Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: MEMBER LOAN INTEREST

  total $85,992,805 · related or exempt $85,992,805

• 2b · Program service revenue: DEBIT/CREDIT/ATM INTERCHANGE

  total $22,986,387 · related or exempt $22,986,387

• 2c · Program service revenue: MEMBER FEES & CHARGES

  total $14,241,986 · related or exempt $14,241,986

• 3 · Investment income

  total $4,232,610 · excluded $4,232,610

• 5 · Royalties

  total $261,230 · excluded $261,230

• 6a · Gross rents

  real property $467,777

• 6b · Less rental expenses

  real property $217,500

• 6c · Rental income or loss

  real property $250,277

• 6d · Net rental income or loss

  total $250,277 · excluded $250,277

• 7a · Gross sales of assets other than inventory

  securities $74,000

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

  securities $764,275

• 7c · Gain or loss

  securities -$690,275

• 7d · Net gain or loss

  total -$690,275 · excluded -$690,275

• 10a · Gross sales of inventory

  $229

• 10b · Cost of goods sold

  $0

• 10c · Net income from sales of inventory

  total $229 · unrelated business $229

• 11a · Other revenue: NON-MEMBER ATM FEES

  total $260,469 · unrelated business $260,469

• 11b · Other revenue: MBP SALES TO MEMBERS

  total $133,929 · unrelated business $133,929

• 11c · Other revenue: MEMBER INSURANCE SALES

  total $349 · unrelated business $349

• 11e · Other revenue, total

  $394,747

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $854,194

• 5 · Compensation of officers, directors and key employees

  total $8,880,846

• 7 · Other salaries and wages

  total $23,385,627

• 8 · Pension plan contributions

  total $3,697,261

• 9 · Other employee benefits

  total $4,812,843

• 10 · Payroll taxes

  total $2,625,929

• 11b · Fees: legal

  total $83,435

• 11c · Fees: accounting

  total $147,557

• 11g · Fees: other

  total $2,594,445

• 12 · Advertising and promotion

  total $1,083,272

• 13 · Office expenses

  total $4,615,244

• 14 · Information technology

  total $6,040,946

• 16 · Occupancy

  total $1,441,845

• 17 · Travel

  total $359,835

• 19 · Conferences, conventions and meetings

  total $310,454

• 20 · Interest

  total $7,397,528

• 22 · Depreciation, depletion and amortization

  total $3,872,583

• 23 · Insurance

  total $377,195

• 24a · Other expenses: LOAN ORIGINATION COSTS

  total $9,261,299

• 24b · Other expenses: DEBIT CARD & ATM COSTS

  total $8,183,561

• 24c · Other expenses: PROVISION FOR LOAN LOSS

  total $6,301,659

• 24d · Other expenses: CREDIT & COLLECTION EXP

  total $4,763,141

• 24e · All other expenses

  total $6,684,917

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $22,520,846 · end of year $20,204,718

• 2 · Savings and temporary cash investments

  beginning of year $311,381,614 · end of year $197,453,892

• 4 · Accounts receivable

  beginning of year $6,822,967 · end of year $11,446,525

• 7 · Other notes and loans receivable

  beginning of year $1,725,300,535 · end of year $1,933,542,747

• 9 · Prepaid expenses and deferred charges

  beginning of year $21,029,238 · end of year $22,299,796

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

  $110,761,305

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

  $46,585,832

• 10c · Land, buildings and equipment, net

  beginning of year $67,037,058 · end of year $64,175,473

• 11 · Investments: publicly traded securities

  beginning of year $49,936,331 · end of year $0

• 13 · Investments: program-related

  beginning of year $8,519,011 · end of year $11,210,166

• 15 · Other assets

  beginning of year $43,074,636 · end of year $75,079,236

• 17 · Accounts payable and accrued expenses

  beginning of year $33,751,065 · end of year $39,405,184

• 23 · Secured mortgages and notes payable

  beginning of year $25,000,000 · end of year $70,000,000

• 25 · Other liabilities

  beginning of year $2,033,031,038 · end of year $2,027,861,421

• 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 $163,840,133 · end of year $198,145,948

The filer's explanations (Part III)

PART I, LINE 1A

PURSUANT TO HAPO'S POLICIES, FIRST-CLASS TRAVEL IS PROVIDED FOR SPOUSES OR SIGNIFICANT OTHERS OF DIRECTORS AND EXECUTIVE MANAGEMENT WHILE ON CREDIT UNION RELATED TRAVEL. SPOUSAL TRAVEL IS TAXED TO THE EMPLOYEE.

PART I, LINE 1B

PAYMENT FOR ANY AND ALL REIMBURSABLE EXPENSES MUST HAVE SUFFICIENT SUPPORTING DOCUMENTATION OR EXPLANATION.

PART I, LINE 3

SR VP/CEO: $562,500 457(F) PAYOUT. SR VP/CDO: $562,500 457(F) PAYOUT. SR VP/CFO: $562,500 457(F) PAYOUT. SR VP/COO: $562,500 457(F) PAYOUT. SR VP/CRO: $562,500 457(F) PAYOUT. FORMER CFO: $74,992 457(F) PAYOUT.

PART I, LINE 4B

THE FOLLOWING EMPLOYEES ARE PARTICIPANTS IN A SPLIT DOLLAR LIFE INSURANCE PLAN: SCOTT MITCHELL, DOLORES BROESKE, JESSICA GAUDREAULT AND RUBY CAMPOS.