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← DEPARTMENT OF FINANCIAL INSTITUTION DIVISION OF CREDIT UNIONS IN IND

Form 990 for tax year 2024

Filed by DEPARTMENT OF FINANCIAL INSTITUTION DIVISION OF CREDIT UNIONS IN IND.

Totals

Total revenue
$1,131,866
Total expenses
$1,257,378
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$604,602
Investment income
$447,889
Other revenue
$79,375
Total assets, end of year
$45,677,728
Total liabilities, end of year
$2,861,627
Net assets or fund balances, end of year
$42,816,101
Program services expenses (Part IX)
$0
Management and general expenses
$1,257,378
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.

  • 2a · Program service revenue: INT ON MEMBERS LOANS

    total $604,602 · related or exempt $604,602

  • 3 · Investment income

    total $447,889 · related or exempt $447,889

  • 11a · Other revenue: FEES

    total $79,375 · related or exempt $79,375

  • 11e · Other revenue, total

    $79,375

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $332,956 · management and general $332,956

  • 7 · Other salaries and wages

    total $130,159 · management and general $130,159

  • 8 · Pension plan contributions

    total $76,290 · management and general $76,290

  • 9 · Other employee benefits

    total $93,779 · management and general $93,779

  • 10 · Payroll taxes

    total $34,182 · management and general $34,182

  • 11b · Fees: legal

    total $23,158 · management and general $23,158

  • 11c · Fees: accounting

    total $45,885 · management and general $45,885

  • 12 · Advertising and promotion

    total $4,543 · management and general $4,543

  • 13 · Office expenses

    total $151,936 · management and general $151,936

  • 14 · Information technology

    total $68,877 · management and general $68,877

  • 19 · Conferences, conventions and meetings

    total $14,886 · management and general $14,886

  • 20 · Interest

    total $138,881 · management and general $138,881

  • 23 · Insurance

    total $21,473 · management and general $21,473

  • 24a · Other expenses: DIV ON MEMBERS ACCOUNTS

    total $98,159 · management and general $98,159

  • 24b · Other expenses: TRADE UCC DUES

    total $23,465 · management and general $23,465

  • 24c · Other expenses: FRANCHISE TAX

    total -$1,251 · management and general -$1,251

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $215,930 · end of year $419,346

  • 2 · Savings and temporary cash investments

    beginning of year $589,329 · end of year $628,383

  • 7 · Other notes and loans receivable

    beginning of year $11,045,990 · end of year $10,583,985

  • 9 · Prepaid expenses and deferred charges

    beginning of year $35,113 · end of year $29,851

  • 12 · Investments: other securities

    beginning of year $38,193,368 · end of year $33,000,977

  • 15 · Other assets

    beginning of year $1,093,310 · end of year $1,015,186

  • 17 · Accounts payable and accrued expenses

    beginning of year -$67,046 · end of year $11,627

  • 24 · Unsecured notes and loans payable

    beginning of year $2,850,000 · end of year $2,850,000

  • 29 · Capital stock, trust principal or current funds

    beginning of year $37,338,449 · end of year $32,091,401

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $1,030,231 · end of year $1,065,000

  • 31 · Retained earnings, endowment or other funds

    beginning of year $10,021,406 · end of year $9,659,700

Mission and programs · 2024

Mission

COOPERATIVE FINANCIAL INSTITUTION TO GOVMNT EMPLOYEES AND THEIR FAMILIES.

  • LOANS TO MEMBERS 10,819,917

  • SHARES OF MEMBERS 32,091,401

As filed on the 2024 return.

Listed in Part VII

  • LISA M TUCKER

    PRESIDENT/CE

    Total calculated
    $171,893
    From this org
    $171,893
    From related orgs
    $0
    Other
    $0
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $171,893
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $171,893

  • OLLIE BROWN

    VICE CHAIRMA

    Total calculated
    $0

  • DAVID W SHERFIELD

    SUPRVISORY C

    Total calculated
    $0

  • RHONDA F POSLEY

    SECRETARY

    Total calculated
    $0

  • MARK D SCHOFILED

    SUPERVISORY

    Total calculated
    $0

  • ROBIN BANKHEAD

    BOARD CHAIRM

    Total calculated
    $0

  • REGGIE MARSHALL

    CHAIR CR COM

    Total calculated
    $0

  • BARBARA J SIMMERMAN

    CR COMM

    Total calculated
    $0

  • TAMRA K ABPLANALP

    CR COMM

    Total calculated
    $72,177
    From this org
    $72,177
    From related orgs
    $0
    Other
    $0
    Hours/week
    42

  • PAUL TOMS

    TRUSTEE/DIRE

    Total calculated
    $0

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

None.

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
2024
Filed
14 April 2025
IRS schema version
2024v5.0
Source object
202521159349301957

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