Totals
- Total revenue
- $13,169,848
- Total expenses
- $12,477,470
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $12,722,875
- Investment income
- $434,139
- Other revenue
- $12,834
- Total assets, end of year
- $222,746,006
- Total liabilities, end of year
- $204,744,291
- Net assets or fund balances, end of year
- $18,001,715
- 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: INCOME ON LOANS
total $8,255,809 · related or exempt $8,255,809
-
2b · Program service revenue: FEES/CHARGES/OTHER INCOME
total $4,413,288 · related or exempt $4,413,288
-
2c · Program service revenue: FINANCE & INSURANCE
total $53,778 · unrelated business $53,778
-
3 · Investment income
total $364,684 · related or exempt $364,684
-
6a · Gross rents
real property $33,605
-
6b · Less rental expenses
real property $20,771
-
6c · Rental income or loss
real property $12,834
-
6d · Net rental income or loss
total $12,834 · related or exempt $12,834
-
7a · Gross sales of assets other than inventory
other assets $317,986
-
7b · Less cost or other basis and sales expenses
other assets $248,531
-
7c · Gain or loss
other assets $69,455
-
7d · Net gain or loss
total $69,455 · related or exempt $69,455
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $380,917
-
7 · Other salaries and wages
total $3,786,322
-
8 · Pension plan contributions
total $214,958
-
9 · Other employee benefits
total $706,685
-
10 · Payroll taxes
total $378,500
-
11b · Fees: legal
total $209,902
-
11c · Fees: accounting
total $61,300
-
11g · Fees: other
total $370,549
-
12 · Advertising and promotion
total $265,536
-
13 · Office expenses
total $741,178
-
14 · Information technology
total $389,932
-
16 · Occupancy
total $299,425
-
17 · Travel
total $64,491
-
19 · Conferences, conventions and meetings
total $132,798
-
20 · Interest
total $442,305
-
21 · Payments to affiliates
total $13,728
-
22 · Depreciation, depletion and amortization
total $399,601
-
23 · Insurance
total $69,137
-
24a · Other expenses: UBIT
total $4,376
-
24b · Other expenses: ATM/BANK SERVICE CHARGE
total $1,498,871
-
24c · Other expenses: PROVISION FOR LOAN LOSS
total $948,300
-
24d · Other expenses: LOAN SERVICING
total $733,749
-
24e · All other expenses
total $364,910
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $3,548,485 · end of year $2,119,001
-
2 · Savings and temporary cash investments
beginning of year $17,683,188 · end of year $6,777,406
-
4 · Accounts receivable
beginning of year $708,653 · end of year $527,015
-
5 · Loans and receivables from officers and key people
end of year $1,384,416
-
7 · Other notes and loans receivable
beginning of year $171,660,072 · end of year $184,921,793
-
9 · Prepaid expenses and deferred charges
beginning of year $290,208 · end of year $411,026
-
10a · Land, buildings and equipment: cost or other basis
$11,365,024
-
10b · Land, buildings and equipment: accumulated depreciation
$3,397,249
-
10c · Land, buildings and equipment, net
beginning of year $8,427,105 · end of year $7,967,775
-
11 · Investments: publicly traded securities
beginning of year $7,676,316 · end of year $6,420,782
-
12 · Investments: other securities
beginning of year $4,347,570 · end of year $6,414,073
-
14 · Intangible assets
beginning of year $320,824 · end of year $196,706
-
15 · Other assets
beginning of year $10,141,961 · end of year $5,606,013
-
17 · Accounts payable and accrued expenses
beginning of year $2,020,504 · end of year $1,406,184
-
23 · Secured mortgages and notes payable
end of year $1,000,000
-
25 · Other liabilities
beginning of year $204,568,489 · end of year $202,338,107
-
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 $18,215,389 · end of year $18,001,715
Mission and programs · 2022
Mission
BLUEOX CREDIT UNION WAS FOUNDED UPON THE SEVEN COOPERATIVE PRINCIPLES BASED IN THE PHILOSOPHY OF COOPERATION AND THE CENTRAL VALUES OF EQUALITY, EQUITY AND MUTUAL SELF-HELP. BLUEOX CREDIT UNION'S MISSION STATEMENT ILLUSTRATES THE BROTHERHOOD OF MAN THROUGH PEOPLE WORKING TOGETHER TO ACHIEVE A BETTER LIFE FOR THEMSELVES AND THEIR COMMUNITY.
Activities or mission (Part I)
BLUEOX CREDIT UNION'S MISSION IS TO PROVIDE QUALITY FINANCIAL SERVICES THAT WILL IMPROVE AND MAKE A DIFFERENCE IN THE LIVES OF OUR MEMBERS.
-
INCOME FROM CREDIT UNION'S MEMBERSHIP AND FROM 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. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
A MumfordA MUMFORD
DIRECTOR/CHAIRPERSON
- Total calculated
- $0
- Hours/week
- 1
-
D VoshellD VOSHELL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
D HicksD HICKS
DIRECTOR/SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
M WallaceM WALLACE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
M DutcherM DUTCHER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
F HetherwickF HETHERWICK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
J KirkpatrickJ KIRKPATRICK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
J MaesJ MAES
DIRECTOR/TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
J RattiJ RATTI
DIRECTOR/VICE CHAIRPERSON
- Total calculated
- $0
- Hours/week
- 1
-
T JohnsonT JOHNSON
ASSOCIATE DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
S CobbS COBB
CEO
- Total calculated
- $244,576
- From this org
- $207,197
- From related orgs
- $0
- Other
- $37,379
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $190,818
- Bonus
- $7,379
- Other
- $9,000
- Deferred
- $17,055
- Nontaxable benefits
- $20,324
- Filer's total
- $244,576
-
J RoodJ ROOD
SVP ACCOUNTING/FINANCE
- Total calculated
- $136,341
- From this org
- $108,545
- From related orgs
- $0
- Other
- $27,796
- Hours/week
- 40
-
W HeppeW HEPPE
VP HR
- Total calculated
- $136,212
- From this org
- $104,367
- From related orgs
- $0
- Other
- $31,845
- Hours/week
- 40
-
D SlavensD SLAVENS
VP IT
- Total calculated
- $127,425
- From this org
- $117,986
- From related orgs
- $0
- Other
- $9,439
- 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
- 1a · Travel for companions
- 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
The filer's explanations (Part III)
- PART I, LINE 4B
- THE CREDIT UNION ENTERED INTO COLLATERAL ASSIGNED SPLIT DOLLAR AGREEMENTS WITH S. COBB (CEO) AND J. ROOD (SVP ACCOUNTING/FINANCE). THE AGREEMENTS INVOLVE A METHOD OF PAYING FOR INSURANCE COVERAGE BY SPLITTING THE ELEMENTS OF THE LIFE INSURANCE POLICIES. UNDER THESE AGREEMENTS, THE EXECUTIVES ARE THE OWNERS OF THE POLICIES AND MAKE COLLATERAL ASSIGNMENTS TO THE CREDIT UNION IN RETURN FOR LOANS EQUAL TO THE AMOUNT OF PREMIUMS PAID ON BEHALF OF THE EXECUTIVES PLUS ACCRUED INTEREST AT A SPECIFIC RATE. AT THE TIME OF DEATH, THE CREDIT UNION WILL BE PAID THE LOAN AMOUNT PLUS ACCRUED INTEREST AND THE BALANCE OF THE INSURANCE BENEFITS WILL BE PAID TO THE EXECUTIVES' DESIGNATED BENEFICIARIES.
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
- 2 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202323139349305087
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