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Nonprofiteer
← NORTHERN COMMUNITIES CREDIT UNION

Form 990 for tax year 2022

Filed by NORTHERN COMMUNITIES CREDIT UNION.

Totals

Total revenue
$4,887,350
Total expenses
$4,164,127
Contributions and grants received
$2,350
Grants paid
$6,805
Program service revenue
$4,208,344
Investment income
$632,190
Other revenue
$44,466
Total assets, end of year
$104,832,624
Total liabilities, end of year
$94,686,653
Net assets or fund balances, end of year
$10,145,971
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.

  • 1f · All other contributions, gifts and grants

    $2,350

  • 2a · Program service revenue: INTEREST ON LOANS

    total $2,906,100 · related or exempt $2,906,100

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

    total $904,400 · related or exempt $904,400

  • 2c · Program service revenue: ACCOUNT FEES

    total $389,297 · related or exempt $389,297

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

    total $8,547 · unrelated business $8,547

  • 3 · Investment income

    total $642,449 · excluded $642,449

  • 5 · Royalties

    total $12,244 · excluded $12,244

  • 6a · Gross rents

    real property $32,222

  • 6c · Rental income or loss

    real property $32,222

  • 6d · Net rental income or loss

    total $32,222 · excluded $32,222

  • 7a · Gross sales of assets other than inventory

    other assets $90,000

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

    other assets $100,259

  • 7c · Gain or loss

    other assets -$10,259

  • 7d · Net gain or loss

    total -$10,259 · related or exempt -$10,259

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $6,305

  • 2 · Grants to domestic individuals

    total $500

  • 5 · Compensation of officers, directors and key employees

    total $304,098

  • 7 · Other salaries and wages

    total $1,044,353

  • 8 · Pension plan contributions

    total $89,999

  • 9 · Other employee benefits

    total $211,464

  • 10 · Payroll taxes

    total $102,573

  • 11b · Fees: legal

    total $1,504

  • 11c · Fees: accounting

    total $23,924

  • 11g · Fees: other

    total $108,447

  • 12 · Advertising and promotion

    total $101,489

  • 13 · Office expenses

    total $672,507

  • 14 · Information technology

    total $188,232

  • 16 · Occupancy

    total $244,414

  • 19 · Conferences, conventions and meetings

    total $28,639

  • 20 · Interest

    total $572

  • 22 · Depreciation, depletion and amortization

    total $231,450

  • 23 · Insurance

    total $49,980

  • 24a · Other expenses: LOAN SERVICING

    total $510,408

  • 24b · Other expenses: PROVISION FOR LOAN LOSS

    total $192,613

  • 24c · Other expenses: DIVIDEND EXPENSE

    total $50,656

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $820,823 · end of year $692,804

  • 2 · Savings and temporary cash investments

    beginning of year $34,717,084 · end of year $23,597,250

  • 7 · Other notes and loans receivable

    beginning of year $51,131,556 · end of year $65,586,294

  • 9 · Prepaid expenses and deferred charges

    beginning of year $268,575 · end of year $632,817

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

    $4,280,634

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

    $2,620,476

  • 10c · Land, buildings and equipment, net

    beginning of year $1,778,945 · end of year $1,660,158

  • 13 · Investments: program-related

    beginning of year $10,388,380 · end of year $9,877,680

  • 15 · Other assets

    beginning of year $2,715,995 · end of year $2,785,621

  • 17 · Accounts payable and accrued expenses

    beginning of year $628,292 · end of year $1,578,235

  • 21 · Escrow or custodial account liability

    beginning of year $22,597 · end of year $15,508

  • 25 · Other liabilities

    beginning of year $91,747,721 · end of year $93,092,910

  • 31 · Retained earnings, endowment or other funds

    beginning of year $9,422,748 · end of year $10,145,971

Mission and programs · 2022

Mission

TO PROMOTE MEMBER SUCCESS BY MEETING THEIR CHANGING FINANCIAL NEEDS.

  • THE CREDIT UNION HAS VARIOUS TYPES OF DEPOSIT ACCOUNTS AVAILABLE FOR OUR MEMBERS. WE OPENED 884 NEW DEPOSIT ACCOUNTS IN 2022. AS OF 12/31/22 WE HAD 6,234 MEMBERS.

  • THE CREDIT UNION HAS SEVERAL TYPES OF LOAN PROGRAMS AVAILABLE FOR OUR MEMBERS. WE FUNDED 60,068 NEW LOANS DURING 2022. AS OF 12/31/22 WE HAD 86,658 LOANS RECEIVABLE.

  • .

As filed on the 2022 return.

Listed in Part VII

  • Trina Hoff

    PRESIDENT/CE

    Total calculated
    $207,058
    From this org
    $145,327
    From related orgs
    $0
    Other
    $61,731
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $135,059
    Bonus
    $10,250
    Other
    $18
    Deferred
    $35,924
    Nontaxable benefits
    $25,807
    Filer's total
    $207,058

  • Anita Chandler

    VP ADMINISTR

    Total calculated
    $100,154
    From this org
    $85,725
    From related orgs
    $0
    Other
    $14,429
    Hours/week
    40

  • Sharon Lundquist

    VP LENDING

    Total calculated
    $90,623
    From this org
    $70,705
    From related orgs
    $0
    Other
    $19,918
    Hours/week
    40

  • George Walters

    DIRECTOR

    Total calculated
    $443
    From this org
    $377
    From related orgs
    $0
    Other
    $66
    Hours/week
    0.5

  • Dirk Davis

    DIRECTOR

    Total calculated
    $437
    From this org
    $371
    From related orgs
    $0
    Other
    $66
    Hours/week
    0.5

  • Karen Erickson

    CHAIR

    Total calculated
    $367
    From this org
    $301
    From related orgs
    $0
    Other
    $66
    Hours/week
    0.5

  • John Lindquist

    DIRECTOR

    Total calculated
    $340
    From this org
    $274
    From related orgs
    $0
    Other
    $66
    Hours/week
    0.5

  • James Kroll

    DIRECTOR

    Total calculated
    $287
    From this org
    $221
    From related orgs
    $0
    Other
    $66
    Hours/week
    0.5

  • Charles Schumacher

    DIRECTOR

    Total calculated
    $281
    From this org
    $215
    From related orgs
    $0
    Other
    $66
    Hours/week
    0.5

  • Ruth Hemming

    SECRETARY

    Total calculated
    $275
    From this org
    $209
    From related orgs
    $0
    Other
    $66
    Hours/week
    0.5

  • Robert McCubbin

    DIRECTOR

    Total calculated
    $265
    From this org
    $199
    From related orgs
    $0
    Other
    $66
    Hours/week
    0.5

  • Shawn Herhusky

    VICE CHAIR

    Total calculated
    $240
    From this org
    $174
    From related orgs
    $0
    Other
    $66
    Hours/week
    0.5

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 · Compensation committee
  • 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)

SCHEDULE J, PAGE 1, PART I, LINE 4
TRINA HOFF 0 27,436 0
SCHEDULE J, PART III
THE PRESIDENT PARTICIPATES IN A 457(F) PLAN. THE AMOUNT SHOWN ABOVE IS THE CONTRIBUTION FOR THIS YEAR.

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
2022
Filed
27 October 2023
IRS schema version
2022v5.0
Source object
202343109349303669

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