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Nonprofiteer
← FIRSTMARK CREDIT UNION

Form 990 for tax year 2022

Filed by FIRSTMARK CREDIT UNION.

Totals

Total revenue
$60,165,832
Total expenses
$54,389,298
Contributions and grants received
$0
Grants paid
$178,386
Program service revenue
$47,738,456
Investment income
$12,427,376
Other revenue
$0
Total assets, end of year
$1,229,028,062
Total liabilities, end of year
$1,158,841,635
Net assets or fund balances, end of year
$70,186,427
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% 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: PERSONAL LOANS

    total $17,768,820 · related or exempt $17,768,820

  • 2b · Program service revenue: OTHER

    total $16,586,930 · related or exempt $16,586,930

  • 2c · Program service revenue: REAL ESTATE LOANS

    total $9,802,239 · related or exempt $9,802,239

  • 2d · Program service revenue: CREDIT CARD LOANS

    total $3,462,189 · related or exempt $3,462,189

  • 2e · Program service revenue: NON MEMBER ATM FEES

    total $96,005 · unrelated business $96,005

  • 2f · All other program service revenue

    total $22,273 · unrelated business $22,273

  • 3 · Investment income

    total $11,641,491 · related or exempt $11,641,491

  • 7a · Gross sales of assets other than inventory

    securities $5,073,204 · other assets $1,614,707

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

    securities $5,065,595 · other assets $836,431

  • 7c · Gain or loss

    securities $7,609 · other assets $778,276

  • 7d · Net gain or loss

    total $785,885 · related or exempt $785,885

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $178,386

  • 5 · Compensation of officers, directors and key employees

    total $1,738,956

  • 7 · Other salaries and wages

    total $15,767,202

  • 9 · Other employee benefits

    total $2,631,862

  • 10 · Payroll taxes

    total $1,329,474

  • 11b · Fees: legal

    total $36,680

  • 11c · Fees: accounting

    total $240,338

  • 11f · Fees: investment management

    total $150,226

  • 11g · Fees: other

    total $4,535,838

  • 12 · Advertising and promotion

    total $1,802,415

  • 13 · Office expenses

    total $4,223,421

  • 16 · Occupancy

    total $2,413,441

  • 19 · Conferences, conventions and meetings

    total $292,755

  • 20 · Interest

    total $8,878,022

  • 22 · Depreciation, depletion and amortization

    total $1,959,607

  • 23 · Insurance

    total $270,222

  • 24a · Other expenses: DATA PROCESSING

    total $3,243,170

  • 24b · Other expenses: LOAN SERVICING

    total $2,938,006

  • 24c · Other expenses: PROVISION FOR LOAN LOSS

    total $1,291,666

  • 24d · Other expenses: ALL OTHER EXPENSES

    total $316,227

  • 24e · All other expenses

    total $151,384

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $12,776,901 · end of year $16,901,519

  • 4 · Accounts receivable

    beginning of year $5,303,844 · end of year $3,662,749

  • 5 · Loans and receivables from officers and key people

    end of year $14,823,984

  • 7 · Other notes and loans receivable

    beginning of year $658,146,452 · end of year $732,630,753

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,543,283 · end of year $2,532,691

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

    $53,523,736

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

    $21,686,423

  • 10c · Land, buildings and equipment, net

    beginning of year $24,507,108 · end of year $31,837,313

  • 11 · Investments: publicly traded securities

    beginning of year $436,889,866 · end of year $325,695,268

  • 12 · Investments: other securities

    beginning of year $60,358,492 · end of year $64,955,289

  • 15 · Other assets

    beginning of year $29,441,598 · end of year $35,988,496

  • 17 · Accounts payable and accrued expenses

    beginning of year $8,601,490 · end of year $6,658,836

  • 23 · Secured mortgages and notes payable

    beginning of year $59,406,653 · end of year $94,244,501

  • 25 · Other liabilities

    beginning of year $1,052,539,702 · end of year $1,057,938,298

  • 31 · Retained earnings, endowment or other funds

    beginning of year $109,419,699 · end of year $70,186,427

Mission and programs · 2022

Mission

SEE SCHEDULE O

Activities or mission (Part I)

TO HELP PEOPLE TO BETTER THEIR LIVES AND BUSINESSES.

  • FIRSTMARK CREDIT UNION, A MEMBER OWNED AND LOCALLY CONTROLLED FINANCIAL COOPERATIVE, IS DEDICATED TO MEETING THE FINANCIAL NEEDS OF MEMBERS; PROVIDING EXCELLENCE IN PERSONALIZED SERVICE; OFFERING INNOVATIVE AND COMPREHENSIVE PRODUCTS AND SERVICES; SAFEGUARDING MEMBER INVESTMENTS BY MAINTAINING FINANCIAL STRENGTH; BEING A RESPONSIBLE EMPLOYER BY ADDRESSING THE NEEDS OF EMPLOYEES; AND BEING A RESPONSIBLE CORPORATE CITIZEN IN THE COMMUNITY

As filed on the 2022 return.

Listed in Part VII

  • DONALD PINSON

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    5

  • MATTHEW RALPH

    TREASURER

    Total calculated
    $0
    Hours/week
    5

  • KYLE FRIESENHAHN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • RODOLFO PENA

    VICE CHAIRMA

    Total calculated
    $0
    Hours/week
    5

  • IGNACIO OROZCO JR

    SECRETARY

    Total calculated
    $0
    Hours/week
    5

  • CLARE COLEMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • REDELL ERVIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • DONALD JONES JR

    ADVISORY DIR

    Total calculated
    $0
    Hours/week
    5

  • BRIAN GOTTARDY

    ADVISORY DIR

    Total calculated
    $0
    Hours/week
    5

  • ERICKA OLIVAREZ

    ADVISORY DIR

    Total calculated
    $0
    Hours/week
    5

  • LLOYD VERSTUYFT

    ADVISORY DIR

    Total calculated
    $0
    Hours/week
    5

  • NATHANAEL TARWASOKONO

    PRESIDENT/CE

    Total calculated
    $506,251
    From this org
    $475,177
    From related orgs
    $0
    Other
    $31,074
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $461,681
    Bonus
    $1,322
    Other
    $12,174
    Deferred
    $18,300
    Nontaxable benefits
    $12,774
    Filer's total
    $506,251

  • MICHAEL GRUNDON

    CFO

    Total calculated
    $327,930
    From this org
    $242,811
    From related orgs
    $0
    Other
    $85,119
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $239,947
    Bonus
    $1,322
    Other
    $1,542
    Deferred
    $76,637
    Nontaxable benefits
    $8,482
    Filer's total
    $327,930

  • GREGG THORNE

    CAO

    Total calculated
    $288,799
    From this org
    $236,345
    From related orgs
    $0
    Other
    $52,454
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $226,888
    Bonus
    $1,322
    Other
    $8,135
    Deferred
    $40,033
    Nontaxable benefits
    $12,421
    Filer's total
    $288,799

  • RICHARD DANNY SMITH

    CHIEF EXP OF

    Total calculated
    $221,981
    From this org
    $197,334
    From related orgs
    $0
    Other
    $24,647
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $195,727
    Bonus
    $1,306
    Other
    $301
    Deferred
    $12,404
    Nontaxable benefits
    $12,243
    Filer's total
    $221,981

  • AARON BEDINGFIELD

    CHIEF TECH O

    Total calculated
    $212,919
    From this org
    $190,657
    From related orgs
    $0
    Other
    $22,262
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $173,706
    Bonus
    not reported
    Other
    $16,951
    Deferred
    $10,935
    Nontaxable benefits
    $11,327
    Filer's total
    $212,919

  • MICHAEL J POLIGALA

    VP HOME LEND

    Total calculated
    $210,755
    From this org
    $132,430
    From related orgs
    $0
    Other
    $78,325
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $131,733
    Bonus
    not reported
    Other
    $697
    Deferred
    $78,052
    Nontaxable benefits
    $273
    Filer's total
    $210,755

  • VERONICA TERAN

    VP OF ACCOUN

    Total calculated
    $199,756
    From this org
    $159,840
    From related orgs
    $0
    Other
    $39,916
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $157,523
    Bonus
    $2,095
    Other
    $222
    Deferred
    $31,605
    Nontaxable benefits
    $8,311
    Filer's total
    $199,756

  • MARY LEONARDI

    CPO

    Total calculated
    $192,031
    From this org
    $183,883
    From related orgs
    $0
    Other
    $8,148
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $143,311
    Bonus
    $5,222
    Other
    $35,350
    Deferred
    $3,946
    Nontaxable benefits
    $4,202
    Filer's total
    $192,031

  • DAVID PUENTE

    MANAGER HOME

    Total calculated
    $178,852
    From this org
    $137,768
    From related orgs
    $0
    Other
    $41,084
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $136,054
    Bonus
    $1,421
    Other
    $293
    Deferred
    $32,814
    Nontaxable benefits
    $8,270
    Filer's total
    $178,852

  • RICK NELSON

    VP OF BUS PA

    Total calculated
    $178,539
    From this org
    $161,289
    From related orgs
    $0
    Other
    $17,250
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $154,241
    Bonus
    $6,914
    Other
    $134
    Deferred
    $9,318
    Nontaxable benefits
    $7,932
    Filer's total
    $178,539

  • LAURA WARD

    CRO

    Total calculated
    $130,435
    From this org
    $123,513
    From related orgs
    $0
    Other
    $6,922
    Hours/week
    40

  • PRISCILLA NAVARRO-FOX

    FMR. CRO

    Total calculated
    $71,528
    From this org
    $58,706
    From related orgs
    $0
    Other
    $12,822
    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 · Compensation committee
  • 3 · Written employment contract
  • 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

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.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • FMCU FINANCIAL GROUP LLC

    C CORP · CUSO · TX · 100% owned · share of income $2,260 · share of assets $787,451 · controlled entity

    Directly controlled by FMCU

Provenance

Return type
form_990
Tax year
2022
Filed
15 November 2023
IRS schema version
2022v5.0
Source object
202313199349311211

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