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Nonprofiteer
← NSP CREDIT UNION

Form 990 for tax year 2023

Filed by NSP CREDIT UNION.

Totals

Total revenue
$2,042,492
Total expenses
$2,159,122
Contributions and grants received
$0
Grants paid
$1,625
Program service revenue
$1,827,256
Investment income
$209,751
Other revenue
$5,485
Total assets, end of year
$42,668,678
Total liabilities, end of year
$35,347,175
Net assets or fund balances, end of year
$7,321,503
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% 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 LOANS

    total $1,374,148 · related or exempt $1,374,148

  • 2b · Program service revenue: MEMBER FEE INCOME

    total $233,134 · related or exempt $233,134

  • 2c · Program service revenue: OTHER MEMBER RELATED REVENUE

    total $219,489 · related or exempt $219,489

  • 2d · Program service revenue: FEE & INSURANCE REVENUE

    total $485 · unrelated business $485

  • 3 · Investment income

    total $200,400 · excluded $200,400

  • 5 · Royalties

    total $5,485 · excluded $5,485

  • 7a · Gross sales of assets other than inventory

    other assets $9,351

  • 7c · Gain or loss

    other assets $9,351

  • 7d · Net gain or loss

    total $9,351 · related or exempt $9,351

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,625

  • 5 · Compensation of officers, directors and key employees

    total $122,650

  • 7 · Other salaries and wages

    total $369,074

  • 8 · Pension plan contributions

    total $58,948

  • 9 · Other employee benefits

    total $75,124

  • 10 · Payroll taxes

    total $37,324

  • 11b · Fees: legal

    total $3,924

  • 11c · Fees: accounting

    total $6,065

  • 11g · Fees: other

    total $105,143

  • 12 · Advertising and promotion

    total $58,721

  • 13 · Office expenses

    total $294,049

  • 14 · Information technology

    total $137,079

  • 16 · Occupancy

    total $101,575

  • 19 · Conferences, conventions and meetings

    total $3,550

  • 20 · Interest

    total $12,235

  • 22 · Depreciation, depletion and amortization

    total $110,782

  • 23 · Insurance

    total $14,413

  • 24a · Other expenses: LOAN SERVICING EXPENSE

    total $363,673

  • 24b · Other expenses: DIVIDENDS EXPENSE

    total $243,609

  • 24c · Other expenses: PROVISN LOAN LOSS

    total $39,559

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $149,263 · end of year $144,459

  • 2 · Savings and temporary cash investments

    beginning of year $3,286,834 · end of year $5,069,369

  • 4 · Accounts receivable

    beginning of year $337,133 · end of year $244,179

  • 5 · Loans and receivables from officers and key people

    beginning of year $1,704,559 · end of year $1,753,139

  • 7 · Other notes and loans receivable

    beginning of year $23,591,561 · end of year $23,194,651

  • 9 · Prepaid expenses and deferred charges

    beginning of year $331,232 · end of year $278,574

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

    $1,080,259

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

    $138,209

  • 10c · Land, buildings and equipment, net

    beginning of year $958,791 · end of year $942,050

  • 13 · Investments: program-related

    beginning of year $13,851,980 · end of year $10,151,140

  • 14 · Intangible assets

    beginning of year $446,181 · end of year $418,404

  • 15 · Other assets

    beginning of year $465,203 · end of year $472,713

  • 17 · Accounts payable and accrued expenses

    beginning of year $828,988 · end of year $912,830

  • 23 · Secured mortgages and notes payable

    beginning of year $406,270

  • 25 · Other liabilities

    beginning of year $36,632,809 · end of year $34,434,345

  • 31 · Retained earnings, endowment or other funds

    beginning of year $7,254,670 · end of year $7,321,503

Mission and programs · 2023

Mission

TO EARN OUR MEMBERS' TRUST WITH PERSONALIZED SERVICE AND INTEGRITY.

  • THE CREDIT UNION HAS VARIOUS TYPES OF DEPOSIT ACCOUNTS AVAILABLE FOR OUR MEMBERS. WE OPENED 73 NEW DEPOSIT ACCOUNTS IN 2023. AS OF 12/31/23 WE HAD 2,890 MEMBERS.

  • THE CREDIT UNION HAS SEVERAL TYPES OF LOAN PROGRAMS AVAILABLE FOR OUR MEMBERS. WE FUNDED 28,112 NEW LOANS DURING 2023. AS OF 12/31/23 WE HAD 114,346 OUTSTANDING LOANS RECEIVABLE.

As filed on the 2023 return.

Listed in Part VII

  • Charlie Yenni

    PRESIDENT/CE

    Total calculated
    $154,818
    From this org
    $117,618
    From related orgs
    $0
    Other
    $37,200
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $117,582
    Bonus
    not reported
    Other
    $36
    Deferred
    $17,342
    Nontaxable benefits
    $19,858
    Filer's total
    $154,818

  • Todd Riebe

    TREASURER

    Total calculated
    $2,020
    From this org
    $2,020
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.5

  • Alex Autio

    DIRECTOR

    Total calculated
    $893
    From this org
    $893
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.75

  • Darren Karnes

    DIRECTOR

    Total calculated
    $492
    From this org
    $492
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.4

  • Jenny Borgerson Ries

    SECRETARY

    Total calculated
    $465
    From this org
    $465
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.4

  • Christine McGinnis

    DIRECTOR

    Total calculated
    $428
    From this org
    $428
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.3

  • Brandon Cramer

    CHAIR

    Total calculated
    $384
    From this org
    $384
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.25

  • Cory Brown

    VICE CHAIR

    Total calculated
    $350
    From this org
    $350
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.25

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 · Compensation committee
  • 3 · Independent compensation consultant
  • 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

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
1 March 2024
IRS schema version
2023v4.0
Source object
202440619349300379

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