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Nonprofiteer
← WISCONSIN MEDICAL CREDIT UNION

Form 990 for tax year 2023

Filed by WISCONSIN MEDICAL CREDIT UNION.

Totals

Total revenue
$754,416
Total expenses
$682,053
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$662,801
Investment income
$89,796
Other revenue
$1,819
Total assets, end of year
$14,452,138
Total liabilities, end of year
$12,918,488
Net assets or fund balances, end of year
$1,533,650
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% 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 $513,378 · related or exempt $513,378

  • 2b · Program service revenue: OTHER MEMBER RELATED REVENUE

    total $91,161 · related or exempt $91,161

  • 2c · Program service revenue: MEMBER FEE INCOME

    total $56,199 · related or exempt $56,199

  • 2d · Program service revenue: FEES & INSURANCE REVENUE

    total $2,063 · unrelated business $2,063

  • 3 · Investment income

    total $89,796 · excluded $89,796

  • 5 · Royalties

    total $1,819 · excluded $1,819

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $73,238

  • 7 · Other salaries and wages

    total $132,579

  • 8 · Pension plan contributions

    total $8,261

  • 9 · Other employee benefits

    total $11,824

  • 10 · Payroll taxes

    total $15,319

  • 11c · Fees: accounting

    total $4,755

  • 12 · Advertising and promotion

    total $11,295

  • 13 · Office expenses

    total $146,359

  • 14 · Information technology

    total $90,223

  • 16 · Occupancy

    total $34,095

  • 19 · Conferences, conventions and meetings

    total $4,606

  • 22 · Depreciation, depletion and amortization

    total $28,812

  • 23 · Insurance

    total $10,433

  • 24a · Other expenses: DIVIDENDS EXPENSE

    total $71,325

  • 24b · Other expenses: CREDIT LOSS EXPENSE

    total $37,679

  • 24c · Other expenses: GRANT EXPENDITURES

    total $1,250

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $110,539 · end of year $120,202

  • 2 · Savings and temporary cash investments

    beginning of year $1,252,624 · end of year $2,427,574

  • 4 · Accounts receivable

    beginning of year $26,963 · end of year $9,555

  • 7 · Other notes and loans receivable

    beginning of year $10,513,649 · end of year $10,124,374

  • 9 · Prepaid expenses and deferred charges

    beginning of year $30,981 · end of year $17,607

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

    $964,796

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

    $210,820

  • 10c · Land, buildings and equipment, net

    beginning of year $783,009 · end of year $753,976

  • 13 · Investments: program-related

    beginning of year $1,606,386 · end of year $858,438

  • 15 · Other assets

    beginning of year $134,286 · end of year $140,412

  • 17 · Accounts payable and accrued expenses

    beginning of year $24,685 · end of year $39,825

  • 25 · Other liabilities

    beginning of year $12,932,706 · end of year $12,878,663

  • 31 · Retained earnings, endowment or other funds

    beginning of year $1,501,046 · end of year $1,533,650

Mission and programs · 2023

Mission

WISCONSIN MEDICAL CU IS A NOT FOR PROFIT, MEMBER OWNED ORGANIZATION DEDICATED TO MEET THE MEMBERS NEEDS BY PROVIDING SOUND FINANCIAL SERVICES INCLUDING COMPETITIVE RATES, INFORMATION AND SERVICES WHILE MAINTAINING FINANCIAL STABILITY OF THE CREDIT UNION.

  • THE CREDIT UNION HAS VARIOUS TYPES OF DEPOSIT ACCOUNTS AVAILABLE FOR OUR MEMBERS. WE OPENED 61 NEW DEPOSIT ACCOUNTS IN 2023. AS OF 12/31/23 WE HAD 1,306 MEMBERS.

  • THE CREDIT UNION HAS SEVERAL TYPES OF LOAN PROGRAMS AVAILABLE FOR OUR MEMBERS. WE FUNDED 208 NEW LOANS DURING 2023. AS OF 12/31/23 WE HAD 1,553 LOANS RECEIVABLE.

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Mary Groh

    PRESIDENT

    Total calculated
    $81,003
    From this org
    $73,238
    From related orgs
    $0
    Other
    $7,765
    Hours/week
    50

  • Kurt Minten

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Marlene Schmidt

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Melissa Hermes

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Carol Lemirand

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Tammy Danz

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Lucas Furger

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Scott Furger

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

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
8 April 2024
IRS schema version
2023v5.0
Source object
202411109349301611

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