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Nonprofiteer
← TRAVIS CREDIT UNION

Form 990 for tax year 2023

Filed by TRAVIS CREDIT UNION.

Totals

Total revenue
$230,791,462
Total expenses
$201,088,581
Contributions and grants received
$0
Grants paid
$60,000
Program service revenue
$207,077,368
Investment income
$23,105,084
Other revenue
$609,010
Total assets, end of year
$4,934,431,346
Total liabilities, end of year
$4,436,552,162
Net assets or fund balances, end of year
$497,879,184
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

Listed in Part VII

  • DEBORAH ASPLING

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    6

  • KEVIN BURKE

    BOARD VICE CHAIR

    Total calculated
    $1,021
    From this org
    $1,021
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • MARY COBURN

    BOARD SECRETARY

    Total calculated
    $630
    From this org
    $630
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • DOUGLAS BEAUMONT

    BOARD TREASURER

    Total calculated
    $630
    From this org
    $630
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • TIM MURRILL

    BOARD MEMBER

    Total calculated
    $630
    From this org
    $630
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • LEONARD AUGUSTINE

    BOARD MEMBER

    Total calculated
    $630
    From this org
    $630
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • BRIAN HOWELL

    BOARD MEMBER

    Total calculated
    $630
    From this org
    $630
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • JAMES P KIRKLEY

    BOARD MEMBER

    Total calculated
    $1,833
    From this org
    $1,833
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • RICHARD WORD

    BOARD MEMBER

    Total calculated
    $630
    From this org
    $630
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • TIMOTHY TRUESDALE

    SUPV CMTE CHAIRPERSON

    Total calculated
    $1,148
    From this org
    $1,148
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • KARI MULHOLLAND

    SUPV CMTE MEMBER

    Total calculated
    $1,894
    From this org
    $1,894
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • JOHANNA BENKER

    SUPV CMTE MEMBER

    Total calculated
    $2,033
    From this org
    $2,033
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • KEVIN MILLER

    PRESIDENT/CEO

    Total calculated
    $1,408,450
    From this org
    $908,743
    From related orgs
    $0
    Other
    $499,707
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $693,339
    Bonus
    $204,750
    Other
    $10,654
    Deferred
    $467,081
    Nontaxable benefits
    $32,626
    Filer's total
    $1,408,450

  • IVAN JONES

    SVP, CHIEF FINANCIAL OFFICER

    Total calculated
    $532,948
    From this org
    $451,771
    From related orgs
    $0
    Other
    $81,177
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $393,062
    Bonus
    $51,605
    Other
    $7,104
    Deferred
    $77,946
    Nontaxable benefits
    $3,231
    Filer's total
    $532,948

  • MICHAEL JOSEPH LEVY

    SVP, GENERAL COUNSEL

    Total calculated
    $475,373
    From this org
    $343,392
    From related orgs
    $0
    Other
    $131,981
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $300,141
    Bonus
    $35,187
    Other
    $8,064
    Deferred
    $131,374
    Nontaxable benefits
    $607
    Filer's total
    $475,373

  • SCOTT A NICHOLS

    SVP, CHIEF INFORMATION OFFICER

    Total calculated
    $473,769
    From this org
    $324,566
    From related orgs
    $0
    Other
    $149,203
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $281,784
    Bonus
    $35,678
    Other
    $7,104
    Deferred
    $130,713
    Nontaxable benefits
    $18,490
    Filer's total
    $473,769

  • CATHERINE A JOHNSON-KOMINS

    SVP, CHIEF PEOPLE OFFICER

    Total calculated
    $402,984
    From this org
    $290,344
    From related orgs
    $0
    Other
    $112,640
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $281,877
    Bonus
    $1,363
    Other
    $7,104
    Deferred
    $112,033
    Nontaxable benefits
    $607
    Filer's total
    $402,984

  • DOUGLAS G MARSHALL

    SVP, CHIEF MARKETING OFFICER

    Total calculated
    $410,936
    From this org
    $279,446
    From related orgs
    $0
    Other
    $131,490
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $270,278
    Bonus
    $0
    Other
    $9,168
    Deferred
    $110,646
    Nontaxable benefits
    $20,844
    Filer's total
    $410,936

  • REVATI X RAO

    SVP, CHIEF LENDING OFFICER

    Total calculated
    $312,990
    From this org
    $260,814
    From related orgs
    $0
    Other
    $52,176
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $218,793
    Bonus
    $37,500
    Other
    $4,521
    Deferred
    $21,933
    Nontaxable benefits
    $30,243
    Filer's total
    $312,990

  • ERIK C WAKEFIELD

    SVP, OPERATIONS

    Total calculated
    $262,757
    From this org
    $230,662
    From related orgs
    $0
    Other
    $32,095
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $189,940
    Bonus
    $40,000
    Other
    $722
    Deferred
    $9,510
    Nontaxable benefits
    $22,585
    Filer's total
    $262,757

  • DENA M ROTHMANN

    MANAGING VP, RETAIL & BRANCH BANKING

    Total calculated
    $475,335
    From this org
    $439,850
    From related orgs
    $0
    Other
    $35,485
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $271,786
    Bonus
    $35,627
    Other
    $132,437
    Deferred
    $24,864
    Nontaxable benefits
    $10,621
    Filer's total
    $475,335

  • ARIC N KOSHIYAMA

    WEALTH ADVISOR

    Total calculated
    $447,039
    From this org
    $417,278
    From related orgs
    $0
    Other
    $29,761
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $60,303
    Bonus
    $356,619
    Other
    $356
    Deferred
    $16,500
    Nontaxable benefits
    $13,261
    Filer's total
    $447,039

  • MATTHEW PROSNESKI

    VP, RETAIL OPERATIONS

    Total calculated
    $357,546
    From this org
    $313,273
    From related orgs
    $0
    Other
    $44,273
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $164,854
    Bonus
    $19,452
    Other
    $128,967
    Deferred
    $17,190
    Nontaxable benefits
    $27,083
    Filer's total
    $357,546

  • GRANT D KARSAS

    VP, DIGITAL SERVICES

    Total calculated
    $302,614
    From this org
    $281,502
    From related orgs
    $0
    Other
    $21,112
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $258,176
    Bonus
    $22,846
    Other
    $480
    Deferred
    $20,505
    Nontaxable benefits
    $607
    Filer's total
    $302,614

  • CYNTHIA MCGUIRE

    VP, LENDING OPERATIONS

    Total calculated
    $316,108
    From this org
    $279,108
    From related orgs
    $0
    Other
    $37,000
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $245,631
    Bonus
    $24,209
    Other
    $9,268
    Deferred
    $24,654
    Nontaxable benefits
    $12,346
    Filer's total
    $316,108

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
  • 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
MATTHEW PROSNESKI RECEIVED SEVERANCE PAYMENT DURING THE TAX YEAR 2023. 457(B): THE CREDIT UNION HAS A NONQUALIFIED DEFERRED COMPENSATION PLAN FOR SENIOR MANAGEMENT.THE CREDIT UNION MAKES DISCRETIONARY CONTRIBUTIONS TO THE PLAN AND EMPLOYEES ARE ALLOWED TO CONTRIBUTE TO THE PLAN. THE DEFERRED COMPENSATION ACCOUNTS ARE SHOWN AS BOTH ASSETS AND LIABILITIES ON THE CREDIT UNION'S LIQUIDATION. THE BALANCE OF THE DEFERRED COMPENSATION ARRANGEMENTS, INCLUDED IN OTHER ASSETS AND ACCRUED EXPENSES AND OTHER LIABILITIES, WAS APPROXIMATELY $8,289,000 AND $7,614,000 AS OF DECEMBER 31,2023 AND 2022, RESPECTIVELY. DEFERRED COMPENSATION EXPENSE WAS APPROXIMATELY $416,000 AND $359,000 FOR YEARS ENDED DECEMBER 31,2023 AND 2022,RESPECTIVELY. 457(F): THE CREDIT UNION ESTABLISHED AN UNFUNDED EXECUTIVE RETENTION PAYMENT PLAN FOR CERTAIN KEY MEMBERS OF MANAGEMENT. THE PLAN PROVIDES A RETENTION PAYMENT IN THE AMOUNT SPECIFIED IN THE PARTICIPATION AGREEMENT FOR REMAINING EMPLOYED WITH THE CREDIT UNION UNTIL THE CLIFF VESTING DATE FOR SUCH PAYMENT. IF THE EXECUTIVE ELECTS TO DEFER THE CLIFF VESTING DATE, THE CREDIT UNION WILL CREDIT INTEREST, AT A RATE SPECIFIED IN THE PARTICIPATION AGREEMENT, ON THE DEFERRED BALANCE STARTING ON THE ORIGINAL DEFERRED VESTING DATE, COMPOUNDED ANNUALLY TO THE DATE OF PAYMENT. THE CREDIT UNION'S LIABILITY UNDER THE EXECUTIVE RETENTION PAYMENT PLAN WAS APPROXIMATELY $1,217,000 AND $870,000 AS OF DECEMBER 31, 2023 AND 2022, RESPECTIVELY. THE COSTS ASSOCIATED WITH THE PLAN TOTALED APPROXIMATELY $459,000 AND $0 FOR THE YEAR ENDED DECEMBER 31, 2023 AND 2022, RESPECTIVELY.THE PLAN HAD A NET GAIN OF APPROXIMATELY $2,127,000 FOR THE YEAR ENDED DECEMBER 31, 2022, DUE TO THE DEPARTURE OF SEVERAL PARTICIPANTS.

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

  • TRAVIS LOGISTICS OFFICER ASSOC

    $10,000

    TO SUPPORT THE UNITED STATES AIR FORCE BY PROVIDING EDUCATIONAL OPPORTUNITIES WITH AN EMPHASIS ON STRATEGIC ENGAGEMENT TO THE TRAVIS AFB LOGISTICS COMMUNITY.

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.

Provenance

Return type
form_990
Tax year
2023
Filed
25 October 2024
IRS schema version
2023v5.1
Source object
202413049349302736

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