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Nonprofiteer
← DUTRAC COMMUNITY CREDIT UNION

Form 990 for tax year 2024

Filed by DUTRAC COMMUNITY CREDIT UNION.

Totals

Total revenue
$62,472,471
Total expenses
$58,553,473
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$55,419,094
Investment income
$6,666,876
Other revenue
$386,501
Total assets, end of year
$1,178,840,167
Total liabilities, end of year
$1,060,897,346
Net assets or fund balances, end of year
$117,942,821
Program services expenses (Part IX)
$58,553,473
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$58,533,473

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 Member

    total $47,446,377 · related or exempt $47,446,377

  • 2b · Program service revenue: Fees and Income

    total $7,972,717 · related or exempt $7,972,717

  • 3 · Investment income

    total $6,580,403 · related or exempt $6,580,403

  • 7a · Gross sales of assets other than inventory

    securities $108,059

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

    securities $21,586

  • 7c · Gain or loss

    securities $86,473

  • 7d · Net gain or loss

    total $86,473 · related or exempt $86,473

  • 8c · Net income from fundraising events

    total $0

  • 11a · Other revenue: DuTrac Financial Group

    total $215,424 · unrelated business $215,424

  • 11b · Other revenue: FCT Income

    total $57,453 · unrelated business $57,453

  • 11c · Other revenue: ATM Surcharge to Non-Mbrs

    total $46,093 · unrelated business $46,093

  • 11d · All other revenue

    total $67,531 · related or exempt $67,531

  • 11e · Other revenue, total

    $386,501

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $2,358,784 · program services $2,358,784

  • 7 · Other salaries and wages

    total $9,129,006 · program services $9,129,006

  • 8 · Pension plan contributions

    total $395,082 · program services $395,082

  • 9 · Other employee benefits

    total $1,716,079 · program services $1,716,079

  • 10 · Payroll taxes

    total $782,707 · program services $782,707

  • 11a · Fees: management

    total $139,855 · program services $139,855

  • 11b · Fees: legal

    total $54,555 · program services $54,555

  • 11c · Fees: accounting

    total $81,427 · program services $81,427

  • 11g · Fees: other

    total $1,287,663 · program services $1,287,663

  • 12 · Advertising and promotion

    total $1,954,734 · program services $1,954,734

  • 13 · Office expenses

    total $5,006,425 · program services $5,006,425

  • 16 · Occupancy

    total $2,611,636 · program services $2,611,636

  • 17 · Travel

    total $180,731 · program services $180,731

  • 21 · Payments to affiliates

    total $70,815 · program services $70,815

  • 24a · Other expenses: Ln Srv ExpProv ln loss

    total $6,179,893 · program services $6,179,893

  • 24b · Other expenses: Cost of Funds

    total $25,937,328 · program services $25,937,328

  • 24c · Other expenses: Ubit Tax

    total -$931 · program services -$931

  • 24d · Other expenses: Misc Expense

    total $667,684 · program services $667,684

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $19,876,303 · end of year $20,877,681

  • 4 · Accounts receivable

    beginning of year $3,129,729 · end of year $2,291,675

  • 5 · Loans and receivables from officers and key people

    beginning of year $3,430,781 · end of year $2,812,423

  • 7 · Other notes and loans receivable

    beginning of year $866,377,615 · end of year $888,213,830

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,732,639 · end of year $3,569,960

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

    $42,261,398

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

    $19,713,806

  • 10c · Land, buildings and equipment, net

    beginning of year $19,766,717 · end of year $22,547,592

  • 11 · Investments: publicly traded securities

    beginning of year $137,952,288 · end of year $217,549,813

  • 15 · Other assets

    beginning of year $18,804,614 · end of year $20,977,193

  • 17 · Accounts payable and accrued expenses

    beginning of year $20,341,239 · end of year $11,314,921

  • 25 · Other liabilities

    beginning of year $939,149,121 · end of year $1,049,582,425

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

    beginning of year $47,857,311 · end of year $52,219,806

  • 31 · Retained earnings, endowment or other funds

    beginning of year $65,723,015 · end of year $65,723,015

Mission and programs · 2024

Mission

PROMOTING THRIFT AMONG MEMBERS

Activities or mission (Part I)

Promoting thrift among Credit Union members

  • Granting affordable loans, promoting savings and thrift among 53,278 members

    Expenses $58,533,473 · Revenue $62,472,470

As filed on the 2024 return.

Listed in Part VII

  • Andrew A Hawkinson

    PRESIDENTCEO

    Total calculated
    $662,084
    From this org
    $656,368
    From related orgs
    $0
    Other
    $5,716
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $601,603
    Bonus
    $45,317
    Other
    $9,448
    Deferred
    not reported
    Nontaxable benefits
    $5,716
    Filer's total
    $662,084

  • Michelle A Ariss

    SENIOR VP FINANCE

    Total calculated
    $275,614
    From this org
    $188,948
    From related orgs
    $0
    Other
    $86,666
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $179,566
    Bonus
    $7,913
    Other
    $1,469
    Deferred
    $75,000
    Nontaxable benefits
    $11,666
    Filer's total
    $275,614

  • Kim M Adams

    SENIOR VP OPERATIONS

    Total calculated
    $195,038
    From this org
    $139,275
    From related orgs
    $0
    Other
    $55,763
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $133,845
    Bonus
    $3,267
    Other
    $2,163
    Deferred
    $50,000
    Nontaxable benefits
    $5,763
    Filer's total
    $195,038

  • Ronald J Kinsella

    SENIOR VP LENDING

    Total calculated
    $193,424
    From this org
    $186,450
    From related orgs
    $0
    Other
    $6,974
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $183,437
    Bonus
    not reported
    Other
    $3,013
    Deferred
    not reported
    Nontaxable benefits
    $6,974
    Filer's total
    $193,424

  • Andrew K Lassen

    SENIOR VP IT

    Total calculated
    $188,933
    From this org
    $179,178
    From related orgs
    $0
    Other
    $9,755
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $177,749
    Bonus
    not reported
    Other
    $1,429
    Deferred
    not reported
    Nontaxable benefits
    $9,755
    Filer's total
    $188,933

  • Julie Soucinek

    MORTGAGE LOAN MANAGER

    Total calculated
    $180,013
    From this org
    $174,204
    From related orgs
    $0
    Other
    $5,809
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $85,222
    Bonus
    $88,061
    Other
    $921
    Deferred
    not reported
    Nontaxable benefits
    $5,809
    Filer's total
    $180,013

  • Lee M Hoerner

    SVP MEMBER SERVICE

    Total calculated
    $179,777
    From this org
    $169,624
    From related orgs
    $0
    Other
    $10,153
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $167,589
    Bonus
    not reported
    Other
    $2,035
    Deferred
    not reported
    Nontaxable benefits
    $10,153
    Filer's total
    $179,777

  • Megan E Kelleher-Egan

    SVP HUMAN RESOURCES

    Total calculated
    $168,747
    From this org
    $157,032
    From related orgs
    $0
    Other
    $11,715
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $151,630
    Bonus
    $3,588
    Other
    $1,814
    Deferred
    not reported
    Nontaxable benefits
    $11,715
    Filer's total
    $168,747

  • Travis Phelan

    COMMERCIAL LENDER

    Total calculated
    $153,269
    From this org
    $142,643
    From related orgs
    $0
    Other
    $10,626
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $129,549
    Bonus
    $12,262
    Other
    $832
    Deferred
    not reported
    Nontaxable benefits
    $10,626
    Filer's total
    $153,269

  • Jeffrey Waller

    COMMERCIAL LENDING MGR

    Total calculated
    $150,194
    From this org
    $149,194
    From related orgs
    $0
    Other
    $1,000
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $147,414
    Bonus
    not reported
    Other
    $1,780
    Deferred
    not reported
    Nontaxable benefits
    $1,000
    Filer's total
    $150,194

  • Dennis Naranjo

    COMMERCIAL LENDER

    Total calculated
    $134,903
    From this org
    $132,973
    From related orgs
    $0
    Other
    $1,930
    Hours/week
    45

  • Jason A Norton

    SVP MARKETING

    Total calculated
    $102,074
    From this org
    $100,481
    From related orgs
    $0
    Other
    $1,593
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $99,348
    Bonus
    not reported
    Other
    $1,133
    Deferred
    not reported
    Nontaxable benefits
    $1,593
    Filer's total
    $102,074

  • Harlen T Pedretti

    DIRECTOR

    Total calculated
    $2,717
    From this org
    $2,717
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Daniel J Deutmeyer

    SECRETARY

    Total calculated
    $1,584
    From this org
    $1,584
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Crenna M Brumwell

    DIRECTOR

    Total calculated
    $1,424
    From this org
    $1,424
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Chad M Kruse

    VICECHAIRPERSON

    Total calculated
    $988
    From this org
    $988
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Scott J Neyens

    DIRECTOR

    Total calculated
    $810
    From this org
    $810
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • John P Vail

    DIRECTOR

    Total calculated
    $799
    From this org
    $799
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Kevin R Mueller

    TREASURER

    Total calculated
    $760
    From this org
    $760
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • David W Eggers

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Nicholas J Specht

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    0

  • Michael T Ready

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Teri Zuccaro

    Treasurer

    Total calculated
    $0
    Hours/week
    2

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
  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 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
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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

The filer's explanations (Part III)

Part I, Line 1a

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
2024
Filed
12 November 2025
IRS schema version
2024v5.2
Source object
202533169349307608

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