Totals
- Total revenue
- $1,055,969
- Total expenses
- $1,358,468
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $356,909
- Investment income
- $489,133
- Other revenue
- $209,927
- Total assets, end of year
- $17,556,502
- Total liabilities, end of year
- $16,290,948
- Net assets or fund balances, end of year
- $1,265,554
- 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 on Loans
total $356,909 · related or exempt $356,909
-
3 · Investment income
total $489,133 · related or exempt $489,133
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6d · Net rental income or loss
total $0
-
7d · Net gain or loss
total $0
-
8c · Net income from fundraising events
total $0
-
9c · Net income from gaming
total $0
-
10c · Net income from sales of inventory
total $0
-
11a · Other revenue: Fee Income
total $152,214 · related or exempt $152,214
-
11b · Other revenue: Other Non-Interest Income
-
11c · Other revenue: Other Operating Income
total $57,717 · related or exempt $57,717
-
11d · All other revenue
total -$4 · related or exempt -$4
-
11e · Other revenue, total
$209,927
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 $72,955
-
5 · Compensation of officers, directors and key employees
total $89,994
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $272,456
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $0
-
10 · Payroll taxes
total $0
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $0
-
11c · Fees: accounting
total $0
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $369,354
-
12 · Advertising and promotion
total $11,310
-
13 · Office expenses
total $197,594
-
14 · Information technology
total $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $84,420
-
17 · Travel
total $6,483
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $88
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $0
-
23 · Insurance
total $0
-
24a · Other expenses: Provision for Loan Loss
total $128,459
-
24b · Other expenses: Misc. Non Interest Expense
total $56,586
-
24c · Other expenses: Loan Servicing Fees
total $48,409
-
24d · Other expenses: Operating Fees
total $24,935
-
24e · All other expenses
total -$4,575
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $306,673 · end of year $424,984
-
2 · Savings and temporary cash investments
beginning of year $974,027 · end of year $987,230
-
3 · Pledges and grants receivable
end of year $0
-
4 · Accounts receivable
end of year $0
-
5 · Loans and receivables from officers and key people
beginning of year $34,465 · end of year $26,121
-
6 · Loans and receivables from disqualified persons
end of year $0
-
7 · Other notes and loans receivable
beginning of year $7,149,447 · end of year $5,632,689
-
8 · Inventories for sale or use
end of year $0
-
9 · Prepaid expenses and deferred charges
end of year $0
-
10a · Land, buildings and equipment: cost or other basis
$842,199
-
10b · Land, buildings and equipment: accumulated depreciation
$684,174
-
10c · Land, buildings and equipment, net
beginning of year $152,614 · end of year $158,025
-
11 · Investments: publicly traded securities
end of year $0
-
12 · Investments: other securities
end of year $0
-
13 · Investments: program-related
beginning of year $9,229,207 · end of year $9,669,373
-
14 · Intangible assets
end of year $0
-
15 · Other assets
beginning of year $613,529 · end of year $658,080
-
17 · Accounts payable and accrued expenses
beginning of year $104,379 · end of year $279,688
-
25 · Other liabilities
beginning of year $16,787,529 · end of year $16,011,260
-
31 · Retained earnings, endowment or other funds
beginning of year $1,568,054 · end of year $1,265,554
Mission and programs · 2024
Mission
Provided deposit and loan accounts to 3,905 members. Provided low cost source of credit and low cost financial services to our members. Provided source for member savings and checking account needs.
-
Provided deposit and loan accounts to 2,871 members. Provided low cost source of credit and low cost financial services to our members. Provided source for member savings and checking account needs.
As filed on the 2024 return.
Listed in Part VII
-
Conrad Tan
CEO
- Total calculated
- $89,994
- From this org
- $89,994
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Floyd Knox
Chairperson
- Total calculated
- $0
- Hours/week
- 1
-
Solomon Vernado
Vice Chair
- Total calculated
- $0
- Hours/week
- 1
-
Jack Wilson
Director
- Total calculated
- $0
- Hours/week
- 1
-
Alonzo Williams
Director
- Total calculated
- $0
- Hours/week
- 1
-
Dr Essie French-Preston
Director
- Total calculated
- $0
- Hours/week
- 1
-
Linda Broadus Miles
Director
- Total calculated
- $0
- Hours/week
- 1
-
Clifford Williams
Director
- Total calculated
- $0
- Hours/week
- 1
-
Delores Williams
SC Chair
- Total calculated
- $0
- Hours/week
- 1
-
Yvonne Elaine Kennett
SC Director
- Total calculated
- $0
- Hours/week
- 1
-
Shirley Stagg
SC Member
- Total calculated
- $0
- Hours/week
- 1
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.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 31 October 2025
- IRS schema version
- 2024v5.2
- Source object
- 202513049349301581
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