Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: INTEREST ON LOANS TO M

  total $2,570,705 · related or exempt $2,570,705

• 2b · Program service revenue: OTHER INCOME

  total $703,930 · related or exempt $703,930

• 2c · Program service revenue: FEES AND CHARGES

  total $455,864 · related or exempt $455,864

• 3 · Investment income

  total $987,280 · related or exempt $987,280

• 7a · Gross sales of assets other than inventory

  other assets $65,797

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

  other assets $0

• 7c · Gain or loss

  other assets $65,797

• 7d · Net gain or loss

  total $65,797 · related or exempt $65,797

• 11a · Other revenue: OTHER NON INTEREST INC

  total $134,555 · related or exempt $134,555

• 11b · Other revenue: NON-MEMBER ATM FEES

  total $4,144 · unrelated business $4,144

• 11e · Other revenue, total

  $138,699

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $674,692

• 7 · Other salaries and wages

  total $691,186

• 8 · Pension plan contributions

  total $129,464

• 9 · Other employee benefits

  total $163,596

• 10 · Payroll taxes

  total $109,849

• 11b · Fees: legal

  total $11,089

• 11c · Fees: accounting

  total $40,541

• 11g · Fees: other

  total $8,570

• 12 · Advertising and promotion

  total $62,477

• 13 · Office expenses

  total $699,083

• 16 · Occupancy

  total $93,399

• 17 · Travel

  total $46,883

• 22 · Depreciation, depletion and amortization

  total $124,235

• 24a · Other expenses: INTEREST AND DIVIDENDS

  total $746,891

• 24b · Other expenses: LOAN SERVICING EXPENSES

  total $188,020

• 24c · Other expenses: MISCELLANEOUS OTHER EXP

  total $89,665

• 24d · Other expenses: PROVISION FOR LOAN LOSS

  total $40,738

• 24e · All other expenses

  total $9,188

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,274,952 · end of year $1,061,226

• 2 · Savings and temporary cash investments

  beginning of year $10,011,461 · end of year $9,442,741

• 5 · Loans and receivables from officers and key people

  end of year $1,595,948

• 7 · Other notes and loans receivable

  beginning of year $42,993,395 · end of year $45,169,461

• 9 · Prepaid expenses and deferred charges

  beginning of year $220,535 · end of year $268,841

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

  $2,689,610

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

  $1,326,891

• 10c · Land, buildings and equipment, net

  beginning of year $1,340,156 · end of year $1,362,719

• 12 · Investments: other securities

  beginning of year $42,535,253 · end of year $35,075,713

• 14 · Intangible assets

  beginning of year $15,213 · end of year $8,685

• 15 · Other assets

  beginning of year $5,604,393 · end of year $4,905,065

• 17 · Accounts payable and accrued expenses

  beginning of year $1,563,325 · end of year $3,895,680

• 25 · Other liabilities

  beginning of year $88,934,115 · end of year $80,573,113

• 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 $1,351,917 · end of year $1,351,917

• 31 · Retained earnings, endowment or other funds

  beginning of year $12,146,001 · end of year $13,069,689

The filer's explanations (Part III)

PART I, LINE 4B

RAINY THOEN PARTICIPATES IN THE ORGANIZATION'S 457(F) PLAN, BUT DID NOT RECEIVE ANY PAYOUT DURING 2023.