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Nonprofiteer
← Glacier Hills Credit Union

Form 990 for tax year 2023

Filed by Glacier Hills Credit Union.

Totals

Total revenue
$11,609,284
Total expenses
$9,456,252
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$9,760,949
Investment income
$1,848,335
Other revenue
$0
Total assets, end of year
$236,476,324
Total liabilities, end of year
$212,984,521
Net assets or fund balances, end of year
$23,491,803
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$0

Program services were 0.0% 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: INTERSET ON LOANS

    total $6,987,482 · related or exempt $6,987,482 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: FEE INCOME

    total $876,682 · related or exempt $876,682 · unrelated business $0 · excluded $0

  • 2c · Program service revenue: OTHER OPERATING INCOME

    total $1,896,785 · related or exempt $1,896,785 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $1,865,094 · related or exempt $1,865,094 · unrelated business $0 · excluded $0

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6a · Gross rents

    real property $0 · personal property $0

  • 6b · Less rental expenses

    real property $0 · personal property $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 7a · Gross sales of assets other than inventory

    securities $0 · other assets $0

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

    securities $0 · other assets $16,759

  • 7c · Gain or loss

    securities $0 · other assets -$16,759

  • 7d · Net gain or loss

    total -$16,759 · related or exempt -$16,759 · unrelated business $0 · excluded $0

  • 8a · Fundraising events: gross income

    $0

  • 8a · Fundraising events: contributions included on line 1c

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0 · unrelated business $0 · excluded $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $717,880

  • 7 · Other salaries and wages

    total $2,000,530

  • 8 · Pension plan contributions

    total $67,893

  • 9 · Other employee benefits

    total $525,508

  • 10 · Payroll taxes

    total $202,863

  • 11b · Fees: legal

    total $54,229

  • 11c · Fees: accounting

    total $35,083

  • 11g · Fees: other

    total $3,510

  • 12 · Advertising and promotion

    total $268,567

  • 13 · Office expenses

    total $247,741

  • 14 · Information technology

    total $712,635

  • 16 · Occupancy

    total $221,380

  • 17 · Travel

    total $7,115

  • 19 · Conferences, conventions and meetings

    total $43,506

  • 20 · Interest

    total $2,297,153

  • 22 · Depreciation, depletion and amortization

    total $409,311

  • 23 · Insurance

    total $30,384

  • 24a · Other expenses: Professional Expense

    total $1,091,387

  • 24b · Other expenses: Provision for loan losses

    total $370,615

  • 24c · Other expenses: Loan Service Expense

    total $89,090

  • 24e · All other expenses

    total $59,872

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,316,536 · end of year $1,757,858

  • 2 · Savings and temporary cash investments

    beginning of year $6,544,413 · end of year $9,161,925

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $540,204 · end of year $554,340

  • 5 · Loans and receivables from officers and key people

    beginning of year $165,154 · end of year $177,157

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $155,709,704 · end of year $165,616,932

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $192,251 · end of year $157,626

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

    $7,947,211

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

    $3,756,643

  • 10c · Land, buildings and equipment, net

    beginning of year $4,136,845 · end of year $4,190,568

  • 11 · Investments: publicly traded securities

    beginning of year $2,397,080 · end of year $2,020,315

  • 12 · Investments: other securities

    beginning of year $45,760,854 · end of year $50,990,354

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $1,824,879 · end of year $1,849,249

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,630,351 · end of year $4,127,328

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $195,644,401 · end of year $208,857,193

  • 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 $21,313,168 · end of year $23,491,803

Mission and programs · 2023

Mission

A cooperative, not-for-profit corporation, incorporated under Wisconsin State Law to encourage thrift among its members, create a source of credit at a fair and reasonable cost, and provide an opportunity for its members to improve their economic and social conditions.

Activities or mission (Part I)

A cooperative, not-for-profit corporation, incorpated under Wisconsin State Law to encourge thrift among its members, create a source of credit at a fair and reasonable cost, and provide an opportunity for its members to improve their economic and social conditions.

  • Provided low cost financial services to 17,312 members

As filed on the 2023 return.

Listed in Part VII

  • Tami Winkler

    President

    Total calculated
    $205,968
    From this org
    $180,094
    From related orgs
    $0
    Other
    $25,874
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $164,164
    Bonus
    $15,930
    Other
    $0
    Deferred
    $9,355
    Nontaxable benefits
    $16,520
    Filer's total
    $205,969

  • Travis Livingood

    Vice President of Marketing

    Total calculated
    $151,426
    From this org
    $119,213
    From related orgs
    $0
    Other
    $32,213
    Hours/week
    40

  • Eric Schmoldt

    former CFO

    Total calculated
    $123,035
    From this org
    $117,167
    From related orgs
    $0
    Other
    $5,868
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $113,667
    Bonus
    $3,500
    Other
    $0
    Deferred
    $5,868
    Nontaxable benefits
    $0
    Filer's total
    $123,035

  • Kevin Hegel

    DIRECTOR OF INFORMATION TECHNOLOGY

    Total calculated
    $120,544
    From this org
    $104,765
    From related orgs
    $0
    Other
    $15,779
    Hours/week
    40

  • Chris Trost

    Director of Lending

    Total calculated
    $114,457
    From this org
    $108,990
    From related orgs
    $0
    Other
    $5,467
    Hours/week
    40

  • Karen Wilson

    Chairperson

    Total calculated
    $350
    From this org
    $0
    From related orgs
    $0
    Other
    $350
    Hours/week
    1

  • Ken Schuh

    Vice Chairperson

    Total calculated
    $350
    From this org
    $0
    From related orgs
    $0
    Other
    $350
    Hours/week
    1

  • Stan Miske

    Treasurer

    Total calculated
    $350
    From this org
    $0
    From related orgs
    $0
    Other
    $350
    Hours/week
    1

  • Marilynn Orlopp

    Secretary

    Total calculated
    $350
    From this org
    $0
    From related orgs
    $0
    Other
    $350
    Hours/week
    1

  • Jeff Frank

    Board Member

    Total calculated
    $350
    From this org
    $0
    From related orgs
    $0
    Other
    $350
    Hours/week
    1

  • Allison Holtzer

    Board Member

    Total calculated
    $350
    From this org
    $0
    From related orgs
    $0
    Other
    $350
    Hours/week
    1

  • Joy Sterr

    Board Member

    Total calculated
    $350
    From this org
    $0
    From related orgs
    $0
    Other
    $350
    Hours/week
    1

  • Bradley Bartels

    CFO

    Total calculated
    $0
    Hours/week
    40

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

None.

Answered no

  • 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
6 November 2024
IRS schema version
2023v5.0
Source object
202433129349303248

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