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Nonprofiteer
← MEDIA CITY CREDIT UNION

Form 990 for tax year 2023

Filed by MEDIA CITY CREDIT UNION.

Totals

Total revenue
$1,722,774
Total expenses
$1,528,358
Contributions and grants received
$0
Grants paid
$255
Program service revenue
$1,394,255
Investment income
$328,519
Other revenue
$0
Total assets, end of year
$39,037,199
Total liabilities, end of year
$34,180,104
Net assets or fund balances, end of year
$4,857,095
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: INTEREST ON LOANS

    total $1,165,235 · related or exempt $1,165,235

  • 2b · Program service revenue: FEE INCOME

    total $190,518 · related or exempt $190,518

  • 2c · Program service revenue: OTHER OPERATING INCOME

    total $38,502 · related or exempt $32,693 · unrelated business $5,809

  • 3 · Investment income

    total $328,519 · related or exempt $328,519

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $255

  • 5 · Compensation of officers, directors and key employees

    total $140,676

  • 7 · Other salaries and wages

    total $344,663

  • 8 · Pension plan contributions

    total $15,109

  • 9 · Other employee benefits

    total $46,456

  • 10 · Payroll taxes

    total $36,743

  • 11a · Fees: management

    total $60,831

  • 11b · Fees: legal

    total $2,013

  • 11c · Fees: accounting

    total $66,901

  • 12 · Advertising and promotion

    total $49,945

  • 13 · Office expenses

    total $178,721

  • 14 · Information technology

    total $83,754

  • 16 · Occupancy

    total $52,110

  • 17 · Travel

    total $22,982

  • 20 · Interest

    total $252,922

  • 22 · Depreciation, depletion and amortization

    total $12,877

  • 23 · Insurance

    total $24,002

  • 24a · Other expenses: LOAN SERVICING EXPENSES

    total $74,404

  • 24b · Other expenses: CREDIT LOSS EXPENSE

    total $35,767

  • 24c · Other expenses: MISC OPERATING EXPENSES

    total $19,397

  • 24d · Other expenses: OPERATING FEES

    total $7,830

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $206,218 · end of year $139,654

  • 2 · Savings and temporary cash investments

    beginning of year $31,225 · end of year $296,520

  • 9 · Prepaid expenses and deferred charges

    beginning of year $40,350 · end of year $61,681

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

    $1,161,043

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

    $478,169

  • 10c · Land, buildings and equipment, net

    beginning of year $693,043 · end of year $682,874

  • 11 · Investments: publicly traded securities

    beginning of year $10,126,335 · end of year $10,143,703

  • 13 · Investments: program-related

    beginning of year $27,225,170 · end of year $27,517,521

  • 15 · Other assets

    beginning of year $141,366 · end of year $195,246

  • 17 · Accounts payable and accrued expenses

    beginning of year $17,610 · end of year $18,737

  • 25 · Other liabilities

    beginning of year $34,013,104 · end of year $34,161,367

  • 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 $4,432,993 · end of year $4,857,095

Mission and programs · 2023

Mission

A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS, CREATING A SOURCE OF CREDIT FOR THEM AT RATES OF INTEREST SET BY THE BOARD OF DIRECTORS, AND PROVIDING AN OPPORTUNITY FOR THEM TO USE AND CONTROL THEIR OWN MONEY ON A DEMOCRATIC BASIS IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS. AS A COOPERATIVE, MEDIA CITY COMMUNITY CREDIT UNION CONDUCTS ITS BUSINESS FOR THE MUTUAL BENEFIT AND GENERAL WELFARE OF ITS MEMBERS WITH THE EARNINGS, SAVINGS, BENEFITS, OR SERVICE OF THE CREDIT UNION BEING DISTRIBUTED TO ITS MEMBERS AS PATRONS.

Activities or mission (Part I)

A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS.

  • THE ORGANIZATION DELIVERED VALUED FINANCIAL PRODUCTS & SERVICES TO ITS MEMBERS.

  • THE ORGANIZATION WORKED PROACTIVELY WITH MEMBERS FACING FINANCIAL DIFFICULTIES BY OFFERING FINANCIAL PRODUCTS THAT WERE IN THE BEST INTEREST OF THE MEMBER AND CREDIT UNION.

  • THE ORGANIZATION CONTINUED TO OFFER COMPETITIVE RATES TO OUR MEMBERS.

  • THE ORGANIZATION DELIVERED VALUED FINANCIAL PRODUCTS & SERVICES TO ITS MEMBERS.

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Dayna Marks

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    0.5

  • Gary Kolominski

    VICE CHAIRPERSON

    Total calculated
    $0
    Hours/week
    0.5

  • Gary Nersisian

    BOARD TREASURER

    Total calculated
    $0
    Hours/week
    0.5

  • Edwin Magana

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Sandra Rodriguez-Shapiro

    SUPV CMTE CHAIRPERSON

    Total calculated
    $0
    Hours/week
    0.1

  • Anabel Duran

    SUPV CMTE MEMBER

    Total calculated
    $0
    Hours/week
    0.1

  • John Burke

    SUPV CMTE MEMBER

    Total calculated
    $0
    Hours/week
    0.1

  • Ana Ordonez

    CEO

    Total calculated
    $165,643
    From this org
    $140,676
    From related orgs
    $0
    Other
    $24,967
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $130,676
    Bonus
    $10,000
    Other
    $0
    Deferred
    $7,217
    Nontaxable benefits
    $17,750
    Filer's total
    $165,643

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 · Compensation survey or study

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
2023
Filed
25 October 2024
IRS schema version
2023v5.1
Source object
202413139349302241

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