Form 990 for tax year 2023
Filed by CREDIT UNIONS CHARTERED IN THE STATE OF COLORADO.
Totals
- Total revenue
- $10,314,967
- Total expenses
- $12,811,290
- Contributions and grants received
- $0
- Grants paid
- $5,000
- Program service revenue
- $9,876,737
- Investment income
- $436,517
- Other revenue
- $1,713
- Total assets, end of year
- $164,150,908
- Total liabilities, end of year
- $153,811,219
- Net assets or fund balances, end of year
- $10,339,689
- Program services expenses (Part IX)
- $12,811,290
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $12,811,290
Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
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 MEMBER LOANS
total $8,438,173 · related or exempt $8,438,173
-
2b · Program service revenue: FEES MEMBER SERVICE
total $1,027,504 · related or exempt $1,027,504
-
2c · Program service revenue: LOAN SERVICING INCOME
total $411,060 · related or exempt $411,060
-
3 · Investment income
total $436,517 · excluded $436,517
-
11a · Other revenue: NON-MEMBER ATM FEES
total $1,713 · unrelated business $1,713
-
11e · Other revenue, total
$1,713
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $5,000 · program services $5,000
-
5 · Compensation of officers, directors and key employees
total $896,281 · program services $896,281
-
7 · Other salaries and wages
total $1,959,200 · program services $1,959,200
-
8 · Pension plan contributions
total $38,465 · program services $38,465
-
9 · Other employee benefits
total $270,824 · program services $270,824
-
10 · Payroll taxes
total $211,232 · program services $211,232
-
11b · Fees: legal
total $40,593 · program services $40,593
-
11g · Fees: other
total $801,469 · program services $801,469
-
12 · Advertising and promotion
total $134,608 · program services $134,608
-
14 · Information technology
total $547,769 · program services $547,769
-
16 · Occupancy
total $222,937 · program services $222,937
-
19 · Conferences, conventions and meetings
total $30,219 · program services $30,219
-
22 · Depreciation, depletion and amortization
total $339,464 · program services $339,464
-
24a · Other expenses: UBIT
total $22 · program services $22
-
24b · Other expenses: PROVISION FOR LOAN LOSS
total $2,930,000 · program services $2,930,000
-
24c · Other expenses: DIVIDENDS & INTEREST -M
total $1,911,895 · program services $1,911,895
-
24d · Other expenses: LOAN SERVICING EXPENSE
total $1,727,744 · program services $1,727,744
-
24e · All other expenses
total $743,568 · program services $743,568
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $456,130 · end of year $487,697
-
2 · Savings and temporary cash investments
beginning of year $4,079,864 · end of year $11,663,951
-
4 · Accounts receivable
beginning of year $18,724 · end of year $0
-
5 · Loans and receivables from officers and key people
beginning of year $4,027,730 · end of year $4,081,139
-
7 · Other notes and loans receivable
beginning of year $151,756,985 · end of year $127,977,497
-
9 · Prepaid expenses and deferred charges
beginning of year $333,015 · end of year $434,809
-
10a · Land, buildings and equipment: cost or other basis
$6,504,851
-
10b · Land, buildings and equipment: accumulated depreciation
$2,000,236
-
10c · Land, buildings and equipment, net
beginning of year $4,328,131 · end of year $4,504,615
-
12 · Investments: other securities
beginning of year $132,779 · end of year $131,757
-
15 · Other assets
beginning of year $7,949,150 · end of year $14,869,443
-
17 · Accounts payable and accrued expenses
beginning of year $556,698 · end of year $677,108
-
23 · Secured mortgages and notes payable
beginning of year $2,000,000 · end of year $0
-
25 · Other liabilities
beginning of year $157,140,500 · end of year $153,134,111
-
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 $13,385,310 · end of year $10,339,689
Mission and programs · 2023
Mission
ARAPAHOE CREDIT UNION, THROUGH SOUND FISCAL PRACTICE, EXISTS TO PROVIDE INNOVATIVE PRODUCTS AND QUALITY SERVICES THAT HELP MEET THE DAILY FINANCIAL NEEDS AND LONG-TERM GOALS OF ITS MEMBERS.
-
ACU PROVIDES CONSUMER AND REAL ESTATE LOANS TO OUR MEMBERSHIP ALONG WITH SAVINGS AND INVESTMENT ACCOUNTS. MANY DELIVERY CHANNELS ARE UTILIZED TO PROVIDE THESE PRODUCTS INCLUDING, BUT NOT LIMITED TO, TELLER LINE, SHARED BRANCHING, DEBIT AND CREDIT CARDS, ONLINE BANKING AND BILL PAY. BESIDES PROVIDING THESE PRODUCTS AND SERVICES, ARAPAHOE CREDIT UNION PARTICIPATES AND PROVIDES RESOURCES FOR OUR COMMUNITY AND ARAPAHOE COUNTY SCHOOL DISTRICT EVENTS.
Expenses $12,811,290
As filed on the 2023 return.
Listed in Part VII
-
Bruce KarrBRUCE KARR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 3
-
Kathi ErberKATHI ERBER
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 3
-
Ron SchumacherRON SCHUMACHER
TREASURER
- Total calculated
- $0
- Hours/week
- 3
-
Pat McIntoshPAT MCINTOSH
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 3
-
Andrew SextonANDREW SEXTON
SECRETARY
- Total calculated
- $0
- Hours/week
- 3
-
Andrew RothANDREW ROTH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 3
-
Wyn BarrettWYN BARRETT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 3
-
Judi Garvey-LefebvreJUDI GARVEY-LEFEBVRE
AUDIT COMMITTEE
- Total calculated
- $0
- Hours/week
- 3
-
Scott FerndelliSCOTT FERNDELLI
PRESIDENT/CEO
- Total calculated
- $363,226
- From this org
- $296,364
- From related orgs
- $0
- Other
- $66,862
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $246,970
- Bonus
- $49,394
- Other
- $0
- Deferred
- $51,015
- Nontaxable benefits
- $15,847
- Filer's total
- $363,226
-
Shauna ExstromSHAUNA EXSTROM
VP CORP ADMIN
- Total calculated
- $178,301
- From this org
- $148,733
- From related orgs
- $0
- Other
- $29,568
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $148,733
- Bonus
- $0
- Other
- $0
- Deferred
- $28,833
- Nontaxable benefits
- $735
- Filer's total
- $178,301
-
Christine EckhardtCHRISTINE ECKHARDT
COO
- Total calculated
- $220,847
- From this org
- $184,185
- From related orgs
- $0
- Other
- $36,662
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $167,441
- Bonus
- $16,744
- Other
- $0
- Deferred
- $35,735
- Nontaxable benefits
- $927
- Filer's total
- $220,847
-
Christina ArchuletaCHRISTINA ARCHULETA
AVP OF FINANCE
- Total calculated
- $133,907
- From this org
- $108,744
- From related orgs
- $0
- Other
- $25,163
- Hours/week
- 40
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 committee
- 3 · Independent compensation consultant
- 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
- CLAUDIA MILAN & SCOTT FERNDELLI SUPPLEMENTAL RETIREMENT PLAN FOR THE CREDIT UNION'S FORMER CEO & CEO SEE SCHEDULE L
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
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 7 November 2024
- IRS schema version
- 2023v5.1
- Source object
- 202403129349303810
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