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Nonprofiteer
← IH MISSISSIPPI VALLEY CREDIT UNION

Form 990 for tax year 2022

Filed by IH MISSISSIPPI VALLEY CREDIT UNION.

Totals

Total revenue
$111,927,596
Total expenses
$93,113,066
Contributions and grants received
$0
Grants paid
$62,500
Program service revenue
$106,364,308
Investment income
$5,567,506
Other revenue
-$4,218
Total assets, end of year
$2,035,628,610
Total liabilities, end of year
$1,871,475,711
Net assets or fund balances, end of year
$164,152,899
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 ON LOANS

    total $74,268,653 · related or exempt $74,268,653

  • 2b · Program service revenue: FEE INCOME

    total $31,488,252 · related or exempt $31,488,252

  • 2c · Program service revenue: INSURANCE COMMISSIONS

    total $677,981 · related or exempt $634,335 · unrelated business $43,646

  • 2d · Program service revenue: ATM SURCHARGE FEES

    total $222,515 · unrelated business $222,515

  • 2e · Program service revenue: WARRANTY FEES

    total $62,000 · unrelated business $62,000

  • 2f · All other program service revenue

    total -$355,093 · related or exempt -$356,893 · unrelated business $1,800

  • 3 · Investment income

    total $3,408,029 · excluded $3,408,029

  • 7a · Gross sales of assets other than inventory

    securities $141,917 · other assets $144,480,698

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

    securities $63,579 · other assets $142,399,559

  • 7c · Gain or loss

    securities $78,338 · other assets $2,081,139

  • 7d · Net gain or loss

    total $2,159,477 · related or exempt $2,159,477

  • 11a · Other revenue: K-1 INCOME - MEMBERS DEVELOPMENT

    total -$4,218 · unrelated business -$4,218

  • 11e · Other revenue, total

    -$4,218

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $32,500

  • 2 · Grants to domestic individuals

    total $30,000

  • 4 · Benefits paid to or for members

    total $11,286,758

  • 5 · Compensation of officers, directors and key employees

    total $6,784,445

  • 7 · Other salaries and wages

    total $23,130,477

  • 8 · Pension plan contributions

    total $1,620,505

  • 9 · Other employee benefits

    total $3,263,740

  • 10 · Payroll taxes

    total $2,312,313

  • 11b · Fees: legal

    total $271,465

  • 11c · Fees: accounting

    total $247,333

  • 11g · Fees: other

    total $1,376,726

  • 12 · Advertising and promotion

    total $1,559,063

  • 13 · Office expenses

    total $10,655,315

  • 16 · Occupancy

    total $2,819,114

  • 17 · Travel

    total $660,826

  • 20 · Interest

    total $3,081,298

  • 22 · Depreciation, depletion and amortization

    total $3,367,205

  • 24a · Other expenses: PROVISION FOR LOAN LOSS

    total $7,421,023

  • 24b · Other expenses: VISA CARD EXPENSES

    total $6,725,277

  • 24c · Other expenses: PROGRAM/SERVICES EXPENS

    total $3,685,789

  • 24d · Other expenses: INDIRECT LOAN SALES EXP

    total $800,388

  • 24e · All other expenses

    total $1,981,506

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $87,335,019 · end of year $112,121,654

  • 4 · Accounts receivable

    beginning of year $692,135 · end of year $922,558

  • 5 · Loans and receivables from officers and key people

    beginning of year $19,053,961 · end of year $18,337,942

  • 7 · Other notes and loans receivable

    beginning of year $1,474,922,515 · end of year $1,667,617,011

  • 9 · Prepaid expenses and deferred charges

    beginning of year $6,513,350 · end of year $5,693,364

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

    $74,666,892

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

    $20,094,382

  • 10c · Land, buildings and equipment, net

    beginning of year $53,564,390 · end of year $54,572,510

  • 11 · Investments: publicly traded securities

    beginning of year $145,887,151 · end of year $126,670,639

  • 12 · Investments: other securities

    beginning of year $21,216,233 · end of year $25,328,018

  • 14 · Intangible assets

    beginning of year $2,018,467 · end of year $1,923,867

  • 15 · Other assets

    beginning of year $21,073,976 · end of year $22,441,047

  • 17 · Accounts payable and accrued expenses

    beginning of year $17,129,754 · end of year $22,602,310

  • 23 · Secured mortgages and notes payable

    beginning of year $48,551,833 · end of year $167,451,150

  • 25 · Other liabilities

    beginning of year $1,606,140,822 · end of year $1,681,422,251

  • 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 $160,454,788 · end of year $164,152,899

Mission and programs · 2022

Mission

PROVIDE CONSUMER, MORTGAGE, AND BUSINESS LOANS AND DEPOSIT SERVICES TO OVER 143,609 MEMBERS.

  • PROVIDE CONSIDERABLE CONSUMER, BUSINESS AND REAL ESTATE LOANS TO MEMBERS.

  • PROVIDE DEPOSITORY ACCOUNTS TO APPROXIMATELY 143,609 MEMBERS.

As filed on the 2022 return.

Listed in Part VII

  • SAM KUPRESIN

    BOARD CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • THOMAS TERRONEZ

    BOARD SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    2

  • JEFF CARR

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • MATT MENDANHALL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • THOMAS CHIP IRWIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • MEGAN EARLY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • LARRY WIEMERS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • TIM CONSIDINE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • KRISTIN BERRY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • MELISSA PEPPER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • MATT JEFFERSON

    CHIEF DIGITAL OFFICER (PART-YEAR)

    Total calculated
    $380,073
    From this org
    $357,051
    From related orgs
    $0
    Other
    $23,022
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $174,855
    Bonus
    $82,196
    Other
    $100,000
    Deferred
    $12,240
    Nontaxable benefits
    $10,782
    Filer's total
    $380,073

  • ALLAN HOSACK

    CHIEF FINANCIAL OFFICER

    Total calculated
    $445,626
    From this org
    $406,307
    From related orgs
    $0
    Other
    $39,319
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $314,058
    Bonus
    $92,249
    Other
    $0
    Deferred
    $21,350
    Nontaxable benefits
    $17,969
    Filer's total
    $445,626

  • ANN MCMILLIAN

    CHIEF OPERATING OFFICER

    Total calculated
    $449,821
    From this org
    $410,502
    From related orgs
    $0
    Other
    $39,319
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $314,509
    Bonus
    $95,993
    Other
    $0
    Deferred
    $21,350
    Nontaxable benefits
    $17,969
    Filer's total
    $449,821

  • JULIE STICKNEY

    CHIEF RESOURCE OFFICER

    Total calculated
    $262,143
    From this org
    $231,256
    From related orgs
    $0
    Other
    $30,887
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $192,627
    Bonus
    $38,629
    Other
    $0
    Deferred
    $13,484
    Nontaxable benefits
    $17,403
    Filer's total
    $262,143

  • LISA OLSON

    CHIEF RISK MANAGEMENT OFFICER

    Total calculated
    $442,754
    From this org
    $403,435
    From related orgs
    $0
    Other
    $39,319
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $314,030
    Bonus
    $89,405
    Other
    $0
    Deferred
    $21,350
    Nontaxable benefits
    $17,969
    Filer's total
    $442,754

  • BRIAN LAUFENBERG

    PRESIDENT / CEO

    Total calculated
    $734,693
    From this org
    $695,448
    From related orgs
    $0
    Other
    $39,245
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $526,515
    Bonus
    $168,933
    Other
    $0
    Deferred
    $21,350
    Nontaxable benefits
    $17,895
    Filer's total
    $734,693

  • LINDSEY RAMOS

    SV,P MEMBER EXPERIENCE

    Total calculated
    $257,511
    From this org
    $228,282
    From related orgs
    $0
    Other
    $29,229
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $194,934
    Bonus
    $33,348
    Other
    $0
    Deferred
    $11,658
    Nontaxable benefits
    $17,571
    Filer's total
    $257,511

  • ANDREW GROTHE

    SVP WEALTH MGMT AND INVESTMENT SERVICES

    Total calculated
    $253,331
    From this org
    $222,500
    From related orgs
    $0
    Other
    $30,831
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $186,895
    Bonus
    $35,605
    Other
    $0
    Deferred
    $13,083
    Nontaxable benefits
    $17,748
    Filer's total
    $253,331

  • DANIELLE SONS

    SVP, FINANCE

    Total calculated
    $238,586
    From this org
    $208,129
    From related orgs
    $0
    Other
    $30,457
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $182,308
    Bonus
    $25,821
    Other
    $0
    Deferred
    $12,762
    Nontaxable benefits
    $17,695
    Filer's total
    $238,586

  • AJAY SINGH

    SVP, LENDING

    Total calculated
    $255,341
    From this org
    $229,312
    From related orgs
    $0
    Other
    $26,029
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $229,231
    Bonus
    $81
    Other
    $0
    Deferred
    $8,171
    Nontaxable benefits
    $17,858
    Filer's total
    $255,341

  • BENJAMIN ABBOTT

    SVP, PAYMENTS, TECHNOLOGY AND LENDING OPERATION

    Total calculated
    $224,225
    From this org
    $194,531
    From related orgs
    $0
    Other
    $29,694
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $172,385
    Bonus
    $22,146
    Other
    $0
    Deferred
    $12,067
    Nontaxable benefits
    $17,627
    Filer's total
    $224,225

  • CURT JOURDAN

    SVP, TECHNOLOGY AND DATA STRATEGY

    Total calculated
    $214,314
    From this org
    $189,960
    From related orgs
    $0
    Other
    $24,354
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $166,764
    Bonus
    $23,196
    Other
    $0
    Deferred
    $11,673
    Nontaxable benefits
    $12,681
    Filer's total
    $214,314

  • MAYRA DE CATALAN

    VP ANALYTICS (PART-YEAR)

    Total calculated
    $190,802
    From this org
    $182,042
    From related orgs
    $0
    Other
    $8,760
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $145,154
    Bonus
    $36,888
    Other
    $0
    Deferred
    $7,160
    Nontaxable benefits
    $1,600
    Filer's total
    $190,802

  • CHAD ERVIN

    VP COMMERCIAL LENDING DEPT

    Total calculated
    $227,476
    From this org
    $199,505
    From related orgs
    $0
    Other
    $27,971
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $162,878
    Bonus
    $36,627
    Other
    $0
    Deferred
    $10,148
    Nontaxable benefits
    $17,823
    Filer's total
    $227,476

  • JAMES LEGARE

    VP COMMERICAL & MORTGAGE CREDIT (PART-YEAR)

    Total calculated
    $247,247
    From this org
    $235,660
    From related orgs
    $0
    Other
    $11,587
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $142,400
    Bonus
    $34,060
    Other
    $59,200
    Deferred
    $9,968
    Nontaxable benefits
    $1,619
    Filer's total
    $247,247

  • ROBERT ROSEMAN

    VP INDIRECT BUSINESS DEVELOPMENT

    Total calculated
    $398,371
    From this org
    $370,363
    From related orgs
    $0
    Other
    $28,008
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $147,232
    Bonus
    $223,131
    Other
    $0
    Deferred
    $10,306
    Nontaxable benefits
    $17,702
    Filer's total
    $398,371

  • RICH DUSSLIERE

    VP INFORMATION SECURITY

    Total calculated
    $220,597
    From this org
    $191,390
    From related orgs
    $0
    Other
    $29,207
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $166,277
    Bonus
    $25,113
    Other
    $0
    Deferred
    $11,639
    Nontaxable benefits
    $17,568
    Filer's total
    $220,597

  • KEVIN DUNCALF

    VP OF BUSINESS DEVELOPMENT

    Total calculated
    $217,389
    From this org
    $203,554
    From related orgs
    $0
    Other
    $13,835
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $175,145
    Bonus
    $28,409
    Other
    $0
    Deferred
    $12,260
    Nontaxable benefits
    $1,575
    Filer's total
    $217,389

  • LAURA BURKHOLDER

    VP OF CREDIT RISK (PART-YEAR)

    Total calculated
    $154,867
    From this org
    $154,867
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $112,623
    Bonus
    $19,994
    Other
    $22,250
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $154,867

  • CURTIS JOHNSTON

    VP OF MORTGAGE

    Total calculated
    $195,929
    From this org
    $168,305
    From related orgs
    $0
    Other
    $27,624
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $142,395
    Bonus
    $25,910
    Other
    $0
    Deferred
    $9,968
    Nontaxable benefits
    $17,656
    Filer's total
    $195,929

  • RON GAUVIN

    VP OF STRATEGIC INITIATIVES

    Total calculated
    $208,233
    From this org
    $188,758
    From related orgs
    $0
    Other
    $19,475
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $163,979
    Bonus
    $24,779
    Other
    $0
    Deferred
    $11,479
    Nontaxable benefits
    $7,996
    Filer's total
    $208,233

  • AMY BYTNAR

    VP PMO

    Total calculated
    $202,696
    From this org
    $189,567
    From related orgs
    $0
    Other
    $13,129
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $165,378
    Bonus
    $24,189
    Other
    $0
    Deferred
    $11,576
    Nontaxable benefits
    $1,553
    Filer's total
    $202,696

  • KRISTEN DOONAN

    VP RISK MANAGEMENT

    Total calculated
    $167,596
    From this org
    $156,687
    From related orgs
    $0
    Other
    $10,909
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $136,866
    Bonus
    $19,821
    Other
    $0
    Deferred
    $9,580
    Nontaxable benefits
    $1,329
    Filer's total
    $167,596

  • DARLENE REED

    VP TREASURER

    Total calculated
    $194,824
    From this org
    $162,935
    From related orgs
    $0
    Other
    $31,889
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $141,770
    Bonus
    $21,165
    Other
    $0
    Deferred
    $9,924
    Nontaxable benefits
    $21,965
    Filer's total
    $194,824

  • ROBERT BLAZEJEWSKI

    FINANCIAL CONSULTANT

    Total calculated
    $272,932
    From this org
    $242,010
    From related orgs
    $0
    Other
    $30,922
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $60,008
    Bonus
    $182,002
    Other
    $0
    Deferred
    $15,651
    Nontaxable benefits
    $15,271
    Filer's total
    $272,932

  • STEPHEN TRACY

    MANAGER, APPLICATION DEVELOPMENT (TERMED 01/03/202

    Total calculated
    $177,512
    From this org
    $160,918
    From related orgs
    $0
    Other
    $16,594
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $137,897
    Bonus
    $23,021
    Other
    $0
    Deferred
    $9,653
    Nontaxable benefits
    $6,941
    Filer's total
    $177,512

  • CHAD MANSFIELD

    MORTGAGE LOAN ORIGINATOR

    Total calculated
    $218,096
    From this org
    $188,690
    From related orgs
    $0
    Other
    $29,406
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $30,000
    Bonus
    $158,690
    Other
    $0
    Deferred
    $13,108
    Nontaxable benefits
    $16,298
    Filer's total
    $218,096

  • JAMES GARMAN

    MORTGAGE LOAN ORIGINATOR (PART-YEAR)

    Total calculated
    $391,504
    From this org
    $358,948
    From related orgs
    $0
    Other
    $32,556
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $37,592
    Bonus
    $321,356
    Other
    $0
    Deferred
    $16,599
    Nontaxable benefits
    $15,957
    Filer's total
    $391,504

  • JUSTIN JOHNSON

    VP COMMERCIAL LENDER

    Total calculated
    $197,604
    From this org
    $170,900
    From related orgs
    $0
    Other
    $26,704
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $136,327
    Bonus
    $34,573
    Other
    $0
    Deferred
    $9,543
    Nontaxable benefits
    $17,161
    Filer's total
    $197,604

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

  • 1a · Travel for companions
  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 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)

PART I, LINES 4A-B
457(F) DEFERRED COMPENSATION PLAN

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

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.

Provenance

Return type
form_990
Tax year
2022
Filed
25 October 2023
IRS schema version
2022v5.0
Source object
202343179349309779

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