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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
$20,391,628
Total expenses
$18,577,805
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$18,639,166
Investment income
$1,747,030
Other revenue
$5,432
Total assets, end of year
$394,583,842
Total liabilities, end of year
$362,605,558
Net assets or fund balances, end of year
$31,978,284
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 $14,720,007 · related or exempt $14,720,007

  • 2b · Program service revenue: OTHER INCOME

    total $2,147,928 · related or exempt $2,147,928

  • 2c · Program service revenue: FEES AND OTHER CHARGES TO MEMBERS

    total $1,771,231 · related or exempt $1,771,231

  • 3 · Investment income

    total $1,792,260 · related or exempt $1,792,260

  • 7a · Gross sales of assets other than inventory

    other assets $3,109,278

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

    other assets $3,154,508

  • 7c · Gain or loss

    other assets -$45,230

  • 7d · Net gain or loss

    total -$45,230 · related or exempt -$45,230

  • 11a · Other revenue: ATM FEES CHARGED TO NON-MEMBERS

    total $5,432 · unrelated business $5,432

  • 11e · Other revenue, total

    $5,432

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $1,340,785

  • 7 · Other salaries and wages

    total $4,063,362

  • 8 · Pension plan contributions

    total $207,965

  • 9 · Other employee benefits

    total $704,921

  • 10 · Payroll taxes

    total $418,236

  • 11b · Fees: legal

    total $16,344

  • 11c · Fees: accounting

    total $89,228

  • 11g · Fees: other

    total $2,289,204

  • 12 · Advertising and promotion

    total $794,010

  • 13 · Office expenses

    total $391,032

  • 16 · Occupancy

    total $784,069

  • 22 · Depreciation, depletion and amortization

    total $471,255

  • 23 · Insurance

    total $46,018

  • 24a · Other expenses: INTEREST/DIVIDENDS PAID

    total $4,336,111

  • 24b · Other expenses: LOAN SERVICING

    total $1,186,783

  • 24c · Other expenses: CREDIT LOSS EXPENSE

    total $1,003,909

  • 24d · Other expenses: MISCELLANEOUS EXPENSES

    total $394,427

  • 24e · All other expenses

    total $40,146

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $669,728 · end of year $713,054

  • 2 · Savings and temporary cash investments

    beginning of year $29,500,283 · end of year $37,260,044

  • 5 · Loans and receivables from officers and key people

    beginning of year $3,325,411 · end of year $6,395,784

  • 7 · Other notes and loans receivable

    beginning of year $295,080,027 · end of year $310,559,458

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

    $9,369,207

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

    $6,215,746

  • 10c · Land, buildings and equipment, net

    beginning of year $3,425,440 · end of year $3,153,461

  • 12 · Investments: other securities

    beginning of year $33,287,360 · end of year $30,970,753

  • 15 · Other assets

    beginning of year $5,800,245 · end of year $5,531,288

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,666,711 · end of year $3,933,100

  • 24 · Unsecured notes and loans payable

    beginning of year $20,570,600 · end of year $37,070,600

  • 25 · Other liabilities

    beginning of year $317,402,353 · end of year $321,601,858

  • 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 $2,442,564 · end of year $2,442,564

  • 31 · Retained earnings, endowment or other funds

    beginning of year $27,006,266 · end of year $29,535,720

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 MAKE LOANS FROM THESE SHARES TO ITS MEMBERS.

  • PROVIDE A WIDE VARIETY OF FINANCIAL PRODUCTS AND SERVICES TO MEMBERS OF THE CREDIT UNION. OVER 19,000 MEMBERS SERVED.

As filed on the 2023 return.

Listed in Part VII

  • Toni Houck

    CHAIRMAN

    Total calculated
    $24,750
    From this org
    $24,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Dan Sung

    VICE CHAIR

    Total calculated
    $24,000
    From this org
    $24,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Kirsten Johnson

    SECRETARY/TREASURER

    Total calculated
    $26,250
    From this org
    $26,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • David Engle

    BOARD MEMBER

    Total calculated
    $24,000
    From this org
    $24,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Dean Valdez

    BOARD MEMBER

    Total calculated
    $24,000
    From this org
    $24,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Ralph Norman

    BOARD MEMBER

    Total calculated
    $24,000
    From this org
    $24,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Kenneth Hehir

    BOARD MEMBER

    Total calculated
    $24,000
    From this org
    $24,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Tracie Wilcox

    PRESIDENT/CEO

    Total calculated
    $394,836
    From this org
    $356,214
    From related orgs
    $0
    Other
    $38,622
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $302,322
    Bonus
    $53,892
    Other
    $0
    Deferred
    $30,000
    Nontaxable benefits
    $8,622
    Filer's total
    $394,836

  • Janelle Herrera

    VP MARKETING

    Total calculated
    $200,556
    From this org
    $162,381
    From related orgs
    $0
    Other
    $38,175
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $145,258
    Bonus
    $17,123
    Other
    $0
    Deferred
    $14,197
    Nontaxable benefits
    $23,978
    Filer's total
    $200,556

  • Chris Bokovitz

    CIO

    Total calculated
    $197,093
    From this org
    $171,772
    From related orgs
    $0
    Other
    $25,321
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $154,776
    Bonus
    $16,996
    Other
    $0
    Deferred
    $8,439
    Nontaxable benefits
    $16,882
    Filer's total
    $197,093

  • Amy Phillips

    CHIEF FINANCIAL OFFICER

    Total calculated
    $229,386
    From this org
    $194,409
    From related orgs
    $0
    Other
    $34,977
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $174,925
    Bonus
    $19,484
    Other
    $0
    Deferred
    $25,789
    Nontaxable benefits
    $9,188
    Filer's total
    $229,386

  • Laurie Jensen

    MEMBER ENGAGEMENT/RETAIL D

    Total calculated
    $187,306
    From this org
    $155,587
    From related orgs
    $0
    Other
    $31,719
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $139,489
    Bonus
    $16,098
    Other
    $0
    Deferred
    $23,158
    Nontaxable benefits
    $8,561
    Filer's total
    $187,306

  • Tony Nieto

    VP OF LENDING

    Total calculated
    $203,752
    From this org
    $171,278
    From related orgs
    $0
    Other
    $32,474
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $153,260
    Bonus
    $18,018
    Other
    $0
    Deferred
    $8,489
    Nontaxable benefits
    $23,985
    Filer's total
    $203,752

  • Daisy Romo

    EXECUTIVE AT LARGE

    Total calculated
    $191,953
    From this org
    $176,015
    From related orgs
    $0
    Other
    $15,938
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $148,015
    Bonus
    $28,000
    Other
    $0
    Deferred
    $7,365
    Nontaxable benefits
    $8,573
    Filer's total
    $191,953

  • Gene Lamansky

    CONTROLLER

    Total calculated
    $186,505
    From this org
    $152,202
    From related orgs
    $0
    Other
    $34,303
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $139,595
    Bonus
    $12,607
    Other
    $0
    Deferred
    $15,825
    Nontaxable benefits
    $18,478
    Filer's total
    $186,505

  • Verna Kay

    VP OF CULTURAL STEWARDSHIP

    Total calculated
    $138,963
    From this org
    $123,874
    From related orgs
    $0
    Other
    $15,089
    Hours/week
    40

  • Nick King

    DIRECTOR OF INFORMATION SYSTEMS

    Total calculated
    $126,869
    From this org
    $110,999
    From related orgs
    $0
    Other
    $15,870
    Hours/week
    40

  • Dawn Sanchez

    DIRECTOR OF STRATEGIC IMPLEMENTATIONS

    Total calculated
    $131,385
    From this org
    $111,791
    From related orgs
    $0
    Other
    $19,594
    Hours/week
    40

  • Tyler Richards

    DIRECTOR OF CONSUMER LENDING

    Total calculated
    $127,557
    From this org
    $111,827
    From related orgs
    $0
    Other
    $15,730
    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 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.

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.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • ON TAP INSURANCE AGENCY INC

    C · INSURANCE AGENCY · CO · 100% owned · share of income $64,614 · share of assets $110,371 · controlled entity

    Directly controlled by CREDIT UNIONS CHARTERED IN STATE OF CO 85 ON TAP CREDIT UNION

Provenance

Return type
form_990
Tax year
2023
Filed
12 November 2024
IRS schema version
2023v5.1
Source object
202403209349308625

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