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← 0005 WRIGHT-PATT CREDIT UNION

Form 990 for tax year 2023

Filed by 0005 WRIGHT-PATT CREDIT UNION.

Totals

Total revenue
$518,010,000
Total expenses
$447,378,000
Contributions and grants received
$0
Grants paid
$836,456
Program service revenue
$514,871,580
Investment income
$3,138,420
Other revenue
$0
Total assets, end of year
$8,334,337,144
Total liabilities, end of year
$7,576,060,251
Net assets or fund balances, end of year
$758,276,893
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$0

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 - LOANS

    total $350,547,000 · related or exempt $350,547,000

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

    total $88,181,050 · related or exempt $73,456,370 · unrelated business $14,724,680

  • 2c · Program service revenue: INT-INVEST SECURITIES

    total $75,890,000 · related or exempt $75,890,000

  • 2d · Program service revenue: UNRELATED PARTNERSHIP INCOME

    total $253,530 · unrelated business $253,530

  • 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

  • 7a · Gross sales of assets other than inventory

    other assets $3,138,420

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

    other assets $0

  • 7c · Gain or loss

    securities $0 · other assets $3,138,420

  • 7d · Net gain or loss

    total $3,138,420 · related or exempt $3,138,420

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $836,456

  • 5 · Compensation of officers, directors and key employees

    total $7,511,890

  • 7 · Other salaries and wages

    total $86,827,419

  • 8 · Pension plan contributions

    total $6,785,625

  • 9 · Other employee benefits

    total $17,507,276

  • 10 · Payroll taxes

    total $7,162,324

  • 11b · Fees: legal

    total $481,009

  • 11c · Fees: accounting

    total $668,510

  • 11f · Fees: investment management

    total $585,677

  • 11g · Fees: other

    total $3,825,886

  • 12 · Advertising and promotion

    total $6,205,542

  • 13 · Office expenses

    total $7,848,936

  • 14 · Information technology

    total $5,465,849

  • 16 · Occupancy

    total $7,826,510

  • 17 · Travel

    total $807,351

  • 19 · Conferences, conventions and meetings

    total $96,019

  • 20 · Interest

    total $158,800,647

  • 22 · Depreciation, depletion and amortization

    total $9,444,319

  • 23 · Insurance

    total $772,432

  • 24a · Other expenses: BAD DEBT EXPENSE

    total $55,270,503

  • 24b · Other expenses: LOAN SERVICING EXPENSE

    total $16,001,205

  • 24c · Other expenses: OUTSIDE SERVICES

    total $27,889,213

  • 24d · Other expenses: PATRONAGE DIVIDENDS

    total $8,065,653

  • 24e · All other expenses

    total $10,691,749

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $598,119,860 · end of year $457,520,000

  • 2 · Savings and temporary cash investments

    beginning of year $81,855,000 · end of year $93,751,000

  • 5 · Loans and receivables from officers and key people

    beginning of year $53,230,096 · end of year $64,572,084

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $5,616,576,793 · end of year $5,961,827,916

  • 9 · Prepaid expenses and deferred charges

    beginning of year $5,189,252 · end of year $4,881,934

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

    $147,204,685

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

    $72,163,541

  • 10c · Land, buildings and equipment, net

    beginning of year $68,916,433 · end of year $75,041,144

  • 11 · Investments: publicly traded securities

    beginning of year $11,452,075 · end of year $0

  • 12 · Investments: other securities

    beginning of year $1,107,215,300 · end of year $1,411,964,000

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $251,898,436 · end of year $264,779,066

  • 17 · Accounts payable and accrued expenses

    beginning of year $108,918,152 · end of year $118,008,315

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $516,715,296 · end of year $505,995,271

  • 25 · Other liabilities

    beginning of year $6,467,760,396 · end of year $6,952,056,665

  • 31 · Retained earnings, endowment or other funds

    beginning of year $701,059,401 · end of year $758,276,893

Mission and programs · 2023

Mission

THE ORGANIZATION'S MISSION IS TO HELP PEOPLE THROUGH LIFE, WHICH INCLUDES: TO PROMOTE THRIFT AMONG ITS MEMBERS; TO ESTABLISH, ON A COOPERATIVE BASIS, FACILITIES FOR SAVINGS; TO PROVIDE CREDIT FOR PROVIDENT AND PRODUCTIVE PURPOSES; TO PROVIDE ASSISTANCE TO ITS MEMBERS FOR EFFECTIVE USE OF THEIR ASSETS AND RESOURCES; AND ALL ACTIVITIES NECESSARY AND INCIDENTAL THERETO.

Activities or mission (Part I)

TO PROMOTE THRIFT SAVINGS, BORROWING, AND FINANCIAL SERVICES AMONG ITS MEMBERS.

  • DIVIDENDS PAID TO MEMBERS ON APPROXIMATELY 1,120,947 DEPOSIT ACCOUNTS HELD BY APPROXIMATELY 503,041 MEMBERS (DIVIDENDS $148,007,873; INCLUDING A SPECIAL PATRONAGE DIVIDEND OF $8,065,653).

  • DIRECT LABOR AND EMPLOYEE BENEFITS COSTS INCURRED TO PROVIDE DEPOSIT SERVICES, ORIGINATE LOANS, AND SERVICE LOANS FOR MEMBERS TOTALED $127,844,668.

  • BRANCH OFFICE OCCUPANCY AND OPERATIONS SERVICES 35 BRICK AND MORTAR BRANCHES PLUS TWO CALL CENTERS PROVIDES PHYSICAL LOCATION FOR PERSON TO PERSON FINANCIAL SERVICES.

As filed on the 2023 return.

Listed in Part VII

  • Adam M Scheetz

    DIRECTOR

    Total calculated
    $14,400
    From this org
    $14,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Bonnie Smith

    DIRECTOR; TREASURER

    Total calculated
    $16,540
    From this org
    $16,540
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Dr Charles H Showell Jr

    DIRECTOR; SECRETARY

    Total calculated
    $14,477
    From this org
    $14,477
    From related orgs
    $0
    Other
    $0
    Hours/week
    2 + 1 related

  • Dr Robert J Sweeney

    DIRECTOR

    Total calculated
    $14,400
    From this org
    $14,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Joseph H Mucci

    DIRECTOR; CHAIR

    Total calculated
    $16,800
    From this org
    $16,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Joseph L Linsenmeyer

    DIRECTOR; VICE CHAIR

    Total calculated
    $18,076
    From this org
    $18,076
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Leah C Hanseman

    DIRECTOR

    Total calculated
    $14,400
    From this org
    $14,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Michael D McGrath

    DIRECTOR, ASSISTANT SECRETARY (END DATE 01/2023)

    Total calculated
    $1,200
    From this org
    $1,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Nicholas Endsley

    DIRECTOR; ASSISTANT TREASURER

    Total calculated
    $15,826
    From this org
    $15,826
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Rachel Goodspeed

    DIRECTOR; ASSISTANT SECRETARY

    Total calculated
    $14,400
    From this org
    $14,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Amy Reilly

    CHIEF ADMINISTRATIVE OFFICER

    Total calculated
    $490,758
    From this org
    $445,775
    From related orgs
    $0
    Other
    $44,983
    Hours/week
    39 + 1 related

    Schedule J breakdown matched by us

    Base
    $322,082
    Bonus
    $97,015
    Other
    $26,678
    Deferred
    $25,133
    Nontaxable benefits
    $19,850
    Filer's total
    $490,758

  • Brent Carroll

    MARKET PRESIDENT - COLUMBUS MARKET

    Total calculated
    $93,274
    From this org
    $87,588
    From related orgs
    $0
    Other
    $5,686
    Hours/week
    40

  • Cathleen Wyatt

    VP, ASSISTANT GENERAL COUNSEL

    Total calculated
    $68,191
    From this org
    $61,704
    From related orgs
    $0
    Other
    $6,487
    Hours/week
    40

  • Christopher Johnson

    VP OF INTERNAL AUDIT

    Total calculated
    $271,644
    From this org
    $228,842
    From related orgs
    $0
    Other
    $42,802
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $172,462
    Bonus
    $50,115
    Other
    $6,265
    Deferred
    $18,319
    Nontaxable benefits
    $24,483
    Filer's total
    $271,644

  • Christopher Mulkey

    VP, CONSUMER LENDING

    Total calculated
    $226,934
    From this org
    $213,485
    From related orgs
    $0
    Other
    $13,449
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $185,808
    Bonus
    $25,015
    Other
    $2,662
    Deferred
    $13,449
    Nontaxable benefits
    $0
    Filer's total
    $226,934

  • Daniel G Smith

    CHIEF FINANCIAL OFFICER

    Total calculated
    $634,342
    From this org
    $578,662
    From related orgs
    $0
    Other
    $55,680
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $297,311
    Bonus
    $97,115
    Other
    $184,236
    Deferred
    $26,320
    Nontaxable benefits
    $29,360
    Filer's total
    $634,342

  • Eric Bugger

    CHIEF LENDING OFFICER

    Total calculated
    $480,162
    From this org
    $424,658
    From related orgs
    $0
    Other
    $55,504
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $291,561
    Bonus
    $95,015
    Other
    $38,082
    Deferred
    $26,400
    Nontaxable benefits
    $29,104
    Filer's total
    $480,162

  • Jason Frantz

    VP, FRAUD RISK MANAGEMENT

    Total calculated
    $144,152
    From this org
    $124,076
    From related orgs
    $0
    Other
    $20,076
    Hours/week
    40

  • Jennifer Ogden

    CHIEF RISK OFFICER

    Total calculated
    $440,318
    From this org
    $404,309
    From related orgs
    $0
    Other
    $36,009
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $281,698
    Bonus
    $84,015
    Other
    $38,596
    Deferred
    $25,005
    Nontaxable benefits
    $11,004
    Filer's total
    $440,318

  • Kevin Johnson

    CHIEF INFORMATION OFFICER

    Total calculated
    $355,526
    From this org
    $332,836
    From related orgs
    $0
    Other
    $22,690
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $242,037
    Bonus
    $62,550
    Other
    $28,249
    Deferred
    $22,498
    Nontaxable benefits
    $192
    Filer's total
    $355,526

  • Kimberly Riley

    SENIOR VP, MEMBER EXPERIENCE

    Total calculated
    $357,184
    From this org
    $307,960
    From related orgs
    $0
    Other
    $49,224
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $241,189
    Bonus
    $60,115
    Other
    $6,656
    Deferred
    $21,865
    Nontaxable benefits
    $27,359
    Filer's total
    $357,184

  • Mallory Johnson Sestic

    VP, ASSISTANT GENERAL COUNSEL

    Total calculated
    $334,007
    From this org
    $284,061
    From related orgs
    $0
    Other
    $49,946
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $224,876
    Bonus
    $55,015
    Other
    $4,170
    Deferred
    $20,586
    Nontaxable benefits
    $29,360
    Filer's total
    $334,007

  • Michael Dietz

    VP, MEMBER BUSINESS SERVICES

    Total calculated
    $235,186
    From this org
    $193,838
    From related orgs
    $0
    Other
    $41,348
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $189,922
    Bonus
    $15
    Other
    $3,901
    Deferred
    $15,744
    Nontaxable benefits
    $25,604
    Filer's total
    $235,186

  • Michael Phillips

    VP, INFORMATION TECHNOLOGY

    Total calculated
    $48,768
    From this org
    $46,516
    From related orgs
    $0
    Other
    $2,252
    Hours/week
    40

  • Molly Lampe

    CHIEF LEGAL OFFICER

    Total calculated
    $443,669
    From this org
    $390,239
    From related orgs
    $0
    Other
    $53,430
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $265,436
    Bonus
    $86,515
    Other
    $38,288
    Deferred
    $24,886
    Nontaxable benefits
    $28,544
    Filer's total
    $443,669

  • Rosanne Schutzman

    CHIEF OPERATING OFFICER

    Total calculated
    $537,039
    From this org
    $498,835
    From related orgs
    $0
    Other
    $38,204
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $330,400
    Bonus
    $105,215
    Other
    $63,220
    Deferred
    $26,400
    Nontaxable benefits
    $11,804
    Filer's total
    $537,039

  • Stephanie R Mason

    SENIOR VP, COMPLIANCE & BSA

    Total calculated
    $358,028
    From this org
    $317,478
    From related orgs
    $0
    Other
    $40,550
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $249,140
    Bonus
    $62,015
    Other
    $6,323
    Deferred
    $22,480
    Nontaxable benefits
    $18,070
    Filer's total
    $358,028

  • Timothy Mislansky

    PRESIDENT & CEO

    Total calculated
    $1,123,660
    From this org
    $1,022,274
    From related orgs
    $0
    Other
    $101,386
    Hours/week
    39 + 1 related

    Schedule J breakdown matched by us

    Base
    $656,996
    Bonus
    $165,015
    Other
    $200,263
    Deferred
    $72,576
    Nontaxable benefits
    $28,810
    Filer's total
    $1,123,660

  • Todd Elliott

    MARKET PRESIDENT - COLUMBUS MARKET (END 02/2023)

    Total calculated
    $109,302
    From this org
    $103,153
    From related orgs
    $0
    Other
    $6,149
    Hours/week
    40

  • Tracy Szarzi-Fors

    SENIOR VP, MARKETING & BUSINESS DEVELOPMENT

    Total calculated
    $355,592
    From this org
    $313,409
    From related orgs
    $0
    Other
    $42,183
    Hours/week
    27 + 13 related

    Schedule J breakdown matched by us

    Base
    $219,486
    Bonus
    $60,015
    Other
    $33,908
    Deferred
    $21,233
    Nontaxable benefits
    $20,950
    Filer's total
    $355,592

  • Frank Petrie

    DIRECTOR, RETAIL MORTGAGE ORIGINATIONS

    Total calculated
    $263,635
    From this org
    $221,998
    From related orgs
    $0
    Other
    $41,637
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $107,168
    Bonus
    $108,198
    Other
    $6,632
    Deferred
    $18,007
    Nontaxable benefits
    $23,630
    Filer's total
    $263,635

  • John Sagraves

    SENIOR FINANCIAL ADVISOR

    Total calculated
    $349,767
    From this org
    $295,251
    From related orgs
    $0
    Other
    $54,516
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $290,237
    Other
    $5,014
    Deferred
    $24,162
    Nontaxable benefits
    $30,354
    Filer's total
    $349,767

  • Michael K Thompson

    SENIOR FINANCIAL ADVISOR

    Total calculated
    $384,625
    From this org
    $341,940
    From related orgs
    $0
    Other
    $42,685
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $337,124
    Other
    $4,816
    Deferred
    $26,400
    Nontaxable benefits
    $16,285
    Filer's total
    $384,625

  • Paul Sutor

    INTERIM PRESIDENT OF MYCU MORTGAGE

    Total calculated
    $313,022
    From this org
    $272,542
    From related orgs
    $0
    Other
    $40,480
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $221,153
    Bonus
    $45,015
    Other
    $6,374
    Deferred
    $21,843
    Nontaxable benefits
    $18,637
    Filer's total
    $313,022

  • Steven Harrell

    DIRECTOR, RETIREMENT SOLUTIONS

    Total calculated
    $461,767
    From this org
    $411,737
    From related orgs
    $0
    Other
    $50,030
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $80,100
    Bonus
    $314,839
    Other
    $16,798
    Deferred
    $26,400
    Nontaxable benefits
    $23,630
    Filer's total
    $461,767

  • Tonya Coon

    PRESIDENT OF MYCU MORTGAGE (END 07/2023)

    Total calculated
    $327,263
    From this org
    $299,855
    From related orgs
    $0
    Other
    $27,408
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $193,968
    Bonus
    $85,215
    Other
    $20,672
    Deferred
    $15,385
    Nontaxable benefits
    $12,023
    Filer's total
    $327,263

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 · Travel for companions
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 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 Travel for companions
CERTAIN BOARD MEMBERS RECEIVE COMPANION TRAVEL (INCLUDED IN TAXABLE COMPENSATION).
Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan
WRIGHT-PATT CREDIT UNION PARTICIPATES IN A 457(F) PLAN. TIMOTHY MISLANSKY PARTICIPATED IN A 457F PLAN AS OF 1/1/2022. AS OF 12/31/2023, THE REMAINING PLAN HAD A BALANCE OF $272,473. The amount vested during 2023 was $161,133.

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.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

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.

  • MYCU MORTGAGE LLC

    MRTG PROCESS · OH · income $18,181,311 · assets $65,874,199

    Directly controlled by WRIGHT-PATT

  • WRIGHT-PATT HOLDINGS LLC

    CUSO HOLDING · OH · income $121,520 · assets $8,852,600

    Directly controlled by WRIGHT-PATT

  • NWU COLLABORATIVE LLC

    CUSO HOLDING · OH · income -$67,379 · assets $182,621

    Directly controlled by WRIGHT-PATT

Related partnerships

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

  • GOVERNMENT GUARANTEED LENDING

    Related · LOAN SERVICING · OH · 60% owned · share of income $820,354 · share of assets $0

    Directly controlled by WRIGHT-PATT

  • WRIGHT-PATT INSURANCE PRODUCTS

    Related · INSURANCE · OH · 90% owned · share of income $296,746 · share of assets $1,642,834 · general or managing partner

    Directly controlled by WRIGHT-PATT

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202443209349304004

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