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Nonprofiteer
← FREEDOM NORTHWEST CREDIT UNION FNWCU

Form 990 for tax year 2022

Filed by FREEDOM NORTHWEST CREDIT UNION FNWCU.

Totals

Total revenue
$27,109,211
Total expenses
$13,887,402
Contributions and grants received
$296,782
Grants paid
$160,160
Program service revenue
$25,211,889
Investment income
$1,551,169
Other revenue
$49,371
Total assets, end of year
$497,919,829
Total liabilities, end of year
$454,261,172
Net assets or fund balances, end of year
$43,658,657
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.

  • 1e · Government grants (contributions)

    $296,782

  • 2a · Program service revenue: LOANS TO MEMBERS

    total $21,867,445 · related or exempt $21,867,445

  • 2b · Program service revenue: SERVICES TO MEMBERS

    total $2,959,588 · related or exempt $2,959,588

  • 2c · Program service revenue: DEBIT/CREDIT INTERCHANGE INCOME

    total $289,433 · related or exempt $289,433

  • 2d · Program service revenue: CASD INCOME

    total $95,423 · related or exempt $95,423

  • 3 · Investment income

    total $1,898,728 · excluded $1,898,728

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

    other assets $347,559

  • 7c · Gain or loss

    other assets -$347,559

  • 7d · Net gain or loss

    total -$347,559 · related or exempt -$347,559

  • 11a · Other revenue: OTHER OPERATING INCOME

    total $49,371 · related or exempt $49,371

  • 11e · Other revenue, total

    $49,371

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $130,160

  • 2 · Grants to domestic individuals

    total $30,000

  • 5 · Compensation of officers, directors and key employees

    total $507,120

  • 7 · Other salaries and wages

    total $2,930,979

  • 9 · Other employee benefits

    total $660,945

  • 10 · Payroll taxes

    total $257,675

  • 11b · Fees: legal

    total $257,043

  • 11c · Fees: accounting

    total $65,330

  • 11g · Fees: other

    total $265,809

  • 12 · Advertising and promotion

    total $179,568

  • 13 · Office expenses

    total $728,199

  • 14 · Information technology

    total $141,662

  • 16 · Occupancy

    total $128,388

  • 19 · Conferences, conventions and meetings

    total $1,479

  • 20 · Interest

    total $978,794

  • 22 · Depreciation, depletion and amortization

    total $388,334

  • 23 · Insurance

    total $133,336

  • 24a · Other expenses: DIVIDENDS AND INTEREST

    total $4,618,100

  • 24b · Other expenses: CREDIT/DEBIT CARD EXPEN

    total $906,165

  • 24c · Other expenses: COLLECTION EXPENSE

    total $109,081

  • 24d · Other expenses: LOAN SERVICING EXPENSE

    total $90,318

  • 24e · All other expenses

    total $378,917

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,534,619 · end of year $27,019,384

  • 2 · Savings and temporary cash investments

    beginning of year $36,691,761 · end of year $56,870,117

  • 5 · Loans and receivables from officers and key people

    beginning of year $1,871,447 · end of year $10,318,560

  • 7 · Other notes and loans receivable

    beginning of year $339,081,203 · end of year $389,420,373

  • 9 · Prepaid expenses and deferred charges

    beginning of year $624,351 · end of year $654,287

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

    $11,762,141

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

    $3,079,493

  • 10c · Land, buildings and equipment, net

    beginning of year $9,243,041 · end of year $8,682,648

  • 13 · Investments: program-related

    beginning of year $32,282,413

  • 15 · Other assets

    beginning of year $3,814,685 · end of year $4,954,460

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,436,354 · end of year $7,216,842

  • 19 · Deferred revenue

    beginning of year $2,654,840

  • 24 · Unsecured notes and loans payable

    beginning of year $39,500,000 · end of year $25,500,000

  • 25 · Other liabilities

    beginning of year $347,992,712 · end of year $421,544,330

  • 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 $32,559,614 · end of year $43,658,657

Mission and programs · 2022

Mission

PROMOTING THE FINANCIAL WELL-BEING OF MEMBERS BY PROVIDING LOAN AND SAVINGS SERVICES AT COMPETITIVE RATES.

Activities or mission (Part I)

STATE CHARTERED CREDIT UNION

  • SAVINGS, LOANS, AND INVESTMENTS

  • N/A

  • N/A

As filed on the 2022 return.

Listed in Part VII

  • Tina Ulmer

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Betty Cloniger

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Carmon Henry

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Rodney Krogh

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Adam McMurtrie

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Kevin Steere

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Dan Trankle

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Gregory S Garrett

    CEO

    Total calculated
    $397,368
    From this org
    $365,120
    From related orgs
    $0
    Other
    $32,248
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $253,990
    Bonus
    $89,951
    Other
    $21,179
    Deferred
    $20,500
    Nontaxable benefits
    $11,748
    Filer's total
    $397,368

  • Don C Belisle

    CFO

    Total calculated
    $130,416
    From this org
    $122,042
    From related orgs
    $0
    Other
    $8,374
    Hours/week
    40

  • James Davy

    CIO

    Total calculated
    $159,692
    From this org
    $142,000
    From related orgs
    $0
    Other
    $17,692
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $115,463
    Bonus
    $12,000
    Other
    $14,537
    Deferred
    $8,520
    Nontaxable benefits
    $9,172
    Filer's total
    $159,692

  • Cindy Childres

    COO

    Total calculated
    $121,268
    From this org
    $105,751
    From related orgs
    $0
    Other
    $15,517
    Hours/week
    40

  • Chad N Smith

    CLO

    Total calculated
    $141,551
    From this org
    $130,375
    From related orgs
    $0
    Other
    $11,176
    Hours/week
    40

  • Daniel McFetridge

    LOAN OFFICER

    Total calculated
    $228,604
    From this org
    $207,011
    From related orgs
    $0
    Other
    $21,593
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $88,769
    Bonus
    $107,010
    Other
    $11,232
    Deferred
    $12,421
    Nontaxable benefits
    $9,172
    Filer's total
    $228,604

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 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

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

  • CVHS SAFE AND SOBER

    $21,250

    DONATION MADE TO THE SAFE & SOBE EVENT.

  • LEWIS COUNTY FAIR BARN

    $10,000

    SUPPORT LOCAL FAIR EVENT

  • KAMIAH HIGH SCHOOL

    $6,000

    SUPPORT LOCAL SCHOOL

Provenance

Return type
form_990
Tax year
2022
Filed
12 December 2023
IRS schema version
2022v5.0
Source object
202323469349300982

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