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Nonprofiteer
← SHARE ADVANTAGE CREDIT UINON

Form 990 for tax year 2023

Filed by SHARE ADVANTAGE CREDIT UINON.

Totals

Total revenue
$2,595,415
Total expenses
$2,018,150
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$2,027,561
Investment income
$548,970
Other revenue
$18,884
Total assets, end of year
$54,824,075
Total liabilities, end of year
$49,655,947
Net assets or fund balances, end of year
$5,168,128
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% 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.

  • 2a · Program service revenue: INTEREST INCOME

    total $1,670,233 · related or exempt $1,670,233

  • 2b · Program service revenue: SERVICE CHARGES & FEE INCOME

    total $357,328 · related or exempt $357,328

  • 3 · Investment income

    total $599,376 · excluded $599,376

  • 6a · Gross rents

    real property $3,240

  • 6c · Rental income or loss

    real property $3,240

  • 6d · Net rental income or loss

    total $3,240 · excluded $3,240

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

    securities $106 · other assets $50,300

  • 7c · Gain or loss

    securities -$106 · other assets -$50,300

  • 7d · Net gain or loss

    total -$50,406 · related or exempt -$106 · excluded -$50,300

  • 11a · Other revenue: STABILIZATION FUNDS RECOVERY

    total $15,503 · related or exempt $15,503

  • 11b · Other revenue: MERCHANDISE SALES

    total $141 · related or exempt $141

  • 11e · Other revenue, total

    $15,644

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $127,128

  • 5 · Compensation of officers, directors and key employees

    total $171,487

  • 7 · Other salaries and wages

    total $536,518

  • 8 · Pension plan contributions

    total $38,511

  • 9 · Other employee benefits

    total $44,753

  • 10 · Payroll taxes

    total $43,958

  • 11c · Fees: accounting

    total $140,184

  • 11g · Fees: other

    total $7,438

  • 12 · Advertising and promotion

    total $44,891

  • 13 · Office expenses

    total $142,025

  • 14 · Information technology

    total $172,321

  • 16 · Occupancy

    total $71,574

  • 17 · Travel

    total $3,691

  • 19 · Conferences, conventions and meetings

    total $1,494

  • 20 · Interest

    total $194

  • 22 · Depreciation, depletion and amortization

    total $51,938

  • 23 · Insurance

    total $18,845

  • 24a · Other expenses: ATM/DEBIT CARD EXP

    total $194,681

  • 24b · Other expenses: PROV/LOAN LOSSES-CONSUMER

    total $62,000

  • 24c · Other expenses: COMPUTER MAINTENANCE COST

    total $33,210

  • 24d · Other expenses: VISA CC PROGRAM EXP

    total $26,038

  • 24e · All other expenses

    total $85,271

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $9,521,948 · end of year $4,469,011

  • 2 · Savings and temporary cash investments

    beginning of year $10,518,623 · end of year $7,944,185

  • 7 · Other notes and loans receivable

    beginning of year $33,861,834 · end of year $35,744,759

  • 9 · Prepaid expenses and deferred charges

    beginning of year $136,208 · end of year $100,819

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

    $1,480,002

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

    $639,159

  • 10c · Land, buildings and equipment, net

    beginning of year $910,637 · end of year $840,843

  • 11 · Investments: publicly traded securities

    beginning of year $5,555,606 · end of year $4,736,014

  • 12 · Investments: other securities

    beginning of year $883,531 · end of year $867,279

  • 15 · Other assets

    beginning of year $99,871 · end of year $121,165

  • 17 · Accounts payable and accrued expenses

    beginning of year $716,359 · end of year $1,339,712

  • 25 · Other liabilities

    beginning of year $56,323,643 · end of year $48,316,235

  • 31 · Retained earnings, endowment or other funds

    beginning of year $4,448,256 · end of year $5,168,128

Mission and programs · 2023

Mission

CREDIT UNION SECTION 501(C)(14), TO SERVE THE MEMBERS FINANCIAL NEEDS, TODAY, TOMORROW AND IN THE FUTURE.

  • SERVED THE FINANCIAL NEEDS FOR THE 3,636 MEMBERS IN DULUTH, HERMANTOWN AND PROCTOR. - DIVIDENDS & INTEREST - ANNUAL MEETING

  • PRINTING & PROMOTION - NEWSLETTER PUBLICATIONS - INFORMATIONAL BROCHURES

As filed on the 2023 return.

Listed in Part VII

  • Steven M Ruce

    CHAIR

    Total calculated
    $825
    From this org
    $825
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Mike Marturano

    VICE CHAIR

    Total calculated
    $600
    From this org
    $600
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Floranne Nyquist

    SECRETARY

    Total calculated
    $675
    From this org
    $675
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Kent Larson

    DIRECTOR

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

  • Richard Erlander

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Marc Peterson

    DIRECTOR

    Total calculated
    $900
    From this org
    $900
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Ruth Martin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kellee Lueck-Schafer

    CEO/PRESIDEN

    Total calculated
    $156,676
    From this org
    $125,154
    From related orgs
    $0
    Other
    $31,522
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $125,154
    Bonus
    not reported
    Other
    not reported
    Deferred
    $8,501
    Nontaxable benefits
    $23,021
    Filer's total
    $156,676

  • Joni Calverly

    CFO

    Total calculated
    $14,811
    From this org
    $14,811
    From related orgs
    $0
    Other
    $0
    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
  • 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
2023
Filed
15 November 2024
IRS schema version
2023v5.0
Source object
202443209349321564

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