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Nonprofiteer
← DUTRAC COMMUNITY CREDIT UNION

Form 990 for tax year 2023

Filed by DUTRAC COMMUNITY CREDIT UNION.

Totals

Total revenue
$53,135,440
Total expenses
$48,362,996
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$48,331,709
Investment income
$4,343,515
Other revenue
$460,216
Total assets, end of year
$1,073,070,686
Total liabilities, end of year
$959,490,360
Net assets or fund balances, end of year
$113,580,326
Program services expenses (Part IX)
$48,362,996
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$48,362,997

Program services were 100.0% 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: LOANS TO MEMBERS

    total $39,508,860 · related or exempt $39,508,860

  • 2b · Program service revenue: FEES INCOME

    total $8,822,849 · related or exempt $8,822,849

  • 3 · Investment income

    total $4,591,533 · related or exempt $4,591,533

  • 7a · Gross sales of assets other than inventory

    securities -$239,855 · other assets -$8,163

  • 7c · Gain or loss

    securities -$239,855 · other assets -$8,163

  • 7d · Net gain or loss

    total -$248,018 · related or exempt -$248,018

  • 8c · Net income from fundraising events

    total $0

  • 11a · Other revenue: DUTRAC FINANCIAL GROUP

    total $290,070 · unrelated business $290,070

  • 11b · Other revenue: FCT INCOME

    total $53,867 · unrelated business $53,867

  • 11c · Other revenue: ATM SURCHARGES TO NON-MMB

    total $45,615 · unrelated business $45,615

  • 11d · All other revenue

    total $70,664 · related or exempt $70,664

  • 11e · Other revenue, total

    $460,216

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $2,573,892 · program services $2,573,892

  • 7 · Other salaries and wages

    total $8,138,612 · program services $8,138,612

  • 8 · Pension plan contributions

    total $403,139 · program services $403,139

  • 9 · Other employee benefits

    total $1,667,213 · program services $1,667,213

  • 10 · Payroll taxes

    total $750,007 · program services $750,007

  • 11a · Fees: management

    total $304,486 · program services $304,486

  • 11b · Fees: legal

    total $50,629 · program services $50,629

  • 11c · Fees: accounting

    total $61,076 · program services $61,076

  • 11g · Fees: other

    total $1,407,736 · program services $1,407,736

  • 12 · Advertising and promotion

    total $1,921,205 · program services $1,921,205

  • 13 · Office expenses

    total $4,778,595 · program services $4,778,595

  • 16 · Occupancy

    total $2,059,491 · program services $2,059,491

  • 17 · Travel

    total $187,288 · program services $187,288

  • 21 · Payments to affiliates

    total $64,222 · program services $64,222

  • 24a · Other expenses: LN SRV EXP/PROV LOAN LOSS

    total $5,714,404 · program services $5,714,404

  • 24b · Other expenses: COST OF FUNDS

    total $17,333,303 · program services $17,333,303

  • 24c · Other expenses: UBIT TAX

    total -$15,830 · program services -$15,830

  • 24d · Other expenses: MISC EXPENSE

    total $963,528 · program services $963,528

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $39,311,507 · end of year $19,876,303

  • 4 · Accounts receivable

    beginning of year $2,903,618 · end of year $3,129,729

  • 5 · Loans and receivables from officers and key people

    beginning of year $3,378,665 · end of year $3,430,781

  • 7 · Other notes and loans receivable

    beginning of year $785,943,962 · end of year $866,377,615

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,365,508 · end of year $3,732,639

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

    $38,205,167

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

    $18,438,450

  • 10c · Land, buildings and equipment, net

    beginning of year $17,222,120 · end of year $19,766,717

  • 11 · Investments: publicly traded securities

    beginning of year $173,527,875 · end of year $137,952,288

  • 15 · Other assets

    beginning of year $18,932,917 · end of year $18,804,614

  • 17 · Accounts payable and accrued expenses

    beginning of year $17,376,298 · end of year $20,341,239

  • 25 · Other liabilities

    beginning of year $921,249,280 · end of year $939,149,121

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $39,463,445 · end of year $47,857,311

  • 31 · Retained earnings, endowment or other funds

    beginning of year $66,497,149 · end of year $65,723,015

Mission and programs · 2023

Mission

PROMOTING THRIFT AMONG MEMBERS

Activities or mission (Part I)

Promoting thrift among Credit Union members

  • Granting affordable loans, promoting savings & thrift among 53,139 members.

    Expenses $48,362,997 · Revenue $53,135,440

  • See 4A

  • See 4A

As filed on the 2023 return.

Listed in Part VII

  • Andrew A Hawkinson

    PRESIDENTCEO

    Total calculated
    $560,419
    From this org
    $560,419
    From related orgs
    $0
    Other
    $0
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $523,877
    Bonus
    $27,794
    Other
    $8,748
    Deferred
    not reported
    Nontaxable benefits
    $6,137
    Filer's total
    $566,556

  • Ronald J Kinsella

    SENIOR VP LENDING

    Total calculated
    $191,475
    From this org
    $191,475
    From related orgs
    $0
    Other
    $0
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $182,008
    Bonus
    $7,958
    Other
    $1,509
    Deferred
    not reported
    Nontaxable benefits
    $5,811
    Filer's total
    $197,286

  • Lee M Hoerner

    SVP MEMBER SERVICE

    Total calculated
    $181,760
    From this org
    $181,760
    From related orgs
    $0
    Other
    $0
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $158,044
    Bonus
    $22,371
    Other
    $1,345
    Deferred
    not reported
    Nontaxable benefits
    $10,152
    Filer's total
    $191,912

  • Megan E Kelleher-Egan

    SVP HUMAN RESOURCES

    Total calculated
    $149,727
    From this org
    $149,727
    From related orgs
    $0
    Other
    $0
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $141,590
    Bonus
    $6,952
    Other
    $1,185
    Deferred
    not reported
    Nontaxable benefits
    $1,185
    Filer's total
    $150,912

  • Jason A Norton

    SVP MARKETING

    Total calculated
    $200,638
    From this org
    $200,638
    From related orgs
    $0
    Other
    $0
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $191,513
    Bonus
    $7,577
    Other
    $1,548
    Deferred
    not reported
    Nontaxable benefits
    $4,144
    Filer's total
    $204,782

  • Andrew K Lassen

    SENIOR VP IT

    Total calculated
    $195,068
    From this org
    $195,068
    From related orgs
    $0
    Other
    $0
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $171,685
    Bonus
    $22,886
    Other
    $497
    Deferred
    not reported
    Nontaxable benefits
    $9,394
    Filer's total
    $204,462

  • Kim M Adams

    SENIOR VP OPERATIONS

    Total calculated
    $132,636
    From this org
    $132,636
    From related orgs
    $0
    Other
    $0
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $124,983
    Bonus
    $6,097
    Other
    $1,556
    Deferred
    not reported
    Nontaxable benefits
    $6,080
    Filer's total
    $138,716

  • Michelle A Ariss

    SENIOR VP FINANCE

    Total calculated
    $199,445
    From this org
    $199,445
    From related orgs
    $0
    Other
    $0
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $175,229
    Bonus
    $23,445
    Other
    $771
    Deferred
    not reported
    Nontaxable benefits
    $10,527
    Filer's total
    $209,972

  • Kevin R Mueller

    TREASURER

    Total calculated
    $1,174
    From this org
    $1,174
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

    Schedule J breakdown matched by us

    Base
    not reported
    Bonus
    not reported
    Other
    $1,174
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $1,174

  • Daniel J Deutmeyer

    SECRETARY

    Total calculated
    $4,277
    From this org
    $4,277
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

    Schedule J breakdown matched by us

    Base
    not reported
    Bonus
    not reported
    Other
    $4,277
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $4,277

  • David W Eggers

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

    Schedule J breakdown matched by us

    Base
    not reported
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    not reported

  • Crenna M Brumwell

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

    Schedule J breakdown matched by us

    Base
    not reported
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    not reported

  • Chad M Kruse

    VICECHAIRPERSON

    Total calculated
    $1,168
    From this org
    $1,168
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

    Schedule J breakdown matched by us

    Base
    not reported
    Bonus
    not reported
    Other
    $1,168
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $1,168

  • Scott J Neyens

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

    Schedule J breakdown matched by us

    Base
    not reported
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    not reported

  • Harlen T Pedretti

    DIRECTOR

    Total calculated
    $0

    Schedule J breakdown matched by us

    Base
    not reported
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    not reported

  • Nicholas J Specht

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    4

    Schedule J breakdown matched by us

    Base
    not reported
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    not reported

  • John P Vail

    DIRECTOR

    Total calculated
    $4,314
    From this org
    $4,314
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

    Schedule J breakdown matched by us

    Base
    not reported
    Bonus
    not reported
    Other
    $4,314
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $4,314

  • Michael T Ready

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

    Schedule J breakdown matched by us

    Base
    not reported
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    not reported

  • Dennis Naranjo

    COMMERCIAL LENDER

    Total calculated
    $126,335
    From this org
    $126,335
    From related orgs
    $0
    Other
    $0
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $114,940
    Bonus
    $11,201
    Other
    $194
    Deferred
    not reported
    Nontaxable benefits
    $2,699
    Filer's total
    $129,034

  • Travis Phelan

    COMMERCIAL LENDER

    Total calculated
    $125,720
    From this org
    $125,720
    From related orgs
    $0
    Other
    $0
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $121,819
    Bonus
    $3,554
    Other
    $347
    Deferred
    not reported
    Nontaxable benefits
    $10,087
    Filer's total
    $135,807

  • Julie Soucinek

    MORTGAGE LOAN MANAGER

    Total calculated
    $143,130
    From this org
    $143,130
    From related orgs
    $0
    Other
    $0
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $82,415
    Bonus
    $60,125
    Other
    $590
    Deferred
    not reported
    Nontaxable benefits
    $5,720
    Filer's total
    $148,850

  • Jason R Bauer

    REGIONAL MANAGER SOUTH

    Total calculated
    $103,070
    From this org
    $103,070
    From related orgs
    $0
    Other
    $0
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $97,452
    Bonus
    $5,454
    Other
    $164
    Deferred
    not reported
    Nontaxable benefits
    $143
    Filer's total
    $103,213

  • Jeff A Koelker

    IT SECURITYNETWORK MG

    Total calculated
    $101,680
    From this org
    $101,680
    From related orgs
    $0
    Other
    $0
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $96,325
    Bonus
    $5,195
    Other
    $160
    Deferred
    not reported
    Nontaxable benefits
    $7,567
    Filer's total
    $109,247

  • Debra A Reiff

    CONTROLLER

    Total calculated
    $105,791
    From this org
    $105,791
    From related orgs
    $0
    Other
    $0
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $98,679
    Bonus
    $6,022
    Other
    $1,090
    Deferred
    not reported
    Nontaxable benefits
    $7,756
    Filer's total
    $113,547

  • Jeffrey Waller

    COMMERCIAL LENDING MGR

    Total calculated
    $144,854
    From this org
    $144,854
    From related orgs
    $0
    Other
    $0
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $138,370
    Bonus
    $5,860
    Other
    $624
    Deferred
    not reported
    Nontaxable benefits
    $1,595
    Filer's total
    $146,449

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

  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Written employment contract
  • 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
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

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
8 November 2024
IRS schema version
2023v5.1
Source object
202443139349301224

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