Form 990 for tax year 2024
Filed by CREDIT UNIONS CHARTERED IN THE STATE OF COLORADO.
Totals
- Total revenue
- $11,733,660
- Total expenses
- $10,150,543
- Contributions and grants received
- $0
- Grants paid
- $15,000
- Program service revenue
- $6,963,526
- Investment income
- $4,770,134
- Other revenue
- $0
- Total assets, end of year
- $246,429,826
- Total liabilities, end of year
- $222,494,151
- Net assets or fund balances, end of year
- $23,935,675
- Program services expenses (Part IX)
- $25,617
- Management and general expenses
- not reported
- Fundraising expenses
- not reported
- Program service expenses (Part III)
- $25,617
Program services were 0.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
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 MEMBER LOANS
total $4,974,805 · related or exempt $4,974,805
-
2b · Program service revenue: FEES MEMBER SERVICES
total $2,021,609 · related or exempt $2,002,607 · unrelated business $19,002
-
3 · Investment income
total $4,770,134 · related or exempt $4,770,134
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $15,000
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $546,730
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $1,803,993
-
8 · Pension plan contributions
total $193,990
-
9 · Other employee benefits
total $263,994
-
10 · Payroll taxes
total $183,732
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $9,779
-
11c · Fees: accounting
total $231,919
-
11d · Fees: lobbying
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $0
-
12 · Advertising and promotion
total $206,078
-
13 · Office expenses
total $725,945
-
14 · Information technology
total $656,060
-
15 · Royalties
total $0
-
16 · Occupancy
total $314,723
-
17 · Travel
total $14,200
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $73,288
-
20 · Interest
total $0
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $274,034
-
23 · Insurance
total $67,596
-
24a · Other expenses: PLASTIC CARD EXPENSE
total $393,155
-
24b · Other expenses: DIVIDENDS INTEREST ON MBR ACCTS
total $3,592,905
-
24c · Other expenses: OTHER PROFESSIONAL SERVICES
total $539,014 · program services $25,617
-
24d · Other expenses: PROVISION FOR LOAN LOSS
total $44,408
-
24e · All other expenses
total $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,184,979 · end of year $1,544,113
-
2 · Savings and temporary cash investments
beginning of year $9,119,303 · end of year $7,986,725
-
4 · Accounts receivable
beginning of year $846,421 · end of year $967,479
-
6 · Loans and receivables from disqualified persons
beginning of year $1,495,988 · end of year $1,525,386
-
7 · Other notes and loans receivable
beginning of year $84,531,832 · end of year $92,654,818
-
9 · Prepaid expenses and deferred charges
beginning of year $310,834 · end of year $180,405
-
10c · Land, buildings and equipment, net
beginning of year $2,630,243 · end of year $2,866,885
-
11 · Investments: publicly traded securities
beginning of year $58,720,788 · end of year $50,788,002
-
12 · Investments: other securities
beginning of year $76,157,000 · end of year $73,703,000
-
15 · Other assets
beginning of year $13,273,401 · end of year $14,213,013
-
17 · Accounts payable and accrued expenses
beginning of year $1,964,437 · end of year $1,707,249
-
25 · Other liabilities
beginning of year $224,582,486 · end of year $220,786,902
-
31 · Retained earnings, endowment or other funds
beginning of year $21,723,866 · end of year $23,935,675
Mission and programs · 2024
Mission
PROVIDE FINANCIAL SERVICES TO ITS MEMBERS IN THE FORM OF COMPETITIVE LOAN RATES, SAVINGS RATES, MORTGAGE LENDING, CHECKING ACCOUNTS, AND DEBIT AND CREDIT CARDS.
Activities or mission (Part I)
CREDIT UNION PROGRAMS THE CREDIT UNION IS OWNED BY APPROXIMATELY 13,218 MEMBERS. THE CREDIT UNION PROVIDES FINANCIAL SERVICES TO ITS MEMBERS, SUCH AS CONSUMER LENDING CONTINUED ON SCHEDULE O STATEMENT 1
-
PROVIDED TO THE MEMBERS A COMPETITIVE RATE ON FUNDS DEPOSITED AND LOWER COST LOANS TO MEMBERS FOR BORROWED FUNDS.
Revenue $3,812,941
-
PROVIDED TO THE CREDIT UNION MEMBERS CREDIT CARDS AND DEBIT CARDS FOR THEIR FINANCIAL SERVICE BENEFITS.
Revenue $271,748
-
PROVIDED TO THE CREDIT UNION MEMBERS SHARE DRAFT ACCOUNTS FOR THEIR FINANCIAL CONVENIENCE AND SERVICE.
Expenses $25,617
As filed on the 2024 return.
Listed in Part VII
-
Nathan CapeNATHAN CAPE
CEO
- Total calculated
- $171,516
- From this org
- $171,516
- From related orgs
- $0
- Other
- $0
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $163,087
- Bonus
- $8,429
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- $171,516
-
David PurfieldDAVID PURFIELD
CFO
- Total calculated
- $121,882
- From this org
- $121,882
- From related orgs
- $0
- Other
- $0
- Hours/week
- 50
-
Greg LeberGREG LEBER
CIO
- Total calculated
- $117,990
- From this org
- $117,990
- From related orgs
- $0
- Other
- $0
- Hours/week
- 50
-
Joella KrasovicJOELLA KRASOVIC
COO
- Total calculated
- $113,742
- From this org
- $113,742
- From related orgs
- $0
- Other
- $0
- Hours/week
- 50
-
Greg SmithGREG SMITH
CHAIRMAN OF THE BOARD
- Total calculated
- $2,400
- From this org
- $2,400
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1
-
Dave AndersonDAVE ANDERSON
VICE CHAIRMAN
- Total calculated
- $2,400
- From this org
- $2,400
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1
-
Gloria BowserGLORIA BOWSER
SEC/TREAS
- Total calculated
- $2,400
- From this org
- $2,400
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1
-
Charlie DavisCHARLIE DAVIS
DIRECTOR
- Total calculated
- $2,400
- From this org
- $2,400
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1
-
John ShriverJOHN SHRIVER
DIRECTOR
- Total calculated
- $2,400
- From this org
- $2,400
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1
-
Marilyn RhodesMARILYN RHODES
DIRECTOR
- Total calculated
- $2,400
- From this org
- $2,400
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1
-
Jayne RenkosikJAYNE RENKOSIK
DIRECTOR
- Total calculated
- $2,400
- From this org
- $2,400
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1
-
Ellen MahoneyELLEN MAHONEY
DIRECTOR
- Total calculated
- $2,400
- From this org
- $2,400
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1
-
Joey FalboJOEY FALBO
DIRECTOR
- Total calculated
- $2,400
- From this org
- $2,400
- From related orgs
- $0
- Other
- $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
- 2 · Substantiation required before reimbursing expenses
- 9 · Followed the rebuttable-presumption procedure
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
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
-
TREATS BY CHANBERLINLLC
$3,000
ENTREPRENEUR ASSISTANCE
-
THIRD GENERATION BAKINGLLC
$3,000
ENTREPRENEUR ASSISTANCE
-
SWEETHEARTS KETTLE CORN
$3,000
ENTREPRENEUR ASSISTANCE
-
BAKESMITH LLC
$3,000
ENTREPRENEUR ASSISTANCE
-
WILLIAMS FAMILY FOOD SERVICE
$3,000
ENTREPRENEUR ASSISTANCE
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 7 May 2025
- IRS schema version
- 2024v5.1
- Source object
- 202501279349302290
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