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Nonprofiteer
← PARK SIDE FINANCIAL CREDIT UNION

Form 990 for tax year 2024

Filed by PARK SIDE FINANCIAL CREDIT UNION.

Totals

Total revenue
$21,188,914
Total expenses
$21,174,063
Contributions and grants received
$0
Grants paid
$66,834
Program service revenue
$19,930,686
Investment income
$1,210,685
Other revenue
$47,543
Total assets, end of year
$377,195,754
Total liabilities, end of year
$347,629,309
Net assets or fund balances, end of year
$29,566,445
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 ON LOANS

    total $15,114,067 · related or exempt $15,114,067

  • 2b · Program service revenue: FEES AND CHARGES

    total $4,816,619 · related or exempt $4,687,129 · unrelated business $129,490

  • 3 · Investment income

    total $1,200,349 · excluded $1,200,349

  • 6a · Gross rents

    real property $47,543

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $47,543

  • 6d · Net rental income or loss

    total $47,543 · excluded $47,543

  • 7a · Gross sales of assets other than inventory

    securities $15,841,141

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

    securities $15,830,805

  • 7c · Gain or loss

    securities $10,336

  • 7d · Net gain or loss

    total $10,336 · excluded $10,336

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $66,834

  • 5 · Compensation of officers, directors and key employees

    total $872,695

  • 7 · Other salaries and wages

    total $4,994,237

  • 8 · Pension plan contributions

    total $316,060

  • 9 · Other employee benefits

    total $706,466

  • 10 · Payroll taxes

    total $424,341

  • 11b · Fees: legal

    total $10,614

  • 11c · Fees: accounting

    total $140,887

  • 11g · Fees: other

    total $1,574,068

  • 12 · Advertising and promotion

    total $561,720

  • 13 · Office expenses

    total $960,654

  • 16 · Occupancy

    total $449,840

  • 19 · Conferences, conventions and meetings

    total $95,373

  • 20 · Interest

    total $853,269

  • 22 · Depreciation, depletion and amortization

    total $526,479

  • 23 · Insurance

    total $110,825

  • 24a · Other expenses: DIVIDENDS ON MEMBER SHA

    total $5,543,824

  • 24b · Other expenses: CREDIT CARD & TRANSACTI

    total $1,399,804

  • 24c · Other expenses: ATM EXPENSE

    total $916,617

  • 24d · Other expenses: PROVISION FOR LOAN LOSS

    total $238,848

  • 24e · All other expenses

    total $410,608

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $7,695,087 · end of year $7,813,042

  • 2 · Savings and temporary cash investments

    beginning of year $5,874,068 · end of year $19,721,476

  • 4 · Accounts receivable

    beginning of year $960,131 · end of year $935,430

  • 5 · Loans and receivables from officers and key people

    beginning of year $2,873,265 · end of year $2,923,547

  • 7 · Other notes and loans receivable

    beginning of year $314,276,567 · end of year $281,692,624

  • 9 · Prepaid expenses and deferred charges

    beginning of year $777,072 · end of year $901,624

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

    $17,700,045

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

    $6,583,688

  • 10c · Land, buildings and equipment, net

    beginning of year $11,836,031 · end of year $11,116,357

  • 11 · Investments: publicly traded securities

    beginning of year $32,760,303 · end of year $28,418,393

  • 12 · Investments: other securities

    beginning of year $12,855,032 · end of year $11,935,884

  • 15 · Other assets

    beginning of year $7,866,895 · end of year $11,737,377

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,381,065 · end of year $1,429,529

  • 23 · Secured mortgages and notes payable

    beginning of year $22,000,000 · end of year $3,000,000

  • 24 · Unsecured notes and loans payable

    beginning of year $3,000,000 · end of year $3,000,000

  • 25 · Other liabilities

    beginning of year $342,127,434 · end of year $340,199,780

  • 29 · Capital stock, trust principal or current funds

    beginning of year $4,396,347 · end of year $4,396,347

  • 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 $24,869,605 · end of year $25,170,098

Mission and programs · 2024

Mission

WE WILL BE THE BEST PLACE FOR THE PEOPLE OF WESTERN MONTANA TO GET A LOAN.

Activities or mission (Part I)

PARK SIDE IS A NOT FOR PROFIT FINANCIAL COOPERATIVE THAT PROVIDES FINANCIAL SERVICES TO ITS MEMBERS.

  • PARK SIDE FINANCIAL CREDIT UNION IS A MEMBER-OWNED CO-OPERATIVE OFFERING A DIVERSE VARIETY OF FINANCIAL SERVICES TO ITS MEMBERS. ITS PRIMARY FINANCIAL SERVICES ARE PROVIDING REAL ESTATE LOANS, CONSUMER LOANS, CHECKING ACCOUNTS, SAVINGS ACCOUNTS, AND TIME DEPOSITS TO ITS MEMBERS.AT DECEMBER 31, 2024 PARK SIDE FINANCIAL CREDIT UNION HAS 975 REAL ESTATE LOANS WITH A VALUE OF $160,842,239.AT DECEMBER 31, 2024 PARK SIDE FINANCIAL CREDIT UNION HAS 11,371 CONSUMER LOANS WITH A VALUE OF $121,774,243.AT DECEMBER 31, 2024 PARK SIDE FINANCIAL CREDIT UNION HAS 18,069 CHECKING ACCOUNTS WITH A VALUE OF $73,451,356. AT DECEMBER 31, 2024 PARK SIDE FINANCIAL CREDIT UNION HAS 34,396 SAVINGS ACCOUNTS WITH A VALUE OF $146,299,227. AT DECEMBER 31, 2024 PARK SIDE FINANCIAL CREDIT UNION HAS 2,866 TIME DEPOSIT ACCOUNTS WITH A VALUE OF $119,883,490.

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Carl Thomas

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Rick Flink

    VICE CHAIR (THRU 8/24)

    Total calculated
    $0
    Hours/week
    1

  • Scott Roberts

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Dave Sutherland

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Terry Thorpe

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ron Jarosch

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Diana Lamers

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Rich Pederson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Daria Perez

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mitch Lucas

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jeremy Presta

    CEO

    Total calculated
    $318,490
    From this org
    $284,153
    From related orgs
    $0
    Other
    $34,337
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $280,181
    Bonus
    $755
    Other
    $3,217
    Deferred
    $16,827
    Nontaxable benefits
    $17,510
    Filer's total
    $318,490

  • Troy Brackey

    CFO

    Total calculated
    $308,685
    From this org
    $284,220
    From related orgs
    $0
    Other
    $24,465
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $283,452
    Bonus
    $768
    Other
    $0
    Deferred
    $14,137
    Nontaxable benefits
    $10,328
    Filer's total
    $308,685

  • Maureen Bryan

    SENIOR VP OF HR

    Total calculated
    $245,520
    From this org
    $226,209
    From related orgs
    $0
    Other
    $19,311
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $225,462
    Bonus
    $747
    Other
    $0
    Deferred
    $7,475
    Nontaxable benefits
    $11,836
    Filer's total
    $245,520

  • Carol Beniger

    VP OF LENDING

    Total calculated
    $163,807
    From this org
    $137,597
    From related orgs
    $0
    Other
    $26,210
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $128,761
    Bonus
    $8,836
    Other
    $0
    Deferred
    $10,166
    Nontaxable benefits
    $16,044
    Filer's total
    $163,807

  • Josh Kroll

    VP OF MARKETING

    Total calculated
    $156,260
    From this org
    $130,407
    From related orgs
    $0
    Other
    $25,853
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $121,571
    Bonus
    $8,836
    Other
    $0
    Deferred
    $9,470
    Nontaxable benefits
    $16,383
    Filer's total
    $156,260

  • Laura Scoville

    VP OF BACK OFFICE OPERATIONS

    Total calculated
    $154,830
    From this org
    $132,273
    From related orgs
    $0
    Other
    $22,557
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $123,437
    Bonus
    $8,836
    Other
    $0
    Deferred
    $9,876
    Nontaxable benefits
    $12,681
    Filer's total
    $154,830

  • Teresa Short

    VP OF IT

    Total calculated
    $145,730
    From this org
    $130,653
    From related orgs
    $0
    Other
    $15,077
    Hours/week
    40

  • Alisa McConkey

    VP OF OPERATIONS

    Total calculated
    $153,673
    From this org
    $125,966
    From related orgs
    $0
    Other
    $27,707
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $117,100
    Bonus
    $8,866
    Other
    $0
    Deferred
    $9,302
    Nontaxable benefits
    $18,405
    Filer's total
    $153,673

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 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 4B
JEREMY PRESTA PARTICIPATES IN A SPLIT DOLLAR LIFE INSURANCE AGREEMENT WITH THE ORGANIZATION. JEREMY DID NOT RECEIVE ANY DISTRIBUTIONS FROM THIS PLAN DURING 2024.

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.

Provenance

Return type
form_990
Tax year
2024
Filed
16 July 2025
IRS schema version
2024v5.2
Source object
202501989349300140

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