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Nonprofiteer
← ASSOCIATED HEALTHCARE CREDIT UNION

Form 990 for tax year 2022

Filed by ASSOCIATED HEALTHCARE CREDIT UNION.

Totals

Total revenue
$6,129,567
Total expenses
$4,577,618
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$5,769,328
Investment income
$360,239
Other revenue
$0
Total assets, end of year
$159,447,035
Total liabilities, end of year
$143,097,380
Net assets or fund balances, end of year
$16,349,655
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

    total $3,894,678 · related or exempt $3,894,678

  • 2b · Program service revenue: OTHER INCOME

    total $1,157,509 · related or exempt $1,157,509

  • 2c · Program service revenue: FEES/CHARGES

    total $717,141 · related or exempt $710,566 · unrelated business $6,575

  • 3 · Investment income

    total $362,459 · excluded $362,459

  • 7a · Gross sales of assets other than inventory

    other assets $21,780

  • 7b · Less cost or other basis and sales expenses

    other assets $24,000

  • 7c · Gain or loss

    other assets -$2,220

  • 7d · Net gain or loss

    total -$2,220 · excluded -$2,220

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $457,207

  • 7 · Other salaries and wages

    total $973,397

  • 8 · Pension plan contributions

    total $57,918

  • 9 · Other employee benefits

    total $86,971

  • 10 · Payroll taxes

    total $139,145

  • 11b · Fees: legal

    total $2,163

  • 11c · Fees: accounting

    total $42,734

  • 11g · Fees: other

    total $359,803

  • 13 · Office expenses

    total $1,099,114

  • 16 · Occupancy

    total $244,749

  • 17 · Travel

    total $16,977

  • 20 · Interest

    total $350,933

  • 22 · Depreciation, depletion and amortization

    total $72,545

  • 24a · Other expenses: LOAN SERVICE EXPENSE

    total $345,041

  • 24b · Other expenses: EDUCATION/PROMOTION

    total $194,376

  • 24c · Other expenses: LOAN LOSS PROVISION

    total $101,630

  • 24d · Other expenses: MISCELLANEOUS EXPENSE

    total $32,915

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $710,940 · end of year $387,014

  • 2 · Savings and temporary cash investments

    beginning of year $25,645,490 · end of year $11,759,840

  • 7 · Other notes and loans receivable

    beginning of year $111,701,619 · end of year $125,437,022

  • 9 · Prepaid expenses and deferred charges

    beginning of year $200,011 · end of year $295,998

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

    $1,970,607

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

    $816,436

  • 10c · Land, buildings and equipment, net

    beginning of year $853,898 · end of year $1,154,171

  • 12 · Investments: other securities

    beginning of year $12,412,486 · end of year $18,093,995

  • 13 · Investments: program-related

    beginning of year $1,352,661 · end of year $1,419,224

  • 15 · Other assets

    beginning of year $2,117,714 · end of year $899,771

  • 17 · Accounts payable and accrued expenses

    beginning of year $837,448 · end of year $1,114,519

  • 25 · Other liabilities

    beginning of year $138,303,717 · end of year $141,982,861

  • 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 $15,853,654 · end of year $16,349,655

Mission and programs · 2022

Mission

TO PROVIDE LENDING, SAVINGS AND OTHER FINANCIAL SERVICES TO ITS QUALIFYING MEMBERS AT TERMS GENERALLY BETTER THAN AVAILABLE IN THE MARKETPLACE AND WITH A "SERVICE-BASED EMPHASIS" THAT RECOGNIZES THE MEMBERS' STATUS AS "OWNERS".

  • THE CREDIT UNION PROVIDES A VARIETY OF DEPOSITORY SERVICES TO OUR MEMBERSHIP. WE HAD 12,796 MEMBER ACCOUNTS WITH DEPOSITS OF $141,982,861 AS OF DECEMBER 31, 2022.

  • THE CREDIT UNION PROVIDES A VARIETY OF LENDING SERVICES TO OUR MEMBERSHIP. WE HAD 8,201 LOANS OUTSTANDING AS OF DECEMBER 31, 2022 WITH BALANCES OF $125,702,388.

  • THE CREDIT UNION PROVIDES ACCESS TO MEMBERS TO THEIR ACCOUNTS VIA ELECTRONIC BANKING, ATM NETWORK, SHARED BRANCHING, AND IN PERSON.

As filed on the 2022 return.

Listed in Part VII

  • Michael Nass

    DIRECTOR

    Total calculated
    $575
    From this org
    $575
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Patti Elliot-Allen

    VICE CHAIR

    Total calculated
    $525
    From this org
    $525
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Corrine Kroehler

    DIRECTOR

    Total calculated
    $500
    From this org
    $500
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Joe Clubb

    CHAIR

    Total calculated
    $475
    From this org
    $475
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Thomas Gavinski

    DIRECTOR

    Total calculated
    $475
    From this org
    $475
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Katina McDugle

    TREASURER

    Total calculated
    $425
    From this org
    $425
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Linda Zdon

    SECRETARY

    Total calculated
    $275
    From this org
    $275
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Theresa Malone

    CEO

    Total calculated
    $269,447
    From this org
    $222,426
    From related orgs
    $0
    Other
    $47,021
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $195,141
    Bonus
    $19,706
    Other
    $7,579
    Deferred
    $31,048
    Nontaxable benefits
    $15,973
    Filer's total
    $269,447

  • Andrew Rihm

    VP LENDING

    Total calculated
    $184,510
    From this org
    $168,519
    From related orgs
    $0
    Other
    $15,991
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $153,722
    Bonus
    $8,889
    Other
    $5,908
    Deferred
    $8,231
    Nontaxable benefits
    $7,760
    Filer's total
    $184,510

  • Chee Lee

    EXECUTIVE DIRECTOR OF FINANCE

    Total calculated
    $131,988
    From this org
    $118,411
    From related orgs
    $0
    Other
    $13,577
    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. 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

  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

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
11 November 2023
IRS schema version
2022v5.0
Source object
202333179349302973

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