Form 990 for tax year 2023
Filed by CREDIT UNIONS CHARTERED IN THE STATE OF COLORADO.
Totals
- Total revenue
- $5,202,977
- Total expenses
- $4,496,850
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $4,505,003
- Investment income
- $697,974
- Other revenue
- $0
- Total assets, end of year
- $105,036,935
- Total liabilities, end of year
- $92,295,811
- Net assets or fund balances, end of year
- $12,741,124
- 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 TO M
total $3,782,892 · related or exempt $3,782,892
-
2b · Program service revenue: OTHER INCOME
total $372,200 · related or exempt $372,200
-
2c · Program service revenue: FEES AND OTHER CHARGES
total $349,911 · related or exempt $349,911
-
3 · Investment income
total $685,343 · related or exempt $685,343
-
7a · Gross sales of assets other than inventory
other assets $12,631
-
7b · Less cost or other basis and sales expenses
other assets $0
-
7c · Gain or loss
other assets $12,631
-
7d · Net gain or loss
total $12,631 · related or exempt $12,631
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $497,794
-
7 · Other salaries and wages
total $665,216
-
8 · Pension plan contributions
total $40,739
-
9 · Other employee benefits
total $110,200
-
10 · Payroll taxes
total $89,013
-
11b · Fees: legal
total $2,550
-
11c · Fees: accounting
total $14,005
-
11g · Fees: other
total $402,724
-
12 · Advertising and promotion
total $92,424
-
13 · Office expenses
total $171,676
-
16 · Occupancy
total $87,813
-
17 · Travel
total $4,805
-
19 · Conferences, conventions and meetings
total $6,535
-
22 · Depreciation, depletion and amortization
total $67,438
-
24a · Other expenses: DIVIDEND/INTEREST MEMBE
total $1,437,199
-
24b · Other expenses: LOAN SERVICING EXPENSE
total $554,896
-
24c · Other expenses: PROVISION FOR LOAN LOSS
total $193,206
-
24d · Other expenses: MISCELLANEOUS OPERTING
total $49,504
-
24e · All other expenses
total $9,113
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $245,720 · end of year $181,177
-
2 · Savings and temporary cash investments
beginning of year $3,376,329 · end of year $8,215,061
-
7 · Other notes and loans receivable
beginning of year $65,730,038 · end of year $70,864,446
-
10a · Land, buildings and equipment: cost or other basis
$2,555,927
-
10b · Land, buildings and equipment: accumulated depreciation
$1,142,486
-
10c · Land, buildings and equipment, net
beginning of year $1,451,495 · end of year $1,413,441
-
12 · Investments: other securities
beginning of year $23,449,592 · end of year $20,547,767
-
15 · Other assets
beginning of year $5,050,428 · end of year $3,815,043
-
17 · Accounts payable and accrued expenses
beginning of year $1,219,884 · end of year $1,208,590
-
21 · Escrow or custodial account liability
beginning of year $201,753 · end of year $192,898
-
25 · Other liabilities
beginning of year $85,821,407 · end of year $90,894,323
-
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 $1,244,413 · end of year $0
-
31 · Retained earnings, endowment or other funds
beginning of year $10,816,145 · end of year $12,741,124
Mission and programs · 2023
Mission
TO PROMOTE THRIFT AND PROVIDE LOWER COST CREDIT TO THE MEMBERS OF THE CREDIT UNION. TO PROMOTE THRIFT AMONG MEMBERS BY AFFORDING THEM THE OPPORTUNITY TO ACCUMULATE PAYMENTS ON SHARES AND TO MAKE LOANS FROM THESE SHARES TO ITS MEMBERS.
-
PROVIDE A WIDE VARIETY OF FINANCIAL PRODUCTS AND SERVICES TO MEMBERS OFTHE CREDIT UNION. OVER 5,300 MEMBERS SERVED.
As filed on the 2023 return.
Listed in Part VII
-
Richard FlaniganRICHARD FLANIGAN
CHAIR/BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 3
-
Deborah SampsonDEBORAH SAMPSON
VICE CHAIR/BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 3
-
Jennifer BoswellJENNIFER BOSWELL
TREASURER/BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 3
-
Steve SexsonSTEVE SEXSON
SECRETARY/BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 3
-
Allen HarimonALLEN HARIMON
DIRECTOR/BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 3
-
Andrea SuhakaANDREA SUHAKA
DIRECTOR/BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 3
-
Diane LeavesleyDIANE LEAVESLEY
DIRECTOR/BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 3
-
Brandt PetersonBRANDT PETERSON
CEO
- Total calculated
- $201,252
- From this org
- $183,840
- From related orgs
- $0
- Other
- $17,412
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $164,600
- Bonus
- $19,240
- Other
- $0
- Deferred
- $9,486
- Nontaxable benefits
- $7,926
- Filer's total
- $201,252
-
Amber BredensteinAMBER BREDENSTEIN
DIRECTOR OF LENDING
- Total calculated
- $92,773
- From this org
- $83,340
- From related orgs
- $0
- Other
- $9,433
- Hours/week
- 40
-
Karen PadrevitaKAREN PADREVITA
DIRECTOR OF IT & MARKETING
- Total calculated
- $111,247
- From this org
- $90,375
- From related orgs
- $0
- Other
- $20,872
- Hours/week
- 40
-
Jovelyn SisonJOVELYN SISON
DIRECTOR OF MEMBER SERVICE
- Total calculated
- $92,522
- From this org
- $82,740
- From related orgs
- $0
- Other
- $9,782
- 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
- 3 · Compensation committee
- 3 · Independent compensation consultant
- 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 MAINTAINS A 457(F) SUPPLEMENTAL RETIREMENT PLAN THAT CERTAIN STAFF PARTICIPATE IN. FOR CALENDAR YEAR 2023, THERE WERE NO ACCRUALS OR PAYOUTS OF BENEFITS.
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
- 15 November 2024
- IRS schema version
- 2023v5.1
- Source object
- 202423209349326152
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