Form 990 for tax year 2022
Filed by CREDIT UNIONS IN THE STATE OF CALIFORNIA.
Totals
- Total revenue
- $2,721,085
- Total expenses
- $2,660,754
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $2,170,033
- Investment income
- $485,555
- Other revenue
- $65,497
- Total assets, end of year
- $80,914,523
- Total liabilities, end of year
- $74,767,700
- Net assets or fund balances, end of year
- $6,146,823
- 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 $1,800,863 · related or exempt $1,800,863
-
2b · Program service revenue: OTHER OPERATING INCOME
total $213,866 · related or exempt $213,866
-
2c · Program service revenue: FEE INCOME
total $155,304 · related or exempt $143,935 · unrelated business $11,369
-
3 · Investment income
total $485,555 · related or exempt $485,555
-
6a · Gross rents
real property $876,102
-
6b · Less rental expenses
real property $810,605
-
6c · Rental income or loss
real property $65,497
-
6d · Net rental income or loss
total $65,497 · excluded $65,497
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $440,359
-
7 · Other salaries and wages
total $453,687
-
8 · Pension plan contributions
total $19,676
-
9 · Other employee benefits
total $37,423
-
10 · Payroll taxes
total $62,156
-
11b · Fees: legal
total $22,799
-
11c · Fees: accounting
total $77,873
-
11g · Fees: other
total $91,639
-
12 · Advertising and promotion
total $58,578
-
13 · Office expenses
total $230,310
-
14 · Information technology
total $330,374
-
16 · Occupancy
total $264,866
-
17 · Travel
total $17,357
-
20 · Interest
total $126,495
-
22 · Depreciation, depletion and amortization
total $172,730
-
23 · Insurance
total $5,050
-
24a · Other expenses: LOAN SERVICING EXPENSE
total $102,743
-
24b · Other expenses: MISCELLANEOUS EXPENSE
total $74,383
-
24c · Other expenses: PROVISION FOR LOAN & LE
total $58,829
-
24d · Other expenses: OPERATING FEES
total $13,427
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $691,041 · end of year $686,347
-
2 · Savings and temporary cash investments
beginning of year $31,377,041 · end of year $6,184,462
-
5 · Loans and receivables from officers and key people
beginning of year $4,051,367 · end of year $4,215,201
-
9 · Prepaid expenses and deferred charges
beginning of year $346,656 · end of year $322,221
-
10a · Land, buildings and equipment: cost or other basis
$16,623,989
-
10b · Land, buildings and equipment: accumulated depreciation
$6,478,240
-
10c · Land, buildings and equipment, net
beginning of year $10,482,617 · end of year $10,145,749
-
13 · Investments: program-related
beginning of year $30,172,379 · end of year $54,433,862
-
15 · Other assets
beginning of year $4,641,291 · end of year $4,926,681
-
17 · Accounts payable and accrued expenses
beginning of year $769,771 · end of year $847,686
-
25 · Other liabilities
beginning of year $74,959,556 · end of year $73,920,014
-
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 $6,033,065 · end of year $6,146,823
Mission and programs · 2022
Mission
UNIVERSAL CITY STUDIOS 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, UNIVERSAL CITY STUDIOS 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 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.
-
UNIVERSAL CITY STUDIOS CREDIT UNION'S OPERATIONS ARE PRINCIPALLY RELATED TO HOLDING DEPOSITS FOR AND MAKING LOANS TO EMPLOYEES OF UNIVERSAL STUDIOS, INC., DREAMWORKS, SKG, AND OTHER MEMBERS DEFINED IN THE CREDIT UNION'S BYLAWS.
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
June SmithJUNE SMITH
CHAIRPERSON
- Total calculated
- $0
- Hours/week
- 1
-
James MaullJAMES MAULL
VICE CHAIRPERSON
- Total calculated
- $0
- Hours/week
- 1
-
Melissa LefflerMELISSA LEFFLER
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Leonard DirisioLEONARD DIRISIO
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Janet EtzkornJANET ETZKORN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Paula BrandPAULA BRAND
SUPV CMTE CHAIRPERSON
- Total calculated
- $0
- Hours/week
- 1
-
Valerie AdamsVALERIE ADAMS
SUPV CMTE MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Willa KingWILLA KING
SUPV CMTE MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Randy LencioniRANDY LENCIONI
SUPV CMTE MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Ralph RiccatelliRALPH RICCATELLI
SUPV CMTE MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Thomas OttTHOMAS OTT
CEO
- Total calculated
- $189,234
- From this org
- $182,136
- From related orgs
- $0
- Other
- $7,098
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $163,263
- Bonus
- $10,000
- Other
- $8,873
- Deferred
- $0
- Nontaxable benefits
- $7,098
- Filer's total
- $189,234
-
Jesus LopezJESUS LOPEZ
EXECUTIVE VP
- Total calculated
- $107,905
- From this org
- $98,105
- From related orgs
- $0
- Other
- $9,800
- Hours/week
- 40
-
Brian HollisterBRIAN HOLLISTER
DIRECTOR OF FINANCE
- Total calculated
- $101,359
- From this org
- $92,067
- From related orgs
- $0
- Other
- $9,292
- Hours/week
- 40
-
Ann BabichANN BABICH
VP OF OPERATIONS
- Total calculated
- $83,893
- From this org
- $68,051
- From related orgs
- $0
- Other
- $15,842
- 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 · 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
- AS PART OF A SERP WITH THE CHIEF EXECUTIVE OFFICER (CEO), THE CREDIT UNION ENTERED INTO A COLLATERAL ASSIGNMENT SPLIT DOLLAR LIFE INSURANCE ARRANGEMENT (THE ARRANGEMENT) WITH THE CEO WHEREBY THE CEO PURCHASED A WHOLE LIFE INSURANCE POLICY (THE POLICY) WITH A TEN-YEAR PREMIUM PAYMENT SCHEDULE. UNDER THE ARRANGEMENT, THE CEO BORROWED THE FIRST FIVE YEARS AND NINTH AND TENTH YEARS OF PREMIUMS FROM THE CREDIT UNION. PREMIUMS FOR YEARS SIX, SEVEN AND EIGHT WERE BORROWED AGAINST THE INSURANCE POLICY VALUE. THESE THREE LOANS WERE FULLY PAID OFF IN 2017. THE CREDIT UNION'S LOAN RECEIVABLE IS COLLATERALIZED BY THE CASH SURRENDER VALUE AND DEATH BENEFIT OF THE POLICY VIA A MEMORANDUM OF AGREEMENT BETWEEN THE CREDIT UNION AND CEO.
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
- 31 October 2023
- IRS schema version
- 2022v5.0
- Source object
- 202343079349303149
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