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Nonprofiteer
← AUSTIN CITY EMPLOYEES CREDIT UNION

Form 990 for tax year 2023

Filed by AUSTIN CITY EMPLOYEES CREDIT UNION.

Totals

Total revenue
$538,697
Total expenses
$380,209
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$409,294
Investment income
$128,319
Other revenue
$1,084
Total assets, end of year
$11,081,724
Total liabilities, end of year
$9,370,118
Net assets or fund balances, end of year
$1,711,606
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.

  • 2a · Program service revenue: INTEREST ON LOANS

    total $353,077 · related or exempt $353,077

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

    total $40,078 · related or exempt $40,078

  • 2c · Program service revenue: MEMBER FEE INCOME

    total $16,139 · related or exempt $16,139

  • 3 · Investment income

    total $128,319 · excluded $128,319

  • 5 · Royalties

    total $1,084 · excluded $1,084

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $77,993

  • 7 · Other salaries and wages

    total $57,265

  • 8 · Pension plan contributions

    total $11,794

  • 9 · Other employee benefits

    total $4,231

  • 10 · Payroll taxes

    total $10,459

  • 11b · Fees: legal

    total $90

  • 11c · Fees: accounting

    total $7,792

  • 11g · Fees: other

    total $2,729

  • 12 · Advertising and promotion

    total $442

  • 13 · Office expenses

    total $103,690

  • 14 · Information technology

    total $27,256

  • 16 · Occupancy

    total $18,598

  • 17 · Travel

    total $973

  • 22 · Depreciation, depletion and amortization

    total $15,055

  • 23 · Insurance

    total $11,606

  • 24a · Other expenses: DIVIDENDS EXPENSE

    total $33,331

  • 24b · Other expenses: PROVISION LOAN LOSS ADJST

    total -$3,095

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $20,000 · end of year $20,000

  • 2 · Savings and temporary cash investments

    beginning of year $3,838,570 · end of year $2,952,677

  • 7 · Other notes and loans receivable

    beginning of year $5,926,817 · end of year $6,479,105

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,545 · end of year $5,228

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

    $412,244

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

    $228,851

  • 10c · Land, buildings and equipment, net

    beginning of year $198,448 · end of year $183,393

  • 13 · Investments: program-related

    beginning of year $1,305,000 · end of year $1,305,000

  • 15 · Other assets

    beginning of year $129,737 · end of year $136,321

  • 17 · Accounts payable and accrued expenses

    beginning of year $54,570 · end of year $75,354

  • 25 · Other liabilities

    beginning of year $9,809,581 · end of year $9,294,764

  • 31 · Retained earnings, endowment or other funds

    beginning of year $1,558,966 · end of year $1,711,606

Mission and programs · 2023

Mission

ACECU PROVIDES FINANCIAL SERVICES TO OUR MEMBERS THROUGH SAVINGS PRODUCTS, BY PROVIDING LOANS, AND WITH OTHER FINANCIAL SERVICES.

  • THE CREDIT UNION HAS VARIOUS TYPES OF DEPOSIT ACCOUNTS AVAILABLE FOR OUR MEMBERS. WE OPENED 108 NEW DEPOSIT ACCOUNTS IN 2023. AS OF 12/31/23 WE HAD 798 MEMBERS.

  • THE CREDIT UNION HAS SEVERAL TYPES OF LOAN PROGRAMS AVAILABLE FOR OUR MEMBERS. WE FUNDED 123 NEW LOANS TO OUR MEMBERS DURING 2023. AS OF 12/31/2023 WE HAD 545 LOANS TO OUR MEMBERS.

As filed on the 2023 return.

Listed in Part VII

  • MARILYN HANSEN

    PRESIDENT

    Total calculated
    $68,086
    From this org
    $61,896
    From related orgs
    $0
    Other
    $6,190
    Hours/week
    40

  • ANN CHRISTIANSON

    TREASURER

    Total calculated
    $15,037
    From this org
    $15,037
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • KELLY LADY

    SECRETARY

    Total calculated
    $440
    From this org
    $440
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.5

  • MELISSA SWENSON

    CHAIR

    Total calculated
    $240
    From this org
    $240
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.5

  • JEAN CLARK

    VICE CHAIR

    Total calculated
    $200
    From this org
    $200
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.5

  • TRICIA WEICHMAN

    DIRECTOR

    Total calculated
    $180
    From this org
    $180
    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
2023
Filed
6 March 2024
IRS schema version
2023v4.0
Source object
202400679349300625

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