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Nonprofiteer
← CREDIT UNIONS CHARTERED IN THE STATE OF COLORADO

Form 990 for tax year 2023

Filed by CREDIT UNIONS CHARTERED IN THE STATE OF COLORADO.

Totals

Total revenue
$5,954,799
Total expenses
$5,768,853
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$5,569,675
Investment income
$346,068
Other revenue
$39,056
Total assets, end of year
$117,181,333
Total liabilities, end of year
$107,499,732
Net assets or fund balances, end of year
$9,681,601
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 LOANS

    total $4,258,752 · related or exempt $4,258,752

  • 2b · Program service revenue: PLASTICS & OTHER OP IN

    total $881,318 · related or exempt $881,318

  • 2c · Program service revenue: FEES MEMBER SERVICE

    total $429,605 · related or exempt $429,605

  • 3 · Investment income

    total $346,068 · excluded $346,068

  • 11a · Other revenue: OTHER INCOME

    total $22,702 · related or exempt $22,702

  • 11b · Other revenue: OTHER GAIN LOSS

    total $9,500 · related or exempt $9,500

  • 11c · Other revenue: NON-MEMBER ATM FEES

    total $3,654 · unrelated business $3,654

  • 11d · All other revenue

    total $3,200 · unrelated business $3,200

  • 11e · Other revenue, total

    $39,056

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $627,998

  • 7 · Other salaries and wages

    total $896,825

  • 8 · Pension plan contributions

    total $15,260

  • 9 · Other employee benefits

    total $135,517

  • 10 · Payroll taxes

    total $136,557

  • 11b · Fees: legal

    total $27,627

  • 11g · Fees: other

    total $153,587

  • 12 · Advertising and promotion

    total $185,529

  • 16 · Occupancy

    total $271,591

  • 19 · Conferences, conventions and meetings

    total $42,369

  • 20 · Interest

    total $288,580

  • 22 · Depreciation, depletion and amortization

    total $248,702

  • 24a · Other expenses: OFFICE OPERATIONS

    total $1,184,942

  • 24b · Other expenses: DIVIDENDS & INTEREST -M

    total $855,413

  • 24c · Other expenses: LOAN SERVICING EXPENSE

    total $654,952

  • 24d · Other expenses: OTHER OPERATING EXPENSE

    total $53,924

  • 24e · All other expenses

    total -$10,520

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $247,898 · end of year $210,981

  • 2 · Savings and temporary cash investments

    beginning of year $2,348,225 · end of year $4,811,859

  • 4 · Accounts receivable

    beginning of year $453,130 · end of year $26,930

  • 7 · Other notes and loans receivable

    beginning of year $89,050,104 · end of year $87,357,348

  • 9 · Prepaid expenses and deferred charges

    beginning of year $773,682 · end of year $812,761

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

    $9,455,337

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

    $2,318,420

  • 10c · Land, buildings and equipment, net

    beginning of year $7,220,738 · end of year $7,136,917

  • 11 · Investments: publicly traded securities

    beginning of year $300,264 · end of year $283,079

  • 12 · Investments: other securities

    beginning of year $1,746,551 · end of year $2,058,328

  • 15 · Other assets

    beginning of year $17,378,227 · end of year $14,483,130

  • 17 · Accounts payable and accrued expenses

    beginning of year -$637,006 · end of year -$580,457

  • 23 · Secured mortgages and notes payable

    beginning of year $5,000,000 · end of year $3,500,000

  • 25 · Other liabilities

    beginning of year $105,664,050 · end of year $104,580,189

  • 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 $9,491,775 · end of year $9,681,601

Mission and programs · 2023

Mission

WE ARE DEDICATED TO SERVING THE MEMBERSHIP'S BEST INTERESTS, PROVIDING EXCEPTIONAL VALUE RELATIVE TO COST, AND EARNING TRUST AND CONFIDENCE BY OPERATING IN AN ETHICAL AND FINANCIALLY SOUND MANNER.

  • CONSUMER LENDING - ESTABLISHING/MAINTAINING THE CREDIT OF OUR MEMBERS AND PROVIDING A LOWER COST BORROWING ALTERNATIVE.DEPOSIT PRODUCTS - ASSISTING MEMBERS WITH THE MANAGEMENT OF THEIR DAY TO DAY AND LONG TERM FINANCIAL NEEDS.INVESTMENTS/FINANCIAL PLANNING - ASSISTING MEMBERS WITH SHORT AND LONG TERM OBJECTIVES.COMMUNITY INVOLVEMENT WITH MAIN SEG - ADAMS 12 FIVE STAR SCHOOLS - INVOLVEMENT IN MANY ADAMS 12 PROGRAMS INCLUDING MENTORING, JUNIOR ACHIEVEMENT, SPONSORSHIPS, SCHOLARSHIPS.

As filed on the 2023 return.

Listed in Part VII

  • Marilyn Stansbury

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Robert Webber

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    4

  • Deborah Capra

    VICECHAIR

    Total calculated
    $0
    Hours/week
    2

  • Pat Hamilton

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Mark Hinson

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Nancy Sneath

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Bradley Harvey

    FORMER PRESIDENT/CEO

    Total calculated
    $208,951
    From this org
    $170,689
    From related orgs
    $0
    Other
    $38,262
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $170,689
    Bonus
    $0
    Other
    $0
    Deferred
    $4,879
    Nontaxable benefits
    $33,383
    Filer's total
    $208,951

  • Diane Arthur

    FORMER SVP/CFO

    Total calculated
    $96,012
    From this org
    $77,945
    From related orgs
    $0
    Other
    $18,067
    Hours/week
    40

  • Krista Burnell

    VP ORG DVLP

    Total calculated
    $117,100
    From this org
    $83,712
    From related orgs
    $0
    Other
    $33,388
    Hours/week
    40

  • William Fowler

    SVP - LENDING

    Total calculated
    $146,108
    From this org
    $115,584
    From related orgs
    $0
    Other
    $30,524
    Hours/week
    40

  • Thomas Flintrop

    SVP/CFO

    Total calculated
    $59,828
    From this org
    $50,219
    From related orgs
    $0
    Other
    $9,609
    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 · Discretionary spending account
  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 3 · Compensation committee
  • 3 · Compensation survey or study

Answered no

  • 2 · Substantiation required before reimbursing expenses
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 1A
THE REPORTED OFFICERS RECEIVE A PER DIEM CASH ALLOWANCE FOR BUSINESS TRIPS AND THE CEO ALSO RECEIVES A GYM MEMBERSHIP WITH ANNUAL DUES OF $413. SUBSTANTIATION IS NOT REQUIRED FOR THE CASH ALLOWANCE SINCE IT IS A PER DIEM AMOUNT. SUBSTANTIATION IS NOT REQUIRED FOR THE GYM MEMBERSHIPS AS IT HAS BEEN IN PLACE FOR MORE THEN 5 YEARS.

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
2023
Filed
7 November 2024
IRS schema version
2023v5.1
Source object
202443139349300219

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