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← STATE CHARTERED CREDIT UNIONS IN NORTH CAROLINA

Form 990 for tax year 2022

Filed by STATE CHARTERED CREDIT UNIONS IN NORTH CAROLINA.

Totals

Total revenue
$7,093,444
Total expenses
$5,913,646
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$6,299,899
Investment income
$793,545
Other revenue
$0
Total assets, end of year
$124,030,891
Total liabilities, end of year
$107,238,601
Net assets or fund balances, end of year
$16,792,290
Program services expenses (Part IX)
$5,514,965
Management and general expenses
$398,681
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 93.3% 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: LOAN INTEREST

    total $3,443,690 · related or exempt $3,443,690

  • 2b · Program service revenue: FEE INCOME

    total $1,520,454 · related or exempt $1,520,454

  • 2c · Program service revenue: OTHER INCOME

    total $1,335,755 · related or exempt $1,335,755

  • 3 · Investment income

    total $793,545 · related or exempt $793,545

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $3,040,262 · program services $2,736,236 · management and general $304,026

  • 12 · Advertising and promotion

    total $337,349 · program services $337,349

  • 13 · Office expenses

    total $957,440 · program services $957,440

  • 16 · Occupancy

    total $521,527 · program services $521,527

  • 19 · Conferences, conventions and meetings

    total $43,323 · program services $43,323

  • 20 · Interest

    total $238,315 · program services $238,315

  • 24a · Other expenses: PROFORMA DEBT EXPENSE

    total $1,102,313 · program services $1,102,313

  • 24b · Other expenses: LOAN SERVICING EXP

    total $1,042,478 · program services $1,042,478

  • 24c · Other expenses: PROFESSIONAL & OUTSIDE SE

    total $946,549 · program services $851,894 · management and general $94,655

  • 24d · Other expenses: PROVISION FOR LOAN LOSS

    total $156,958 · program services $156,958

  • 24e · All other expenses

    total -$2,472,868 · program services -$2,472,868

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,539,499 · end of year $2,106,766

  • 2 · Savings and temporary cash investments

    beginning of year $22,147,874 · end of year $10,904,950

  • 4 · Accounts receivable

    end of year $44,220

  • 7 · Other notes and loans receivable

    beginning of year $67,823,787 · end of year $72,770,352

  • 9 · Prepaid expenses and deferred charges

    beginning of year $289,827 · end of year $241,334

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

    $9,478,814

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

    $4,763,425

  • 10c · Land, buildings and equipment, net

    beginning of year $4,778,171 · end of year $4,715,389

  • 13 · Investments: program-related

    beginning of year $27,191,138 · end of year $28,397,755

  • 15 · Other assets

    beginning of year $4,647,855 · end of year $4,850,125

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,182,658 · end of year $1,213,058

  • 25 · Other liabilities

    beginning of year $108,247,352 · end of year $106,025,543

  • 27 · Net assets without donor restrictions

    beginning of year $18,988,141 · end of year $16,792,290

Mission and programs · 2022

Mission

LOANS TO MEMBERS

  • DURING THE YEAR, THE CREDIT UNION SERVED ITS MEMBERS BY PROVIDING LOANS AT REASONABLE RATES. IT ALSO ACCEPTED DEPOSITS AND PAID REASONABLE RATES OF INTEREST ON THOSE DEPOSITS.

  • DURING THE YEAR, THE CREDIT UNION SERVED ITS MEMBERS BY PROVIDING LOANS AT REASONABLE RATES. IT ALSO ACCEPTED DEPOSITS AND PAID REASONABLE RATES OF INTEREST ON THOSE DEPOSITS.

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

Listed in Part VII

  • Kim Boggans

    TREASURER

    Total calculated
    $0

  • Lola Bumbarger

    SECRETARY

    Total calculated
    $0

  • Rita Ellison

    DIRECTOR

    Total calculated
    $0

  • John Geter

    VICE CHAIRMA

    Total calculated
    $0

  • Sherry Gordon

    BOARD MEMBER

    Total calculated
    $0

  • Huyla Jackson

    DIRECTOR

    Total calculated
    $0

  • Lori Kawulok

    DIRECTOR

    Total calculated
    $0

  • Phillip Kridel

    CHAIRMAN

    Total calculated
    $0

  • Roy Montague

    DIRECTOR

    Total calculated
    $0

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
2022
Filed
12 May 2023
IRS schema version
2022v5.0
Source object
202321359349312967

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