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Nonprofiteer
← COLUMBIA COMMUNITY CREDIT UNION

Form 990 for tax year 2022

Filed by COLUMBIA COMMUNITY CREDIT UNION.

Totals

Total revenue
$91,416,897
Total expenses
$65,808,473
Contributions and grants received
$0
Grants paid
$296,077
Program service revenue
$81,161,328
Investment income
$10,255,569
Other revenue
$0
Total assets, end of year
$2,296,501,925
Total liabilities, end of year
$2,082,097,000
Net assets or fund balances, end of year
$214,404,925
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: INT & FEES ON LOANS

    total $60,363,076 · related or exempt $60,363,076

  • 2b · Program service revenue: ATM INCOME

    total $9,159,806 · related or exempt $9,068,204 · unrelated business $91,602

  • 2c · Program service revenue: FEES & SERVICE CHARGES

    total $7,403,091 · related or exempt $5,503,308 · unrelated business $1,899,783

  • 2d · Program service revenue: MISC OPERATING INCOME

    total $2,511,577 · related or exempt $2,444,400 · unrelated business $67,177

  • 2e · Program service revenue: GAIN ON SALE OF LOANS

    total $1,723,778 · related or exempt $1,723,778

  • 3 · Investment income

    total $10,276,301 · excluded $10,276,301

  • 7b · Less cost or other basis and sales expenses

    other assets $20,732

  • 7c · Gain or loss

    other assets -$20,732

  • 7d · Net gain or loss

    total -$20,732 · excluded -$20,732

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $296,077

  • 5 · Compensation of officers, directors and key employees

    total $4,912,163

  • 7 · Other salaries and wages

    total $20,488,613

  • 8 · Pension plan contributions

    total $513,382

  • 9 · Other employee benefits

    total $2,681,474

  • 10 · Payroll taxes

    total $1,956,070

  • 11b · Fees: legal

    total $44,789

  • 11c · Fees: accounting

    total $254,264

  • 11g · Fees: other

    total $1,415,680

  • 12 · Advertising and promotion

    total $1,578,679

  • 13 · Office expenses

    total $1,980,888

  • 14 · Information technology

    total $8,976,982

  • 16 · Occupancy

    total $2,007,289

  • 17 · Travel

    total $35,211

  • 19 · Conferences, conventions and meetings

    total $1,143,589

  • 20 · Interest

    total $5,370,862

  • 22 · Depreciation, depletion and amortization

    total $2,721,218

  • 23 · Insurance

    total $509,621

  • 24a · Other expenses: PROVISION FOR LOAN LOSS

    total $3,671,912

  • 24b · Other expenses: LOAN SERVICING

    total $2,554,546

  • 24c · Other expenses: DUES AND SUBSCRIPTIONS

    total $234,803

  • 24d · Other expenses: STATEMENT PROCESSING

    total $195,823

  • 24e · All other expenses

    total $2,264,538

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $678,917,347 · end of year $247,334,961

  • 4 · Accounts receivable

    beginning of year $212,057 · end of year $218,247

  • 7 · Other notes and loans receivable

    beginning of year $1,354,427,314 · end of year $1,705,552,357

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,571,012 · end of year $3,390,642

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

    $63,262,454

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

    $38,769,178

  • 10c · Land, buildings and equipment, net

    beginning of year $25,841,690 · end of year $24,493,276

  • 11 · Investments: publicly traded securities

    beginning of year $227,575,019 · end of year $277,327,097

  • 12 · Investments: other securities

    beginning of year $3,115,600 · end of year $3,750,030

  • 15 · Other assets

    beginning of year $32,195,591 · end of year $34,435,315

  • 17 · Accounts payable and accrued expenses

    beginning of year $14,231,592 · end of year $20,384,555

  • 21 · Escrow or custodial account liability

    beginning of year $252,877 · end of year $822,417

  • 25 · Other liabilities

    beginning of year $2,087,475,694 · end of year $2,060,890,028

  • 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 $222,895,467 · end of year $214,404,925

Mission and programs · 2022

Mission

BRINGING PEOPLE TOGETHER TO MAKE LIFE BETTER FOR THEMSELVES AND THEIR COMMUNITIES.

Activities or mission (Part I)

A STRONG MEMBER FINANCIAL COOPERATIVE PROVIDING VALUE THROUGH: MEETING MEMBERS' NEEDS WITH QUALITY SERVICES AND PRODUCTS; CARING FOR MEMBERS AT EVERY CONTACT; AND ENHANCING THE COMMUNITIES WE SERVE THROUGH VOLUNTEERISM AND LEADERSHIP.

  • COLUMBIA COMMUNITY CREDIT UNION IS A WASHINGTON STATE-CHARTERED CREDIT UNION WITH A FIELD OF MEMBERSHIP IN WASHINGTON AND OREGON AND IS REGULATED BY THE WASHINGTON STATE DEPARTMENT OF FINANCIAL INSTITUTIONS, DIVISION OF CREDIT UNIONS WITH RECIPROCAL OVERSIGHT BY THE OREGON DEPARTMENT OF CONSUMER & BUSINESS SERVICES, DIVISION OF FINANCIAL REGULATION. MEMBERS' DEPOSITS ARE INSURED BY THE NATIONAL CREDIT UNION SHARE INSURANCE FUND. THE MAIN PURPOSE OF THE CREDIT UNION IS PROMOTING THRIFT AMONG ITS MEMBERS AND CREATING A SOURCE OF CREDIT FOR THEM AT FAIR AND REASONABLE RATES OF INTEREST.

As filed on the 2022 return.

Listed in Part VII

  • Stephon D Kenny

    PRESIDENT CEO

    Total calculated
    $1,172,657
    From this org
    $786,137
    From related orgs
    $0
    Other
    $386,520
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $597,812
    Bonus
    $174,120
    Other
    $14,205
    Deferred
    $371,498
    Nontaxable benefits
    $15,022
    Filer's total
    $1,172,657

  • Mark C Michaels

    SVP CHIEF INFORMATION OFFICER

    Total calculated
    $492,274
    From this org
    $434,228
    From related orgs
    $0
    Other
    $58,046
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $268,406
    Bonus
    $49,705
    Other
    $116,117
    Deferred
    $50,535
    Nontaxable benefits
    $7,511
    Filer's total
    $492,274

  • Lindsey R Salvestrin

    SVP CHIEF OPERATIONS OFFICER

    Total calculated
    $548,692
    From this org
    $387,134
    From related orgs
    $0
    Other
    $161,558
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $324,317
    Bonus
    $55,677
    Other
    $7,140
    Deferred
    $139,025
    Nontaxable benefits
    $22,533
    Filer's total
    $548,692

  • Marc T Timm

    SVP CHIEF CREDIT AND LENDING OFFICER

    Total calculated
    $498,528
    From this org
    $392,388
    From related orgs
    $0
    Other
    $106,140
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $322,706
    Bonus
    $59,595
    Other
    $10,087
    Deferred
    $91,118
    Nontaxable benefits
    $15,022
    Filer's total
    $498,528

  • James B Wood III

    SVP CHIEF HR OFFICER

    Total calculated
    $425,885
    From this org
    $320,011
    From related orgs
    $0
    Other
    $105,874
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $266,976
    Bonus
    $49,440
    Other
    $3,595
    Deferred
    $91,041
    Nontaxable benefits
    $14,833
    Filer's total
    $425,885

  • Holly Mecalis

    INDIRECT LOAN SALES REPRESENTATIVE

    Total calculated
    $345,798
    From this org
    $313,169
    From related orgs
    $0
    Other
    $32,629
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $79,387
    Bonus
    $240,804
    Other
    -$7,022
    Deferred
    $13,527
    Nontaxable benefits
    $19,102
    Filer's total
    $345,798

  • Joseph I Storm

    VP DIRECTOR COMRCL & BUS

    Total calculated
    $345,699
    From this org
    $328,265
    From related orgs
    $0
    Other
    $17,434
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $44,393
    Bonus
    $125,401
    Other
    $158,471
    Deferred
    $17,434
    Nontaxable benefits
    $0
    Filer's total
    $345,699

  • Penny R Harris

    SVP CHIEF FINANCIAL OFFICER

    Total calculated
    $386,476
    From this org
    $285,775
    From related orgs
    $0
    Other
    $100,701
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $243,000
    Bonus
    $35,000
    Other
    $7,775
    Deferred
    $78,168
    Nontaxable benefits
    $22,533
    Filer's total
    $386,476

  • Wendy Smith

    SVP CHIEF RISK OFFICER

    Total calculated
    $390,973
    From this org
    $287,725
    From related orgs
    $0
    Other
    $103,248
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $238,381
    Bonus
    $41,458
    Other
    $7,886
    Deferred
    $88,226
    Nontaxable benefits
    $15,022
    Filer's total
    $390,973

  • Michael D Florea

    SVP CHIEF DATA OFFICER

    Total calculated
    $395,340
    From this org
    $271,105
    From related orgs
    $0
    Other
    $124,235
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $221,438
    Bonus
    $42,179
    Other
    $7,488
    Deferred
    $101,702
    Nontaxable benefits
    $22,533
    Filer's total
    $395,340

  • Colleen Boccia

    SVP CHIEF MARKETING OFFICER

    Total calculated
    $385,980
    From this org
    $269,270
    From related orgs
    $0
    Other
    $116,710
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $240,584
    Bonus
    $44,553
    Other
    -$15,867
    Deferred
    $109,199
    Nontaxable benefits
    $7,511
    Filer's total
    $385,980

  • Carlene Hoff

    INDIRECT LOAN SALES REPRESENTATIVE

    Total calculated
    $257,192
    From this org
    $228,221
    From related orgs
    $0
    Other
    $28,971
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $74,585
    Bonus
    $157,579
    Other
    -$3,943
    Deferred
    $14,054
    Nontaxable benefits
    $14,917
    Filer's total
    $257,192

  • Jeffrey W Day

    HOME LOAN OFFICER

    Total calculated
    $250,776
    From this org
    $230,816
    From related orgs
    $0
    Other
    $19,960
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $26,370
    Bonus
    $199,496
    Other
    $4,950
    Deferred
    $12,449
    Nontaxable benefits
    $7,511
    Filer's total
    $250,776

  • Jeffrey McLauchlin

    VP DEVELOPMENT SECURITY OPERATIONS

    Total calculated
    $248,840
    From this org
    $217,375
    From related orgs
    $0
    Other
    $31,465
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $214,200
    Bonus
    $14,318
    Other
    -$11,143
    Deferred
    $13,728
    Nontaxable benefits
    $17,737
    Filer's total
    $248,840

  • Kelly Love

    DIRECTOR (THRU 7/22)

    Total calculated
    $27,803
    From this org
    $27,803
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.3

  • Joseph Vance

    BOARD DIRECTOR CHAIR

    Total calculated
    $26,714
    From this org
    $26,714
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.3

  • Max Ault

    SECRETARY

    Total calculated
    $24,618
    From this org
    $24,618
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.3

  • Carol Van Natta

    DIRECTOR VICE CHAIR

    Total calculated
    $23,159
    From this org
    $23,159
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.3

  • Eric Sawyer

    DIRECTOR

    Total calculated
    $21,891
    From this org
    $21,891
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.3

  • Marci White-Stumpf

    DIRECTOR

    Total calculated
    $20,945
    From this org
    $20,945
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.3

  • Julianna Marler

    DIRECTOR

    Total calculated
    $20,593
    From this org
    $20,593
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.3

  • Tracey Malone

    DIRECTOR

    Total calculated
    $20,405
    From this org
    $20,405
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.3

  • Dena Strong

    TREASURER

    Total calculated
    $18,696
    From this org
    $18,696
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.3

  • Tim Schauer

    DIRECTOR

    Total calculated
    $10,538
    From this org
    $10,538
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.3

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 · Written employment contract
  • 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 1A
THE CEO'S EMPLOYMENT AGREEMENT ALLOWS FOR THE COST OF SPOUSE TRAVEL FOR 3 CONFERENCES A YEAR. BOARD POLICY ALLOWS FOR SPOUSE/DOMESTIC PARTNER ALLOWANCE OF $599 ANNUALLY WHILE ACCOMPANYING AN OFFICIAL ON CREDIT UNION-RELATED TRAINING. THE CEO'S ALLOWANCE IS NOT TREATED AS TAXABLE COMPENSATION, WHEREAS THE OFFICIAL'S ALLOWANCE IS TREATED AS TAXABLE COMPENSATION.
PART I, LINE 4B
STEPHON D KENNY, 457(F) PLAN - $354,397 LINDSEY R SALVESTRIN, 457(F) PLAN - $120,725 COLLEEN BOCCIA, 457(F) PLAN - $92,813 MICHAEL D FLOREA, 457(F) PLAN - $85,874 JAMES B. WOOD III, 457(F) PLAN - $76,054 MARC T TIMM, 457(F) PLAN - $74,609 WENDY SMITH, 457(F) PLAN - $71,418 PENNY R. HARRIS, 457(F) PLAN - $64,184 MARK C MICHAELS, 457(F) PLAN - $32,234

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

The 10 largest by cash amount. The API serves every itemized grant.

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • COLUMBIA COMMUNITY CORPORATION

    INACTIVE - USED TO BE WEALTH MANAGEMENT FUNCTION; COMBINED INTO CU IN 2004 · WA · income $0 · assets $5,000

    Directly controlled by COLUMBIA COMMUNITY CREDIT UNION

Provenance

Return type
form_990
Tax year
2022
Filed
9 May 2023
IRS schema version
2022v5.0
Source object
202331329349302748

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