Form 990 for tax year 2023
Filed by CREDIT UNIONS CHARTERED IN THE STATE OF COLORADO.
Totals
- Total revenue
- $10,156,671
- Total expenses
- $8,335,951
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $8,718,388
- Investment income
- $1,368,497
- Other revenue
- $69,786
- Total assets, end of year
- $208,549,423
- Total liabilities, end of year
- $189,567,727
- Net assets or fund balances, end of year
- $18,981,696
- 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: Interest Income/Loans
total $6,995,773 · related or exempt $6,995,773 · unrelated business $0 · excluded $0
-
2b · Program service revenue: Other Income
total $1,163,194 · related or exempt $1,163,194 · unrelated business $0 · excluded $0
-
2c · Program service revenue: Fee Income
total $559,421 · related or exempt $559,421 · 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 $1,368,497 · related or exempt $0 · unrelated business $0 · excluded $1,368,497
-
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 $60,306 · personal property $0
-
6b · Less rental expenses
real property $0 · personal property $0
-
6c · Rental income or loss
real property $60,306 · personal property $0
-
6d · Net rental income or loss
total $60,306 · related or exempt $0 · unrelated business $0 · excluded $60,306
-
7c · Gain or loss
securities $0 · other assets $0
-
11a · Other revenue: Non-Member ATM Fees
total $9,480 · related or exempt $0 · unrelated business $9,480 · excluded $0
-
11d · All other revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
11e · Other revenue, total
$9,480
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
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 $545,176
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $1,735,225
-
8 · Pension plan contributions
total $52,619
-
9 · Other employee benefits
total $292,105
-
10 · Payroll taxes
total $189,778
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $11,371
-
11c · Fees: accounting
total $31,000
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $53,155
-
11g · Fees: other
total $865,123
-
12 · Advertising and promotion
total $397,225
-
13 · Office expenses
total $493,703
-
14 · Information technology
total $425,845
-
15 · Royalties
total $0
-
16 · Occupancy
total $222,997
-
17 · Travel
total $25,654
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $16,824
-
20 · Interest
total $0
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $276,889
-
23 · Insurance
total $42,094
-
24a · Other expenses: Dividend and Interest Expense
total $1,778,314
-
24b · Other expenses: Provision for Credit Losses
total $646,678
-
24c · Other expenses: Loan Servicing
total $122,745
-
24d · Other expenses: Miscellaneous Expenses
total $111,431
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,562,188 · end of year $1,341,046
-
2 · Savings and temporary cash investments
beginning of year $10,687,564 · end of year $19,859,984
-
3 · Pledges and grants receivable
beginning of year $0 · end of year $0
-
4 · Accounts receivable
beginning of year $2,000 · end of year $0
-
5 · Loans and receivables from officers and key people
beginning of year $0 · end of year $0
-
6 · Loans and receivables from disqualified persons
beginning of year $0 · end of year $0
-
7 · Other notes and loans receivable
beginning of year $127,474,643 · end of year $138,427,063
-
8 · Inventories for sale or use
beginning of year $0 · end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $187,667 · end of year $288,176
-
10a · Land, buildings and equipment: cost or other basis
$9,324,927
-
10b · Land, buildings and equipment: accumulated depreciation
$4,831,023
-
10c · Land, buildings and equipment, net
beginning of year $4,570,641 · end of year $4,493,904
-
11 · Investments: publicly traded securities
beginning of year $0 · end of year $0
-
12 · Investments: other securities
beginning of year $56,094,591 · end of year $40,964,314
-
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 $3,062,995 · end of year $3,174,936
-
17 · Accounts payable and accrued expenses
beginning of year $1,203,502 · end of year $1,383,609
-
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 $338,488 · end of year $419,748
-
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 $185,296,359 · end of year $187,764,370
-
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 $16,803,940 · end of year $18,981,696
Mission and programs · 2023
Mission
SunWest Credit Union will create a place where people feel they belong and can have all of their financial needs met, proactively engage with our members and our community, offer easily accessible financial products and services that meet our members' needs, and grow our financial strength so we can continuously develop offerings relevant to our members' changing lives.
-
Create a place where people feel they belong and can have all of their financial needs met, while proactively engaging with our members and our community. Offer easily accessible financial products and services that meet our members' needs while growing our financial strength so we can continuously develop offerings relevant to our members' changing lives.
As filed on the 2023 return.
Listed in Part VII
-
Leslie Shepard
President/CEO
- Total calculated
- $171,689
- From this org
- $155,447
- From related orgs
- $0
- Other
- $16,242
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $155,000
- Bonus
- $0
- Other
- $447
- Deferred
- $6,106
- Nontaxable benefits
- $10,136
- Filer's total
- $171,689
-
Amy Galassini
Vice President of Finance
- Total calculated
- $129,713
- From this org
- $115,061
- From related orgs
- $0
- Other
- $14,652
- Hours/week
- 45
-
Jeff Meigs
Director of IT
- Total calculated
- $117,764
- From this org
- $103,562
- From related orgs
- $0
- Other
- $14,202
- Hours/week
- 45
-
Michael Shoaf
Vice President of Lending
- Total calculated
- $115,740
- From this org
- $109,451
- From related orgs
- $0
- Other
- $6,289
- Hours/week
- 45
-
Alexander Krinsky
Vice President of IT
- Total calculated
- $72,465
- From this org
- $60,953
- From related orgs
- $0
- Other
- $11,512
- Hours/week
- 45
-
Amy Gasperetti
VP of Member Experience
- Total calculated
- $54,498
- From this org
- $51,143
- From related orgs
- $0
- Other
- $3,355
- Hours/week
- 45
-
Andy Beeman
Board Treasurer
- Total calculated
- $668
- From this org
- $668
- From related orgs
- $0
- Other
- $0
- Hours/week
- 3
-
David Niccoli
Board Chairperson
- Total calculated
- $0
- Hours/week
- 5
-
Henry Roman
Board Vice-Chairperson
- Total calculated
- $0
- Hours/week
- 3
-
Lita Martinez
Board Secretary
- Total calculated
- $0
- Hours/week
- 3
-
Patrick Garcia
Board Member
- Total calculated
- $0
- Hours/week
- 3
-
Fred Ingo
Board Member
- Total calculated
- $0
- Hours/week
- 3
-
Gloria Santistevan-Feeback
Board Member
- Total calculated
- $0
- Hours/week
- 3
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 · Travel for companions
- 1b · Written policy on the line-1a expenses
- 2 · Substantiation required before reimbursing expenses
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
The filer's explanations (Part III)
- Schedule J, Part I, Line 1a
- Spouse travel was provided to board members. The spouse travel benefits were treated as taxable compensation if they exceeded $600. All benefits are approved through the annual budgeting process.
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
- 17 October 2024
- IRS schema version
- 2023v5.0
- Source object
- 202403039349301800
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