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Nonprofiteer
← GREATER NEVADA CREDIT UNION

Form 990 for tax year 2023

Filed by GREATER NEVADA CREDIT UNION.

Totals

Total revenue
$96,660,698
Total expenses
$115,001,515
Contributions and grants received
$0
Grants paid
$837,340
Program service revenue
$86,590,511
Investment income
$9,915,407
Other revenue
$154,780
Total assets, end of year
$1,756,847,081
Total liabilities, end of year
$1,656,061,217
Net assets or fund balances, end of year
$100,785,864
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 - MEMBER LOAN

    total $59,809,930 · related or exempt $59,809,930

  • 2b · Program service revenue: FEES & SERVICE CHARGES

    total $12,518,706 · related or exempt $12,518,706

  • 2c · Program service revenue: INTERCHANGE INCOME

    total $8,628,958 · related or exempt $8,628,958

  • 2d · Program service revenue: SERVICING FEES

    total $1,566,027 · related or exempt $1,566,027

  • 2e · Program service revenue: GAIN ON SALE OF LOANS

    total $1,441,860 · related or exempt $1,441,860

  • 2f · All other program service revenue

    total $2,625,030 · related or exempt $1,663,079 · unrelated business $961,951

  • 3 · Investment income

    total $9,476,680 · unrelated business $551,201 · excluded $8,925,479

  • 6a · Gross rents

    real property $609,233

  • 6b · Less rental expenses

    real property $454,453

  • 6c · Rental income or loss

    real property $154,780

  • 6d · Net rental income or loss

    total $154,780 · excluded $154,780

  • 7a · Gross sales of assets other than inventory

    other assets $3,260,390

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

    other assets $2,821,663

  • 7c · Gain or loss

    other assets $438,727

  • 7d · Net gain or loss

    total $438,727 · excluded $438,727

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $773,340

  • 2 · Grants to domestic individuals

    total $64,000

  • 5 · Compensation of officers, directors and key employees

    total $2,711,648

  • 6 · Compensation of disqualified persons

    total $179,317

  • 7 · Other salaries and wages

    total $18,879,949

  • 8 · Pension plan contributions

    total $604,851

  • 9 · Other employee benefits

    total $3,298,742

  • 10 · Payroll taxes

    total $1,864,265

  • 11b · Fees: legal

    total $644,854

  • 11c · Fees: accounting

    total $196,795

  • 11f · Fees: investment management

    total $127,523

  • 11g · Fees: other

    total $3,564,590

  • 12 · Advertising and promotion

    total $4,970,137

  • 13 · Office expenses

    total $3,341,401

  • 14 · Information technology

    total $2,890,762

  • 16 · Occupancy

    total $3,018,718

  • 17 · Travel

    total $541,396

  • 19 · Conferences, conventions and meetings

    total $345,035

  • 20 · Interest

    total $21,750,378

  • 22 · Depreciation, depletion and amortization

    total $4,651,914

  • 23 · Insurance

    total $171,865

  • 24a · Other expenses: LOAN LOSS PROVISION

    total $13,313,753

  • 24b · Other expenses: OTHER OPERATING EXPENSE

    total $10,778,005

  • 24c · Other expenses: PROCESSING COSTS

    total $5,627,046

  • 24d · Other expenses: LOAN SERVICING

    total $4,829,366

  • 24e · All other expenses

    total $5,861,865

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $49,708,920 · end of year $42,871,676

  • 2 · Savings and temporary cash investments

    beginning of year $83,171,301 · end of year $55,074,390

  • 5 · Loans and receivables from officers and key people

    beginning of year $2,250,000 · end of year $1,590,546

  • 7 · Other notes and loans receivable

    beginning of year $1,233,111,222 · end of year $1,292,262,194

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,322,505 · end of year $4,983,451

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

    $91,195,047

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

    $40,715,571

  • 10c · Land, buildings and equipment, net

    beginning of year $51,216,260 · end of year $50,479,476

  • 11 · Investments: publicly traded securities

    beginning of year $232,376,518 · end of year $207,639,712

  • 12 · Investments: other securities

    beginning of year $6,832,079 · end of year $7,159,079

  • 13 · Investments: program-related

    beginning of year $4,334,378 · end of year $2,410,526

  • 14 · Intangible assets

    beginning of year $2,440,171 · end of year $2,363,171

  • 15 · Other assets

    beginning of year $99,437,170 · end of year $90,012,860

  • 17 · Accounts payable and accrued expenses

    beginning of year $17,369,933 · end of year $13,176,410

  • 23 · Secured mortgages and notes payable

    beginning of year $85,422,458 · end of year $420,131

  • 25 · Other liabilities

    beginning of year $1,546,958,389 · end of year $1,642,464,676

  • 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 $117,449,744 · end of year $100,785,864

Mission and programs · 2023

Mission

TO PROVIDE QUALITY FINANCIAL SERVICES TO MEMBERS.

  • FINANCIAL SERVICES - BANKING ACTIVITIES, INCLUDING LOANS AND DEPOSITS. TOTAL MEMBERSHIP TO THE CREDIT UNION GREW TO 88,042 IN 2023, AN INCREASE OF 2,669 FOR THE YEAR. DURING 2023, THE CREDIT UNION AND ITS AFFILIATES FUNDED $188,912,941 MILLION IN CONSUMER LOANS.

  • MORTGAGE SERVICES - ORIGINATING, SELLING, AND SERVICING OF REAL ESTATE MORTGAGES. DURING 2023, THE CREDIT UNION FUNDED $107,576,685 MILLION IN MORTGAGE LOANS.

  • COMMERCIAL LENDING - ORIGINATING, SELLING, AND SERVICING OF COMMERCIAL LOANS. DURING 2023, THE CREDIT UNION FUNDED $4,950,000 MILLION IN COMMERCIAL LOANS.

As filed on the 2023 return.

Listed in Part VII

  • Daniel Delarosa

    PRESIDENT/CEO (AS OF 03/23)

    Total calculated
    $405,063
    From this org
    $361,097
    From related orgs
    $0
    Other
    $43,966
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $326,097
    Bonus
    $35,000
    Other
    $0
    Deferred
    $14,850
    Nontaxable benefits
    $29,116
    Filer's total
    $405,063

  • Doreen Amador

    VP OF COMMERCIAL PRODUCTION

    Total calculated
    $370,618
    From this org
    $346,060
    From related orgs
    $0
    Other
    $24,558
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $199,991
    Bonus
    $146,069
    Other
    $0
    Deferred
    $14,850
    Nontaxable benefits
    $9,708
    Filer's total
    $370,618

  • Jeremy Gilpin

    PRESIDENT, GCL

    Total calculated
    $368,272
    From this org
    $0
    From related orgs
    $336,202
    Other
    $32,070
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $331,202 related
    Bonus
    $0 + $5,000 related
    Other
    $0
    Deferred
    $0 + $14,850 related
    Nontaxable benefits
    $0 + $17,220 related
    Filer's total
    $0 + $368,272 related

  • Michael Dietrich

    CHIEF TECHNOLOGY OFFICER

    Total calculated
    $333,096
    From this org
    $311,099
    From related orgs
    $0
    Other
    $21,997
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $275,099
    Bonus
    $36,000
    Other
    $0
    Deferred
    $9,124
    Nontaxable benefits
    $12,873
    Filer's total
    $333,096

  • Richard Hassman

    CHIEF FINANCIAL OFFICER

    Total calculated
    $317,525
    From this org
    $280,504
    From related orgs
    $0
    Other
    $37,021
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $245,504
    Bonus
    $35,000
    Other
    $0
    Deferred
    $8,261
    Nontaxable benefits
    $28,760
    Filer's total
    $317,525

  • James Anderson

    PRESIDENT, GNM

    Total calculated
    $291,879
    From this org
    $249,331
    From related orgs
    $0
    Other
    $42,548
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $239,331
    Bonus
    $10,000
    Other
    $0
    Deferred
    $11,220
    Nontaxable benefits
    $31,328
    Filer's total
    $291,879

  • Michael Thomas

    SENIOR VP OF COMMUNICATIONS

    Total calculated
    $283,771
    From this org
    $250,133
    From related orgs
    $0
    Other
    $33,638
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $224,133
    Bonus
    $26,000
    Other
    $0
    Deferred
    $10,236
    Nontaxable benefits
    $23,402
    Filer's total
    $283,771

  • Marcus Wertz

    CHIEF LENDING OFFICER

    Total calculated
    $282,846
    From this org
    $258,631
    From related orgs
    $0
    Other
    $24,215
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $223,631
    Bonus
    $35,000
    Other
    $0
    Deferred
    $6,995
    Nontaxable benefits
    $17,220
    Filer's total
    $282,846

  • Nicholas Rosival - Senior Vp Of

    INFRASTRUCTURE & PLATFORMS

    Total calculated
    $261,429
    From this org
    $224,848
    From related orgs
    $0
    Other
    $36,581
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $206,348
    Bonus
    $18,500
    Other
    $0
    Deferred
    $6,745
    Nontaxable benefits
    $29,836
    Filer's total
    $261,429

  • Melissa Martinez

    VICE PRESIDENT OF LENDING

    Total calculated
    $261,110
    From this org
    $224,794
    From related orgs
    $0
    Other
    $36,316
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $210,044
    Bonus
    $14,750
    Other
    $0
    Deferred
    $7,200
    Nontaxable benefits
    $29,116
    Filer's total
    $261,110

  • Jen Treadway

    CHIEF PEOPLE OFFICER

    Total calculated
    $252,789
    From this org
    $229,645
    From related orgs
    $0
    Other
    $23,144
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $212,345
    Bonus
    $17,300
    Other
    $0
    Deferred
    $9,631
    Nontaxable benefits
    $13,513
    Filer's total
    $252,789

  • Patricia Chang

    SENIOR VP OF RISK

    Total calculated
    $250,211
    From this org
    $231,303
    From related orgs
    $0
    Other
    $18,908
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $205,303
    Bonus
    $26,000
    Other
    $0
    Deferred
    $9,252
    Nontaxable benefits
    $9,656
    Filer's total
    $250,211

  • Lisa Seisennop

    VP OF DIVERSIFIED ASSETS

    Total calculated
    $244,182
    From this org
    $224,377
    From related orgs
    $0
    Other
    $19,805
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $211,683
    Bonus
    $12,694
    Other
    $0
    Deferred
    $10,097
    Nontaxable benefits
    $9,708
    Filer's total
    $244,182

  • Joyce Whitney-Silva - Former

    CHIEF FINANCIAL OFFICER (THRU 10/22)

    Total calculated
    $179,317
    From this org
    $152,387
    From related orgs
    $0
    Other
    $26,930
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $147,162
    Bonus
    $5,225
    Other
    $0
    Deferred
    $6,561
    Nontaxable benefits
    $20,369
    Filer's total
    $179,317

  • Wallace Murray

    PRESIDENT/CEO (THRU 03/23)

    Total calculated
    $148,909
    From this org
    $138,138
    From related orgs
    $0
    Other
    $10,771
    Hours/week
    40

  • Rob Joiner

    CHAIR

    Total calculated
    $10,500
    From this org
    $10,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Paul Richey

    DIRECTOR

    Total calculated
    $5,768
    From this org
    $5,768
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Marsha Burgess

    DIRECTOR

    Total calculated
    $5,614
    From this org
    $5,614
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • William Arensdorf

    VICE CHAIR

    Total calculated
    $4,140
    From this org
    $4,140
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Alex Talmant

    DIRECTOR (THRU 03/23)

    Total calculated
    $1,474
    From this org
    $1,474
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Travis Lee

    TREASURER

    Total calculated
    $0
    Hours/week
    4

  • Jon Steele

    SECRETARY

    Total calculated
    $0
    Hours/week
    4

  • Barbara Byington

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

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 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 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

The 10 largest by cash amount. The API serves every itemized grant.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • GREATER NEVADA LLC

    MORTGAGE SERVICES · NV · income $5,037,547 · assets $25,765,728

    Directly controlled by GREATER NEVADA CREDIT UNION

  • GREATER NEVADA FINANCIAL GROUP LLC

    INSURANCE PRODUCTS · NV · income $396,649 · assets $627,003

    Directly controlled by GREATER NEVADA CREDIT UNION

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • GREATER NEVADA COMMERCIAL LENDING LLC

    RELATED · COMMERCIAL LENDING · NV · 75% owned · share of income $1,004,742 · share of assets $9,799,220 · general or managing partner

    Directly controlled by GREATER NEVADA CREDIT UNION

Provenance

Return type
form_990
Tax year
2023
Filed
14 November 2024
IRS schema version
2023v5.1
Source object
202413209349315271

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