Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: INCOME ON LOANS

  total $62,164,334 · related or exempt $62,026,394 · unrelated business $137,940

• 2b · Program service revenue: FEES/CHARGES/OTHER INCOME

  total $19,137,323 · related or exempt $19,087,549 · unrelated business $49,774

• 3 · Investment income

  total $11,812,883 · excluded $11,812,883

• 7a · Gross sales of assets other than inventory

  securities $2,382,777 · other assets $8,847,917

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

  securities $3,222,047 · other assets $10,181,167

• 7c · Gain or loss

  securities -$839,270 · other assets -$1,333,250

• 7d · Net gain or loss

  total -$2,172,520 · excluded -$2,172,520

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $81,581

• 4 · Benefits paid to or for members

  total $32,396,201

• 5 · Compensation of officers, directors and key employees

  total $2,058,930

• 7 · Other salaries and wages

  total $12,105,389

• 8 · Pension plan contributions

  total $349,073

• 9 · Other employee benefits

  total $1,592,160

• 10 · Payroll taxes

  total $1,023,640

• 11b · Fees: legal

  total $223,567

• 11c · Fees: accounting

  total $404,127

• 11g · Fees: other

  total $5,628,899

• 12 · Advertising and promotion

  total $499,099

• 13 · Office expenses

  total $1,249,531

• 14 · Information technology

  total $1,823,582

• 16 · Occupancy

  total $2,490,591

• 17 · Travel

  total $50,267

• 19 · Conferences, conventions and meetings

  total $12,700

• 20 · Interest

  total $10,245,195

• 22 · Depreciation, depletion and amortization

  total $4,069,761

• 24a · Other expenses: PROVISION FOR LOAN LOSS

  total $9,060,101

• 24b · Other expenses: LOAN SERVICING EXPENSE

  total $4,363,072

• 24c · Other expenses: DEBIT & CREDIT EXPENSES

  total $1,302,042

• 24d · Other expenses: ATM EXPENSES

  total $583,178

• 24e · All other expenses

  total $1,342,012

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $9,166,212 · end of year $9,895,247

• 2 · Savings and temporary cash investments

  beginning of year $86,364,939 · end of year $83,587,715

• 4 · Accounts receivable

  beginning of year $750 · end of year $117,915

• 5 · Loans and receivables from officers and key people

  beginning of year $17,831,807 · end of year $18,723,397

• 7 · Other notes and loans receivable

  beginning of year $1,214,170,128 · end of year $1,220,563,564

• 9 · Prepaid expenses and deferred charges

  beginning of year $5,138,910 · end of year $3,104,125

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

  $88,366,221

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

  $22,323,263

• 10c · Land, buildings and equipment, net

  beginning of year $67,506,516 · end of year $66,042,958

• 11 · Investments: publicly traded securities

  beginning of year $124,198,442 · end of year $114,858,021

• 12 · Investments: other securities

  beginning of year $37,196,560 · end of year $35,263,844

• 14 · Intangible assets

  beginning of year $6,296,753 · end of year $6,086,213

• 15 · Other assets

  beginning of year $55,326,454 · end of year $60,700,171

• 17 · Accounts payable and accrued expenses

  beginning of year $11,624,937 · end of year $7,793,865

• 21 · Escrow or custodial account liability

  beginning of year $9,777,306 · end of year $10,087,246

• 23 · Secured mortgages and notes payable

  beginning of year $217,573,179 · end of year $159,197,425

• 25 · Other liabilities

  beginning of year $1,285,527,201 · end of year $1,343,662,965

• 29 · Capital stock, trust principal or current funds

  beginning of year $98,694,848 · end of year $98,201,669

• 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 $0 · end of year $0

The filer's explanations (Part III)

PART I, LINE 1A

IN TAX YEAR 2024, COLLINS COMMUNITY CREDIT UNION PROVIDED BOTH TAX INDEMNIFICATION AND GROSS-UP PAYMENTS AND HEALTH OR SOCIAL CLUB DUES TO BENJAMIN WICKUM, CHAD KELLOGG, JEFFREY HINES, MICK FLETCHER, ANDREA MCVAY, AND RANDY JOHNSON. BOTH OF THESE BENEFITS ARE INCLUDED IN THEIR PART VII AND SCHEDULE J REPORTABLE COMPENSATION.

PART I, LINE 4B

NON-QUALIFIED RETIREMENT PLAN DESCRIPTION: THE FOLLOWING EXECUTIVES PARTICIPATED IN A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN (SERP) SPONSORED BY COLLINS COMMUNITY CREDIT UNION. THERE WERE NO CONTRIBUTIONS TO OR DISTRIBUTIONS FROM THE SERP PLAN. THE DEFINED BENEFIT ACCRUAL AMOUNTS SHOWN BELOW ARE INCLUDED ON FORM 990, PART VII AND SCHEDULE J, PART II: MICHAEL FLETCHER - $85,174 DEFINED BENEFIT ACCRUAL JEFFREY HINES - $75,000 DEFINED BENEFIT ACCRUAL RANDY JOHNSON - $66,667 DEFINED BENEFIT ACCRUAL CHAD KELLOGG - $50,000 DEFINED BENEFIT ACCRUAL

Disregarded entities

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

• 1150 PROPERTIES LLC

  INACTIVE · IA · income $0 · assets $0

  Directly controlled by COLLINS COMMUNITY CREDIT UNION

• COLLINS HOLDING COMPANY CUSO LLC

  HOLDING COMPANY · IA · income $11,781 · assets $23,575,296

  Directly controlled by COLLINS COMMUNITY CREDIT UNION

• COLLINS LOAN SERVICES LLC

  COMMERCIAL LOANS · IA · income $3,435,439 · assets $63,728,446

  Directly controlled by COLLINS HOLDING COMPANY

• COURSEMARK LLC

  EXECUTIVE BENEFITS · IA · income $421,118 · assets $549,826

  Directly controlled by COLLINS HOLDING COMPANY

• COLLINS INSURANCE SERVICES

  INSURANCE SERVICES · IA · income $754,817 · assets $6,187,003

  Directly controlled by COLLINS HOLDING COMPANY

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

• NORTHTOWNE MARKET LOT 7 LLC

  RELATED · PROPERTY MANAGEMENT · IA · 75% owned · share of income $1,651,864 · share of assets $15,634,497

  Directly controlled by COLLINS HOLDING COMPANY CUSO LLC