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← CREDIT UNIONS IN THE STATE OF WASHINGTON

Form 990 for tax year 2023

Filed by CREDIT UNIONS IN THE STATE OF WASHINGTON.

Totals

Total revenue
$4,670,496
Total expenses
$4,626,144
Contributions and grants received
$0
Grants paid
$2,874
Program service revenue
$4,017,412
Investment income
$573,330
Other revenue
$79,754
Total assets, end of year
$76,251,466
Total liabilities, end of year
$71,798,543
Net assets or fund balances, end of year
$4,452,923
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 EARNED ON LOA

    total $2,883,760 · related or exempt $2,883,760

  • 2b · Program service revenue: FEES & CHARGES

    total $604,595 · related or exempt $604,595

  • 2c · Program service revenue: INTERCHANGE

    total $529,057 · related or exempt $503,779 · unrelated business $25,278

  • 3 · Investment income

    total $602,568 · excluded $602,568

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

    other assets $29,238

  • 7c · Gain or loss

    other assets -$29,238

  • 7d · Net gain or loss

    total -$29,238 · related or exempt -$29,238

  • 11a · Other revenue: MISC. REVENUE-RELATED-

    total $49,152 · related or exempt $49,152

  • 11b · Other revenue: LIFE, DISB AND INS INC

    total $30,602 · related or exempt $3,833 · unrelated business $26,769

  • 11e · Other revenue, total

    $79,754

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,874

  • 5 · Compensation of officers, directors and key employees

    total $163,707

  • 7 · Other salaries and wages

    total $1,347,796

  • 9 · Other employee benefits

    total $159,292

  • 10 · Payroll taxes

    total $24,736

  • 11b · Fees: legal

    total $460

  • 11c · Fees: accounting

    total $17,500

  • 11g · Fees: other

    total $25,444

  • 12 · Advertising and promotion

    total $343,807

  • 13 · Office expenses

    total $426,208

  • 14 · Information technology

    total $170,004

  • 16 · Occupancy

    total $94,633

  • 17 · Travel

    total $68,865

  • 19 · Conferences, conventions and meetings

    total $5,977

  • 20 · Interest

    total $39,582

  • 22 · Depreciation, depletion and amortization

    total $119,711

  • 23 · Insurance

    total $27,907

  • 24a · Other expenses: DIVIDENDS PAID TO MEMBE

    total $559,487

  • 24b · Other expenses: PROVISION FOR LOAN LOSS

    total $378,248

  • 24c · Other expenses: OTHER EXPENSES

    total $289,190

  • 24d · Other expenses: VISA INTERCHANGE

    total $285,651

  • 24e · All other expenses

    total $75,065

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $449,314 · end of year $519,012

  • 2 · Savings and temporary cash investments

    beginning of year $3,381,152 · end of year $4,541,210

  • 4 · Accounts receivable

    beginning of year $200 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $39,858,069 · end of year $40,836,795

  • 9 · Prepaid expenses and deferred charges

    beginning of year $104,856 · end of year $92,412

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

    $5,759,714

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

    $2,079,548

  • 10c · Land, buildings and equipment, net

    beginning of year $3,765,850 · end of year $3,680,166

  • 11 · Investments: publicly traded securities

    beginning of year $26,651,635 · end of year $23,282,292

  • 12 · Investments: other securities

    beginning of year $1,245,000 · end of year $249,000

  • 13 · Investments: program-related

    beginning of year $84,243 · end of year $84,243

  • 15 · Other assets

    beginning of year $2,840,644 · end of year $2,966,336

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,203,741 · end of year $1,257,798

  • 25 · Other liabilities

    beginning of year $73,157,871 · end of year $70,540,745

  • 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 $4,019,351 · end of year $4,452,923

Mission and programs · 2023

Mission

MAKING A DIFFERENCE THROUGH QUALITY SERVICE, VALUABLE PRODUCTS, AND FINANCIAL EDUCATION.

  • MUTUAL, MEMBERSHIP BENEFIT PROGRAMS, GENERAL/OTHER: PROVIDED ITS 5,045 MEMBERS THE OPPORTUNITY FOR SAVINGS, DEPOSIT, LOANS, AND OTHER FINANCIAL SERVICES. GRANTED 1,223 LOANS TOTALING $12,894,101 TO ITS MEMBERS DURING 2023.

As filed on the 2023 return.

Listed in Part VII

  • JIM SHERRY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • MIKE RICCHIO

    BOARD TREASURER

    Total calculated
    $0
    Hours/week
    1

  • SCOTT COLLINS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JOHN NISPEL

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • SUSAN GIRSCH

    CHAIR OF BOARD

    Total calculated
    $0
    Hours/week
    1.5

  • AMY TIEMEYER

    VICE CHAIR OF BOARD

    Total calculated
    $0
    Hours/week
    1

  • EARLENE FANTZ

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JOHNPAUL MCGEE

    PRESIDENT/CEO

    Total calculated
    $184,989
    From this org
    $163,707
    From related orgs
    $0
    Other
    $21,282
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $160,000
    Bonus
    $3,017
    Other
    $690
    Deferred
    $14,734
    Nontaxable benefits
    $6,548
    Filer's total
    $184,989

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

  • 2 · Substantiation required before reimbursing expenses
  • 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

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
11 July 2024
IRS schema version
2023v5.1
Source object
202421989349301667

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