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Nonprofiteer
← 1129 FALLS CATHOLIC CREDIT UNION INC

Form 990 for tax year 2022

Filed by 1129 FALLS CATHOLIC CREDIT UNION INC.

Totals

Total revenue
$2,065,973
Total expenses
$1,631,174
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,719,769
Investment income
$346,204
Other revenue
$0
Total assets, end of year
$54,602,519
Total liabilities, end of year
$46,419,122
Net assets or fund balances, end of year
$8,183,397
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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 INTEREST INCOME

    total $1,382,663 · related or exempt $1,382,663

  • 2b · Program service revenue: DEPOSIT-RELATED INCOME

    total $172,454 · related or exempt $172,454

  • 2c · Program service revenue: LENDING-RELATED INCOME

    total $107,887 · related or exempt $107,887

  • 2d · Program service revenue: CARD INCOME

    total $46,001 · related or exempt $46,001

  • 2e · Program service revenue: OTHER INCOME

    total $10,764 · related or exempt $10,764

  • 3 · Investment income

    total $346,204 · excluded $346,204

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $95,580

  • 5 · Compensation of officers, directors and key employees

    total $254,359

  • 7 · Other salaries and wages

    total $261,489

  • 8 · Pension plan contributions

    total $25,236

  • 9 · Other employee benefits

    total $123,838

  • 10 · Payroll taxes

    total $39,280

  • 11b · Fees: legal

    total $29,309

  • 11c · Fees: accounting

    total $38,949

  • 11f · Fees: investment management

    total $1,020

  • 11g · Fees: other

    total $9,387

  • 12 · Advertising and promotion

    total $78,264

  • 13 · Office expenses

    total $95,829

  • 16 · Occupancy

    total $65,763

  • 22 · Depreciation, depletion and amortization

    total $42,033

  • 23 · Insurance

    total $28,577

  • 24a · Other expenses: BANK CHARGES AND PROCES

    total $277,871

  • 24b · Other expenses: OTHER

    total $87,332

  • 24c · Other expenses: LOAN PROCESSING

    total $80,853

  • 24d · Other expenses: DIRECTORS DUES & EXPENS

    total $21,205

  • 24e · All other expenses

    total -$25,000

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $338,446 · end of year $402,358

  • 2 · Savings and temporary cash investments

    beginning of year $17,936,457 · end of year $9,559,415

  • 7 · Other notes and loans receivable

    beginning of year $23,972,175 · end of year $30,332,411

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

    $1,851,961

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

    $998,431

  • 10c · Land, buildings and equipment, net

    beginning of year $894,000 · end of year $853,530

  • 12 · Investments: other securities

    beginning of year $10,271,490 · end of year $12,580,726

  • 15 · Other assets

    beginning of year $935,434 · end of year $874,079

  • 17 · Accounts payable and accrued expenses

    beginning of year $251,052 · end of year $257,887

  • 25 · Other liabilities

    beginning of year $46,249,461 · end of year $46,161,235

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 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 $7,847,489 · end of year $8,183,397

Mission and programs · 2022

Mission

POOL MEMBER FINANCIAL RESOURCES IN ORDER TO PROVIDE FUNDS FOR LOANS AND VARIOUS FINANCIAL SERVICES WHICH ARE AVAILABLE TO ANYONE WITHIN THE MEMBERSHIP BASE. FALLS CATHOLIC CREDIT UNION IS DEDICATED TO BEING THE PRIMARY FINANCIAL INSTITUTION FOR THE MEMBERSHIP BY PROVIDING A FULL RANGE OF FINANCIAL SERVICES WHILE MAINTAINING CUSTOMER SATISFACTION, GROWTH AND STABILITY.

  • OUR PRIMARY SERVICE IS LENDING AND THE REVENUE THAT WE RECEIVE IS IN THE FORM OF INTEREST AND FEES ON LOANS. THE FUNDS THAT WE LOAN OUT ARE THOSE THAT HAVE BEEN DEPOSITED BY OUR MEMBERS SO THE EXPENSES--THE COST OF THESE FUNDS--ARE THE DIVIDENDS THAT WE PAY ON THESE DEPOSITS PLUS ANY INTEREST THAT WE PAY ON FUNDS THAT WE NEED TO BORROW.

  • WE ALSO OFFER SHARE DRAFT-CHECKING ACCOUNT WITH ATM CARDS AND MASTERCARD DEBIT CARDS. WE RECEIVE REVENUE FROM THE MEMBERS BY PROVIDING THESE SERVICES-- AND INCUR COSTS AS WELL.

  • WE ALSO DERIVE INCOME FROM FEES RELATED TO THE FINANCIAL SERVICES WE OFFER OUR MEMBERS.

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Terrence Steel

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Michael Burns

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Nicholas Hill

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Abraham Brannan

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Sue Figler

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Sean Wilson

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Olivia Blatt

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Terri Stott

    VICE PRESIDENT

    Total calculated
    $66,254
    From this org
    $66,254
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Bill Lambacher

    COMPTROLLER

    Total calculated
    $67,641
    From this org
    $67,641
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Matthew Mecurio

    PRESIDENT/CEO

    Total calculated
    $120,464
    From this org
    $120,464
    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
2022
Filed
23 October 2023
IRS schema version
2022v5.0
Source object
202332999349300818

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