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Nonprofiteer
← DEL NORTE CREDIT UNION

Form 990 for tax year 2023

Filed by DEL NORTE CREDIT UNION.

Totals

Total revenue
$55,559,728
Total expenses
$47,477,828
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$55,559,728
Investment income
$0
Other revenue
$0
Total assets, end of year
$1,077,444,027
Total liabilities, end of year
$968,171,581
Net assets or fund balances, end of year
$109,272,446
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: PROGRAM SERVICE REVENU

    total $55,390,483 · related or exempt $55,390,483

  • 2b · Program service revenue: INVESTMENT SERVICES

    total $169,245 · unrelated business $169,245

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $2,969,282

  • 7 · Other salaries and wages

    total $11,862,059

  • 8 · Pension plan contributions

    total $492,009

  • 9 · Other employee benefits

    total $2,077,191

  • 10 · Payroll taxes

    total $1,174,255

  • 11b · Fees: legal

    total $18,644

  • 11c · Fees: accounting

    total $127,200

  • 11g · Fees: other

    total $1,161,582

  • 12 · Advertising and promotion

    total $982,179

  • 13 · Office expenses

    total $5,995,524

  • 16 · Occupancy

    total $986,233

  • 17 · Travel

    total $162,169

  • 19 · Conferences, conventions and meetings

    total $223,258

  • 20 · Interest

    total $6,396,853

  • 22 · Depreciation, depletion and amortization

    total $1,386,389

  • 23 · Insurance

    total $267,314

  • 24a · Other expenses: PROVISION FOR LOAN LOSS

    total $6,470,500

  • 24b · Other expenses: LOAN SERVICING EXPENSE

    total $2,456,552

  • 24c · Other expenses: OPERATIONS

    total $2,268,635

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,525,902 · end of year $1,372,966

  • 2 · Savings and temporary cash investments

    beginning of year $29,653,622 · end of year $33,635,462

  • 4 · Accounts receivable

    beginning of year $6,053,371 · end of year $5,112,528

  • 7 · Other notes and loans receivable

    beginning of year $767,842,073 · end of year $862,471,885

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,086,854 · end of year $1,098,227

  • 10a · Land, buildings and equipment: cost or other basis

    $46,856,715

  • 10b · Land, buildings and equipment: accumulated depreciation

    $17,964,389

  • 10c · Land, buildings and equipment, net

    beginning of year $29,205,112 · end of year $28,892,326

  • 13 · Investments: program-related

    beginning of year $182,533,921 · end of year $133,415,908

  • 15 · Other assets

    beginning of year $10,141,815 · end of year $11,444,725

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,738,800 · end of year $4,442,899

  • 19 · Deferred revenue

    beginning of year $539,863 · end of year $536,339

  • 25 · Other liabilities

    beginning of year $920,336,805 · end of year $963,192,343

  • 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 $104,427,202 · end of year $109,272,446

Mission and programs · 2023

Mission

DEL NORTE CREDIT UNION (DNCU) IS ORGANIZED AS A COOPERATIVE ASSOCIATION WITH THE MISSION OF IMPROVING LIVES BY PROMOTING THRIFT AMONG, AND CREATING A SOURCE OF CREDIT FOR ITS MEMBERS.

  • THE CREDIT UNION PROVIDES DRAFT AND SHARE ACCOUNTS, CONSUMER LOANS, SHARE CERTIFICATES, AND OTHER EXEMPT FUNCTION ACTIVITIES TO ITS MEMBERS.

As filed on the 2023 return.

Listed in Part VII

  • Clyde Leyba

    BOARD MEMBER/CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Art Salgado

    BOARD MEMBER/VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Levi Lopez

    BOARD MEMBER/TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Len Montoya

    BOARD MEMBER/SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Julie Feldman

    BOARD MEMBER/DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Benito Salazar

    BOARD MEMBER/DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Luis Alba

    BOARD MEMBER/DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Martin Varela

    BOARD MEMBER/DIRECTOR (UNTIL 5/11/23)

    Total calculated
    $0
    Hours/week
    1

  • Steven Santistevan

    BOARD MEMBER/DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Charles Chuck Valenti

    CEO

    Total calculated
    $404,900
    From this org
    $357,473
    From related orgs
    $0
    Other
    $47,427
    Hours/week
    32

    Schedule J breakdown matched by us

    Base
    $324,527
    Bonus
    $30,571
    Other
    $2,375
    Deferred
    $46,487
    Nontaxable benefits
    $23,440
    Filer's total
    $427,400

  • David Weidauer

    EVP

    Total calculated
    $322,992
    From this org
    $279,389
    From related orgs
    $0
    Other
    $43,603
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $262,611
    Bonus
    $15,452
    Other
    $1,326
    Deferred
    $13,973
    Nontaxable benefits
    $29,630
    Filer's total
    $322,992

  • Pamela Atencio

    CHIEF OPERATIONS OFFICER

    Total calculated
    $222,348
    From this org
    $183,449
    From related orgs
    $0
    Other
    $38,899
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $174,246
    Bonus
    $8,883
    Other
    $320
    Deferred
    $19,015
    Nontaxable benefits
    $19,884
    Filer's total
    $222,348

  • Christopher McGee

    CHIEF INFORMATION OFFICER

    Total calculated
    $241,964
    From this org
    $189,657
    From related orgs
    $0
    Other
    $52,307
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $168,383
    Bonus
    $6,042
    Other
    $15,232
    Deferred
    $20,303
    Nontaxable benefits
    $32,004
    Filer's total
    $241,964

  • Kerry Stacy

    CHIEF PERFORMANCE OFFICER

    Total calculated
    $245,811
    From this org
    $195,850
    From related orgs
    $0
    Other
    $49,961
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $185,376
    Bonus
    $9,738
    Other
    $736
    Deferred
    $20,424
    Nontaxable benefits
    $29,537
    Filer's total
    $245,811

  • Jolene Allen

    CHIEF CULTURE OFFICER

    Total calculated
    $107,833
    From this org
    $93,595
    From related orgs
    $0
    Other
    $14,238
    Hours/week
    40

  • Debbie Salazar

    CHIEF EXP. OFFICER

    Total calculated
    $231,765
    From this org
    $199,361
    From related orgs
    $0
    Other
    $32,404
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $192,602
    Bonus
    $6,171
    Other
    $588
    Deferred
    $20,767
    Nontaxable benefits
    $11,637
    Filer's total
    $231,765

  • Kimberly Currie

    CHIEF MARKETING OFFICER

    Total calculated
    $228,912
    From this org
    $179,874
    From related orgs
    $0
    Other
    $49,038
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $168,879
    Bonus
    $8,883
    Other
    $2,112
    Deferred
    $18,884
    Nontaxable benefits
    $30,154
    Filer's total
    $228,912

  • Kevin Southwick

    CHIEF LENDING OFFICER

    Total calculated
    $227,692
    From this org
    $187,703
    From related orgs
    $0
    Other
    $39,989
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $159,002
    Bonus
    $9,201
    Other
    $19,500
    Deferred
    $19,435
    Nontaxable benefits
    $20,554
    Filer's total
    $227,692

  • Amy McHugh

    SVP GOVERNANCE, RISK & REGULATORY AFFAIRS

    Total calculated
    $186,661
    From this org
    $159,511
    From related orgs
    $0
    Other
    $27,150
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $152,980
    Bonus
    $4,738
    Other
    $1,793
    Deferred
    $16,308
    Nontaxable benefits
    $10,841
    Filer's total
    $186,660

  • Marco Padilla

    SR VP LENDING

    Total calculated
    $216,157
    From this org
    $170,267
    From related orgs
    $0
    Other
    $45,890
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $164,509
    Bonus
    $5,438
    Other
    $320
    Deferred
    $13,911
    Nontaxable benefits
    $31,978
    Filer's total
    $216,156

  • Mark Riek

    CHIEF FINANCE OFFICER

    Total calculated
    $192,063
    From this org
    $156,646
    From related orgs
    $0
    Other
    $35,417
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $141,532
    Bonus
    $2,655
    Other
    $12,459
    Deferred
    $15,315
    Nontaxable benefits
    $20,102
    Filer's total
    $192,063

  • John R Molenda Jr

    CEO ELECT

    Total calculated
    $94,347
    From this org
    $83,715
    From related orgs
    $0
    Other
    $10,632
    Hours/week
    40

  • Timothy Vilter

    CHIEF FINANCE OFFICER (UNTIL 2/14/23)

    Total calculated
    $45,837
    From this org
    $40,937
    From related orgs
    $0
    Other
    $4,900
    Hours/week
    40

  • Ralph Flores

    MORTGAGE LOAN OFFICER

    Total calculated
    $198,144
    From this org
    $165,807
    From related orgs
    $0
    Other
    $32,337
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $155,055
    Bonus
    $2,229
    Other
    $8,523
    Deferred
    $9,688
    Nontaxable benefits
    $22,649
    Filer's total
    $198,144

  • Debra Chavez

    VP OF ACCOUNTING

    Total calculated
    $177,859
    From this org
    $142,800
    From related orgs
    $0
    Other
    $35,059
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $137,843
    Bonus
    $2,715
    Other
    $2,242
    Deferred
    $14,323
    Nontaxable benefits
    $20,736
    Filer's total
    $177,859

  • Dana Jaramillo

    SVP SUPPORT OPS

    Total calculated
    $182,769
    From this org
    $144,944
    From related orgs
    $0
    Other
    $37,825
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $122,854
    Bonus
    $6,091
    Other
    $15,999
    Deferred
    $15,332
    Nontaxable benefits
    $22,494
    Filer's total
    $182,770

  • Matthew Cale

    VP IT CORE SYSTEMS

    Total calculated
    $177,274
    From this org
    $142,269
    From related orgs
    $0
    Other
    $35,005
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $136,058
    Bonus
    $4,835
    Other
    $1,376
    Deferred
    $14,737
    Nontaxable benefits
    $20,268
    Filer's total
    $177,274

  • Lori Schutt

    SVP OF HR

    Total calculated
    $171,765
    From this org
    $136,650
    From related orgs
    $0
    Other
    $35,115
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $119,107
    Bonus
    $3,808
    Other
    $13,735
    Deferred
    $12,616
    Nontaxable benefits
    $22,499
    Filer's total
    $171,765

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 · Form 990 of other organizations
  • 3 · Written employment contract
  • 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 1A
THE BOARD OF DIRECTORS DO NOT RECEIVE COMPENSATION, BUT ARE ALLOWED $7,500 PER YEAR FOR THE REIMBURSEMENT OF ORDINARY, NECESSARY, AND REASONABLE BUSINESS EXPENSES INCURRED BY VOLUNTEERS IN THE PERFORMANCE OF THEIR DUTIES AND RESPONSIBILITIES INCLUDING TRAVEL FOR EDUCATIONAL PURPOSES RELATED TO THEIR DUTIES WHICH INCLUDE SPOUSES TRAVEL, IF THEY TRAVEL WITH THEM.
PART I, LINE 4B
THE FOLLOWING INDIVIDUALS PARTICIPATE IN A 457(B) PLAN: CHARLES (CHUCK) VALENTI, DAVID WEIDAUER, CHRISTOPHER MCGEE, KERRY STACY, JOLENE ALLEN, DEBBIE SALAZAR, KIMBERLY CURRIE, KEVIN SOUTHWICK, PAMELA ATENCIO, MARCO PADILLA, AMY MCHUGH, DANA JARAMILLO, TIMOTHY VILTER, MATTHEW CALE, DEBRA CHAVEZ, MARK RIEK, LORI SCHUTT, AND RALPH FLORES. CHARLES (CHUCK) VALENTI CONTRIBUTED $22,500 TO THE 457(B) PLAN THROUGH PAYROLL DEDUCTIONS DURING 2023. JOLENE ALLEN WITHDREW $25,437 FROM THE 457(B) PLAN DURING 2023. ALL EMPLOYEES BELOW WERE ISSUED AN EMPLOYER CONTRIBUTION. DAVID WEIDAUER - $8,170 CHRISTOPHER MCGEE - $6,023 KERRY STACY - $5,844 DEBBIE SALAZAR - $6,151 KIMBERLY CURRIE - $5,449 KEVIN SOUTHWICK - $5,574 PAMELA ATENCIO - $5,450 MARCO PADILLA - $5,324 AMY MCHUGH - $4,578 DANA JARAMILLO - $4,423 MATTHEW CALE - $4,157 DEBRA CHAVEZ - $3,712 MARK RIEK - $3,635 LORI SCHUTT - $2,591 RALPH FLORES - $1,164

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.

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.

  • DEL NORTE LOV FOUNDATION

    501(C)(3) · SCHOLARSHIPS FUNDING · NM · controlled entity

    Directly controlled by DEL NORTE CREDIT UNION

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.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • CU ANYTIME LLC

    RELATED · SHARED ATM · NM · 12.28% owned · share of income $34,337 · share of assets $662,079

    Directly controlled by NONE

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • CUPR1ME INC

    C · FINANCIAL SERVICES · NM · 100% owned · share of income -$7,616 · share of assets $176,747 · controlled entity

    Directly controlled by DEL NORTE CREDIT UNION

Provenance

Return type
form_990
Tax year
2023
Filed
24 October 2024
IRS schema version
2023v5.1
Source object
202402999349301535

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