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Nonprofiteer
← COASTHILLS CREDIT UNION

Form 990 for tax year 2023

Filed by COASTHILLS CREDIT UNION.

What the amendment changed

Compared with the return it replaced , filed 16 October 2024. matched by us Only the Part I totals and the names listed in Part VII are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Total revenue
$95,869,457 changed to $4,821,474
Total expenses
$91,804,133 changed to $5,045,642
Contributions and grants received
$2,911,839 changed to $0
Grants paid
$379,162 changed to $48,750
Program service revenue
$85,854,598 changed to $4,452,216
Investment income
$7,518,751 changed to $411,427
Other revenue
-$415,731 changed to -$42,169
Total assets, end of year
$1,783,506,274 changed to $0
Total liabilities, end of year
$1,652,452,034 changed to $0
Net assets or fund balances, end of year
$131,054,240 changed to $0

Listed only on the earlier return

  • Bruce A Altheide
  • Catherine Amundson
  • Cheryl Garnsey
  • Daniel Walls Thru 42523
  • David L Salm Thru 71923
  • Edwin Hwang
  • James Ledford
  • Joesph Bonner
  • Pamela Rasmussen
  • Scott Olson
  • Scott T Doi
  • Timothy Jensen Thru 9823
  • Victor Jon Jasper

Totals

Total revenue
$4,821,474
Total expenses
$5,045,642
Contributions and grants received
$0
Grants paid
$48,750
Program service revenue
$4,452,216
Investment income
$411,427
Other revenue
-$42,169
Total assets, end of year
$0
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$0
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 MEMBERS

    total $3,506,535 · related or exempt $3,506,535

  • 2b · Program service revenue: INTERCHANGE INCOME

    total $323,847 · related or exempt $323,847

  • 2c · Program service revenue: FEES AND CHARGES

    total $235,827 · related or exempt $227,038 · unrelated business $8,789

  • 2d · Program service revenue: COURTESY PAY PROGRAM FEES

    total $161,257 · related or exempt $161,257

  • 2e · Program service revenue: OTHER NONINTEREST INCOME

    total $126,684 · related or exempt $126,684

  • 2f · All other program service revenue

    total $98,066 · related or exempt $97,439 · unrelated business $627

  • 3 · Investment income

    total $483,079 · excluded $483,079

  • 6a · Gross rents

    real property $32,114

  • 6b · Less rental expenses

    real property $74,283

  • 6c · Rental income or loss

    real property -$42,169

  • 6d · Net rental income or loss

    total -$42,169 · excluded -$42,169

  • 7a · Gross sales of assets other than inventory

    other assets $1,285

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

    other assets $72,937

  • 7c · Gain or loss

    other assets -$71,652

  • 7d · Net gain or loss

    total -$71,652 · excluded -$71,652

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $48,750

  • 4 · Benefits paid to or for members

    total $1,164,799

  • 5 · Compensation of officers, directors and key employees

    total $95,524

  • 7 · Other salaries and wages

    total $1,023,633

  • 8 · Pension plan contributions

    total $63,160

  • 9 · Other employee benefits

    total $348,826

  • 10 · Payroll taxes

    total $109,195

  • 11b · Fees: legal

    total $24,460

  • 11c · Fees: accounting

    total $23,212

  • 11g · Fees: other

    total $130,886

  • 12 · Advertising and promotion

    total $6,906

  • 13 · Office expenses

    total $144,422

  • 14 · Information technology

    total $143,915

  • 16 · Occupancy

    total $146,779

  • 17 · Travel

    total $29,217

  • 19 · Conferences, conventions and meetings

    total $22,501

  • 20 · Interest

    total $419,994

  • 22 · Depreciation, depletion and amortization

    total $109,801

  • 23 · Insurance

    total $24,877

  • 24a · Other expenses: PROVISION FOR LOAN LOSS

    total $474,029

  • 24b · Other expenses: PROCESSING EXPENSES

    total $229,907

  • 24c · Other expenses: REMOTE ACCESS FEES

    total $143,416

  • 24d · Other expenses: MEMBER EXPENSES

    total $63,135

  • 24e · All other expenses

    total $54,298

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $24,624,879 · end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $100,062,952 · end of year $0

  • 3 · Pledges and grants receivable

    end of year $0

  • 4 · Accounts receivable

    beginning of year $2,096,711 · end of year $0

  • 5 · Loans and receivables from officers and key people

    beginning of year $16,803,848 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $1,265,471,456 · end of year $0

  • 8 · Inventories for sale or use

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,101,402 · end of year $0

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

    $0

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $43,213,423 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $49,672,846 · end of year $0

  • 12 · Investments: other securities

    beginning of year $223,051,124 · end of year $0

  • 13 · Investments: program-related

    end of year $0

  • 14 · Intangible assets

    end of year $0

  • 15 · Other assets

    beginning of year $56,407,633 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $10,899,769 · end of year $0

  • 18 · Grants payable

    end of year $0

  • 19 · Deferred revenue

    end of year $0

  • 20 · Tax-exempt bond liabilities

    end of year $0

  • 21 · Escrow or custodial account liability

    end of year $0

  • 22 · Loans and payables to officers and key people

    end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $207,500,000 · end of year $0

  • 24 · Unsecured notes and loans payable

    end of year $0

  • 25 · Other liabilities

    beginning of year $1,434,052,265 · end of year $0

  • 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 $131,054,240 · end of year $0

Mission and programs · 2023

Mission

MAKING A POSITIVE DIFFERENCE IN OUR NEIGHBORS' LIVES.

Activities or mission (Part I)

MAKING A POSITIVE DIFFERENCE IN OUR NEIGHBORS' LIVES BY SERVING MEMBERS WITH FINANCIAL PRODUCTS AND SUPERIOR CUSTOMER SERVICE TO HELP THEM ACHIEVE THEIR FINANCIAL GOALS.

  • SINCE 1958, COASTHILLS CREDIT UNION HAS BEEN IMPROVING THE FINANCIAL WELL BEING OF CENTRAL COAST FAMILIES WITH LOAN AND DEPOSIT PRODUCTS WITH LOWER FEES AND BETTER RATES THAN MOST BANKS. THE CREDIT UNION SERVES OVER 76,000 MEMBERS IN VENTURA, SANTA BARBARA, SAN LUIS OBISPO, MONTEREY, AND SANTA CRUZ COUNTIES.AS OF JANUARY 19, 2024, COASTHILLS CREDIT UNION TRANSITIONED TO A FEDERAL CREDIT UNION.

As filed on the 2023 return.

Listed in Part VII

  • Paul C Cook

    CEO/PRESIDENT

    Total calculated
    $53,491
    From this org
    $48,466
    From related orgs
    $0
    Other
    $5,025
    Hours/week
    40

  • Dennis Durfee

    EVP, CHIEF FINANCIAL OFFICER

    Total calculated
    $42,033
    From this org
    $37,046
    From related orgs
    $0
    Other
    $4,987
    Hours/week
    40

  • Kristopher L Andrews

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    6

  • Homero Contreras

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    6

  • Jeremy Moreno

    TREASURER

    Total calculated
    $0
    Hours/week
    6

  • Bernard E Jones

    SECRETARY

    Total calculated
    $0
    Hours/week
    6

  • Jeanne Piper

    DIRECTOR

    Total calculated
    $0
    Hours/week
    6

  • R Bruce Coggin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    6

  • Arthur C Scheithaur Jr

    DIRECTOR

    Total calculated
    $0
    Hours/week
    6

  • Earl Murray

    DIRECTOR

    Total calculated
    $0
    Hours/week
    6

  • William H Anders

    DIRECTOR

    Total calculated
    $0
    Hours/week
    6

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.

Grants on this return

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • COASTHILLS WEALTH MANAGEMENT LLC

    MANAGEMENT OF MEMBER INVESTMENT ACCOUNTS · CA · income $0 · assets $0

    Directly controlled by COASTHILLS CREDIT UNION

Assets distributed on this return

Schedule N, as filed: what the organization did with its assets when it liquidated or dissolved, or disposed of more than a quarter of them, and who received them. A recipient with an EIN is usually a successor organization; filers also list expenses such as legal fees here.

Provenance

Return type
form_990
Tax year
2023
Filed
16 December 2024
IRS schema version
2023v5.1
Source object
202443519349301619

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