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Nonprofiteer
← CREDIT UNIONS IN THE STATE OF NEW MEXICO

Form 990 for tax year 2024

Filed by CREDIT UNIONS IN THE STATE OF NEW MEXICO.

Totals

Total revenue
$1,527,637
Total expenses
$781,954
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$865,479
Investment income
$662,158
Other revenue
$0
Total assets, end of year
$36,003,397
Total liabilities, end of year
$28,950,608
Net assets or fund balances, end of year
$7,052,789
Program services expenses (Part IX)
$781,954
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 100.0% 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 $580,230 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: FEES AND CHARGES

    total $285,249 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $662,158 · unrelated business $0 · excluded $0

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $72,500 · program services $72,500 · management and general $0 · fundraising $0

  • 7 · Other salaries and wages

    total $147,135 · program services $147,135 · management and general $0 · fundraising $0

  • 8 · Pension plan contributions

    total $8,314 · program services $8,314 · management and general $0 · fundraising $0

  • 9 · Other employee benefits

    total $14,309 · program services $14,309 · management and general $0 · fundraising $0

  • 10 · Payroll taxes

    total $17,325 · program services $17,325 · management and general $0 · fundraising $0

  • 11c · Fees: accounting

    total $8,400 · program services $8,400 · management and general $0 · fundraising $0

  • 11g · Fees: other

    total $5,416 · program services $5,416 · management and general $0 · fundraising $0

  • 12 · Advertising and promotion

    total $4,964 · program services $4,964 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $35,172 · program services $35,172 · management and general $0 · fundraising $0

  • 14 · Information technology

    total $110,533 · program services $110,533 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $10,300 · program services $10,300 · management and general $0 · fundraising $0

  • 17 · Travel

    total $2,570 · program services $2,570 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $9,682 · program services $9,682 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $23,503 · program services $23,503 · management and general $0 · fundraising $0

  • 24a · Other expenses: DUES

    total $17,722 · program services $17,722 · management and general $0 · fundraising $0

  • 24b · Other expenses: LOAN SERVICING

    total $8,503 · program services $8,503 · management and general $0 · fundraising $0

  • 24c · Other expenses: CARD EXPENSES

    total $160,825 · program services $160,825 · management and general $0 · fundraising $0

  • 24d · Other expenses: LOAN LOSS PROVISION

    total $20,095 · program services $20,095 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $104,686 · program services $104,686 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $276,235 · end of year $382,147

  • 2 · Savings and temporary cash investments

    beginning of year $5,116,583 · end of year $6,590,814

  • 4 · Accounts receivable

    beginning of year $11,022,551 · end of year $10,640,041

  • 5 · Loans and receivables from officers and key people

    beginning of year $113,296 · end of year $128,896

  • 9 · Prepaid expenses and deferred charges

    beginning of year $70,962 · end of year $49,441

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

    $390,613

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

    $361,478

  • 10c · Land, buildings and equipment, net

    beginning of year $37,985 · end of year $29,135

  • 13 · Investments: program-related

    beginning of year $18,972,499 · end of year $17,818,000

  • 15 · Other assets

    beginning of year $358,024 · end of year $364,923

  • 17 · Accounts payable and accrued expenses

    beginning of year $178,395 · end of year $102,015

  • 25 · Other liabilities

    beginning of year $29,482,634 · end of year $28,848,593

  • 31 · Retained earnings, endowment or other funds

    beginning of year $6,307,106 · end of year $7,052,789

Mission and programs · 2024

Mission

PROVIDES SAVINGS AND LOAN PRODUCTS FOR MEMBERS AT COMPETETIVE RATES

  • THE CREDIT UNION OFFERS LOANS OF VARIOUS TYPES AT COMPETETIVE RATES

  • THE CREDIT UNION OFFERS SAVINGS PRODUCTS OF VARIOUS TYPES AT COMPETETIVE RATES

  • THE CREDIT UNION OFFERS IRA PRODUCTS OF VARIOUS TYPES AT COMPETETIVE RATES

As filed on the 2024 return.

Listed in Part VII

  • Dan Jennings

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    1

  • Harold Pleasant

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Julie Seiler

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Shelley Montgomery

    BOARD

    Total calculated
    $0
    Hours/week
    1

  • Debbie Norris

    BOARD

    Total calculated
    $0
    Hours/week
    1

  • Deb Beyhan

    BOARD

    Total calculated
    $0
    Hours/week
    1

  • Janyce Callaway

    BOARD

    Total calculated
    $0
    Hours/week
    1

  • Laura Cox

    MANAGER, TREASURER

    Total calculated
    $72,500
    From this org
    $72,500
    From related orgs
    $0
    Other
    $0
    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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
12 February 2025
IRS schema version
2024v5.0
Source object
202540509349300314

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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