Skip to content
Nonprofiteer
← WHITEFISH CREDIT UNION ASSOCIATION

Form 990 for tax year 2022

Filed by WHITEFISH CREDIT UNION ASSOCIATION.

Totals

Total revenue
$66,349,817
Total expenses
$59,623,158
Contributions and grants received
$0
Grants paid
$288,043
Program service revenue
$48,310,313
Investment income
$18,006,604
Other revenue
$32,900
Total assets, end of year
$2,160,572,373
Total liabilities, end of year
$2,029,994,446
Net assets or fund balances, end of year
$130,577,927
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

    total $45,904,108 · related or exempt $45,904,108

  • 2b · Program service revenue: FEE SERVICE INCOME

    total $1,279,249 · related or exempt $1,264,829 · unrelated business $14,420

  • 2c · Program service revenue: CARD INTERCHANGE FEES

    total $1,126,956 · related or exempt $1,126,956

  • 3 · Investment income

    total $19,507,980 · excluded $19,507,980

  • 7a · Gross sales of assets other than inventory

    securities $14,554,387 · other assets $3,791,556

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

    securities $14,829,902 · other assets $5,017,417

  • 7c · Gain or loss

    securities -$275,515 · other assets -$1,225,861

  • 7d · Net gain or loss

    total -$1,501,376 · excluded -$1,501,376

  • 11a · Other revenue: OTHER OPERATING INCOME

    total $32,900 · related or exempt $32,900

  • 11e · Other revenue, total

    $32,900

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $288,043

  • 5 · Compensation of officers, directors and key employees

    total $2,986,539

  • 7 · Other salaries and wages

    total $11,480,613

  • 8 · Pension plan contributions

    total $2,394,204

  • 9 · Other employee benefits

    total $2,747,282

  • 10 · Payroll taxes

    total $1,145,551

  • 11b · Fees: legal

    total $126,904

  • 11c · Fees: accounting

    total $145,176

  • 11g · Fees: other

    total $743,175

  • 12 · Advertising and promotion

    total $1,596,595

  • 13 · Office expenses

    total $818,156

  • 14 · Information technology

    total $2,002,539

  • 16 · Occupancy

    total $1,477,495

  • 17 · Travel

    total $91,260

  • 20 · Interest

    total $27,618,603

  • 22 · Depreciation, depletion and amortization

    total $1,071,778

  • 23 · Insurance

    total $158,448

  • 24a · Other expenses: LOAN SERVICING & OPERAT

    total $1,365,709

  • 24b · Other expenses: CARD EXPENSES

    total $652,900

  • 24c · Other expenses: PROVISION FOR LOAN LOSS

    total $179,985

  • 24d · Other expenses: UBIT TAXES

    total $784

  • 24e · All other expenses

    total $531,419

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,468,668 · end of year $3,455,441

  • 2 · Savings and temporary cash investments

    beginning of year $182,532,706 · end of year $167,878,386

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $4,651,546

  • 7 · Other notes and loans receivable

    beginning of year $1,087,599,895 · end of year $1,227,584,164

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,654,524 · end of year $1,909,282

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

    $33,360,370

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

    $10,340,450

  • 10c · Land, buildings and equipment, net

    beginning of year $17,287,710 · end of year $23,019,920

  • 11 · Investments: publicly traded securities

    beginning of year $786,969,960 · end of year $667,741,678

  • 12 · Investments: other securities

    beginning of year $2,187,200 · end of year $8,561,500

  • 15 · Other assets

    beginning of year $57,483,275 · end of year $55,770,456

  • 17 · Accounts payable and accrued expenses

    beginning of year $8,238,265 · end of year $10,026,992

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $150,000,000

  • 25 · Other liabilities

    beginning of year $1,897,104,579 · end of year $1,869,967,454

  • 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 $234,841,094 · end of year $130,577,927

Mission and programs · 2022

Mission

TO PROVIDE A FAVORABLE RETURN ON SAVINGS AND LOANS AT REASONABLE RATES TO ELIGIBLE MEMBERS.

Activities or mission (Part I)

TO PROVIDE LOANS AND SAVINGS TO MEMBERS.

  • TO PROVIDE A FAVORABLE RETURN ON SAVINGS AND LOANS AT REASONABLE RATES TO ELIGIBLE MEMBERS. MEMBERSHIP IS RESTRICTED TO THOSE INDIVIDUALS RESIDING IN MONTANA COUNTIES OF FLATHEAD, LAKE, LINCOLN, SANDERS, BROADWATER, GALLATIN, LEWIS AND CLARK, MISSOULA AND RAVALLI, AND WITHIN A 50 MILE RADIUS OF WHITEFISH MONTANA.

As filed on the 2022 return.

Listed in Part VII

  • Lyle Phillips

    BOARD CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • Tom Cullen

    BOARD VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • Leo Tracy

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Frank Barnes

    BOARD DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • John Snyder

    BOARD DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Sue Brown

    BOARD DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Charlene Rygg

    BOARD DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Jennifer D Archer

    SVP OF LOAN OPERATIONS

    Total calculated
    $157,308
    From this org
    $148,805
    From related orgs
    $0
    Other
    $8,503
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $131,754
    Bonus
    $9,417
    Other
    $7,634
    Deferred
    $3,953
    Nontaxable benefits
    $4,550
    Filer's total
    $157,308

  • Scott Bolster

    SVP AND CHIEF FINANCIAL OFFICER

    Total calculated
    $352,002
    From this org
    $292,598
    From related orgs
    $0
    Other
    $59,404
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $253,478
    Bonus
    $20,562
    Other
    $18,558
    Deferred
    $57,604
    Nontaxable benefits
    $1,800
    Filer's total
    $352,002

  • Cory J Coopman

    SVP OF IT AND PROJECT MANAGEMENT

    Total calculated
    $188,516
    From this org
    $178,257
    From related orgs
    $0
    Other
    $10,259
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $158,297
    Bonus
    $10,771
    Other
    $9,189
    Deferred
    $4,749
    Nontaxable benefits
    $5,510
    Filer's total
    $188,516

  • Allison H Deaver

    SVP OF HUMAN RESOURCES (THRU 07/22)

    Total calculated
    $122,591
    From this org
    $118,505
    From related orgs
    $0
    Other
    $4,086
    Hours/week
    40

  • Stephen W Haugen

    SVP AND CHIEF INFORMATION OFFICER

    Total calculated
    $282,346
    From this org
    $224,078
    From related orgs
    $0
    Other
    $58,268
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $183,599
    Bonus
    $22,650
    Other
    $17,829
    Deferred
    $55,508
    Nontaxable benefits
    $2,760
    Filer's total
    $282,346

  • James Kenyon

    PRESIDENT AND CEO

    Total calculated
    $1,207,493
    From this org
    $1,193,423
    From related orgs
    $0
    Other
    $14,070
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $567,000
    Bonus
    $53,625
    Other
    $572,798
    Deferred
    $9,150
    Nontaxable benefits
    $4,920
    Filer's total
    $1,207,493

  • Colleen M Murphy

    SVP AND CHIEF OPERATING OFFICER

    Total calculated
    $269,297
    From this org
    $209,497
    From related orgs
    $0
    Other
    $59,800
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $175,000
    Bonus
    $22,292
    Other
    $12,205
    Deferred
    $55,250
    Nontaxable benefits
    $4,550
    Filer's total
    $269,297

  • Matthew Venturini

    SVP OF LENDING

    Total calculated
    $184,753
    From this org
    $175,213
    From related orgs
    $0
    Other
    $9,540
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $146,000
    Bonus
    $19,712
    Other
    $9,501
    Deferred
    $4,380
    Nontaxable benefits
    $5,160
    Filer's total
    $184,753

  • Joshua S Wilson

    SVP OF MARKETING

    Total calculated
    $165,772
    From this org
    $156,622
    From related orgs
    $0
    Other
    $9,150
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $140,611
    Bonus
    $9,675
    Other
    $6,336
    Deferred
    $4,218
    Nontaxable benefits
    $4,932
    Filer's total
    $165,772

  • Cheryl Mintz

    SVP OF HUMAN RESOURCES

    Total calculated
    $56,461
    From this org
    $54,291
    From related orgs
    $0
    Other
    $2,170
    Hours/week
    40

  • Timothy Gaertner

    VP, MORTGAGE LOAN MANAGER

    Total calculated
    $172,747
    From this org
    $166,817
    From related orgs
    $0
    Other
    $5,930
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $105,660
    Bonus
    $55,544
    Other
    $5,613
    Deferred
    $3,170
    Nontaxable benefits
    $2,760
    Filer's total
    $172,747

  • Tobin Shannon

    COMMERCIAL LOAN MANAGER

    Total calculated
    $139,963
    From this org
    $135,141
    From related orgs
    $0
    Other
    $4,822
    Hours/week
    40

  • Alicia M Softich

    VP, DIGITAL SERVICES

    Total calculated
    $129,497
    From this org
    $123,112
    From related orgs
    $0
    Other
    $6,385
    Hours/week
    40

  • Kelly S St Onge

    VP, COMMERCIAL LOAN OFFICER

    Total calculated
    $181,197
    From this org
    $174,158
    From related orgs
    $0
    Other
    $7,039
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $156,131
    Bonus
    $10,505
    Other
    $7,522
    Deferred
    $4,684
    Nontaxable benefits
    $2,355
    Filer's total
    $181,197

  • Barbara Strouse

    VP, MORTGAGE LOAN MANAGER

    Total calculated
    $148,963
    From this org
    $146,021
    From related orgs
    $0
    Other
    $2,942
    Hours/week
    40

  • Michael T Blubaugh

    INV. OFFICER (FORMER CFO)

    Total calculated
    $119,664
    From this org
    $111,394
    From related orgs
    $0
    Other
    $8,270
    Hours/week
    25

    Schedule J breakdown matched by us

    Base
    $110,000
    Bonus
    $0
    Other
    $1,394
    Deferred
    $3,300
    Nontaxable benefits
    $4,970
    Filer's total
    $119,664

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

  • 1a · Travel for companions
  • 1a · Tax indemnification and gross-up payments
  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 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

The filer's explanations (Part III)

PART I, LINE 1A
THE CREDIT UNION PURCHASES SKI AND GOLF PASSES FOR EXECUTIVES, JAMES KENYON, SCOTT BOLSTER AND STEVE HAUGEN, AS WELL AS SOME SPOUSE TRAVEL TO NATIONAL CONFERENCES. THESE ARE A TAXABLE FRINGE BENEFIT TO THE RECIPIENT. THE ORGANIZATION ALSO COMPUTES GROSS-UP PAYMENTS RELATED TO THESE TAXABLE FRINGE BENEFITS.
PART I, LINE 4B
PRESIDENT AND CEO: $521,468 PAYOUT FROM THE 457F PLAN SVP AND CHIEF FINANCIAL OFFICER: $50,000 ACCRUAL OF 457(F) PLAN SVP AND CHIEF INFORMATION OFFICER: $50,000 ACCRUAL OF 457(F) PLAN SVP AND CHIEF OPERATING OFFICER: $50,000 ACCRUAL OF 457(F) PLAN

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

Provenance

Return type
form_990
Tax year
2022
Filed
1 November 2023
IRS schema version
2022v5.0
Source object
202343079349301209

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.