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Nonprofiteer
← FOX COMMUNITIES CREDIT UNION

Form 990 for tax year 2024

Filed by FOX COMMUNITIES CREDIT UNION.

Totals

Total revenue
$180,612,334
Total expenses
$156,030,301
Contributions and grants received
$0
Grants paid
$799,232
Program service revenue
$140,679,482
Investment income
$38,602,275
Other revenue
$1,330,577
Total assets, end of year
$3,009,910,815
Total liabilities, end of year
$2,737,187,610
Net assets or fund balances, end of year
$272,723,205
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 $113,842,342 · related or exempt $113,842,342

  • 2b · Program service revenue: INTERCHANGE INCOME

    total $13,028,214 · related or exempt $13,028,214

  • 2c · Program service revenue: FEE INCOME

    total $10,970,459 · related or exempt $10,920,977 · unrelated business $49,482

  • 2d · Program service revenue: OTHER OPERATING INCOME

    total $2,838,467 · related or exempt $2,430,196 · unrelated business $408,271

  • 3 · Investment income

    total $38,076,063 · excluded $38,076,063

  • 6a · Gross rents

    real property $251,392

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $251,392

  • 6d · Net rental income or loss

    total $251,392 · excluded $251,392

  • 7a · Gross sales of assets other than inventory

    securities $397,226 · other assets $128,986

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

    securities $0 · other assets $0

  • 7c · Gain or loss

    securities $397,226 · other assets $128,986

  • 7d · Net gain or loss

    total $526,212 · related or exempt $526,212

  • 11a · Other revenue: INCREASE IN CSV OF LIFE INSURANCE

    total $779,280 · related or exempt $779,280

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

    total $299,905 · related or exempt $299,905

  • 11e · Other revenue, total

    $1,079,185

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $799,232

  • 5 · Compensation of officers, directors and key employees

    total $2,480,452

  • 7 · Other salaries and wages

    total $25,867,068

  • 8 · Pension plan contributions

    total $1,574,783

  • 9 · Other employee benefits

    total $7,705,832

  • 10 · Payroll taxes

    total $2,171,412

  • 11b · Fees: legal

    total $288,395

  • 11c · Fees: accounting

    total $267,980

  • 12 · Advertising and promotion

    total $2,750,036

  • 13 · Office expenses

    total $2,780,056

  • 14 · Information technology

    total $8,125,044

  • 16 · Occupancy

    total $2,320,859

  • 17 · Travel

    total $313,274

  • 19 · Conferences, conventions and meetings

    total $414,778

  • 20 · Interest

    total $26,994,827

  • 22 · Depreciation, depletion and amortization

    total $2,936,978

  • 23 · Insurance

    total $351,372

  • 24a · Other expenses: DIVIDENDS ON SHARES

    total $51,604,562

  • 24b · Other expenses: LOAN ORIGINATION AND SE

    total $5,274,082

  • 24c · Other expenses: MEMBER ACCOUNT/CARD COS

    total $5,117,558

  • 24d · Other expenses: PROVISION FOR LOAN LOSS

    total $3,977,938

  • 24e · All other expenses

    total $1,913,783

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $25,999,713 · end of year $25,792,449

  • 2 · Savings and temporary cash investments

    beginning of year $93,646,318 · end of year $157,525,369

  • 4 · Accounts receivable

    beginning of year $392,792 · end of year $605,233

  • 5 · Loans and receivables from officers and key people

    beginning of year $1,805,469 · end of year $1,823,523

  • 7 · Other notes and loans receivable

    beginning of year $2,239,636,979 · end of year $2,344,120,354

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,689,405 · end of year $3,707,512

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

    $60,391,709

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

    $19,073,310

  • 10c · Land, buildings and equipment, net

    beginning of year $44,782,693 · end of year $41,318,399

  • 11 · Investments: publicly traded securities

    beginning of year $341,231,038 · end of year $335,123,610

  • 12 · Investments: other securities

    end of year $1,580,511

  • 13 · Investments: program-related

    beginning of year $29,922,888 · end of year $33,770,630

  • 14 · Intangible assets

    beginning of year $9,907 · end of year $283

  • 15 · Other assets

    beginning of year $56,839,000 · end of year $64,542,942

  • 17 · Accounts payable and accrued expenses

    beginning of year $93,317,805 · end of year $35,647,655

  • 21 · Escrow or custodial account liability

    beginning of year $1,610,997 · end of year $2,019,113

  • 23 · Secured mortgages and notes payable

    beginning of year $224,367,174 · end of year $355,282,736

  • 25 · Other liabilities

    beginning of year $2,270,660,600 · end of year $2,344,238,106

  • 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 $248,999,626 · end of year $272,723,205

Mission and programs · 2024

Mission

WE PARTNER WITH OUR MEMBERS, COMMUNITIES, AND FOX FAMILY TO BUILD STRONGER FINANCIAL FUTURES.

  • WE OFFER LOANS FOR PURCHASES OF RESIDENTIAL REAL ESTATE, CREDIT CARDS, AUTOMOBILES AND OTHER CONSUMER PURPOSES TO OUR INDIVIDUAL MEMBERS, AND OUR SMALL BUSINESS MEMBERS. AS OF 12/31/2024 WE HAD $1.1 BILLION OUTSTANDING IN RESIDENTIAL REAL ESTATE AND HOME EQUITY LOANS, $543 MILLION OUTSTANDING IN CONSUMER LOANS, AND $729 MILLION OUTSTANDING IN MEMBER BUSINESS LOANS.

  • WE OFFER DEPOSIT PRODUCTS TO INDIVIDUAL MEMBERS AS WELL AS BUSINESS MEMBERS THAT QUALIFY IN OUR FIELD OF MEMBERSHIP.

  • FOX DONATED IN EXCESS OF $875,000 TO VARIOUS LOCAL CHARITIES THROUGHOUT THE YEAR. FOX CONTINUES TO SUPPORT LOCAL NONPROFITS AND VOLUNTEERS AT MANY COMMUNITY EVENTS.

As filed on the 2024 return.

Listed in Part VII

  • PAUL SIPPL

    DIRECTOR

    Total calculated
    $11,300
    From this org
    $11,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • JAMES RICHARDSON

    VICE CHAIR

    Total calculated
    $12,000
    From this org
    $12,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • MICHAEL VOELKER

    TREASURER

    Total calculated
    $11,500
    From this org
    $11,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • JESSICA FLEEK

    SECRETARY

    Total calculated
    $11,500
    From this org
    $11,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • CAMILLE KEMNITZ-ZIZZO

    DIRECTOR

    Total calculated
    $10,800
    From this org
    $10,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • WILLIAM PANELLA

    DIRECTOR

    Total calculated
    $12,000
    From this org
    $12,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • ERIKA DAVISON-AVILLES

    DIRECTOR

    Total calculated
    $8,100
    From this org
    $8,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • JOANNE BOGENSCHUTZ

    DIRECTOR

    Total calculated
    $11,300
    From this org
    $11,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • RICHARD SCOTT

    CHAIR

    Total calculated
    $15,000
    From this org
    $15,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • CHRISTOPHER ALLEN

    PRESIDENT/CEO

    Total calculated
    $721,652
    From this org
    $662,578
    From related orgs
    $0
    Other
    $59,074
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $546,779
    Bonus
    $103,799
    Other
    $12,000
    Deferred
    $24,857
    Nontaxable benefits
    $34,217
    Filer's total
    $721,652

  • NIKI SCHAUMBERG

    CHIEF FINANCIAL OFFICER

    Total calculated
    $304,665
    From this org
    $255,714
    From related orgs
    $0
    Other
    $48,951
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $227,514
    Bonus
    $28,200
    Other
    $0
    Deferred
    $14,734
    Nontaxable benefits
    $34,217
    Filer's total
    $304,665

  • KRISTINE HACKBARTH-HORN

    CHIEF PEOPLE OFFICER

    Total calculated
    $298,073
    From this org
    $250,140
    From related orgs
    $0
    Other
    $47,933
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $217,140
    Bonus
    $33,000
    Other
    $0
    Deferred
    $15,637
    Nontaxable benefits
    $32,296
    Filer's total
    $298,073

  • KORY KITOWSKI

    CHIEF INFORMATION OFFICER

    Total calculated
    $253,830
    From this org
    $230,054
    From related orgs
    $0
    Other
    $23,776
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $213,254
    Bonus
    $16,800
    Other
    $0
    Deferred
    $13,393
    Nontaxable benefits
    $10,383
    Filer's total
    $253,830

  • TOMMIE PRESLASKI

    CHIEF EXPERIENCE OFFICER

    Total calculated
    $314,676
    From this org
    $277,719
    From related orgs
    $0
    Other
    $36,957
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $217,719
    Bonus
    $60,000
    Other
    $0
    Deferred
    $5,638
    Nontaxable benefits
    $31,319
    Filer's total
    $314,676

  • MITCHELL MUSIAL

    GENERAL COUNSEL

    Total calculated
    $270,787
    From this org
    $225,674
    From related orgs
    $0
    Other
    $45,113
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $208,874
    Bonus
    $16,800
    Other
    $0
    Deferred
    $10,896
    Nontaxable benefits
    $34,217
    Filer's total
    $270,787

  • ADAM LANDSVERK

    CHIEF LENDING OFFICER

    Total calculated
    $332,605
    From this org
    $285,449
    From related orgs
    $0
    Other
    $47,156
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $235,848
    Bonus
    $49,601
    Other
    $0
    Deferred
    $12,939
    Nontaxable benefits
    $34,217
    Filer's total
    $332,605

  • MELANIE DRAHEIM

    CHIEF MARKETING OFFICE

    Total calculated
    $209,234
    From this org
    $189,624
    From related orgs
    $0
    Other
    $19,610
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $189,624
    Bonus
    $0
    Other
    $0
    Deferred
    $10,106
    Nontaxable benefits
    $9,504
    Filer's total
    $209,234

  • STEVE GINERIS

    VP OF RETAIL LENDING

    Total calculated
    $172,338
    From this org
    $162,622
    From related orgs
    $0
    Other
    $9,716
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $150,122
    Bonus
    $12,500
    Other
    $0
    Deferred
    $9,716
    Nontaxable benefits
    $0
    Filer's total
    $172,338

  • CHRISTOPHER CUMICEK

    COMMERCIAL LENDER

    Total calculated
    $226,328
    From this org
    $186,470
    From related orgs
    $0
    Other
    $39,858
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $148,870
    Bonus
    $37,600
    Other
    $0
    Deferred
    $7,562
    Nontaxable benefits
    $32,296
    Filer's total
    $226,328

  • SCOTT YUKEL

    COMMERCIAL LENDER

    Total calculated
    $224,575
    From this org
    $192,153
    From related orgs
    $0
    Other
    $32,422
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $146,739
    Bonus
    $45,414
    Other
    $0
    Deferred
    $10,418
    Nontaxable benefits
    $22,004
    Filer's total
    $224,575

  • DAWN DOBERSTEIN

    COMMERCIAL LENDER

    Total calculated
    $312,391
    From this org
    $288,827
    From related orgs
    $0
    Other
    $23,564
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $158,073
    Bonus
    $130,754
    Other
    $0
    Deferred
    $12,562
    Nontaxable benefits
    $11,002
    Filer's total
    $312,391

  • CHAD URBAN

    FINANCIAL ADVISOR

    Total calculated
    $229,093
    From this org
    $186,855
    From related orgs
    $0
    Other
    $42,238
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $39,146
    Bonus
    $147,709
    Other
    $0
    Deferred
    $9,942
    Nontaxable benefits
    $32,296
    Filer's total
    $229,093

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 · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 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
FROM F/S FOOTNOTE 9 - EMPLOYMENT BENEFIT PLANS: THE CREDIT UNION SPONSORS A NONQUALIFIED DEFERRED COMPENSATION PLAN WITH KEY MEMBERS OF ITS MANAGEMENT TEAM. THE CREDIT UNION DOES NOT MAKE CONTRIBUTIONS TO THE PLANS, WHICH ARE FUNDED SOLELY BY THE EMPLOYEES. THE DEFERRED COMPENSATION ACCOUNTS ARE AVAILABLE TO CREDITORS IN THE EVENT OF THE CREDIT UNION'S LIQUIDATION. THE BALANCES OF THESE DEFERRED COMPENSATION AGREEMENTS WAS APPROXIMATELY $1,214,100 AS OF DECEMBER 31, 2024, AND ARE INCLUDED IN PREPAID EXPENSES AND OTHER ASSETS AND ACCRUED EXPENSES AND OTHER LIABILITIES ON THE ACCOMPANYING STATEMENT OF FINANCIAL CONDITION.

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

The 10 largest by cash amount. The API serves every itemized grant.

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.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • BENEFIT SERVICES INC

    C · INSURANCE SALES · WI · 100% owned

    Directly controlled by FOX COMMUNITIES CREDIT UNION

Provenance

Return type
form_990
Tax year
2024
Filed
14 May 2025
IRS schema version
2024v5.1
Source object
202521349349305677

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