Parsons_FCU-2021_Annual_Report.pdf

F I N A N C I A L R E P O R T I N G

Statement of Financial Condition

Income Statement

As of 12/31/2021

As of 12/31/2020

As of 12/31/2019

As of 12 / 31 / 2021

As of 12 / 31 / 2020

As of 12 / 31 / 2019

Income Interest on Loans

Assets Loans

$5,629,796

$5,588,827 1,161,706

$5,116,149 1,758,635

$149,912,445

$140,722,850

$135,038,781

Income from Investments

696,669 921,032

Allowance for Loan Losses

(579,285)

(603,920)

(324,854)

Other Income

795,614

866,940

Cash

30,029,296 71,378,503

24,025,045 74,252,261

16,907,884 63,924,195

Investments

Total Income

$7,247,496

$7,546,148

$7,741,724

Prepaid & Deferred Expenses

682,601

399,129

267,308

Net Fixed Assets Accrued Income

1,218,327

1,544,142

1,683,475

438,928

484,069

405,141

Expenses Employee Compensation & Benefits Professional & Outside Services

Other Assets

10,349,427

9,875,643

9,679,418

Accounts Receivable

427,121

735,315

523,008

$2,476,942

$2,633,891

$2,411,594

389,057 239,076

363,856 517,324

164,066 333,296

Total Assets

$263,857,362

$251,434,534

$228,104,356

Provision for Loan Losses

Office Operations Other Expenses

2,441,086

2,274,839

2,098,799

Liabilities Accounts Payable Accrued Expenses All Other Liabilities

602,437

519,825

655,758

$29,517 591,217

$17,146 667,611

$213,359 385,622 2,999,986

Total Expenses

$6,148,597

$6,309,735

$5,663,513

2,968,218

8,032,865

Member Share Accounts

231,728,445

212,936,074

195,941,004

Income Before Dividends Interest on Borrowed Money

$1,098,899

$1,236,413

$2,078,211

Total Liabilities

$235,317,397

$221,653,696

$199,539,971

84,588

85,253

99,584

Equity Reserves

Dividends

1,034,099

1,748,614

1,776,522

Other Non-Operating Income/(Expense)

(75,000) 228,374 133,587

0

0

$6,000,000 23,405,987

$6,000,000 23,272,400

$6,000,000 23,054,933

Gain/(Loss) on Investments

814,922 217,467

131,995 334,100

Undivided Earnings

Net Income

Unrealized Investment Gains/(Losses)

(866,022)

508,439

(490,548)

Total Equity

$28,539,965

$29,780,839

$28,564,385

NCUSIF Stabilization Expense

$0

$0

$0

Net Income

$133,587

$217,467

$334,100

Total Liabilities & Equity

$263,857,362

$251,434,534

$228,104,356

20 PARSONS FCU 2021 ANNUAL REPORT