Form 990 for tax year 2023
Filed by CREDIT UNIONS CHARTERED IN THE STATE OF COLORADO.
Totals
- Total revenue
- $6,727,230
- Total expenses
- $6,249,351
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $5,306,772
- Investment income
- $1,271,659
- Other revenue
- $148,799
- Total assets, end of year
- $115,118,280
- Total liabilities, end of year
- $102,909,601
- Net assets or fund balances, end of year
- $12,208,679
- 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 $3,679,672 · related or exempt $3,679,672
-
2b · Program service revenue: FEES AND OTHER CHARGES
total $884,105 · related or exempt $884,105
-
2c · Program service revenue: OTHER INCOME
total $742,995 · related or exempt $742,995
-
3 · Investment income
total $1,271,659 · excluded $1,271,659
-
11a · Other revenue: NON-MEMBER ATM FEES
total $148,799 · unrelated business $148,799
-
11e · Other revenue, total
$148,799
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $445,576
-
7 · Other salaries and wages
total $1,418,919
-
8 · Pension plan contributions
total $59,457
-
9 · Other employee benefits
total $168,586
-
10 · Payroll taxes
total $160,675
-
11b · Fees: legal
total $3,532
-
11c · Fees: accounting
total $48,000
-
11g · Fees: other
total $242,108
-
12 · Advertising and promotion
total $115,030
-
13 · Office expenses
total $849,551
-
16 · Occupancy
total $333,257
-
17 · Travel
total $217
-
19 · Conferences, conventions and meetings
total $60,865
-
22 · Depreciation, depletion and amortization
total $253,010
-
24a · Other expenses: INTEREST/DIVIDENDS PAID
total $984,608
-
24b · Other expenses: PROVISION FOR LOAN LOSS
total $553,021
-
24c · Other expenses: OPERATING FEES
total $313,308
-
24d · Other expenses: LOAN SERVICING
total $239,631
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $923,872 · end of year $1,058,447
-
2 · Savings and temporary cash investments
beginning of year $4,926,498 · end of year $11,605,593
-
7 · Other notes and loans receivable
beginning of year $61,857,118 · end of year $60,968,005
-
10a · Land, buildings and equipment: cost or other basis
$7,569,955
-
10b · Land, buildings and equipment: accumulated depreciation
$4,944,230
-
10c · Land, buildings and equipment, net
beginning of year $2,716,432 · end of year $2,625,725
-
11 · Investments: publicly traded securities
beginning of year $15,822,072 · end of year $9,351,218
-
12 · Investments: other securities
beginning of year $28,047,709 · end of year $24,254,209
-
15 · Other assets
beginning of year $5,472,145 · end of year $5,255,083
-
17 · Accounts payable and accrued expenses
beginning of year $1,181,670 · end of year $1,939,365
-
25 · Other liabilities
beginning of year $106,561,813 · end of year $100,970,236
-
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 $1,482,212 · end of year $1,482,212
-
31 · Retained earnings, endowment or other funds
beginning of year $10,540,151 · end of year $10,726,467
Mission and programs · 2023
Mission
TO PROMOTE THRIFT AND 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 TO MAKE LOANS FROM THESE SHARES TO ITS MEMBERS.
-
PROVIDE A WIDE VARIETY OF FINANCIAL PRODUCTS AND SERVICES TO MEMBERS OFTHE CREDIT UNION. OVER 12,000 MEMBERS SERVED.
As filed on the 2023 return.
Listed in Part VII
-
Ted CookTED COOK
BOARD CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
Michael ParlapianoMICHAEL PARLAPIANO
BOARD VICE CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
Ava DeherreraAVA DEHERRERA
BOARD SECRETARY/TREASURER
- Total calculated
- $0
- Hours/week
- 2
-
Katie HeurermannKATIE HEURERMANN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Michael JollyMICHAEL JOLLY
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Theodore LopezTHEODORE LOPEZ
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Don TrujilloDON TRUJILLO
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Vanessa TrexelVANESSA TREXEL
CEO/PRESIDENT
- Total calculated
- $156,742
- From this org
- $136,290
- From related orgs
- $0
- Other
- $20,452
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $114,164
- Bonus
- $22,126
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $20,452
- Filer's total
- $156,742
-
Ernestine TrujilloERNESTINE TRUJILLO
VP OF OPERATIONS
- Total calculated
- $86,437
- From this org
- $73,912
- From related orgs
- $0
- Other
- $12,525
- Hours/week
- 40
-
Shari KrasovicSHARI KRASOVIC
VP OF HUMAN RESOURCES
- Total calculated
- $73,744
- From this org
- $62,838
- From related orgs
- $0
- Other
- $10,906
- Hours/week
- 40
-
Lita SandersLITA SANDERS
VP OF FINANCE
- Total calculated
- $83,789
- From this org
- $77,927
- From related orgs
- $0
- Other
- $5,862
- Hours/week
- 40
-
Kelly SchermerhornKELLY SCHERMERHORN
VP OF MEMBER EXPERIENCE
- Total calculated
- $44,866
- From this org
- $32,595
- From related orgs
- $0
- Other
- $12,271
- 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 committee
- 3 · Independent compensation consultant
- 3 · Written employment contract
- 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
The filer's explanations (Part III)
- PART I, LINE 3
- CEO COMPENSATION IS DETERMINED BY THE BOARD OF DIRECTORS. THE CEO'S SALARY IS ADJUSTED BASED ON EXPERIENCE AND FINANCIAL CONDITION OF THE CREDIT UNION. YEARLY PERFORMANCE REVIEWS OF THE CEO ARE CONDUCTED BY THE BOARD OF DIRECTORS.
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
- 12 November 2024
- IRS schema version
- 2023v5.1
- Source object
- 202433189349311743
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
The source document this was parsed from is served over the API, which is where bulk and document access live.