Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: Interest income on loans

  total $214,699,851 · related or exempt $214,699,851 · unrelated business $0 · excluded $0

• 2b · Program service revenue: Fee income

  total $21,264,297 · related or exempt $21,110,437 · unrelated business $153,860 · excluded $0

• 2f · All other program service revenue

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

• 3 · Investment income

  total $37,962,999 · related or exempt $37,962,999 · 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

• 7a · Gross sales of assets other than inventory

  securities $0 · other assets -$10,673

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

  securities $0 · other assets $0

• 7c · Gain or loss

  securities $0 · other assets -$10,673

• 7d · Net gain or loss

  total -$10,673 · related or exempt -$10,673 · unrelated business $0 · excluded $0

• 11a · Other revenue: Other revenue

  total $49,560,934 · related or exempt $49,372,192 · unrelated business $188,742 · excluded $0

• 11d · All other revenue

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

• 11e · Other revenue, total

  $49,560,934

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $0

• 2 · Grants to domestic individuals

  total $0

• 3 · Grants to foreign organizations and individuals

  total $0

• 4 · Benefits paid to or for members

  total $0

• 5 · Compensation of officers, directors and key employees

  total $6,228,053

• 6 · Compensation of disqualified persons

  total $0

• 7 · Other salaries and wages

  total $31,492,898

• 8 · Pension plan contributions

  total $1,815,372

• 9 · Other employee benefits

  total $4,233,324

• 10 · Payroll taxes

  total $3,068,571

• 11a · Fees: management

  total $0

• 11b · Fees: legal

  total $111,953

• 11c · Fees: accounting

  total $71,254

• 11d · Fees: lobbying

  total $0

• 11e · Fees: professional fundraising services

  total $0

• 11f · Fees: investment management

  total $8,759

• 11g · Fees: other

  total $257,754

• 12 · Advertising and promotion

  total $5,200,039

• 13 · Office expenses

  total $16,687,161

• 14 · Information technology

  total $1,653,006

• 15 · Royalties

  total $0

• 16 · Occupancy

  total $3,868,035

• 17 · Travel

  total $142,298

• 18 · Travel or entertainment for public officials

  total $0

• 19 · Conferences, conventions and meetings

  total $121,247

• 20 · Interest

  total $106,961,158

• 21 · Payments to affiliates

  total $0

• 22 · Depreciation, depletion and amortization

  total $2,380,529

• 23 · Insurance

  total $181,287

• 24a · Other expenses: Loan Losses

  total $37,361,185

• 24b · Other expenses: Loan Servicing

  total $14,651,775

• 24c · Other expenses: State Operating Fee

  total $460,893

• 24d · Other expenses: Miscellaneous Expenses

  total $80,471

• 24e · All other expenses

  total $128,495

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $18,372,052 · end of year $20,004,943

• 2 · Savings and temporary cash investments

  beginning of year $227,607,982 · end of year $349,448,709

• 3 · Pledges and grants receivable

  end of year $0

• 4 · Accounts receivable

  beginning of year $46,850,959 · end of year $59,111,601

• 5 · Loans and receivables from officers and key people

  beginning of year $7,850,000 · end of year $7,850,000

• 6 · Loans and receivables from disqualified persons

  beginning of year $0 · end of year $0

• 7 · Other notes and loans receivable

  beginning of year $3,547,250,832 · end of year $3,813,599,485

• 8 · Inventories for sale or use

  beginning of year $0 · end of year $0

• 9 · Prepaid expenses and deferred charges

  beginning of year $2,416,429 · end of year $2,646,964

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

  $104,470,881

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

  $44,254,169

• 10c · Land, buildings and equipment, net

  beginning of year $57,567,727 · end of year $60,216,712

• 11 · Investments: publicly traded securities

  beginning of year $843,816,764 · end of year $868,787,179

• 12 · Investments: other securities

  beginning of year $15,529,219 · end of year $16,193,000

• 13 · Investments: program-related

  beginning of year $0 · end of year $0

• 14 · Intangible assets

  beginning of year $0 · end of year $2

• 15 · Other assets

  beginning of year $85,301,980 · end of year $109,896,607

• 17 · Accounts payable and accrued expenses

  beginning of year $59,639,520 · end of year $50,535,137

• 18 · Grants payable

  beginning of year $0 · end of year $0

• 19 · Deferred revenue

  beginning of year $0 · end of year $0

• 20 · Tax-exempt bond liabilities

  beginning of year $0 · end of year $0

• 21 · Escrow or custodial account liability

  beginning of year $0 · end of year $0

• 22 · Loans and payables to officers and key people

  beginning of year $0 · end of year $0

• 23 · Secured mortgages and notes payable

  beginning of year $135,000,000 · end of year $85,000,000

• 24 · Unsecured notes and loans payable

  end of year $0

• 25 · Other liabilities

  beginning of year $3,982,653,730 · end of year $4,397,582,759

• 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 $675,270,694 · end of year $774,637,306

The filer's explanations (Part III)

Schedule J, Part I, Line 3

Compease data is collected and reviewed by the compensation committee and approved by the Board

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• MEMBERS ASSET PLANNING

  C · FINANCIAL PLANNING · MI · 100% owned

  Directly controlled by GENISYS CREDIT UNION