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Nonprofiteer
← FORT COMMUNITY CREDIT UNION

Form 990 for tax year 2023

Filed by FORT COMMUNITY CREDIT UNION.

Totals

Total revenue
$17,157,637
Total expenses
$14,826,272
Contributions and grants received
$11,488
Grants paid
$7,727
Program service revenue
$14,522,749
Investment income
$2,565,155
Other revenue
$58,245
Total assets, end of year
$361,857,773
Total liabilities, end of year
$321,140,833
Net assets or fund balances, end of year
$40,716,940
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.

  • 1f · All other contributions, gifts and grants

    $11,488

  • 2a · Program service revenue: INTEREST ON LOANS

    total $11,454,392 · related or exempt $11,454,392

  • 2b · Program service revenue: INTERCHANGE DEBIT CARD INCOME

    total $1,550,737 · related or exempt $1,550,737

  • 2c · Program service revenue: FEE INCOME

    total $1,218,888 · related or exempt $1,218,888

  • 2d · Program service revenue: INSURANCE SALES

    total $248,265 · related or exempt $228,065 · unrelated business $20,200

  • 2e · Program service revenue: NONMEMBER ATM FEES

    total $50,467 · unrelated business $50,467

  • 3 · Investment income

    total $2,419,818 · excluded $2,419,818

  • 6a · Gross rents

    real property $98,737

  • 6b · Less rental expenses

    real property $40,492

  • 6c · Rental income or loss

    real property $58,245

  • 6d · Net rental income or loss

    total $58,245 · excluded $58,245

  • 7a · Gross sales of assets other than inventory

    securities $146,487

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

    securities $0 · other assets $1,150

  • 7c · Gain or loss

    securities $146,487 · other assets -$1,150

  • 7d · Net gain or loss

    total $145,337 · excluded $145,337

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $7,727

  • 5 · Compensation of officers, directors and key employees

    total $861,455

  • 7 · Other salaries and wages

    total $3,426,805

  • 8 · Pension plan contributions

    total $238,546

  • 9 · Other employee benefits

    total $313,418

  • 10 · Payroll taxes

    total $251,198

  • 11b · Fees: legal

    total $6,085

  • 11c · Fees: accounting

    total $33,053

  • 11g · Fees: other

    total $1,000,403

  • 12 · Advertising and promotion

    total $414,291

  • 13 · Office expenses

    total $362,338

  • 14 · Information technology

    total $1,156,261

  • 16 · Occupancy

    total $301,283

  • 17 · Travel

    total $35,835

  • 19 · Conferences, conventions and meetings

    total $1,013

  • 20 · Interest

    total $1,048,130

  • 22 · Depreciation, depletion and amortization

    total $760,839

  • 24a · Other expenses: DIVIDENDS ON MEMBER SHA

    total $2,757,609

  • 24b · Other expenses: LOAN & CLOSING COSTS

    total $610,985

  • 24c · Other expenses: BAD DEBT EXPENSE

    total $534,995

  • 24d · Other expenses: CREDIT CARD FEES

    total $492,122

  • 24e · All other expenses

    total $211,881

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,530,859 · end of year $529,625

  • 2 · Savings and temporary cash investments

    beginning of year $15,678,995 · end of year $27,644,318

  • 4 · Accounts receivable

    beginning of year $937,029 · end of year $1,123,658

  • 5 · Loans and receivables from officers and key people

    beginning of year $1,193,758 · end of year $1,206,342

  • 7 · Other notes and loans receivable

    beginning of year $220,514,352 · end of year $238,146,343

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,376,995 · end of year $1,834,170

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

    $14,627,734

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

    $5,601,392

  • 10c · Land, buildings and equipment, net

    beginning of year $9,738,049 · end of year $9,026,342

  • 11 · Investments: publicly traded securities

    beginning of year $74,505,451 · end of year $64,015,198

  • 12 · Investments: other securities

    beginning of year $10,275,734 · end of year $8,042,931

  • 15 · Other assets

    beginning of year $10,096,178 · end of year $10,288,846

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,324,215 · end of year $4,389,937

  • 21 · Escrow or custodial account liability

    beginning of year $140,571 · end of year $189,007

  • 23 · Secured mortgages and notes payable

    beginning of year $15,500,000 · end of year $24,000,000

  • 25 · Other liabilities

    beginning of year $290,011,240 · end of year $292,561,889

  • 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 $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $36,871,374 · end of year $40,716,940

Mission and programs · 2023

Mission

TO HELP EVERY MEMBER BE IN A BETTER FINANCIAL POSITION THAN WHEN WE MET THEM.

Activities or mission (Part I)

THE PURPOSES OF THIS CREDIT UNION ARE: TO ENCOURAGE THRIFT AMONG ITS MEMBERS; TO CREATE A SOURCE OF CREDIT AT A FAIR AND REASONABLE COST; TO PROVIDE AN OPPORTUNITY FOR EACH OF ITS MEMBERS TO IMPROVE THE MEMBER'S RESPECTIVE ECONOMIC AND SOCIAL CONDITIONS; AND TO PERFORM THE FUNCTIONS AND EXERCISE THE POWERS DESIGNATED FOR CREDIT UNIONS UNDER APPLICABLE LAW.

  • WE FUNDED 4,450 LOANS DURING 2023. AS OF 12/31/2023 WE HAD $115,068,970 MORTGAGES/HOME EQUITY LINES, $104,308,678 CONSUMER LOANS, $15,894,362 MEMBER BUSINESS LOANS, AND $5,632,664 CREDIT CARD ACCOUNTS WITH OUR MEMBERS.

  • WE HAVE DEPOSIT, TRANSACTION, AND INVESTMENT ACCOUNTS WITH 22,034 MEMBERS AT 12/31/2023. DURING 2023, OUR DEPOSITS INCREASED BY $2,598,242.

As filed on the 2023 return.

Listed in Part VII

  • Dianne Butt

    CHAIR (THRU DECEMBER)

    Total calculated
    $2,400
    From this org
    $2,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Ernest Witzke

    VICE-CHAIR

    Total calculated
    $1,900
    From this org
    $1,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Phillip Ristow

    TREASURER

    Total calculated
    $2,100
    From this org
    $2,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Craig Nevermann

    DIRECTOR

    Total calculated
    $1,200
    From this org
    $1,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Margaret Bare

    DIRECTOR

    Total calculated
    $1,300
    From this org
    $1,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Rosalinda Martinez

    DIRECTOR

    Total calculated
    $1,400
    From this org
    $1,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Collin W Stevens

    DIRECTOR

    Total calculated
    $1,300
    From this org
    $1,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Susan Johnson

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $327,915
    From this org
    $284,003
    From related orgs
    $0
    Other
    $43,912
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $254,747
    Bonus
    $29,256
    Other
    $0
    Deferred
    $19,715
    Nontaxable benefits
    $24,197
    Filer's total
    $327,915

  • Meghan Bernath

    CHIEF OPERATING OFFICER

    Total calculated
    $131,820
    From this org
    $106,166
    From related orgs
    $0
    Other
    $25,654
    Hours/week
    40

  • Jeffrey Scheuerell

    CHIEF EXPERIENCE OFFICER

    Total calculated
    $104,214
    From this org
    $96,847
    From related orgs
    $0
    Other
    $7,367
    Hours/week
    40

  • Joshuah Kline

    CHIEF FINANCIAL OFFICER

    Total calculated
    $143,583
    From this org
    $108,791
    From related orgs
    $0
    Other
    $34,792
    Hours/week
    40

  • Kevin Paynter

    CHIEF LENDING OFFICER

    Total calculated
    $142,324
    From this org
    $103,921
    From related orgs
    $0
    Other
    $38,403
    Hours/week
    40

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 · 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
THE CHIEF EXECUTIVE OFFICER PARTICIPATES IN A 457(F) PLAN. THERE HAVE BEEN NO CONTRIBUTIONS TO THIS PLAN BY FORT COMMUNITY CREDIT UNION SINCE 2013.

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
2023
Filed
23 September 2024
IRS schema version
2023v5.1
Source object
202402689349301535

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