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Nonprofiteer
← PARK SIDE FINANCIAL CREDIT UNION

Form 990 for tax year 2022

Filed by PARK SIDE FINANCIAL CREDIT UNION.

Totals

Total revenue
$17,656,460
Total expenses
$15,745,303
Contributions and grants received
$0
Grants paid
$57,413
Program service revenue
$16,948,930
Investment income
$662,590
Other revenue
$44,940
Total assets, end of year
$423,363,479
Total liabilities, end of year
$394,632,071
Net assets or fund balances, end of year
$28,731,408
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 $12,689,505 · related or exempt $12,689,505

  • 2b · Program service revenue: FEES AND CHARGES

    total $4,259,425 · related or exempt $4,238,338 · unrelated business $21,087

  • 3 · Investment income

    total $650,885 · excluded $650,885

  • 6a · Gross rents

    real property $44,940

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $44,940

  • 6d · Net rental income or loss

    total $44,940 · excluded $44,940

  • 7a · Gross sales of assets other than inventory

    securities $4,241,638 · other assets $34,313

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

    securities $4,235,204 · other assets $29,042

  • 7c · Gain or loss

    securities $6,434 · other assets $5,271

  • 7d · Net gain or loss

    total $11,705 · excluded $11,705

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $57,413

  • 5 · Compensation of officers, directors and key employees

    total $888,565

  • 7 · Other salaries and wages

    total $4,764,057

  • 8 · Pension plan contributions

    total $280,799

  • 9 · Other employee benefits

    total $719,585

  • 10 · Payroll taxes

    total $384,249

  • 11b · Fees: legal

    total $5,129

  • 11c · Fees: accounting

    total $87,248

  • 11g · Fees: other

    total $1,266,125

  • 12 · Advertising and promotion

    total $543,885

  • 13 · Office expenses

    total $832,200

  • 16 · Occupancy

    total $420,229

  • 19 · Conferences, conventions and meetings

    total $28,141

  • 20 · Interest

    total $420,202

  • 22 · Depreciation, depletion and amortization

    total $611,585

  • 23 · Insurance

    total $102,220

  • 24a · Other expenses: CREDIT CARD & TRANSACTI

    total $1,269,094

  • 24b · Other expenses: DIVIDENDS ON MEMBER SHA

    total $1,259,624

  • 24c · Other expenses: ATM EXPENSE

    total $719,337

  • 24d · Other expenses: LOAN SERVICING EXPENSE

    total $622,503

  • 24e · All other expenses

    total $463,113

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,980,950 · end of year $7,888,760

  • 2 · Savings and temporary cash investments

    beginning of year $29,892,622 · end of year $7,933,962

  • 4 · Accounts receivable

    beginning of year $716,598 · end of year $906,827

  • 5 · Loans and receivables from officers and key people

    beginning of year $2,775,280 · end of year $2,823,847

  • 7 · Other notes and loans receivable

    beginning of year $278,462,269 · end of year $328,325,962

  • 9 · Prepaid expenses and deferred charges

    beginning of year $790,111 · end of year $692,010

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

    $17,632,874

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

    $5,634,730

  • 10c · Land, buildings and equipment, net

    beginning of year $10,864,814 · end of year $11,998,144

  • 11 · Investments: publicly traded securities

    beginning of year $29,502,364 · end of year $36,014,303

  • 12 · Investments: other securities

    beginning of year $15,522,079 · end of year $18,159,091

  • 14 · Intangible assets

    beginning of year $24,964 · end of year $7,810

  • 15 · Other assets

    beginning of year $6,924,632 · end of year $8,612,763

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,498,506 · end of year $1,535,713

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $25,000,000

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $3,041,250

  • 25 · Other liabilities

    beginning of year $350,496,204 · end of year $365,055,108

  • 29 · Capital stock, trust principal or current funds

    beginning of year $4,396,347 · end of year $4,396,347

  • 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 $25,065,626 · end of year $24,335,061

Mission and programs · 2022

Mission

WE WILL BE THE BEST PLACE FOR THE PEOPLE OF WESTERN MONTANA TO GET A LOAN.

Activities or mission (Part I)

PARK SIDE IS A NOT FOR PROFIT FINANCIAL COOPERATIVE THAT PROVIDES FINANCIAL SERVICES TO ITS MEMBERS.

  • PARK SIDE FINANCIAL CREDIT UNION IS A MEMBER-OWNED CO-OPERATIVE OFFERING A DIVERSE VARIETY OF FINANCIAL SERVICES TO ITS MEMBERS. ITS PRIMARY FINANCIAL SERVICES ARE PROVIDING REAL ESTATE LOANS, CONSUMER LOANS, CHECKING ACCOUNTS, SAVINGS ACCOUNTS, AND TIME DEPOSITS TO ITS MEMBERS.AT DECEMBER 31, 2022 PARK SIDE FINANCIAL CREDIT UNION HAS 49,620 TRANSACTIONAL DEPOSIT ACCOUNTS WITH A VALUE OF $270,008,505.AT DECEMBER 31, 2022 PARK SIDE FINANCIAL CREDIT UNION HAS 1,983 TIME DEPOSIT ACCOUNTS WITH A VALUE OF $82,093,255.AT DECEMBER 31, 2022 PARK SIDE FINANCIAL CREDIT UNION HAS 1,450 REAL ESTATE LOANS WITH A VALUE OF $185,221,797.

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Carl Thomas

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Rick Flink

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Terry Thorpe

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Dick Green

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ron Jarosch

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Diana Lamers

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Rich Pederson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Daria Perez

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dave Sutherland

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jeremy Presta

    CEO

    Total calculated
    $338,951
    From this org
    $299,563
    From related orgs
    $0
    Other
    $39,388
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $265,717
    Bonus
    $25,166
    Other
    $8,680
    Deferred
    $17,783
    Nontaxable benefits
    $21,605
    Filer's total
    $338,951

  • Troy Brackey

    CFO

    Total calculated
    $308,935
    From this org
    $280,896
    From related orgs
    $0
    Other
    $28,039
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $178,230
    Bonus
    $102,666
    Other
    $0
    Deferred
    $14,803
    Nontaxable benefits
    $13,236
    Filer's total
    $308,935

  • Maureen Bryan

    SENIOR VP OF HR

    Total calculated
    $240,680
    From this org
    $220,344
    From related orgs
    $0
    Other
    $20,336
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $141,102
    Bonus
    $77,240
    Other
    $2,002
    Deferred
    $0
    Nontaxable benefits
    $20,336
    Filer's total
    $240,680

  • Josh Kroll

    VP OF MARKETING

    Total calculated
    $157,917
    From this org
    $126,060
    From related orgs
    $0
    Other
    $31,857
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $110,157
    Bonus
    $15,642
    Other
    $261
    Deferred
    $9,307
    Nontaxable benefits
    $22,550
    Filer's total
    $157,917

  • Carol Beniger

    VP OF LENDING

    Total calculated
    $160,614
    From this org
    $129,824
    From related orgs
    $0
    Other
    $30,790
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $114,396
    Bonus
    $15,428
    Other
    $0
    Deferred
    $9,680
    Nontaxable benefits
    $21,110
    Filer's total
    $160,614

  • Teresa Short

    VP OF IT

    Total calculated
    $148,330
    From this org
    $128,653
    From related orgs
    $0
    Other
    $19,677
    Hours/week
    40

  • Alisa McConkey

    VP OF OPERATIONS

    Total calculated
    $146,351
    From this org
    $114,162
    From related orgs
    $0
    Other
    $32,189
    Hours/week
    40

  • Laura Scoville

    VP OF BACK OFFICE OPS.

    Total calculated
    $154,244
    From this org
    $124,649
    From related orgs
    $0
    Other
    $29,595
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $103,663
    Bonus
    $14,931
    Other
    $6,055
    Deferred
    $9,377
    Nontaxable benefits
    $20,218
    Filer's total
    $154,244

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 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 4B
JEREMY PRESTA PARTICIPATES IN A SPLIT DOLLAR LIFE INSURANCE AGREEMENT WITH THE ORGANIZATION. JEREMY DID NOT RECEIVE ANY DISTRIBUTIONS FROM THIS PLAN DURING 2022.

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
2022
Filed
13 June 2023
IRS schema version
2022v5.0
Source object
202331649349301123

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