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Nonprofiteer
← VANTAGE WEST CREDIT UNION

Form 990 for tax year 2022

Filed by VANTAGE WEST CREDIT UNION.

Totals

Total revenue
$128,137,248
Total expenses
$105,911,072
Contributions and grants received
$2,315,965
Grants paid
$68,989
Program service revenue
$110,293,335
Investment income
$13,027,745
Other revenue
$2,500,203
Total assets, end of year
$2,676,136,267
Total liabilities, end of year
$2,447,057,605
Net assets or fund balances, end of year
$229,078,662
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)

    $2,315,965

  • 2a · Program service revenue: INTEREST ON MEMBER LOA

    total $80,273,887 · related or exempt $80,273,887

  • 2b · Program service revenue: FEES AND CHARGES

    total $29,604,372 · related or exempt $29,604,372

  • 2c · Program service revenue: FINANCE AND INSURANCE

    total $415,076 · unrelated business $415,076

  • 3 · Investment income

    total $11,881,489 · related or exempt $11,881,489

  • 7a · Gross sales of assets other than inventory

    other assets $8,276,266

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

    other assets $7,130,010

  • 7c · Gain or loss

    other assets $1,146,256

  • 7d · Net gain or loss

    total $1,146,256 · related or exempt $1,146,256

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $2,500,203 · related or exempt $2,500,203

  • 11e · Other revenue, total

    $2,500,203

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $56,489

  • 2 · Grants to domestic individuals

    total $12,500

  • 5 · Compensation of officers, directors and key employees

    total $3,251,206

  • 7 · Other salaries and wages

    total $38,948,793

  • 8 · Pension plan contributions

    total $2,284,669

  • 9 · Other employee benefits

    total $3,960,570

  • 10 · Payroll taxes

    total $2,770,859

  • 11b · Fees: legal

    total $72,034

  • 11c · Fees: accounting

    total $215,050

  • 11g · Fees: other

    total $928,457

  • 12 · Advertising and promotion

    total $3,287,624

  • 13 · Office expenses

    total $2,678,094

  • 14 · Information technology

    total $15,304,004

  • 16 · Occupancy

    total $2,139,277

  • 17 · Travel

    total $188,417

  • 19 · Conferences, conventions and meetings

    total $1,103,864

  • 20 · Interest

    total $7,299,109

  • 21 · Payments to affiliates

    total $263,340

  • 22 · Depreciation, depletion and amortization

    total $2,192,918

  • 23 · Insurance

    total $340,804

  • 24a · Other expenses: DEBIT CARD

    total $5,672,762

  • 24b · Other expenses: LOAN SERVICING

    total $4,715,791

  • 24c · Other expenses: PROVISION FOR LOAN LOSS

    total $3,032,298

  • 24d · Other expenses: REPAIRS AND MAINTENANCE

    total $2,228,950

  • 24e · All other expenses

    total $2,963,193

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $17,734,480 · end of year $18,052,137

  • 2 · Savings and temporary cash investments

    beginning of year $216,615,569 · end of year $114,946,674

  • 4 · Accounts receivable

    beginning of year $597,337 · end of year $2,504,830

  • 7 · Other notes and loans receivable

    beginning of year $1,505,710,921 · end of year $1,853,637,336

  • 9 · Prepaid expenses and deferred charges

    beginning of year $7,003,551 · end of year $6,551,158

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

    $75,951,156

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

    $38,693,773

  • 10c · Land, buildings and equipment, net

    beginning of year $35,476,829 · end of year $37,257,383

  • 11 · Investments: publicly traded securities

    beginning of year $678,528,586 · end of year $560,226,806

  • 12 · Investments: other securities

    beginning of year $9,410,984 · end of year $11,453,055

  • 14 · Intangible assets

    beginning of year $715,972 · end of year $477,315

  • 15 · Other assets

    beginning of year $64,716,899 · end of year $71,029,573

  • 17 · Accounts payable and accrued expenses

    beginning of year $33,742,387 · end of year $38,013,077

  • 19 · Deferred revenue

    beginning of year $2,654,094 · end of year $3,385,031

  • 23 · Secured mortgages and notes payable

    end of year $85,000,000

  • 25 · Other liabilities

    beginning of year $2,225,270,460 · end of year $2,320,659,497

  • 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 $274,844,187 · end of year $229,078,662

Mission and programs · 2022

Mission

WORKING TOGETHER TO MEET OUR MEMBERS' FINANCIAL NEEDS. VANTAGE WEST IS A FULL-SERVICE FINANCIAL INSTITUTION. WE OFFER A WIDE ARRAY OF PERSONAL AND BUSINESS ACCOUNTS RANGING FROM SAVINGS AND CHECKING ACCOUNTS TO LOANS, MORTGAGES, MERCHANT SERVICES, CONSUMER CREDIT CARDS, AND MUCH MORE.

  • INCOME FROM THE CREDIT UNION MEMBERSHIP AND FROM THE INVESTMENT OF MEMBERS' FUNDS PROVIDE THE FOUNDATION FROM WHICH THE ORGANIZATION CAN FUNCTION AND PROVIDE SERVICES TO ITS RESTRICTED MEMBERSHIP.

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

Listed in Part VII

  • LOGAN ROBERT

    BOARD MEMBER

    Total calculated
    $26,604
    From this org
    $26,604
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • ZIMMERMAN DOUGLAS

    BOARD CHAIRPERSON

    Total calculated
    $31,324
    From this org
    $31,324
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • SCHAU HOPE

    BOARD TREASURER

    Total calculated
    $26,927
    From this org
    $26,927
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • RINCON JOSE

    BOARD SECRETARY

    Total calculated
    $26,859
    From this org
    $26,859
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • RILEY KARA

    BOARD MEMBER

    Total calculated
    $26,604
    From this org
    $26,604
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • LUCERO MANUEL

    BOARD VICE CHAIRPERSON

    Total calculated
    $26,740
    From this org
    $26,740
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • MEZA MARICELA

    BOARD MEMBER

    Total calculated
    $26,604
    From this org
    $26,604
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • PEARY STEPHEN

    BOARD MEMBER

    Total calculated
    $26,927
    From this org
    $26,927
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • GUERRERO NAOMI

    BOARD MEMBER

    Total calculated
    $18,750
    From this org
    $18,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • BROTHERTON JANICE

    SUPERVISORY COMMITTEE MEMBER

    Total calculated
    $3,541
    From this org
    $3,541
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • ORTEGA KATHLEEN

    SUPERVISORY COMMITTEE CHAIRPERSON

    Total calculated
    $15,697
    From this org
    $15,697
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • ZATARSKI JOHN

    SUPERVISORY COMMITTEE MEMBER

    Total calculated
    $6,503
    From this org
    $6,503
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • GINSBERG MATTHEW

    SUPERVISORY COMMITTEE MEMBER

    Total calculated
    $6,490
    From this org
    $6,490
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • SPINK-COHEN STACEY

    SUPERVISORY COMMITTEE MEMBER

    Total calculated
    $9,375
    From this org
    $9,375
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • LIZARDI OSCAR

    BOARD MEMBER

    Total calculated
    $5,418
    From this org
    $5,418
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • SAGEHORN-ELLIOTT SANDRA

    PRESIDENT/CEO

    Total calculated
    $2,386,482
    From this org
    $1,108,038
    From related orgs
    $0
    Other
    $1,278,444
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $805,743
    Bonus
    $281,388
    Other
    $20,907
    Deferred
    $1,250,712
    Nontaxable benefits
    $27,732
    Filer's total
    $2,386,482

  • ODOM SCOTT

    EVP/CFO

    Total calculated
    $580,361
    From this org
    $404,809
    From related orgs
    $0
    Other
    $175,552
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $327,306
    Bonus
    $75,388
    Other
    $2,115
    Deferred
    $150,081
    Nontaxable benefits
    $25,471
    Filer's total
    $580,361

  • HOYLE ROBERT

    CHIEF INFORMATION OFFICER

    Total calculated
    $657,297
    From this org
    $378,243
    From related orgs
    $0
    Other
    $279,054
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $335,763
    Bonus
    $33,550
    Other
    $8,930
    Deferred
    $251,822
    Nontaxable benefits
    $27,232
    Filer's total
    $657,297

  • PINARD JEREMY

    CHIEF LENDING OFFICER

    Total calculated
    $584,939
    From this org
    $368,133
    From related orgs
    $0
    Other
    $216,806
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $319,974
    Bonus
    $47,574
    Other
    $585
    Deferred
    $190,674
    Nontaxable benefits
    $26,132
    Filer's total
    $584,939

  • DOWNIN ANDREW

    CHIEF MARKETING & DIGITAL OFFICER

    Total calculated
    $511,884
    From this org
    $334,398
    From related orgs
    $0
    Other
    $177,486
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $270,868
    Bonus
    $61,479
    Other
    $2,051
    Deferred
    $162,280
    Nontaxable benefits
    $15,206
    Filer's total
    $511,884

  • GRIEGER SHARON D

    CHIEF RISK OFFICER

    Total calculated
    $548,343
    From this org
    $330,141
    From related orgs
    $0
    Other
    $218,202
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $266,883
    Bonus
    $61,497
    Other
    $1,761
    Deferred
    $195,370
    Nontaxable benefits
    $22,832
    Filer's total
    $548,343

  • PAPOCCIA MARK

    CHIEF MBR EXPERIENCE OFFICER

    Total calculated
    $523,650
    From this org
    $326,516
    From related orgs
    $0
    Other
    $197,134
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $260,798
    Bonus
    $61,638
    Other
    $4,080
    Deferred
    $170,702
    Nontaxable benefits
    $26,432
    Filer's total
    $523,650

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 · 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 4B
DURING 2022, THE CREDIT UNION IMPLEMENTED A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN FOR CERTAIN EMPLOYEES. THE AMOUNT OF FUTURE BENEFIT ACCRUED BY THE CREDIT UNION DURING 2022 FOR EACH PARTICIPANT IS REPORTED AS PART OF "OTHER COMPENSATION" REPORTED IN PART VII, COLUMN F AND IN SCHEDULE J, PART II, COLUMN C, UNDER 'RETIREMENT AND OTHER DEFERRED COMPENSATION." A LIST OF THE PARTICIPANTS AND THE ACCRUED BENEFIT FOR EACH IS PROVIDED BELOW. SAGEHORN-ELLIOTT, SANDRA: $1,229,362 ODOM, SCOTT: $132,812 HOYLE, ROBERT: $234,394 PINARD, JEREMY: $173,046 GRIEGER, SHARON D.: $175,168 PAPOCCIA, MARK: $151,873 DOWNIN, ANDREW: $146,596 CERTAIN EMPLOYEES PARTICIPATE IN A NON-QUALIFIED EXECUTIVE 457B PLAN. THE CREDIT UNION DOES NOT CONTRIBUTE TO THIS PLAN. THE FOLLOWING PARTICIPANTS RECEIVED BENEFIT PAYOUTS AS INDICATED DURING 2022: J. CASSISE: $19,800

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

Provenance

Return type
form_990
Tax year
2022
Filed
15 August 2023
IRS schema version
2022v5.0
Source object
202322799349301827

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