Form 990 for tax year 2022
Filed by CREDIT UNIONS CHARTERED IN THE STATE OF COLORADO.
Totals
- Total revenue
- $3,701,255
- Total expenses
- $3,394,264
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $3,091,867
- Investment income
- $547,617
- Other revenue
- $61,771
- Total assets, end of year
- $103,995,358
- Total liabilities, end of year
- $90,497,440
- Net assets or fund balances, end of year
- $13,497,918
- 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 M
total $2,002,945 · related or exempt $2,002,945
-
2b · Program service revenue: OTHER INCOME
total $695,880 · related or exempt $695,880
-
2c · Program service revenue: FEES AND CHARGES
total $393,042 · related or exempt $393,042
-
3 · Investment income
total $548,856 · related or exempt $548,856
-
7a · Gross sales of assets other than inventory
other assets $10,019
-
7b · Less cost or other basis and sales expenses
other assets $11,258
-
7c · Gain or loss
other assets -$1,239
-
7d · Net gain or loss
total -$1,239 · related or exempt -$1,239
-
11a · Other revenue: OTHER NON INTEREST INC
total $57,164 · related or exempt $57,164
-
11b · Other revenue: NON-MEMBER ATM FEES
total $4,607 · unrelated business $4,607
-
11e · Other revenue, total
$61,771
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $563,744
-
7 · Other salaries and wages
total $832,992
-
8 · Pension plan contributions
total $104,750
-
9 · Other employee benefits
total $131,864
-
10 · Payroll taxes
total $105,963
-
11b · Fees: legal
total $66,056
-
11c · Fees: accounting
total $45,288
-
11g · Fees: other
total $39,151
-
12 · Advertising and promotion
total $37,368
-
13 · Office expenses
total $711,897
-
16 · Occupancy
total $83,117
-
17 · Travel
total $30,983
-
22 · Depreciation, depletion and amortization
total $117,785
-
24a · Other expenses: INTEREST AND DIVIDENDS
total $243,944
-
24b · Other expenses: LOAN SERVICING EXPENSES
total $139,428
-
24c · Other expenses: MISCELLANEOUS OTHER EXP
total $90,128
-
24d · Other expenses: PROVISION FOR LOAN LOSS
total $39,778
-
24e · All other expenses
total $10,028
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,129,643 · end of year $1,274,952
-
2 · Savings and temporary cash investments
beginning of year $21,481,853 · end of year $10,011,461
-
4 · Accounts receivable
beginning of year $224,492
-
7 · Other notes and loans receivable
beginning of year $41,489,889 · end of year $42,993,395
-
9 · Prepaid expenses and deferred charges
beginning of year $230,848 · end of year $220,535
-
10a · Land, buildings and equipment: cost or other basis
$2,595,273
-
10b · Land, buildings and equipment: accumulated depreciation
$1,255,117
-
10c · Land, buildings and equipment, net
beginning of year $1,405,120 · end of year $1,340,156
-
12 · Investments: other securities
beginning of year $34,736,726 · end of year $42,535,253
-
14 · Intangible assets
beginning of year $21,741 · end of year $15,213
-
15 · Other assets
beginning of year $4,651,438 · end of year $5,604,393
-
17 · Accounts payable and accrued expenses
beginning of year $3,004,352 · end of year $1,563,325
-
25 · Other liabilities
beginning of year $89,176,471 · end of year $88,934,115
-
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 $1,351,917 · end of year $1,351,917
-
31 · Retained earnings, endowment or other funds
beginning of year $11,839,010 · end of year $12,146,001
Mission and programs · 2022
Mission
TO PROMOTE THRIFT AND PROVIDE 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 MAKE LOANS FROM THESE SHARES TO ITS MEMBERS.
-
PROVIDE A WIDE VARIETY OF FINANCIAL PRODUCTS AND SERVICES TO MEMBERS OF THE CREDIT UNION. OVER 7,200 MEMBERS SERVED.
As filed on the 2022 return.
Listed in Part VII
-
Debra LarsenDEBRA LARSEN
CHAIRPERSON
- Total calculated
- $0
- Hours/week
- 1
-
Donald MayDONALD MAY
VICE-CHAIRPERSON
- Total calculated
- $0
- Hours/week
- 1
-
Barbara PetersBARBARA PETERS
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Karl WhiteKARL WHITE
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Joe HolemanJOE HOLEMAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jack HagamanJACK HAGAMAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Dale MingiltonDALE MINGILTON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
George LastGEORGE LAST
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Miguel GarciaMIGUEL GARCIA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Michelle CraftMICHELLE CRAFT
CIO
- Total calculated
- $123,388
- From this org
- $102,561
- From related orgs
- $0
- Other
- $20,827
- Hours/week
- 50
-
Rainy ThoenRAINY THOEN
CEO
- Total calculated
- $287,079
- From this org
- $243,373
- From related orgs
- $0
- Other
- $43,706
- Hours/week
- 55
Schedule J breakdown matched by us
- Base
- $180,468
- Bonus
- $42,082
- Other
- $20,823
- Deferred
- $24,337
- Nontaxable benefits
- $19,369
- Filer's total
- $287,079
-
Loretta ThomasLORETTA THOMAS
CFO
- Total calculated
- $124,653
- From this org
- $103,601
- From related orgs
- $0
- Other
- $21,052
- Hours/week
- 50
-
Keli GinterKELI GINTER
COO
- Total calculated
- $135,849
- From this org
- $114,209
- From related orgs
- $0
- Other
- $21,640
- Hours/week
- 50
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 · Written employment contract
- 3 · Compensation survey or study
- 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 4B
- RAINY THOEN PARTICIPATES IN THE ORGANIZATION'S 457(F) PLAN, BUT DID NOT RECEIVE ANY PAYOUT DURING 2022.
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
- 2022
- Filed
- 14 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202333199349307738
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