Totals
- Total revenue
- $10,510,257
- Total expenses
- $7,669,522
- Contributions and grants received
- $0
- Grants paid
- $18,495
- Program service revenue
- $9,498,504
- Investment income
- $989,440
- Other revenue
- $22,313
- Total assets, end of year
- $195,240,766
- Total liabilities, end of year
- $175,606,878
- Net assets or fund balances, end of year
- $19,633,888
- 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 $6,504,261 · related or exempt $6,504,261
-
2b · Program service revenue: FEES & OTHER INCOME
total $2,989,995 · related or exempt $2,945,672 · unrelated business $44,323
-
2c · Program service revenue: WARRANTY SALES
total $4,248 · unrelated business $4,248
-
3 · Investment income
total $989,440 · related or exempt $989,440
-
5 · Royalties
total $22,313 · related or exempt $22,313
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $13,995
-
2 · Grants to domestic individuals
total $4,500
-
4 · Benefits paid to or for members
total $3,237
-
5 · Compensation of officers, directors and key employees
total $486,031
-
7 · Other salaries and wages
total $1,709,547
-
8 · Pension plan contributions
total $97,554
-
9 · Other employee benefits
total $240,106
-
10 · Payroll taxes
total $159,824
-
11b · Fees: legal
total $26,985
-
11c · Fees: accounting
total $100,420
-
11g · Fees: other
total $996,478
-
12 · Advertising and promotion
total $126,312
-
13 · Office expenses
total $440,932
-
14 · Information technology
total $302,380
-
16 · Occupancy
total $267,009
-
19 · Conferences, conventions and meetings
total $71,204
-
22 · Depreciation, depletion and amortization
total $212,273
-
23 · Insurance
total $61,578
-
24a · Other expenses: MEMBER DIVIDENDS
total $1,088,396
-
24b · Other expenses: LOAN SERVICING
total $771,923
-
24c · Other expenses: PROVISION FOR LOAN LOSS
total $420,225
-
24d · Other expenses: ASSOCIATION/CHAPTER EXP
total $34,714
-
24e · All other expenses
total $33,899
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $2,846,884 · end of year $2,592,743
-
2 · Savings and temporary cash investments
beginning of year $30,964,762 · end of year $26,572,559
-
7 · Other notes and loans receivable
beginning of year $146,728,463 · end of year $151,039,420
-
9 · Prepaid expenses and deferred charges
beginning of year $2,967,479 · end of year $3,348,049
-
10a · Land, buildings and equipment: cost or other basis
$8,488,924
-
10b · Land, buildings and equipment: accumulated depreciation
$3,804,000
-
10c · Land, buildings and equipment, net
beginning of year $4,712,358 · end of year $4,684,924
-
12 · Investments: other securities
beginning of year $3,246,887 · end of year $3,361,816
-
15 · Other assets
beginning of year $3,475,367 · end of year $3,641,255
-
17 · Accounts payable and accrued expenses
beginning of year $1,751,511 · end of year $2,365,736
-
19 · Deferred revenue
beginning of year $52,087 · end of year $14,731
-
25 · Other liabilities
beginning of year $176,773,008 · end of year $173,226,411
-
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 $16,365,594 · end of year $19,633,888
Mission and programs · 2023
Mission
MIDWEST MEMBERS CREDIT UNION WILL BECOME THE AREA'S FULL SERVICE CREDIT UNION OF CHOICE BY PROVIDING CONVENIENT MEMBER ACCESS TO A WIDE RANGE OF FINANCIAL SERVICES.
-
PROVIDES FINANCIAL AND FINANCIALLY RELATED SERVICES TO 19,978 MEMBERS.
-
PROVIDES A SOURCE OF CREDIT TO MEMBERS AT A FAIR AND REASONABLE RATE OF INTEREST. AS OF DECEMBER 31, 2023, LOANS OUTSTANDING TOTALED $151,741,850.
-
PAID DIVIDENDS ON MEMBER DEPOSITS TOTALING $1,088,396 FOR THE YEAR.
As filed on the 2023 return.
Listed in Part VII
-
GERARD JACQUIN
CHAIRMAN
- Total calculated
- $165
- From this org
- $0
- From related orgs
- $0
- Other
- $165
- Hours/week
- 3.5
-
RICHARD BARTOSIAK
VICE CHAIRMAN
- Total calculated
- $165
- From this org
- $0
- From related orgs
- $0
- Other
- $165
- Hours/week
- 3.5
-
DONALD KLOTZ
TREASURER
- Total calculated
- $165
- From this org
- $0
- From related orgs
- $0
- Other
- $165
- Hours/week
- 3.5
-
RANDY DUNCAN
SECRETARY
- Total calculated
- $165
- From this org
- $0
- From related orgs
- $0
- Other
- $165
- Hours/week
- 3.5
-
MARK SCHOENLEBER
DIRECTOR
- Total calculated
- $165
- From this org
- $0
- From related orgs
- $0
- Other
- $165
- Hours/week
- 3.5
-
BRIAN NOTTROTT
DIRECTOR
- Total calculated
- $165
- From this org
- $0
- From related orgs
- $0
- Other
- $165
- Hours/week
- 3.5
-
WILLIAM DUSENBERRY
DIRECTOR
- Total calculated
- $165
- From this org
- $0
- From related orgs
- $0
- Other
- $165
- Hours/week
- 3.5
-
LOUIS BICANIC III
PRESIDENT/CEO
- Total calculated
- $261,645
- From this org
- $169,046
- From related orgs
- $0
- Other
- $92,599
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $168,119
- Bonus
- $0
- Other
- $927
- Deferred
- $76,012
- Nontaxable benefits
- $16,587
- Filer's total
- $261,645
-
TIMOTHY CARTER
COO
- Total calculated
- $112,542
- From this org
- $102,881
- From related orgs
- $0
- Other
- $9,661
- Hours/week
- 40
-
SAMANTHA PRITCHETT
CFO
- Total calculated
- $110,689
- From this org
- $101,270
- From related orgs
- $0
- Other
- $9,419
- 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 · Compensation survey or study
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
The filer's explanations (Part III)
- PART I, LINE 3
- THE COMPEASE SALARY ADMINISTRATION PROGRAM FROM HR PERFORMANCE SOLUTIONS IS USED TO DETERMINE ALL EMPLOYEE COMPENSATION, INCLUDING THE PRESIDENT'S.
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
- 11 April 2024
- IRS schema version
- 2023v5.0
- Source object
- 202401029349301320
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