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Nonprofiteer
← NORTH STAR COMMUNITY CREDIT UNION

Form 990 for tax year 2023

Filed by NORTH STAR COMMUNITY CREDIT UNION.

Totals

Total revenue
$24,575,620
Total expenses
$22,720,859
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$20,231,165
Investment income
$1,771,492
Other revenue
$2,572,963
Total assets, end of year
$488,015,644
Total liabilities, end of year
$438,280,044
Net assets or fund balances, end of year
$49,735,600
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: INCOME FROM LOANS

    total $20,231,165 · related or exempt $20,231,165

  • 3 · Investment income

    total $1,771,492 · excluded $1,771,492

  • 11a · Other revenue: FEES & CHARGES

    total $1,739,123 · related or exempt $1,645,491 · unrelated business $93,632

  • 11b · Other revenue: MISCELLANEOUS OPERATING INCOME

    total $833,840 · related or exempt $833,840

  • 11e · Other revenue, total

    $2,572,963

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $1,547,297

  • 7 · Other salaries and wages

    total $5,134,786

  • 9 · Other employee benefits

    total $1,402,433

  • 10 · Payroll taxes

    total $467,374

  • 11b · Fees: legal

    total $94,053

  • 11f · Fees: investment management

    total $14,258

  • 11g · Fees: other

    total $1,340,689

  • 12 · Advertising and promotion

    total $477,712

  • 13 · Office expenses

    total $971,714

  • 16 · Occupancy

    total $422,560

  • 17 · Travel

    total $132,563

  • 19 · Conferences, conventions and meetings

    total $50,665

  • 20 · Interest

    total $8,140,432

  • 21 · Payments to affiliates

    total $78,819

  • 22 · Depreciation, depletion and amortization

    total $728,734

  • 24a · Other expenses: PROVISION FOR LOAN LOSS

    total $750,000

  • 24b · Other expenses: LOAN SERVICE

    total $639,071

  • 24c · Other expenses: EXAM FEES

    total $205,881

  • 24d · Other expenses: MISCELLANEOUS

    total $73,184

  • 24e · All other expenses

    total $48,634

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $7,721,188 · end of year $6,945,167

  • 2 · Savings and temporary cash investments

    beginning of year $3,769,093 · end of year $34,697,996

  • 4 · Accounts receivable

    beginning of year $1,386 · end of year $1,344

  • 5 · Loans and receivables from officers and key people

    beginning of year $3,785,867 · end of year $3,785,867

  • 7 · Other notes and loans receivable

    beginning of year $318,911,608 · end of year $351,268,854

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,569,275 · end of year $2,713,717

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

    $16,608,313

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

    $5,609,638

  • 10c · Land, buildings and equipment, net

    beginning of year $11,012,705 · end of year $10,998,675

  • 13 · Investments: program-related

    beginning of year $74,081,560 · end of year $61,988,427

  • 14 · Intangible assets

    beginning of year $2,872,224 · end of year $2,776,594

  • 15 · Other assets

    beginning of year $16,985,462 · end of year $12,839,003

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,134,204 · end of year $2,754,308

  • 23 · Secured mortgages and notes payable

    beginning of year $29,500,000 · end of year $61,300,000

  • 25 · Other liabilities

    beginning of year $362,600,107 · end of year $374,225,736

  • 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 $46,476,057 · end of year $49,735,600

Mission and programs · 2023

Mission

NON-PROFIT ORGANIZATION PROVIDING FINANCIAL SERVICES TO A FIELD OF MEMBERSHIP.

  • NON-PROFIT ORGANIZATION PROVIDING FINANCIAL SERVICES TO A FIELD OF MEMBERSHIP.

As filed on the 2023 return.

Listed in Part VII

  • Kevin Gigstad

    BOARD SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Michael Black

    BOARD CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Kenneth Klebe

    BOARD VICE CHAIRPERSON

    Total calculated
    $0
    Hours/week
    1

  • Michael Foster

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Chuck Emery

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • John Riley

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Tammy Meyer

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Bob Herrington

    CEO/PRESIDENT

    Total calculated
    $515,433
    From this org
    $474,817
    From related orgs
    $0
    Other
    $40,616
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $357,210
    Bonus
    $104,257
    Other
    $13,350
    Deferred
    $14,850
    Nontaxable benefits
    $25,766
    Filer's total
    $515,433

  • Alex Kalliokoski

    CFO

    Total calculated
    $160,795
    From this org
    $144,442
    From related orgs
    $0
    Other
    $16,353
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $125,500
    Bonus
    $18,942
    Other
    $0
    Deferred
    $6,500
    Nontaxable benefits
    $9,853
    Filer's total
    $160,795

  • Dean Aanderud

    CLO

    Total calculated
    $202,289
    From this org
    $179,256
    From related orgs
    $0
    Other
    $23,033
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $154,481
    Bonus
    $24,775
    Other
    $0
    Deferred
    $8,067
    Nontaxable benefits
    $14,966
    Filer's total
    $202,289

  • Joann Bergrud

    COO

    Total calculated
    $163,201
    From this org
    $146,661
    From related orgs
    $0
    Other
    $16,540
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $126,553
    Bonus
    $20,108
    Other
    $0
    Deferred
    $6,600
    Nontaxable benefits
    $9,940
    Filer's total
    $163,201

  • Steve Nannicelli

    CHIEF EXPERIENCE OFFICER

    Total calculated
    $194,452
    From this org
    $171,757
    From related orgs
    $0
    Other
    $22,695
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $147,420
    Bonus
    $24,337
    Other
    $0
    Deferred
    $7,729
    Nontaxable benefits
    $14,966
    Filer's total
    $194,452

  • Yvonne Fossen

    HR MANAGER

    Total calculated
    $157,842
    From this org
    $136,724
    From related orgs
    $0
    Other
    $21,118
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $123,098
    Bonus
    $13,626
    Other
    $0
    Deferred
    $6,152
    Nontaxable benefits
    $14,966
    Filer's total
    $157,842

  • Chad Peterson

    VP OF REGIONAL EXPERIENCE

    Total calculated
    $153,285
    From this org
    $132,363
    From related orgs
    $0
    Other
    $20,922
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $119,214
    Bonus
    $13,149
    Other
    $0
    Deferred
    $5,956
    Nontaxable benefits
    $14,966
    Filer's total
    $153,285

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

  • 3 · Approval by the board or compensation committee

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • NORTH STAR SERVICES LLC

    INSURANCE SERVICES · ND · assets $3,104

    Directly controlled by NORTH STAR COMMUNITY CREDIT UNION

Provenance

Return type
form_990
Tax year
2023
Filed
6 November 2024
IRS schema version
2023v5.1
Source object
202423119349302882

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