Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: LOAN INTEREST

  total $18,879,190 · related or exempt $18,879,190

• 2b · Program service revenue: OTHER INCOME

  total $2,404,991 · related or exempt $2,394,003 · unrelated business $10,988

• 2c · Program service revenue: FEE INCOME

  total $2,183,368 · related or exempt $2,176,377 · unrelated business $6,991

• 3 · Investment income

  total $1,856,561 · excluded $1,856,561

• 7a · Gross sales of assets other than inventory

  other assets $147,777

• 7b · Less cost or other basis and sales expenses

  other assets $49,129

• 7c · Gain or loss

  other assets $98,648

• 7d · Net gain or loss

  total $98,648 · related or exempt $98,648

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $254,875

• 4 · Benefits paid to or for members

  total $5,402,053

• 5 · Compensation of officers, directors and key employees

  total $1,755,517

• 6 · Compensation of disqualified persons

  total $4,184,289

• 8 · Pension plan contributions

  total $217,564

• 9 · Other employee benefits

  total $613,342

• 10 · Payroll taxes

  total $402,110

• 11a · Fees: management

  total $9,257

• 11b · Fees: legal

  total $97,893

• 11c · Fees: accounting

  total $121,147

• 11g · Fees: other

  total $1,333,440

• 12 · Advertising and promotion

  total $566,477

• 13 · Office expenses

  total $1,518,149

• 16 · Occupancy

  total $642,987

• 17 · Travel

  total $136,448

• 20 · Interest

  total $652,061

• 22 · Depreciation, depletion and amortization

  total $707,413

• 23 · Insurance

  total $3,618

• 24a · Other expenses: PROVISION FOR CREDIT LO

  total $2,046,432

• 24b · Other expenses: LOAN SERVICING

  total $1,947,223

• 24c · Other expenses: OTHER NON-INTEREST EXPE

  total $501,643

• 24d · Other expenses: OPERATING FEES

  total $32,821

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,991,498 · end of year $3,308,169

• 2 · Savings and temporary cash investments

  beginning of year $37,091,817 · end of year $40,477,133

• 4 · Accounts receivable

  beginning of year $651,614 · end of year $857,768

• 7 · Other notes and loans receivable

  beginning of year $251,918,033 · end of year $275,666,910

• 9 · Prepaid expenses and deferred charges

  beginning of year $993,918 · end of year $991,104

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

  $24,049,292

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

  $6,001,649

• 10c · Land, buildings and equipment, net

  beginning of year $19,102,838 · end of year $18,047,643

• 12 · Investments: other securities

  beginning of year $1,246,800 · end of year $1,439,400

• 13 · Investments: program-related

  beginning of year $3,423,266 · end of year $952,600

• 15 · Other assets

  beginning of year $4,520,866 · end of year $10,030,143

• 17 · Accounts payable and accrued expenses

  beginning of year $4,868,276 · end of year $3,770,412

• 23 · Secured mortgages and notes payable

  beginning of year $15,000,000 · end of year $15,000,000

• 25 · Other liabilities

  beginning of year $268,144,565 · end of year $295,617,525

• 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 $32,927,809 · end of year $37,382,933

The filer's explanations (Part III)

PART I, LINE 1A

PAID TRAVEL TO AND FROM EDUCATIONAL CONFERENCES FOR BOARD AND SPOUSE.

PART I, LINE 1B

COMPANIONS ARE ISSUED A 1099 MISC FOR TRAVEL RELATED EXPENSES.

PART I, LINE 3

WE USE SALARY SURVEYS REVIEWED WITH THE COMPENSATION COMMITTEE AND DISCUSS INFLATION AND OTHER FACTORS. THE COMMITTEE PROVIDES A SUGGESTED RANGE AND PRESENTS TO THE ENTIRE BOARD FOR APPROVAL.