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Nonprofiteer
← RIVERFALL CREDIT UNION

Form 990 for tax year 2023

Filed by RIVERFALL CREDIT UNION.

Totals

Total revenue
$8,173,855
Total expenses
$7,505,001
Contributions and grants received
$0
Grants paid
$7,500
Program service revenue
$4,808,805
Investment income
$1,201,327
Other revenue
$2,163,723
Total assets, end of year
$162,354,260
Total liabilities, end of year
$147,943,691
Net assets or fund balances, end of year
$14,410,569
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: LOAN INTEREST INCOME

    total $4,808,805 · related or exempt $4,808,805

  • 3 · Investment income

    total $1,338,564 · excluded $1,338,564

  • 5 · Royalties

    total $14,427 · excluded $14,427

  • 7a · Gross sales of assets other than inventory

    other assets $401,618

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

    other assets $538,855

  • 7c · Gain or loss

    other assets -$137,237

  • 7d · Net gain or loss

    total -$137,237 · related or exempt -$137,237

  • 11a · Other revenue: ACCOUNT FEES AND CHARGES

    total $2,101,541 · related or exempt $2,101,541

  • 11b · Other revenue: OTHER MISC INCOME

    total $20,582 · related or exempt $20,582

  • 11c · Other revenue: INSURANCE FEES

    total $20,521 · related or exempt $20,521

  • 11d · All other revenue

    total $6,652 · unrelated business $6,652

  • 11e · Other revenue, total

    $2,149,296

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $7,500

  • 5 · Compensation of officers, directors and key employees

    total $344,934

  • 7 · Other salaries and wages

    total $1,433,565

  • 8 · Pension plan contributions

    total $41,547

  • 9 · Other employee benefits

    total $194,301

  • 10 · Payroll taxes

    total $148,512

  • 11b · Fees: legal

    total $16,678

  • 11c · Fees: accounting

    total $74,527

  • 12 · Advertising and promotion

    total $179,181

  • 13 · Office expenses

    total $326,988

  • 14 · Information technology

    total $762,152

  • 16 · Occupancy

    total $477,492

  • 17 · Travel

    total $62,400

  • 19 · Conferences, conventions and meetings

    total $9,719

  • 20 · Interest

    total $1,613,508

  • 22 · Depreciation, depletion and amortization

    total $329,653

  • 23 · Insurance

    total $62,896

  • 24a · Other expenses: OTHER ACCOUNT SERVICE E

    total $789,128

  • 24b · Other expenses: BAD DEBT

    total $384,494

  • 24c · Other expenses: LOAN SERVICING AND COLL

    total $203,493

  • 24d · Other expenses: DUES AND SUBSCRIPTIONS

    total $42,333

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,913,760 · end of year $1,473,092

  • 2 · Savings and temporary cash investments

    beginning of year $10,295,393 · end of year $15,836,579

  • 4 · Accounts receivable

    beginning of year $44,470 · end of year $82,278

  • 7 · Other notes and loans receivable

    beginning of year $93,456,358 · end of year $93,078,062

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,670,089 · end of year $5,407,003

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

    $9,074,481

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

    $2,300,514

  • 10c · Land, buildings and equipment, net

    beginning of year $6,881,907 · end of year $6,773,967

  • 12 · Investments: other securities

    beginning of year $40,369,262 · end of year $37,475,653

  • 15 · Other assets

    beginning of year $2,163,596 · end of year $2,227,626

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,216,096 · end of year $729,048

  • 25 · Other liabilities

    beginning of year $145,959,117 · end of year $147,214,643

  • 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 $12,619,622 · end of year $14,410,569

Mission and programs · 2023

Mission

TO PROVIDE THRIFT OPPORTUNITIES AND LOW COST LOANS TO MEMBERS.

Activities or mission (Part I)

TO PROVIDE THRIFT OPPORTUNITIES AND LOW COST LOANS TO MEMBERS

  • 13,883 MEMBERS SERVED TO PROMOTE THRIFT OPPORTUNITIES AND LOW COST LOANS.

As filed on the 2023 return.

Listed in Part VII

  • Neal Guy

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Greg Hurst

    BOARD TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Marlon Murray

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Don Kelly

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Andrea Fannin

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Nancy Terry

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jack Gibson

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Scott Ryan

    CEO

    Total calculated
    $150,268
    From this org
    $144,191
    From related orgs
    $0
    Other
    $6,077
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $144,191
    Bonus
    $0
    Other
    $0
    Deferred
    $4,307
    Nontaxable benefits
    $1,770
    Filer's total
    $150,268

  • Susan Hannah

    COO

    Total calculated
    $105,611
    From this org
    $94,440
    From related orgs
    $0
    Other
    $11,171
    Hours/week
    40

  • Kay Lackey

    VICE PRESIDENT LENDING

    Total calculated
    $89,055
    From this org
    $78,695
    From related orgs
    $0
    Other
    $10,360
    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

None.

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
27 June 2024
IRS schema version
2023v5.1
Source object
202431799349300133

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