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Nonprofiteer
← IDAHO CENTRAL CREDIT UNION

Form 990 for tax year 2022

Filed by IDAHO CENTRAL CREDIT UNION.

Totals

Total revenue
$406,338,322
Total expenses
$307,074,258
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$406,338,322
Investment income
$0
Other revenue
$0
Total assets, end of year
$9,744,390,843
Total liabilities, end of year
$988,171,731
Net assets or fund balances, end of year
$8,756,219,112
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$307,074,258

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: Interest on Loans to Members

    total $279,325,425 · related or exempt $279,325,425 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: Other Member Income

    total $87,833,506 · related or exempt $87,833,506 · unrelated business $0 · excluded $0

  • 2c · Program service revenue: Income from Member Fees and Charges

    total $38,935,353 · related or exempt $38,935,353 · unrelated business $0 · excluded $0

  • 2d · Program service revenue: Investment Income

    total $244,038 · related or exempt $244,038 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $58,296,236

  • 5 · Compensation of officers, directors and key employees

    total $7,595,545

  • 6 · Compensation of disqualified persons

    total $106,178,928

  • 8 · Pension plan contributions

    total $4,670,888

  • 9 · Other employee benefits

    total $20,574,619

  • 10 · Payroll taxes

    total $8,210,673

  • 11b · Fees: legal

    total $110,336

  • 11c · Fees: accounting

    total $1,001,000

  • 11g · Fees: other

    total $861,774

  • 12 · Advertising and promotion

    total $25,863,539

  • 13 · Office expenses

    total $12,736,179

  • 14 · Information technology

    total $22,256,746

  • 16 · Occupancy

    total $7,089,580

  • 17 · Travel

    total $8,180,145

  • 19 · Conferences, conventions and meetings

    total $1,363,827

  • 20 · Interest

    total $9,490,477

  • 22 · Depreciation, depletion and amortization

    total $11,875,152

  • 23 · Insurance

    total $628,151

  • 24a · Other expenses: Miscellaneous Expenses

    total $90,463

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $57,052,371 · end of year $64,756,230

  • 2 · Savings and temporary cash investments

    beginning of year $1,329,976,466 · end of year $549,310,006

  • 4 · Accounts receivable

    beginning of year $3,922,657 · end of year $2,283,752

  • 7 · Other notes and loans receivable

    beginning of year $6,279,097,396 · end of year $8,348,292,729

  • 9 · Prepaid expenses and deferred charges

    beginning of year $39,742,965 · end of year $45,996,243

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

    $405,786,051

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

    $47,598,772

  • 10c · Land, buildings and equipment, net

    beginning of year $314,924,372 · end of year $358,187,279

  • 13 · Investments: program-related

    beginning of year $131,573,024 · end of year $166,423,199

  • 15 · Other assets

    beginning of year $184,034,306 · end of year $209,141,405

  • 17 · Accounts payable and accrued expenses

    beginning of year $137,459,344 · end of year $166,210,687

  • 23 · Secured mortgages and notes payable

    beginning of year $168,433,178 · end of year $810,600,948

  • 25 · Other liabilities

    beginning of year $5,117,344 · end of year $11,360,096

  • 29 · Capital stock, trust principal or current funds

    beginning of year $7,385,385,514 · end of year $8,016,433,464

  • 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 $643,928,177 · end of year $739,785,648

Mission and programs · 2022

Mission

Credit Union providing financial services to members.

Activities or mission (Part I)

Credit Union providing financial products and services to members.

  • Idaho Central serves 547,697 members through 48 locations. We provide a full range of financial products and services to our members. We pool member funds and loan them to members. All expenses are either related to having funds available to lend or operating costs. We provided loans to 226,430 of our members. Total loans outstanding at the end of the year were $8,374,477,327. All 547,697 of our members participate in our deposit products. During the year we spent $46,583,527 in interest expense to have funds available to lend to members.

    Expenses $307,074,258 · Revenue $406,338,322

As filed on the 2022 return.

Listed in Part VII

  • Kent Oram

    Chief Executive Officer

    Total calculated
    $1,997,369
    From this org
    $1,919,743
    From related orgs
    $0
    Other
    $77,626
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $1,090,253
    Bonus
    $811,347
    Other
    $18,143
    Deferred
    $0
    Nontaxable benefits
    $77,626
    Filer's total
    $1,997,369

  • Shelli Bardsley

    Chief Administrative Officer

    Total calculated
    $1,677,673
    From this org
    $1,643,293
    From related orgs
    $0
    Other
    $34,380
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $306,275
    Bonus
    $885,865
    Other
    $451,153
    Deferred
    $0
    Nontaxable benefits
    $34,380
    Filer's total
    $1,677,673

  • Brenda Worrell

    Chief Operating Officer

    Total calculated
    $1,352,561
    From this org
    $1,173,074
    From related orgs
    $0
    Other
    $179,487
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $771,058
    Bonus
    $390,119
    Other
    $11,897
    Deferred
    $122,307
    Nontaxable benefits
    $179,487
    Filer's total
    $1,474,868

  • Brian Berrett

    Chief Financial Officer

    Total calculated
    $775,632
    From this org
    $584,196
    From related orgs
    $0
    Other
    $191,436
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $467,440
    Bonus
    $106,157
    Other
    $10,599
    Deferred
    $161,420
    Nontaxable benefits
    $191,436
    Filer's total
    $937,052

  • Mark Willden

    Chief Information Officer

    Total calculated
    $772,765
    From this org
    $593,171
    From related orgs
    $0
    Other
    $179,594
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $471,061
    Bonus
    $106,157
    Other
    $15,953
    Deferred
    $154,136
    Nontaxable benefits
    $179,594
    Filer's total
    $926,901

  • Anthony Eckman

    Mortgage Loan Officer

    Total calculated
    $769,868
    From this org
    $743,867
    From related orgs
    $0
    Other
    $26,001
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $743,844
    Other
    $23
    Deferred
    $7,514
    Nontaxable benefits
    $26,001
    Filer's total
    $777,382

  • Sean Palmer

    Mortgage Loan Officer

    Total calculated
    $769,301
    From this org
    $743,184
    From related orgs
    $0
    Other
    $26,117
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $742,960
    Other
    $224
    Deferred
    $7,514
    Nontaxable benefits
    $26,117
    Filer's total
    $776,815

  • David Rusk

    Mortgage Loan Officer

    Total calculated
    $757,720
    From this org
    $731,675
    From related orgs
    $0
    Other
    $26,045
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $731,650
    Other
    $25
    Deferred
    $7,547
    Nontaxable benefits
    $26,045
    Filer's total
    $765,267

  • Jared Olson

    Mortgage Loan Officer

    Total calculated
    $731,649
    From this org
    $715,001
    From related orgs
    $0
    Other
    $16,648
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $8,777
    Bonus
    $706,198
    Other
    $26
    Deferred
    $7,360
    Nontaxable benefits
    $16,648
    Filer's total
    $739,009

  • Natalie Chatfield

    Mortgage Loan Officer

    Total calculated
    $680,446
    From this org
    $654,289
    From related orgs
    $0
    Other
    $26,157
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $654,150
    Other
    $139
    Deferred
    $7,555
    Nontaxable benefits
    $26,157
    Filer's total
    $688,001

  • Edward Tierney

    Chief Lending Officer

    Total calculated
    $621,361
    From this org
    $583,799
    From related orgs
    $0
    Other
    $37,562
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $437,444
    Bonus
    $141,346
    Other
    $5,009
    Deferred
    $8,219
    Nontaxable benefits
    $37,562
    Filer's total
    $629,580

  • Corey Dahle

    Chief Experience Officer

    Total calculated
    $614,815
    From this org
    $580,590
    From related orgs
    $0
    Other
    $34,225
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $436,825
    Bonus
    $137,121
    Other
    $6,644
    Deferred
    $7,547
    Nontaxable benefits
    $34,225
    Filer's total
    $622,362

  • Michael Watson

    Chief Marketing Officer

    Total calculated
    $598,019
    From this org
    $394,031
    From related orgs
    $0
    Other
    $203,988
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $302,987
    Bonus
    $81,477
    Other
    $9,567
    Deferred
    $180,414
    Nontaxable benefits
    $203,988
    Filer's total
    $778,433

  • Debbie Brady

    Board Member

    Total calculated
    $0
    Hours/week
    5

  • Russ McCoy

    Board Member

    Total calculated
    $0
    Hours/week
    5

  • Troy Neu

    Chairman

    Total calculated
    $0
    Hours/week
    5

  • Jonathon Hunt

    Board Member

    Total calculated
    $0
    Hours/week
    5

  • Judy Harveston

    Board Member

    Total calculated
    $0
    Hours/week
    5

  • Cindy Watson

    Board Member

    Total calculated
    $0
    Hours/week
    5

  • Jace Katseanes

    Board Member

    Total calculated
    $0
    Hours/week
    5

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
  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

Schedule J, Part I, Line 1a
Idaho Central provides certain key employees first class air, travel for companions, and health or social club dues.
Schedule J, Part I, Line 4
Amounts expensed in 2022 are as follows: Shelli Bardsley - $4,785. In addition, the organization deposited funds into a life insurance policy on the participants' life, and subject to the policy generating sufficient values, the participant can borrow from the policy. At death, the organization recovers its premiums plus interest plus additional key-person insurance proceeds.

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
8 May 2023
IRS schema version
2022v5.0
Source object
202331289349300143

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