Totals
- Total revenue
- $376,561,824
- Total expenses
- $290,538,957
- Contributions and grants received
- $0
- Grants paid
- $1,457,591
- Program service revenue
- $251,917,754
- Investment income
- $111,341,943
- Other revenue
- $13,302,127
- Total assets, end of year
- $8,192,281,897
- Total liabilities, end of year
- $7,723,734,301
- Net assets or fund balances, end of year
- $468,547,596
- 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: LOAN & LEASE INCOME
total $129,796,032 · related or exempt $129,796,032
-
2b · Program service revenue: FEES & OTHER OPERATING
total $115,582,583 · related or exempt $115,582,583
-
2c · Program service revenue: PROFESSIONAL, SCIENTIF
total $4,531,254 · unrelated business $4,531,254
-
2d · Program service revenue: FINANCE & INSURANCE
total $2,007,885 · unrelated business $2,007,885
-
3 · Investment income
total $111,621,732 · excluded $111,621,732
-
6a · Gross rents
real property $1,231,704
-
6b · Less rental expenses
real property $1,321,525
-
6c · Rental income or loss
real property -$89,821
-
6d · Net rental income or loss
total -$89,821 · related or exempt -$89,821
-
7a · Gross sales of assets other than inventory
other assets $4,139,929
-
7b · Less cost or other basis and sales expenses
other assets $4,419,718
-
7c · Gain or loss
other assets -$279,789
-
7d · Net gain or loss
total -$279,789 · related or exempt -$279,789
-
11a · Other revenue: OTHER OPERATING INCOME
total $13,391,948 · related or exempt $13,391,948
-
11e · Other revenue, total
$13,391,948
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $1,457,591
-
5 · Compensation of officers, directors and key employees
total $6,309,483
-
7 · Other salaries and wages
total $101,265,484
-
8 · Pension plan contributions
total $6,827,884
-
9 · Other employee benefits
total $3,485,204
-
10 · Payroll taxes
total $7,136,363
-
11b · Fees: legal
total -$168,268
-
11c · Fees: accounting
total $764,875
-
11g · Fees: other
total $5,194,814
-
12 · Advertising and promotion
total $16,180,913
-
13 · Office expenses
total $5,321,865
-
14 · Information technology
total $5,660,203
-
16 · Occupancy
total $6,471,334
-
17 · Travel
total $888,800
-
19 · Conferences, conventions and meetings
total $608,603
-
20 · Interest
total $58,142,598
-
21 · Payments to affiliates
total $462,725
-
22 · Depreciation, depletion and amortization
total $8,941,192
-
23 · Insurance
total $11,481,508
-
24a · Other expenses: DEBIT CARD/ATM
total $18,649,978
-
24b · Other expenses: REPAIRS & MAINTENANCE
total $12,682,243
-
24c · Other expenses: LOSS ON SETTLEMENT
total $6,000,000
-
24d · Other expenses: LOSS ON VISA STOCK
total $3,906,633
-
24e · All other expenses
total $2,866,932
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $7,520,119 · end of year $26,480,431
-
2 · Savings and temporary cash investments
beginning of year $593,593,441 · end of year $170,261,352
-
4 · Accounts receivable
beginning of year $9,303,199 · end of year $3,528,876
-
7 · Other notes and loans receivable
beginning of year $2,701,948,283 · end of year $3,745,977,166
-
9 · Prepaid expenses and deferred charges
beginning of year $6,368,623 · end of year $6,352,796
-
10a · Land, buildings and equipment: cost or other basis
$161,805,048
-
10b · Land, buildings and equipment: accumulated depreciation
$96,858,854
-
10c · Land, buildings and equipment, net
beginning of year $71,768,086 · end of year $64,946,194
-
11 · Investments: publicly traded securities
beginning of year $4,482,591,522 · end of year $3,846,622,306
-
12 · Investments: other securities
beginning of year $60,730,354 · end of year $56,793,155
-
15 · Other assets
beginning of year $272,549,723 · end of year $271,319,621
-
17 · Accounts payable and accrued expenses
beginning of year $91,136,568 · end of year $165,016,919
-
23 · Secured mortgages and notes payable
beginning of year $200,000,000
-
25 · Other liabilities
beginning of year $7,143,195,360 · end of year $7,558,717,382
-
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 $772,041,422 · end of year $468,547,596
Mission and programs · 2022
Mission
AT DESERT FINANCIAL, RELATIONSHIPS DRIVE SUCCESS. WE SHARE OUR FINANCIAL SUCCESS BECAUSE WE BELIEVE IT'S THE RIGHT THING TO DO FOR OUR MEMBERS, OUR COMMUNITY AND OUR TEAM.
-
INCOME FROM THE CREDIT UNION MEMBERSHIP AND FROM THE INVESTMENT OF MEMBERS' FUNDS PROVIDE THE FOUNDATION FROM WHICH THE ORGANIZATION CAN FUNCTION AND PROVIDE SERVICES TO ITS RESTRICTED MEMBERSHIP.
As filed on the 2022 return.
Listed in Part VII
-
Laura WatsonLAURA WATSON
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Claudette GronskiCLAUDETTE GRONSKI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Janet BiolettoJANET BIOLETTO
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Carrie YoungCARRIE YOUNG
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Chris MinerCHRIS MINER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Matthew FehlingMATTHEW FEHLING
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jeffrey SmithJEFFREY SMITH
VICE CHAIRPERSON
- Total calculated
- $0
- Hours/week
- 1
-
Richard JohnsonRICHARD JOHNSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Kevin HaskewKEVIN HASKEW
CHAIRPERSON
- Total calculated
- $0
- Hours/week
- 1
-
Jackie L Biggs JrJACKIE L BIGGS JR
SVP CFO
- Total calculated
- $528,974
- From this org
- $503,999
- From related orgs
- $0
- Other
- $24,975
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $379,934
- Bonus
- $122,752
- Other
- $1,313
- Deferred
- $12,200
- Nontaxable benefits
- $12,775
- Filer's total
- $528,974
-
Jeffrey D MesheyJEFFREY D MESHEY
CEO
- Total calculated
- $2,465,120
- From this org
- $1,874,940
- From related orgs
- $0
- Other
- $590,180
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $947,443
- Bonus
- $918,035
- Other
- $9,462
- Deferred
- $562,578
- Nontaxable benefits
- $27,602
- Filer's total
- $2,465,120
-
Rondle K AmstutzRONDLE K AMSTUTZ
EXECUTIVE VP
- Total calculated
- $846,665
- From this org
- $805,579
- From related orgs
- $0
- Other
- $41,086
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $501,429
- Bonus
- $296,012
- Other
- $8,138
- Deferred
- $11,007
- Nontaxable benefits
- $30,079
- Filer's total
- $846,665
-
Jeffrey S ButlerJEFFREY S BUTLER
CEO-SWITCHTHINK SOLUTIONS
- Total calculated
- $959,088
- From this org
- $924,548
- From related orgs
- $0
- Other
- $34,540
- Hours/week
- 0 + 40 related
Schedule J breakdown matched by us
- Base
- $533,532
- Bonus
- $384,680
- Other
- $6,336
- Deferred
- $12,200
- Nontaxable benefits
- $22,340
- Filer's total
- $959,088
-
Cathleen GrahamCATHLEEN GRAHAM
EXECUTIVE VP
- Total calculated
- $870,111
- From this org
- $768,149
- From related orgs
- $0
- Other
- $101,962
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $490,119
- Bonus
- $273,317
- Other
- $4,713
- Deferred
- $90,087
- Nontaxable benefits
- $11,875
- Filer's total
- $870,111
-
Gary SneedGARY SNEED
SVP CHIEF LENDING OFFICER
- Total calculated
- $639,525
- From this org
- $607,853
- From related orgs
- $0
- Other
- $31,672
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $388,602
- Bonus
- $213,496
- Other
- $5,755
- Deferred
- $11,614
- Nontaxable benefits
- $20,058
- Filer's total
- $639,525
-
Carie L GalatiCARIE L GALATI
SVP CHIEF HR OFFICER
- Total calculated
- $414,533
- From this org
- $376,217
- From related orgs
- $0
- Other
- $38,316
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $284,888
- Bonus
- $90,400
- Other
- $929
- Deferred
- $12,200
- Nontaxable benefits
- $26,116
- Filer's total
- $414,533
-
Thomas MarloweTHOMAS MARLOWE
SVP BACK OFFICE OPS
- Total calculated
- $505,543
- From this org
- $481,554
- From related orgs
- $0
- Other
- $23,989
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $320,251
- Bonus
- $160,290
- Other
- $1,013
- Deferred
- $12,200
- Nontaxable benefits
- $11,789
- Filer's total
- $505,543
-
Sara K ReganSARA K REGAN
SVP RISK & GEN COUNSEL
- Total calculated
- $535,626
- From this org
- $501,303
- From related orgs
- $0
- Other
- $34,323
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $315,352
- Bonus
- $179,744
- Other
- $6,207
- Deferred
- $5,914
- Nontaxable benefits
- $28,409
- Filer's total
- $535,626
-
Laura WallaceLAURA WALLACE
CHIEF ENGAGE OFFICER
- Total calculated
- $425,718
- From this org
- $395,708
- From related orgs
- $0
- Other
- $30,010
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $305,522
- Bonus
- $86,134
- Other
- $4,052
- Deferred
- $9,755
- Nontaxable benefits
- $20,255
- Filer's total
- $425,718
-
Stephen JordanSTEPHEN JORDAN
CHIEF REVENUE OFFICER
- Total calculated
- $639,261
- From this org
- $614,679
- From related orgs
- $0
- Other
- $24,582
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $408,912
- Bonus
- $204,454
- Other
- $1,313
- Deferred
- $12,200
- Nontaxable benefits
- $12,382
- Filer's total
- $639,261
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)
- PART I, LINE 4B
- IN 2022, THE CREDIT UNION PARTICIPATED IN TWO SUPPLEMENTAL NONQUALIFIED RETIRMENT PLANS. THE BENEFIT LIABILITY RELATED TO THE CEO, JEFFREY D. MESHEY'S RETIRMENT PLAN APPROXIMATED $3,370,700 AS OF DECEMBER 31, 2022. THE BENEFIT LIABILITY RELATED TO THE EXECUTIVE VP, RONDLE K. AMSTUTZ'S RETIRMENT PLAN APPROXIMATED $1,242,500 AS OF DECEMBER 31, 2022. THE BENEFIT LIABILITY RELATED TO THE EXEC VP, CATHLEEN GRAHAM'S RETIREMENT PLAN APPROXIMATED $233,700 AS OF DECEMBER 31, 2022.
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
-
$196,224
GOLF TOURNAMENT EVENT SPONSORSHIP; 2022 SCHOLARSHIPS, TCOOF MATCH
-
$155,245
BOARD SERVICE DONATION; AHA SPONSORSHIP; INDIRECT LOAN MATCH; HEART WALK EVENT SPONSORSHIP
-
ARIZONA EDUCATIONAL FOUNDATION
$150,030
BOARD SERVICE DONATION; EVENT SPONSORSHIPS
-
$125,310
RECOGNTION DONATION - 25 YEARS FUNDRAISING ; SPRING FUNDRAISER, KTAR GIVE-A-THON; PC GOLF EVENT; SEASONAL FUNDRAISER; EVENT SPONSORSHIP
-
$75,060
DONATION - FLAGSTAFF GRAND OPENING; TURKEY DRIVE
-
HEALTHCARE SCHOLARSHIPS - TWO TIMES
-
$50,320
TURKEY DRIVE DONATION
-
$50,155
DONATION
-
BOYS & GIRLS CLUB OF THE VALLEY
$50,000
CARES A THON RADIOTHON SPONSORSHIP; GRANT RECIPIENT, EVENT SPONSORSHIP
-
$32,000
SUN DEVIL GIVING DAY DONATION
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.
-
501(C)(3) · FUND RAISING · AZ · controlled entity
Directly controlled by DESERT FINANCIAL CREDIT UNION
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.
-
DESERT FINANCIAL HOLDINGS LLC
HOLDING COMPANY · AZ · income $5,672,296 · assets $109,688,499
Directly controlled by DESERT FINANCIAL CREDIT UNION
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 8 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202333179349302998
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
The source document this was parsed from is served over the API, which is where bulk and document access live.