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Nonprofiteer
← HARVESTER FINANCIAL CREDIT

Form 990 for tax year 2022

Filed by HARVESTER FINANCIAL CREDIT.

Totals

Total revenue
$3,244,833
Total expenses
$2,910,935
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$2,439,965
Investment income
$681,245
Other revenue
$123,623
Total assets, end of year
$73,179,806
Total liabilities, end of year
$66,953,914
Net assets or fund balances, end of year
$6,225,892
Program services expenses (Part IX)
$2,910,935
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$2,910,935

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

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 ON LOANS

    total $1,584,889 · related or exempt $1,584,889

  • 2b · Program service revenue: INTERCHANGE AND OTHER

    total $637,056 · related or exempt $637,056

  • 2c · Program service revenue: FEES AND CHARGES

    total $218,020 · related or exempt $218,020

  • 3 · Investment income

    total $681,245 · excluded $681,245

  • 11a · Other revenue: OTHER

    total $118,091 · excluded $118,091

  • 11b · Other revenue: PATRONAGE

    total $5,532 · excluded $5,532

  • 11e · Other revenue, total

    $123,623

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $921,123 · program services $921,123

  • 8 · Pension plan contributions

    total $45,590 · program services $45,590

  • 9 · Other employee benefits

    total $201,059 · program services $201,059

  • 10 · Payroll taxes

    total $75,621 · program services $75,621

  • 11g · Fees: other

    total $180,089 · program services $180,089

  • 12 · Advertising and promotion

    total $83,868 · program services $83,868

  • 16 · Occupancy

    total $80,744 · program services $80,744

  • 19 · Conferences, conventions and meetings

    total $27,734 · program services $27,734

  • 20 · Interest

    total $127,390 · program services $127,390

  • 22 · Depreciation, depletion and amortization

    total $111,269 · program services $111,269

  • 23 · Insurance

    total $25,273 · program services $25,273

  • 24a · Other expenses: SHARE EXPENSES

    total $323,252 · program services $323,252

  • 24b · Other expenses: LOAN SERVICING

    total $302,081 · program services $302,081

  • 24c · Other expenses: OPERATION EXPENSES

    total $168,581 · program services $168,581

  • 24d · Other expenses: EQUIPMENT EXPENSES

    total $93,044 · program services $93,044

  • 24e · All other expenses

    total $144,217 · program services $144,217

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $795,986 · end of year $707,597

  • 2 · Savings and temporary cash investments

    beginning of year $7,071,881 · end of year $960,300

  • 4 · Accounts receivable

    end of year $416

  • 7 · Other notes and loans receivable

    beginning of year $32,119,457 · end of year $35,836,863

  • 9 · Prepaid expenses and deferred charges

    beginning of year $195,260 · end of year $188,278

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

    $3,299,574

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

    $1,783,948

  • 10c · Land, buildings and equipment, net

    beginning of year $1,609,868 · end of year $1,515,626

  • 12 · Investments: other securities

    beginning of year $28,105,793 · end of year $30,913,575

  • 15 · Other assets

    beginning of year $2,928,505 · end of year $3,057,151

  • 17 · Accounts payable and accrued expenses

    beginning of year $200,961 · end of year $172,592

  • 25 · Other liabilities

    beginning of year $66,733,795 · end of year $66,781,322

  • 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 $2,998,066 · end of year $3,152,909

  • 31 · Retained earnings, endowment or other funds

    beginning of year $2,893,928 · end of year $3,072,983

Mission and programs · 2022

Mission

COOPERATIVE FINANCIAL INSTITUTION PROVIDING SAVINGS AND LOAN PRODUCTS TO MEMBERS

  • LOAN AND SHARE PRODUCTS TO APPROXIMATELY 6,000 MEMBERS

    Expenses $2,910,935

As filed on the 2022 return.

Listed in Part VII

  • JERRY WALTERS

    CHAIRMAN

    Total calculated
    $325
    From this org
    $0
    From related orgs
    $0
    Other
    $325
    Hours/week
    1

  • DEIDRA DUNAGIN

    VICE CHAIR

    Total calculated
    $350
    From this org
    $0
    From related orgs
    $0
    Other
    $350
    Hours/week
    1

  • AL HAIRSTON

    SECRETARY

    Total calculated
    $350
    From this org
    $0
    From related orgs
    $0
    Other
    $350
    Hours/week
    1

  • TERESA COLLIER

    DIRECTOR

    Total calculated
    $425
    From this org
    $0
    From related orgs
    $0
    Other
    $425
    Hours/week
    1

  • ROD CANNON

    TREASURER

    Total calculated
    $350
    From this org
    $0
    From related orgs
    $0
    Other
    $350
    Hours/week
    1

  • STEVE BENNETT

    DIRECTOR

    Total calculated
    $400
    From this org
    $0
    From related orgs
    $0
    Other
    $400
    Hours/week
    1

  • MIKE METCALF

    DIRECTOR

    Total calculated
    $375
    From this org
    $0
    From related orgs
    $0
    Other
    $375
    Hours/week
    1

  • JASON FORD

    PRESIDENT & CEO

    Total calculated
    $116,334
    From this org
    $116,334
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • ELIZABETH OLSON

    COO

    Total calculated
    $60,926
    From this org
    $60,926
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

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
2022
Filed
10 May 2023
IRS schema version
2022v5.0
Source object
202322579349301717

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