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Nonprofiteer
← READING BERKS SCHOOL EMPLOYEES CREDIT UNION

Form 990 for tax year 2022

Filed by READING BERKS SCHOOL EMPLOYEES CREDIT UNION.

Totals

Total revenue
$336,982
Total expenses
$357,192
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$336,982
Other revenue
$0
Total assets, end of year
$18,780,055
Total liabilities, end of year
-$1,423
Net assets or fund balances, end of year
$18,781,478
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.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $0

  • 1f · All other contributions, gifts and grants

    $0

  • 1g · Noncash contributions included above

    $0

  • 3 · Investment income

    total $336,982 · related or exempt $336,982 · 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

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 8a · Fundraising events: contributions included on line 1c

    $0

  • 11e · Other revenue, total

    $0

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 $160,238

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $13,005

  • 11a · Fees: management

    total $77,560

  • 11b · Fees: legal

    total $20,092

  • 11c · Fees: accounting

    total $358

  • 12 · Advertising and promotion

    total $13

  • 13 · Office expenses

    total $12,569

  • 16 · Occupancy

    total $23,164

  • 17 · Travel

    total $2,829

  • 23 · Insurance

    total $11,929

  • 24a · Other expenses: Dividend to members

    total $35,435

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $6,488,123 · end of year $1,528,573

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $0

  • 4 · Accounts receivable

    beginning of year $1,389 · end of year $0

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $70,652

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $4,436,428 · end of year $4,440,344

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $12,011 · end of year $124

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $12,554,000

  • 12 · Investments: other securities

    beginning of year $7,611,000 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $104,774 · end of year $186,362

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,389 · end of year -$1,423

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 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

  • 29 · Capital stock, trust principal or current funds

    beginning of year $16,454,731 · end of year $16,604,062

  • 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 $2,197,605 · end of year $2,177,416

Mission and programs · 2022

Mission

1. Pay competitive dividends on saving accounts to its members. 2. Provide loans to members at competitive or lower interest rates.

Activities or mission (Part I)

Provide low interest loans and pay competitive dividends on saving accounts to its members.

  • Provide competitive dividends on member's savings accounts.

  • Provide competitive low interest loans for credit union members

As filed on the 2022 return.

Listed in Part VII

  • Steven L Harris

    PRESIDENT TREASURER

    Total calculated
    $48,960
    From this org
    $48,960
    From related orgs
    $0
    Other
    $0
    Hours/week
    15

  • Shirley J Nuss

    VICE PRESIDENT

    Total calculated
    $35,869
    From this org
    $35,869
    From related orgs
    $0
    Other
    $0
    Hours/week
    12

  • Patricia A Sands

    BOARD MEMBER

    Total calculated
    $35,869
    From this org
    $35,869
    From related orgs
    $0
    Other
    $0
    Hours/week
    12

  • Marilyn Seiders

    SECRETARY

    Total calculated
    $35,869
    From this org
    $35,869
    From related orgs
    $0
    Other
    $0
    Hours/week
    15

  • John C Boyer

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Elizabeth Gattone

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    3

  • Jeffrey Gattone

    BOARD MEMBERS

    Total calculated
    $0
    Hours/week
    3

  • Joseph Godek

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Susan Godek

    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
2022
Filed
23 March 2023
IRS schema version
2022v5.0
Source object
202310829349301566

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