Form 990 for tax year 2022
Filed by CREDIT UNIONS IN THE STATE OF WASHINGTON.
Totals
- Total revenue
- $6,466,816
- Total expenses
- $4,537,955
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $5,765,985
- Investment income
- $621,363
- Other revenue
- $79,468
- Total assets, end of year
- $152,926,875
- Total liabilities, end of year
- $138,288,978
- Net assets or fund balances, end of year
- $14,637,897
- 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 INTEREST
total $4,306,603 · related or exempt $4,306,603
-
2b · Program service revenue: FEES & CHARGES
total $861,491 · related or exempt $757,041 · unrelated business $104,450
-
2c · Program service revenue: CARD CHECK INTERCHANGE
total $328,992 · related or exempt $328,992
-
2d · Program service revenue: VISA INTERCHANGE INCOM
total $268,899 · related or exempt $268,899
-
3 · Investment income
total $621,363 · excluded $621,363
-
11a · Other revenue: OTHER INCOME
total $79,468 · related or exempt $79,468
-
11e · Other revenue, total
$79,468
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $501,431
-
7 · Other salaries and wages
total $912,231
-
8 · Pension plan contributions
total $52,402
-
9 · Other employee benefits
total $187,918
-
10 · Payroll taxes
total $118,674
-
11b · Fees: legal
total $2,984
-
11c · Fees: accounting
total $36,959
-
11g · Fees: other
total $146,254
-
12 · Advertising and promotion
total $39,715
-
13 · Office expenses
total $486,896
-
14 · Information technology
total $20,910
-
16 · Occupancy
total $223,266
-
17 · Travel
total $6,000
-
19 · Conferences, conventions and meetings
total $106,911
-
20 · Interest
total $136,670
-
22 · Depreciation, depletion and amortization
total $100,753
-
23 · Insurance
total $49,179
-
24a · Other expenses: UBI TAXES
total $1,685
-
24b · Other expenses: LOAN SERVICING EXPENSE
total $823,462
-
24c · Other expenses: DATA PROCESSING
total $327,247
-
24d · Other expenses: OTHER EXPENSES
total $163,266
-
24e · All other expenses
total $93,142
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $489,316 · end of year $648,200
-
2 · Savings and temporary cash investments
beginning of year $47,161,072 · end of year $17,538,755
-
5 · Loans and receivables from officers and key people
beginning of year $2,570,685 · end of year $2,586,677
-
7 · Other notes and loans receivable
beginning of year $83,946,998 · end of year $113,427,452
-
9 · Prepaid expenses and deferred charges
beginning of year $328,275 · end of year $871,795
-
10a · Land, buildings and equipment: cost or other basis
$5,715,476
-
10b · Land, buildings and equipment: accumulated depreciation
$2,595,959
-
10c · Land, buildings and equipment, net
beginning of year $3,234,688 · end of year $3,119,517
-
12 · Investments: other securities
beginning of year $6,538,691 · end of year $12,582,236
-
15 · Other assets
beginning of year $2,766,070 · end of year $2,152,243
-
17 · Accounts payable and accrued expenses
beginning of year $222,684 · end of year $467,375
-
25 · Other liabilities
beginning of year $133,627,718 · end of year $137,821,603
-
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 $13,185,393 · end of year $14,637,897
Mission and programs · 2022
Mission
THE VISION OF MOUNTAINCREST CREDIT UNION IS THAT WE ARE A SOUND FINANCIAL INSTITUTION PROVIDING A FULL RANGE OF INNOVATIVE, COMPETITIVE PRODUCTS AND SERVICES WITH EXCEPTIONAL PERSONAL SERVICE.
Activities or mission (Part I)
YOUR HOME FOR TRUSTED, SOUND FINANCIAL SERVICES WITH THAT PERSONAL TOUCH.
-
PROVIDE FINANCIAL SERVICES TO 10,107 MEMBERS. THESE SERVICES INCLUDE, BUT ARE NOT LIMITED TO, PROVIDING REAL ESTATE AND OTHER SECURED/UNSECURED CONSUMER LOANS, CHECKING AND SAVINGS PROGRAMS, AND CREDIT CARD SERVICES.
As filed on the 2022 return.
Listed in Part VII
-
Susan WebsterSUSAN WEBSTER
VICE PRESIDENT/CFO/CEO
- Total calculated
- $115,512
- From this org
- $163,620
- From related orgs
- $0
- Other
- -$48,108
- Hours/week
- 40
-
Mark MorrisonMARK MORRISON
PRESIDENT/CEO (THRU 05/22)
- Total calculated
- $214,167
- From this org
- $210,342
- From related orgs
- $0
- Other
- $3,825
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $210,342
- Bonus
- $0
- Other
- $0
- Deferred
- $3,399
- Nontaxable benefits
- $426
- Filer's total
- $214,167
-
Lindsey HartelroadLINDSEY HARTELROAD
CFO
- Total calculated
- $106,171
- From this org
- $93,197
- From related orgs
- $0
- Other
- $12,974
- Hours/week
- 40
-
Bruce LandreBRUCE LANDRE
BOARD CHAIRPERSON
- Total calculated
- $0
- Hours/week
- 1
-
Shirley BradfordSHIRLEY BRADFORD
BOARD VICE-CHAIRPERSON
- Total calculated
- $0
- Hours/week
- 1
-
Donald HoldridgeDONALD HOLDRIDGE
BOARD SECRETARY/TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Phil MitchellPHIL MITCHELL
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Stephen PowersSTEPHEN POWERS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Patrick GallagherPATRICK GALLAGHER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Kelvin SmithKELVIN SMITH
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
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 survey or study
- 3 · Approval by the board or compensation committee
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
Answered no
- 4c · Equity-based compensation arrangement
The filer's explanations (Part III)
- PART I, LINES 4A-B
- MARK MORRISON RECEIVED BI-WEEKLY SEVERANCE PAYMENTS OF $7,646 STARTING FROM HIS DEPARTURE IN MAY 1ST, 2022 THROUGH THE END OF 2022. SUSAN WEBSTER AND MARK MORRISON PARTICIPATED IN A SPLIT DOLLAR LOAN PLAN. MARK MORRISON, WHO DEPARTED IN MAY 2022 WILL BE PAID OUT EACH YEAR OVER THE NEXT 9 YEARS.
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
- 2022
- Filed
- 11 May 2023
- IRS schema version
- 2022v5.0
- Source object
- 202311319349306156
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