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Nonprofiteer
← Together Credit Union

Form 990 for tax year 2023

Filed by Together Credit Union.

Totals

Total revenue
$135,539,350
Total expenses
$129,554,257
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$122,481,021
Investment income
$13,058,329
Other revenue
$0
Total assets, end of year
$2,417,889,259
Total liabilities, end of year
$2,216,522,080
Net assets or fund balances, end of year
$201,367,179
Program services expenses (Part IX)
$129,554,257
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$129,554,257

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

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: Income from Loans

    total $95,485,305 · related or exempt $95,485,305 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: Income from Fees

    total $26,995,716 · related or exempt $26,888,859 · unrelated business $106,857 · excluded $0

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $13,058,329 · related or exempt $13,058,329 · unrelated business $0 · excluded $0

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0 · program services $0

  • 2 · Grants to domestic individuals

    total $0 · program services $0

  • 3 · Grants to foreign organizations and individuals

    total $0 · program services $0

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $7,843,899 · program services $7,843,899 · management and general $0 · fundraising $0

  • 6 · Compensation of disqualified persons

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 7 · Other salaries and wages

    total $22,684,777 · program services $22,684,777 · management and general $0 · fundraising $0

  • 8 · Pension plan contributions

    total $1,948,012 · program services $1,948,012 · management and general $0 · fundraising $0

  • 9 · Other employee benefits

    total $9,209,378 · program services $9,209,378 · management and general $0 · fundraising $0

  • 10 · Payroll taxes

    total $2,217,447 · program services $2,217,447 · management and general $0 · fundraising $0

  • 11a · Fees: management

    total $434,869 · program services $434,869 · management and general $0 · fundraising $0

  • 11b · Fees: legal

    total $291,953 · program services $291,953 · management and general $0 · fundraising $0

  • 11c · Fees: accounting

    total $343,569 · program services $343,569 · management and general $0 · fundraising $0

  • 11d · Fees: lobbying

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11e · Fees: professional fundraising services

    total $0 · fundraising $0

  • 11f · Fees: investment management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11g · Fees: other

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 12 · Advertising and promotion

    total $3,950,929 · program services $3,950,929 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $8,348,768 · program services $8,348,768 · management and general $0 · fundraising $0

  • 14 · Information technology

    total $7,297,604 · program services $7,297,604 · management and general $0 · fundraising $0

  • 15 · Royalties

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $2,685,505 · program services $2,685,505 · management and general $0 · fundraising $0

  • 17 · Travel

    total $407,798 · program services $407,798 · management and general $0 · fundraising $0

  • 18 · Travel or entertainment for public officials

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $407,798 · program services $407,798 · management and general $0 · fundraising $0

  • 20 · Interest

    total $33,385,678 · program services $33,385,678 · management and general $0 · fundraising $0

  • 21 · Payments to affiliates

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $4,166,845 · program services $4,166,845 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $412,581 · program services $412,581 · management and general $0 · fundraising $0

  • 24a · Other expenses: Provision for Loan Losses

    total $10,150,000 · program services $10,150,000 · management and general $0 · fundraising $0

  • 24b · Other expenses: Loan Servicing

    total $8,402,825 · program services $8,402,825 · management and general $0 · fundraising $0

  • 24c · Other expenses: ATM/ITM Expenses

    total $1,084,734 · program services $1,084,734 · management and general $0 · fundraising $0

  • 24d · Other expenses: All other expenses

    total $3,879,288 · program services $3,879,288 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $10,080,561 · end of year $9,652,166

  • 2 · Savings and temporary cash investments

    beginning of year $2,814,068 · end of year $59,059

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $23,104,430 · end of year $5,873,650

  • 5 · Loans and receivables from officers and key people

    beginning of year $6,379,508 · end of year $5,922,312

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $1,930,668,697 · end of year $1,919,144,988

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $23,000,920 · end of year $19,569,306

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

    $90,895,809

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

    $41,406,609

  • 10c · Land, buildings and equipment, net

    beginning of year $48,524,154 · end of year $49,489,200

  • 11 · Investments: publicly traded securities

    beginning of year $358,343,103 · end of year $365,384,990

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $43,490,666 · end of year $42,793,588

  • 17 · Accounts payable and accrued expenses

    beginning of year $23,956,610 · end of year $25,204,326

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $1,344,267 · end of year $950,156

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $139,000,000 · end of year $190,000,000

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $2,091,189,722 · end of year $2,000,367,598

  • 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 $190,915,508 · end of year $201,367,179

Mission and programs · 2023

Mission

All activities pertain to a state-chartered credit union that provides deposit and lending services to its membership which approximates 141,000

Activities or mission (Part I)

All activities pertain to a state chartered credit union that provides deposit and lending services to its membership which approximates 141,000

  • Loans to members

    Expenses $91,268,902 · Revenue $95,485,305

  • Service fees

    Expenses $25,803,650 · Revenue $26,995,716

  • Investments

    Expenses $12,481,705 · Revenue $13,058,329

As filed on the 2023 return.

Listed in Part VII

  • R McKay

    President/CEO

    Total calculated
    $1,871,259
    From this org
    $887,699
    From related orgs
    $0
    Other
    $983,560
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $666,866
    Bonus
    $201,070
    Other
    $19,763
    Deferred
    $963,636
    Nontaxable benefits
    $19,925
    Filer's total
    $1,871,260

  • M Dougherty

    CLO

    Total calculated
    $529,708
    From this org
    $332,739
    From related orgs
    $0
    Other
    $196,969
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $276,906
    Bonus
    $47,000
    Other
    $8,833
    Deferred
    $176,164
    Nontaxable benefits
    $20,806
    Filer's total
    $529,709

  • C Trunko

    CPO

    Total calculated
    $417,473
    From this org
    $375,795
    From related orgs
    $0
    Other
    $41,678
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $288,467
    Bonus
    $77,000
    Other
    $10,327
    Deferred
    $16,607
    Nontaxable benefits
    $25,071
    Filer's total
    $417,472

  • D Wyatt

    CIO

    Total calculated
    $403,553
    From this org
    $374,032
    From related orgs
    $0
    Other
    $29,521
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $290,056
    Bonus
    $77,044
    Other
    $6,932
    Deferred
    $20,577
    Nontaxable benefits
    $8,944
    Filer's total
    $403,553

  • T Kraus

    COO

    Total calculated
    $390,469
    From this org
    $339,277
    From related orgs
    $0
    Other
    $51,192
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $281,498
    Bonus
    $47,000
    Other
    $10,779
    Deferred
    $19,941
    Nontaxable benefits
    $31,251
    Filer's total
    $390,469

  • R Kampwerth

    CFO

    Total calculated
    $323,282
    From this org
    $259,877
    From related orgs
    $0
    Other
    $63,405
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $151,174
    Bonus
    $105,000
    Other
    $3,703
    Deferred
    $51,664
    Nontaxable benefits
    $11,741
    Filer's total
    $323,282

  • E Belshe

    Chief Admin & Legal Officer

    Total calculated
    $304,898
    From this org
    $287,635
    From related orgs
    $0
    Other
    $17,263
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $280,000
    Bonus
    $7,136
    Other
    $498
    Deferred
    $17,241
    Nontaxable benefits
    $22
    Filer's total
    $304,897

  • V Vernon

    MLO

    Total calculated
    $299,443
    From this org
    $282,521
    From related orgs
    $0
    Other
    $16,922
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $21,424
    Bonus
    $260,617
    Other
    $480
    Deferred
    $16,922
    Nontaxable benefits
    $0
    Filer's total
    $299,443

  • N Scudieri

    VP

    Total calculated
    $283,085
    From this org
    $240,055
    From related orgs
    $0
    Other
    $43,030
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $197,642
    Bonus
    $41,041
    Other
    $1,372
    Deferred
    $13,789
    Nontaxable benefits
    $29,241
    Filer's total
    $283,085

  • J Cromer

    VP

    Total calculated
    $269,530
    From this org
    $246,114
    From related orgs
    $0
    Other
    $23,416
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $201,458
    Bonus
    $42,096
    Other
    $2,559
    Deferred
    $14,821
    Nontaxable benefits
    $8,596
    Filer's total
    $269,530

  • J Moran

    VP

    Total calculated
    $263,180
    From this org
    $211,309
    From related orgs
    $0
    Other
    $51,871
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $185,048
    Bonus
    $19,000
    Other
    $7,262
    Deferred
    $21,159
    Nontaxable benefits
    $30,712
    Filer's total
    $263,181

  • P Sheahan

    VP

    Total calculated
    $256,636
    From this org
    $212,424
    From related orgs
    $0
    Other
    $44,212
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $192,108
    Bonus
    $18,250
    Other
    $2,066
    Deferred
    $13,142
    Nontaxable benefits
    $31,070
    Filer's total
    $256,636

  • M Imo-Moffitt

    MLO

    Total calculated
    $256,236
    From this org
    $214,934
    From related orgs
    $0
    Other
    $41,302
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $24,106
    Bonus
    $189,920
    Other
    $908
    Deferred
    $13,043
    Nontaxable benefits
    $28,260
    Filer's total
    $256,237

  • J Boyer

    VP

    Total calculated
    $250,315
    From this org
    $209,432
    From related orgs
    $0
    Other
    $40,883
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $189,263
    Bonus
    $19,380
    Other
    $789
    Deferred
    $6,384
    Nontaxable benefits
    $34,498
    Filer's total
    $250,314

  • P Ricra

    Director

    Total calculated
    $242,106
    From this org
    $197,235
    From related orgs
    $0
    Other
    $44,871
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $179,099
    Bonus
    $17,603
    Other
    $532
    Deferred
    $12,350
    Nontaxable benefits
    $32,522
    Filer's total
    $242,106

  • C Lindauer

    VP

    Total calculated
    $223,936
    From this org
    $182,370
    From related orgs
    $0
    Other
    $41,566
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $164,011
    Bonus
    $16,997
    Other
    $1,362
    Deferred
    $11,338
    Nontaxable benefits
    $30,228
    Filer's total
    $223,936

  • K Kunze

    VP

    Total calculated
    $223,925
    From this org
    $183,393
    From related orgs
    $0
    Other
    $40,532
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $167,771
    Bonus
    $15,164
    Other
    $458
    Deferred
    $11,311
    Nontaxable benefits
    $29,221
    Filer's total
    $223,925

  • J Bruno

    VP

    Total calculated
    $217,421
    From this org
    $211,907
    From related orgs
    $0
    Other
    $5,514
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $20,900
    Bonus
    $39,948
    Other
    $151,059
    Deferred
    $4,422
    Nontaxable benefits
    $1,091
    Filer's total
    $217,420

  • J Criswell

    Director

    Total calculated
    $215,007
    From this org
    $175,935
    From related orgs
    $0
    Other
    $39,072
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $172,875
    Bonus
    $2,561
    Other
    $498
    Deferred
    $10,813
    Nontaxable benefits
    $28,260
    Filer's total
    $215,007

  • L Skube

    VP

    Total calculated
    $206,148
    From this org
    $192,043
    From related orgs
    $0
    Other
    $14,105
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $165,662
    Bonus
    $24,400
    Other
    $1,981
    Deferred
    $11,653
    Nontaxable benefits
    $2,452
    Filer's total
    $206,148

  • P Scheibal

    Director

    Total calculated
    $202,087
    From this org
    $171,367
    From related orgs
    $0
    Other
    $30,720
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $167,092
    Bonus
    $196
    Other
    $4,080
    Deferred
    $10,443
    Nontaxable benefits
    $20,276
    Filer's total
    $202,087

  • S Mueller

    VP

    Total calculated
    $194,199
    From this org
    $183,571
    From related orgs
    $0
    Other
    $10,628
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $183,000
    Bonus
    $46
    Other
    $525
    Deferred
    $10,606
    Nontaxable benefits
    $22
    Filer's total
    $194,199

  • C Klauke

    Volunteer

    Total calculated
    $3,339
    From this org
    $3,339
    From related orgs
    $0
    Other
    $0
    Hours/week
    0

  • A Saferite

    Volunteer

    Total calculated
    $2,005
    From this org
    $2,005
    From related orgs
    $0
    Other
    $0
    Hours/week
    0

  • S Stobbs

    Board Member

    Total calculated
    $1,076
    From this org
    $1,076
    From related orgs
    $0
    Other
    $0
    Hours/week
    0

  • A Dierkes

    Board Member

    Total calculated
    $895
    From this org
    $895
    From related orgs
    $0
    Other
    $0
    Hours/week
    0

  • R Kraus

    Board Member

    Total calculated
    $0
    Hours/week
    0

  • T Jacobs

    Volunteer

    Total calculated
    $0
    Hours/week
    0

  • M Chapman

    Board Member

    Total calculated
    $0
    Hours/week
    0

  • J Fugel

    Board Member

    Total calculated
    $0
    Hours/week
    0

  • B Rickmann

    Board Member

    Total calculated
    $0
    Hours/week
    0

  • J Knapper

    Board Member

    Total calculated
    $0
    Hours/week
    0

  • M Harris

    Board Member

    Total calculated
    $0
    Hours/week
    0

  • B Tuffli

    Board Member

    Total calculated
    $0
    Hours/week
    0

  • J Mize

    Volunteer

    Total calculated
    $0
    Hours/week
    0

  • K Wesselschmidt

    Volunteer

    Total calculated
    $0
    Hours/week
    0

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)

Schedule J, Part I, Line 1a
Board Member spouse travel: A Dierkes - $895; S Stobbs - $1,076; C Klauke - $3,339; A Saferite - $2,005
Schedule J, Part I, Line 4
J Bruno, Severance - $151,059; question 4b - R McKay, Supplemental Retirement Plan Payout - $814,528

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
1 October 2024
IRS schema version
2023v5.0
Source object
202422759349300827

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