SUNMARK CREDIT UNION: Form 990, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- SUNMARK CREDIT UNION (EIN 14-1364933)
- Tax period
- 2023-01-01 to 2023-12-31
- Filed
- 2024-11-15
- IRS object ID
- 202403209349302295
- Schema version
- 2023v5.1
- 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 | 2024-11-15T07:16:01-06:00 | ReturnTs |
| Tax Period End | 2023-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 410746749 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CLIFTONLARSONALLEN LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 109 N MAIN STREET SUITE 200 | AddressLine1Txt |
| City | AUSTIN | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 55912 | 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 | 141364933 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SUNMARK CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | SUNM | BusinessNameControlTxt |
| Phone | 8667866275 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1187 TROY SCHENECTADY ROAD | AddressLine1Txt |
| City | LATHAM | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 12110 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | VIK MUKTAVARAM | PersonNm |
| Person Title | CHIEF RISK OFFICER/INTERIM CFO | PersonTitleTxt |
| Phone | 8667866275 | PhoneNum |
| Signature | 2024-11-12 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | 0 | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | TANYA MEDGAARDEN | PreparerPersonNm |
| PTIN | P01717240 | PTIN |
| Phone | 5074347000 | PhoneNum |
| Preparation | 2024-11-13 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2024-10-15 13:58:12Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | JERILEE BEAUDOIN | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1187 TROY SCHENECTADY ROAD | AddressLine1Txt |
| City | LATHAM | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 12110 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $140,643,223 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.SUNMARK.ORG | WebsiteAddressTxt |
| Type Of Organization Other | Yes (X) | TypeOfOrganizationOtherInd |
| Other Organization Dsc | CREDIT UNION | OtherOrganizationDsc |
| Formation | 1937 | FormationYr |
| Legal Domicile State | NY | LegalDomicileStateCd |
| Activity Or Mission | CREATING VALUE TO ENRICH THE LIVES OF OUR MEMBERS BY PROVIDING FINANCIAL PRODUCTS, EDUCATION AND SERVICES TAILORED TO MEET THEIR FINANCIAL GOALS. | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 9 | VotingMembersIndependentCnt |
| Total Employee | 346 | TotalEmployeeCnt |
| Total Volunteers | 16 | TotalVolunteersCnt |
| Total Gross UBI | $99,494 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $58,126 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $59,976,152 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $71,247,885 | CYProgramServiceRevenueAmt |
| PY Investment Income | $2,515,835 | PYInvestmentIncomeAmt |
| CY Investment Income | $1,905,772 | CYInvestmentIncomeAmt |
| PY Other Revenue | -$39,545 | PYOtherRevenueAmt |
| CY Other Revenue | -$270,879 | CYOtherRevenueAmt |
| PY Total Revenue | $62,452,442 | PYTotalRevenueAmt |
| CY Total Revenue | $72,882,778 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $246,800 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $72,500 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $3,516,559 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $12,351,896 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $25,347,249 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $24,298,926 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $29,121,318 | PYOtherExpensesAmt |
| CY Other Expenses | $30,846,567 | CYOtherExpensesAmt |
| PY Total Expenses | $58,231,926 | PYTotalExpensesAmt |
| CY Total Expenses | $67,569,889 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $4,220,516 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $5,312,889 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $1,121,756,722 | TotalAssetsBOYAmt |
| Total Assets EOY | $1,157,564,809 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $1,037,211,765 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $1,067,888,408 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $84,544,957 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $89,676,401 | NetAssetsOrFundBalancesEOYAmt |
| Mission | CREATING VALUE TO ENRICH THE LIVES OF OUR MEMBERS BY PROVIDING FINANCIAL PRODUCTS, EDUCATION AND SERVICES TAILORED TO MEET THEIR FINANCIAL GOALS. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | SUNMARK CREDIT UNION OFFERS A VARIETY OF LENDING PROGRAMS DESIGNED TO MEET THE FINANCING NEEDS OF OUR MEMBERS. THESE PRODUCTS INCLUDE: MORTGAGES, VEHICLES, COMMERCIAL, CREDIT CARDS AND PERSONAL LOANS. DURING 2023, THE CREDIT UNION GRANTED OVER 40,000 LOW INTEREST RATE LOANS TOTALING MORE THAN $290 MILLION. SUNMARK MAKES IT CONVENIENT FOR MEMBERS TO OBTAIN FINANCING BY APPLYING ONLINE, VISITING ONE OF OUR 15 BRANCH LOCATIONS, OR CALLING OUR MEMBER SERVICE CENTER. AS MEMBER ADVOCATES, SUNMARK OFFERS WORKSHOPS TO EDUCATE MEMBERS ON TOPICS SUCH AS: BUDGETING, MANAGING DEBT, AND HOME BUYING WORKSHOPS. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | SUNMARK CREDIT UNION OFFERS VARIOUS DEPOSIT PRODUCTS TO SUPPORT THE FINANCIAL HEALTH AND WELL-BEING OF EACH MEMBER. THESE PRODUCTS PROVIDE COMPETITIVE DIVIDEND RATES, 24/7 ACCESS TO FUNDS AND EASY TRANSFER OPTIONS. WE OFFER MOBILE BANKING, DEBIT CARDS, ACCESS TO NEARLY 30,000 ATMS AND 5,000 PLUS SHARED BRANCHING LOCATIONS ACROSS THE COUNTRY. SUNMARK SERVES OVER 89,000 MEMBERS IN 14 COUNTIES IN THE CAPITAL DISTRICT AND HUDSON VALLEY REGION OF NEW YORK. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | 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 | 0 | 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 | Yes (1) | 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 | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 16442 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 346 | 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 |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | 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 | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | 0 | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | 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 | VIK MUKTAVARAM | PersonNm |
| Phone | 8667866275 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1187 TROY-SCHENECTADY RD | AddressLine1Txt |
| City | LATHAM | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 12110 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (27 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| DAWN DOHERTY | ||||||||
| CHAIRPERSON | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| KRISTEN MYERS | ||||||||
| VICE CHAIRPERSON | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| MATT CUSACK | ||||||||
| SECRETARY | 1.00 | Yes (X) | Yes (X) | $1,683 | $0 | $0 | ||
| ED AIDALA | ||||||||
| TREASURER | 1.00 | Yes (X) | Yes (X) | $3,215 | $0 | $0 | ||
| AMY JOHNSON | ||||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| DAN HEIM | ||||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| RALPH LEBARRON | ||||||||
| DIRECTOR | 1.00 | Yes (X) | $1,495 | $0 | $0 | |||
| PARKER POWELL | ||||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| MATT RHODES | ||||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| BRIAN HUGICK | ||||||||
| ASSOCIATE MEMBER | 1.00 | Yes (X) | $1,553 | $0 | $0 | |||
| FRANK DEGRAW | ||||||||
| PRESIDENT/CEO | 40.00 | Yes (X) | $536,457 | $0 | $8,492 | |||
| JOHANNA ROBBINS | ||||||||
| CHIEF FINANCIAL OFFICER | 40.00 | Yes (X) | $282,576 | $0 | $3,852 | |||
| JERILEE BEAUDOIN | ||||||||
| CHIEF LENDING OFFICER | 40.00 | Yes (X) | $237,348 | $0 | $5,518 | |||
| ANTOINETTE LEBRON | ||||||||
| EVP/COO | 40.00 | Yes (X) | $220,152 | $0 | $1,678 | |||
| VIKAS MUKTAVARAM | ||||||||
| CRO | 40.00 | $259,244 | $0 | $0 | Yes (X) | |||
| PAUL KELLY | ||||||||
| CHIEF HUMAN RESOURCES OFFI | 40.00 | $229,424 | $0 | $2,783 | Yes (X) | |||
| DARRYL ENFIELD | ||||||||
| CHIEF INFORMATION OFFICER | 40.00 | $220,881 | $0 | $2,049 | Yes (X) | |||
| AMBER COOLEEN | ||||||||
| CHIEF MARKETING OFFICER | 40.00 | $174,798 | $0 | $4,845 | Yes (X) | |||
| CHRIS TANTAKIS | ||||||||
| VP MEMBER RELATIONS | 40.00 | $170,838 | $0 | $3,907 | Yes (X) | |||
| KAREN RODICK | ||||||||
| CHIEF AUDIT EXECUTIVE | 40.00 | $157,701 | $0 | $4,236 | Yes (X) | |||
| DAWN DONOVAN | ||||||||
| VP OF OPERATIONS | 40.00 | $152,984 | $0 | $4,454 | Yes (X) | |||
| JAYANT SINGH | ||||||||
| VP BUSINESS SERVICES | 40.00 | $152,859 | $0 | $2,478 | Yes (X) | |||
| MICHAEL MATHUSA | ||||||||
| AVP OF SIS AND LSA | 40.00 | $196,010 | $0 | $6,122 | Yes (X) | |||
| JOHN NOLAN | ||||||||
| AVP OF IT | 40.00 | $152,238 | $0 | $4,684 | Yes (X) | |||
| ANTHONY LIGUORI | ||||||||
| SENIOR PROPERTY AND CASUALTY INS PRODUCER | 40.00 | $150,841 | $0 | $2,393 | Yes (X) | |||
| MELISSA SAVAGE | ||||||||
| VP MORTGAGE LENDING | 40.00 | $146,468 | $0 | $4,396 | Yes (X) | |||
| ANDREW J RUBINO | ||||||||
| MORTGAGE ORIGINATOR | 40.00 | $146,801 | $0 | $3,094 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $3,595,566 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $64,981 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 38 | 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 |
|---|---|---|---|---|---|
| NCR CORPORATION | |||||
| PO BOX 740641 | LOS ANGELES | CA | 900740641 | PROVIDES FLEXIBLE BANKING CONNECTIONS | $2,023,660 |
| MASTERCARD | |||||
| 2000 PURCHASE STREET | PURCHASE | NY | 10577 | CARD PAYMENT & ATM SERVICES | $1,907,054 |
| FISERV INC | |||||
| PO BOX 934057 | ATLANTA | GA | 311934057 | PROVIDES FINANCIAL TECHNOLOGY | $1,346,708 |
| CAPITAL INTERMEDIARY LLC | |||||
| 50 CHAPEL ST | ALBANY | NY | 12207 | TITLE INSURANCE SERVICES | $780,134 |
| CONVERGINT TECHNOLOGIES LLC | |||||
| 4 RESEARCH WAY | BETHERL | CT | 06801 | INSTALLATION, DESIGN & SERVICE FOR INTEG | $620,812 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 35 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| INTEREST ON LOANS | 522100 | $51,275,783 | $51,275,783 | |
| FEE INCOME | 522100 | $11,003,998 | $10,904,504 | $99,494 |
| OTHER OPERATING INCOM | 522100 | $8,968,104 | $8,968,104 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $71,247,885 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,103,690 | TotalRevenueColumnAmt |
| Exclusion | $1,103,690 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $24,294,615 | SecuritiesAmt |
| Other | $44,267,912 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $24,427,884 | SecuritiesAmt |
| Other | $43,332,561 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | -$133,269 | SecuritiesAmt |
| Other | $935,351 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $802,082 | TotalRevenueColumnAmt |
| Exclusion | $802,082 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | NON-OPERATING INCOME | Desc |
| Business | 522100 | BusinessCd |
| Total Revenue Column | -$270,879 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | -$270,879 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | -$270,879 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $72,882,778 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $70,877,512 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $99,494 | UnrelatedBusinessRevenueAmt |
| Exclusion | $1,905,772 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $72,500 | TotalAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $12,351,896 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,847,500 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $16,021,364 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,114,100 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,829,271 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,486,691 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $52,190 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $155,795 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,467,543 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,531,139 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $9,464,966 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,030,697 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $503,778 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,521,278 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,817,933 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| PROVISION FOR CREDIT LO | $4,308,664 |
| LOAN SERVICING EXPENSE | $3,689,560 |
| MISC. OPERATING EXPENSE | $220,977 |
| OPERATING FEES | $82,047 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $67,569,889 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,772,625 | BOYAmt |
| EOY | $11,004,458 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $20,692,868 | BOYAmt |
| EOY | $20,608,873 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $13,106,710 | BOYAmt |
| EOY | $14,376,577 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,002,649,389 | BOYAmt |
| EOY | $1,031,421,793 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,458,491 | BOYAmt |
| EOY | $3,378,435 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $49,808,097 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $21,625,063 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $25,762,488 | BOYAmt |
| EOY | $28,183,034 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,533,843 | BOYAmt |
| EOY | $10,513,275 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,439,667 | BOYAmt |
| EOY | $7,159,334 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $21,367 | BOYAmt |
| EOY | $9,151 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $29,319,274 | BOYAmt |
| EOY | $30,909,879 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,121,756,722 | BOYAmt |
| EOY | $1,157,564,809 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $11,142,052 | BOYAmt |
| EOY | $15,353,530 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,902,697 | BOYAmt |
| EOY | $46,500,000 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,015,167,016 | BOYAmt |
| EOY | $1,006,034,878 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,037,211,765 | BOYAmt |
| EOY | $1,067,888,408 | 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 | $84,544,957 | BOYAmt |
| EOY | $89,676,401 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $84,544,957 | BOYAmt |
| EOY | $89,676,401 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,121,756,722 | BOYAmt |
| EOY | $1,157,564,809 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $5,312,889 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | -$181,445 | 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 D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $6,385,729 | OtherCostOrOtherBasisAmt |
| Book Value | $6,385,729 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $20,945,138 | OtherCostOrOtherBasisAmt |
| Depreciation | $6,474,128 | DepreciationAmt |
| Book Value | $14,471,010 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $883,805 | OtherCostOrOtherBasisAmt |
| Depreciation | $687,269 | DepreciationAmt |
| Book Value | $196,536 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $18,761,678 | OtherCostOrOtherBasisAmt |
| Depreciation | $14,240,989 | DepreciationAmt |
| Book Value | $4,520,689 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $2,831,747 | OtherCostOrOtherBasisAmt |
| Depreciation | $222,677 | DepreciationAmt |
| Book Value | $2,609,070 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $28,183,034 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)
| DescDesc | AmtAmt |
|---|---|
| NONMEMBER DEPOSITS | $17,146,000 |
| MEMBER SHARES OF ALL TYPES | $988,888,878 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $1,006,034,878 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $72,707,392 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $72,707,392 | RevenueSubtotalAmt |
| Other Revenues Not Included | $175,386 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $175,386 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $72,882,778 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $67,394,499 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $67,394,499 | ExpensesSubtotalAmt |
| Other Expenses Not Included | $175,390 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $175,390 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $67,569,889 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART X, LINE 2: | SUNMARK IS A STATE-CHARTERED CREDIT UNION. STATE CHARTERED CREDIT UNIONS ARE EXEMPT FROM FEDERAL AND STATE INCOME TAX UNDER INTERNAL REVENUE SERVICE CODE SECTION 501(C)14. THE CREDIT UNION HAS FILED TAX RETURNS IN THE PAST FOR ACTIVITIES IT HAS DEEMED TAXABLE, INCLUDING UNRELATED BUISNESS INCOME TAXES (UBIT). THE CREDIT UNION EVALUATED ITS TAX POSITION AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF DECEMBER 31, 2023 AND DECEMBER 31, 2022. THE CREDIT UNION'S 2020 THROUGH 2023 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITITIES. THE INCOME FROM THE CUSO, ORGANIZED AS AN LLC, FLOWS THROUGH TO THE CREDIT UNION AND, THEREFORE, IS NOT SUBJECT TO FEDERAL AND STATE INCOME TAXES. |
| PART XI, LINE 4B - OTHER ADJUSTMENTS: | ROUNDING 8. WRITEDOWN OF BUSINESS OREO 175,378. |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | ROUNDING 12. WRITEDOWN OF BUSINESS OREO 175,378. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Non Cash AssistanceNonCashAssistanceAmt | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|---|
| SUNMARK CHARITABLE COMMUNITY FOUNDATION | ||||||||
| 1187 TROY SCHENECTADY RD | LATHAM | NY | 12110 | 473713204 | 501(C)(3) | $55,000 | $0 | CHARITABLE DONATION |
| CAPITAL REGION CHAMBER FOUNDATION | ||||||||
| 5 COMPUTER DRIVE SOUTH | ALBANY | NY | 12205 | 141736856 | 501(C)(3) | $17,500 | $0 | SPONSORSHIP OF 2023 ENTREPRENEURIAL BOOT CAMP |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 2 | Total501c3OrgCnt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | ALL GRANTS ARE TRACKED WITHIN INTERNAL SYSTEMS AND REVIEWED THROUGH THE ANNUAL BUDGET PROCESS AND ROUTINE DEPARTMENT MONITORING. SUNMARK HAS A STANDARD PROCESS AND ESTABLISHED CRITERIA FOR GRANTS. FIRST, GRANT RECIPIENTS MUST SERVE A POPULATION WITHIN OUR 14-COUNTY CHARTER AREA. NEXT, FUNDS MUST BE USED TO SUPPORT FINANCIAL LITERACY/EDUCATION AND/OR IMPROVE THE QUALITY OF LIFE FOR THOSE IN NEED. ALL ORGANIZATIONS ARE REQUIRED TO PROVIDE FORM W-9. NON-PROFIT STATUS OF ORGANIZATIONS IS VALIDATED THROUGH PUBLICLY AVAILABLE RESOURCES SUCH AS THE NY STATE CHARITIES BUREAU, CANDID/GUIDESTAR, OR IRS PUBLICATION 78. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | Yes (X) | TravelForCompanionsInd |
| Club Dues Or Fees | Yes (X) | ClubDuesOrFeesInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | Yes (1) | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (1) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (16 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FRANK DEGRAW | ||||||||||||||
| PRESIDENT/CEO | $434,164 | $0 | $74,333 | $0 | $27,960 | $0 | $8,492 | $0 | $0 | $0 | $544,949 | $0 | $0 | $0 |
| JOHANNA ROBBINS | ||||||||||||||
| CHIEF FINANCIAL OFFICER | $240,554 | $0 | $14,062 | $0 | $27,960 | $0 | $3,852 | $0 | $0 | $0 | $286,428 | $0 | $0 | $0 |
| VIKAS MUKTAVARAM | ||||||||||||||
| CRO | $248,159 | $0 | $5,625 | $0 | $5,460 | $0 | $0 | $0 | $0 | $0 | $259,244 | $0 | $0 | $0 |
| JERILEE BEAUDOIN | ||||||||||||||
| CHIEF LENDING OFFICER | $218,900 | $0 | $12,988 | $0 | $5,460 | $0 | $5,518 | $0 | $0 | $0 | $242,866 | $0 | $0 | $0 |
| PAUL KELLY | ||||||||||||||
| CHIEF HUMAN RESOURCES OFFI | $210,300 | $0 | $13,664 | $0 | $5,460 | $0 | $2,783 | $0 | $0 | $0 | $232,207 | $0 | $0 | $0 |
| DARRYL ENFIELD | ||||||||||||||
| CHIEF INFORMATION OFFICER | $202,308 | $0 | $13,113 | $0 | $5,460 | $0 | $2,049 | $0 | $0 | $0 | $222,930 | $0 | $0 | $0 |
| ANTOINETTE LEBRON | ||||||||||||||
| EVP/COO | $55,159 | $0 | $19,124 | $0 | $145,869 | $0 | $1,678 | $0 | $0 | $0 | $221,830 | $0 | $0 | $0 |
| MICHAEL MATHUSA | ||||||||||||||
| AVP OF SIS AND LSA | $59,976 | $0 | $136,034 | $0 | $0 | $0 | $6,122 | $0 | $0 | $0 | $202,132 | $0 | $0 | $0 |
| AMBER COOLEEN | ||||||||||||||
| CHIEF MARKETING OFFICER | $158,538 | $0 | $10,800 | $0 | $5,460 | $0 | $4,845 | $0 | $0 | $0 | $179,643 | $0 | $0 | $0 |
| CHRIS TANTAKIS | ||||||||||||||
| VP MEMBER RELATIONS | $123,897 | $0 | $10,830 | $0 | $36,111 | $0 | $3,907 | $0 | $0 | $0 | $174,745 | $0 | $0 | $0 |
| KAREN RODICK | ||||||||||||||
| CHIEF AUDIT EXECUTIVE | $133,682 | $0 | $9,079 | $0 | $14,940 | $0 | $4,236 | $0 | $0 | $0 | $161,937 | $0 | $0 | $0 |
| DAWN DONOVAN | ||||||||||||||
| VP OF OPERATIONS | $138,564 | $0 | $8,960 | $0 | $5,460 | $0 | $4,454 | $0 | $0 | $0 | $157,438 | $0 | $0 | $0 |
| JOHN NOLAN | ||||||||||||||
| AVP OF IT | $143,952 | $0 | $8,286 | $0 | $0 | $0 | $4,684 | $0 | $0 | $0 | $156,922 | $0 | $0 | $0 |
| JAYANT SINGH | ||||||||||||||
| VP BUSINESS SERVICES | $138,034 | $0 | $9,365 | $0 | $5,460 | $0 | $2,478 | $0 | $0 | $0 | $155,337 | $0 | $0 | $0 |
| ANTHONY LIGUORI | ||||||||||||||
| SENIOR PROPERTY AND CASUALTY INS PRO | $46,560 | $0 | $104,281 | $0 | $0 | $0 | $2,393 | $0 | $0 | $0 | $153,234 | $0 | $0 | $0 |
| MELISSA SAVAGE | ||||||||||||||
| VP MORTGAGE LENDING | $132,279 | $0 | $8,729 | $0 | $5,460 | $0 | $4,396 | $0 | $0 | $0 | $150,864 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART I, LINE 1A | VP OF BUSINESS SERVICES HAS ANNUAL GOLF CLUB DUES IN THE AMOUNT OF $4930 USED FOR BUSINESS RELATIONS. BOARD MEMBERS ARE NOT COMPENSATED. BOARD MEMBERS MAY ATTEND CONFERENCES. A COMPANION MAY TRAVEL WITH A BOARD MEMBER TO A CONFERENCE AND THIS IS INCLUDED IN THE BOARD MEMBER'S ANNUAL FORM 1099. |
| PART I, LINES 4A-B | NAME: FRANK DEGRAW, DESCRIPTION: 457 B PLAN, CURRENT YEAR AMOUNT: $22,500. PLAN DESCRIPTION: 457 PLAN NAME: JOHANNA ROBBINS, DESCRIPTION: 457 B PLAN, CURRENT YEAR AMOUNT: $22,500. PLAN DESCRIPTION: 457 PLAN NAME: ANTOINETTE LEBRON, DESCRIPTION: SEVERENCE, CURRENT YEAR AMOUNT: $144,609. PLAN DESCRIPTION: SEVERENCE NAME: CHRIS TANTAKIS, DESCRIPTION: SEVERENCE, CURRENT YEAR AMOUNT: $31,806. PLAN DESCRIPTION: SEVERENCE |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (10 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | MEMBERS OF THE CREDIT UNION LIVE, WORK, GO TO SCHOOL OR WORSHIP IN THE 14 COUNTY AREA THE CREDIT UNION SERVES. THIS INCLUDES EMPLOYEES OF SELECT EMPLOYER GROUP MEMBERS AND FAMILY MEMBERS OF ELIGIBLE INDIVIDUALS. |
| FORM 990, PART VI, SECTION A, LINE 7A | MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO ELECT MEMBERS OF THE ORGANIZATION'S GOVERNING BODY. |
| FORM 990, PART VI, SECTION A, LINE 7B | A MEMBER VOTE IS REQUIRED TO APPOINT DIRECTORS AND A SPECIAL MEETING CAN BE CALLED FOR MEMBERS TO VOTE. |
| FORM 990, PART VI, SECTION A, LINE 8B | THERE ARE NO COMMITTEES WHO HAVE AUTHORITY TO ACT ON THE BEHALF OF THE GOVERNING BODY. THE SUPERVISORY COMMITTEE, HOWEVER, IS MADE UP OF FIVE (5) INDIVIDUALS APPOINTED BY THE CREDIT UNION BOARD OF DIRECTORS. THE FUNCTION OF THE COMMITTEE IS TO CONDUCT AUDITS OF THE CREDIT UNION'S FINANCIAL RECORDS AT LEAST ONCE A YEAR. THE COMMITTEE MAY ALSO PERIODICALLY REVIEW THE POLICIES, PROCEDURES AND OPERATIONS OF THE CREDIT UNION, AND MAKE RECOMMENDATIONS TO THE BOARD OF DIRECTORS. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE FORM 990 IS REVIEWED BY THE INTERIM CFO AND THE BOARD CHAIRPERSON AND THEN PROVIDED TO THE ENTIRE BOARD BEFORE BEING FILED. |
| FORM 990, PART VI, SECTION B, LINE 12C | ANNUALLY THE BOARD MUST ACKNOWLEDGE AND DISCLOSE ANY CONFLICT OF INTEREST PER THE CODE OF ETHICAL CONDUCT. ALL EMPLOYEES ARE REQUIRED TO READ THE ORGANIZATION'S CONFLICT OF INTEREST POLICY AND AGREE THAT THEY WILL COMPLY WITH THE POLICY. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE PRESIDENT/CEO'S COMPENSATION IS DETERMINED BY THE SUNMARK CREDIT UNION'S COMPENSATION COMMITTEE BY USING A CONSULTANT, INDUSTRY-SPECIFIC COMPENSATION STUDIES, AND/OR OTHER DATA AVAILABLE IN THE PUBLIC ARENA INCLUDING PROXY STATEMENTS & OTHER FORMS 990 FOR CREDIT UNIONS OF SIMILAR SIZE. THE COMPENSATION COMMITTEE MAKES A FORMAL RECOMMENDATION TO THE BOARD OF DIRECTORS FOR FINAL APPROVAL. THE COMPENSATION COMMITTEE PROVIDES A COMPENSATION PHILOSOPHY STATEMENT WHICH IS USED TO DETERMINE EXECUTIVE LEVEL POSITIONS BASED ON THE ABOVE MENTIONED SOURCES. THE CEO IS DELEGATED THE AUTHORITY TO SET EXECUTIVE SALARIES WITHIN THIS ESTABLISHED FRAMEWORK. COMPENSATION FOR ALL OTHER KEY EMPLOYEES IS DETERMINED BY THE PRESIDENT/CEO USING UPDATED SALARY RANGES AND BENCHMARKING DATA. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2023. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ORGANIZATION MAKES THEIR GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. |
| FORM 990, PART XI, LINE 9: | CHANGE IN OTHER COMPREHENSIVE INCOME 510,335. CECL ADJUSTMENT -691,780. |
| PART XII, LINE 2C | THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. |
Schedule R IRS990ScheduleR
Id Disregarded Entities IdDisregardedEntitiesGrp (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Total IncomeTotalIncomeAmt | End Of Year AssetsEndOfYearAssetsAmt | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt |
|---|---|---|---|---|---|---|---|---|---|
| HORIZON SERVICE ORGANIZATION LLC | |||||||||
| 1187 TROY SCHENECTADY ROAD | LATHAM | NY | 12110 | 272298670 | HOLDING COMPANY FOR SUNMARK INVESTMENT IN CUSO ENTITIES | NY | $620,643 | $4,135,645 | SUNMARK CREDIT UNION |
| SIS INSURANCE & FINANCIAL LLC | |||||||||
| 1187 TROY SCHENECTADY ROAD | LATHAM | NY | 12110 | 274601397 | INSURANCE SERVICES | NY | $1,551,522 | $3,201,428 | HORIZON SERVICE ORGANIZATION LLC |
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SUNMARK CHARITABLE COMMUNITY FOUNDATION | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1187 TROY SCHENECTADY ROAD | AddressLine1Txt |
| City | LATHAM | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 12110 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 473713204 | EIN |
| Primary Activities | FINANCIAL CONTRIBUTIONS, IN-KIND SERVICES AND VOLUNTEER SUPPORT | PrimaryActivitiesTxt |
| Legal Domicile State | NY | LegalDomicileStateCd |
| Exempt Code Section | 501(C)(3) | ExemptCodeSectionTxt |
| Public Charity Status | PF | PublicCharityStatusTxt |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SUNMARK CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Controlled Organization | Yes (1) | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | Yes (1) | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | Yes (1) | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | Yes (1) | SharingOfFacilitiesInd |
| Paid Employees Sharing | Yes (1) | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | Yes (1) | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp (2 entries)
| Transaction TypeTransactionTypeTxt | InvolvedInvolvedAmt | Method Of Amount DeterminationMethodOfAmountDeterminationTxt |
|---|---|---|
| SUNMARK CHARITABLE COMMUNITY FOUNDATION | ||
| B | $55,000 | CHECK PAYMENTS |
| SUNMARK CHARITABLE COMMUNITY FOUNDATION | ||
| O | $74,177 | PAYROLL RECORDS |