Form 990 for tax year 2022
Filed by CREDIT UNIONS IN THE STATE OF CALIFORNIA.
Totals
- Total revenue
- $3,232,601
- Total expenses
- $3,071,754
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $2,738,122
- Investment income
- $494,479
- Other revenue
- $0
- Total assets, end of year
- $93,358,986
- Total liabilities, end of year
- $86,867,198
- Net assets or fund balances, end of year
- $6,491,788
- 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 $1,895,291 · related or exempt $1,895,291
-
2b · Program service revenue: OTHER OPERATING INCOME
total $479,396 · related or exempt $466,560 · unrelated business $12,836
-
2c · Program service revenue: FEE INCOME
total $363,435 · related or exempt $300,004 · unrelated business $63,431
-
3 · Investment income
total $494,479 · related or exempt $494,479
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $325,872
-
7 · Other salaries and wages
total $1,080,506
-
8 · Pension plan contributions
total $57,532
-
11b · Fees: legal
total $2,378
-
11c · Fees: accounting
total $30,300
-
11g · Fees: other
total $151,375
-
12 · Advertising and promotion
total $97,861
-
13 · Office expenses
total $495,539
-
14 · Information technology
total $150,283
-
16 · Occupancy
total $191,643
-
17 · Travel
total $67,249
-
20 · Interest
total $113,338
-
22 · Depreciation, depletion and amortization
total $68,301
-
24a · Other expenses: LOAN SERVICING EXPENSE
total $108,451
-
24b · Other expenses: MISC OPERATING EXPENSE
total $86,164
-
24c · Other expenses: PROVISION FOR LOAN & LE
total $27,000
-
24d · Other expenses: OPERATING FEES
total $17,962
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,042,834 · end of year $1,129,215
-
2 · Savings and temporary cash investments
beginning of year $10,081,958 · end of year $1,782,691
-
5 · Loans and receivables from officers and key people
beginning of year $1,424,569 · end of year $1,450,599
-
9 · Prepaid expenses and deferred charges
beginning of year $169,286 · end of year $152,870
-
10a · Land, buildings and equipment: cost or other basis
$2,653,690
-
10b · Land, buildings and equipment: accumulated depreciation
$1,869,367
-
10c · Land, buildings and equipment, net
beginning of year $199,988 · end of year $784,323
-
11 · Investments: publicly traded securities
beginning of year $25,800,400 · end of year $28,784,578
-
13 · Investments: program-related
beginning of year $61,796,229 · end of year $57,376,676
-
15 · Other assets
beginning of year $1,492,529 · end of year $1,898,034
-
17 · Accounts payable and accrued expenses
beginning of year $477,913 · end of year $1,443,364
-
25 · Other liabilities
beginning of year $92,980,607 · end of year $85,423,834
-
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 $8,549,273 · end of year $6,491,788
Mission and programs · 2022
Mission
A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT ANDSAVINGS AMONG ITS MEMBERS, CREATING A SOURCE OF CREDIT FOR THEM AT RATES OF INTEREST SET BY THE BOARD OF DIRECTORS, AND PROVIDING AN OPPORTUNITY FOR THEM TO USE AND CONTROL THEIR OWN MONEY ON A DEMOCRATIC BASIS IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS. AS A COOPERATIVE, UPWARD CREDIT UNION CONDUCTSITS BUSINESS FOR THE MUTUAL BENEFIT AND GENERAL WELFARE OF ITSMEMBERS WITH THE EARNINGS, SAVINGS, BENEFITS, OR SERVICES OF THE CREDIT UNION BEING DISTRIBUTED TO ITS MEMBERS AS PATRONS.
Activities or mission (Part I)
A COOPERATIVE ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS.
-
CONVERTED EFT SERVICE PROVIDER TO CO-OP FINANCIAL SERVICES PROVIDING MORE DIGITAL PAYMENT OPTIONS FOR OUR MEMBERS, SUCH AS DIGITAL WALLETS.
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Annie MillerANNIE MILLER
CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
Ted CelentinoTED CELENTINO
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
Angela DavisANGELA DAVIS
TREASURER
- Total calculated
- $0
- Hours/week
- 2
-
Abby VillavicencioABBY VILLAVICENCIO
SECRETARY
- Total calculated
- $0
- Hours/week
- 2
-
Reed GrahamREED GRAHAM
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Joan LatuffJOAN LATUFF
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Kaylyn DawkinsKAYLYN DAWKINS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Karen DawkinsKAREN DAWKINS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Annette BarrazaANNETTE BARRAZA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Theresa ChaseTHERESA CHASE
SUPV CMTE CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
Ann BrownANN BROWN
SUPV CMTE MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Clarence DickersonCLARENCE DICKERSON
SUPV CMTE MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Jason Mertz-PrickettJASON MERTZ-PRICKETT
PRESIDENT & CEO
- Total calculated
- $145,356
- From this org
- $130,561
- From related orgs
- $0
- Other
- $14,795
- Hours/week
- 40
-
Carol Linda WhiteCAROL LINDA WHITE
FORMER PRESIDENT & CEO
- Total calculated
- $214,816
- From this org
- $195,312
- From related orgs
- $0
- Other
- $19,504
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $195,312
- Bonus
- $0
- Other
- $0
- Deferred
- $6,631
- Nontaxable benefits
- $12,873
- Filer's total
- $214,816
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
- 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
- THE CREDIT UNION ENTERED INTO COLLATERAL SPLIT-DOLLAR LIFE INSURANCE AGREEMENTS FOR A KEY EMPLOYEE IN 2019.
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
- 18 September 2023
- IRS schema version
- 2022v5.0
- Source object
- 202312759349300436
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