Form 990 for tax year 2023
Filed by THE PERFECT CIRCLE CREDIT UNION.
Totals
- Total revenue
- $3,385,552
- Total expenses
- $3,271,528
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $1,541,679
- Investment income
- $684,263
- Other revenue
- $1,159,610
- Total assets, end of year
- $61,836,622
- Total liabilities, end of year
- $807,133
- Net assets or fund balances, end of year
- $61,029,489
- Program services expenses (Part IX)
- $0
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $0
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.
-
2a · Program service revenue: Loan Income
total $1,541,679 · related or exempt $1,541,679 · unrelated business $0 · excluded $0
-
2f · All other program service revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
3 · Investment income
total $688,492 · related or exempt $688,492 · unrelated business $0 · excluded $0
-
4 · Income from investment of tax-exempt bond proceeds
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
5 · Royalties
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
6a · Gross rents
real property $0 · personal property $0
-
6b · Less rental expenses
real property $0 · personal property $0
-
6c · Rental income or loss
real property $0 · personal property $0
-
6d · Net rental income or loss
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
7a · Gross sales of assets other than inventory
securities $0 · other assets $0
-
7b · Less cost or other basis and sales expenses
securities $0 · other assets $4,229
-
7c · Gain or loss
securities $0 · other assets -$4,229
-
7d · Net gain or loss
total -$4,229 · related or exempt -$4,229 · unrelated business $0 · excluded $0
-
11a · Other revenue: Fee Income
total $496,118 · related or exempt $496,118 · unrelated business $0 · excluded $0
-
11b · Other revenue: Other Income
total $663,492 · related or exempt $663,492 · unrelated business $0 · excluded $0
-
11d · All other revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
11e · Other revenue, total
$1,159,610
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $114,817
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $952,431
-
8 · Pension plan contributions
total $27,900
-
9 · Other employee benefits
total $88,155
-
10 · Payroll taxes
total $78,864
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $0
-
11c · Fees: accounting
total $15,767
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $33,692
-
11g · Fees: other
total $0
-
12 · Advertising and promotion
total $79,221
-
13 · Office expenses
total $240,584
-
14 · Information technology
total $667,094
-
15 · Royalties
total $0
-
16 · Occupancy
total $214,366
-
17 · Travel
total $8,623
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $0
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $68,437
-
24a · Other expenses: Education & Development
total $21,923
-
24b · Other expenses: Loan Servicing Expense
total $135,037
-
24c · Other expenses: Prov for Loan Loss/CIPOL Recovery
total $253,784
-
24d · Other expenses: Dividend Expense
total $270,833
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,069,709 · end of year $817,648
-
2 · Savings and temporary cash investments
beginning of year $3,759,620 · end of year $1,738,438
-
3 · Pledges and grants receivable
beginning of year $0 · end of year $0
-
4 · Accounts receivable
beginning of year $0 · end of year $0
-
5 · Loans and receivables from officers and key people
beginning of year $0 · end of year $0
-
6 · Loans and receivables from disqualified persons
beginning of year $0 · end of year $0
-
7 · Other notes and loans receivable
beginning of year $25,728,218 · end of year $26,693,663
-
9 · Prepaid expenses and deferred charges
beginning of year $178,476 · end of year $177,611
-
10a · Land, buildings and equipment: cost or other basis
$3,304,047
-
10b · Land, buildings and equipment: accumulated depreciation
$2,519,311
-
10c · Land, buildings and equipment, net
beginning of year $877,492 · end of year $784,736
-
12 · Investments: other securities
beginning of year $33,337,035 · end of year $30,339,419
-
15 · Other assets
beginning of year $1,256,575 · end of year $1,285,107
-
17 · Accounts payable and accrued expenses
beginning of year $62,746 · end of year $79,248
-
18 · Grants payable
beginning of year $0 · end of year $0
-
19 · Deferred revenue
beginning of year $25,030 · end of year $18,742
-
20 · Tax-exempt bond liabilities
beginning of year $0 · end of year $0
-
21 · Escrow or custodial account liability
beginning of year $0 · end of year $0
-
22 · Loans and payables to officers and key people
beginning of year $0 · end of year $0
-
23 · Secured mortgages and notes payable
beginning of year $0 · end of year $0
-
24 · Unsecured notes and loans payable
beginning of year $0 · end of year $0
-
25 · Other liabilities
beginning of year $559,034 · end of year $709,143
-
29 · Capital stock, trust principal or current funds
beginning of year $60,896,851 · end of year $56,107,134
-
30 · Paid-in or capital surplus, or land, building or equipment fund
beginning of year $836,429 · end of year $981,297
-
31 · Retained earnings, endowment or other funds
beginning of year $3,827,035 · end of year $3,941,058
Mission and programs · 2023
Mission
Cooperative Financial Institution
-
Credit Union Programs: Savings by members totaling $49,921,178.53
-
Credit Union Programs: Loans to members totaling $26,693,663.30
As filed on the 2023 return.
Listed in Part VII
-
Joshua Haney
President
- Total calculated
- $114,817
- From this org
- $114,817
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Michele Curry
Chairperson
- Total calculated
- $0
- Hours/week
- 1
-
Tina Davis
Vice Chairperson
- Total calculated
- $0
- Hours/week
- 1
-
Jason Moore
Secretary - Treasurer
- Total calculated
- $0
- Hours/week
- 1
-
Joe Backmeyer
Director
- Total calculated
- $0
- Hours/week
- 1
-
Tim Reagan
Director
- Total calculated
- $0
- Hours/week
- 1
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
- 6 May 2024
- IRS schema version
- 2023v5.0
- Source object
- 202401309349302140
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