Skip to content
Nonprofiteer
← 718 ATOMIC CREDIT UNION INC

Form 990 for tax year 2022

Filed by 718 ATOMIC CREDIT UNION INC.

Totals

Total revenue
$35,641,688
Total expenses
$28,746,895
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$34,253,140
Investment income
$1,388,548
Other revenue
$0
Total assets, end of year
$550,744,794
Total liabilities, end of year
$505,743,366
Net assets or fund balances, end of year
$45,001,428
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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 $21,205,955 · related or exempt $21,205,955

  • 2b · Program service revenue: FEES & COMMISSIONS

    total $13,034,269 · related or exempt $12,881,058 · unrelated business $153,211

  • 2c · Program service revenue: OTHER INCOME

    total $12,916 · related or exempt $12,916

  • 3 · Investment income

    total $1,217,530 · excluded $1,217,530

  • 7a · Gross sales of assets other than inventory

    other assets $360,642

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

    other assets $189,624

  • 7c · Gain or loss

    other assets $171,018

  • 7d · Net gain or loss

    total $171,018 · related or exempt $171,018

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $1,776,208

  • 7 · Other salaries and wages

    total $8,838,723

  • 8 · Pension plan contributions

    total $891,521

  • 9 · Other employee benefits

    total $2,300,201

  • 10 · Payroll taxes

    total $816,376

  • 11b · Fees: legal

    total $92,990

  • 11c · Fees: accounting

    total $126,000

  • 11g · Fees: other

    total $1,707,876

  • 12 · Advertising and promotion

    total $692,390

  • 13 · Office expenses

    total $1,720,989

  • 16 · Occupancy

    total $418,683

  • 17 · Travel

    total $231,381

  • 19 · Conferences, conventions and meetings

    total $6,150

  • 20 · Interest

    total $1,505,452

  • 22 · Depreciation, depletion and amortization

    total $1,812,317

  • 23 · Insurance

    total $104,368

  • 24a · Other expenses: CARD PROCESSING EXPENSE

    total $2,854,390

  • 24b · Other expenses: PROVISION FOR LOAN LOSS

    total $1,643,019

  • 24c · Other expenses: LOAN SERVICING

    total $587,590

  • 24d · Other expenses: MISCELLANEOUS

    total $543,311

  • 24e · All other expenses

    total $76,960

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $12,761,614 · end of year $15,781,140

  • 2 · Savings and temporary cash investments

    beginning of year $69,195,679 · end of year $33,644,934

  • 5 · Loans and receivables from officers and key people

    beginning of year $2,240,907 · end of year $2,375,592

  • 7 · Other notes and loans receivable

    beginning of year $369,224,005 · end of year $448,132,169

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

    $32,391,049

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

    $11,204,540

  • 10c · Land, buildings and equipment, net

    beginning of year $19,725,715 · end of year $21,186,509

  • 11 · Investments: publicly traded securities

    beginning of year $10,420,925 · end of year $15,837,133

  • 12 · Investments: other securities

    beginning of year $4,331,156 · end of year $3,582,701

  • 15 · Other assets

    beginning of year $8,958,758 · end of year $10,204,616

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,821,464 · end of year $4,278,629

  • 25 · Other liabilities

    beginning of year $453,930,660 · end of year $501,464,737

  • 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 $38,106,635 · end of year $45,001,428

Mission and programs · 2022

Mission

THE PURPOSE OF THIS CREDIT UNION SHALL BE TO PROMOTE THRIFT AND TO PROVIDE CREDIT FOR ITS MEMBERS.

  • PROVIDE FINANCIAL SERVICES TO ITS MEMBERS.

As filed on the 2022 return.

Listed in Part VII

  • Charlotte Litten

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Billy Spencer

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Vern Blaine

    SECRETARY

    Total calculated
    $6,306
    From this org
    $6,306
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Tammy Jones

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • John Boyer

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Gerald Komlos

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Thomas Griffiths

    CEO/PRESIDENT

    Total calculated
    $525,802
    From this org
    $477,815
    From related orgs
    $0
    Other
    $47,987
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $445,663
    Bonus
    $22,500
    Other
    $9,652
    Deferred
    $47,987
    Nontaxable benefits
    $0
    Filer's total
    $525,802

  • Jerod Wiley

    CFO

    Total calculated
    $240,481
    From this org
    $217,883
    From related orgs
    $0
    Other
    $22,598
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $201,556
    Bonus
    $15,000
    Other
    $1,327
    Deferred
    $22,598
    Nontaxable benefits
    $0
    Filer's total
    $240,481

  • Aaron Michael

    COO

    Total calculated
    $302,040
    From this org
    $275,913
    From related orgs
    $0
    Other
    $26,127
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $262,644
    Bonus
    $12,000
    Other
    $1,269
    Deferred
    $26,127
    Nontaxable benefits
    $0
    Filer's total
    $302,040

  • Curtis Green

    VP OF IT

    Total calculated
    $151,049
    From this org
    $137,012
    From related orgs
    $0
    Other
    $14,037
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $131,925
    Bonus
    $5,000
    Other
    $87
    Deferred
    $14,037
    Nontaxable benefits
    $0
    Filer's total
    $151,049

  • Nicole Persin

    VP OF RISK MANAGEMENT

    Total calculated
    $130,174
    From this org
    $118,153
    From related orgs
    $0
    Other
    $12,021
    Hours/week
    40

  • Branden McGhee

    REGIONAL MANAGER

    Total calculated
    $120,279
    From this org
    $109,157
    From related orgs
    $0
    Other
    $11,122
    Hours/week
    40

  • Geoff Grimes

    REGIONAL MANAGER

    Total calculated
    $124,904
    From this org
    $113,894
    From related orgs
    $0
    Other
    $11,010
    Hours/week
    40

  • Shannon Weber

    COMPLIANCE ATTORNEY

    Total calculated
    $118,240
    From this org
    $107,060
    From related orgs
    $0
    Other
    $11,180
    Hours/week
    40

  • Tyler Pierpont

    VP OF COLLECTIONS

    Total calculated
    $112,918
    From this org
    $102,348
    From related orgs
    $0
    Other
    $10,570
    Hours/week
    40

  • John Lambert

    REGIONAL MANAGER

    Total calculated
    $119,357
    From this org
    $110,667
    From related orgs
    $0
    Other
    $8,690
    Hours/week
    40

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

  • 1a · First-class or charter travel
  • 1a · Travel for companions
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 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
2022
Filed
6 November 2023
IRS schema version
2022v5.0
Source object
202323189349309107

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.