Skip to content
Nonprofiteer
← CREDIT UNIONS IN THE STATE OF CALIFORNIA

Form 990 for tax year 2022

Filed by CREDIT UNIONS IN THE STATE OF CALIFORNIA.

Totals

Total revenue
$32,546,340
Total expenses
$28,915,227
Contributions and grants received
$0
Grants paid
$204,375
Program service revenue
$30,171,584
Investment income
$2,292,589
Other revenue
$82,167
Total assets, end of year
$720,500,856
Total liabilities, end of year
$679,002,606
Net assets or fund balances, end of year
$41,498,250
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 $19,683,140 · related or exempt $19,683,140

  • 2b · Program service revenue: OTHER OPERATING INCOME

    total $7,457,428 · related or exempt $7,369,499 · unrelated business $87,929

  • 2c · Program service revenue: FEE INCOME

    total $3,031,016 · related or exempt $3,003,280 · unrelated business $27,736

  • 3 · Investment income

    total $2,292,589 · related or exempt $2,292,589

  • 11a · Other revenue: OTHER NON-OPERATING INCOME

    total $82,167 · related or exempt $82,167

  • 11e · Other revenue, total

    $82,167

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $204,375

  • 5 · Compensation of officers, directors and key employees

    total $1,772,556

  • 7 · Other salaries and wages

    total $7,957,089

  • 8 · Pension plan contributions

    total $351,718

  • 9 · Other employee benefits

    total $848,643

  • 10 · Payroll taxes

    total $348,107

  • 11b · Fees: legal

    total $118,247

  • 11c · Fees: accounting

    total $187,816

  • 11g · Fees: other

    total $917,011

  • 12 · Advertising and promotion

    total $1,252,143

  • 13 · Office expenses

    total $2,843,321

  • 14 · Information technology

    total $2,345,793

  • 16 · Occupancy

    total $1,052,553

  • 17 · Travel

    total $161,857

  • 20 · Interest

    total $2,689,286

  • 22 · Depreciation, depletion and amortization

    total $1,411,569

  • 23 · Insurance

    total $65,741

  • 24a · Other expenses: PROV FOR LOAN LOSSES

    total $2,196,567

  • 24b · Other expenses: LOAN SERVICING

    total $1,326,837

  • 24c · Other expenses: UNREALIZED LOSS ON INVE

    total $632,369

  • 24d · Other expenses: MISC. OPERATING EXPENSE

    total $147,833

  • 24e · All other expenses

    total $83,796

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,785,818 · end of year $5,171,028

  • 2 · Savings and temporary cash investments

    beginning of year $59,423,624 · end of year $11,589,930

  • 5 · Loans and receivables from officers and key people

    beginning of year $1,117,506 · end of year $898,379

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,100,194 · end of year $3,782,903

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

    $30,891,955

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

    $11,323,147

  • 10c · Land, buildings and equipment, net

    beginning of year $18,852,143 · end of year $19,568,808

  • 11 · Investments: publicly traded securities

    beginning of year $146,813,103 · end of year $124,464,413

  • 13 · Investments: program-related

    beginning of year $419,976,929 · end of year $539,799,805

  • 14 · Intangible assets

    beginning of year $4,636 · end of year $4,635

  • 15 · Other assets

    beginning of year $11,041,547 · end of year $15,220,955

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,487,999 · end of year $4,155,721

  • 25 · Other liabilities

    beginning of year $612,839,092 · end of year $674,846,885

  • 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 $50,788,409 · end of year $41,498,250

Mission and programs · 2022

Mission

EXCITE CREDIT UNION IS A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS, CREATING A SOURCE OF CREDIT FOR THEM AT RATES OF INTEREST SET BY THE BOARD OF DIRECTORS, AND PROVIDING AN OPPORTUNITY FOR THEM TO USE AND CONTROL THEIR OWN MONEY ON A DEMOCRATIC BASIS IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS. AS A COOPERATIVE, EXCITE CREDIT UNION CONDUCTS ITS BUSINESS FOR THE MUTUAL BENEFIT AND GENERAL WELFARE OF ITS MEMBERS WITH THE EARNINGS, SAVINGS, BENEFITS, OR SERVICES OF THE CREDIT UNION BEING DISTRIBUTED TO ITS MEMBERS AS PATRONS.

Activities or mission (Part I)

A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS.

  • ACHIEVEMENT OF SATISFACTORY SERVICES PROVIDED TO MEMBERS IN CONNECTION WITH CONSUMER LOANS, I.E., AUTO LOANS, VISA AND PERSONAL LINES OF CREDIT.

  • ACCOMPLISHMENT OF TARGET GOALS IN CONNECTION WITH PROVISION OF MORTGAGE LOAN PRODUCTS TO EXISTING MEMBERS.

  • MEMBER SATISFACTION IN CONNECTION WITH SERVICES PERTAINING TO CHECKING/SAVINGS ACCOUNTS, ATTRACTIVE CD RATES, IRA AND SIMILAR ACCOUNTS.

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • DONNA RHODY

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    1

  • SURYA TURAGA

    VICE CHAIRPERSON

    Total calculated
    $0
    Hours/week
    1

  • RALPH FINELLI

    BOARD SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • ALAN HANSEN

    BOARD TREASURER

    Total calculated
    $0
    Hours/week
    1

  • BARBARA ALUMBAUGH

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • CHRISTOPHER EKREN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • MARK HANSON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • ALAN RABY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • MIKE KIERNAN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • DEVIN MCALPINE

    SUPV CMTE CHAIRPERSON

    Total calculated
    $0
    Hours/week
    1

  • LAURA GOLDING

    SUPV CMTE MEMBER

    Total calculated
    $0
    Hours/week
    1

  • BANSAL DEEPJA

    SUPV CMTE MEMBER

    Total calculated
    $0
    Hours/week
    1

  • MIKE UHRI

    SUPV CMTE MEMBER

    Total calculated
    $0
    Hours/week
    1

  • KIM CAMPBELL

    SUPV CMTE MEMBER

    Total calculated
    $0
    Hours/week
    1

  • BRIAN DORCY

    CEO

    Total calculated
    $438,531
    From this org
    $397,155
    From related orgs
    $0
    Other
    $41,376
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $393,591
    Bonus
    $0
    Other
    $3,564
    Deferred
    $17,406
    Nontaxable benefits
    $23,970
    Filer's total
    $438,531

  • DEBORAH SUNDERMAN

    EXECUTIVE VP

    Total calculated
    $328,850
    From this org
    $281,755
    From related orgs
    $0
    Other
    $47,095
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $265,041
    Bonus
    $16,174
    Other
    $540
    Deferred
    $13,651
    Nontaxable benefits
    $33,444
    Filer's total
    $328,850

  • MONAKA JACKSON

    SR. MORTGAGE LOAN ORIGINATOR

    Total calculated
    $308,167
    From this org
    $291,656
    From related orgs
    $0
    Other
    $16,511
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $85,353
    Bonus
    $206,204
    Other
    $99
    Deferred
    $5,388
    Nontaxable benefits
    $11,123
    Filer's total
    $308,167

  • KEVIN ALSUP

    SVP, TECHNOLOGY SOLUTIONS

    Total calculated
    $245,362
    From this org
    $224,612
    From related orgs
    $0
    Other
    $20,750
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $210,690
    Bonus
    $12,851
    Other
    $1,071
    Deferred
    $8,693
    Nontaxable benefits
    $12,057
    Filer's total
    $245,362

  • JACKIE HOWARD

    VP, LENDING

    Total calculated
    $242,028
    From this org
    $209,203
    From related orgs
    $0
    Other
    $32,825
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $195,956
    Bonus
    $12,204
    Other
    $1,043
    Deferred
    $8,800
    Nontaxable benefits
    $24,025
    Filer's total
    $242,028

  • RICHARD WALTER

    SVP, RETAIL EXPERIENCE

    Total calculated
    $209,392
    From this org
    $198,102
    From related orgs
    $0
    Other
    $11,290
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $181,567
    Bonus
    $16,174
    Other
    $361
    Deferred
    $9,300
    Nontaxable benefits
    $1,990
    Filer's total
    $209,392

  • HECTOR ESPINOZA

    VP, RISK MANAGEMENT

    Total calculated
    $185,112
    From this org
    $170,075
    From related orgs
    $0
    Other
    $15,037
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $160,194
    Bonus
    $9,535
    Other
    $346
    Deferred
    $3,443
    Nontaxable benefits
    $11,594
    Filer's total
    $185,112

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 · 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 4B
THE CREDIT UNION HAS AN ELIGIBLE, NONQUALIFIED DEFERRED COMPENSATION PLAN FOR CERTAIN EXECUTIVES UNDER IRC SECTION 457(B).

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

  • EXCITE FOUNDATION

    $48,000

    TO RAISE FUNDS THAT SUPPORT CHARITABLE ORGANIZATIONS THAT BENEFIT COMMUNITIES SERVED BY EXCITE CREDIT UNION

  • CHRISTMAS IN THE PARK

    $20,000

    TO EXPAND, DEVELOP, PROMOTE AND ENCOURAGE COMMUNITY PARTICIPATION IN THE CHRISTMAS IN THE PARK DISPLAYS IN SAN JOSE.

  • BILL WILSON CENTER

    $20,000

    TO SUPPORT THE COMMUNIY BY SERVING YOUTH AND FAMILIES THROUGH COUNSELING, HOUSING, EDUCATION, AND ADVOCACY

  • LATINO BUSINESS FOUNDATION SILICON VALLEY

    $10,000

    TO BECOME SILICON VALLEY'S ""GO TO PLACE"" FOR SMALL AND MICRO BUSINESS' NEEDS AND RESOURCES. AND TO BUILD THE TOOLS NECESSARY FOR MINORITY ENTREPRENEURS ESPECIALLY THOSE IN LOW INCOME NEIGHBORHOODS TO PROSPER AND GROW, CREATING A THRIVING COMMUNITY.

  • PIVOTAL CONNECTIONS

    $10,000

    TO HELP YOUNG PEOPLE IN AND FROM FOSTER CARE REALIZE THEIR EDUCATIONAL AND CAREER GOALS BY ENSURING EQUITABLE ACCESS TO OPPORTUNITY.

  • SUNDAY FRIENDS FOUNDATION

    $7,500

    TO BREAK THE GENERATIONAL CYCLE OF POVERTY BY FOSTERING POSITIVE DEVELOPMENT IN CHILDREN WHILE EDUCATING AND GUIDING PARENTS TO SUPPORT THEIR CHILDREN'S LIFE SUCCESS.

  • EAST SIDE UNION HIGH SCHOOL DISTRICT

    $5,975

    TO EDUCATE STUDENTS AND PREPARE THEM FOR THE FUTURE IN A SAFE AND ENGAGING ENVIRONMENT.

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.

  • EXCITE FOUNDATION

    501(C)(3) · CHARITABLE ORGANIZATION · CA

    Directly controlled by EXCITE CREDIT UNION(FKA ALLIANCE CREDIT UNION)

Provenance

Return type
form_990
Tax year
2022
Filed
2 November 2023
IRS schema version
2022v5.0
Source object
202313129349302866

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.