Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: INTEREST ON LOANS

  total $177,057,696 · related or exempt $177,057,696

• 2b · Program service revenue: FEE INCOME

  total $28,075,039 · related or exempt $27,747,297 · unrelated business $327,742

• 2c · Program service revenue: INTERCHANGE INCOME

  total $21,373,851 · related or exempt $21,373,851

• 2d · Program service revenue: INSURANCE & OTHER OPERATING INCOM

  total $10,326,433 · related or exempt $10,161,793 · unrelated business $164,640

• 2e · Program service revenue: NON-OPERATING INCOME

  total $852,242 · related or exempt $852,242

• 3 · Investment income

  total $8,172,295 · excluded $8,172,295

• 7a · Gross sales of assets other than inventory

  other assets $996,813

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

  other assets $977,297

• 7c · Gain or loss

  other assets $19,516

• 7d · Net gain or loss

  total $19,516 · excluded $19,516

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $4,447,143

• 7 · Other salaries and wages

  total $33,615,316

• 8 · Pension plan contributions

  total $2,977,394

• 9 · Other employee benefits

  total $6,661,463

• 10 · Payroll taxes

  total $2,820,949

• 11b · Fees: legal

  total $821,852

• 11c · Fees: accounting

  total $251,109

• 11g · Fees: other

  total $5,406,597

• 12 · Advertising and promotion

  total $3,167,932

• 13 · Office expenses

  total $5,836,273

• 14 · Information technology

  total $9,427,580

• 16 · Occupancy

  total $5,241,213

• 17 · Travel

  total $422,596

• 22 · Depreciation, depletion and amortization

  total $7,374,679

• 23 · Insurance

  total $521,033

• 24a · Other expenses: DIVIDENDS PAID TO MEMBE

  total $39,289,176

• 24b · Other expenses: PROVISION FOR LOAN LOSS

  total $26,333,991

• 24c · Other expenses: DEBIT CARD EXPENSES

  total $12,968,909

• 24d · Other expenses: LOAN EXPENSES

  total $5,433,992

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $678,347,276 · end of year $396,902,073

• 7 · Other notes and loans receivable

  beginning of year $3,196,435,009 · end of year $3,548,745,441

• 9 · Prepaid expenses and deferred charges

  beginning of year $2,380,224 · end of year $3,285,124

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

  $127,482,648

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

  $56,827,250

• 10c · Land, buildings and equipment, net

  beginning of year $73,844,977 · end of year $70,655,398

• 12 · Investments: other securities

  beginning of year $2,152,344 · end of year $2,511,512

• 15 · Other assets

  beginning of year $89,036,198 · end of year $82,575,642

• 17 · Accounts payable and accrued expenses

  beginning of year $36,217,214 · end of year $23,717,475

• 25 · Other liabilities

  beginning of year $3,575,688,136 · end of year $3,566,071,733

• 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 $430,290,678 · end of year $514,885,982

The filer's explanations (Part III)

PART I, LINE 4B

THE FOLLOWING INDIVIDUALS PARTICIPATED IN A NON-QUALIFIED RETIREMENT PLAN IN 2022 SPONSORED BY RALLY CREDIT UNION. THE AMOUNTS INCLUDED REPRESENT THE TOTAL EMPLOYER CONTRIBUTIONS INTO THE PLAN ON BEHALF OF THE PARTICIPANTS. THESE CONTRIBUTIONS AMOUNTS ARE INCLUDED IN DEFERRED COMPENSATION IN PART VII AND SCHEDULE J: ASHLEY SMITH - $26,684 DANA SISK - $33,536 SHANNON SRP - $34,428 DANIEL DIBBLE - $35,316 ROMAN ESCOBAR - $34,616 CLARE FOWLER - $13,263 GERRY MORROW - $237,871 GERALD PENNINGTON - $14,540 CYNTHIA RAMOS - $28,578 CARRIE HUFF - $28,874 VIRGINIA WHITHAM - $28,700 THERE WERE NO DISTRIBUTIONS OR VESTING IN THE PLAN BY ANY PARTICIPANTS IN 2022.