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Nonprofiteer
← METROPOLITAN DISTRICT EMPLOYEES CREDIT UNION INC

Form 990 for tax year 2023

Filed by METROPOLITAN DISTRICT EMPLOYEES CREDIT UNION INC.

Totals

Total revenue
$1,144,783
Total expenses
$1,100,834
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$914,823
Investment income
$229,960
Other revenue
$0
Total assets, end of year
$32,131,533
Total liabilities, end of year
$28,637,655
Net assets or fund balances, end of year
$3,493,878
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 INCOME ON LOA

    total $777,983 · related or exempt $777,983

  • 2b · Program service revenue: MISC FEES, NSF, ETC

    total $76,291 · related or exempt $72,709 · unrelated business $3,582

  • 2c · Program service revenue: CHARGE FEES

    total $60,549 · related or exempt $60,549

  • 3 · Investment income

    total $229,960 · excluded $229,960

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $141,216

  • 7 · Other salaries and wages

    total $195,402

  • 9 · Other employee benefits

    total $45,595

  • 10 · Payroll taxes

    total $27,207

  • 11b · Fees: legal

    total $4,800

  • 11c · Fees: accounting

    total $8,400

  • 11g · Fees: other

    total $19,228

  • 12 · Advertising and promotion

    total $13,088

  • 13 · Office expenses

    total $209,676

  • 16 · Occupancy

    total $398

  • 17 · Travel

    total $12,000

  • 20 · Interest

    total $263,261

  • 21 · Payments to affiliates

    total $14,000

  • 22 · Depreciation, depletion and amortization

    total $29,933

  • 24a · Other expenses: ATM EXPENSES

    total $87,810

  • 24b · Other expenses: PROCESSING FEES

    total $28,820

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $368,729 · end of year $209,205

  • 7 · Other notes and loans receivable

    beginning of year $16,457,360 · end of year $17,645,446

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

    $1,394,460

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

    $316,835

  • 10c · Land, buildings and equipment, net

    beginning of year $1,100,224 · end of year $1,077,625

  • 12 · Investments: other securities

    beginning of year $11,826,941 · end of year $11,982,584

  • 14 · Intangible assets

    beginning of year $78,467 · end of year $101,893

  • 15 · Other assets

    beginning of year $1,096,485 · end of year $1,114,780

  • 17 · Accounts payable and accrued expenses

    beginning of year $110,424 · end of year $102,772

  • 25 · Other liabilities

    beginning of year $27,207,853 · end of year $28,534,883

  • 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 $3,609,929 · end of year $3,493,878

Mission and programs · 2023

Mission

WE PROVIDE FINANCIAL SERVICES FOR OUR MEMBERS

Activities or mission (Part I)

PROVIDES FINANCIAL SERVICES TO MEMBER OWNERS

  • ORGANIZATION AND MAINTENANCE OF MEMBERS' DEPOSIT ACCOUNTS

As filed on the 2023 return.

Listed in Part VII

  • Karen Viets

    CEO/TREASURER

    Total calculated
    $141,116
    From this org
    $135,253
    From related orgs
    $0
    Other
    $5,863
    Hours/week
    40

  • Robert Facey Jr

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    0.5

  • Trevor Parris

    VICE CHAIRPERSON

    Total calculated
    $0
    Hours/week
    0.5

  • James Masse

    SECRETARY

    Total calculated
    $0
    Hours/week
    1.5

  • Douglas Woods Sr

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • Sebastian Fraello

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • James Day

    BOARD MEMBER

    Total calculated
    $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
11 November 2024
IRS schema version
2023v5.1
Source object
202423189349303917

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