CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN: Form 990, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN (EIN 38-1215360)
- Tax period
- 2023-01-01 to 2023-12-31
- Filed
- 2024-05-09
- IRS object ID
- 202431309349300638
- 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 | 2024-05-09T10:56:47-04:00 | ReturnTs |
| Tax Period End | 2023-12-31 | TaxPeriodEndDt |
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2023-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 381215360 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CREDIT UNIONS CHARTERED IN THE | BusinessNameLine1Txt |
| Business Name Line2 | STATE OF MICHIGAN 48 LAKE MICH CU | BusinessNameLine2Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | CRED | BusinessNameControlTxt |
| Phone | 6162429790 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 2848 | AddressLine1Txt |
| City | GRAND RAPIDS | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 495012848 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | PETER DANN | PersonNm |
| Person Title | EVP CFO | PersonTitleTxt |
| Phone | 6162346418 | PhoneNum |
| Signature | 2024-05-09 | SignatureDt |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | PETER | PersonFirstNm |
| Person Last | DANN | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (true) | IRSResponsiblePrtyInfoCurrInd |
| Tax | 2023 | TaxYr |
| Build TS | 2023-04-26 12:10:37Z | BuildTS |
Form 990 IRS990
Doing Business As Name DoingBusinessAsName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LAKE MICHIGAN CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | JULIE LEONARD | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 2848 | AddressLine1Txt |
| City | GRAND RAPIDS | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 49501 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $692,047,277 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.LMCU.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1933 | FormationYr |
| Legal Domicile State | MI | LegalDomicileStateCd |
| Activity Or Mission | PROMOTION OF THRIFT AND PROVIDING LOW COST CREDIT AND OTHER FINANCIAL SERVICES FOR ITS MEMBERS THROUGH MUTUAL AND NONPROFIT ORGANIZATION. | ActivityOrMissionDesc |
| Voting Members Governing Body | 11 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 11 | VotingMembersIndependentCnt |
| Total Employee | 1703 | TotalEmployeeCnt |
| Total Gross UBI | $2,384,793 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $491,464 | NetUnrelatedBusTxblIncmAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $460,514,936 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $639,865,963 | CYProgramServiceRevenueAmt |
| PY Investment Income | $35,298,506 | PYInvestmentIncomeAmt |
| CY Investment Income | $35,730,234 | CYInvestmentIncomeAmt |
| PY Other Revenue | $24,528,395 | PYOtherRevenueAmt |
| CY Other Revenue | $16,451,080 | CYOtherRevenueAmt |
| PY Total Revenue | $520,341,837 | PYTotalRevenueAmt |
| CY Total Revenue | $692,047,277 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $150,000 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $160,000 | CYGrantsAndSimilarPaidAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $153,292,359 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $151,350,361 | CYSalariesCompEmpBnftPaidAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $197,302,230 | PYOtherExpensesAmt |
| CY Other Expenses | $368,316,442 | CYOtherExpensesAmt |
| PY Total Expenses | $350,744,589 | PYTotalExpensesAmt |
| CY Total Expenses | $519,826,803 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $169,597,248 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $172,220,474 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $11,905,975,667 | TotalAssetsBOYAmt |
| Total Assets EOY | $13,371,002,258 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $10,652,120,913 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $11,990,386,029 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $1,253,854,754 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $1,380,616,229 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | PROMOTION OF THRIFT AND PROVIDING LOW COST CREDIT AND OTHER FINANCIAL SERVICES FOR ITS MEMBERS THROUGH MUTUAL AND NONPROFIT ORGANIZATION. | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Desc | SEE ADDITONAL DETAILS | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | SEE ADDITIONAL DETAILS | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | SEE ADDITIONAL DETAILS | Desc |
Prog Srvc Accom Acty Other ProgSrvcAccomActyOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | SEE DETAILS | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Described In Section501c3 | false | DescribedInSection501c3Ind |
| Schedule B Required | false | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Subject To Proxy Tax | false | SubjectToProxyTaxInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Conservation Easements | false | ConservationEasementsInd |
| Collections Of Art | false | CollectionsOfArtInd |
| Credit Counseling | Yes (true) | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | false | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (true) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | false | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | false | ReportProgramRelatedInvstInd |
| Report Other Assets | false | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (true) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | false | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | false | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (true) | ConsolidatedAuditFinclStmtInd |
| School Operating | false | SchoolOperatingInd |
| Foreign Office | false | ForeignOfficeInd |
| Foreign Activities | false | ForeignActivitiesInd |
| More Than5000 K To Org | false | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividualsInd |
| Professional Fundraising | false | ProfessionalFundraisingInd |
| Fundraising Activities | false | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | Yes (true) | GrantsToOrganizationsInd |
| Grants To Individuals | Yes (true) | GrantsToIndividualsInd |
| Schedule J Required | Yes (true) | ScheduleJRequiredInd |
| Tax Exempt Bonds | false | TaxExemptBondsInd |
| Loan Outstanding | Yes (true) | LoanOutstandingInd |
| Grant To Related Person | false | GrantToRelatedPersonInd |
| Business Rln With Org Mem | false | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | false | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | false | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | false | DeductibleNonCashContriInd |
| Deductible Art Contribution | false | DeductibleArtContributionInd |
| Terminate Operations | false | TerminateOperationsInd |
| Partial Liquidation | false | PartialLiquidationInd |
| Disregarded Entity | Yes (true) | DisregardedEntityInd |
| Related Entity | false | RelatedEntityInd |
| Related Organization Ctrl Ent | false | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| IRP Document | 0 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (true) | BackupWthldComplianceInd |
| Employee | 1703 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (true) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (true) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (true) | Form990TFiledInd |
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | false | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | false | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | false | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | false | PayPremiumsPrsnlBnftCntrctInd |
| Form8899 Filedind | false | Form8899Filedind |
| Form1098 C Filed | false | Form1098CFiledInd |
| Indoor Tanning Services | false | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | Yes (true) | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | false | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 11 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 11 | IndependentVotingMemberCnt |
| Family Or Business Rln | Yes (true) | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | false | DelegationOfMgmtDutiesInd |
| Change To Org Documents | false | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (true) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (true) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (true) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (true) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (true) | MinutesOfCommitteesInd |
| Officer Mailing Address | Yes (true) | OfficerMailingAddressInd |
| Local Chapters | Yes (true) | LocalChaptersInd |
| Policies Reference Chapters | Yes (true) | PoliciesReferenceChaptersInd |
| Form990 Provided To Gvrn Body | false | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (true) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (true) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (true) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (true) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (true) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (true) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (true) | CompensationProcessOtherInd |
| Investment In Joint Venture | Yes (true) | InvestmentInJointVentureInd |
| Written Policy Or Procedure | Yes (true) | WrittenPolicyOrProcedureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LAKE MICHIGAN CREDIT UNION | BusinessNameLine1Txt |
| Business Name Line2 | LAKE MICHIGAN CREDIT UNION | BusinessNameLine2Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 6162346830 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 5664 PRAIRIE CREEK DR | AddressLine1Txt |
| Address Line2 | 5664 PRAIRIE CREEK DR | AddressLine2Txt |
| City | CALEDONIA | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 49316 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (28 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd | Former Ofcr Director TrusteeFormerOfcrDirectorTrusteeInd | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd |
|---|---|---|---|---|---|---|---|---|
| SANDY JELINSKI | ||||||||
| CEO | 40.00 | Yes (X) | $2,817,720 | $0 | $73,268 | |||
| MATT ADLER | ||||||||
| MORTGAGE LO | $1,002,760 | $0 | $39,428 | Yes (X) | ||||
| ROY HELLWEGE | ||||||||
| PRESIDENT CE | $998,755 | $0 | $41,371 | Yes (X) | ||||
| ZAC ELLERBROEK | ||||||||
| MORTGAGE LO | $947,179 | $0 | $10,128 | Yes (X) | ||||
| ERIC BURGOON | ||||||||
| SVP MORTGAGE | 40.00 | Yes (X) | $775,086 | $0 | $71,063 | |||
| CORBIN BUTTLEMAN | ||||||||
| VP MORTGAGE | $609,058 | $0 | $49,977 | Yes (X) | ||||
| PETER DANN | ||||||||
| EVP CFO | 40.00 | Yes (X) | $601,528 | $0 | $50,027 | |||
| EMIL IZRAILOV | ||||||||
| MORTGAGE SAL | $611,984 | $0 | $32,977 | Yes (X) | ||||
| RAZI QADRI | ||||||||
| SVP CIOO | $569,922 | $0 | $42,337 | Yes (X) | ||||
| NORA SWART | ||||||||
| SVP CPO | 40.00 | Yes (X) | $555,541 | $0 | $42,443 | |||
| JIM PAQUETTE | ||||||||
| MORTGAGE SAL | $513,873 | $0 | $40,278 | Yes (X) | ||||
| DON BRATT | ||||||||
| SVP CMO | 40.00 | Yes (X) | $386,743 | $0 | $52,441 | |||
| JIM MASKELL | ||||||||
| SVP CCO | 40.00 | Yes (X) | $372,992 | $0 | $49,902 | |||
| MARK POWELL | ||||||||
| SVP CRO | 40.00 | Yes (X) | $406,070 | $0 | $14,981 | |||
| SARA KEMPERMAN | ||||||||
| SVP RETAIL O | 40.00 | Yes (X) | $369,169 | $0 | $32,505 | |||
| ALICIA FORCE | ||||||||
| SVP CONSUMER | $278,162 | $0 | $25,294 | Yes (X) | ||||
| KEVIN SMITH | ||||||||
| CIO | 40.00 | Yes (X) | $80,853 | $0 | $42,337 | |||
| DAVE BARDOLPH | ||||||||
| BOARD MEMBER | 1.00 | $0 | $0 | $0 | Yes (X) | |||
| TIM GORTSEMA | ||||||||
| BOARD MEMBER | 1.00 | $0 | $0 | $0 | Yes (X) | |||
| BRAD MATHIS | ||||||||
| BOARD MEMBER | 1.00 | $0 | $0 | $0 | Yes (X) | |||
| TIM MYERS | ||||||||
| BOARD MEMBER | 1.00 | $0 | $0 | $0 | Yes (X) | |||
| JACK NEWBERRY | ||||||||
| BOARD MEMBER | 1.00 | $0 | $0 | $0 | Yes (X) | |||
| JUAN OLIVAREZ | ||||||||
| BOARD MEMBER | 1.00 | $0 | $0 | $0 | Yes (X) | |||
| CHERI PARKER | ||||||||
| BOARD MEMBER | 1.00 | $0 | $0 | $0 | Yes (X) | |||
| BOB PARTRIDGE | ||||||||
| BOARD MEMBER | 1.00 | $0 | $0 | $0 | Yes (X) | |||
| MIKE RICE | ||||||||
| BOARD MEMBER | 1.00 | $0 | $0 | $0 | Yes (X) | |||
| GRETCHEN TELLMAN-PARTRIDGE | ||||||||
| BOARD MEMBER | 1.00 | $0 | $0 | $0 | Yes (X) | |||
| BOB WHITE | ||||||||
| BOARD MEMBER | 1.00 | $0 | $0 | $0 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $11,897,395 | TotalReportableCompFromOrgAmt |
| Total Other Compensation | $710,757 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 213 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | Yes (true) | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (true) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| NEWCO BUILDING | |||||
| 4131 ROGER B CHAFFE | GRAND RAPIDS | MI | 49548 | CONSTRUCTION | $6,051,996 |
| JACK HENRY | |||||
| PO BOX 609 | MONETT | MO | 65708 | SOFTWARE | $3,474,503 |
| AT&T | |||||
| PO BOX 5014 | CAROL STREAM | IL | 60197 | COMMUNICATION | $3,037,587 |
| BLACK KNIGHT TECHNOLOGIES | |||||
| PO BOX 809007 | CHICAGO | IL | 60680 | SOFTWARE | $2,931,081 |
| VISA | |||||
| 900 METRO CENTER | FOSTER CITY | CA | 94404 | PROCESSING | $2,609,974 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 135 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (5 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| INTEREST ON MEMBER LOANS | 522291 | $494,038,743 | $494,038,743 | |
| INTERCHANGE AND OTHER | 522100 | $89,168,092 | $89,168,092 | |
| FEES AND CHARGES ON ACCOUNTS | 522291 | $40,260,588 | $40,260,588 | |
| LOAN SERVICING RIGHTS | 525990 | $14,013,747 | $14,013,747 | |
| INSURANCE REVENUE | 525990 | $1,843,910 | $1,843,910 |
Total Oth Program Service Rev TotalOthProgramServiceRevGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $540,883 | TotalRevenueColumnAmt |
| Unrelated Business Revenue | $540,883 | UnrelatedBusinessRevenueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $639,865,963 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $35,730,234 | TotalRevenueColumnAmt |
| Exclusion | $35,730,234 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| GAIN ON SALE OF LOANS | 522100 | $16,368,625 | $16,368,625 |
| GAIN ON SALE OREO AND OTHER | 522100 | $82,455 | $82,455 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $16,451,080 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $692,047,277 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $653,932,250 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $2,384,793 | UnrelatedBusinessRevenueAmt |
| Exclusion | $35,730,234 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $95,000 | TotalAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $65,000 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,365,699 | TotalAmt |
Comp Disqual Persons CompDisqualPersonsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $848,084 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $118,919,210 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,533,895 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $12,971,798 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $8,711,675 | TotalAmt |
Fees For Services Management FeesForServicesManagementGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $798,127 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,359,719 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $306,541 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $8,516,901 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $11,632,921 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $18,397,371 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $11,092,598 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,404,430 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $223,317,746 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $8,850,865 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,297,280 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| LOAN SERVICING | $33,062,978 |
| PROVISION FOR LOAN LOSS | $19,106,329 |
| BANK/ CARD SERVICE CHARGE | $16,868,926 |
| MISC EXPENSE | $12,303,710 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $519,826,803 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $26,073,398 | BOYAmt |
| EOY | $24,669,475 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $744,846,533 | BOYAmt |
| EOY | $637,076,021 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $11,657,447 | BOYAmt |
| EOY | $17,415,305 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $71,509,718 | BOYAmt |
| EOY | $68,821,305 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,888,078,133 | BOYAmt |
| EOY | $11,487,835,761 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $40,938,435 | BOYAmt |
| EOY | $43,769,200 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,091,865 | BOYAmt |
| EOY | $8,340,501 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $185,439,056 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $63,994,991 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $117,361,854 | BOYAmt |
| EOY | $121,444,065 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $647,316,403 | BOYAmt |
| EOY | $572,247,939 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $25,429,717 | BOYAmt |
| EOY | $38,526,669 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $100,938,707 | BOYAmt |
| EOY | $99,148,277 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $223,733,457 | BOYAmt |
| EOY | $251,707,740 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $11,905,975,667 | BOYAmt |
| EOY | $13,371,002,258 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $85,881,680 | BOYAmt |
| EOY | $112,724,759 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $63,051,213 | BOYAmt |
| EOY | $58,284,876 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $200,000,000 | BOYAmt |
| EOY | $570,000,000 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,303,188,020 | BOYAmt |
| EOY | $11,249,376,394 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,652,120,913 | BOYAmt |
| EOY | $11,990,386,029 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,253,854,754 | BOYAmt |
| EOY | $1,380,616,229 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,253,854,754 | BOYAmt |
| EOY | $1,380,616,229 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $11,905,975,667 | BOYAmt |
| EOY | $13,371,002,258 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $172,220,474 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $15,219,257 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | -$60,678,256 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | false | AccountantCompileOrReviewInd |
| FS Audited | Yes (true) | 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 (true) | AuditCommitteeInd |
| Federal Grant Audit Required | false | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | false | AgentTrusteeEtcInd |
| Incl Escrow Custodial Acct Liab | Yes (true) | InclEscrowCustodialAcctLiabInd |
| Explanation Provided | Yes (X) | ExplanationProvidedInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $43,526,697 | OtherCostOrOtherBasisAmt |
| Book Value | $43,526,697 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $97,300,862 | OtherCostOrOtherBasisAmt |
| Depreciation | $32,818,194 | DepreciationAmt |
| Book Value | $64,482,668 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $2,417,009 | OtherCostOrOtherBasisAmt |
| Depreciation | $1,644,493 | DepreciationAmt |
| Book Value | $772,516 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $37,736,614 | OtherCostOrOtherBasisAmt |
| Depreciation | $26,803,592 | DepreciationAmt |
| Book Value | $10,933,022 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $4,457,874 | OtherCostOrOtherBasisAmt |
| Depreciation | $2,728,712 | DepreciationAmt |
| Book Value | $1,729,162 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $121,444,065 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | TOTAL DEPOSITS | Desc |
| Amt | $11,249,376,394 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $11,249,376,394 | TotalLiabilityAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE D, PAGE 2, PART IV, LINE 2B | FormAndLineReferenceDesc |
| Explanation | THE CREDIT UNION HOLDS ESCROWED FUNDS FOR THE PAYMENT OF PROPERTY TAXES AND HOMEOWNERS' INSURANCE AS A SERVICE TO OUR MEMBERS WHO HAVE MORTGAGES WITH THE CREDIT UNION OR HAVE MORTGAGES SERVICED BY THE CREDIT UNION. | ExplanationTxt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | false | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (6 entries)
| Business Name Line2RecipientBusinessName/BusinessNameLine2Txt | Address Line1USAddress/AddressLine1Txt | Address Line2USAddress/AddressLine2Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|---|---|
| DAVERNPORT UNIVERSITY FOUNDATION | |||||||||
| DAVENPORT UNIVERSITY FOUNDATION | 6191 KRAFT AVE | 6191 KRAFT AVE | GRAND RAPIDS | MI | 49512 | 382434184 | 501C3 | $15,000 | URBAN EDUCATION |
| BOYS & GIRLS CLUB OF LEE COUNTY | |||||||||
| BOYS & GIRLS CLUB OF LEE COUNTY | PO BOX 62736 | PO BOX 62736 | FORT MYERS | FL | 33906 | 592013870 | 501C3 | $20,000 | FACILTIY UPGRADES |
| JUNIOR ACHIEVEMENT OF MICHIGAN | |||||||||
| JUNIOR ACHIEVEMENT OF MICHIGAN | 4090 LAKE DR SE | 4090 LAKE DR SE | GRAND RAPIDS | MI | 49546 | 381557861 | 501C3 | $25,000 | CAPITAL CAMPAIGN |
| GRAND RAPIDS HOUSING COMMISSION | |||||||||
| GRAND RAPIDS HOUSING COMMISSION | 1420 FULLER AVE | 1420 FULLER AVE | GRAND RAPIDS | MI | 49501 | 382995712 | 501C3 | $15,000 | PROGRAM SUPPORT |
| MENTAL HEALTH FOUNDATION | |||||||||
| MENTAL HEALTH FOUNDATION | 160 68TH ST SUITE 100 | 160 68 ST SUITE 100 | GRAND RAPIDS | MI | 49548 | 382822359 | $10,000 | MOVIE PRODUCTION | |
| CHARITABLE FOUNDATION OF THE ISLAND | |||||||||
| CHARITABLE FOUNDATION OF THE ISLAND | PO BOX 1429 | PO BOX 1429 | SANIBEL | FL | 33957 | 274027791 | $10,000 | VOLUNTEER PROGRAM | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 6 | Total501c3OrgCnt |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp (2 entries)
| Grant TypeGrantTypeTxt | RecipientRecipientCnt | Cash GrantCashGrantAmt |
|---|---|---|
| HUTT COLLEGE SCHOLARSHIPS | 20 | $40,000 |
| ROOTS IN EDUCATION | 25 | $25,000 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE I, PAGE 4, PART IV | FormAndLineReferenceDesc |
| Explanation | HUTT SCHOLARSHIPS ARE AWARDED TO HIGH SCHOOL SENIORS WHO WRITE AN ESSAY AND ARE CHOSEN AS FINALISTS. ROOTS IN EDUCATION GRANTS ARE AWARDED TO 25 EDUCATORS NOMINATED BY INDIVIDUALS AND AWARDED BY PANEL OF JUDGES. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| First Class Or Charter Travel | Yes (X) | FirstClassOrCharterTravelInd |
| Travel For Companions | Yes (X) | TravelForCompanionsInd |
| Club Dues Or Fees | Yes (X) | ClubDuesOrFeesInd |
| Written Policy Ref T And E Expnss | Yes (true) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (true) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | Yes (true) | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (true) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | false | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (16 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt |
|---|---|---|---|---|---|---|
| SANDY JELINSKI | ||||||
| CEO | $1,526,282 | $1,291,331 | $107 | $62,400 | $10,868 | $2,890,988 |
| MATT ADLER | ||||||
| MORTGAGE LO | $1,002,606 | $154 | $29,301 | $10,127 | $1,042,188 | |
| ROY HELLWEGE | ||||||
| PRESIDENT CENTRAL FL | $600,000 | $398,755 | $37,805 | $3,566 | $1,040,126 | |
| ZAC ELLERBROEK | ||||||
| MORTGAGE LO | $945,615 | $1,564 | $10,128 | $957,307 | ||
| ERIC BURGOON | ||||||
| SVP MORTGAGE | $602,122 | $172,890 | $74 | $62,185 | $8,878 | $846,149 |
| CORBIN BUTTLEMAN | ||||||
| VP MORTGAGE SALES | $608,904 | $154 | $39,900 | $10,077 | $659,035 | |
| PETER DANN | ||||||
| EVP CFO | $475,664 | $125,790 | $74 | $39,900 | $10,127 | $651,555 |
| EMIL IZRAILOV | ||||||
| MORTGAGE SALES MANAG | $611,677 | $307 | $23,300 | $9,677 | $644,961 | |
| RAZI QADRI | ||||||
| SVP CIOO | $569,872 | $50 | $39,269 | $3,068 | $612,259 | |
| NORA SWART | ||||||
| SVP CPO | $451,765 | $103,702 | $74 | $37,006 | $5,437 | $597,984 |
| JIM PAQUETTE | ||||||
| MORTGAGE SALES MANAG | $513,531 | $307 | $35 | $32,400 | $7,878 | $554,151 |
| DON BRATT | ||||||
| SVP CMO | $324,544 | $62,125 | $74 | $41,573 | $10,868 | $439,184 |
| JIM MASKELL | ||||||
| SVP CCO | $295,918 | $77,000 | $74 | $38,775 | $11,127 | $422,894 |
| MARK POWELL | ||||||
| SVP CRO | $330,229 | $75,767 | $74 | $11,834 | $3,147 | $421,051 |
| SARA KEMPERMAN | ||||||
| SVP RETAIL OPERATION | $300,208 | $68,879 | $82 | $28,898 | $3,607 | $401,674 |
| ALICIA FORCE | ||||||
| SVP CONSUMER LENDING | $228,784 | $49,288 | $90 | $20,591 | $4,703 | $303,456 |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| SCHEDULE J, PAGE 1, PART I, LINE 4 | ROY HELLWEGE 398,743 0 0 |
| SCHEDULE J, PART III | THE OFFICERS LISTED IN SCHEDULE L PART II PARTICIPATE IN A COLLATERAL ASSIGNMENT SPLIT DOLLAR PLAN. LIFE INSURANCE PREMIUMS ARE PAID ON BEHALF OF THE OFFICERS AND TREATED AS LOANS. THE TOTAL LOAN AMOUNT AS OF 12/31/23 WAS 68,821,305. THE INSURANCE POLICY VALUE PROVIDES SUPPLEMENTAL RETIREMENT INCOME TO THE PLAN PARTICIPANTS. LIFE INSURANCE PREMIUM LOANS ARE ULTIMATELY REPAID FROM THE DEATH BENEFIT OF THE LIFE INSURANCE POLICY. |
Schedule L IRS990ScheduleL
Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp (10 entries)
| Relationship With OrgRelationshipWithOrgTxt | Loan PurposeLoanPurposeTxt | Loan From OrganizationLoanFromOrganizationInd | Original PrincipalOriginalPrincipalAmt | Balance DueBalanceDueAmt | DefaultDefaultInd | Board Or Committee ApprovalBoardOrCommitteeApprovalInd | Written AgreementWrittenAgreementInd |
|---|---|---|---|---|---|---|---|
| SANDY JELINSKI | |||||||
| OFFICER | SPLIT DOLLAR PREMIUM LOAN | Yes (X) | $27,488,120 | $28,760,045 | false | Yes (true) | Yes (true) |
| NORA SWART | |||||||
| OFFICER | SPLIT DOLLAR PREMIUM LOAN | Yes (X) | $9,100,000 | $9,553,548 | false | Yes (true) | Yes (true) |
| PETER DANN | |||||||
| OFFICER | SPLIT DOLLAR PREMIUM LOAN | Yes (X) | $5,425,000 | $5,647,782 | false | Yes (true) | Yes (true) |
| ERIC BURGOON | |||||||
| OFFICER | SPLIT DOLLAR PREMIUM LOAN | Yes (X) | $5,180,000 | $5,481,050 | false | Yes (true) | Yes (true) |
| SARA KEMPERMAN | |||||||
| OFFICER | SPLIT DOLLAR PREMIUM LOAN | Yes (X) | $4,291,000 | $4,485,627 | false | Yes (true) | Yes (true) |
| JIM MASKELL | |||||||
| SVP COMMERCIAL | SPLIT DOLLAR PREMIUM LOAN | Yes (X) | $3,850,000 | $4,002,196 | false | Yes (true) | Yes (true) |
| RAZI QADRI | |||||||
| OFFICER | SPLIT DOLLAR PREMIUM LOAN | Yes (X) | $7,188,000 | $3,976,477 | false | Yes (true) | Yes (true) |
| DON BRATT | |||||||
| OFFICER | SPLIT DOLLAR PREMIUM LOAN | Yes (X) | $3,200,000 | $3,378,101 | false | Yes (true) | Yes (true) |
| ALICIA FORCE | |||||||
| OFFICER | SPLIT DOLLAR PREMIUM LOAN | Yes (X) | $1,890,000 | $1,965,890 | false | Yes (true) | Yes (true) |
| MARK POWELL | |||||||
| OFFICER | SPLIT DOLLAR PREMIUM LOAN | Yes (X) | $1,512,000 | $1,570,589 | false | Yes (true) | Yes (true) |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | $68,821,305 | TotalBalanceDueAmt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (13 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART III | LINE 4A-INTEREST INCOME LINE 4B-DEBIT / CREDIT INTERCHANGE LINE 4C-OVERDRAFT / NSF |
| FORM 990, PAGE 2, PART III, LINE 4D | SEE DETAILS |
| FORM 990, PAGE 6, PART VI, LINE 2 | GRETCHEN TELLMAN ROBERT PARTRIDGE BOARD CHAIR BOARD MEMBER SPOUSE |
| FORM 990, PAGE 6, PART VI, LINE 6 | YES, THE CREDIT UNION HAS MEMBERS |
| FORM 990, PAGE 6, PART VI, LINE 7A | MEMBER SHAREHOLDERS ELECT BOARD MEMBERS |
| FORM 990, PAGE 6, PART VI, LINE 7B | MEMBERS APPROVE BOARD MEMBERS WHEN TERMS EXPIRE. |
| FORM 990, PAGE 6, PART VI, LINE 9 | RAZI QADRI PO BOX 2848 GRAND RAPIDS, MI 49501 ALICIA FORCE PO BOX 2848 GRAND RAPIDS, MI 49501 ROY HELLWEGE PO BOX 2848 GRAND RAPIDS, MI 49501 |
| FORM 990, PAGE 6, PART VI, LINE 11B | THE 990 IS PREPARED BY THE DIRECTOR OF FINANCE AND REVIEWED BY OUR CFO AND CONTROLLER |
| FORM 990, PAGE 6, PART VI, LINE 12C | OFFICERS AND DIRECTORS DISCLOSE INTEREST THAT COULD LEAD TO CONFLICT OF INTEREST ANNUALLY. THESE DOCUMENTS ARE REVIEWED BY INTERNAL AUDIT AND REPORTED TO THE AUDIT COMMITTEE |
| FORM 990, PAGE 6, PART VI, LINE 15A | COMPENSATION REVIEWS OF ALL OFFICER AND KEY EXECUTIVES ARE PERFORMED AT LEAST ANNUALLY BY HUMAN RESOURCES AND REVIEWED BY THE EXECUTIVE COMMITTEE MADE UP OF BOARD MEMBERS |
| FORM 990, PAGE 6, PART VI, LINE 15B | THE BOARD OF DIRECTORS APPROVES OTHER OFFICERS AND KEY EMPLOYEES, AND COMPENSATION IS SET BY CEO |
| FORM 990, PAGE 6, PART VI, LINE 19 | THE ORGANIZATIONS DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. |
| FORM 990, PART XI, LINE 9 | ADJUSTMENT TO OTHER COMPREHENSIVE INCOME 0 LIFE SAVINGS RESERVE 0 EQUITY ADJ - CECL -61,230,180 OCI 551,924 TOTAL -60,678,256 |
Schedule R IRS990ScheduleR
Id Disregarded Entities IdDisregardedEntitiesGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LAKE MICHIGAN FINANCIAL GROUP | BusinessNameLine1Txt |
| Business Name Line2 | LAKE MICHIGAN FINANCIAL GROUP | BusinessNameLine2Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 2088 | AddressLine1Txt |
| Address Line2 | PO BOX 2088 | AddressLine2Txt |
| City | GRAND RAPIDS | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 49501 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 454172202 | EIN |
| Primary Activities | FINANCIAL | PrimaryActivitiesTxt |
| Legal Domicile State | MI | LegalDomicileStateCd |
| Total Income | $2,024,605 | TotalIncomeAmt |
| End Of Year Assets | $21,762,262 | EndOfYearAssetsAmt |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LMCU | BusinessNameLine1Txt |
| Business Name Line2 | LAKE MICHIGAN CREDIT UNION | BusinessNameLine2Txt |