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Nonprofiteer
← BADGER GLOBE CREDIT UNION

Form 990 for tax year 2023

Filed by BADGER GLOBE CREDIT UNION.

Totals

Total revenue
$2,232,111
Total expenses
$2,202,899
Contributions and grants received
$15,000
Grants paid
$7,982
Program service revenue
$1,798,847
Investment income
$415,561
Other revenue
$2,703
Total assets, end of year
$51,840,108
Total liabilities, end of year
$44,709,606
Net assets or fund balances, end of year
$7,130,502
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

    $15,000

  • 2a · Program service revenue: INTEREST ON LOANS

    total $1,344,293 · related or exempt $1,344,293

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

    total $359,280 · related or exempt $359,280

  • 2c · Program service revenue: MEMBER FEE INCOME

    total $94,674 · related or exempt $94,674

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

    total $600 · unrelated business $600

  • 3 · Investment income

    total $417,626 · excluded $417,626

  • 5 · Royalties

    total $2,703 · excluded $2,703

  • 7a · Gross sales of assets other than inventory

    other assets $1,700

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

    other assets $3,765

  • 7c · Gain or loss

    other assets -$2,065

  • 7d · Net gain or loss

    total -$2,065 · related or exempt -$2,065

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $6,707

  • 2 · Grants to domestic individuals

    total $1,275

  • 5 · Compensation of officers, directors and key employees

    total $363,533

  • 7 · Other salaries and wages

    total $374,854

  • 8 · Pension plan contributions

    total $44,060

  • 9 · Other employee benefits

    total $80,232

  • 10 · Payroll taxes

    total $54,772

  • 11b · Fees: legal

    total $24,630

  • 11c · Fees: accounting

    total $5,153

  • 11g · Fees: other

    total $30,310

  • 12 · Advertising and promotion

    total $55,192

  • 13 · Office expenses

    total $333,352

  • 14 · Information technology

    total $157,677

  • 16 · Occupancy

    total $49,860

  • 17 · Travel

    total $32,613

  • 19 · Conferences, conventions and meetings

    total $13,273

  • 20 · Interest

    total $35,919

  • 22 · Depreciation, depletion and amortization

    total $49,215

  • 23 · Insurance

    total $31,472

  • 24a · Other expenses: DIVIDEND EXPENSE

    total $407,834

  • 24b · Other expenses: LOAN SERVICING

    total $37,571

  • 24c · Other expenses: GRANT EXPENDITURES

    total $15,000

  • 24d · Other expenses: CREDIT EXPENSE ADJST

    total -$1,605

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $221,861 · end of year $169,667

  • 2 · Savings and temporary cash investments

    beginning of year $5,179,450 · end of year $6,723,616

  • 4 · Accounts receivable

    beginning of year $4,000

  • 5 · Loans and receivables from officers and key people

    end of year $1,340

  • 7 · Other notes and loans receivable

    beginning of year $33,699,298 · end of year $32,955,118

  • 9 · Prepaid expenses and deferred charges

    beginning of year $114,356 · end of year $109,312

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

    $1,639,595

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

    $1,273,367

  • 10c · Land, buildings and equipment, net

    beginning of year $233,834 · end of year $366,228

  • 13 · Investments: program-related

    beginning of year $9,570,208 · end of year $7,069,208

  • 15 · Other assets

    beginning of year $5,963,291 · end of year $4,445,619

  • 17 · Accounts payable and accrued expenses

    beginning of year $733,555 · end of year $493,560

  • 23 · Secured mortgages and notes payable

    end of year $250,299

  • 24 · Unsecured notes and loans payable

    beginning of year $451,480

  • 25 · Other liabilities

    beginning of year $46,605,897 · end of year $43,965,747

  • 31 · Retained earnings, endowment or other funds

    beginning of year $7,195,366 · end of year $7,130,502

Mission and programs · 2023

Mission

TO EXCEED OUR MEMBERS' EXPECTATIONS THROUGH EXCEPTIONAL SERVICE.

  • THE CREDIT UNION HAS VARIOUS TYPES OF DEPOSIT ACCOUNTS AVAILABLE FOR OUR MEMBERS. WE ADDED 512 NEW DEPOSIT ACCOUNTS IN 2023. AS OF 12/31/23 WE HAD 2,623 MEMBERS.

  • THE CREDIT UNION HAS SEVERAL TYPES OF LOAN PROGRAMS AVAILABLE FOR OUR MEMBERS. WE FUNDED 1,105 NEW LOANS DURING 2023. AS OF 12/31/23 WE HAD 1,810 LOANS RECEIVABLE.

As filed on the 2023 return.

Listed in Part VII

  • Annita Hutter

    PRESIDENT /

    Total calculated
    $119,721
    From this org
    $111,419
    From related orgs
    $0
    Other
    $8,302
    Hours/week
    40

  • Michael Mallow

    EXEC VP

    Total calculated
    $115,949
    From this org
    $86,860
    From related orgs
    $0
    Other
    $29,089
    Hours/week
    40

  • Michael Shadduck

    VP LENDING

    Total calculated
    $91,051
    From this org
    $83,335
    From related orgs
    $0
    Other
    $7,716
    Hours/week
    40

  • Joshua Lee

    VP OPERATION

    Total calculated
    $87,319
    From this org
    $79,190
    From related orgs
    $0
    Other
    $8,129
    Hours/week
    40

  • Kara Krause

    CHAIR

    Total calculated
    $599
    From this org
    $599
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.5

  • Cynthia Phillips

    SECRETARY

    Total calculated
    $420
    From this org
    $420
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.5

  • David Evans

    VICE CHAIR

    Total calculated
    $360
    From this org
    $360
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.5

  • Steven Kofnetka

    DIRECTOR

    Total calculated
    $360
    From this org
    $360
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.5

  • Heidi Moore

    DIRECTOR

    Total calculated
    $360
    From this org
    $360
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.5

  • Laura Zahringer

    DIRECTOR

    Total calculated
    $330
    From this org
    $330
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.5

  • Carla Watson

    TREASURER

    Total calculated
    $300
    From this org
    $300
    From related orgs
    $0
    Other
    $0
    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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
26 April 2024
IRS schema version
2023v5.0
Source object
202401249349302535

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