2024-05-03T14:14:42-05:00 2023-12-31 810781371 J TENBRINK & ASSOCIATES 11272 S RIDGEVIEW RD OLATHE KS 660616454 990 2023-01-01 480615845 MILLENNIUM CORPORATE CREDIT UNION MILL 3167212600 8615 W FRAZIER LN STE 1 WICHITA KS 672123835 ELIZABETH C NEIGHBORS VP - ACCOUNTING 3167212600 2024-05-03 1 ELIZABETH NEIGHBORS 999009999 0 GERALD TENBRINK P00638199 9138946214 2024-05-03 2 AAL1 IAL1 2023 2023-04-26 12:10:37Z LARRY D EISENHAUER 8615 W FRAZIER LN STE 1 WICHITA KS 672123835 65168692 0 X WWW.MILLENNIUMCORPORATE.ORG X 1951 KS MILLENNIUM CORPORATE CREDIT UNION (MILLENNIUM CORPORATE) SERVES AS A FINANCIAL INTERMEDIARY FOR THE CREDIT UNIONS WHICH COMPRISE ITS MEMBERSHIP, AND ITS ACTIVITIES ARE DIRECTED TO THE SUPPORT OF THAT INTERDEPENDENT GROUP. 9 9 45 20 0 0 0 0 7293617 11095444 18532419 43157138 24455269 10916110 50281305 65168692 0 0 0 0 3270029 4080759 0 0 0 30331640 39666219 33601669 43746978 16679636 21421714 1167187630 1287261055 285953529 109469307 881234101 1177791748 MILLENNIUM CORPORATE SERVES AS A FINANCIAL INTERMEDIARY FOR THE CREDIT UNIONS WHICH COMPRISE ITS MEMBERSHIP, AND ITS ACTIVITIES ARE DIRECTED TO THE SUPPORT OF THAT INTERDEPENDENT GROUP. 0 0 MILLENNIUM CORPORATE, NON-PROFIT, INCORPORATED UNDER KANSAS STATUTES FOR THE PURPOSES OF PROVIDING CORRESPONDENT SERVICES, ASSET-LIABILITY MANAGEMENT ANALYSIS AND INVESTMENTS TO MEMBER CREDIT UNIONS WHO IN TURN SERVE THEIR MEMBERS (INDIVIDUAL CUSTOMERS) BY CREATING A SOURCE OF CREDIT AT A FAIR AND REASONABLE RATE OF INTEREST AND PROVIDING OTHER PRODUCTS AND SERVICES TO IMPROVE MEMBERS' ECONOMIC AND SOCIAL CONDITIONS. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 45 1 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 0 0 X ELIZABETH C NEIGHBORS 3167212600 8615 W FRAZIER LN STE 1 WICHITA KS 672123835 TOM KJAR CHAIRMAN 3.00 X 0 0 0 GREG WINKLER VICE CHAIRMAN 3.00 X 0 0 0 TED UNDERWOOD SECRETARY/TREASURER 3.00 X 0 0 0 LARAE KRAEMER DIRECTOR 3.00 X 0 0 0 JOHN HAGEMAN DIRECTOR 3.00 X 0 0 0 PHIL WEBER DIRECTOR 3.00 X 0 0 0 LINDA ALLEN DIRECTOR 3.00 X 0 0 0 MICHAEL AUGUSTINE DIRECTOR 3.00 X 0 0 0 KEVIN STUBBLEFIELD DIRECTOR 3.00 X 0 0 0 LARRY D EISENHAUER PRESIDENT/CEO 50.00 X 274075 0 34573 KENT R GLEASON EXECUTIVE VICE PRESIDENT/COO 50.00 X 210010 0 44505 KATHLEEN M GRAY CHEIF FINANCIAL OFFICER (RETIRED) 50.00 X 127955 0 13782 ELIZABETH C NEIGHBORS VP - ACCOUNTING 50.00 X 90011 0 14624 WALTER G THOMPSON AIM MANAGER & SENIOR FINANCIAL ANALYST 50.00 X 108200 0 38466 BRADY H MCLEOD AIM MANAGER & SENIOR FINANCIAL ANALYST 50.00 X 117673 0 40902 LYN J HOLLENBECK VP - OPERATIONS 50.00 X 110675 0 28443 KIP D POE VP - INFORMATION & TECHNOLOGY 50.00 X 126591 0 41345 LYNETTE M BORNTRAGER DIRECTOR - ITEM PROCESSING 50.00 X 101544 0 38259 1266734 0 294899 8 0 1 0 0 X FEE INCOME 522100 6700310 6700310 INTEREST ON LOANS 522100 4317037 4317037 OTHER INCOME 522100 345416 345416 EQUITY IN EARNINGS FROM CUSO 522100 -267319 -267319 11095444 43157138 43157138 USC ASSET MGMT ESTATE REPAYMENTS 522100 10916110 10916110 10916110 65168692 65168692 0 0 809535 2504833 111895 425015 229481 63000 1039433 243704 1418544 2274528 227112 154226 31530646 214203 122467 SPECIAL DISTRIBUTION TO 1623982 PROFESSIONAL SERVICES 566367 VOLUNTEER MEETINGS 144147 EMPLOYEE DEVELOPMENT 36774 7086 43746978 39347628 24753423 381744461 648731177 2605058 2882333 63575376 46693973 247433 349658 3522635 2027117 1695462 1495518 609368288 501782247 66153388 57506869 2450536 3065857 1167187630 1287261055 1097612 1481302 282523600 104005500 2332317 3982505 285953529 109469307 X 777252575 1060197442 54252571 54322879 49728955 63271427 881234101 1177791748 1167187630 1287261055 X 21421714 -4615701 279751634 X 0 1 X 1 0 92432 92432 1447667 707546 740121 73592 42440 31152 1432045 1122459 309586 476899 154672 322227 1495518 ACCRUED DIVIDENDS & INTEREST 3982505 3982505 X 62045861 0 62045861 3122831 3122831 65168692 40624147 0 40624147 3122831 3122831 43746978 PART X, LINE 2: MILLENNIUM CORPORATE IS EXEMPTED FROM MOST FEDERAL, STATE, AND LOCAL TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE AND STATE TAX LAWS. FASB ASC 740-10-25, "INCOME TAXES, OVERALL RECOGNITION" CLARIFIES ACCOUNTING FOR UNCERTAIN INCOME TAXES REPORTED IN THE FINANCIAL STATEMENTS. THE INTERPRETATION PROVIDES CRITERIA FOR ASSESSMENT OF INDIVIDUAL TAX POSITIONS AND A PROCESS FOR RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. TAX POSITIONS ARE EVALUATED ON WHETHER THEY MEET THE "MORE LIKELY THAN NOT" STANDARD FOR SUSTAINABILITY UPON EXAMINATION BY TAX AUTHORITIES. MILLENNIUM CORPORATE IS A STATE-CHARTERED CREDIT UNION AS DEFINED IN INTERNAL REVENUE CODE (IRC) SECTION 501(C)(14). AS SUCH, MILLENNIUM CORPORATE IS EXEMPT FROM FEDERAL TAXATION OF INCOME DERIVED FROM THE PERFORMANCE OF ACTIVITIES DIRECTLY RELATED TO ITS EXEMPT PURPOSES. HOWEVER, IRS SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME (UBI) DERIVED BY A STATE-CHARTERED CREDIT UNION. WITH FEW EXCEPTIONS, MILLENNIUM CORPORATE IS NO LONGER SUBJECT TO U.S. FEDERAL OR STATE AND LOCAL INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE 2019. PART XI, LINE 4B - OTHER ADJUSTMENTS: ASC 606 REVENUE RECOGNITION RECLASSIFICATION OF FINANCIAL SERVICES EXPENSES 3,122,831. PART XII, LINE 4B - OTHER ADJUSTMENTS: ASC 606 REVENUE RECOGNITION RECLASSIFICATION OF FINANCIAL SERVICES EXPENSES 3,122,831. X X 0 0 0 LARRY D EISENHAUER PRESIDENT/CEO 263555 0 9000 0 1520 0 9221 0 25352 0 308648 0 0 0 KENT R GLEASON EXECUTIVE VICE PRESIDENT/COO 189800 0 19952 0 258 0 10889 0 33616 0 254515 0 0 0 KIP D POE VP - INFORMATION & TECHNOLOGY 107952 0 18381 0 258 0 6793 0 34552 0 167936 0 0 0 BRADY H MCLEOD AIM MANAGER & SENIOR FINANCIAL ANALY 112785 0 4805 0 83 0 6356 0 34546 0 158575 0 0 0 PART I, LINE 3 THE CEO'S SALARY IS REVIEWED ANNUALLY BY THE BOARD OF DIRECTORS WITH INPUT FROM AN INDEPENDENT CONSULTANT. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION'S MEMBERSHIP IS COMPRISED OF CREDIT UNIONS LOCATED NATIONWIDE; HOWEVER, THE MAJORITY OF THE MEMBER CREDIT UNIONS ARE LOCATED IN KANSAS, MONTANA, NEBRASKA AND MISSOURI. FORM 990, PART VI, SECTION A, LINE 7A ANNUAL ELECTION IS DICTATED BY THE ORGANIZATION'S BYLAWS. EACH MEMBER CREDIT UNION HAS ONE VOTE. FORM 990, PART VI, SECTION A, LINE 7B GENERAL MEMBERSHIP WOULD HAVE TO APPROVE A MERGER OR CHANGE IN THE ORGANIZATIONAL STRUCTURE. NO SUCH MATTERS WERE BROUGHT BEFORE THE GENERAL MEMBERSHIP DURING THE 2023 CALENDAR YEAR. FORM 990, PART VI, SECTION B, LINE 11B MILLENNIUM CORPORATE'S VP - ACCOUNTING PROVIDES DATA TO THE OUTSIDE ACCOUNTING FIRM PREPARING THE FORM 990 AND REVIEWS IT UPON COMPLETION. THE FINAL FORM 990 IS PROVIDED TO THE ORGANIZATION'S BOARD OF DIRECTORS FOR THEIR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION'S BOARD OF DIRECTORS REVIEWS AND APPROVES ALL POLICIES. OFFICERS, DIRECTORS AND KEY EMPLOYEES ARE REQUIRED TO VOLUNTARILY REPORT ANY CONFLICT OF INTEREST THAT MAY ARISE DURING THE NORMAL COURSE OF BUSINESS. FORM 990, PART VI, SECTION B, LINE 15A THE ORGANIZATION'S SALARY REVIEW FOR THE CEO AND ALL STAFF POSITIONS IS PERFORMED ANNUALLY BY THE BOARD OF DIRECTORS WITH INPUT FROM AN INDEPENDENT CONSULTANT. FORM 990, PART VI, SECTION C, LINE 18 THE PUBLIC MAY REQUEST A COPY OF THE ORGANIZATION'S FORM 990 BY CONTACTING: ELIZABETH C. NEIGHBORS, VP - ACCOUNTING MILLENNIUM CORPORATE CREDIT UNION 8615 W FRAZIER LN, STE 1 WICHITA, KS 67212 DIRECT NO. (800)721-2677 X129, FAX NO. (314)542-1379 EMAIL: BETH@MILLENNIUMCORPORATE.ORG FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION PUBLISHES ITS ANNUAL REPORT, INCLUDING AUDITED FINANCIAL STATEMENTS AND VARIOUS MANAGEMENT/COMMITTEE REPORTS ON ITS WEBSITE AT WWW.MILLENNIUMCORPORATE.ORG. THE ANNUAL DUE DILIGENCE PACKET IS ALSO MADE AVAILABLE VIA THE MEMBER ONLY SECTION ON THE ORGANIZATION'S WEBSITE. REGULATORY CALL REPORTS ARE FILED MONTHLY WITH THE NCUA. FORM 990, PART VIII, LINE 11, OTHER REVENUES "USC ASSET MANAGEMENT ESTATE REPAYMENTS" OF $10,916,110, REPRESENTS FUNDS RECEIVED FROM THE NCUA, AS LIQUIDATING AGENT FOR THE U.S. CENTRAL ASSET MANAGEMENT ESTATE (U.S. CENTRAL AME), AS PART OF THE TOTAL CLAIM MILLENNIUM CORPORATE HAS IN ITS MEMBERSHIP CAPITAL SHARES AND PAID-IN CAPITAL HOLDINGS IN U.S. CENTRAL CORPORATE FEDERAL CREDIT UNION. FORM 990, PART XI, LINE 9: NET CHANGE IN DEPOSITS OF FUNDS BY MEMBER CREDIT UNIONS 282,944,867. DIVIDENDS PAID ON PERPETUAL CONTRIBUTED CAPITAL -3,263,541. ADDITIONAL CAPITAL RAISED 70,308.