BEACON CREDIT UNION: Form 990, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- BEACON CREDIT UNION (EIN 35-6025844)
- Tax period
- 2023-01-01 to 2023-12-31
- Filed
- 2024-11-13
- IRS object ID
- 202413199349302121
- 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 | 2024-11-13T16:42:28-07:00 | ReturnTs |
| Tax Period End | 2023-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 440160260 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Forvis Mazars LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 820 Massachusetts Ave | AddressLine1Txt |
| Address Line2 | Suite 1370 | AddressLine2Txt |
| City | Indianapolis | CityNm |
| State Abbreviation | IN | StateAbbreviationCd |
| ZIP | 46204 | 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 | 356025844 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BEACON CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | BEAC | BusinessNameControlTxt |
| Phone | 2605637443 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 586 S Wabash Street | AddressLine1Txt |
| City | Wabash | CityNm |
| State Abbreviation | IN | StateAbbreviationCd |
| ZIP | 46992 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Steven Caryer | PersonNm |
| Person Title | Chief Financial Officer | PersonTitleTxt |
| Phone | 2605637443 | PhoneNum |
| Signature | 2024-11-13 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| 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 | Michael Summers | PreparerPersonNm |
| PTIN | P00838533 | PTIN |
| Phone | 3173833663 | 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 | Dustin Cuttriss | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 586 S Wabash Street | AddressLine1Txt |
| City | Wabash | CityNm |
| State Abbreviation | IN | StateAbbreviationCd |
| ZIP | 46992 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $62,364,536 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | www.beaconcu.org | WebsiteAddressTxt |
| Type Of Organization Other | Yes (X) | TypeOfOrganizationOtherInd |
| Other Organization Dsc | State Chartered Credit Union | OtherOrganizationDsc |
| Formation | 1931 | FormationYr |
| Legal Domicile State | IN | LegalDomicileStateCd |
| Activity Or Mission | This organization is a credit union exempt under IRS Code 501(c) (14) (A). It is a Cooperative Financial Institution. | ActivityOrMissionDesc |
| Voting Members Governing Body | 7 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 7 | VotingMembersIndependentCnt |
| Total Employee | 309 | TotalEmployeeCnt |
| Total Volunteers | 10 | TotalVolunteersCnt |
| Total Gross UBI | $335,400 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $25,923 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $42,873,914 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $48,734,269 | CYProgramServiceRevenueAmt |
| PY Investment Income | $9,250,187 | PYInvestmentIncomeAmt |
| CY Investment Income | $12,921,555 | CYInvestmentIncomeAmt |
| PY Other Revenue | $647,305 | PYOtherRevenueAmt |
| CY Other Revenue | $634,269 | CYOtherRevenueAmt |
| PY Total Revenue | $52,771,406 | PYTotalRevenueAmt |
| CY Total Revenue | $62,290,093 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $100,000 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $28,646 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $24,729,380 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $22,513,445 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $22,881,373 | PYOtherExpensesAmt |
| CY Other Expenses | $35,441,114 | CYOtherExpensesAmt |
| PY Total Expenses | $47,710,753 | PYTotalExpensesAmt |
| CY Total Expenses | $57,983,205 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $5,060,653 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $4,306,888 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $1,501,055,945 | TotalAssetsBOYAmt |
| Total Assets EOY | $1,517,175,065 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $1,352,447,520 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $1,357,399,599 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $148,608,425 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $159,775,466 | NetAssetsOrFundBalancesEOYAmt |
| Mission | This organization is a credit union exempt under IRS Code 501 (c) (14) (A). It is a Cooperative Financial Institution. The organization provides fair and competitive financial products responsive to the needs of the member-owners. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | Beacon provides multiple types of loan products responsive to the needs of its members including Agriculture loans, Mortgage loans, and Consumer loans. It has 10,950 individual loans totaling $1,005,544,512 | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Beacon Credit Union provides a superior member service experience by offering competitive deposit rates and deposit products to its members. It has 102,997 Savings accounts totaling $1,260,730,817 | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Beacon Credit Union provides 19 Full Service branches, 7 Loan Production offices and 2 back office facilities to meet the operational demands of over 47,000 members. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Prog Srvc Expense | $0 | TotalOtherProgSrvcExpenseAmt |
| Total Other Prog Srvc Grant | $0 | TotalOtherProgSrvcGrantAmt |
| Total Other Prog Srvc Revenue | $0 | TotalOtherProgSrvcRevenueAmt |
| Total Program Service Expenses | $0 | TotalProgramServiceExpensesAmt |
| 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 | Yes (1) | ReportProgramRelatedInvstInd |
| Report Other Assets | Yes (1) | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | 0 | 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 | 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 | 57319 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 309 | 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 | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 7 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 7 | 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 | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | Yes (1) | LocalChaptersInd |
| Policies Reference Chapters | Yes (1) | PoliciesReferenceChaptersInd |
| 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 | 0 | 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 |
| States Where Copy Of Return Is Fld | IN | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Steve Caryer | PersonNm |
| Phone | 2605637443 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 586 S Wabash Street | AddressLine1Txt |
| City | Wabash | CityNm |
| State Abbreviation | IN | StateAbbreviationCd |
| ZIP | 46992 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (21 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd | Former Ofcr Director TrusteeFormerOfcrDirectorTrusteeInd | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd |
|---|---|---|---|---|---|---|---|---|---|
| Dustin Cuttriss | |||||||||
| President/CEO | 40 | 1 | Yes (X) | $649,966 | $0 | $55,076 | |||
| Dan Sparling | |||||||||
| VP of Finance | 40 | 0 | $446,994 | $0 | $119,954 | Yes (X) | |||
| Kevin Willour | |||||||||
| Former President/CEO left 01/2023 | 40 | 0 | $373,497 | $0 | $76,011 | Yes (X) | |||
| Todd Beehler | |||||||||
| Chief Strategy Officer | 40 | 0 | Yes (X) | $281,845 | $0 | $89,680 | |||
| Ryan Showley | |||||||||
| Chief Information Officer | 40 | 0 | Yes (X) | $244,989 | $0 | $75,073 | |||
| Steve Caryer | |||||||||
| Chief Financial Officer | 40 | 1.00 | Yes (X) | $293,697 | $0 | $24,038 | |||
| Lori Eltzroth | |||||||||
| Chief Admin Officer | 40 | 0 | Yes (X) | $231,449 | $0 | $69,255 | |||
| Dawn Aschleman | |||||||||
| Chief Operations Officer | 40 | 0 | Yes (X) | $241,784 | $0 | $44,096 | |||
| Trisha Loker | |||||||||
| Chief Credit Officer | 40 | 0 | Yes (X) | $214,061 | $0 | $35,768 | |||
| Tiffany Haupert | |||||||||
| Investment Services Manager | 40 | 0 | $184,250 | $0 | $56,429 | Yes (X) | |||
| Marc Briney | |||||||||
| Chief Marketing Officer | 40 | 0 | Yes (X) | $217,985 | $0 | $21,360 | |||
| Craig Bright | |||||||||
| VP Ag Lending Operations | 40 | 0 | $194,808 | $0 | $17,727 | Yes (X) | |||
| Danielle Hicks-Appleton | |||||||||
| Senior Ag Loan Officer | 40 | 0 | $158,570 | $0 | $22,366 | Yes (X) | |||
| Jodie Creek | |||||||||
| Senior Ag Loan Officer | 40 | 0 | $152,568 | $0 | $20,804 | Yes (X) | |||
| Herbert Horrom | |||||||||
| Chairman | 2 | 0 | $0 | $0 | $0 | Yes (X) | |||
| John Peters | |||||||||
| Secretary/Treasurer | 2 | 0 | $0 | $0 | $0 | Yes (X) | |||
| Dennis Post | |||||||||
| Director | 2 | 0 | $0 | $0 | $0 | Yes (X) | |||
| Dr Lindsay Culver | |||||||||
| Director | 2 | 0 | $0 | $0 | $0 | Yes (X) | |||
| Jim Yates | |||||||||
| Director | 2 | 0 | $0 | $0 | $0 | Yes (X) | |||
| Sarah Delbecq | |||||||||
| Director | 2 | 0 | $0 | $0 | $0 | Yes (X) | |||
| Paul Hartman | |||||||||
| Director | 2 | 0 | $0 | $0 | $0 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $3,886,463 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $727,637 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 32 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | Yes (1) | 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 | |||||
| PO BOX 934057 | Atlanta | GA | 311934057 | Core Computer System Processing and Maintenance | $2,933,924 |
| Network Solutions Inc | |||||
| PO Box 3009 | Warren | PA | 16365 | Hardware and Software Computer Maintenance | $369,558 |
| Finastra | |||||
| PO Box 945120 | Atlanta | GA | 303945120 | Computer Software and Maintenance | $466,589 |
| SHI International Corp | |||||
| PO Box 952121 | Dallas | TX | 75395 | Computer Licenses and Maintenance | $375,818 |
| QSI | |||||
| 107 Schuler Drive | Bardstown | KY | 40004 | ATM Maintenance | $420,635 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 22 | CntrctRcvdGreaterThan100KCnt |
| Federated Campaigns | $0 | FederatedCampaignsAmt |
| Membership Dues | $0 | MembershipDuesAmt |
| Fundraising | $0 | FundraisingAmt |
| Related Organizations | $0 | RelatedOrganizationsAmt |
| Government Grants | $0 | GovernmentGrantsAmt |
| All Other Contributions | $0 | AllOtherContributionsAmt |
| Noncash Contributions | $0 | NoncashContributionsAmt |
| Total Contributions | $0 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt | ExclusionExclusionAmt |
|---|---|---|---|---|---|
| Income on Loans | 522130 | $39,050,396 | $39,050,396 | $0 | $0 |
| Miscellaneous Income | 522130 | $9,683,873 | $9,683,873 | $0 | $0 |
Total Oth Program Service Rev TotalOthProgramServiceRevGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $48,734,269 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $12,910,948 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $12,910,948 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
Incm From Invest Bond Proceeds IncmFromInvestBondProceedsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
Royalties Revenue RoyaltiesRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
| Personal | $0 | PersonalAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $0 | SecuritiesAmt |
| Other | $85,050 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $0 | SecuritiesAmt |
| Other | $74,443 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $0 | SecuritiesAmt |
| Other | $10,607 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $10,607 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $10,607 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contri Rpt Fundraising Event | $0 | ContriRptFundraisingEventAmt |
Other Revenue Misc OtherRevenueMiscGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt | ExclusionExclusionAmt |
|---|---|---|---|---|---|
| Miscelleous Income | 522130 | $335,400 | $0 | $335,400 | $0 |
| Visa Income | 522130 | $298,869 | $298,869 | $0 | $0 |
Miscellaneous Revenue MiscellaneousRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $634,269 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $62,290,093 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $61,954,693 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $335,400 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $28,646 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,749,272 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $14,064,434 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,906,021 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,532,236 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,261,482 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $225,213 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $280,279 | TotalAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $194,856 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,511,833 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $681,628 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,577,475 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,473,207 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,375,593 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $240,801 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $302,327 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,008,466 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,331,682 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $237,901 | TotalAmt |
Other Expenses OtherExpensesGrp (3 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| Share Dividends Paid | $18,063,109 |
| Processing Expense | $1,569,126 |
| Miscellaneous Expense | $367,618 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $57,983,205 | 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 | $7,468,724 | BOYAmt |
| EOY | $6,887,634 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $37,028,410 | BOYAmt |
| EOY | $38,351,469 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $951,600,520 | BOYAmt |
| EOY | $1,001,949,410 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $2,188,290 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $33,544,558 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $26,056,155 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,314,483 | BOYAmt |
| EOY | $7,488,403 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $396,938,585 | BOYAmt |
| EOY | $354,499,670 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $99,705,223 | BOYAmt |
| EOY | $105,810,189 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,501,055,945 | BOYAmt |
| EOY | $1,517,175,065 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $12,849,785 | BOYAmt |
| EOY | $12,668,781 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $45,000,000 | BOYAmt |
| EOY | $84,000,000 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,294,597,735 | BOYAmt |
| EOY | $1,260,730,818 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,352,447,520 | BOYAmt |
| EOY | $1,357,399,599 | 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 | $148,608,425 | BOYAmt |
| EOY | $159,775,466 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $148,608,425 | BOYAmt |
| EOY | $159,775,466 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,501,055,945 | BOYAmt |
| EOY | $1,517,175,065 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $4,306,888 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $4,719,510 | NetUnrlzdGainsLossesInvstAmt |
| Donated Services And Use Fclts | $0 | DonatedServicesAndUseFcltsAmt |
| Investment Expense | $0 | InvestmentExpenseAmt |
| Prior Period Adjustments | $0 | PriorPeriodAdjustmentsAmt |
| Other Changes In Net Assets | $2,140,643 | OtherChangesInNetAssetsAmt |
| 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) |
|---|---|---|
| Investment Cost Or Other Basis | $0 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $3,052,788 | OtherCostOrOtherBasisAmt |
| Book Value | $3,052,788 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $0 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $17,070,884 | OtherCostOrOtherBasisAmt |
| Depreciation | $13,595,699 | DepreciationAmt |
| Book Value | $3,475,185 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $0 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $0 | OtherCostOrOtherBasisAmt |
| Depreciation | $0 | DepreciationAmt |
| Book Value | $0 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $0 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $13,103,415 | OtherCostOrOtherBasisAmt |
| Depreciation | $12,188,996 | DepreciationAmt |
| Book Value | $914,419 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $0 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $317,471 | OtherCostOrOtherBasisAmt |
| Depreciation | $271,460 | DepreciationAmt |
| Book Value | $46,011 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $7,488,403 | TotalBookValueLandBuildingsAmt |
Invst Program Related Org InvstProgramRelatedOrgGrp (4 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| Mortgage Backed Secucrities | $200,774,344 | F |
| Collateralized Mortgage Obligations | $121,229,137 | F |
| Municipal Bonds | $19,735,391 | F |
| SBA Loan Pools | $12,760,798 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Program Rltd | $354,499,670 | TotalBookValueProgramRltdAmt |
Other Assets Org OtherAssetsOrgGrp (9 entries)
| DescDesc | Book ValueBookValueAmt |
|---|---|
| Corporate One Federal Credit Union Perpetual Capital | $900,000 |
| Investment in Agribank | $100,000 |
| Federal Home Loan Bank Stock | $4,882,900 |
| Loan Servicing Rights | $207,111 |
| Share Insurance Deposit | $16,933,124 |
| Insurance and Annuity Contracts | $40,810,105 |
| Goodwill | $18,810,763 |
| Accrued Interest Receivable | $8,008,428 |
| Other Assets | $15,157,758 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $105,810,189 | TotalBookValueOtherAssetsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Various Member Deposits | Desc |
| Amt | $1,260,730,818 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $1,260,730,818 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Schedule D, Part X, Line 2 | FormAndLineReferenceDesc |
| Explanation | The entity recognizes tax benefits only to the extent that the entity believes it is more likely than not (i.e. greater than 50 percent) that its tax positions will be sustained upon examination. We have evaluated the entity's tax positions and have determined that the entity does not have any material uncertain tax positions. | ExplanationTxt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable
Recipient Business Name RecipientBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Beacon Credit Union Foundation Inc | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 586 S Wabash Street | AddressLine1Txt |
| City | Wabash | CityNm |
| State Abbreviation | IN | StateAbbreviationCd |
| ZIP | 46992 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Recipient EIN | 453814789 | RecipientEIN |
| IRC Section | 501(c)(3) | IRCSectionDesc |
| Cash Grant | $25,000 | CashGrantAmt |
| Valuation Method Used | book | ValuationMethodUsedDesc |
| Purpose Of Grant | Funding Operations and program activities | PurposeOfGrantTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 1 | Total501c3OrgCnt |
| Total Other Org | 0 | TotalOtherOrgCnt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Schedule I, Part I, Line 2 | FormAndLineReferenceDesc |
| Explanation | Sch 1, Part 1, Line 2 Beacon Credit Union Foundation, Inc. is a Foundation separate from Beacon Credit Union. The governing body abides by the bylaws set in place for Beacon Credit Union Foundation, Inc. and each donation is reviewed and agreed upon by the Board of Directors. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Club Dues Or Fees | Yes (X) | ClubDuesOrFeesInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| 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 (14 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 Rltd OrgsCompReportPrior990RltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dustin Cuttriss | ||||||||||||||
| President/CEO | $361,728 | $0 | $48,840 | $0 | $239,398 | $0 | $37,293 | $0 | $17,783 | $0 | $705,042 | $0 | $0 | |
| Todd Beehler | ||||||||||||||
| Chief Strategy Officer | $180,853 | $0 | $48,460 | $0 | $52,531 | $0 | $72,246 | $0 | $17,433 | $0 | $371,523 | $0 | $0 | |
| Kevin Willour | ||||||||||||||
| Former President/CEO | $247,676 | $0 | $51,000 | $0 | $74,821 | $0 | $74,871 | $0 | $1,140 | $0 | $449,508 | $0 | ||
| Tiffany Haupert | ||||||||||||||
| Investment Services Manager | $183,400 | $0 | $460 | $0 | $390 | $0 | $46,926 | $0 | $9,503 | $0 | $240,679 | $0 | ||
| Ryan Showley | ||||||||||||||
| Chief Information Officer | $183,793 | $0 | $31,500 | $0 | $29,696 | $0 | $65,570 | $0 | $9,503 | $0 | $320,062 | $0 | ||
| Lori Eltzroth | ||||||||||||||
| Chief Admin Officer | $172,553 | $0 | $31,500 | $0 | $27,396 | $0 | $51,646 | $0 | $17,608 | $0 | $300,703 | $0 | ||
| Dawn Aschleman | ||||||||||||||
| Chief Operations Officer | $181,900 | $0 | $29,860 | $0 | $30,024 | $0 | $44,096 | $0 | $0 | $0 | $285,880 | $0 | ||
| Trisha Loker | ||||||||||||||
| Chief Credit Officer | $163,379 | $0 | $29,360 | $0 | $21,322 | $0 | $20,953 | $0 | $14,815 | $0 | $249,829 | $0 | ||
| Dan Sparling | ||||||||||||||
| VP of Finance | $121,320 | $0 | $9,500 | $0 | $376,590 | $0 | $45,654 | $0 | $13,883 | $0 | $566,947 | $0 | ||
| Craig Bright | ||||||||||||||
| VP Ag Lending Operations | $155,672 | $0 | $35,250 | $0 | $3,886 | $0 | $8,049 | $0 | $9,678 | $0 | $212,535 | $0 | ||
| Marc Briney | ||||||||||||||
| Chief Marketing Officer | $149,513 | $0 | $26,740 | $0 | $41,732 | $0 | $7,477 | $0 | $13,883 | $0 | $239,345 | $0 | ||
| Jodie Creek | ||||||||||||||
| Senior Ag Loan Officer | $125,265 | $0 | $24,680 | $0 | $2,623 | $0 | $5,989 | $0 | $14,815 | $0 | $173,372 | $0 | ||
| Steve Caryer | ||||||||||||||
| Chief Financial Officer | $187,131 | $0 | $26,120 | $0 | $80,446 | $0 | $9,223 | $0 | $14,815 | $0 | $317,735 | $0 | ||
| Danielle Hicks-Appleton | ||||||||||||||
| Senior Ag Loan Officer | $130,678 | $0 | $27,790 | $0 | $102 | $0 | $11,643 | $0 | $10,723 | $0 | $180,936 | $0 | ||
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Schedule J, Part I, Line 1a | All employees are eligible for a 50% reimbursement of their monthly gym membership fees, up to a maximum of $20 per month. |
| Schedule J, Part I, Line 4 | The following employees participated in a 457(f) plan during 2023- Dustin Cuttriss, Todd Beehler, Kevin Willour, Ryan Showley, Lori Eltzroth, and Dan Sparling. The following employees participated in a REBA/Section 162 Plan - Dawn Aschleman, Todd Beehler, Marc Briney, Steve Caryer, Dustin Cuttriss, Lori Eltzroth, Trish Loker, Ryan Showley and Kevin Willour. Willour retired in 2023 |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (9 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Form 990, Part IV, Line 26 | The Credit Union does offer loans to its interested persons based on the same terms and conditions as offered to other members of the Credit Union. Per exception as indicated on Page 3 of the instructions for Schedule L, the Credit Union does not need to list the loans from the Credit Union to the member. |
| Form 990, Part VI, Section A, Line 6 | Each person or organization who establishes a savings/share account with a least $25 becomes a member per our Articles of Incorporation. |
| Form 990, Part VI, Section A, Line 7a | Each member is entitled to one vote to elect members to the Board of Directors and Supervisory Committee per the Articles of Incorporation. |
| Form 990, Part VI, Section A, Line 7b | Changes to the Articles of Incorporation require a vote by our membership. Changes to the Articles of Incorporation are also subject to the Board of Directors' approval prior to being brought to the membership for a vote. |
| Form 990, Part VI, Section B, Line 11b | The Board of Directors will be provided a copy of the 990 tax return prior to the return being filed. The standard board meeting is scheduled prior to the form 990 completion and filing. A detailed review is also performed by an independent accounting firm. |
| Form 990, Part VI, Section B, Line 12c | All policies are reviewed annually by the Board of Directors. Any policy revisions require Board approval. If a Board of Directors Member has a conflict of interest, they abstain from discussion and voting on the item(s) arising from the conflict. All policies are made readily available to all employees at any time via the company intranet. All newly hired employees are provided with a complete set of policies at orientation and are required to sign an acknowledgement of receipt and acknowledge they have read and understood all polices. Any violations of policies are reported to the employee's supervisor and/HR. Violations are reviewed with the employee by the supervisor and/or HR. Depending on the nature and seriousness of the policy, written reprimeands or terminations may occur. All written review and reprimands require the empoloyee to sign/acknowledge. The copies are retained in the employee personnel file in perpetuity. |
| Form 990, Part VI, Section B, Line 15 | Beacon Credit Union utilized the salary administration product "Compease" as managed by an independent party, Koker, Goodwin, and Associates to determine appropriate salary ranges for each employee position based on responsibilities, education, number of employees supervised, etc. Salary ranges are then approved by the President/CEO. Parameters are put into place at the end of each calendar year for an annual review. In this process, an employee's compensation may increase based on their past performance and where their current salary falls within the range for the position and applicable criteria. A "Compease" report is also generated periodically for the CEO and is provided by HR to the Board of Directors (pulled when employment contract is up for renewal which is typically every three years). The Board of Directors will establish the CEO compensation and other benefits. An agreement will then be drafted by the Credit Union's legal counsel for the period agreed upon by the CEO and Board of Directors. |
| Form 990, Part VI, Section C, Line 19 | Beacon Credit Union does not make its governing documents or conflicts of interest policy available to the public. When requested by members, financial statements are made available to the public. An annual report containing year end financial statements are published and made available upon request. |
| Form 990, Part XI, Line 9 | The $2,140,643 was the change in pension plan funding during 2023. |
Schedule R IRS990ScheduleR
Id Disregarded Entities IdDisregardedEntitiesGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Plan One Financial Services Inc | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 641 South Miami Street | AddressLine1Txt |
| City | Wabash | CityNm |
| State Abbreviation | IN | StateAbbreviationCd |
| ZIP | 46992 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 351677931 | EIN |
| Primary Activities | Financial Services | PrimaryActivitiesTxt |
| Legal Domicile State | IN | LegalDomicileStateCd |
| Total Income | $100,470 | TotalIncomeAmt |
| End Of Year Assets | $5,945,061 | EndOfYearAssetsAmt |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Beacon Credit Union | BusinessNameLine1Txt |
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Beacon Credit Union Foundation Inc | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 586 S Wabash Street | AddressLine1Txt |
| City | Wabash | CityNm |
| State Abbreviation | IN | StateAbbreviationCd |
| ZIP | 46992 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 453814789 | EIN |
| Primary Activities | Private Foundation | PrimaryActivitiesTxt |
| Legal Domicile State | IN | 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 | Beacon 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 | Yes (1) | 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 | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | 0 | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | 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 |
|---|---|---|
| Beacon Credit Union Foundation Inc | ||
| b | $25,000 | Cash |
| Beacon Credit Union Foundation Inc | ||
| a-i | $75 | Cash |