Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: INTEREST INCOME ON LOANS

  total $302,152,171 · related or exempt $302,152,171

• 2b · Program service revenue: OTHER INCOME

  total $22,703,513 · related or exempt $17,737,928 · unrelated business $4,965,585

• 2c · Program service revenue: FEE INCOME

  total $3,134,738 · related or exempt $3,115,077 · unrelated business $19,661

• 3 · Investment income

  total $4,426,854 · excluded $4,426,854

• 7a · Gross sales of assets other than inventory

  securities $10,844,394 · other assets $470,532

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

  securities $14,189,000 · other assets $1,263,992

• 7c · Gain or loss

  securities -$3,344,606 · other assets -$793,460

• 7d · Net gain or loss

  total -$4,138,066 · excluded -$4,138,066

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

  total $277,954 · related or exempt $277,954

• 11e · Other revenue, total

  $277,954

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $69,055,568

• 5 · Compensation of officers, directors and key employees

  total $2,560,060

• 7 · Other salaries and wages

  total $44,431,936

• 8 · Pension plan contributions

  total $3,370,581

• 9 · Other employee benefits

  total $11,257,384

• 10 · Payroll taxes

  total $3,360,749

• 11b · Fees: legal

  total $396,339

• 11c · Fees: accounting

  total $175,179

• 11g · Fees: other

  total $8,661,383

• 12 · Advertising and promotion

  total $1,822,183

• 13 · Office expenses

  total $5,757,111

• 16 · Occupancy

  total $3,988,407

• 17 · Travel

  total $915,412

• 20 · Interest

  total $4,173,740

• 22 · Depreciation, depletion and amortization

  total $2,827,630

• 24a · Other expenses: LOAN SERVICING

  total $73,300,205

• 24b · Other expenses: PROVISION FOR LOAN LOSS

  total $35,953,957

• 24c · Other expenses: OTHER EXPENSES

  total $11,439,604

• 24d · Other expenses: OPERATING FEES

  total $210,050

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $345,359,844 · end of year $261,724,723

• 2 · Savings and temporary cash investments

  beginning of year $485,000 · end of year $15,105,477

• 5 · Loans and receivables from officers and key people

  beginning of year $23,500,934 · end of year $32,571,987

• 7 · Other notes and loans receivable

  beginning of year $3,380,104,624 · end of year $4,610,098,324

• 9 · Prepaid expenses and deferred charges

  beginning of year $4,220,291 · end of year $5,810,395

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

  $49,347,224

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

  $13,866,590

• 10c · Land, buildings and equipment, net

  beginning of year $12,867,680 · end of year $35,480,634

• 11 · Investments: publicly traded securities

  beginning of year $3,500,000 · end of year $37,484,390

• 12 · Investments: other securities

  beginning of year $16,776,390 · end of year $27,426,565

• 14 · Intangible assets

  beginning of year $7,711,710 · end of year $25,624,099

• 15 · Other assets

  beginning of year $89,917,973 · end of year $212,779,628

• 17 · Accounts payable and accrued expenses

  beginning of year $32,918,449 · end of year $38,060,866

• 23 · Secured mortgages and notes payable

  end of year $120,027,947

• 25 · Other liabilities

  beginning of year $3,455,668,251 · end of year $4,603,708,720

• 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 $395,857,746 · end of year $502,308,689

The filer's explanations (Part III)

PART I, LINE 1A

DURING 2022, SOME OF THE BOARD OF DIRECTORS HAD COMPANION TRAVEL EXPENSES THAT WERE PAID BY CONNEXUS AND ADDED TO THEIR W2.

PART I, LINE 3

CONNEXUS OBTAINS A SALARY SURVEY BASED ON JOB DUTIES AND GEOGRAPHIC LOCATION, BROKEN DOWN BY ASSET SIZE AND EMPLOYEE COUNTS, ALONG WITH INDUSTRY SPECIFIC SALARY STUDIES. CONNEXUS EVALUATES THE SALARY SURVEY INFORMATION WITH JOB PERFORMANCE AND GOAL ACHIEVEMENT TO OBTAIN A POTENTIAL SALARY INCREASE RANGE FOR THAT POSITION GRADE LEVEL. THIS INFORMATION IS REVIEWED BY THE BOARD'S EXECUTIVE COMMITTEE AND THE TOTAL REWARDS LEADER FOR APPROVAL. ANY SALARY CHANGES THAT EXCEED ESTABLISHED RANGES FOR A PARTICULAR GRADE LEVEL NEED FURTHER APPROVAL. EXEC COMPENSATION RANGES REVIEWED IN 2022 BY D.HILTON. COMPENSATION RANGE AND EMPLOYEE SPECFIC CHANGES MADE WITH DIRECTION FROM CU PRES.

PART I, LINES 4A-B

JUANITA RAUCH - SEVERANCE PAYMENT - $959,741 HEATHER RISTOW - NONQUALIFIED PLAN - PARTICIPATED, NO DISTRIBUTIONS CLAIRE MENEY - NONQUALIFIED PLAN - PARTICIPATED, NO DISTRIBUTIONS SHEILA POLAK - NONQUALIFIED PLAN - PARTICIPATED, NO DISTRIBUTIONS CHAD ROGERS - NON-QUALIFIED PLAN - PARTICIPATED, NO DISTRIBUTIONS BOYD GUSTKE - NON-QUALIFIED PLAN - PARTICIPATED, NO DISTRIBUTIONS DARYL GESSLER - NON-QUALIFIED PLAN - PARTICIPATED, NO DISTRIBUTIONS

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• FINANCIAL INSTITUTION LENDING OPTIONS LLC

  LOAN ORIGINATOR · WI · income $974,630 · assets $13,734,549

  Directly controlled by CONNEXUS CREDIT UNION