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Nonprofiteer
← CREDIT UNIONS CHARTERED IN THE STATE OF COLORADO

Form 990 for tax year 2023

Filed by CREDIT UNIONS CHARTERED IN THE STATE OF COLORADO.

Totals

Total revenue
$5,318,804
Total expenses
$4,293,663
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$4,461,975
Investment income
$856,829
Other revenue
$0
Total assets, end of year
$116,839,788
Total liabilities, end of year
$104,580,893
Net assets or fund balances, end of year
$12,258,895
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

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 on Loans

    total $3,813,217 · excluded $3,813,217

  • 2b · Program service revenue: Fee Income

    total $324,609 · excluded $324,609

  • 2c · Program service revenue: Miscellaneous Income

    total $324,149 · excluded $324,149

  • 3 · Investment income

    total $856,829 · excluded $856,829

  • 8c · Net income from fundraising events

    total $0

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $299,837

  • 7 · Other salaries and wages

    total $993,239

  • 8 · Pension plan contributions

    total $53,864

  • 9 · Other employee benefits

    total $121,880

  • 10 · Payroll taxes

    total $107,237

  • 11b · Fees: legal

    total $1,980

  • 11c · Fees: accounting

    total $32,400

  • 12 · Advertising and promotion

    total $27,817

  • 13 · Office expenses

    total $477,504

  • 16 · Occupancy

    total $119,870

  • 19 · Conferences, conventions and meetings

    total $14,813

  • 22 · Depreciation, depletion and amortization

    total $100,340

  • 23 · Insurance

    total $30,969

  • 24a · Other expenses: Dividend Expense

    total $1,214,540

  • 24b · Other expenses: Provision for Loan Losses

    total $340,000

  • 24c · Other expenses: Data Processing Expense

    total $236,676

  • 24d · Other expenses: Loan Servicing Expense

    total $59,867

  • 24e · All other expenses

    total $60,830

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $567,451 · end of year $638,433

  • 2 · Savings and temporary cash investments

    beginning of year $28,560,700 · end of year $26,931,163

  • 4 · Accounts receivable

    beginning of year $82,217 · end of year $139,759

  • 7 · Other notes and loans receivable

    beginning of year $84,036,956 · end of year $85,628,239

  • 9 · Prepaid expenses and deferred charges

    beginning of year $966,790 · end of year $811,327

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

    $2,642,398

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

    $2,004,111

  • 10c · Land, buildings and equipment, net

    beginning of year $715,901 · end of year $638,287

  • 15 · Other assets

    beginning of year $2,530,735 · end of year $2,052,580

  • 17 · Accounts payable and accrued expenses

    beginning of year $335,491 · end of year $246,114

  • 25 · Other liabilities

    beginning of year $105,891,505 · end of year $104,334,779

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $1,660,749 · end of year $1,660,749

  • 31 · Retained earnings, endowment or other funds

    beginning of year $9,573,005 · end of year $10,598,146

Mission and programs · 2023

Mission

Member-owned and controlled financial cooperative. People helping people philosophy. Our mission is to provide our members with a full range of financial services while maintaining our safety & soundness.

Activities or mission (Part I)

State Chartered Credit Union

  • N/A

  • N/A

  • N/A

As filed on the 2023 return.

Listed in Part VII

  • Kathy A Pullara

    Board Chairperson

    Total calculated
    $0
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    not reported
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    not reported

  • Aura E Patterson

    Board Secretary

    Total calculated
    $0
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    not reported
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    not reported

  • Jack G Menard

    Board Treasurer

    Total calculated
    $0
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    not reported
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    not reported

  • Michael B Cliett

    Board Vice Chairperson

    Total calculated
    $0
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    not reported
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    not reported

  • Brett M Raitz

    PresidentCEO

    Total calculated
    $168,295
    From this org
    $160,747
    From related orgs
    $0
    Other
    $7,548
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $146,386
    Bonus
    $11,407
    Other
    $2,954
    Deferred
    $7,548
    Nontaxable benefits
    $7,198
    Filer's total
    $175,493

  • Heather R Gauthier

    Vice President

    Total calculated
    $135,616
    From this org
    $129,692
    From related orgs
    $0
    Other
    $5,924
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $115,299
    Bonus
    $12,037
    Other
    $2,356
    Deferred
    $5,924
    Nontaxable benefits
    $2,201
    Filer's total
    $137,817

  • Mary L Killoran

    Director

    Total calculated
    $0
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    not reported
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    not reported

  • Anjoleen Himes

    Director

    Total calculated
    $0
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    not reported
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    not reported

  • Kevin M Kierney

    Operations Manager

    Total calculated
    $114,662
    From this org
    $109,550
    From related orgs
    $0
    Other
    $5,112
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $96,570
    Bonus
    $10,970
    Other
    $2,010
    Deferred
    $5,112
    Nontaxable benefits
    $4,264
    Filer's total
    $118,926

  • Sandra L Washburn

    Director

    Total calculated
    $0
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    not reported
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    not reported

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 survey or study
  • 3 · Approval by the board or compensation committee
  • 6a · Pay contingent on this organization's net earnings

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
  • 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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
8 May 2024
IRS schema version
2023v5.0
Source object
202401299349301785

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