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← STATE CHARTERED CREDIT UNIONS IN NORTH CAROLINA

Form 990 for tax year 2023

Filed by STATE CHARTERED CREDIT UNIONS IN NORTH CAROLINA.

Totals

Total revenue
$381,545
Total expenses
$293,131
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$289,470
Investment income
$92,075
Other revenue
$0
Total assets, end of year
$7,957,273
Total liabilities, end of year
$7,000,056
Net assets or fund balances, end of year
$957,217
Program services expenses (Part IX)
$278,640
Management and general expenses
$14,491
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 95.1% 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 $245,513 · related or exempt $245,513

  • 2b · Program service revenue: OTHER INCOME

    total $36,465 · related or exempt $36,465

  • 2c · Program service revenue: FEE INCOME

    total $7,492 · related or exempt $7,492

  • 3 · Investment income

    total $92,075 · related or exempt $92,075

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $128,048 · program services $115,243 · management and general $12,805

  • 11g · Fees: other

    total $16,431 · program services $16,431

  • 12 · Advertising and promotion

    total $50 · program services $50

  • 13 · Office expenses

    total $30,685 · program services $30,685

  • 14 · Information technology

    total $50,414 · program services $50,414

  • 19 · Conferences, conventions and meetings

    total $1,200 · program services $1,200

  • 20 · Interest

    total $46,100 · program services $46,100

  • 24a · Other expenses: OUTSIDE PROFESSIONAL SER

    total $16,859 · program services $15,173 · management and general $1,686

  • 24b · Other expenses: MISC EXPENSE

    total $4,227 · program services $4,227

  • 24c · Other expenses: LEAGUE DUES

    total $3,190 · program services $3,190

  • 24d · Other expenses: LOAN SERVICING

    total $1,662 · program services $1,662

  • 24e · All other expenses

    total -$5,735 · program services -$5,735

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $118,418 · end of year $115,618

  • 2 · Savings and temporary cash investments

    beginning of year $3,365,631 · end of year $3,027,809

  • 7 · Other notes and loans receivable

    beginning of year $3,975,460 · end of year $4,710,227

  • 9 · Prepaid expenses and deferred charges

    beginning of year $23,418 · end of year $14,087

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

    $7,364

  • 10c · Land, buildings and equipment, net

    beginning of year $2,702 · end of year $7,364

  • 15 · Other assets

    beginning of year $75,271 · end of year $82,168

  • 17 · Accounts payable and accrued expenses

    beginning of year $41,319 · end of year $63,355

  • 25 · Other liabilities

    beginning of year $6,650,778 · end of year $6,936,701

  • 31 · Retained earnings, endowment or other funds

    beginning of year $868,803 · end of year $957,217

Mission and programs · 2023

Mission

TO MAKE LOANS AND PROVIDE SAVINGS ACCOUNTS FOR MEMBERS AT REASONABLE RATES

  • DURING THE YEAR, THE CREDIT UNION SERVED ITS MEMBERS BY PROVIDING LOANS AT REASONABLE RATES. IT ALSO ACCEPTED DEPOSITS AND PAID REASONABLE RATES OF INTEREST ON THOSE DEPOSITS.

  • DURING THE YEAR, THE CREDIT UNION SERVED ITS MEMBERS BY PROVIDING LOANS AT REASONABLE RATES. IT ALSO ACCEPTED DEPOSITS AND PAID REASONABLE RATES OF INTEREST ON THOSE DEPOSITS.

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Shelly Fender

    MANAGER/ TRE

    Total calculated
    $46,250
    From this org
    $46,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • William Brown

    VICE PRESIDE

    Total calculated
    $0
    Hours/week
    1

  • Vann Gibbs

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Tami Houston

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • John Hughes

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Karen Kelly

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Robert Reynolds

    BOARD MEMBER

    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
14 May 2024
IRS schema version
2023v5.0
Source object
202431369349304238

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