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Nonprofiteer
← CREDIT UNIONS IN THE STATE OF WASHINGTON

Form 990 for tax year 2022

Filed by CREDIT UNIONS IN THE STATE OF WASHINGTON.

Totals

Total revenue
$2,450,183
Total expenses
$1,869,452
Contributions and grants received
$0
Grants paid
$11,210
Program service revenue
$2,035,836
Investment income
$414,347
Other revenue
$0
Total assets, end of year
$75,696,409
Total liabilities, end of year
$64,801,836
Net assets or fund balances, end of year
$10,894,573
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: Loan Interest Income

    total $1,470,885 · related or exempt $1,470,885

  • 2b · Program service revenue: Noninterest Operating

    total $235,011 · related or exempt $235,011

  • 2c · Program service revenue: Interchange Income

    total $208,185 · related or exempt $208,185

  • 2d · Program service revenue: Fees and Charges

    total $121,755 · related or exempt $121,755

  • 3 · Investment income

    total $414,347 · excluded $414,347

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $11,210

  • 5 · Compensation of officers, directors and key employees

    total $277,671

  • 7 · Other salaries and wages

    total $408,295

  • 8 · Pension plan contributions

    total $14,253

  • 9 · Other employee benefits

    total $135,766

  • 10 · Payroll taxes

    total $53,959

  • 11b · Fees: legal

    total $4,735

  • 11c · Fees: accounting

    total $39,379

  • 11g · Fees: other

    total $59,812

  • 12 · Advertising and promotion

    total $36,255

  • 13 · Office expenses

    total $49,864

  • 14 · Information technology

    total $91,907

  • 16 · Occupancy

    total $38,726

  • 17 · Travel

    total $44,394

  • 19 · Conferences, conventions and meetings

    total $22,256

  • 20 · Interest

    total $14,468

  • 22 · Depreciation, depletion and amortization

    total $34,373

  • 23 · Insurance

    total $31,480

  • 24a · Other expenses: Dividends Expense

    total $219,109

  • 24b · Other expenses: Debit/Credit Card Expen

    total $151,331

  • 24c · Other expenses: Loan Servicing Expense

    total $97,456

  • 24d · Other expenses: Association Dues

    total $21,344

  • 24e · All other expenses

    total $11,409

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,378,108 · end of year $416,821

  • 2 · Savings and temporary cash investments

    beginning of year $32,829,904 · end of year $12,817,638

  • 7 · Other notes and loans receivable

    beginning of year $40,042,314 · end of year $43,175,881

  • 9 · Prepaid expenses and deferred charges

    beginning of year $55,352 · end of year $131,041

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

    $842,045

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

    $533,293

  • 10c · Land, buildings and equipment, net

    beginning of year $311,519 · end of year $308,752

  • 12 · Investments: other securities

    beginning of year $0 · end of year $17,745,304

  • 15 · Other assets

    beginning of year $1,066,543 · end of year $1,100,972

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,410,295 · end of year $555,054

  • 25 · Other liabilities

    beginning of year $64,959,603 · end of year $64,246,782

  • 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 $10,313,842 · end of year $10,894,573

Mission and programs · 2022

Mission

Improve the quality of life for our members by providing personalized financial services.

Activities or mission (Part I)

To provide affordable credit and financial services to Spokane firefighters and their families.

  • Spokane Firefighters Credit Union provided financial services to approximately 2,366 members including: loans, IRAs, share certificates, share accounts, and share draft accounts.

As filed on the 2022 return.

Listed in Part VII

  • Gayle Furness

    Chief Executive Officer, Treasurer

    Total calculated
    $174,833
    From this org
    $167,081
    From related orgs
    $0
    Other
    $7,752
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $128,005
    Bonus
    $39,076
    Other
    $0
    Deferred
    $7,752
    Nontaxable benefits
    $0
    Filer's total
    $174,833

  • William Logan

    Vice President of Lending, Secretary

    Total calculated
    $102,837
    From this org
    $97,016
    From related orgs
    $0
    Other
    $5,821
    Hours/week
    40

  • Bill Gonzalez

    Board Chair

    Total calculated
    $0
    Hours/week
    2

  • Ken Miller

    Board Vice Chair

    Total calculated
    $0
    Hours/week
    2

  • Ervin C Williams

    Board Chair (thru Oct. 2022)

    Total calculated
    $0
    Hours/week
    1

  • Bob Green

    Director

    Total calculated
    $0
    Hours/week
    1

  • Roger Libby

    Director

    Total calculated
    $0
    Hours/week
    1

  • Mike Thompson

    Director

    Total calculated
    $0
    Hours/week
    1

  • Kevin Smith

    Director

    Total calculated
    $0
    Hours/week
    1

  • Scott Himelspach

    Director (from Nov. 2022)

    Total calculated
    $0
    Hours/week
    1

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 · 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

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
2022
Filed
13 November 2023
IRS schema version
2022v5.0
Source object
202313189349306046

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