Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: LOAN INTEREST

  total $12,776,275 · related or exempt $12,776,275

• 2b · Program service revenue: OTHER INCOME

  total $2,720,787 · related or exempt $2,705,291 · unrelated business $15,496

• 2c · Program service revenue: FEE INCOME

  total $2,240,686 · related or exempt $2,240,686

• 3 · Investment income

  total $470,541 · excluded $470,541

• 7a · Gross sales of assets other than inventory

  securities $745,567 · other assets $2,500

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

  securities $747,000 · other assets $2,200

• 7c · Gain or loss

  securities -$1,433 · other assets $300

• 7d · Net gain or loss

  total -$1,133 · excluded -$1,133

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $260,508

• 4 · Benefits paid to or for members

  total $966,687

• 5 · Compensation of officers, directors and key employees

  total $1,377,099

• 7 · Other salaries and wages

  total $3,953,810

• 8 · Pension plan contributions

  total $221,363

• 9 · Other employee benefits

  total $604,791

• 10 · Payroll taxes

  total $369,943

• 11a · Fees: management

  total $23,141

• 11b · Fees: legal

  total $178,104

• 11c · Fees: accounting

  total $150,165

• 11g · Fees: other

  total $1,034,881

• 12 · Advertising and promotion

  total $254,067

• 13 · Office expenses

  total $1,153,662

• 16 · Occupancy

  total $497,157

• 17 · Travel

  total $212,248

• 20 · Interest

  total $189,182

• 22 · Depreciation, depletion and amortization

  total $396,479

• 23 · Insurance

  total $660

• 24a · Other expenses: LOAN SERVICING

  total $1,703,746

• 24b · Other expenses: PROVISION FOR LOAN LOSS

  total $1,004,523

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

  total $497,650

• 24d · Other expenses: OPERATING FEES

  total $23,547

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $2,313,441 · end of year $2,426,106

• 2 · Savings and temporary cash investments

  beginning of year $48,840,282 · end of year $32,342,138

• 4 · Accounts receivable

  beginning of year $316,264 · end of year $595,282

• 7 · Other notes and loans receivable

  beginning of year $207,134,794 · end of year $244,906,534

• 9 · Prepaid expenses and deferred charges

  beginning of year $802,702 · end of year $1,056,977

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

  $19,745,231

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

  $6,829,409

• 10c · Land, buildings and equipment, net

  beginning of year $7,050,645 · end of year $12,915,822

• 12 · Investments: other securities

  end of year $1,167,800

• 13 · Investments: program-related

  beginning of year $1,307,132 · end of year $4,996,891

• 15 · Other assets

  beginning of year $7,005,284 · end of year $5,519,954

• 17 · Accounts payable and accrued expenses

  beginning of year $3,546,297 · end of year $3,666,287

• 23 · Secured mortgages and notes payable

  end of year $15,000,000

• 25 · Other liabilities

  beginning of year $245,933,250 · end of year $257,609,079

• 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 $25,290,997 · end of year $29,652,138

The filer's explanations (Part III)

PART I, LINE 1A

THE COMPANION RECEIVES REIMBURSEMENT FOR FLIGHTS AND PER DIEM FOR TRAVEL.

PART I, LINE 1B

THE COMPANION RECEIVES A 1099-MISC FORM FOR PROVIDED BENEFITS ABOVE.

PART I, LINE 3

THE HR DEPARTMENT REVIEWS INDUSTRY SURVEYS AND STUDIES AND PROVIDES A SUMMARY REPORT TO THE BOARD ABOUT INDUSTRY SALARY NORMS FOR CEOS OF CREDIT UNIONS SIMILAR IN SIZE TO BLUCURRENT. THE BOARD USES THAT INFORMATION TO DETERMINE THE SALARY FOR THE CEO.