Form 990 for tax year 2023
Filed by ACHIEVE FINANCIAL CREDIT UNION INC.
Totals
- Total revenue
- $12,016,169
- Total expenses
- $11,112,680
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $7,742,327
- Investment income
- $737,670
- Other revenue
- $3,536,172
- Total assets, end of year
- $192,475,799
- Total liabilities, end of year
- $181,359,436
- Net assets or fund balances, end of year
- $11,116,363
- 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: LOAN INCOME
total $7,742,327 · related or exempt $7,742,327
-
3 · Investment income
total $737,670 · related or exempt $737,670
-
11a · Other revenue: MISCELLANEOUS INCOME
total $3,536,172 · related or exempt $3,505,960 · unrelated business $30,212
-
11e · Other revenue, total
$3,536,172
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $738,202
-
7 · Other salaries and wages
total $1,626,073
-
9 · Other employee benefits
total $269,435
-
10 · Payroll taxes
total $188,862
-
11a · Fees: management
total $132,025
-
11b · Fees: legal
total $12,000
-
11c · Fees: accounting
total $34,420
-
12 · Advertising and promotion
total $218,033
-
13 · Office expenses
total $1,813,215
-
14 · Information technology
total $699,684
-
16 · Occupancy
total $395,928
-
17 · Travel
total $33,581
-
20 · Interest
total $2,161,964
-
22 · Depreciation, depletion and amortization
total $418,257
-
23 · Insurance
total $72,640
-
24a · Other expenses: LOAN PROCESSING EXPENSE
total $1,086,737
-
24b · Other expenses: PROVISION FOR LOAN LOSS
total $920,575
-
24c · Other expenses: MISCELLANEOUS EXPENSES
total $291,049
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $4,470,927 · end of year $2,033,548
-
2 · Savings and temporary cash investments
beginning of year $8,994,056 · end of year $6,987,610
-
4 · Accounts receivable
beginning of year $118,278 · end of year $273,838
-
5 · Loans and receivables from officers and key people
beginning of year $3,262,875 · end of year $3,065,756
-
7 · Other notes and loans receivable
beginning of year $116,289,493 · end of year $130,753,283
-
9 · Prepaid expenses and deferred charges
beginning of year $1,023,608 · end of year $1,411,653
-
10a · Land, buildings and equipment: cost or other basis
$11,196,841
-
10b · Land, buildings and equipment: accumulated depreciation
$5,142,513
-
10c · Land, buildings and equipment, net
beginning of year $5,533,649 · end of year $6,054,328
-
11 · Investments: publicly traded securities
beginning of year $41,029,302 · end of year $38,967,569
-
12 · Investments: other securities
beginning of year $1,947,638 · end of year $2,384,037
-
15 · Other assets
beginning of year $580,901 · end of year $544,177
-
17 · Accounts payable and accrued expenses
beginning of year $1,548,895 · end of year $1,068,907
-
23 · Secured mortgages and notes payable
end of year $10,000,000
-
24 · Unsecured notes and loans payable
beginning of year $7,123,576 · end of year $8,300,000
-
25 · Other liabilities
beginning of year $165,259,724 · end of year $161,990,529
-
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 $9,318,532 · end of year $11,116,363
Mission and programs · 2023
Mission
WE PROVIDE FINANCIAL SERVICES FOR OUR MEMBERS.
Activities or mission (Part I)
PROVIDE FINANCIAL SERVICES TO OUR MEMBERS.
-
ORIGINATION AND MAINTENANCE OF MEMBERS' DEPOSIT ACCOUNTS
-
ORIGINATION AND MAINTENANCE OF MEMBERS' LOAN ACCOUNTS
-
PAYMENT OF INTEREST AND DIVIDENDS
As filed on the 2023 return.
Listed in Part VII
-
Thomas LangdonTHOMAS LANGDON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
John StairsJOHN STAIRS
TREASURER/SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
William AckermanWILLIAM ACKERMAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
John FredericksJOHN FREDERICKS
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 1
-
Elaine RichardsELAINE RICHARDS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Dene WelageDENE WELAGE
VICE CHAIRMAN
- Total calculated
- $0
- Hours/week
- 1
-
Jason SmithJASON SMITH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Andrew KlimkoskiANDREW KLIMKOSKI
PRESIDENT/CEO
- Total calculated
- $317,640
- From this org
- $289,116
- From related orgs
- $0
- Other
- $28,524
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $210,423
- Bonus
- $38,459
- Other
- $40,234
- Deferred
- $10,495
- Nontaxable benefits
- $18,029
- Filer's total
- $317,640
-
Matthew YussmanMATTHEW YUSSMAN
CFO THROUGH 5/5/2023
- Total calculated
- $89,548
- From this org
- $86,853
- From related orgs
- $0
- Other
- $2,695
- Hours/week
- 50
-
Karen HayesKAREN HAYES
DIRECTOR OF HUMAN RESOURCES
- Total calculated
- $105,313
- From this org
- $101,013
- From related orgs
- $0
- Other
- $4,300
- Hours/week
- 50
-
Melissa D'AgostinoMELISSA D'AGOSTINO
MEMBER EXPERIENCE OFFICER
- Total calculated
- $143,549
- From this org
- $137,599
- From related orgs
- $0
- Other
- $5,950
- Hours/week
- 50
-
Brian ScavoneBRIAN SCAVONE
COO
- Total calculated
- $211,216
- From this org
- $202,697
- From related orgs
- $0
- Other
- $8,519
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $177,491
- Bonus
- $25,146
- Other
- $60
- Deferred
- $7,802
- Nontaxable benefits
- $717
- Filer's total
- $211,216
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 · Tax indemnification and gross-up payments
- 1b · Written policy on the line-1a expenses
- 3 · Compensation committee
- 3 · Written employment contract
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
Answered no
- 2 · Substantiation required before reimbursing expenses
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
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
- 1 July 2024
- IRS schema version
- 2023v5.1
- Source object
- 202421859349300312
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