Form 990 for tax year 2023
Filed by CREDIT UNIONS IN THE STATE OF WASHINGTON.
Totals
- Total revenue
- $3,165,141
- Total expenses
- $3,040,988
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $1,300,820
- Investment income
- $1,856,936
- Other revenue
- $7,385
- Total assets, end of year
- $120,774,414
- Total liabilities, end of year
- $106,381,485
- Net assets or fund balances, end of year
- $14,392,929
- 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 - MEMBER LOANS
total $1,162,813 · related or exempt $1,162,813
-
2b · Program service revenue: INSURANCE INCOME
total $58,654 · related or exempt $58,654
-
2c · Program service revenue: DEBT PROTECTION
total $42,913 · related or exempt $42,913
-
2d · Program service revenue: AD&D INCOME
total $21,667 · related or exempt $21,667
-
2e · Program service revenue: FEES AND CHARGES
total $14,773 · related or exempt $14,773
-
3 · Investment income
total $1,859,538 · excluded $1,859,538
-
7b · Less cost or other basis and sales expenses
securities $2,602
-
7c · Gain or loss
securities -$2,602
-
7d · Net gain or loss
total -$2,602 · related or exempt -$2,602
-
11a · Other revenue: MISCELLANEOUS INCOME
total $7,385 · related or exempt $7,385
-
11e · Other revenue, total
$7,385
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $197,670
-
7 · Other salaries and wages
total $390,841
-
8 · Pension plan contributions
total $49,056
-
9 · Other employee benefits
total $137,874
-
10 · Payroll taxes
total $43,408
-
11b · Fees: legal
total $1,785
-
11c · Fees: accounting
total $39,877
-
11g · Fees: other
total $163,253
-
12 · Advertising and promotion
total $21,913
-
13 · Office expenses
total $42,817
-
16 · Occupancy
total $78,695
-
19 · Conferences, conventions and meetings
total $15,652
-
22 · Depreciation, depletion and amortization
total $53,615
-
23 · Insurance
total $34,357
-
24a · Other expenses: DIVIDENDS
total $1,700,663
-
24b · Other expenses: EXAMINATION FEE
total $48,000
-
24c · Other expenses: LOAN SERVICING EXPENSE
total $19,490
-
24d · Other expenses: MISCELLANEOUS EXPENSE
total $1,913
-
24e · All other expenses
total $109
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $751,118 · end of year $401,378
-
2 · Savings and temporary cash investments
beginning of year $4,200,141 · end of year $444,631
-
7 · Other notes and loans receivable
beginning of year $25,856,524 · end of year $29,851,712
-
9 · Prepaid expenses and deferred charges
beginning of year $57,953 · end of year $45,451
-
10a · Land, buildings and equipment: cost or other basis
$1,771,981
-
10b · Land, buildings and equipment: accumulated depreciation
$858,626
-
10c · Land, buildings and equipment, net
beginning of year $939,334 · end of year $913,355
-
12 · Investments: other securities
beginning of year $93,742,000 · end of year $84,915,000
-
15 · Other assets
beginning of year $4,153,204 · end of year $4,202,887
-
17 · Accounts payable and accrued expenses
beginning of year $349,114 · end of year $48,165
-
25 · Other liabilities
beginning of year $115,090,040 · end of year $106,333,320
-
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 $14,261,120 · end of year $14,392,929
Mission and programs · 2023
Mission
TLCU IS A MEMBER-OWNED FINANCIAL INSTITUTION WHOSE PURPOSE IS TO MEET ITS MEMBERS' FINANCIAL NEEDS AND PROMOTE THE FINANCIAL WELL-BEING OF ITS MEMBERS BY PROVIDING THEM WITH FINANCIAL SERVICES IN A FRIENDLY AND CONSIDERATE MANNER.
Activities or mission (Part I)
CREDIT UNION COOPERATIVE PROMOTING THRIFT AND OFFERING FINANCIAL SERVICES TO MEMBERS.
-
MUTUAL, MEMBERSHIP BENEFIT PROGRAMS, GENERAL/OTHER. PROVIDE 3,268 MEMBERS THE OPPORTUNITY FOR SAVINGS, DEPOSITS, LOANS, AND OTHER FINANCIAL SERVICES. GRANTED 425 LOANS TOTALING $12,798,049.
As filed on the 2023 return.
Listed in Part VII
-
Marland Guinn JrMARLAND GUINN JR
PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
Robert Deyoung JrROBERT DEYOUNG JR
VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
Theresa SammalistoTHERESA SAMMALISTO
BOARD SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Lance AndersonLANCE ANDERSON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Tim FakerTIM FAKER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Bill SyrovatkaBILL SYROVATKA
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Aaron SkiffingtonAARON SKIFFINGTON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Craig CurranCRAIG CURRAN
SUPERVISORY CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Robert McGheeROBERT MCGHEE
SUPERVISORY MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Douglas HaskinsDOUGLAS HASKINS
SUPERVISORY MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Brandon DicksBRANDON DICKS
SUPERVISORY MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Thomas KnutsonTHOMAS KNUTSON
SUPERVISORY MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Mark MerrimanMARK MERRIMAN
CEO
- Total calculated
- $228,396
- From this org
- $197,670
- From related orgs
- $0
- Other
- $30,726
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $184,178
- Bonus
- $4,991
- Other
- $8,501
- Deferred
- $0
- Nontaxable benefits
- $30,726
- Filer's total
- $228,396
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 · 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 HAS A 457(F) PLAN AND THE CEO MARK IS THE ONLY EMPLOYEE UNDER THE PLAN. THE FAIR MARKET VALUE OF THE PLAN AS OF DECEMBER 31ST, 2023 WAS $2,524,258.
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
- 2023
- Filed
- 28 October 2024
- IRS schema version
- 2023v5.1
- Source object
- 202403039349301545
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