Form 990 for tax year 2024
Filed by CREDIT UNIONS IN THE STATE OF CALIFORNIA.
Totals
- Total revenue
- $4,688,101
- Total expenses
- $4,304,148
- Contributions and grants received
- $0
- Grants paid
- $19,845
- Program service revenue
- $3,786,906
- Investment income
- $901,195
- Other revenue
- $0
- Total assets, end of year
- $94,012,475
- Total liabilities, end of year
- $85,146,776
- Net assets or fund balances, end of year
- $8,865,699
- 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 ON LOANS
total $2,904,117 · related or exempt $2,904,117
-
2b · Program service revenue: OTHER OPERATING INCOME
total $503,367 · related or exempt $489,414 · unrelated business $13,953
-
2c · Program service revenue: FEE INCOME
total $379,422 · related or exempt $324,624 · unrelated business $54,798
-
3 · Investment income
total $901,195 · related or exempt $901,195
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $17,345
-
2 · Grants to domestic individuals
total $2,500
-
5 · Compensation of officers, directors and key employees
total $357,278
-
7 · Other salaries and wages
total $1,260,168
-
8 · Pension plan contributions
total $110,668
-
11b · Fees: legal
total $17,160
-
11c · Fees: accounting
total $31,200
-
11g · Fees: other
total $170,633
-
12 · Advertising and promotion
total $100,115
-
13 · Office expenses
total $549,206
-
14 · Information technology
total $164,133
-
16 · Occupancy
total $202,330
-
17 · Travel
total $109,929
-
20 · Interest
total $668,293
-
22 · Depreciation, depletion and amortization
total $55,740
-
24a · Other expenses: CREDIT LOSS EXPENSE
total $267,934
-
24b · Other expenses: LOAN SERVICING EXPENSE
total $104,960
-
24c · Other expenses: MISC OPERATING EXPENSE
total $91,080
-
24d · Other expenses: OPERATING FEES
total $16,175
-
24e · All other expenses
total $7,301
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,142,791 · end of year $1,971,209
-
2 · Savings and temporary cash investments
beginning of year $1,844,973 · end of year $1,151,185
-
5 · Loans and receivables from officers and key people
end of year $1,493,265
-
9 · Prepaid expenses and deferred charges
beginning of year $142,427 · end of year $151,858
-
10a · Land, buildings and equipment: cost or other basis
$2,312,629
-
10b · Land, buildings and equipment: accumulated depreciation
$1,989,491
-
10c · Land, buildings and equipment, net
beginning of year $558,741 · end of year $323,138
-
11 · Investments: publicly traded securities
beginning of year $27,422,425 · end of year $28,709,764
-
13 · Investments: program-related
beginning of year $61,053,695 · end of year $57,943,924
-
15 · Other assets
beginning of year $2,018,406 · end of year $2,268,132
-
17 · Accounts payable and accrued expenses
beginning of year $1,152,212 · end of year $630,443
-
25 · Other liabilities
beginning of year $85,563,897 · end of year $84,516,333
-
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 $7,467,349 · end of year $8,865,699
Mission and programs · 2024
Mission
A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT ANDSAVINGS AMONG ITS MEMBERS, CREATING A SOURCE OF CREDIT FOR THEM AT RATES OF INTEREST SET BY THE BOARD OF DIRECTORS, AND PROVIDING AN OPPORTUNITY FOR THEM TO USE AND CONTROL THEIR OWN MONEY ON A DEMOCRATIC BASIS IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS. AS A COOPERATIVE, UPWARD CREDIT UNION CONDUCTSITS BUSINESS FOR THE MUTUAL BENEFIT AND GENERAL WELFARE OF ITSMEMBERS WITH THE EARNINGS, SAVINGS, BENEFITS, OR SERVICES OF THE CREDIT UNION BEING DISTRIBUTED TO ITS MEMBERS AS PATRONS.
Activities or mission (Part I)
A COOPERATIVE ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS.
-
UPWARD CREDIT UNION BECAME A SHARED BRANCH AND JOINED VALERA'S SHARED BRANCH NETWORK, PROVIDING MEMBERS WITH GREATER CONVENIENCE AND FLEXIBILITY IN MANAGING THEIR ACCOUNTS.
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Annie MillerANNIE MILLER
CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
Theodore CelentinoTHEODORE CELENTINO
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
Angela DavisANGELA DAVIS
TREASURER
- Total calculated
- $0
- Hours/week
- 2
-
Abby VillavicencioABBY VILLAVICENCIO
SECRETARY
- Total calculated
- $0
- Hours/week
- 2
-
Reed GrahamREED GRAHAM
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Kaylyn DawkinsKAYLYN DAWKINS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Karen DawkinsKAREN DAWKINS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Matthew T RingMATTHEW T RING
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Ted Durkan CelentinoTED DURKAN CELENTINO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Theresa ChaseTHERESA CHASE
SUPV CMTE CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
Ann BrownANN BROWN
SUPV CMTE MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Clarence DickersonCLARENCE DICKERSON
SUPV CMTE MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Jason Mertz-PrickettJASON MERTZ-PRICKETT
PRESIDENT & CEO
- Total calculated
- $223,934
- From this org
- $211,177
- From related orgs
- $0
- Other
- $12,757
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $202,278
- Bonus
- $6,778
- Other
- $2,121
- Deferred
- $12,757
- Nontaxable benefits
- $0
- Filer's total
- $223,934
-
Anthony ChaviraANTHONY CHAVIRA
COO
- Total calculated
- $152,064
- From this org
- $146,101
- From related orgs
- $0
- Other
- $5,963
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $141,021
- Bonus
- $4,918
- Other
- $162
- Deferred
- $5,963
- Nontaxable benefits
- $0
- Filer's total
- $152,064
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 · 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)
- PART I, LINE 4B
- THE CREDIT UNION ENTERED INTO COLLATERAL SPLIT-DOLLAR LIFE INSURANCE AGREEMENTS FOR A KEY EMPLOYEE IN 2019. THE KEY EMPLOYEE HAS SINCE RETIRED IN 2022. DURING 2024, THE CREDIT UNION ENTERED INTO A CONVERTIBLE SPLIT DOLLAR LIFE INSURANCE AGREEMENT WITH ITS EXECUTIVE OFFICER, UNDER WHICH THE CREDIT UNION AND THE EXECUTIVE SHARE THE RIGHTS TO THE POLICY'S CASH VALUE AND DEATH BENEFIT. THE EXECUTIVE RECOGNIZES THE ECONOMIC BENEFIT OF THE LIFE INSURANCE AS INCOME. AS OF DECEMBER 31, 2024, THE CARRYING AMOUNT OF THE RELATED ASSET IS $199,134.
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
-
TO ASSIST IN IMPROVING PATIENT CARE, ADVANCING MEDICAL PROGRAMS, AND PROMOTING COMMUNITY HEALTH.
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 13 November 2025
- IRS schema version
- 2024v5.2
- Source object
- 202503189349308050
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