Form 990 for tax year 2022
Filed by ELECTRIC MACHINERY EMPLOYEES CREDIT UNION.
Totals
- Total revenue
- $331,496
- Total expenses
- $316,688
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $293,775
- Investment income
- $37,721
- Other revenue
- $0
- Total assets, end of year
- $8,848,914
- Total liabilities, end of year
- $7,113,780
- Net assets or fund balances, end of year
- $1,735,134
- Program services expenses (Part IX)
- $0
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $31,158
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: member loan interest
total $245,060 · related or exempt $245,060
-
2b · Program service revenue: ATM program
total $1,123 · related or exempt $1,123
-
2c · Program service revenue: NCUA corp resolution
total $43,436 · related or exempt $43,436
-
2f · All other program service revenue
total $4,156 · related or exempt $4,156
-
3 · Investment income
total $37,721 · related or exempt $37,721
-
8c · Net income from fundraising events
total $0
Functional expenses
Part IX, the statement of functional expenses.
-
4 · Benefits paid to or for members
total $31,158
-
5 · Compensation of officers, directors and key employees
total $75,791
-
7 · Other salaries and wages
total $48,382
-
8 · Pension plan contributions
total $4,039
-
9 · Other employee benefits
total $14,150
-
10 · Payroll taxes
total $9,469
-
12 · Advertising and promotion
total $233
-
13 · Office expenses
total $7,285
-
14 · Information technology
total $42,845
-
16 · Occupancy
total $1,729
-
17 · Travel
total $1,199
-
20 · Interest
total $113
-
21 · Payments to affiliates
total $7,178
-
23 · Insurance
total $11,580
-
24a · Other expenses: visa card expense
total $37,117
-
24b · Other expenses: atm card expense
total $10,988
-
24c · Other expenses: provision for loan loss
total $5,212
-
24d · Other expenses: federal/state exam
total $7,405
-
24e · All other expenses
total $815
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $228,922 · end of year $118,512
-
2 · Savings and temporary cash investments
beginning of year $4,007,457 · end of year $3,811,678
-
5 · Loans and receivables from officers and key people
beginning of year $72,975 · end of year $147,654
-
7 · Other notes and loans receivable
beginning of year $4,543,252 · end of year $4,751,847
-
9 · Prepaid expenses and deferred charges
beginning of year $12,200 · end of year $6,344
-
15 · Other assets
beginning of year $11,298 · end of year $12,879
-
17 · Accounts payable and accrued expenses
beginning of year $13,583 · end of year $15,578
-
25 · Other liabilities
beginning of year $7,142,197 · end of year $7,098,202
-
31 · Retained earnings, endowment or other funds
beginning of year $1,720,324 · end of year $1,735,134
Mission and programs · 2022
Mission
To provide financial services and products consistant with our membership. To offer loans and savings accounts at a competitive rate.
Activities or mission (Part I)
Provide competitive rates on savings accounts and low cost loans to our members
-
dividends paid to members
Expenses $17,734
-
loan servicing
Expenses $12,785
-
annual meeting
Expenses $639
As filed on the 2022 return.
Listed in Part VII
-
Gregory D EricsonGREGORY D ERICSON
President
- Total calculated
- $75,790
- From this org
- $75,790
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Richard GrossRICHARD GROSS
Chairman of the board
- Total calculated
- $0
- Hours/week
- 1
-
Joe WestenfieldJOE WESTENFIELD
Director
- Total calculated
- $0
- Hours/week
- 1
-
Eric NormanERIC NORMAN
Secretary Treasurer
- Total calculated
- $0
- Hours/week
- 1
-
Ryan LaflammeRYAN LAFLAMME
Vice Chairman
- Total calculated
- $0
- Hours/week
- 1
-
Joe LoyasJOE LOYAS
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
- 2022
- Filed
- 3 May 2023
- IRS schema version
- 2022v5.0
- Source object
- 202341239349301749
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