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Nonprofiteer
← STATE CHARTERED CREDIT UNIONS IN LOUISIANA

Form 990 for tax year 2023

Filed by STATE CHARTERED CREDIT UNIONS IN LOUISIANA.

Totals

Total revenue
$2,771,783
Total expenses
$1,986,557
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$739,702
Other revenue
$2,032,081
Total assets, end of year
$65,614,485
Total liabilities, end of year
$54,539,968
Net assets or fund balances, end of year
$11,074,517
Program services expenses (Part IX)
$1,986,557
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$1,986,557

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.

  • 3 · Investment income

    total $739,702

  • 11a · Other revenue: INTEREST ON LOANS TO MEMBERS

    total $1,813,892

  • 11b · Other revenue: OTHER CHARGES/FEES TO MEMBERS

    total $218,189

  • 11e · Other revenue, total

    $2,032,081

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 $174,374 · program services $174,374

  • 6 · Compensation of disqualified persons

    total $235,332 · program services $235,332

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $43,686 · program services $43,686

  • 9 · Other employee benefits

    total $7,976 · program services $7,976

  • 10 · Payroll taxes

    total $28,376 · program services $28,376

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $12,714 · program services $12,714

  • 11c · Fees: accounting

    total $24,263 · program services $24,263

  • 11d · Fees: lobbying

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $0

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $94,934 · program services $94,934

  • 14 · Information technology

    total $325,250 · program services $325,250

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $62,706 · program services $62,706

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $2,378 · program services $2,378

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $15,777 · program services $15,777

  • 23 · Insurance

    total $32,500 · program services $32,500

  • 24a · Other expenses: DIVIDENDS

    total $788,075 · program services $788,075

  • 24b · Other expenses: LOAN SERVICING EXPENSE

    total $106,416 · program services $106,416

  • 24c · Other expenses: OFI EXAMINATION FEES

    total $21,000 · program services $21,000

  • 24d · Other expenses: LEAGUE DUES

    total $10,800 · program services $10,800

  • 24e · All other expenses

    total $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $19,065,755 · end of year $16,251,831

  • 7 · Other notes and loans receivable

    beginning of year $34,482,104 · end of year $37,496,527

  • 9 · Prepaid expenses and deferred charges

    beginning of year $300 · end of year $300

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

    $1,152,984

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

    $176,067

  • 10c · Land, buildings and equipment, net

    beginning of year $667,694 · end of year $976,917

  • 12 · Investments: other securities

    beginning of year $9,763,533 · end of year $10,319,450

  • 15 · Other assets

    beginning of year $549,902 · end of year $569,460

  • 17 · Accounts payable and accrued expenses

    beginning of year $362,034 · end of year $445,042

  • 25 · Other liabilities

    beginning of year $53,877,963 · end of year $54,094,926

  • 31 · Retained earnings, endowment or other funds

    beginning of year $10,289,291 · end of year $11,074,517

Mission and programs · 2023

Mission

PROVIDE AFFORDABLE FINANCIAL SERVICES FOR THE MEMBERS

Activities or mission (Part I)

TO PROVIDE AFFORDABLE FINANCIAL SERVICES TO MEMBERS

  • PROVIDING THE 2580 MEMBERS WITH AFFORDABLE SOURCE OF FINANCIAL SERVICES

    Expenses $1,986,557 · Revenue $2,771,783

As filed on the 2023 return.

Listed in Part VII

  • Eloyce McLung

    ASST CEO

    Total calculated
    $92,002
    From this org
    $92,002
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Bobby Cannon

    CEO

    Total calculated
    $82,372
    From this org
    $82,372
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • James E Pope

    BD MBR

    Total calculated
    $0
    Hours/week
    2

  • Kip A Mourad

    BD MBR

    Total calculated
    $0
    Hours/week
    2

  • Richard Parker

    BD MBR

    Total calculated
    $0
    Hours/week
    2

  • Dwayne Tasby

    BD MBR

    Total calculated
    $0
    Hours/week
    2

  • Lance Parker

    BD MBR

    Total calculated
    $0
    Hours/week
    2

  • Carlos Steward

    BD MBR

    Total calculated
    $0
    Hours/week
    2

  • Kenneth Conly

    SEC/TREASURE

    Total calculated
    $0
    Hours/week
    2

  • Cedric White

    V/CHAIR

    Total calculated
    $0
    Hours/week
    2

  • William T Howard

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

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
2023
Filed
25 July 2024
IRS schema version
2023v5.1
Source object
202432149349301613

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