Form 990 for tax year 2023
Filed by CREDIT UNIONS IN THE STATE OF WASHINGTON.
Totals
- Total revenue
- $6,400,206
- Total expenses
- $4,688,670
- Contributions and grants received
- $0
- Grants paid
- $9,850
- Program service revenue
- $5,999,469
- Investment income
- $400,737
- Other revenue
- $0
- Total assets, end of year
- $121,032,916
- Total liabilities, end of year
- $101,785,132
- Net assets or fund balances, end of year
- $19,247,784
- Program services expenses (Part IX)
- $0
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $0
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: Commercial & Consumer Loan Interest
total $5,878,289 · related or exempt $5,878,289 · unrelated business $0 · excluded $0
-
2b · Program service revenue: Member Fee Income
total $89,158 · related or exempt $89,158 · unrelated business $0 · excluded $0
-
2c · Program service revenue: Credit Card Interchange Income
total $19,894 · related or exempt $19,894 · unrelated business $0 · excluded $0
-
2d · Program service revenue: Other Operating Income
total $12,128 · related or exempt $12,128 · unrelated business $0 · excluded $0
-
2f · All other program service revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
3 · Investment income
total $420,758 · related or exempt $420,758 · unrelated business $0 · excluded $0
-
4 · Income from investment of tax-exempt bond proceeds
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
5 · Royalties
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
6c · Rental income or loss
real property $0 · personal property $0
-
7a · Gross sales of assets other than inventory
securities $0 · other assets $9,250
-
7b · Less cost or other basis and sales expenses
securities $0 · other assets $29,271
-
7c · Gain or loss
securities $0 · other assets -$20,021
-
7d · Net gain or loss
total -$20,021 · related or exempt -$20,021 · unrelated business $0 · excluded $0
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $5,350
-
2 · Grants to domestic individuals
total $4,500
-
3 · Grants to foreign organizations and individuals
total $0
-
5 · Compensation of officers, directors and key employees
total $805,471
-
7 · Other salaries and wages
total $545,212
-
8 · Pension plan contributions
total $12,377
-
9 · Other employee benefits
total $78,308
-
10 · Payroll taxes
total $102,220
-
11b · Fees: legal
total $4,095
-
11c · Fees: accounting
total $16,490
-
11g · Fees: other
total $61,680
-
12 · Advertising and promotion
total $42,469
-
13 · Office expenses
total $84,845
-
14 · Information technology
total $177,941
-
16 · Occupancy
total $79,263
-
17 · Travel
total $28,284
-
19 · Conferences, conventions and meetings
total $35,308
-
20 · Interest
total $141,764
-
22 · Depreciation, depletion and amortization
total $21,840
-
23 · Insurance
total $30,708
-
24a · Other expenses: Member & Nonmember Dividend Expense
total $2,238,567
-
24b · Other expenses: Provision for Credit Loss Expense
total $142,900
-
24c · Other expenses: Loan Servicing Expense
total $80,072
-
24d · Other expenses: Loan Origination Direct Costs
total -$73,990
-
24e · All other expenses
total $22,996
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $84,544 · end of year $80,441
-
2 · Savings and temporary cash investments
beginning of year $5,802,363 · end of year $9,251,982
-
7 · Other notes and loans receivable
beginning of year $86,642,790 · end of year $102,577,653
-
9 · Prepaid expenses and deferred charges
beginning of year $111,700 · end of year $117,157
-
10a · Land, buildings and equipment: cost or other basis
$295,865
-
10b · Land, buildings and equipment: accumulated depreciation
$127,301
-
10c · Land, buildings and equipment, net
beginning of year $72,433 · end of year $168,564
-
11 · Investments: publicly traded securities
end of year $1,481,978
-
13 · Investments: program-related
beginning of year $9,615,105 · end of year $6,200,738
-
15 · Other assets
beginning of year $1,332,005 · end of year $1,154,403
-
17 · Accounts payable and accrued expenses
beginning of year $204,967 · end of year $172,388
-
19 · Deferred revenue
beginning of year $6,797 · end of year $6,393
-
25 · Other liabilities
beginning of year $85,912,928 · end of year $101,606,351
-
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 $17,536,248 · end of year $19,247,784
Mission and programs · 2023
Mission
To provide services to members mandated in the Credit Union Act and Charter, including providing members the opportunity to assist other members. The purpose of this Credit Union is to promote thrift among its members and to create a source of credit for them at legitimate rates of interest for provident, productive and educational purposes.
Activities or mission (Part I)
To provide services to members mandated in the Credit Union Act and Charter, including providing members the opportunity to assist other members.
-
WCLA Credit Union is a section 501(c)(14) cooperative-owned, state-chartered credit union that provides financial services, including loan and share accounts, to its approximately 1300 members, similar to federally-chartered credit unions.
As filed on the 2023 return.
Listed in Part VII
-
Brian Bahs
CEO
- Total calculated
- $343,655
- From this org
- $293,138
- From related orgs
- $0
- Other
- $50,517
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $198,035
- Bonus
- $61,780
- Other
- $33,324
- Deferred
- $34,064
- Nontaxable benefits
- $16,453
- Filer's total
- $343,656
-
Charles Thompson
President
- Total calculated
- $216,303
- From this org
- $177,461
- From related orgs
- $0
- Other
- $38,842
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $162,461
- Bonus
- $15,000
- Other
- $0
- Deferred
- $25,373
- Nontaxable benefits
- $13,469
- Filer's total
- $216,303
-
Casey Smith
Senior Loan Officer
- Total calculated
- $194,913
- From this org
- $166,280
- From related orgs
- $0
- Other
- $28,633
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $147,650
- Bonus
- $17,250
- Other
- $1,380
- Deferred
- $12,893
- Nontaxable benefits
- $15,741
- Filer's total
- $194,914
-
Teresa Carlson
Accounting/Operations Manager
- Total calculated
- $182,422
- From this org
- $154,700
- From related orgs
- $0
- Other
- $27,722
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $142,017
- Bonus
- $12,683
- Other
- $0
- Deferred
- $11,375
- Nontaxable benefits
- $16,347
- Filer's total
- $182,422
-
Brandon Dunnaback
Loan Officer
- Total calculated
- $145,519
- From this org
- $115,549
- From related orgs
- $0
- Other
- $29,970
- Hours/week
- 40
-
Dan Richart
Board Chairman-Retired
- Total calculated
- $0
- Hours/week
- 1
-
Roger Smith
Board Vice Chair
- Total calculated
- $0
- Hours/week
- 1
-
Greg Horsley
Board Treasurer/Board Chair
- Total calculated
- $0
- Hours/week
- 1
-
Dan Kipp
Board Member/Director-Retired
- Total calculated
- $0
- Hours/week
- 1
-
Edward Gould
Board Member/Director/Treas/Sec
- Total calculated
- $0
- Hours/week
- 1
-
Blair Stadin
Board Member/Director
- Total calculated
- $0
- Hours/week
- 1
-
Rob Allen
Board Member/Director
- 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 · Independent compensation consultant
- 3 · Written employment contract
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
- 4a · Severance or change-of-control payment
Answered no
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
The filer's explanations (Part III)
- Schedule J, Part I, Line 3
- All of the items indicated were used to assist during hte CEO's annual compensation review.
- Schedule J, Part I, Line 4
- The current CEO received a succession award for the finding and hiring of the CEO successor.
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
- 28 August 2024
- IRS schema version
- 2023v5.0
- Source object
- 202412419349302101
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.