Skip to content
Nonprofiteer
← LANCASTER RED ROSE CREDIT UNION

Form 990 for tax year 2023

Filed by LANCASTER RED ROSE CREDIT UNION.

Totals

Total revenue
$2,661,218
Total expenses
$1,569,984
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,176,008
Investment income
$1,485,210
Other revenue
$0
Total assets, end of year
$55,116,274
Total liabilities, end of year
$49,734,763
Net assets or fund balances, end of year
$5,381,511
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 - MEMBER LOAN

    total $741,567 · related or exempt $741,567

  • 2b · Program service revenue: OTHER OPERATING INCOME

    total $233,733 · related or exempt $233,733

  • 2c · Program service revenue: FEE INCOME

    total $197,411 · related or exempt $197,411

  • 2d · Program service revenue: NON-MEMBER ATM INCOME

    total $3,297 · unrelated business $3,297

  • 3 · Investment income

    total $1,485,210 · excluded $1,485,210

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $133,101

  • 7 · Other salaries and wages

    total $266,827

  • 8 · Pension plan contributions

    total $3,037

  • 9 · Other employee benefits

    total $17,045

  • 10 · Payroll taxes

    total $30,379

  • 11b · Fees: legal

    total $651

  • 11c · Fees: accounting

    total $30,540

  • 12 · Advertising and promotion

    total $11,733

  • 13 · Office expenses

    total $225,298

  • 14 · Information technology

    total $285,783

  • 16 · Occupancy

    total $18,242

  • 17 · Travel

    total $8

  • 19 · Conferences, conventions and meetings

    total $177

  • 20 · Interest

    total $230,851

  • 22 · Depreciation, depletion and amortization

    total $63,533

  • 23 · Insurance

    total $43,185

  • 24a · Other expenses: LENDING EXPENSE

    total $156,326

  • 24b · Other expenses: MISCELLANEOUS

    total $61,777

  • 24c · Other expenses: STATE EXAMINATION FEE

    total $12,146

  • 24d · Other expenses: DUES

    total $9,736

  • 24e · All other expenses

    total -$30,391

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $445,141 · end of year $417,022

  • 2 · Savings and temporary cash investments

    beginning of year $25,267,021 · end of year $17,080,705

  • 4 · Accounts receivable

    beginning of year $63,936 · end of year $169,134

  • 7 · Other notes and loans receivable

    beginning of year $11,142,005 · end of year $14,058,549

  • 9 · Prepaid expenses and deferred charges

    beginning of year $103,944 · end of year $82,767

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

    $1,618,966

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

    $253,648

  • 10c · Land, buildings and equipment, net

    beginning of year $1,427,525 · end of year $1,365,318

  • 11 · Investments: publicly traded securities

    beginning of year $1,507,162 · end of year $1,200,316

  • 12 · Investments: other securities

    beginning of year $19,131,622 · end of year $20,145,622

  • 15 · Other assets

    beginning of year $676,494 · end of year $596,841

  • 17 · Accounts payable and accrued expenses

    beginning of year $185,245 · end of year $284,460

  • 25 · Other liabilities

    beginning of year $54,514,046 · end of year $49,450,303

  • 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 $5,065,559 · end of year $5,381,511

Mission and programs · 2023

Mission

THE CREDIT UNION IS ORGANIZED AND OPERATED TO PROMOTE THRIFT AMONG ITS MEMBERS AND TO CREATE A SOURCE OF LOW COST CREDIT.

Activities or mission (Part I)

ORGANIZED AND OPERATED TO PROMOTE THRIFT AMONG ITS MEMBERS AND A SOURCE OF LOW COST CREDIT

  • PROVIDE LOANS TO MORE THAN 5,099 MEMBERS.

  • PROVIDE FINANCIAL STATEMENTS TO MORE THAN 5,099 MEMBERS.

As filed on the 2023 return.

Listed in Part VII

  • C Michael Wetzel

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • James T O'Brien

    VICE-CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Ernest Doerschuk III

    SECRETARY & TRESURER

    Total calculated
    $0
    Hours/week
    1

  • Lois M Murse

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kara E Vincent

    CEO

    Total calculated
    $131,345
    From this org
    $104,810
    From related orgs
    $0
    Other
    $26,535
    Hours/week
    45

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
13 November 2024
IRS schema version
2023v5.1
Source object
202413199349308546

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.