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Nonprofiteer
← GREATER NEVADA CREDIT UNION

Form 990 for tax year 2022

Filed by GREATER NEVADA CREDIT UNION.

Totals

Total revenue
$81,598,679
Total expenses
$78,661,196
Contributions and grants received
$0
Grants paid
$953,899
Program service revenue
$74,163,508
Investment income
$6,698,041
Other revenue
$737,130
Total assets, end of year
$1,767,200,524
Total liabilities, end of year
$1,649,750,780
Net assets or fund balances, end of year
$117,449,744
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 - MEMBER LOAN

    total $44,360,252 · related or exempt $44,360,252

  • 2b · Program service revenue: FEES & SERVICE CHARGES

    total $11,490,343 · related or exempt $11,490,343

  • 2c · Program service revenue: INTERCHANGE INCOME

    total $8,512,605 · related or exempt $8,512,605

  • 2d · Program service revenue: GAIN ON SALE OF LOANS

    total $2,846,102 · related or exempt $2,846,102

  • 2e · Program service revenue: SERVICING FEES

    total $1,657,980 · related or exempt $1,657,980

  • 2f · All other program service revenue

    total $5,296,226 · related or exempt $4,497,224 · unrelated business $799,002

  • 3 · Investment income

    total $6,698,974 · excluded $6,698,974

  • 6a · Gross rents

    real property $615,026

  • 6b · Less rental expenses

    real property $415,211

  • 6c · Rental income or loss

    real property $199,815

  • 6d · Net rental income or loss

    total $199,815 · excluded $199,815

  • 7a · Gross sales of assets other than inventory

    securities $2,249,000

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

    securities $2,249,664 · other assets $269

  • 7c · Gain or loss

    securities -$664 · other assets -$269

  • 7d · Net gain or loss

    total -$933 · excluded -$933

  • 11a · Other revenue: LIFE INSURANCE VALUE

    total $537,315 · excluded $537,315

  • 11e · Other revenue, total

    $537,315

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $893,899

  • 2 · Grants to domestic individuals

    total $60,000

  • 5 · Compensation of officers, directors and key employees

    total $3,358,794

  • 7 · Other salaries and wages

    total $18,189,400

  • 8 · Pension plan contributions

    total $596,110

  • 9 · Other employee benefits

    total $3,489,911

  • 10 · Payroll taxes

    total $1,739,716

  • 11b · Fees: legal

    total $306,937

  • 11c · Fees: accounting

    total $214,261

  • 11f · Fees: investment management

    total $117,540

  • 11g · Fees: other

    total $4,095,259

  • 12 · Advertising and promotion

    total $3,213,987

  • 13 · Office expenses

    total $3,242,851

  • 14 · Information technology

    total $2,071,996

  • 16 · Occupancy

    total $2,367,621

  • 17 · Travel

    total $486,826

  • 19 · Conferences, conventions and meetings

    total $238,901

  • 20 · Interest

    total $4,296,010

  • 22 · Depreciation, depletion and amortization

    total $4,014,611

  • 23 · Insurance

    total $184,928

  • 24a · Other expenses: PROCESSING COSTS

    total $7,997,894

  • 24b · Other expenses: LOAN LOSS PROVISION

    total $7,379,294

  • 24c · Other expenses: LOAN SERVICING

    total $2,243,196

  • 24d · Other expenses: LICENSES AND FEES

    total $2,163,177

  • 24e · All other expenses

    total $5,698,077

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $45,433,971 · end of year $49,708,920

  • 2 · Savings and temporary cash investments

    beginning of year $181,737,517 · end of year $83,171,301

  • 5 · Loans and receivables from officers and key people

    beginning of year $2,250,000 · end of year $2,250,000

  • 7 · Other notes and loans receivable

    beginning of year $1,038,007,320 · end of year $1,233,111,222

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,870,957 · end of year $2,322,505

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

    $89,050,990

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

    $37,834,730

  • 10c · Land, buildings and equipment, net

    beginning of year $51,335,174 · end of year $51,216,260

  • 11 · Investments: publicly traded securities

    beginning of year $212,905,477 · end of year $232,376,518

  • 12 · Investments: other securities

    beginning of year $5,609,779 · end of year $6,832,079

  • 13 · Investments: program-related

    beginning of year $6,729,472 · end of year $4,334,378

  • 14 · Intangible assets

    beginning of year $2,517,171 · end of year $2,440,171

  • 15 · Other assets

    beginning of year $64,567,348 · end of year $99,437,170

  • 17 · Accounts payable and accrued expenses

    beginning of year $15,786,631 · end of year $17,369,933

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $85,422,458

  • 24 · Unsecured notes and loans payable

    end of year $0

  • 25 · Other liabilities

    beginning of year $1,457,847,232 · end of year $1,546,958,389

  • 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 $141,330,323 · end of year $117,449,744

Mission and programs · 2022

Mission

TO PROVIDE QUALITY FINANCIAL SERVICES TO MEMBERS.

  • FINANCIAL SERVICES - BANKING ACTIVITIES, INCLUDING LOANS AND DEPOSITS. TOTAL MEMBERSHIP TO THE CREDIT UNION GREW TO 85,373 IN 2022, AN INCREASE OF 4,090 FOR THE YEAR. DURING 2022, THE CREDIT UNION AND ITS AFFILIATES FUNDED $333 MILLION IN CONSUMER LOANS.

  • MORTGAGE SERVICES - ORIGINATING, SELLING, AND SERVICING OF REAL ESTATE MORTGAGES. DURING 2022, THE CREDIT UNION FUNDED $179 MILLION IN MORTGAGE LOANS.

  • COMMERCIAL LENDING - ORIGINATING, SELLING, AND SERVICING OF COMMERCIAL LOANS. DURING 2022, THE CREDIT UNION FUNDED $326 MILLION IN COMMERCIAL LOANS.

As filed on the 2022 return.

Listed in Part VII

  • Wallace Murray

    PRESIDENT/CEO

    Total calculated
    $788,662
    From this org
    $756,953
    From related orgs
    $0
    Other
    $31,709
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $551,953
    Bonus
    $205,000
    Other
    $0
    Deferred
    $13,725
    Nontaxable benefits
    $17,984
    Filer's total
    $788,662

  • James Anderson

    EVP/MORTGAGE LENDING

    Total calculated
    $399,949
    From this org
    $357,601
    From related orgs
    $0
    Other
    $42,348
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $227,601
    Bonus
    $130,000
    Other
    $0
    Deferred
    $13,725
    Nontaxable benefits
    $28,623
    Filer's total
    $399,949

  • Jeremy Gilpin

    EVP/COMMERCIAL LENDING

    Total calculated
    $347,876
    From this org
    $318,952
    From related orgs
    $0
    Other
    $28,924
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $313,952
    Bonus
    $5,000
    Other
    $0
    Deferred
    $13,725
    Nontaxable benefits
    $15,199
    Filer's total
    $347,876

  • Joyce Whitney-Silva - Evpcfo

    THRU 10/22/AUDIT LIASION AS OF 10/22

    Total calculated
    $312,385
    From this org
    $287,867
    From related orgs
    $0
    Other
    $24,518
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $251,167
    Bonus
    $36,700
    Other
    $0
    Deferred
    $5,847
    Nontaxable benefits
    $18,671
    Filer's total
    $312,385

  • Sher Dehorney

    VP OF MORTGAGE OPERATIONS

    Total calculated
    $307,247
    From this org
    $287,483
    From related orgs
    $0
    Other
    $19,764
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $159,783
    Bonus
    $127,700
    Other
    $0
    Deferred
    $11,499
    Nontaxable benefits
    $8,265
    Filer's total
    $307,247

  • Doreen Lorinczi

    VP OF COMMERCIAL PRODUCTION

    Total calculated
    $300,327
    From this org
    $279,485
    From related orgs
    $0
    Other
    $20,842
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $186,985
    Bonus
    $92,500
    Other
    $0
    Deferred
    $12,577
    Nontaxable benefits
    $8,265
    Filer's total
    $300,327

  • Daniel Delarosa

    CHIEF EXPERIENCE OFFICER

    Total calculated
    $299,509
    From this org
    $262,283
    From related orgs
    $0
    Other
    $37,226
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $232,283
    Bonus
    $30,000
    Other
    $0
    Deferred
    $11,428
    Nontaxable benefits
    $25,798
    Filer's total
    $299,509

  • Michael Dietrich

    CHIEF TECHNOLOGY OFFICER

    Total calculated
    $287,887
    From this org
    $260,343
    From related orgs
    $0
    Other
    $27,544
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $230,143
    Bonus
    $30,200
    Other
    $0
    Deferred
    $8,334
    Nontaxable benefits
    $19,210
    Filer's total
    $287,887

  • Marcus Wertz

    CHIEF LENDING OFFICER

    Total calculated
    $259,913
    From this org
    $238,564
    From related orgs
    $0
    Other
    $21,349
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $208,364
    Bonus
    $30,200
    Other
    $0
    Deferred
    $6,150
    Nontaxable benefits
    $15,199
    Filer's total
    $259,913

  • Michael Randall

    SALES MANAGER

    Total calculated
    $257,690
    From this org
    $237,726
    From related orgs
    $0
    Other
    $19,964
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $119,925
    Bonus
    $117,801
    Other
    $0
    Deferred
    $4,766
    Nontaxable benefits
    $15,198
    Filer's total
    $257,690

  • Karen Johnson

    GOVT LENDING RELATIONSHIP OFFICER

    Total calculated
    $243,720
    From this org
    $232,420
    From related orgs
    $0
    Other
    $11,300
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $133,895
    Bonus
    $98,525
    Other
    $0
    Deferred
    $6,973
    Nontaxable benefits
    $4,327
    Filer's total
    $243,720

  • Richard Hassman

    CHIEF FINANCIAL OFFICER

    Total calculated
    $242,457
    From this org
    $209,527
    From related orgs
    $0
    Other
    $32,930
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $184,327
    Bonus
    $25,200
    Other
    $0
    Deferred
    $7,357
    Nontaxable benefits
    $25,573
    Filer's total
    $242,457

  • Michael Thomas

    SENIOR VP OF COMMUNICATIONS

    Total calculated
    $218,528
    From this org
    $194,789
    From related orgs
    $0
    Other
    $23,739
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $171,289
    Bonus
    $23,500
    Other
    $0
    Deferred
    $8,540
    Nontaxable benefits
    $15,199
    Filer's total
    $218,528

  • Patricia Chang

    SENIOR VP OF RISK

    Total calculated
    $201,270
    From this org
    $185,498
    From related orgs
    $0
    Other
    $15,772
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $161,998
    Bonus
    $23,500
    Other
    $0
    Deferred
    $7,507
    Nontaxable benefits
    $8,265
    Filer's total
    $201,270

  • Nicholas Rosival - Senior Vp Of

    INFRASTRUCTURE & PLATFORMS

    Total calculated
    $189,731
    From this org
    $159,158
    From related orgs
    $0
    Other
    $30,573
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $149,158
    Bonus
    $10,000
    Other
    $0
    Deferred
    $4,775
    Nontaxable benefits
    $25,798
    Filer's total
    $189,731

  • Rob Joiner

    CHAIR

    Total calculated
    $7,824
    From this org
    $7,824
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Paul Richey

    DIRECTOR

    Total calculated
    $7,791
    From this org
    $7,791
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Alex Talmant

    DIRECTOR

    Total calculated
    $6,038
    From this org
    $6,038
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Marsha Burgess

    DIRECTOR

    Total calculated
    $4,465
    From this org
    $4,465
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • William Arensdorf

    VICE CHAIR

    Total calculated
    $3,036
    From this org
    $3,036
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Jon Steele

    SECRETARY

    Total calculated
    $0
    Hours/week
    4

  • Travis Lee

    TREASURER

    Total calculated
    $0
    Hours/week
    4

  • Barbara Byington

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

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 · Independent compensation consultant
  • 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

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

The 10 largest by cash amount. The API serves every itemized grant.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • GREATER NEVADA LLC

    MORTGAGE SERVICES · NV · income $6,787,145 · assets $29,602,856

    Directly controlled by GREATER NEVADA CREDIT UNION

  • GREATER NEVADA FINANCIAL GROUP LLC

    INSURANCE PRODUCTS · NV · income $437,392 · assets $378,065

    Directly controlled by GREATER NEVADA CREDIT UNION

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • GREATER NEVADA COMMERCIAL LENDING LLC

    RELATED · COMMERCIAL LENDING · NV · 75% owned · share of income $643,111 · share of assets $11,704,395 · general or managing partner

    Directly controlled by GREATER NEVADA CREDIT UNION

Provenance

Return type
form_990
Tax year
2022
Filed
14 November 2023
IRS schema version
2022v5.0
Source object
202323189349312272

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