RIVERMARK COMMUNITY CREDIT UNION: Form 990, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- RIVERMARK COMMUNITY CREDIT UNION (EIN 93-6024307)
- Tax period
- 2023-01-01 to 2023-12-31
- Filed
- 2024-05-13
- IRS object ID
- 202401349349308525
- Schema version
- 2023v5.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2024-05-13T16:56:26-05:00 | ReturnTs |
| Tax Period End | 2023-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 910189318 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MOSS ADAMS LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 805 SW BROADWAY STE 1400 | AddressLine1Txt |
| City | PORTLAND | CityNm |
| State Abbreviation | OR | StateAbbreviationCd |
| ZIP | 97205 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2023-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 936024307 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RIVERMARK COMMUNITY CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | RIVE | BusinessNameControlTxt |
| Phone | 5035262696 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 9125 SW GEMINI DR SUITE 100 | AddressLine1Txt |
| City | BEAVERTON | CityNm |
| State Abbreviation | OR | StateAbbreviationCd |
| ZIP | 97008 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | SETH SCHAEFER | PersonNm |
| Person Title | CEO AND PRESIDENT | PersonTitleTxt |
| Phone | 5035262696 | PhoneNum |
| Signature | 2024-05-10 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | SETH | PersonFirstNm |
| Person Last | SCHAEFER | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | XXX-XX-XXXX | SSN |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (1) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | WENDY CAMPOS | PreparerPersonNm |
| PTIN | P00448102 | PTIN |
| Phone | 5032421447 | PhoneNum |
| Preparation | 2024-05-09 | PreparationDt |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 2 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2023-04-26 12:10:37Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | SETH SCHAEFER | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 9125 SW GEMINI DR SUITE 100 | AddressLine1Txt |
| City | BEAVERTON | CityNm |
| State Abbreviation | OR | StateAbbreviationCd |
| ZIP | 97008 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $128,448,141 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | RIVERMARKCU.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1951 | FormationYr |
| Legal Domicile State | OR | LegalDomicileStateCd |
| Activity Or Mission | CONDUCTING CREDIT UNION FINANCIAL SERVICES FOR A MEMBER OWNED FINANCIAL COOPERATIVE. | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 9 | VotingMembersIndependentCnt |
| Total Employee | 356 | TotalEmployeeCnt |
| Total Volunteers | 13 | TotalVolunteersCnt |
| Total Gross UBI | $514,564 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $55,466,465 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $66,593,410 | CYProgramServiceRevenueAmt |
| PY Investment Income | $9,784,219 | PYInvestmentIncomeAmt |
| CY Investment Income | $14,773,788 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $65,250,684 | PYTotalRevenueAmt |
| CY Total Revenue | $81,367,198 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $28,503,085 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $30,464,124 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $29,733,293 | PYOtherExpensesAmt |
| CY Other Expenses | $46,541,524 | CYOtherExpensesAmt |
| PY Total Expenses | $58,236,378 | PYTotalExpensesAmt |
| CY Total Expenses | $77,005,648 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $7,014,306 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $4,361,550 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $1,400,588,793 | TotalAssetsBOYAmt |
| Total Assets EOY | $1,448,214,620 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $1,336,573,326 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $1,368,036,785 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $64,015,467 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $80,177,835 | NetAssetsOrFundBalancesEOYAmt |
| Mission | PROVIDE QUALITY FINANCIAL SERVICES, PRODUCTS AND SUPPORT FOR MEMBERS IN THE LOCAL COMMUNITIES WE SERVE. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | PROVIDED FINANCIAL SERVICES TO 90,796 MEMBERS, INCLUDING SHARE DEPOSITS AND LOANS. | Desc |
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | Yes (1) | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | Yes (1) | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | Yes (1) | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 39983 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 356 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | Yes (1) | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 9 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 9 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | 0 | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | JAMIE TOMAN | PersonNm |
| Phone | 5035262696 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 9125 SW GEMINI DR | AddressLine1Txt |
| City | BEAVERTON | CityNm |
| State Abbreviation | OR | StateAbbreviationCd |
| ZIP | 97008 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (23 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd |
|---|---|---|---|---|---|---|---|
| SETH SCHAEFER | |||||||
| PRESIDENT/CEO | 40.00 | Yes (X) | $1,826,013 | $0 | $99,014 | ||
| CORI POLAND | |||||||
| CHIEF EXPERIENCE OFFICER | 40.00 | Yes (X) | $352,836 | $0 | $111,167 | ||
| ABEN HILL | |||||||
| CHIEF LENDING OFFICER | 40.00 | Yes (X) | $332,125 | $0 | $109,260 | ||
| STEPHANIE STRIMLING | |||||||
| CHIEF INNOVATION OFFICER | 40.00 | Yes (X) | $282,657 | $0 | $122,732 | ||
| DAVID NOBLE | |||||||
| CHIEF MARKETING OFFICER | 40.00 | Yes (X) | $280,146 | $0 | $130,764 | ||
| JOSEPH BRIAN GRIFFIS | |||||||
| CHIEF FINANCIAL OFFICER (THRU 2/23) | 40.00 | Yes (X) | $220,111 | $0 | $6,079 | ||
| RYAN HALLEY | |||||||
| VICE PRESIDENT FINANCIAL WELLNESS | 40.00 | $196,200 | $0 | $7,616 | Yes (X) | ||
| LANCE FINK | |||||||
| DATA PROGRAM MANAGER | 40.00 | $188,127 | $0 | $13,983 | Yes (X) | ||
| MICKEY BEARD | |||||||
| VICE PRESIDENT CONSUMER LENDING | 40.00 | $185,042 | $0 | $14,304 | Yes (X) | ||
| RANDAL BRESEE | |||||||
| VICE PRESIDENT MEMBER EXPERIENCE | 40.00 | $180,539 | $0 | $14,556 | Yes (X) | ||
| BRIAN GREENFIELD | |||||||
| VICE PRESIDENT OF TECHNOLOGY | 40.00 | $182,971 | $0 | $7,133 | Yes (X) | ||
| JEREMY CALVA | |||||||
| CHIEF FINANCIAL OFFICER | 40.00 | Yes (X) | $144,749 | $0 | $2,458 | ||
| KIM BICKFORD | |||||||
| BOARD CHAIR | 2.00 | Yes (X) | $22,000 | $0 | $0 | Yes (X) | |
| GLORIA ZABEL | |||||||
| BOARD VICE CHAIR | 2.00 | Yes (X) | $18,000 | $0 | $0 | Yes (X) | |
| JOSH STEPHENSON | |||||||
| SECRETARY | 2.00 | Yes (X) | $18,000 | $0 | $0 | Yes (X) | |
| GARY FRAYN | |||||||
| BOARD MEMBER | 2.00 | $16,500 | $0 | $0 | Yes (X) | ||
| KERRI LEATHERS IZUNAGBARA | |||||||
| BOARD MEMBER | 2.00 | $16,500 | $0 | $0 | Yes (X) | ||
| ROB LAVIGNE | |||||||
| BOARD MEMBER | 2.00 | $15,000 | $0 | $0 | Yes (X) | ||
| STEVEN HOLLAND | |||||||
| BOARD MEMBER | 2.00 | $15,000 | $0 | $0 | Yes (X) | ||
| JESUS PALOMARES | |||||||
| BOARD MEMBER | 2.00 | $15,000 | $0 | $0 | Yes (X) | ||
| BRETT BRYANT | |||||||
| BOARD MEMBER | 2.00 | $15,000 | $0 | $0 | Yes (X) | ||
| DENNIS FULLAN | |||||||
| BOARD MEMBER (THRU 4/23) | 2.00 | $7,500 | $0 | $0 | Yes (X) | ||
| BILL ROBERTS JR | |||||||
| BOARD MEMBER (THRU 4/23) | 2.00 | $7,500 | $0 | $0 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $4,537,516 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $639,066 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 43 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| FISERV INC | |||||
| 255 FISERV DRIVE | BROOKFIELD | WI | 53045 | FINANCIAL SOFTWARE AND HARDWARE | $2,885,071 |
| FINANCIAL TECHNOLOGY SOLUTIONS | |||||
| PO BOX 919 | MONROVIA | CA | 91017 | ATM/PTK MAINTENANCE, SOFTWARE AND MACHIN | $1,568,524 |
| NCR CORPORATION | |||||
| PO BOX 740641 | LOS ANGELES | CA | 90074 | ONLINE BANKING | $1,234,595 |
| DOVENMUEHLE MORTGAGE INC | |||||
| 1 CORPORATE DRIVE SUITE 360 | LAKE ZURICH | IL | 60047 | MORTGAGE SUB-SERVICER | $542,238 |
| LOOMIS FARGO & CO TOTAL | |||||
| DEPT CH 10500 | PALATINE | IL | 60055 | ATM/PTK SERVICER | $428,002 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 41 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (5 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| INTEREST ON LOANS | 522100 | $49,057,032 | $49,057,032 | |
| INTERCHANGE INCOME | 522100 | $10,831,880 | $10,434,916 | $396,964 |
| SERVICE CHARGES AND FE | 522100 | $6,257,155 | $6,200,288 | $56,867 |
| OTHER NON-INTEREST INC | 522100 | $1,701,658 | $1,640,925 | $60,733 |
| MORTGAGE SALES AND SER | 522100 | -$1,254,315 | -$1,254,315 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $66,593,410 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $14,456,240 | TotalRevenueColumnAmt |
| Exclusion | $14,456,240 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $34,983,389 | SecuritiesAmt |
| Other | $12,415,102 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $34,983,389 | SecuritiesAmt |
| Other | $12,097,554 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $0 | SecuritiesAmt |
| Other | $317,548 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $317,548 | TotalRevenueColumnAmt |
| Exclusion | $317,548 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $81,367,198 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $66,078,846 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $514,564 | UnrelatedBusinessRevenueAmt |
| Exclusion | $14,773,788 | ExclusionAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,186,115 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $18,947,627 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,554,657 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,516,905 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,258,820 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $72,304 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $146,487 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,126,073 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,865,205 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,321,606 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,586,697 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,977,366 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $729,383 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $10 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $17,934,986 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,271,768 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| PROVISION FOR LOAN LOSS | $6,020,925 |
| LOAN SERVICING | $3,103,144 |
| DUES AND SUBSCRIPTIONS | $297,459 |
| STATE EXAM FEE | $94,166 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $993,945 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $77,005,648 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $14,550,800 | BOYAmt |
| EOY | $11,499,282 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $34,498,362 | BOYAmt |
| EOY | $97,651,560 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $817,784,080 | BOYAmt |
| EOY | $845,138,577 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,861,684 | BOYAmt |
| EOY | $3,023,655 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $25,206,690 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $13,771,446 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $11,182,849 | BOYAmt |
| EOY | $11,435,244 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $448,174,250 | BOYAmt |
| EOY | $418,614,724 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,010,855 | BOYAmt |
| EOY | $3,555,637 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $62,525,913 | BOYAmt |
| EOY | $57,295,941 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,400,588,793 | BOYAmt |
| EOY | $1,448,214,620 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $19,147,523 | BOYAmt |
| EOY | $23,279,418 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $980,556 | BOYAmt |
| EOY | $683,890 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,992,014 | BOYAmt |
| EOY | $4,037,572 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $175,000,000 | BOYAmt |
| EOY | $155,000,000 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,137,453,233 | BOYAmt |
| EOY | $1,185,035,905 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,336,573,326 | BOYAmt |
| EOY | $1,368,036,785 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $64,015,467 | BOYAmt |
| EOY | $80,177,835 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $64,015,467 | BOYAmt |
| EOY | $80,177,835 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,400,588,793 | BOYAmt |
| EOY | $1,448,214,620 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $4,361,550 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $9,876,316 | NetUnrlzdGainsLossesInvstAmt |
| Prior Period Adjustments | $3,916,521 | PriorPeriodAdjustmentsAmt |
| Other Changes In Net Assets | -$1,992,019 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule C IRS990ScheduleC
| Field | Value | IRS element (for citing) |
|---|---|---|
| Political Expenditures | $12,000 | PoliticalExpendituresAmt |
| Volunteer Hours | 0 | VolunteerHoursCnt |
| Internal Funds Contributed | $12,000 | InternalFundsContributedAmt |
| Total Exempt Function Expend | $12,000 | TotalExemptFunctionExpendAmt |
| Form1120 POL Filed | Yes (1) | Form1120POLFiledInd |
Section527 Political Org Section527PoliticalOrgGrp
Organization Business Name OrganizationBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CREDIT UNION LEGISLATIVE ACTION FUND | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 1900 | AddressLine1Txt |
| City | BEAVERTON | CityNm |
| State Abbreviation | OR | StateAbbreviationCd |
| ZIP | 970751900 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 800043051 | EIN |
| Paid Internal Funds | $12,000 | PaidInternalFundsAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I-A, LINE 1: | FormAndLineReferenceDesc |
| Explanation | THE CREDIT UNION HAS ONLY INDIRECT POLITICAL CAMPAIGN ACTIVITY, A CONTRIBUTION TO THE CREDIT UNION LEGISLATIVE ACTION FUND. | ExplanationTxt |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | 0 | AgentTrusteeEtcInd |
| Incl Escrow Custodial Acct Liab | Yes (1) | InclEscrowCustodialAcctLiabInd |
| Explanation Provided | Yes (X) | ExplanationProvidedInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $53,331 | OtherCostOrOtherBasisAmt |
| Book Value | $53,331 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $9,847,432 | OtherCostOrOtherBasisAmt |
| Depreciation | $2,138,558 | DepreciationAmt |
| Book Value | $7,708,874 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $4,752,323 | OtherCostOrOtherBasisAmt |
| Depreciation | $3,475,223 | DepreciationAmt |
| Book Value | $1,277,100 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $10,553,604 | OtherCostOrOtherBasisAmt |
| Depreciation | $8,157,665 | DepreciationAmt |
| Book Value | $2,395,939 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $11,435,244 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)
| DescDesc | AmtAmt |
|---|---|
| MEMBER SHARE & SAVINGS ACCOUNTS | $1,181,847,163 |
| OPERATING LEASE LIABILITY | $3,188,742 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $1,185,035,905 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART IV, LINE 2B: | THE CREDIT UNION MAINTAINS ESCROW, TAXES AND INSURANCE AS PART OF THE LOAN PROGRAM. |
| PART X, LINE 2: | THE CREDIT UNION IS STATE CHARTERED AND FEDERALLY TAX-EXEMPT UNDER INTERNAL REVENUE CODE 501(C)(14), EXCEPT TO THE EXTENT OF UNRELATED BUSINESS INCOME. RIA IS A DISREGARDED ENTITY FOR TAX PURPOSES AND ITS ACTIVITY IS INCLUDED IN THE CREDIT UNION'S TAX FILINGS. A TAX-EXEMPT ORGANIZATION INFORMATION RETURN, UNRELATED BUSINESS INCOME TAX RETURN, AND OREGON EXCISE RETURN ARE FILED ANNUALLY WITH THE APPLICABLE TAX JURISDICTIONS. THE CREDIT UNION HAD NO UNRECOGNIZED TAX BENEFITS AS OF DECEMBER 31, 2023 AND 2022. THE CREDIT UNION RECOGNIZES INTEREST ACCRUED AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS AS A NONINTEREST EXPENSE. DURING THE YEARS ENDED DECEMBER 31, 2023 AND 2022, THE CREDIT UNION RECOGNIZED NO INTEREST AND PENALTIES. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | Yes (X) | TravelForCompanionsInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (1) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (11 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| SETH SCHAEFER | ||||||||||||||
| PRESIDENT/CEO | $582,249 | $0 | $212,000 | $0 | $1,031,764 | $0 | $91,639 | $0 | $7,375 | $0 | $1,925,027 | $0 | $1,018,257 | $0 |
| CORI POLAND | ||||||||||||||
| CHIEF EXPERIENCE OFFICER | $256,186 | $0 | $95,909 | $0 | $741 | $0 | $103,792 | $0 | $7,375 | $0 | $464,003 | $0 | $0 | $0 |
| ABEN HILL | ||||||||||||||
| CHIEF LENDING OFFICER | $256,585 | $0 | $74,346 | $0 | $1,194 | $0 | $101,885 | $0 | $7,375 | $0 | $441,385 | $0 | $0 | $0 |
| STEPHANIE STRIMLING | ||||||||||||||
| CHIEF INNOVATION OFFICER | $224,870 | $0 | $57,280 | $0 | $507 | $0 | $115,357 | $0 | $7,375 | $0 | $405,389 | $0 | $0 | $0 |
| DAVID NOBLE | ||||||||||||||
| CHIEF MARKETING OFFICER | $219,783 | $0 | $58,659 | $0 | $1,704 | $0 | $123,389 | $0 | $7,375 | $0 | $410,910 | $0 | $0 | $0 |
| JOSEPH BRIAN GRIFFIS | ||||||||||||||
| CHIEF FINANCIAL OFFICER (THRU 2/23) | $32,187 | $0 | $88,009 | $0 | $99,915 | $0 | $4,850 | $0 | $1,229 | $0 | $226,190 | $0 | $24,910 | $0 |
| RYAN HALLEY | ||||||||||||||
| VICE PRESIDENT FINANCIAL WELLNESS | $178,697 | $0 | $16,216 | $0 | $1,287 | $0 | $7,616 | $0 | $0 | $0 | $203,816 | $0 | $0 | $0 |
| LANCE FINK | ||||||||||||||
| DATA PROGRAM MANAGER | $172,853 | $0 | $15,141 | $0 | $133 | $0 | $6,608 | $0 | $7,375 | $0 | $202,110 | $0 | $0 | $0 |
| MICKEY BEARD | ||||||||||||||
| VICE PRESIDENT CONSUMER LENDING | $166,791 | $0 | $14,696 | $0 | $3,555 | $0 | $6,929 | $0 | $7,375 | $0 | $199,346 | $0 | $0 | $0 |
| RANDAL BRESEE | ||||||||||||||
| VICE PRESIDENT MEMBER EXPERIENCE | $162,891 | $0 | $13,989 | $0 | $3,659 | $0 | $7,181 | $0 | $7,375 | $0 | $195,095 | $0 | $0 | $0 |
| BRIAN GREENFIELD | ||||||||||||||
| VICE PRESIDENT OF TECHNOLOGY | $168,198 | $0 | $13,573 | $0 | $1,200 | $0 | $7,133 | $0 | $0 | $0 | $190,104 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART I, LINE 1A | BOARD AND MANAGEMENT OCCASIONALLY BRING SPOUSES ON CONFERENCE TRIPS. THIS WAS INCLUDED IN TOTAL COMPENSATION. |
| PART I, LINE 1B | SETH SCHAEFER, CHIEF EXECUTIVE OFFICER, HAS EARNED $1,567,589 FOR HIS SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN AS OF 12/31/2023. TOTAL CONTRIBUTIONS OF $78,439 AND TOTAL DISTRIBUTIONS OF $1,018,257 WERE ISSUED TO THE PLAN DURING 2023. BRIAN GRIFFIS, CHIEF FINANCIAL OFFICER, EARNED $283,578 FOR HIS SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN AS OF 2/28/2023. BRIAN LEFT THE ORGANIZATION AT THE END OF FEBRUARY 2023 AND TOOK A TOTAL DISTRIBUTION OF $24,910. CORI POLAND, CHIEF EXPERIENCE OFFICER, HAS EARNED $336,670 FOR HER SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN AS OF 12/31/2023. TOTAL CONTRIBUTIONS OF $92,452 AND TOTAL DISTRIBUTIONS OF $24,974 WERE ISSUED TO THE PLAN DURING 2023. ABEN HILL, CHIEF LENDING OFFICER, HAS EARNED $176,591 FOR HIS SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN AS OF 12/31/2023. TOTAL CONTRIBUTIONS OF $88,685 AND TOTAL DISTRIBUTIONS OF $0 WERE ISSUED TO THE PLAN DURING 2023. STEPHANIE STRIMLING, CHIEF INNOVATION OFFICER, HAS EARNED $176,591 FOR HIS SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN AS OF 12/31/2023. TOTAL CONTRIBUTIONS OF $88,685 AND TOTAL DISTRIBUTIONS OF $0 WERE ISSUED TO THE PLAN DURING 2023. DAVID NOBLE, CHIEF MARKETING OFFICER, HAS EARNED $107,622 FOR HIS SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN AS OF 12/31/2023. TOTAL CONTRIBUTIONS OF $107,622 AND TOTAL DISTRIBUTIONS OF $0 WERE ISSUED TO THE PLAN DURING 2023. |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (9 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | RIVERMARK COMMUNITY CREDIT UNION HAD 90,796 MEMBERS AT 12/31/23. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE CREDIT UNION'S GOVERNING BODY IS SELECTED FROM AMONG MEMBERSHIP AND IS VOTED ON BY ALL ELIGIBLE MEMBERS OVER THE AGE OF 18. |
| FORM 990, PART VI, SECTION B, LINE 11B | FORM 990 IS REVIEWED BY THE CREDIT UNION'S CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER AND IS ALSO PREPARED BY A THIRD PARTY ACCOUNTING FIRM PRIOR TO FILING. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE CREDIT UNION HAS A POLICY TITLED "CODE OF ETHICS AND STANDARDS OF BUSINESS CONDUCT OF BOARD OF DIRECTORS, SUPERVISORY COMMITTEE, BOARD COMMITTEES AND OFFICIALS OF RIVERMARK COMMUNITY CREDIT UNION." VOLUNTEERS OF THE CREDIT UNION REVIEW AND APPROVE THIS POLICY ON AN ANNUAL BASIS. THE VOLUNTEERS MUST NOTIFY THE BOARD CHAIRMAN IF THEIR STATUS CHANGES AND THEY NO LONGER MEET THE QUALIFICATIONS FOR THE SEAT THEY OCCUPY. CONDUCT NOT IN ACCORDANCE WITH THIS POLICY SHALL CONSTITUTE GROUNDS FOR DISQUALIFICATION TO SERVE, DISCIPLINARY ACTION, OR SUSPENSION OR REMOVAL AS PERMITTED BY LAW. |
| FORM 990, PART VI, SECTION B, LINE 15 | COMPENSATION IS REVIEWED ANNUALLY BY THE BOARD OF DIRECTORS. IN PREPARATION FOR THE REVIEW, THE VP OF HUMAN RESOURCES PROVIDES REPORT DATA FROM A PROFESSIONAL COMPENSATION FIRM THAT PROVIDES COMPENSATION DATA FOR ALL EMPLOYEE LEVELS. IN ADDITION, A SEPARATE CEO SALARY REPORT IS REQUESTED TO USE FOR COMPARABILITY PURPOSES. THE BOARD OF DIRECTORS REVIEWS THIS INFORMATION WHEN MAKING THE RECOMMENDATION FOR AN ANNUAL SALARY. BONUS COMPENSATION, IF ANY IS GIVEN, IS DIRECTLY TIED TO ACHIEVEMENT OF SPECIFIC CREDIT UNION AND INDIVIDUAL GOALS. THIS PROCESS IS COMPLETED ANNUALLY. |
| FORM 990, PART VI, SECTION C, LINE 18 | THROUGH THE ANNUAL MEETING OF THE CREDIT UNION MEMBERS. |
| FORM 990, PART VI, SECTION C, LINE 19 | FINANCIAL STATEMENTS AS WELL AS GOVERNING AND CONFLICT OF INTEREST POLICY DOCUMENTS ARE AVAILABLE UPON REQUEST. |
| FORM 990, PART XI, LINE 9: | ASC 326 ADOPTED EXPECTED LOSS ADJUSTMENT -1,992,019. |
| FORM 990, PART XII, LINE 2C: | THE CREDIT UNION ADOPTED ASC 326 USING THE MODIFIED RETROSPECTIVE METHOD FOR ALL FINANCIAL ASSETS MEASURED AT AMORTIZED COST, AND OFF-BALANCE-SHEET CREDIT EXPOSURES. RESULTS FOR REPORTING PERIODS BEGINNING AFTER JANUARY 1, 2023, ARE PRESENTED UNDER ASC 326, WHILE PRIOR AMOUNTS CONTINUE TO BE REPORTED IN ACCORDANCE WITH PREVIOUSLY APPLICABLE GAAP. THE ADOPTION RESULTED IN AN INCREASE TO THE ALLOWANCE FOR CREDIT LOSSES ON LOANS OF APPROXIMATELY $2 MILLION, WITH AN OFFSETTING DECREASE TO THE BEGINNING BALANCE OF UNDIVIDED EARNINGS. |
Schedule R IRS990ScheduleR
Id Disregarded Entities IdDisregardedEntitiesGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RIVERMARK INSURANCE AGENCY LLC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 9125 SW GEMINI DR SUITE 100 | AddressLine1Txt |
| City | BEAVERTON | CityNm |
| State Abbreviation | OR | StateAbbreviationCd |
| ZIP | 97008 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 462978707 | EIN |
| Primary Activities | INSURANCE AGENCY | PrimaryActivitiesTxt |
| Legal Domicile State | OR | LegalDomicileStateCd |
| Total Income | $63,748 | TotalIncomeAmt |
| End Of Year Assets | $500,414 | EndOfYearAssetsAmt |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RIVERMARK COMMUNITY CREDIT UNION | BusinessNameLine1Txt |