Skip to content
Nonprofiteer
← GREATER COMMUNITY CREDIT UNION

Form 990 for tax year 2023

Filed by GREATER COMMUNITY CREDIT UNION.

Totals

Total revenue
$12,614,357
Total expenses
$7,568,420
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$8,621,378
Investment income
$3,973,954
Other revenue
$19,025
Total assets, end of year
$261,726,020
Total liabilities, end of year
$212,155,599
Net assets or fund balances, end of year
$49,570,421
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: LOAN INTEREST

    total $7,796,951 · related or exempt $7,796,951

  • 2b · Program service revenue: DRAFT/OVERDRAFT RETURN FEES

    total $487,263 · related or exempt $487,263

  • 2c · Program service revenue: SAFE DEPOSIT BOX/LATE FEES

    total $150,372 · related or exempt $150,372

  • 2d · Program service revenue: MISCELLANEOUS

    total $107,215 · related or exempt $107,215

  • 2e · Program service revenue: DEBIT CARD INTERCHANGE/MISC.

    total $79,577 · related or exempt $79,577

  • 3 · Investment income

    total $3,974,454 · excluded $3,974,454

  • 5 · Royalties

    total $15,245 · excluded $15,245

  • 6a · Gross rents

    real property $4,200

  • 6b · Less rental expenses

    real property $4,200

  • 7a · Gross sales of assets other than inventory

    other assets $7,500

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

    other assets $8,000

  • 7c · Gain or loss

    other assets -$500

  • 7d · Net gain or loss

    total -$500 · related or exempt -$500

  • 11a · Other revenue: SURCHARGE ATM - NONMEMBER

    total $3,780 · unrelated business $3,780

  • 11e · Other revenue, total

    $3,780

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $3,767,732

  • 5 · Compensation of officers, directors and key employees

    total $205,986

  • 7 · Other salaries and wages

    total $1,365,966

  • 8 · Pension plan contributions

    total $74,236

  • 9 · Other employee benefits

    total $227,484

  • 10 · Payroll taxes

    total $115,618

  • 11b · Fees: legal

    total $61,903

  • 11c · Fees: accounting

    total $756,863

  • 12 · Advertising and promotion

    total $127,704

  • 13 · Office expenses

    total $182,980

  • 14 · Information technology

    total $56,700

  • 16 · Occupancy

    total $91,206

  • 17 · Travel

    total $15,091

  • 19 · Conferences, conventions and meetings

    total $26,825

  • 20 · Interest

    total $16

  • 22 · Depreciation, depletion and amortization

    total $107,086

  • 23 · Insurance

    total $64,942

  • 24a · Other expenses: LOAN LOSS ALLOWANCE

    total $225,000

  • 24b · Other expenses: EXAM FEES, LEAGUE DUES

    total $51,866

  • 24c · Other expenses: LOAN SERVICING

    total $36,988

  • 24d · Other expenses: SHAZAM FEES - NONMEMBER

    total $3,915

  • 24e · All other expenses

    total $2,313

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,367,321 · end of year $1,205,973

  • 2 · Savings and temporary cash investments

    beginning of year $121,650,413 · end of year $92,564,540

  • 5 · Loans and receivables from officers and key people

    beginning of year $7,382,092 · end of year $1,981,175

  • 7 · Other notes and loans receivable

    beginning of year $138,148,420 · end of year $159,610,579

  • 9 · Prepaid expenses and deferred charges

    beginning of year $119,139 · end of year $104,347

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

    $1,785,408

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

    $1,033,811

  • 10c · Land, buildings and equipment, net

    beginning of year $679,679 · end of year $751,597

  • 13 · Investments: program-related

    beginning of year $2,165,103 · end of year $1,905,016

  • 15 · Other assets

    beginning of year $2,972,655 · end of year $3,602,793

  • 17 · Accounts payable and accrued expenses

    beginning of year $138,066 · end of year $170,647

  • 25 · Other liabilities

    beginning of year $229,822,272 · end of year $211,984,952

  • 31 · Retained earnings, endowment or other funds

    beginning of year $44,524,484 · end of year $49,570,421

Mission and programs · 2023

Mission

OUR MISSION IS TO BE A LEADER IN THE COMMUNITY, WHILE BEING THE PRIMARY FINANCIAL INSTITUTION OF OUR MEMBERS. GREATER COMMUNITY CREDIT UNION OFFERS OUR MEMBERSHIP HIGH QUALITY, LOW COST SERVICES.

  • DIVIDENDS & INTEREST PAID ON MEMBERS ACCOUNTS.

  • ANNUAL MEETING OF THE CREDIT UNION AT WHICH THE OFFICERS REPORT TO THE MEMBERSHIP OF THE OPERATION OF THE CREDIT UNION. BOARD MEMBERS ARE ALSO ELECTED AT THIS MEETING.

As filed on the 2023 return.

Listed in Part VII

  • John Nevins

    MANAGER

    Total calculated
    $205,986
    From this org
    $166,860
    From related orgs
    $0
    Other
    $39,126
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $166,860
    Bonus
    not reported
    Other
    not reported
    Deferred
    $9,541
    Nontaxable benefits
    $29,585
    Filer's total
    $205,986

  • Betty Adelman

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Terry Anderson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • David Dove

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Shane Fitzner

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Randy Fjerkenstad

    V. CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Ann Jenson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jeff McKeever

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Jerry Nuss

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • David Zaske

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

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 · 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 November 2024
IRS schema version
2023v5.0
Source object
202423179349304572

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.