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Nonprofiteer
← CREDIT UNIONS CHARTERED IN THE STATE OF COLORADO

Form 990 for tax year 2022

Filed by CREDIT UNIONS CHARTERED IN THE STATE OF COLORADO.

Totals

Total revenue
$2,350,802
Total expenses
$1,733,518
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,964,333
Investment income
$347,315
Other revenue
$39,154
Total assets, end of year
$53,043,202
Total liabilities, end of year
$48,167,582
Net assets or fund balances, end of year
$4,875,620
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 $1,676,190 · related or exempt $1,676,190

  • 2b · Program service revenue: FEES MEMBER SERVICE

    total $158,764 · related or exempt $158,764

  • 2c · Program service revenue: OTHER OPERATING INCOME

    total $129,379 · related or exempt $129,379

  • 3 · Investment income

    total $132,169 · excluded $132,169

  • 6a · Gross rents

    real property $23,952

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $23,952

  • 6d · Net rental income or loss

    total $23,952 · excluded $23,952

  • 7a · Gross sales of assets other than inventory

    other assets $425,000

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

    other assets $209,854

  • 7c · Gain or loss

    other assets $215,146

  • 7d · Net gain or loss

    total $215,146 · excluded $215,146

  • 11a · Other revenue: OTHER REVENUE

    total $15,202 · excluded $15,202

  • 11e · Other revenue, total

    $15,202

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $338,732

  • 7 · Other salaries and wages

    total $499,732

  • 8 · Pension plan contributions

    total -$216

  • 9 · Other employee benefits

    total $104,193

  • 10 · Payroll taxes

    total $42,052

  • 11c · Fees: accounting

    total $11,307

  • 11g · Fees: other

    total $330,863

  • 12 · Advertising and promotion

    total $14,488

  • 13 · Office expenses

    total $128,531

  • 16 · Occupancy

    total $83,074

  • 17 · Travel

    total $77

  • 22 · Depreciation, depletion and amortization

    total $42,983

  • 24a · Other expenses: LOAN SERVICING EXPENSE

    total $55,560

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

    total $43,724

  • 24c · Other expenses: ASSOCIATION DUES

    total $13,706

  • 24d · Other expenses: PROVISION FOR LOAN LOSS

    total $13,454

  • 24e · All other expenses

    total $11,258

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $489,541 · end of year $490,424

  • 2 · Savings and temporary cash investments

    beginning of year $2,258,234 · end of year $3,791,004

  • 7 · Other notes and loans receivable

    beginning of year $36,062,394 · end of year $35,088,817

  • 9 · Prepaid expenses and deferred charges

    beginning of year $67,204 · end of year $64,484

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

    $1,427,622

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

    $90,326

  • 10c · Land, buildings and equipment, net

    beginning of year $1,468,494 · end of year $1,337,296

  • 15 · Other assets

    beginning of year $9,482,936 · end of year $12,271,177

  • 17 · Accounts payable and accrued expenses

    beginning of year $119,078 · end of year $101,374

  • 25 · Other liabilities

    beginning of year $45,451,389 · end of year $48,066,208

  • 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 $4,258,336 · end of year $4,875,620

Mission and programs · 2022

Mission

TO SERVE AS THE PRIMARY FINANCIAL INSTITUTION OF THE CREDIT UNION'S MEMBERSHIP BY PROVIDING EFFICIENT SERVICES OF HIGH QUALITY, THUS PROMOTING THE PHILOSOPHY OF "PEOPLE HELPING PEOPLE".

  • THE CREDIT UNION IS OWNED BY APPROXIMATELY 4,200 MEMBERS. THE CREDIT UNION PROVIDES FINANCIAL SERVICES TO ITS MEMBERS, SUCH AS CONSUMER LENDING, MORTGAGE LENDING, CHECKING AND SAVINGS DEPOSIT AND CERTIFICATE ACCOUNTS, ATM, DEBIT AND CREDIT CARDS, AND OTHER FINANCIAL SERVICES.

As filed on the 2022 return.

Listed in Part VII

  • Judy Knott

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    3

  • Kenneth Jewell

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Paul McDermott

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Larry Swain

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Tom West

    SECR/TREAS

    Total calculated
    $0
    Hours/week
    2

  • Tara Salazar

    CEO

    Total calculated
    $190,718
    From this org
    $171,329
    From related orgs
    $0
    Other
    $19,389
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $136,116
    Bonus
    $24,041
    Other
    $11,172
    Deferred
    $9,866
    Nontaxable benefits
    $9,523
    Filer's total
    $190,718

  • Lynne Smith

    ASSISTANT MANAGER

    Total calculated
    $148,012
    From this org
    $134,997
    From related orgs
    $0
    Other
    $13,015
    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

  • 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

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
26 October 2023
IRS schema version
2022v5.0
Source object
202332999349302203

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