← STATE CHARTERED CREDIT UNIONS IN LOUISIANA

Form 990 for tax year 2024

Filed by STATE CHARTERED CREDIT UNIONS IN LOUISIANA.

Totals

Total revenue: $2,783,127
Total expenses: $2,530,758
Contributions and grants received: $0
Grants paid: $0
Program service revenue: $1,587,887
Investment income: $668,275
Other revenue: $526,965
Total assets, end of year: $50,116,037
Total liabilities, end of year: $44,112,158
Net assets or fund balances, end of year: $6,003,879
Program services expenses (Part IX): $2,530,758
Management and general expenses: $0
Fundraising expenses: $0
Program service expenses (Part III): $2,530,758

Program services were 100.0% 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 LOAN

total $1,587,887 · related or exempt $1,587,887 · unrelated business $0 · excluded $0
2f · All other program service revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
3 · Investment income

total $668,275 · related or exempt $668,275 · unrelated business $0 · excluded $0
4 · Income from investment of tax-exempt bond proceeds

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
5 · Royalties

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
6c · Rental income or loss

real property $0 · personal property $0
7c · Gain or loss

securities $0 · other assets $0
11a · Other revenue: FEE INCOME

total $338,777 · related or exempt $338,777 · unrelated business $0 · excluded $0
11b · Other revenue: OTHER OPERATING INCOME

total $188,188 · related or exempt $188,188 · unrelated business $0 · excluded $0
11d · All other revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
11e · Other revenue, total

$526,965

Functional expenses

Part IX, the statement of functional expenses.

7 · Other salaries and wages

total $1,133,375 · program services $1,133,375 · management and general $0 · fundraising $0
11g · Fees: other

total $29,000 · program services $29,000 · management and general $0 · fundraising $0
16 · Occupancy

total $213,000 · program services $213,000 · management and general $0 · fundraising $0
19 · Conferences, conventions and meetings

total $83,254 · program services $83,254 · management and general $0 · fundraising $0
20 · Interest

total $161,960 · program services $161,960 · management and general $0 · fundraising $0
24a · Other expenses: OFFICE OPERATIONS

total $592,816 · program services $592,816 · management and general $0 · fundraising $0
24b · Other expenses: LOAN SERVICING EXPENSES

total $137,053 · program services $137,053 · management and general $0 · fundraising $0
24c · Other expenses: EDUCATIONAL AND PROMOTIONAL EXPENSES

total $95,300 · program services $95,300 · management and general $0 · fundraising $0
24d · Other expenses: PROVISION FOR LOAN AND LEASE LOSS

total $85,000 · program services $85,000 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $804,187 · end of year $788,351
2 · Savings and temporary cash investments

beginning of year $1,709,032 · end of year $1,147,545
3 · Pledges and grants receivable

beginning of year $0 · end of year $0
4 · Accounts receivable

beginning of year $0 · end of year $0
7 · Other notes and loans receivable

beginning of year $27,981,413 · end of year $29,616,870
10a · Land, buildings and equipment: cost or other basis

$1,050,961
10b · Land, buildings and equipment: accumulated depreciation

$615,225
10c · Land, buildings and equipment, net

beginning of year $461,979 · end of year $435,736
13 · Investments: program-related

beginning of year $17,487,539 · end of year $16,691,855
15 · Other assets

beginning of year $1,102,790 · end of year $1,435,680
17 · Accounts payable and accrued expenses

beginning of year $560,045 · end of year $682,406
25 · Other liabilities

beginning of year $43,235,385 · end of year $43,429,752
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 $5,751,510 · end of year $6,003,879

Mission and programs · 2024

Mission

To provide credit union members with financial products ( loans, credit cards, savings, certificates of deposit, checking accounts, etc) at competitive rates

Activities or mission (Part I)

Provide credit union members with competitive loan and saving opportunities

Consumer credit Lending and insured saving instruments

Expenses $2,530,758 · Revenue $2,783,127

As filed on the 2024 return.

Listed in Part VII

Michelle C Duhe

CEO

Total calculated

$177,088

From this org

$177,088

From related orgs

$0

Other

$0

Hours/week

40

Schedule J breakdown matched by us

Base

$107,370

Bonus

$13,500

Other

$0

Deferred

$56,218

Nontaxable benefits

$0

Filer's total

$177,088
Louis Adams

Associate Director

Total calculated

$0

Hours/week

1
Joseph Battaglia

Chairperson

Total calculated

$0

Hours/week

1
Joseph Lopinto

Vice Chairperson

Total calculated

$0

Hours/week

1
Kristy Adam

Board Member

Total calculated

$0

Hours/week

1
Dennis Brouphy

Board Member

Total calculated

$0

Hours/week

1
Sidney A Parfait

Board Member

Total calculated

$0

Hours/week

1
Micheael L Shillington

Board Member

Total calculated

$0

Hours/week

1
Terry M Kennard

Board Member

Total calculated

$0

Hours/week

1
Charles W Candilora

Supervisory Committee

Total calculated

$0

Hours/week

1
Anthony J Ruda

Supervisory Committee

Total calculated

$0

Hours/week

1
Gail Snakenberg

Supervisory Committee

Total calculated

$0

Hours/week

1
Charles C Holdan

Director Emeritus

Total calculated

$0

Hours/week

1
ernest J Partfait

Associate Board Member

Total calculated

$0

Hours/week

1
Jennifer Brehm

Associate Director

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. 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 · 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

The filer's explanations (Part III)

Schedule J, Part I, Line 3: BOD evaluates CEO's bonus and 457B retirement compensation

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: 2024
Filed: 26 May 2025
IRS schema version: 2024v5.0
Source object: 202531009349301623

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.