Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: Interest Income

  total $21,842,109 · related or exempt $21,842,109

• 2b · Program service revenue: Fee & Service Income

  total $3,578,261 · related or exempt $3,250,435 · unrelated business $327,826

• 3 · Investment income

  total $3,202,759 · excluded $3,202,759

• 7a · Gross sales of assets other than inventory

  securities $660,658 · other assets $81,058

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

  securities $640,540 · other assets $0

• 7c · Gain or loss

  securities $20,118 · other assets $81,058

• 7d · Net gain or loss

  total $101,176 · excluded $101,176

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $87,545

• 4 · Benefits paid to or for members

  total $7,809,610

• 5 · Compensation of officers, directors and key employees

  total $1,298,022

• 7 · Other salaries and wages

  total $5,238,693

• 8 · Pension plan contributions

  total $658,161

• 9 · Other employee benefits

  total $951,318

• 10 · Payroll taxes

  total $436,311

• 11b · Fees: legal

  total $73,000

• 11c · Fees: accounting

  total $184,668

• 11g · Fees: other

  total $351,228

• 12 · Advertising and promotion

  total $571,352

• 13 · Office expenses

  total $96,209

• 14 · Information technology

  total $1,556,753

• 16 · Occupancy

  total $637,199

• 17 · Travel

  total $29,337

• 19 · Conferences, conventions and meetings

  total $143,945

• 20 · Interest

  total $3,135,283

• 22 · Depreciation, depletion and amortization

  total $885,002

• 23 · Insurance

  total $116,097

• 24a · Other expenses: Operations Expense

  total $1,872,303

• 24b · Other expenses: Loan Servicing Expenses

  total $1,063,095

• 24c · Other expenses: Provision for Loan Loss

  total $942,273

• 24d · Other expenses: UBI Tax

  total $33,520

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $4,695,247 · end of year $20,394,586

• 2 · Savings and temporary cash investments

  beginning of year $15,194,545 · end of year $10,432,390

• 7 · Other notes and loans receivable

  beginning of year $429,407,153 · end of year $439,481,197

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

  $24,601,227

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

  $15,427,355

• 10c · Land, buildings and equipment, net

  beginning of year $9,910,291 · end of year $9,173,872

• 11 · Investments: publicly traded securities

  beginning of year $113,288,348 · end of year $101,435,838

• 15 · Other assets

  beginning of year $21,772,989 · end of year $18,521,690

• 17 · Accounts payable and accrued expenses

  beginning of year $5,821,967 · end of year $4,925,375

• 23 · Secured mortgages and notes payable

  beginning of year $66,999,687 · end of year $70,799,687

• 25 · Other liabilities

  beginning of year $474,608,712 · end of year $475,412,232

• 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 $46,838,207 · end of year $48,302,279

The filer's explanations (Part III)

Part I, Line 4b

William Zafirson, Nancy Nadeau and Suzanne Beaubien participated in the 457f plan. William Zafirson received $30,000 and Suzanne Beaubien received $25,000.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• Bellwether Insurance Services LLC

  Financial Services · NH · income $0 · assets $23,147

  Directly controlled by Bellwether Community Credit Union