Totals
- Total revenue
- $194,067,226
- Total expenses
- $177,414,551
- Contributions and grants received
- $0
- Grants paid
- $2,226,640
- Program service revenue
- $184,022,787
- Investment income
- $4,880,510
- Other revenue
- $5,163,929
- Total assets, end of year
- $4,187,947,178
- Total liabilities, end of year
- $3,886,683,632
- Net assets or fund balances, end of year
- $301,263,546
- 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 $138,226,650 · related or exempt $138,226,650
-
2b · Program service revenue: OTHER OPERATING INCOME
total $32,337,145 · related or exempt $33,454,898 · unrelated business -$1,117,753
-
2c · Program service revenue: FEE INCOME
total $13,458,992 · related or exempt $12,462,901 · unrelated business $996,091
-
3 · Investment income
total $9,607,771 · related or exempt $9,607,771
-
7a · Gross sales of assets other than inventory
securities $6,328,259 · other assets $428,380
-
7b · Less cost or other basis and sales expenses
securities $11,142,517 · other assets $341,383
-
7c · Gain or loss
securities -$4,814,258 · other assets $86,997
-
7d · Net gain or loss
total -$4,727,261 · related or exempt -$4,727,261
-
11a · Other revenue: GAIN ON SALE OF LOANS
total $5,159,379 · related or exempt $5,159,379
-
11b · Other revenue: OTHER NON INTEREST INC
total $4,550 · related or exempt $4,550
-
11e · Other revenue, total
$5,163,929
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $2,226,640
-
5 · Compensation of officers, directors and key employees
total $14,331,920
-
7 · Other salaries and wages
total $36,404,359
-
8 · Pension plan contributions
total $2,447,193
-
9 · Other employee benefits
total $6,273,493
-
10 · Payroll taxes
total $3,659,938
-
11b · Fees: legal
total $642,278
-
11c · Fees: accounting
total $224,505
-
11g · Fees: other
total $14,260,421
-
12 · Advertising and promotion
total $4,621,295
-
13 · Office expenses
total $18,172,655
-
14 · Information technology
total $7,850,651
-
16 · Occupancy
total $5,879,443
-
17 · Travel
total $2,243,679
-
20 · Interest
total $14,742,750
-
22 · Depreciation, depletion and amortization
total $5,488,726
-
23 · Insurance
total $729,357
-
24a · Other expenses: PROVISION FOR LOAN AND
total $32,881,838
-
24b · Other expenses: LOAN SERVICING EXPENSE
total $2,961,257
-
24c · Other expenses: MISC OPERATING EXPENSES
total $1,048,235
-
24d · Other expenses: OPERATING FEES
total $323,918
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $68,977,722 · end of year $130,020,231
-
2 · Savings and temporary cash investments
beginning of year $333,271,193 · end of year $27,338,720
-
5 · Loans and receivables from officers and key people
beginning of year $21,998,665 · end of year $32,702,848
-
9 · Prepaid expenses and deferred charges
beginning of year $3,100,887 · end of year $6,571,186
-
10a · Land, buildings and equipment: cost or other basis
$151,366,469
-
10b · Land, buildings and equipment: accumulated depreciation
$71,543,216
-
10c · Land, buildings and equipment, net
beginning of year $68,851,637 · end of year $79,823,253
-
11 · Investments: publicly traded securities
beginning of year $615,596,029 · end of year $478,993,859
-
12 · Investments: other securities
beginning of year $870,611 · end of year $588,211
-
13 · Investments: program-related
beginning of year $2,254,448,829 · end of year $3,335,259,841
-
15 · Other assets
beginning of year $84,674,320 · end of year $96,649,029
-
17 · Accounts payable and accrued expenses
beginning of year $62,509,246 · end of year $78,013,123
-
25 · Other liabilities
beginning of year $3,053,167,446 · end of year $3,808,670,509
-
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 $336,113,201 · end of year $301,263,546
Mission and programs · 2022
Mission
SEE SCHEDULE OVALLEY STRONG CREDIT UNION IS A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS, CREATING A SOURCE OF CREDIT FOR THEM AT RATES OF INTEREST SET BY THE BOARD OF DIRECTORS, AND PROVIDING AN OPPORTUNITY FOR THEM TO USE AND CONTROL THEIR OWN MONEY ON A DEMOCRATIC BASIS IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS. AS A COOPERATIVE, VALLEY STRONG CREDIT UNION CONDUCTS ITS BUSINESS FOR THE MUTUAL BENEFIT AND GENERAL WELFARE OF ITS MEMBERS WITH THE EARNINGS, SAVINGS, BENEFITS, OR SERVICES OF THE CREDIT UNION BEING DISTRIBUTED TO ITS MEMBERS AS PATRONS.
Activities or mission (Part I)
A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS.
-
MEMBERSHIP EDUCATION CONFERENCES: WE HAVE EXTENSIVE WORKSHOP/ONLINE SEMINAR PROGRAMS WITH TOPICS WHICH TYPICALLY ARE HELD TWICE A MONTH. TOPICS COVERED ARE AUTO AND HOME BUYING, RETIREMENT AND WEALTH MANAGEMENT, BUSINESS BANKING, CYBER SECURITY AND MEDICARE ASSISTANCE. ADDITIONALLY, WE HOLD FINANCIAL LITERACY CLASSES OFF SITE AT LOCAL SCHOOLS K-12 AS WELL AS AREA COLLEGES TO HELP INTRODUCE OUR YOUNG COMMUNITY MEMBERS WITH FINANCIAL KNOWLEDGE.
-
ONGOING MARKETING STRATEGIES: WE HAVE FOCUSED OUR MARKETING EFFORTS ON BRANDING IN OUR EXPANSION MARKETS WHICH INCLUDE CHECKING OFFERS, MORTGAGE AND AUTO LOAN OPTIONS, BUSINESS BANKING OPPORTUNITIES, AND RETIREMENT AND WEALTH MANAGEMENT POSSIBILITIES.
-
COMMUNICATIONS/LEGISLATIVE/REGULATORY/COMPLIANCE: WE KEEP MEMBERS UPDATED, PROVIDING ALL RULES AND REGULATIONS GOVERNING THE CREDIT UNION AS WELL AS COMPLIANCE ASSISTANCE.
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Dr Larry ReiderDR LARRY REIDER
BOARD CHAIRPERSON
- Total calculated
- $0
- Hours/week
- 3
-
Mike KileenMIKE KILEEN
1ST VICE CHAIRMAN
- Total calculated
- $0
- Hours/week
- 3
-
Carl Ba Lange IIICARL BA LANGE III
TREASURER
- Total calculated
- $0
- Hours/week
- 3
-
Joanne MillsJOANNE MILLS
SECRETARY
- Total calculated
- $0
- Hours/week
- 3
-
Joe DrewJOE DREW
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 3
-
Dr S William BruceDR S WILLIAM BRUCE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Marilyn JonesMARILYN JONES
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Dr Dennis ScottDR DENNIS SCOTT
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Dr James FillbrandtDR JAMES FILLBRANDT
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Dr Bryon SchaeferDR BRYON SCHAEFER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Valencia JonesVALENCIA JONES
BOARD MEMBER
- Total calculated
- $975
- From this org
- $975
- From related orgs
- $0
- Other
- $0
- Hours/week
- 2
-
Mark MorenoMARK MORENO
BOARD MEMBER
- Total calculated
- $1,703
- From this org
- $1,703
- From related orgs
- $0
- Other
- $0
- Hours/week
- 3
-
Troy FringerTROY FRINGER
SPVE CMTE CHAIR
- Total calculated
- $1,608
- From this org
- $1,608
- From related orgs
- $0
- Other
- $0
- Hours/week
- 2
-
Dan ShannonDAN SHANNON
SPVE CMTE MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Doug MillerDOUG MILLER
SPVE CMTE MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Ken GraggKEN GRAGG
SPVE CMTE MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Ramon HendrixRAMON HENDRIX
SPVE CMTE MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Tenielle TensleyTENIELLE TENSLEY
SPVE CMTE MEMBER
- Total calculated
- $1,163
- From this org
- $1,163
- From related orgs
- $0
- Other
- $0
- Hours/week
- 2
-
Nicholas AmbrosiniNICHOLAS AMBROSINI
PRESIDENT/CEO
- Total calculated
- $1,345,548
- From this org
- $1,273,801
- From related orgs
- $0
- Other
- $71,747
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $793,620
- Bonus
- $450,200
- Other
- $29,981
- Deferred
- $18,300
- Nontaxable benefits
- $53,447
- Filer's total
- $1,345,548
-
Lindsay ReyesLINDSAY REYES
SVP/CFO
- Total calculated
- $432,658
- From this org
- $382,009
- From related orgs
- $0
- Other
- $50,649
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $263,791
- Bonus
- $100,220
- Other
- $17,998
- Deferred
- $18,300
- Nontaxable benefits
- $32,349
- Filer's total
- $432,658
-
Michael P DuffyMICHAEL P DUFFY
EVP/CHIEF ADVOCACY OFFICER
- Total calculated
- $1,088,045
- From this org
- $1,004,706
- From related orgs
- $0
- Other
- $83,339
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $686,282
- Bonus
- $300,340
- Other
- $18,084
- Deferred
- $18,000
- Nontaxable benefits
- $65,339
- Filer's total
- $1,088,045
-
Steven MatejkaSTEVEN MATEJKA
EVP/COO
- Total calculated
- $847,152
- From this org
- $801,278
- From related orgs
- $0
- Other
- $45,874
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $583,003
- Bonus
- $200,240
- Other
- $18,035
- Deferred
- $18,300
- Nontaxable benefits
- $27,574
- Filer's total
- $847,152
-
Mirella Elizabeth ReznicMIRELLA ELIZABETH REZNIC
EVP/CHIEF STRATEGY OFFICER
- Total calculated
- $776,772
- From this org
- $731,082
- From related orgs
- $0
- Other
- $45,690
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $500,987
- Bonus
- $200,060
- Other
- $30,035
- Deferred
- $18,299
- Nontaxable benefits
- $27,391
- Filer's total
- $776,772
-
Charles Allen SmithCHARLES ALLEN SMITH
SVP/CHIEF LENDING OFFICER
- Total calculated
- $549,263
- From this org
- $513,958
- From related orgs
- $0
- Other
- $35,305
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $420,696
- Bonus
- $75,070
- Other
- $18,192
- Deferred
- $18,300
- Nontaxable benefits
- $17,005
- Filer's total
- $549,263
-
Mark MannsMARK MANNS
SVP/CHIEF HUMAN RESOURCES OFFICER
- Total calculated
- $453,478
- From this org
- $439,712
- From related orgs
- $0
- Other
- $13,766
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $276,388
- Bonus
- $145,240
- Other
- $18,084
- Deferred
- $13,297
- Nontaxable benefits
- $469
- Filer's total
- $453,478
-
Deanna L BlaiseDEANNA L BLAISE
SVP OF MEMBER BUSINESS SERVICES
- Total calculated
- $506,876
- From this org
- $439,629
- From related orgs
- $0
- Other
- $67,247
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $297,446
- Bonus
- $130,080
- Other
- $12,103
- Deferred
- $13,800
- Nontaxable benefits
- $53,447
- Filer's total
- $506,876
-
Stephen C RoachSTEPHEN C ROACH
SVP/CHIEF DIGITAL OFFICER
- Total calculated
- $499,988
- From this org
- $428,151
- From related orgs
- $0
- Other
- $71,837
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $334,501
- Bonus
- $75,410
- Other
- $18,240
- Deferred
- $18,300
- Nontaxable benefits
- $53,537
- Filer's total
- $499,988
-
Erin Rickelle EstelleERIN RICKELLE ESTELLE
SVP/CHIEF MARKETING OFFICER
- Total calculated
- $489,504
- From this org
- $423,959
- From related orgs
- $0
- Other
- $65,545
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $330,901
- Bonus
- $75,060
- Other
- $17,998
- Deferred
- $12,008
- Nontaxable benefits
- $53,537
- Filer's total
- $489,504
-
Shonna ShearsonSHONNA SHEARSON
SVP OF OPERATIONS
- Total calculated
- $434,253
- From this org
- $421,575
- From related orgs
- $0
- Other
- $12,678
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $273,221
- Bonus
- $130,270
- Other
- $18,084
- Deferred
- $12,097
- Nontaxable benefits
- $581
- Filer's total
- $434,253
-
Lindsey A Balukoff StrangeLINDSEY A BALUKOFF STRANGE
SVP/CHIEF RETAIL OFFICER
- Total calculated
- $338,827
- From this org
- $333,448
- From related orgs
- $0
- Other
- $5,379
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $267,644
- Bonus
- $50,050
- Other
- $15,754
- Deferred
- $5,320
- Nontaxable benefits
- $59
- Filer's total
- $338,827
-
Niki Myrto KoimtzoglouNIKI MYRTO KOIMTZOGLOU
SVP/CHIEF COMPLIANCE OFFICER
- Total calculated
- $313,044
- From this org
- $303,729
- From related orgs
- $0
- Other
- $9,315
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $253,617
- Bonus
- $50,050
- Other
- $62
- Deferred
- $9,315
- Nontaxable benefits
- $0
- Filer's total
- $313,044
-
James B HusseyJAMES B HUSSEY
VP OF WEALTH MANAGEMENT
- Total calculated
- $472,902
- From this org
- $402,655
- From related orgs
- $0
- Other
- $70,247
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $377,438
- Bonus
- $25,160
- Other
- $57
- Deferred
- $16,800
- Nontaxable benefits
- $53,447
- Filer's total
- $472,902
-
Brian Grant ReynoldsBRIAN GRANT REYNOLDS
VP OF REAL ESTATE LENDING
- Total calculated
- $439,981
- From this org
- $374,098
- From related orgs
- $0
- Other
- $65,883
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $344,275
- Bonus
- $11,788
- Other
- $18,035
- Deferred
- $15,487
- Nontaxable benefits
- $50,396
- Filer's total
- $439,981
-
Nora M StrohNORA M STROH
LEGACY AMBASSADOR
- Total calculated
- $361,814
- From this org
- $302,546
- From related orgs
- $0
- Other
- $59,268
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $213,628
- Bonus
- $76,815
- Other
- $12,103
- Deferred
- $12,491
- Nontaxable benefits
- $46,777
- Filer's total
- $361,814
-
Hena Raina BhatHENA RAINA BHAT
SVP/CHIEF TECHNOLOGY OFFICER
- Total calculated
- $325,398
- From this org
- $302,145
- From related orgs
- $0
- Other
- $23,253
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $66,591
- Bonus
- $128,000
- Other
- $107,554
- Deferred
- $5,118
- Nontaxable benefits
- $18,135
- Filer's total
- $325,398
-
Steven G LeigaSTEVEN G LEIGA
VP OF ACCOUNTING
- Total calculated
- $354,748
- From this org
- $269,728
- From related orgs
- $0
- Other
- $85,020
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $189,203
- Bonus
- $68,422
- Other
- $12,103
- Deferred
- $16,681
- Nontaxable benefits
- $68,339
- Filer's total
- $354,748
-
Joshua Allen FettingJOSHUA ALLEN FETTING
VP OF CONSUMER LENDING
- Total calculated
- $318,981
- From this org
- $265,494
- From related orgs
- $0
- Other
- $53,487
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $197,696
- Bonus
- $53,550
- Other
- $14,248
- Deferred
- $10,711
- Nontaxable benefits
- $42,776
- Filer's total
- $318,981
-
Chei WhitmoreCHEI WHITMORE
MARKET PRESIDENT
- Total calculated
- $317,648
- From this org
- $252,573
- From related orgs
- $0
- Other
- $65,075
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $220,150
- Bonus
- $20,320
- Other
- $12,103
- Deferred
- $11,628
- Nontaxable benefits
- $53,447
- Filer's total
- $317,648
-
Renee KillionRENEE KILLION
DIRECTOR OF MARKETING
- Total calculated
- $294,748
- From this org
- $245,207
- From related orgs
- $0
- Other
- $49,541
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $45,348
- Bonus
- $6,734
- Other
- $193,125
- Deferred
- $11,910
- Nontaxable benefits
- $37,631
- Filer's total
- $294,748
-
Lee JacobsLEE JACOBS
VP OF INFORMATION TECHNOLOGY
- Total calculated
- $248,256
- From this org
- $235,445
- From related orgs
- $0
- Other
- $12,811
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $129,470
- Bonus
- $15,000
- Other
- $90,975
- Deferred
- $5,179
- Nontaxable benefits
- $7,632
- Filer's total
- $248,256
-
Amie J HaleAMIE J HALE
VP OF EPMO AND M&A
- Total calculated
- $247,157
- From this org
- $234,846
- From related orgs
- $0
- Other
- $12,311
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $200,930
- Bonus
- $33,859
- Other
- $57
- Deferred
- $11,730
- Nontaxable benefits
- $581
- Filer's total
- $247,157
-
Christopher HansonCHRISTOPHER HANSON
VP OF DATA OFFICE/ADVANCED ANALYTICS
- Total calculated
- $241,833
- From this org
- $234,568
- From related orgs
- $0
- Other
- $7,265
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $121,080
- Bonus
- $15,000
- Other
- $98,488
- Deferred
- $7,265
- Nontaxable benefits
- $0
- Filer's total
- $241,833
-
Kathleen Julia KellyKATHLEEN JULIA KELLY
MARKET PRESIDENT
- Total calculated
- $271,464
- From this org
- $230,688
- From related orgs
- $0
- Other
- $40,776
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $198,504
- Bonus
- $20,060
- Other
- $12,124
- Deferred
- $8,427
- Nontaxable benefits
- $32,349
- Filer's total
- $271,464
-
Richard Neal SazamaRICHARD NEAL SAZAMA
HEAD OF FACILITIES & CAPITAL PROJECTS
- Total calculated
- $238,668
- From this org
- $227,753
- From related orgs
- $0
- Other
- $10,915
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $189,686
- Bonus
- $20,070
- Other
- $17,997
- Deferred
- $10,915
- Nontaxable benefits
- $0
- Filer's total
- $238,668
-
Bridget Lynn JohnsonBRIDGET LYNN JOHNSON
MARKET PRESIDENT
- Total calculated
- $269,300
- From this org
- $225,593
- From related orgs
- $0
- Other
- $43,707
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $190,168
- Bonus
- $23,407
- Other
- $12,018
- Deferred
- $12,138
- Nontaxable benefits
- $31,569
- Filer's total
- $269,300
-
Stacy PhelpsSTACY PHELPS
VP OF ACCOUNTING
- Total calculated
- $213,130
- From this org
- $201,264
- From related orgs
- $0
- Other
- $11,866
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $147,163
- Bonus
- $54,063
- Other
- $38
- Deferred
- $11,866
- Nontaxable benefits
- $0
- Filer's total
- $213,130
-
James LawitzJAMES LAWITZ
VP OF CULTURE AND COMMUNICATIONS
- Total calculated
- $214,508
- From this org
- $200,108
- From related orgs
- $0
- Other
- $14,400
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $179,778
- Bonus
- $20,080
- Other
- $250
- Deferred
- $7,091
- Nontaxable benefits
- $7,309
- Filer's total
- $214,508
-
Susan MaysSUSAN MAYS
HEAD OF RETAIL OPERATIONS
- Total calculated
- $224,713
- From this org
- $198,451
- From related orgs
- $0
- Other
- $26,262
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $146,082
- Bonus
- $36,240
- Other
- $16,129
- Deferred
- $11,905
- Nontaxable benefits
- $14,357
- Filer's total
- $224,713
-
Kevin McCloskeyKEVIN MCCLOSKEY
DIRECTOR OF IT DEVELOPMENT
- Total calculated
- $261,213
- From this org
- $196,536
- From related orgs
- $0
- Other
- $64,677
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $186,726
- Bonus
- $9,647
- Other
- $163
- Deferred
- $11,230
- Nontaxable benefits
- $53,447
- Filer's total
- $261,213
-
Kevin Michael LangeKEVIN MICHAEL LANGE
DIRECTOR OF CAPITAL MARKETS
- Total calculated
- $257,084
- From this org
- $193,464
- From related orgs
- $0
- Other
- $63,620
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $176,105
- Bonus
- $17,329
- Other
- $30
- Deferred
- $10,173
- Nontaxable benefits
- $53,447
- Filer's total
- $257,084
-
Robyn R PotterROBYN R POTTER
DIRECTOR OF HOME LOAN CENTER
- Total calculated
- $224,804
- From this org
- $190,964
- From related orgs
- $0
- Other
- $33,840
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $171,103
- Bonus
- $19,620
- Other
- $241
- Deferred
- $10,649
- Nontaxable benefits
- $23,191
- Filer's total
- $224,804
-
Frank Xiaodong FengFRANK XIAODONG FENG
FINANCIAL SERVICES PROFESSIONAL
- Total calculated
- $769,677
- From this org
- $751,614
- From related orgs
- $0
- Other
- $18,063
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $749,564
- Bonus
- $1,963
- Other
- $87
- Deferred
- $17,682
- Nontaxable benefits
- $381
- Filer's total
- $769,677
-
David James RainwaterDAVID JAMES RAINWATER
SENIOR PROJECT MANAGER
- Total calculated
- $362,747
- From this org
- $344,579
- From related orgs
- $0
- Other
- $18,168
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $97,500
- Bonus
- $26,682
- Other
- $220,397
- Deferred
- $7,452
- Nontaxable benefits
- $10,716
- Filer's total
- $362,747
-
Amanda Joan VerstlAMANDA JOAN VERSTL
HUMAN RESOURCES MANAGER
- Total calculated
- $353,542
- From this org
- $343,501
- From related orgs
- $0
- Other
- $10,041
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $94,830
- Bonus
- $27,165
- Other
- $221,506
- Deferred
- $4,833
- Nontaxable benefits
- $5,208
- Filer's total
- $353,542
-
Richard RamosRICHARD RAMOS
FINANCIAL SERVICES PROFESSIONAL
- Total calculated
- $219,535
- From this org
- $209,285
- From related orgs
- $0
- Other
- $10,250
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $204,551
- Bonus
- $4,677
- Other
- $57
- Deferred
- $10,250
- Nontaxable benefits
- $0
- Filer's total
- $219,535
-
Faiyaz ElahiFAIYAZ ELAHI
PRODUCT MANAGER OF CONSUMER LENDING
- Total calculated
- $196,329
- From this org
- $196,329
- From related orgs
- $0
- Other
- $0
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $2,596
- Bonus
- $42,983
- Other
- $150,750
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $196,329
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 · Independent compensation consultant
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
Answered no
- 4c · Equity-based compensation arrangement
The filer's explanations (Part III)
- PART I, LINES 4A-B
- THE CREDIT UNION PROVIDES CERTAIN INDIVIDUALS WITH A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN (PLAN). THE PLAN IS BEING FUNDED VIA LIFE INSURANCE POLICIES AND SPLIT DOLLAR LOAN AGREEMENTS HAVE BEEN ENTERED INTO WITH THE PARTICIPANTS OF THE EXECUTIVES COVERED UNDER THE PLAN. AS PART OF THE SPLIT DOLLAR LOAN AGREEMENTS, THE EXECUTIVES HAVE ASSIGNED THE POLICIES TO THE CREDIT UNION AS COLLATERAL. THIS ASSIGNMENT SECURES REPAYMENT OF ANY ADVANCES AND ACCRUED INTEREST FOR THE POLICY PREMIUMS AND ANY OTHER ADVANCES UNDER ANY AGREEMENT. THE LOANS HAVE A FIXED INTEREST RATE, WITH INTEREST ACCRUED MONTHLY AND CAPITALIZED AS PART OF THE TOTAL LOAN BALANCE ANNUALLY. TOTAL SPLIT DOLLAR LOANS AND ACCRUED INTEREST APPROXIMATED $29,656,200 AND $21,800,000 AS OF DECEMBER 31, 2022 AND 2021,RESPECTIVELY. THE CREDIT UNION MAINTAINS NON-QUALIFIED PENSION PLANS FOR A SELECT GROUP OF MANAGEMENT. PARTICIPANTS ARE ELIGIBLE BASED ON APPROVAL BY THE CREDIT UNION'S BOARD OF DIRECTORS. UNDER THIS PLAN, PARTICIPANTS DEFER A PORTION OF THEIR COMPENSATION. THE DEFERRED COMPENSATION ACCOUNTS ARE SHOWN AS BOTH ASSETS AND LIABILITIES ON THE CREDIT UNION'S FINANCIAL STATEMENTS AND ARE AVAILABLE TO CREDITORS IN THE EVENT OF THE CREDIT UNION'S LIQUIDATION. THE BALANCE OF THE PLAN APPROXIMATED $11,378,200 AND $37,458,000 AS OF DECEMBER 31, 2022 AND 2021, RESPECTIVELY.
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
-
$250,000
TO HELP SUPPORT CHARITABLE ORGANIZATIONS IN THE SAN JOAQUIN VALLEY COMMUNITY.
-
TO ASSIST IN THE EDUCATION & NETWORKING OF THE BUSINESS COMMUNITY OF BAKERSFIELD/KERN COUNTY.
-
$110,000
TO HELP SPONSOR SCHOLARSHIPS AND THE NEW VOCATION EDUCATION BUILDING.
-
$80,000
TO ASSIST CSU BAKERSFIELD IN PROVIDING SCHOLARSHIPS & IMPROVING CAMPUS FACILITIES.
-
TO SUPPORT THE EDUCATIONAL AND OTHER PROGRAMS OF THE KERN HIGH SCHOOL DISTRICT.
-
$50,000
TO HELP ASSIST THE FOUNDATION GROW IN ITS MISSION OF COMMUNITY AND PHILANTHROPY.
-
GAMEDAY SPORTS ACADEMY
$35,000
TO SUPPORT ACTIVITIES THAT BENEFIT THE HEALTH OF YOUNG ATHLETES IN OUR COMMUNITY.
-
AMERICAN HEART ASSOCIATION INC
$32,000
TO ASSIST IN THE ADVANCEMENT OF CARDIOVASCULAR HEALTH FOR ALL.
-
TO HELP PROVIDE RESOURCES FOR WOMEN AT A CROSSROADS.
-
GLOBAL FAMILY CARE NETWORK INC
$30,000
TO ASSIST THE DAUGHTER PROJECT IN PROVIDING YOUTH INTERVENTION AND TREATMENT SERVICES.
The 10 largest by cash amount. The API serves every itemized grant.
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.
-
VALLEY STRONG SERVICES LLC
INSURANCE · CA · income -$1,113,967 · assets $19,059,560
Directly controlled by VALLEY STRONG CREDIT UNION
Related partnerships
Part III: related organizations taxable as a partnership, with the filer's share.
-
KERN VENTURE GROUP II LLC
UNRELATED · INVESTMENT STRATEGY · DE · 20% owned · share of income -$10,543 · share of assets $83,757
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 26 September 2023
- IRS schema version
- 2022v5.0
- Source object
- 202312759349302306
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.