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Nonprofiteer
← ADVANTIS CREDIT UNION

Form 990 for tax year 2022

Filed by ADVANTIS CREDIT UNION.

Totals

Total revenue
$76,691,076
Total expenses
$65,042,971
Contributions and grants received
$0
Grants paid
$51,372
Program service revenue
$70,565,078
Investment income
$6,124,343
Other revenue
$1,655
Total assets, end of year
$1,984,758,504
Total liabilities, end of year
$1,773,405,527
Net assets or fund balances, end of year
$211,352,977
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: LOANS

    total $59,760,678 · related or exempt $59,760,678

  • 2b · Program service revenue: SERVICE CHARGES AND FE

    total $4,551,296 · related or exempt $4,520,258 · unrelated business $31,038

  • 2c · Program service revenue: OTHER NON INTEREST INC

    total $3,008,552 · related or exempt $2,055,217 · unrelated business $953,335

  • 2d · Program service revenue: INTERCHANGE INCOME

    total $2,617,428 · related or exempt $2,617,428

  • 2e · Program service revenue: NET LOSS ON SALE OF LO

    total $627,124 · related or exempt $627,124

  • 3 · Investment income

    total $6,110,530 · excluded $6,110,530

  • 6a · Gross rents

    real property $1,655

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $1,655

  • 6d · Net rental income or loss

    total $1,655 · excluded $1,655

  • 7a · Gross sales of assets other than inventory

    securities $7,451,865

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

    securities $7,438,052

  • 7c · Gain or loss

    securities $13,813

  • 7d · Net gain or loss

    total $13,813 · related or exempt $240,029 · excluded -$226,216

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $11,000

  • 2 · Grants to domestic individuals

    total $40,372

  • 5 · Compensation of officers, directors and key employees

    total $4,577,929

  • 7 · Other salaries and wages

    total $16,172,548

  • 8 · Pension plan contributions

    total $1,488,596

  • 9 · Other employee benefits

    total $3,980,647

  • 10 · Payroll taxes

    total $2,113,894

  • 11b · Fees: legal

    total $478,366

  • 11c · Fees: accounting

    total $187,456

  • 11g · Fees: other

    total $968,950

  • 12 · Advertising and promotion

    total $2,038,111

  • 13 · Office expenses

    total $2,905,037

  • 14 · Information technology

    total $5,141,441

  • 16 · Occupancy

    total $3,129,954

  • 17 · Travel

    total $75,189

  • 19 · Conferences, conventions and meetings

    total $299,144

  • 20 · Interest

    total $8,868,576

  • 22 · Depreciation, depletion and amortization

    total $3,053,321

  • 23 · Insurance

    total $219,015

  • 24a · Other expenses: PROVISION FOR LOAN LOSS

    total $4,013,469

  • 24b · Other expenses: LENDING EXPENSE

    total $1,649,656

  • 24c · Other expenses: VISA/ATM EXPENSE

    total $1,528,680

  • 24e · All other expenses

    total $2,101,620

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $534,479,783 · end of year $210,461,465

  • 7 · Other notes and loans receivable

    beginning of year $1,332,189,244 · end of year $1,499,409,447

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,904,792 · end of year $1,824,546

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

    $72,975,295

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

    $15,818,163

  • 10c · Land, buildings and equipment, net

    beginning of year $26,201,003 · end of year $57,157,132

  • 11 · Investments: publicly traded securities

    beginning of year $10,581,653 · end of year $131,890,317

  • 12 · Investments: other securities

    beginning of year $10,560,982 · end of year $24,854,694

  • 15 · Other assets

    beginning of year $64,456,923 · end of year $59,160,903

  • 17 · Accounts payable and accrued expenses

    beginning of year $17,448,793 · end of year $20,580,258

  • 23 · Secured mortgages and notes payable

    beginning of year $50,000,000 · end of year $80,000,000

  • 25 · Other liabilities

    beginning of year $1,709,627,967 · end of year $1,672,825,269

  • 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 $203,297,620 · end of year $211,352,977

Mission and programs · 2022

Mission

TO IMPROVE THE FINANCIAL LIVES OF OUR MEMBERS

Activities or mission (Part I)

PROVIDING FINANCIAL SERVICES TO MEMBERS

  • THE CREDIT UNION PROVIDES FINANCIAL SERVICES TO 90,023 MEMBERS. SERVICES INCLUDE SHARE DEPOSITS AND LOANS TO MEMBERS.

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

Listed in Part VII

  • AMANDA OWINGS

    CHAIR

    Total calculated
    $16,618
    From this org
    $16,618
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • JACOB JENSEN

    DIRECTOR

    Total calculated
    $16,038
    From this org
    $16,038
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • BRYAN SIMS

    SECRETARY/TREASURER, RISK & FINANCE COMMITTEE CHAI

    Total calculated
    $14,667
    From this org
    $14,667
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • RENEE HALPERN

    DIRECTOR, NOMINATING COMMITTEE CHAIR

    Total calculated
    $14,648
    From this org
    $14,648
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • TARUN GUDZ

    VICE CHAIR, GOVERNANCE COMMITTEE CHAIR

    Total calculated
    $14,648
    From this org
    $14,648
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • TAMMY TESKE

    DIRECTOR

    Total calculated
    $13,855
    From this org
    $13,855
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • FREDERIC DUPEYROUX

    DIRECTOR

    Total calculated
    $13,833
    From this org
    $13,833
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • BRANDON LEPLEY

    AUDIT COMMITTEE MEMBER

    Total calculated
    $13,665
    From this org
    $13,665
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • KELLAN DAVIS

    AUDIT COMMITTEE CHAIR

    Total calculated
    $13,588
    From this org
    $13,588
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • LIZ SPEER

    AUDIT COMMITTEE MEMBER

    Total calculated
    $13,000
    From this org
    $13,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • ROSS WESCOTT

    AUDIT COMMITTEE MEMBER

    Total calculated
    $13,000
    From this org
    $13,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • ANDRES DOLBERG

    DIRECTOR THRU 8/22

    Total calculated
    $12,583
    From this org
    $12,583
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • TOM HOANG

    AUDIT COMMITTEE MEMBER THRU 6/22

    Total calculated
    $9,750
    From this org
    $9,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • WILLIAM KNUTHS

    AUDIT COMMITTEE MEMBER

    Total calculated
    $8,292
    From this org
    $8,292
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • NATHAN MORALES

    ASSOCIATE DIRECTOR

    Total calculated
    $3,303
    From this org
    $3,303
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • TRACI ROSSI

    DIRECTOR

    Total calculated
    $3,303
    From this org
    $3,303
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • PATRICK HAGER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • ROGER HEDIGER

    EMERITUS DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • LAURIE WILSON

    SVP / CFO THRU 5/22

    Total calculated
    $773,987
    From this org
    $754,137
    From related orgs
    $0
    Other
    $19,850
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $98,252
    Bonus
    $81,190
    Other
    $574,695
    Deferred
    $15,630
    Nontaxable benefits
    $4,220
    Filer's total
    $773,987

  • JASON WERTS

    PRESIDENT/CEO

    Total calculated
    $671,285
    From this org
    $632,373
    From related orgs
    $0
    Other
    $38,912
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $504,116
    Bonus
    $119,857
    Other
    $8,400
    Deferred
    $21,350
    Nontaxable benefits
    $17,562
    Filer's total
    $671,285

  • KELI MYERS

    SVP / CHIEF OPERATING OFFICER

    Total calculated
    $448,121
    From this org
    $410,954
    From related orgs
    $0
    Other
    $37,167
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $313,396
    Bonus
    $97,410
    Other
    $148
    Deferred
    $20,122
    Nontaxable benefits
    $17,045
    Filer's total
    $448,121

  • CHRISTOPHER GROSHKO

    SVP / CHIEF EXPERIENCE OFFICER

    Total calculated
    $385,252
    From this org
    $355,739
    From related orgs
    $0
    Other
    $29,513
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $288,923
    Bonus
    $66,816
    Other
    $0
    Deferred
    $20,225
    Nontaxable benefits
    $9,288
    Filer's total
    $385,252

  • TIMOTHY CLOUSE

    SVP / CHIEF INNOVATION OFFICER

    Total calculated
    $380,604
    From this org
    $344,060
    From related orgs
    $0
    Other
    $36,544
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $261,325
    Bonus
    $82,257
    Other
    $478
    Deferred
    $18,287
    Nontaxable benefits
    $18,257
    Filer's total
    $380,604

  • GREG SPEAR

    SVP / CHIEF FINANCIAL OFFICER

    Total calculated
    $299,114
    From this org
    $275,296
    From related orgs
    $0
    Other
    $23,818
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $275,000
    Bonus
    $296
    Other
    $0
    Deferred
    $13,125
    Nontaxable benefits
    $10,693
    Filer's total
    $299,114

  • JOHN NICHOLS

    SVP OF MARKETING

    Total calculated
    $288,907
    From this org
    $261,302
    From related orgs
    $0
    Other
    $27,605
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $214,500
    Bonus
    $46,802
    Other
    $0
    Deferred
    $15,015
    Nontaxable benefits
    $12,590
    Filer's total
    $288,907

  • JENNIFER MCMURRAY

    VP OF STRATEGY & ADVOCACY

    Total calculated
    $166,683
    From this org
    $156,302
    From related orgs
    $0
    Other
    $10,381
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $143,970
    Bonus
    $12,332
    Other
    $0
    Deferred
    $10,078
    Nontaxable benefits
    $303
    Filer's total
    $166,683

  • MATTHEW RUSSELL

    LICENSED FINANCIAL ADVISOR THRU 9/22

    Total calculated
    $337,168
    From this org
    $305,282
    From related orgs
    $0
    Other
    $31,886
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $40,486
    Bonus
    $0
    Other
    $264,796
    Deferred
    $17,929
    Nontaxable benefits
    $13,957
    Filer's total
    $337,168

  • TREVOR HUTCHENS

    VP OF LENDING

    Total calculated
    $256,799
    From this org
    $224,497
    From related orgs
    $0
    Other
    $32,302
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $210,573
    Bonus
    $13,924
    Other
    $0
    Deferred
    $14,740
    Nontaxable benefits
    $17,562
    Filer's total
    $256,799

  • KELLY SONFLIETH

    VP OF PEOPLE & CULTURE

    Total calculated
    $250,799
    From this org
    $225,161
    From related orgs
    $0
    Other
    $25,638
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $209,465
    Bonus
    $15,696
    Other
    $0
    Deferred
    $13,325
    Nontaxable benefits
    $12,313
    Filer's total
    $250,799

  • JERI MAHER

    MORTGAGE LOAN OFFICER - COMMISSIONED

    Total calculated
    $244,381
    From this org
    $221,938
    From related orgs
    $0
    Other
    $22,443
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $50,940
    Bonus
    $6,096
    Other
    $164,902
    Deferred
    $15,109
    Nontaxable benefits
    $7,334
    Filer's total
    $244,381

  • MARY ELLEN LANZISERA

    DIRECTOR OF RISK MANAGEMENT

    Total calculated
    $204,610
    From this org
    $185,293
    From related orgs
    $0
    Other
    $19,317
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $169,138
    Bonus
    $16,044
    Other
    $111
    Deferred
    $11,840
    Nontaxable benefits
    $7,477
    Filer's total
    $204,610

  • ROBERT CORWIN

    EXECUTIVE ADVISOR

    Total calculated
    $969,185
    From this org
    $960,000
    From related orgs
    $0
    Other
    $9,185
    Hours/week
    16

    Schedule J breakdown matched by us

    Base
    $60,000
    Bonus
    $0
    Other
    $900,000
    Deferred
    $9,150
    Nontaxable benefits
    $35
    Filer's total
    $969,185

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 · Tax indemnification and gross-up payments
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 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 1A
OCCASIONAL AIRFARE FOR COMPANIONS ON CREDIT UNION OFFICIAL BUSINESS, AS COVERED IN THE OFFICIALS EXPENSE POLICY.
PART I, LINE 3
APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE, COMPENSATION SURVEY OR STUDY.
PART I, LINE 4B
THE FORMER PRESIDENT/CEO AND THE FORMER SVP/CHIEF FINANCIAL OFFICER PARTICIPATED IN A 457(F) RETIREMENT PLAN. DISTRIBUTIONS OF $900,000 FROM THE PLAN WERE PAID TO ROBERT CORWIN AND $500,000 FROM THE PLAN WERE PAID TO LAURIE WILSON DURING 2022.

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
18 October 2023
IRS schema version
2022v5.0
Source object
202332979349302058

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