Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: INTEREST ON LOANS

  total $398,221,519 · related or exempt $398,221,519

• 2b · Program service revenue: FEES/CHARGES/OTHER

  total $81,162,395 · related or exempt $81,162,395

• 2c · Program service revenue: FEES/CHARGES/OTHER-NON

  total $1,228,566 · unrelated business $1,228,566

• 3 · Investment income

  total $37,319,368 · excluded $37,319,368

• 5 · Royalties

  total $563,019 · excluded $563,019

• 6a · Gross rents

  real property $43,550

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $43,550

• 6d · Net rental income or loss

  total $43,550 · excluded $43,550

• 7a · Gross sales of assets other than inventory

  other assets $38,674

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

  other assets $269,961

• 7c · Gain or loss

  other assets -$231,287

• 7d · Net gain or loss

  total -$231,287 · related or exempt -$231,287

• 11a · Other revenue: GAIN ON SALE OF LOANS

  total $12,795,152 · related or exempt $12,795,152

• 11b · Other revenue: BROKERAGE COMMISSIONS

  total $2,864,479 · related or exempt $2,864,479

• 11c · Other revenue: NON-OPERATING INCOME

  total $866,305 · related or exempt $866,305

• 11d · All other revenue

  total -$10,693 · unrelated business -$10,693

• 11e · Other revenue, total

  $16,515,243

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $1,986,219

• 2 · Grants to domestic individuals

  total $13,000

• 5 · Compensation of officers, directors and key employees

  total $11,639,748

• 7 · Other salaries and wages

  total $123,561,259

• 8 · Pension plan contributions

  total $12,244,604

• 9 · Other employee benefits

  total $20,377,907

• 10 · Payroll taxes

  total $10,591,636

• 11b · Fees: legal

  total $375,793

• 11c · Fees: accounting

  total $325,540

• 11f · Fees: investment management

  total $165,804

• 11g · Fees: other

  total $8,304,847

• 12 · Advertising and promotion

  total $13,480,295

• 13 · Office expenses

  total $16,904,811

• 14 · Information technology

  total $16,537,381

• 16 · Occupancy

  total $13,411,120

• 17 · Travel

  total $793,678

• 20 · Interest

  total $124,090,443

• 22 · Depreciation, depletion and amortization

  total $18,255,959

• 23 · Insurance

  total $916,843

• 24a · Other expenses: PROVISION FOR LOAN LOSS

  total $53,561,206

• 24b · Other expenses: DEBIT CARD SERVICES

  total $12,123,342

• 24c · Other expenses: LOAN SERVICING EXPENSE

  total $7,833,520

• 24d · Other expenses: MEMBER CHECK ORDER EXPE

  total $273,066

• 24e · All other expenses

  total $6,670,505

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $41,631,601 · end of year $40,512,308

• 2 · Savings and temporary cash investments

  beginning of year $149,528,585 · end of year $375,664,833

• 4 · Accounts receivable

  beginning of year $9,673,066 · end of year $5,325,200

• 7 · Other notes and loans receivable

  beginning of year $8,325,270,423 · end of year $8,150,268,450

• 9 · Prepaid expenses and deferred charges

  beginning of year $12,349,764 · end of year $16,527,590

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

  $403,933,763

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

  $69,892,172

• 10c · Land, buildings and equipment, net

  beginning of year $324,516,924 · end of year $334,041,591

• 11 · Investments: publicly traded securities

  beginning of year $676,099,368 · end of year $621,428,782

• 12 · Investments: other securities

  beginning of year $50,190,000 · end of year $15,672,600

• 14 · Intangible assets

  beginning of year $8,333,333 · end of year $8,000,000

• 15 · Other assets

  beginning of year $205,833,824 · end of year $225,542,329

• 17 · Accounts payable and accrued expenses

  beginning of year $148,893,835 · end of year $156,246,741

• 21 · Escrow or custodial account liability

  beginning of year $42,798,144 · end of year $42,215,400

• 23 · Secured mortgages and notes payable

  beginning of year $955,223,481 · end of year $403,248,583

• 25 · Other liabilities

  beginning of year $7,764,423,749 · end of year $8,291,473,144

• 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 $892,087,679 · end of year $899,799,815

The filer's explanations (Part III)

PART 1, LINE 1A:

BOARD MEMBERS ARE PROVIDED A TRAVEL AND TRAINING BUDGET. THESE FUNDS ARE USED AS EACH BOARD MEMBER DECIDED WHICH TRAINING TO ATTEND. SPOUSE/GUEST TRAVEL EXPENSES COME OUT OF THIS BUDGET. EACH YEAR, SPOUSE/GUEST TRAVEL IS REPORTED AS INCOME ON FORM 1099-NEC.

PART 1, LINE 4B:

THE CREDIT UNION MAINTAINS THREE DEFERRED COMPENSATION PLANS COVERING CERTAIN MEMBERS OF MANAGEMENT. DURING 2023, THE FOLLOWING BENEFITS WERE ACCRUED: CHAD M. GRAVES - 457(F): $485,000 JON A. PAUKOVICH - 457(F): $64,000 RICHARD A. SCHOLES - 457(F): $42,000 MOLLIE B. BELL - 457(F): $40,000 JENNIFER S. SUSSMAN - 457(F): $90,000

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• ENTERPRISE FIRST FINANCIAL SERVICES LLC

  INSURANCE PRODUCTS · CO · income $0 · assets $50,000

  Directly controlled by ENT CREDIT UNION

• ENT AUTO RECEIVABLES LLC

  SPECIAL PURPOSE SUBSIDIARY FOR SECURITIZATION ISSUANCE · DE · income $0 · assets $0

  Directly controlled by ENT CREDIT UNION