $2,171,165
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $2,944,081
- Investment income
- $458,772
- Other revenue
- $7,478
- Total assets, end of year
- $56,707,277
- Total liabilities, end of year
- $50,681,616
- Net assets or fund balances, end of year
- $6,025,661
- 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 $2,303,588 · related or exempt $2,303,588
-
2b · Program service revenue: INTERCHANGE INCOME
total $286,688 · related or exempt $286,688
-
2c · Program service revenue: FEE INCOME
total $242,409 · related or exempt $236,887 · unrelated business $5,522
-
2d · Program service revenue: OTHER OPERATING INCOME
total $75,954 · related or exempt $75,954
-
2e · Program service revenue: INSURANCE COMMISSIONS
total $35,442 · related or exempt $33,092 · unrelated business $2,350
-
3 · Investment income
total $458,772 · excluded $458,772
-
5 · Royalties
total $7,478 · related or exempt $7,478
Functional expenses
Part IX, the statement of functional expenses.
-
6 · Compensation of disqualified persons
total $323,150
-
7 · Other salaries and wages
total $353,533
-
8 · Pension plan contributions
total $40,289
-
9 · Other employee benefits
total $102,456
-
11b · Fees: legal
total $30,237
-
11c · Fees: accounting
total $19,589
-
11g · Fees: other
total $137,329
-
12 · Advertising and promotion
total $30,914
-
13 · Office expenses
total $111,608
-
14 · Information technology
total $110,276
-
16 · Occupancy
total $105,054
-
19 · Conferences, conventions and meetings
total $14,609
-
20 · Interest
total $641
-
22 · Depreciation, depletion and amortization
total $101,525
-
24a · Other expenses: MEMBER ACCOUNT/CARD COS
total $245,756
-
24b · Other expenses: DIVIDENDS ON SHARES
total $159,458
-
24c · Other expenses: LOAN ORIGINATION AND SE
total $119,676
-
24d · Other expenses: PROVISION FOR BAD DEBT
total $100,488
-
24e · All other expenses
total $64,577
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $576,359 · end of year $700,845
-
2 · Savings and temporary cash investments
beginning of year $11,958,530 · end of year $6,171,238
-
4 · Accounts receivable
end of year $100,800
-
7 · Other notes and loans receivable
beginning of year $42,494,989 · end of year $46,086,312
-
9 · Prepaid expenses and deferred charges
beginning of year $148,197 · end of year $129,354
-
10a · Land, buildings and equipment: cost or other basis
$2,804,665
-
10b · Land, buildings and equipment: accumulated depreciation
$1,440,472
-
10c · Land, buildings and equipment, net
beginning of year $1,330,251 · end of year $1,364,193
-
13 · Investments: program-related
beginning of year $483,668 · end of year $483,306
-
15 · Other assets
beginning of year $1,605,305 · end of year $1,671,229
-
17 · Accounts payable and accrued expenses
beginning of year $367,862 · end of year $491,805
-
25 · Other liabilities
beginning of year $53,442,942 · end of year $50,189,811
-
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 $4,786,495 · end of year $6,025,661
Mission and programs · 2023
Mission
NOT FOR PROFIT FINANCIAL COOPERATIVE THRIFT WHICH PROVIDES FINANCIAL SERVICES TO BENEFIT THE MEMBERSHIP OF THE ORGANIZATION.
-
FOCUS CREDIT UNION GRANTED 821 MEMBER LOANS DURING 2023. AS OF DECEMBER 31, 2023 FCU HAD 125 MORTGAGE LOANS AND LINES OF CREDIT OUTSTANDING, 1,286 CREDIT CARDS OUTSTANDING AND 2,966 CONSUMER LOANS AND LINES OF CREDIT OUTSTANDING.
-
FOCUS CREDIT UNION HAD DEPOSIT, TRANSACTION, AND INVESTMENT ACCOUNTS WITH 6,754 MEMBERS. DURING 2023 FCU OPENED 148 NEW MEMBER ACCOUNTS.
As filed on the 2023 return.
Listed in Part VII
-
John WeberJOHN WEBER
CHAIR
- Total calculated
- $585
- From this org
- $585
- From related orgs
- $0
- Other
- $0
- Hours/week
- 0.5
-
Tracey ParentTRACEY PARENT
VICE CHAIR
- Total calculated
- $450
- From this org
- $450
- From related orgs
- $0
- Other
- $0
- Hours/week
- 0.5
-
Amy RummelAMY RUMMEL
SECRETARY
- Total calculated
- $540
- From this org
- $540
- From related orgs
- $0
- Other
- $0
- Hours/week
- 0.5
-
Kimberly AshwoodKIMBERLY ASHWOOD
BOARD MEMBER
- Total calculated
- $450
- From this org
- $450
- From related orgs
- $0
- Other
- $0
- Hours/week
- 0.5
-
Steven SweeneySTEVEN SWEENEY
TREASURER
- Total calculated
- $405
- From this org
- $405
- From related orgs
- $0
- Other
- $0
- Hours/week
- 0.5
-
Katie IshKATIE ISH
BOARD MEMBER
- Total calculated
- $495
- From this org
- $495
- From related orgs
- $0
- Other
- $0
- Hours/week
- 0.5
-
Ryan CepicanRYAN CEPICAN
BOARD MEMBER
- Total calculated
- $315
- From this org
- $315
- From related orgs
- $0
- Other
- $0
- Hours/week
- 0.5
-
Dean WilsonDEAN WILSON
PRESIDENT/CEO
- Total calculated
- $193,127
- From this org
- $180,861
- From related orgs
- $0
- Other
- $12,266
- Hours/week
- 55
Schedule J breakdown matched by us
- Base
- $180,861
- Bonus
- $0
- Other
- $0
- Deferred
- $12,266
- Nontaxable benefits
- $0
- Filer's total
- $193,127
-
Kimberly YoungbloodKIMBERLY YOUNGBLOOD
SVP/COO
- Total calculated
- $150,762
- From this org
- $139,049
- From related orgs
- $0
- Other
- $11,713
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $139,049
- Bonus
- $0
- Other
- $0
- Deferred
- $11,713
- Nontaxable benefits
- $0
- Filer's total
- $150,762
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
- 3 · Compensation committee
- 3 · Written employment contract
- 3 · Compensation survey or study
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
- 3 July 2024
- IRS schema version
- 2023v5.1
- Source object
- 202401909349301100
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