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Nonprofiteer
← 1307 DAY AIR CREDIT UNION INC

Form 990 for tax year 2023

Filed by 1307 DAY AIR CREDIT UNION INC.

Totals

Total revenue
$45,000,531
Total expenses
$35,267,010
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$42,116,535
Investment income
$2,883,996
Other revenue
$0
Total assets, end of year
$787,679,302
Total liabilities, end of year
$697,563,873
Net assets or fund balances, end of year
$90,115,429
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 $32,164,167 · related or exempt $32,164,167

  • 2b · Program service revenue: FEE & OTHER INCOME

    total $8,595,551 · related or exempt $8,261,649 · unrelated business $333,902

  • 2c · Program service revenue: OTHER INCOME

    total $1,356,817 · related or exempt $1,356,817

  • 3 · Investment income

    total $3,000,998 · excluded $3,000,998

  • 7a · Gross sales of assets other than inventory

    securities $13,094,021

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

    securities $13,065,331 · other assets $145,692

  • 7c · Gain or loss

    securities $28,690 · other assets -$145,692

  • 7d · Net gain or loss

    total -$117,002 · excluded -$117,002

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $1,405,270

  • 7 · Other salaries and wages

    total $6,308,352

  • 8 · Pension plan contributions

    total $239,811

  • 9 · Other employee benefits

    total $690,508

  • 10 · Payroll taxes

    total $470,179

  • 11b · Fees: legal

    total $22,951

  • 11c · Fees: accounting

    total $86,484

  • 11g · Fees: other

    total $138,068

  • 12 · Advertising and promotion

    total $1,013,814

  • 13 · Office expenses

    total $822,749

  • 16 · Occupancy

    total $559,651

  • 17 · Travel

    total $17,787

  • 20 · Interest

    total $14,173,583

  • 22 · Depreciation, depletion and amortization

    total $301,083

  • 23 · Insurance

    total $88,113

  • 24a · Other expenses: SERVICE & DATA PROCESSI

    total $3,864,309

  • 24b · Other expenses: PROVISION FOR LOAN LOSS

    total $2,386,580

  • 24c · Other expenses: LOAN SERVICE EXPENSE

    total $1,856,487

  • 24d · Other expenses: OTHER EXPENSES

    total $821,231

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $6,527,689 · end of year $1,373,149

  • 2 · Savings and temporary cash investments

    beginning of year $256,183 · end of year $59,266,278

  • 5 · Loans and receivables from officers and key people

    beginning of year $11,340,822 · end of year $11,633,534

  • 7 · Other notes and loans receivable

    beginning of year $563,008,380 · end of year $628,799,672

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

    $13,999,280

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

    $2,715,807

  • 10c · Land, buildings and equipment, net

    beginning of year $5,762,529 · end of year $11,283,473

  • 11 · Investments: publicly traded securities

    beginning of year $68,117,203 · end of year $56,471,771

  • 12 · Investments: other securities

    beginning of year $6,292,713 · end of year $9,393,918

  • 15 · Other assets

    beginning of year $15,066,140 · end of year $9,457,507

  • 17 · Accounts payable and accrued expenses

    beginning of year $6,744,185 · end of year $5,466,916

  • 21 · Escrow or custodial account liability

    beginning of year $2,179,713 · end of year $2,362,395

  • 24 · Unsecured notes and loans payable

    beginning of year $17,856,022 · end of year $48,580,997

  • 25 · Other liabilities

    beginning of year $568,301,638 · end of year $641,153,565

  • 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 $81,290,101 · end of year $90,115,429

Mission and programs · 2023

Mission

TO PROVIDE FINANCIAL SERVICES TO ITS MEMBERS

  • DAY AIR CREDIT UNION, INC., HEADQUARTERED IN KETTERING, OHIO, PROVIDESA BROAD RANGE OF FINANCIAL SERVICES TO ITS MEMBERS. THE CREDITUNION'S PRIMARY SERVICES INCLUDE GRANTING SECURED AND UNSECUREDCONSUMER AND REAL ESTATE LENDING AS WELL AS PROVIDING CHECKING ANDSAVINGS SERVICES. THE CREDIT UNION'S MEMBERS AND BRANCHES ARELOCATED THROUGHOUT THE KETTERING, OHIO AREA.

As filed on the 2023 return.

Listed in Part VII

  • MELISSA BAUER

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • AL BERTLEFF

    VICE-CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • TIM BROWN

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • MALLORY COAKLEY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • BRIAN HAYES

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • CINDY LEBRUN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • PATSY MERCURI

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JOHN WECKESSER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MAHA KASHANI

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • WILLIAM BURKE

    CEO

    Total calculated
    $619,935
    From this org
    $591,527
    From related orgs
    $0
    Other
    $28,408
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $491,527
    Bonus
    $100,000
    Other
    $0
    Deferred
    $13,500
    Nontaxable benefits
    $14,908
    Filer's total
    $619,935

  • JOHN THEOBALD

    CLO

    Total calculated
    $286,652
    From this org
    $251,947
    From related orgs
    $0
    Other
    $34,705
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $191,947
    Bonus
    $60,000
    Other
    $0
    Deferred
    $12,543
    Nontaxable benefits
    $22,162
    Filer's total
    $286,652

  • JANNELL EICHSTAEDT

    CXO

    Total calculated
    $275,842
    From this org
    $247,245
    From related orgs
    $0
    Other
    $28,597
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $187,245
    Bonus
    $60,000
    Other
    $0
    Deferred
    $12,917
    Nontaxable benefits
    $15,680
    Filer's total
    $275,842

  • DEANNA DAHLING

    VP OF FINANCE

    Total calculated
    $222,840
    From this org
    $190,597
    From related orgs
    $0
    Other
    $32,243
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $145,597
    Bonus
    $45,000
    Other
    $0
    Deferred
    $10,081
    Nontaxable benefits
    $22,162
    Filer's total
    $222,840

  • LUKE NEFF

    FINANCIAL PLANNER

    Total calculated
    $336,927
    From this org
    $301,402
    From related orgs
    $0
    Other
    $35,525
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $33,918
    Bonus
    $5,000
    Other
    $262,484
    Deferred
    $13,500
    Nontaxable benefits
    $22,025
    Filer's total
    $336,927

  • JOSH TODD

    DIRECTOR OF MORTGAGES

    Total calculated
    $162,990
    From this org
    $154,907
    From related orgs
    $0
    Other
    $8,083
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $116,306
    Bonus
    $31,171
    Other
    $7,430
    Deferred
    $7,755
    Nontaxable benefits
    $328
    Filer's total
    $162,990

  • JOE ECKLEY

    DIRECTOR OF MARKETING

    Total calculated
    $170,584
    From this org
    $140,992
    From related orgs
    $0
    Other
    $29,592
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $113,992
    Bonus
    $27,000
    Other
    $0
    Deferred
    $7,430
    Nontaxable benefits
    $22,162
    Filer's total
    $170,584

  • ZACH DIVER

    DIRECTOR OF IT

    Total calculated
    $169,769
    From this org
    $141,681
    From related orgs
    $0
    Other
    $28,088
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $123,181
    Bonus
    $18,500
    Other
    $0
    Deferred
    $7,317
    Nontaxable benefits
    $20,771
    Filer's total
    $169,769

  • APRIL BOWMAN

    DIRECTOR OF HR

    Total calculated
    $150,989
    From this org
    $136,144
    From related orgs
    $0
    Other
    $14,845
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $109,144
    Bonus
    $27,000
    Other
    $0
    Deferred
    $6,973
    Nontaxable benefits
    $7,872
    Filer's total
    $150,989

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 · Form 990 of other organizations
  • 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

The filer's explanations (Part III)

PART I, LINE 1A
TRAVEL FOR COMPANIONS IS PROVIDED TO THE CEO AND BOARD OF DIRECTORS TO FURTHER THE BUSINESS ACTIVITIES OF THE CREDIT UNION. INCOME IS REPORTED TO THE INDIVIDUALS RECEIVING THE BENEFIT ON THE APPLICABLE FORMS WHEN REQUIRED.
PART I, LINE 4B
CERTAIN KEY OFFICERS PARTICIPATE IN A 457(F) PLAN. DURING 2023 NO PAYMENTS WERE MADE OUT OF THE 457(F) PLAN.

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.

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.

Provenance

Return type
form_990
Tax year
2023
Filed
29 October 2024
IRS schema version
2023v5.1
Source object
202443039349302499

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