Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: Interest on loans to members

  total $23,695,945 · related or exempt $23,695,945 · unrelated business $0 · excluded $0

• 2b · Program service revenue: Fee income on services provided to members

  total $8,332,179 · related or exempt $8,332,179 · unrelated business $0 · excluded $0

• 2f · All other program service revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 3 · Investment income

  total $3,665,427 · related or exempt $0 · unrelated business $0 · excluded $3,665,427

• 4 · Income from investment of tax-exempt bond proceeds

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 5 · Royalties

  total $2,309 · related or exempt $0 · unrelated business $0 · excluded $2,309

• 6a · Gross rents

  real property $110,177 · personal property $0

• 6b · Less rental expenses

  real property $43,435 · personal property $0

• 6c · Rental income or loss

  real property $66,742 · personal property $0

• 6d · Net rental income or loss

  total $66,742 · related or exempt $0 · unrelated business $0 · excluded $66,742

• 7a · Gross sales of assets other than inventory

  securities $12,263,087 · other assets $400

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

  securities $12,874,080 · other assets $0

• 7c · Gain or loss

  securities -$610,993 · other assets $400

• 7d · Net gain or loss

  total -$610,593 · related or exempt $0 · unrelated business $0 · excluded -$610,593

• 11a · Other revenue: Gain/Loss on Mortgage Servicing Rights

  total -$62,032 · related or exempt $0 · unrelated business $0 · excluded -$62,032

• 11d · All other revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 11e · Other revenue, total

  -$62,032

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 $943,953

• 6 · Compensation of disqualified persons

  total $0

• 7 · Other salaries and wages

  total $8,389,015

• 8 · Pension plan contributions

  total $666,035

• 9 · Other employee benefits

  total $804,706

• 10 · Payroll taxes

  total $700,862

• 11a · Fees: management

  total $9,431

• 11b · Fees: legal

  total $60,423

• 11c · Fees: accounting

  total $190,000

• 11d · Fees: lobbying

  total $0

• 11e · Fees: professional fundraising services

  total $0

• 11f · Fees: investment management

  total $0

• 11g · Fees: other

  total $82,669

• 12 · Advertising and promotion

  total $513,130

• 13 · Office expenses

  total $344,533

• 14 · Information technology

  total $3,003,068

• 15 · Royalties

  total $0

• 16 · Occupancy

  total $518,262

• 17 · Travel

  total $28,009

• 18 · Travel or entertainment for public officials

  total $0

• 19 · Conferences, conventions and meetings

  total $230,661

• 20 · Interest

  total $5,775,472

• 21 · Payments to affiliates

  total $0

• 22 · Depreciation, depletion and amortization

  total $408,024

• 23 · Insurance

  total $155,629

• 24a · Other expenses: Loan Servicing Expense

  total $2,084,158

• 24b · Other expenses: Provision for Loan Loss

  total $1,345,611

• 24c · Other expenses: Member Service Expense

  total $1,275,981

• 24d · Other expenses: Bank Charges

  total $426,434

• 24e · All other expenses

  total $187,638

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $2,111,825 · end of year $2,867,165

• 2 · Savings and temporary cash investments

  beginning of year $24,453,044 · end of year $55,166,678

• 3 · Pledges and grants receivable

  beginning of year $0 · end of year $0

• 4 · Accounts receivable

  beginning of year $490,531,677 · end of year $544,531,196

• 5 · Loans and receivables from officers and key people

  beginning of year $1,066,562 · end of year $1,090,577

• 6 · Loans and receivables from disqualified persons

  beginning of year $0 · end of year $0

• 7 · Other notes and loans receivable

  end of year $0

• 8 · Inventories for sale or use

  end of year $0

• 9 · Prepaid expenses and deferred charges

  beginning of year $267,522 · end of year $293,727

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

  $20,663,767

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

  $7,710,925

• 10c · Land, buildings and equipment, net

  beginning of year $13,335,053 · end of year $12,952,842

• 11 · Investments: publicly traded securities

  beginning of year $180,568,689 · end of year $153,568,602

• 12 · Investments: other securities

  end of year $0

• 13 · Investments: program-related

  end of year $0

• 14 · Intangible assets

  end of year $0

• 15 · Other assets

  beginning of year $9,018,327 · end of year $10,015,406

• 17 · Accounts payable and accrued expenses

  beginning of year $578,032,162 · end of year $635,436,445

• 21 · Escrow or custodial account liability

  beginning of year $358,194 · end of year $168,452

• 23 · Secured mortgages and notes payable

  beginning of year $54,500,000 · end of year $70,500,000

• 25 · Other liabilities

  beginning of year $378,167 · end of year $534,954

• 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 $8,537,005 · end of year $8,537,005

• 31 · Retained earnings, endowment or other funds

  beginning of year $79,547,171 · end of year $65,309,337

The filer's explanations (Part III)

Schedule J, Part I, Line 3

Compensation is reviewed annually by the Board of Directors.