Skip to content
Nonprofiteer
← CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN

Form 990 for tax year 2022

Filed by CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN.

Totals

Total revenue
$179,964,241
Total expenses
$130,926,227
Contributions and grants received
$0
Grants paid
$86,657
Program service revenue
$93,648,334
Investment income
$86,315,907
Other revenue
$0
Total assets, end of year
$6,001,741,823
Total liabilities, end of year
$5,768,612,314
Net assets or fund balances, end of year
$233,129,509
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$130,926,227

Program services were 0.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • Mark Shobe

    CEO - Former

    Total calculated
    $4,154,195
    From this org
    $4,154,195
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $1,098,856
    Bonus
    $1,710,500
    Other
    $1,344,839
    Deferred
    $47,950
    Nontaxable benefits
    $17,358
    Filer's total
    $4,219,503

  • Brad Sova

    Financial Consultant

    Total calculated
    $1,386,634
    From this org
    $1,386,634
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $1,386,634
    Bonus
    $0
    Other
    $0
    Deferred
    $32,700
    Nontaxable benefits
    $21,025
    Filer's total
    $1,440,359

  • Ryan Goldberg

    CEO

    Total calculated
    $736,826
    From this org
    $736,826
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $736,826
    Bonus
    $0
    Other
    $0
    Deferred
    $12,200
    Nontaxable benefits
    $24
    Filer's total
    $749,050

  • John Friday

    Financial Consultant

    Total calculated
    $596,347
    From this org
    $596,347
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $596,347
    Bonus
    $0
    Other
    $0
    Deferred
    $32,700
    Nontaxable benefits
    $23,532
    Filer's total
    $652,579

  • Vince Pittiglio

    Chief Technology Officer

    Total calculated
    $472,461
    From this org
    $472,461
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $330,711
    Bonus
    $141,750
    Other
    $0
    Deferred
    $47,546
    Nontaxable benefits
    $17,124
    Filer's total
    $537,131

  • Keri Boyd

    Chief Financial Service Officer

    Total calculated
    $469,753
    From this org
    $469,753
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $328,003
    Bonus
    $141,750
    Other
    $0
    Deferred
    $47,950
    Nontaxable benefits
    $14,190
    Filer's total
    $531,893

  • John Chapel-Pearch

    CFO

    Total calculated
    $467,418
    From this org
    $467,418
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $325,668
    Bonus
    $141,750
    Other
    $0
    Deferred
    $47,950
    Nontaxable benefits
    $21,260
    Filer's total
    $536,628

  • Patrick Maher

    President DFCU Financial Patrners

    Total calculated
    $467,280
    From this org
    $467,280
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $165,195
    Bonus
    $302,085
    Other
    $0
    Deferred
    $20,950
    Nontaxable benefits
    $21,260
    Filer's total
    $509,490

  • Doug Cooper

    Chief Lending Officer

    Total calculated
    $465,618
    From this org
    $465,618
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $323,868
    Bonus
    $141,750
    Other
    $0
    Deferred
    $43,206
    Nontaxable benefits
    $21,286
    Filer's total
    $530,110

  • Brian Mell

    Financial Consultant

    Total calculated
    $442,510
    From this org
    $442,510
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $442,510
    Bonus
    $0
    Other
    $0
    Deferred
    $21,992
    Nontaxable benefits
    $0
    Filer's total
    $464,502

  • Scott Vermillion

    Investment Consultant

    Total calculated
    $369,175
    From this org
    $369,175
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $369,175
    Bonus
    $0
    Other
    $0
    Deferred
    $12,357
    Nontaxable benefits
    $23,532
    Filer's total
    $405,064

  • James Cowper

    Board Member Chairperson

    Total calculated
    $0
    Hours/week
    1

  • Matt Elsey

    Board Treasurer

    Total calculated
    $0
    Hours/week
    1

  • Keith Moss

    Board Member Vice Chair

    Total calculated
    $0
    Hours/week
    1

  • Donald Tomford

    Board Secretary

    Total calculated
    $0
    Hours/week
    1

  • Shirley Ghannam

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Margaret Dimond

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Annetta May

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • John Sinelli

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • James Bazner

    Board Member

    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

  • 1a · Travel for companions
  • 1a · Housing allowance or residence for personal use
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Written employment contract
  • 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)

Schedule J, Part I, Line 1a
Board members are reimbursed for costs related to attending the board planning retreat. Cost for spouse and dependent children accompanying the director to the retreat are also reimbursed.
Schedule J, Part I, Line 3
The organization reviews salaries by an independent consultant and studies.
Schedule J, Part I, Line 4
The former CEO had a retirement plan. The organization deposited funds into a life insurance policy on the participants life. During life and subject to the policy generating sufficient values, the participate can borrow from the policy. At death, the organization recovers its premiums plus interest plus additional key-person insurance proceeds. Participates are listed in schedule L, Part II.

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
7 November 2023
IRS schema version
2022v5.0
Source object
202313149349301576

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.