Totals
- Total revenue
- $2,568,574
- Total expenses
- $2,044,643
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $2,372,935
- Investment income
- $187,973
- Other revenue
- $7,666
- Total assets, end of year
- $58,597,299
- Total liabilities, end of year
- $53,810,804
- Net assets or fund balances, end of year
- $4,786,495
- Program services expenses (Part IX)
- $2,044,643
- 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: Loan Income
total $1,712,157 · related or exempt $1,712,157
-
2b · Program service revenue: Other Member Fees
total $353,771 · related or exempt $353,771
-
2c · Program service revenue: Card Services Intercha
total $286,939 · related or exempt $286,939
-
2d · Program service revenue: Insurance Commissions
total $12,660 · related or exempt $12,660
-
2e · Program service revenue: Atm Fees Warranty Co
total $7,408 · unrelated business $7,408
-
3 · Investment income
total $187,973 · related or exempt $187,973
-
5 · Royalties
total $7,666 · related or exempt $7,666
-
8c · Net income from fundraising events
total $0
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $327,473 · program services $327,473
-
7 · Other salaries and wages
total $497,199 · program services $497,199
-
8 · Pension plan contributions
total $33,937 · program services $33,937
-
9 · Other employee benefits
total $107,083 · program services $107,083
-
11c · Fees: accounting
total $22,195 · program services $22,195
-
11g · Fees: other
total $126,689 · program services $126,689
-
12 · Advertising and promotion
total $35,328 · program services $35,328
-
13 · Office expenses
total $131,878 · program services $131,878
-
14 · Information technology
total $103,049 · program services $103,049
-
16 · Occupancy
total $112,792 · program services $112,792
-
17 · Travel
total $7,226 · program services $7,226
-
21 · Payments to affiliates
total $18,656 · program services $18,656
-
22 · Depreciation, depletion and amortization
total $89,284 · program services $89,284
-
24a · Other expenses: Member Card Processing
total $196,356 · program services $196,356
-
24b · Other expenses: Provision for loan Losses
total $34,000 · program services $34,000
-
24c · Other expenses: loan Servicing Expenses
total $132,727 · program services $132,727
-
24d · Other expenses: Dividends on Shares
total $68,771 · program services $68,771
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $519,783 · end of year $576,359
-
2 · Savings and temporary cash investments
beginning of year $13,644,261 · end of year $11,293,279
-
7 · Other notes and loans receivable
beginning of year $38,390,536 · end of year $41,790,122
-
9 · Prepaid expenses and deferred charges
beginning of year $836,649 · end of year $856,866
-
10a · Land, buildings and equipment: cost or other basis
$2,669,197
-
10b · Land, buildings and equipment: accumulated depreciation
$1,338,945
-
10c · Land, buildings and equipment, net
beginning of year $1,375,041 · end of year $1,330,252
-
13 · Investments: program-related
beginning of year $2,643,586 · end of year $2,750,421
-
17 · Accounts payable and accrued expenses
beginning of year $255,672 · end of year $367,862
-
25 · Other liabilities
beginning of year $52,891,620 · end of year $53,442,942
-
31 · Retained earnings, endowment or other funds
beginning of year $4,262,564 · end of year $4,786,495
Mission and programs · 2022
Mission
Providing financial services to our member-owners to maximize their financial future
Activities or mission (Part I)
NOT FOR PROFIT FINANCIAL COOPERATIVE THRIFT WHICH PROVIDES FINANCIAL SERVICES TO BENEFIT THE MEMBERSHIP OF THE ORGANIZATION
-
FOCUS CREDIT UNION GRANTED 699 MEMBER LOANS DURING 2022. AS OF DECEMBER 31, 2022 FCU HAD 104 MORTGAGE LOANS AND LINES OF CREDIT OUTSTANDING, 823 CREDIT CARDS OUTSTANDING AND 2,386 CONSUMER LOANS AND LINES OF CREDIT OUTSTANDING.
-
FOCUS CREDIT UNION HAD DEPOSIT, TRANSACTION, AND INVESTMENT ACCOUNTS WITH 6,606 MEMBERS. DURING 2022 FCU OPENED 375 NEW MEMBER ACCOUNTS.
As filed on the 2022 return.
Listed in Part VII
-
Dean C WilsonDEAN C WILSON
PRESIDENTCEO
- Total calculated
- $195,931
- From this org
- $185,639
- From related orgs
- $0
- Other
- $10,292
- Hours/week
- 55
Schedule J breakdown matched by us
- Base
- $185,639
- Bonus
- not reported
- Other
- not reported
- Deferred
- $10,292
- Nontaxable benefits
- not reported
- Filer's total
- $195,931
-
Kimberly R YoungbloodKIMBERLY R YOUNGBLOOD
SVPCOO
- Total calculated
- $150,758
- From this org
- $141,834
- From related orgs
- $0
- Other
- $8,924
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $141,834
- Bonus
- not reported
- Other
- not reported
- Deferred
- $8,924
- Nontaxable benefits
- not reported
- Filer's total
- $150,758
-
John WeberJOHN WEBER
BOARD CHAIR
- Total calculated
- $540
- From this org
- $540
- From related orgs
- $0
- Other
- $0
- Hours/week
- 0.5
Schedule J breakdown matched by us
- Base
- $540
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- $540
-
Amy BarronAMY BARRON
BOARD SECRETARY
- Total calculated
- $540
- From this org
- $540
- From related orgs
- $0
- Other
- $0
- Hours/week
- 0.5
Schedule J breakdown matched by us
- Base
- $540
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- $540
-
Kimberly AshwoodKIMBERLY ASHWOOD
BOARD DIRECTOR
- Total calculated
- $585
- From this org
- $585
- From related orgs
- $0
- Other
- $0
- Hours/week
- 0.5
Schedule J breakdown matched by us
- Base
- $585
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- $585
-
Steve SweeneySTEVE SWEENEY
BOARD TREASURER
- Total calculated
- $495
- From this org
- $495
- From related orgs
- $0
- Other
- $0
- Hours/week
- 0.5
Schedule J breakdown matched by us
- Base
- $495
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- $495
-
Katie IshKATIE ISH
BOARD DIRECTOR
- Total calculated
- $360
- From this org
- $360
- From related orgs
- $0
- Other
- $0
- Hours/week
- 0.5
Schedule J breakdown matched by us
- Base
- $360
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- $360
-
Tracie ParentTRACIE PARENT
BOARD DIRECTOR
- Total calculated
- $270
- From this org
- $270
- From related orgs
- $0
- Other
- $0
- Hours/week
- 0.5
Schedule J breakdown matched by us
- Base
- $270
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- $270
-
Ryan CepicanRYAN CEPICAN
VICECHAIR
- Total calculated
- $405
- From this org
- $405
- From related orgs
- $0
- Other
- $0
- Hours/week
- 0.5
Schedule J breakdown matched by us
- Base
- $405
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- $405
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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
None.
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 27 March 2023
- IRS schema version
- 2022v5.0
- Source object
- 202340869349300929
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