TRUSTONE FINANCIAL CREDIT UNION: Form 990, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- TRUSTONE FINANCIAL CREDIT UNION (EIN 41-0749255)
- Tax period
- 2023-01-01 to 2023-12-31
- Filed
- 2024-11-14
- IRS object ID
- 202413199349318486
- 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 | 2024-11-14T21:21:19-06:00 | 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 | 410749255 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | TRUSTONE FINANCIAL CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | TRUS | BusinessNameControlTxt |
| Phone | 8008621998 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 14601 27TH AVE N STE 104 | AddressLine1Txt |
| City | PLYMOUTH | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 55447 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | DANIEL ZACZKOWSKI | PersonNm |
| Person Title | CHIEF FINANCIAL OFFICER | PersonTitleTxt |
| Phone | 8008621998 | PhoneNum |
| Signature | 2024-11-13 | 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 | DALE TURNER | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 14601 27TH AVE N STE 104 | AddressLine1Txt |
| City | PLYMOUTH | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 55447 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $275,456,286 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.TRUSTONEFINANCIAL.ORG | WebsiteAddressTxt |
| Type Of Organization Other | Yes (X) | TypeOfOrganizationOtherInd |
| Other Organization Dsc | CREDIT UNION | OtherOrganizationDsc |
| Formation | 1939 | FormationYr |
| Legal Domicile State | MN | LegalDomicileStateCd |
| Activity Or Mission | WE ENGAGE, EDUCATE AND INSPIRE OUR MEMBERS TO ACHIEVE LIFELONG FINANCIAL WELL-BEING. | ActivityOrMissionDesc |
| Voting Members Governing Body | 13 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 13 | VotingMembersIndependentCnt |
| Total Employee | 700 | TotalEmployeeCnt |
| Total Volunteers | 13 | TotalVolunteersCnt |
| Total Gross UBI | $599,190 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $173,652 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $169,254,143 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $212,218,172 | CYProgramServiceRevenueAmt |
| PY Investment Income | $21,284,145 | PYInvestmentIncomeAmt |
| CY Investment Income | $42,839,365 | CYInvestmentIncomeAmt |
| PY Other Revenue | $62,307 | PYOtherRevenueAmt |
| CY Other Revenue | $181,132 | CYOtherRevenueAmt |
| PY Total Revenue | $190,600,595 | PYTotalRevenueAmt |
| CY Total Revenue | $255,238,669 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $20,517,213 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $63,528,556 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $55,968,998 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $57,164,350 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $57,639,850 | PYOtherExpensesAmt |
| CY Other Expenses | $83,138,046 | CYOtherExpensesAmt |
| PY Total Expenses | $134,126,061 | PYTotalExpensesAmt |
| CY Total Expenses | $203,830,952 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $56,474,534 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $51,407,717 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $4,614,668,122 | TotalAssetsBOYAmt |
| Total Assets EOY | $5,003,146,902 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $4,227,263,866 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $4,544,503,174 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $387,404,256 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $458,643,728 | NetAssetsOrFundBalancesEOYAmt |
| Mission | WE ENGAGE, EDUCATE AND INSPIRE OUR MEMBERS TO ACHIEVE LIFELONG FINANCIAL WELL-BEING. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | LOANS:AS A STATE CHARTERED CREDIT UNION, WE PROVIDE A VARIETY OF LENDING SERVICES TO OUR MEMBERSHIP. THE CREDIT UNION HAD 125,485 LOANS OUTSTANDING AS OF 12/31/23 WITH BALANCES OF $3,776,830,439. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | DEPOSITS:AS A STATE CHARTERED CREDIT UNION, WE PROVIDE A VARIETY OF DEPOSITORY SERVICES TO OUR MEMBERSHIP. THE CREDIT UNION HAD 471,846 ACCOUNTS WITH DEPOSITS OF $3,928,674,520 AS OF 12/31/23. | 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 | Yes (1) | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | Yes (1) | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | 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 | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | Yes (1) | 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 | 0 | 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 | 54846 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 700 | 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 | Yes (1) | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 13 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 13 | 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 | 0 | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | MN | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | DANIEL ZACZKOWSKI | PersonNm |
| Phone | 7635954003 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 14601 27TH AVE N STE 104 | AddressLine1Txt |
| City | PLYMOUTH | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 55447 | 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 | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|
| JOHN CHRISTENSON | |||||||
| CHAIR | 5.00 | Yes (X) | Yes (X) | $4,229 | $0 | $0 | |
| DARRICK METZ | |||||||
| VICE CHAIR | 5.00 | Yes (X) | Yes (X) | $3,980 | $0 | $0 | |
| DOUG NESBIT | |||||||
| TREASUER | 5.00 | Yes (X) | Yes (X) | $4,576 | $0 | $0 | |
| ANNE ZIEBELL | |||||||
| SECRETARY | 5.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| JENNIFER WHITLOCK | |||||||
| DIRECTOR | 2.00 | Yes (X) | $5,000 | $0 | $0 | ||
| LORI BONIN | |||||||
| DIRECTOR | 2.00 | Yes (X) | $5,000 | $0 | $0 | ||
| SAMUEL STERN | |||||||
| DIRECTOR | 2.00 | Yes (X) | $5,000 | $0 | $0 | ||
| STEVE HUNZIKER | |||||||
| DIRECTOR | 2.00 | Yes (X) | $5,000 | $0 | $0 | ||
| JAMES SACKETT | |||||||
| DIRECTOR | 2.00 | Yes (X) | $3,913 | $0 | $0 | ||
| STEVE BOHLIG | |||||||
| DIRECTOR | 2.00 | Yes (X) | $2,681 | $0 | $0 | ||
| KEVIN CRANE | |||||||
| DIRECTOR | 2.00 | Yes (X) | $2,536 | $0 | $0 | ||
| BRUCE WHITMORE | |||||||
| DIRECTOR | 2.00 | Yes (X) | $2,278 | $0 | $0 | ||
| TOM ALAGNA | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| DALE TURNER | |||||||
| CHIEF EXECUTIVE OFFICER/PR | 40.00 | Yes (X) | $1,086,393 | $0 | $44,392 | ||
| STEVEN STEEN | |||||||
| CHIEF RETAIL OFFICER | 40.00 | Yes (X) | $666,355 | $0 | $59,519 | ||
| DANIEL ZACZKOWSKI | |||||||
| CHIEF FINANCIAL OFFICER | 40.00 | Yes (X) | $658,027 | $0 | $58,134 | ||
| GARY JETER | |||||||
| CHIEF TECHNOLOGY OFFICER | 40.00 | Yes (X) | $638,270 | $0 | $53,418 | ||
| HANS IVERSON | |||||||
| CHIEF OPERATIONS OFFICER | 40.00 | Yes (X) | $628,921 | $0 | $59,930 | ||
| PHILIP YOUNG | |||||||
| CHIEF LEGAL OFFICER | 40.00 | Yes (X) | $622,713 | $0 | $59,519 | ||
| MARTIN KELLY | |||||||
| CHIEF MARKETING OFFICER | 40.00 | Yes (X) | $612,310 | $0 | $56,075 | ||
| NICOLE HAHN DEMPSTER | |||||||
| CHIEF PEOPLE OFFICER | 40.00 | Yes (X) | $548,274 | $0 | $41,884 | ||
| NATHAN GRUNZKE | |||||||
| CHIEF MORTGAGE OFFICER | 40.00 | Yes (X) | $536,874 | $0 | $43,271 | ||
| JEFF ERPELDING | |||||||
| VP INVESTMENT SERVICES | 40.00 | $431,978 | $0 | $58,076 | Yes (X) | ||
| JEFFREY ZAJAC | |||||||
| MORTGAGE AREA SALES MANAGE | 40.00 | $369,482 | $0 | $47,250 | Yes (X) | ||
| JO LEE MCDEVITT | |||||||
| MORTGAGE CONSULTANT | 40.00 | $358,611 | $0 | $31,461 | Yes (X) | ||
| ERIC FELD | |||||||
| MORTGAGE CONSULTANT | 40.00 | $229,030 | $0 | $54,947 | Yes (X) | ||
| AMELIA JOHNSON | |||||||
| MORTGAGE CONSULTANT | 40.00 | $241,221 | $0 | $26,396 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $7,672,652 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $694,272 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 78 | 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 |
|---|---|---|---|---|---|
| PSCU | |||||
| 560 CARILLON PARKWAY | ST PETERSBURG | FL | 33716 | CARD PROCESSING | $4,468,124 |
| VISION MEDIA - STEPHEN REED TWO DOG MEDI | |||||
| 11820 NORTHRUP WAY STE E-100 | BELLEVUE | WA | 98005 | DIGITAL MEDIA PROVIDER | $2,895,647 |
| JACK HENRY & ASSOCIATES | |||||
| PO BOX 609 | MONETT | MO | 65708 | CORE TRANSACTION PROCESSOR | $2,657,004 |
| ANCONA TITLE AGENCY | |||||
| 4750 WHITE BEAR PARKWAY | WHITE BEAR LAKE | MN | 55110 | TITLE COMPANY | $2,177,434 |
| SERVION COMMERCIAL LOAN RESOURCES INC | |||||
| 500 MAIN STREET STE 100 | NEW BRIGHTON | MN | 55112 | COMMERCIAL LOAN SERVICER | $1,911,356 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 45 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| INTEREST ON LOANS | 522100 | $179,995,526 | $179,995,526 | |
| MISC OPERATING INCOME | 522100 | $19,782,531 | $19,782,531 | |
| FEE INCOME | 522100 | $12,440,115 | $11,840,925 | $599,190 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $212,218,172 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $40,643,558 | TotalRevenueColumnAmt |
| Exclusion | $40,643,558 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $11,761,170 | SecuritiesAmt |
| Other | $10,652,254 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $13,699,510 | SecuritiesAmt |
| Other | $6,518,107 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | -$1,938,340 | SecuritiesAmt |
| Other | $4,134,147 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $2,195,807 | TotalRevenueColumnAmt |
| Exclusion | $2,195,807 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | OTHER NON-INTEREST INCOME(EXPENSE | Desc |
| Business | 522100 | BusinessCd |
| Total Revenue Column | $181,132 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $181,132 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $181,132 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $255,238,669 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $211,800,114 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $599,190 | UnrelatedBusinessRevenueAmt |
| Exclusion | $42,839,365 | ExclusionAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $63,528,556 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,518,472 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $35,939,290 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,934,351 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $8,843,665 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,928,572 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $391,256 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $139,231 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $8,218,664 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,584,145 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $13,012,517 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,523,767 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,053,246 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $33,822,383 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,430,751 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| PROVISION FOR CREDIT LO | $7,699,350 |
| LOAN SERVICING | $3,314,242 |
| MISCELLANEOUS | $1,828,074 |
| SUPERVISION EXPENSES | $120,420 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $203,830,952 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $67,776,604 | BOYAmt |
| EOY | $69,468,656 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $32,313,617 | BOYAmt |
| EOY | $144,730,550 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,067,229 | BOYAmt |
| EOY | $3,073,133 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $24,850,297 | BOYAmt |
| EOY | $41,071,265 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,616,146,673 | BOYAmt |
| EOY | $3,749,787,410 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,939,356 | BOYAmt |
| EOY | $3,421,699 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $97,356,051 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $45,253,498 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $50,706,729 | BOYAmt |
| EOY | $52,102,553 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $24,626,900 | BOYAmt |
| EOY | $29,345,400 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $651,006,666 | BOYAmt |
| EOY | $763,735,229 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $22,040,504 | BOYAmt |
| EOY | $22,007,703 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $117,193,547 | BOYAmt |
| EOY | $124,403,304 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,614,668,122 | BOYAmt |
| EOY | $5,003,146,902 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $64,020,283 | BOYAmt |
| EOY | $54,433,070 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $11,994,181 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $378,000,000 | BOYAmt |
| EOY | $549,000,000 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,785,243,583 | BOYAmt |
| EOY | $3,929,075,923 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,227,263,866 | BOYAmt |
| EOY | $4,544,503,174 | 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 | $387,404,256 | BOYAmt |
| EOY | $458,643,728 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $387,404,256 | BOYAmt |
| EOY | $458,643,728 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,614,668,122 | BOYAmt |
| EOY | $5,003,146,902 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $51,407,717 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $23,505,063 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | -$3,673,308 | 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) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | 0 | AgentTrusteeEtcInd |
| Incl Escrow Custodial Acct Liab | Yes (1) | InclEscrowCustodialAcctLiabInd |
| Explanation Provided | Yes (X) | ExplanationProvidedInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $18,477,327 | OtherCostOrOtherBasisAmt |
| Book Value | $18,477,327 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $40,730,035 | OtherCostOrOtherBasisAmt |
| Depreciation | $14,422,829 | DepreciationAmt |
| Book Value | $26,307,206 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $2,319,059 | OtherCostOrOtherBasisAmt |
| Depreciation | $1,841,002 | DepreciationAmt |
| Book Value | $478,057 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $35,501,400 | OtherCostOrOtherBasisAmt |
| Depreciation | $28,989,667 | DepreciationAmt |
| Book Value | $6,511,733 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $328,230 | OtherCostOrOtherBasisAmt |
| Book Value | $328,230 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $52,102,553 | TotalBookValueLandBuildingsAmt |
Invst Program Related Org InvstProgramRelatedOrgGrp (2 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| AVAILABLE FOR SALE SECURITIES | $763,156,225 | F |
| PERPETUAL CONTRIBUTED CAPITAL | $579,004 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Program Rltd | $763,735,229 | TotalBookValueProgramRltdAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (3 entries)
| DescDesc | AmtAmt |
|---|---|
| MEMBER SHARES | $3,652,643,221 |
| NON-MEMBER SHARES | $276,031,299 |
| OFF-BALANCE SHEET CREDIT EXPOSURES | $401,403 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $3,929,075,923 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $270,146,561 | TotalRevEtcAuditedFinclStmtAmt |
| Other Revenue | $14,907,892 | OtherRevenueAmt |
| Revenue Not Reported | $14,907,892 | RevenueNotReportedAmt |
| Revenue Subtotal | $255,238,669 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $255,238,669 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $218,738,858 | TotExpnsEtcAuditedFinclStmtAmt |
| Other Expenses Included | $14,907,906 | OtherExpensesIncludedAmt |
| Expenses Not Reported | $14,907,906 | ExpensesNotReportedAmt |
| Expenses Subtotal | $203,830,952 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $203,830,952 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (4 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART IV, LINE 2B: | YES, TRUSTONE HOLDS ESCROW ACCOUNTS FOR LOANS WE SERVICE THAT WERE SOLD TO FNMA & FHLB. |
| PART X, LINE 2: | THE CREDIT UNION IS EXEMPT, UNDER INTERNAL REVENUE CODE 501(C)(14), FROM FEDERAL AND STATE INCOME TAXES. THE CREDIT UNION'S CONVERSION TO A STATE CHARTERED CREDIT UNION ON DECEMBER 30, 2020 RESULTED IN IT BEING SUBJECT TO UNRELATED BUSINESS INCOME TAX. ALSO, AS A RESULT OF BECOMING A STATE CHARTERED CREDIT UNION, THE CREDIT UNION BEGAN PAYING STATE SALES AND USE TAXES. THE CREDIT UNION HAS FILED TAX RETURNS FOR ACTIVITIES THEY HAVE DEEMED TAXABLE. THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF DECEMBER 31, 2023 AND 2022. THE CREDIT UNION'S 2020 THROUGH 2022 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. |
| PART XI, LINE 2D - OTHER ADJUSTMENTS: | REVENUE INCLUDED IN EXPENSES 14,907,892. |
| PART XII, LINE 2D - OTHER ADJUSTMENTS: | REVENUE INCLUDED IN EXPENSES 14,907,892. ROUNDING 14. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| First Class Or Charter Travel | Yes (X) | FirstClassOrCharterTravelInd |
| Travel For Companions | Yes (X) | TravelForCompanionsInd |
| Club Dues Or Fees | Yes (X) | ClubDuesOrFeesInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| 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 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DALE TURNER | ||||||||||||||
| CHIEF EXECUTIVE OFFICER/PR | $709,755 | $0 | $341,826 | $0 | $34,812 | $0 | $33,701 | $0 | $10,691 | $0 | $1,130,785 | $0 | $0 | $0 |
| STEVEN STEEN | ||||||||||||||
| CHIEF RETAIL OFFICER | $267,299 | $0 | $382,166 | $0 | $16,890 | $0 | $35,750 | $0 | $23,769 | $0 | $725,874 | $0 | $0 | $0 |
| DANIEL ZACZKOWSKI | ||||||||||||||
| CHIEF FINANCIAL OFFICER | $259,486 | $0 | $374,751 | $0 | $23,790 | $0 | $28,906 | $0 | $29,228 | $0 | $716,161 | $0 | $0 | $0 |
| GARY JETER | ||||||||||||||
| CHIEF TECHNOLOGY OFFICER | $276,935 | $0 | $337,545 | $0 | $23,790 | $0 | $26,762 | $0 | $26,656 | $0 | $691,688 | $0 | $0 | $0 |
| HANS IVERSON | ||||||||||||||
| CHIEF OPERATIONS OFFICER | $274,332 | $0 | $354,139 | $0 | $450 | $0 | $32,000 | $0 | $27,930 | $0 | $688,851 | $0 | $0 | $0 |
| PHILIP YOUNG | ||||||||||||||
| CHIEF LEGAL OFFICER | $259,528 | $0 | $339,395 | $0 | $23,790 | $0 | $35,750 | $0 | $23,769 | $0 | $682,232 | $0 | $0 | $0 |
| MARTIN KELLY | ||||||||||||||
| CHIEF MARKETING OFFICER | $221,810 | $0 | $389,210 | $0 | $1,290 | $0 | $34,756 | $0 | $21,319 | $0 | $668,385 | $0 | $0 | $0 |
| NICOLE HAHN DEMPSTER | ||||||||||||||
| CHIEF PEOPLE OFFICER | $231,567 | $0 | $316,257 | $0 | $450 | $0 | $30,619 | $0 | $11,265 | $0 | $590,158 | $0 | $0 | $0 |
| NATHAN GRUNZKE | ||||||||||||||
| CHIEF MORTGAGE OFFICER | $226,632 | $0 | $286,452 | $0 | $23,790 | $0 | $35,750 | $0 | $7,521 | $0 | $580,145 | $0 | $0 | $0 |
| JEFF ERPELDING | ||||||||||||||
| VP INVESTMENT SERVICES | $64,272 | $0 | $367,325 | $0 | $381 | $0 | $29,836 | $0 | $28,240 | $0 | $490,054 | $0 | $0 | $0 |
| JEFFREY ZAJAC | ||||||||||||||
| MORTGAGE AREA SALES MANAGE | $31,859 | $0 | $337,574 | $0 | $49 | $0 | $26,611 | $0 | $20,639 | $0 | $416,732 | $0 | $0 | $0 |
| JO LEE MCDEVITT | ||||||||||||||
| MORTGAGE CONSULTANT | $25,895 | $0 | $332,686 | $0 | $30 | $0 | $31,461 | $0 | $0 | $0 | $390,072 | $0 | $0 | $0 |
| ERIC FELD | ||||||||||||||
| MORTGAGE CONSULTANT | $14,976 | $0 | $214,041 | $0 | $13 | $0 | $26,558 | $0 | $28,389 | $0 | $283,977 | $0 | $0 | $0 |
| AMELIA JOHNSON | ||||||||||||||
| MORTGAGE CONSULTANT | $24,603 | $0 | $216,605 | $0 | $13 | $0 | $26,396 | $0 | $0 | $0 | $267,617 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (4 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART I, LINE 1A | OCCASIONALLY BOARD OR EXECUTIVE MEMBERS TRAVEL FIRST CLASS. SPOUSES/SIGNIFICANT OTHERS ALSO TRAVEL FOR STRATEGIC PLANNING TRIPS. SPOUSES/SIGNIFICANT OTHERS WERE 1099'ED IF OVER $600 WAS PAID FOR TRAVEL. PRESIDENT/CEO HAS A SOCIAL CLUB MEMBERSHIP. |
| PART I, LINE 1B | TRAVEL (INCLUDING FIRST CLASS RESERVATIONS) REQUIRED FOR TRUSTONE EMPLOYEES TO CONDUCT BUSINESS IS NOT INCLUDED ON W-2'S. 1099'S ARE ISSUED TO SPOUSES/SIGNIFICANT OTHERS FOR TRAVEL OVER $600. SOCIAL CLUB MEMBERSHIP IS USED FOR BUSINESS PURPOSES. |
| PART I, LINE 3 | CEO SALARY IS DETERMINED BY THE BOARD OF DIRECTORS AND BENCHMARKED TO CURRENT COMPENSATION SALARY INFORMATION BASED UPON PERFORMANCE AND TENURE. |
| PART I, LINE 4B | DALE TURNER - PARTICIPATED IN 457(B) PLAN - NO DISTRIBUTIONS IN 2023 GARY JETER - PARTICIPATED IN 457(B) PLAN - NO DISTRIBUTIONS IN 2023 STEVEN STEEN - PARTICIPATED IN 457(B) PLAN - NO DISTRIBUTIONS IN 2023 DANIEL ZACZKOWSKI - PARTICIPATED IN 457(B) PLAN - NO DISTRIBUTIONS IN 2023 PHILIP YOUNG - PARTICIPATED IN 457(B) PLAN - NO DISTRIBUTIONS IN 2023 NATHAN GRUNZKE - PARTICIPATED IN 457(B) PLAN - NO DISTRIBUTIONS IN 2023 |
Schedule L IRS990ScheduleL
Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp (9 entries)
| Relationship With OrgRelationshipWithOrgTxt | Loan PurposeLoanPurposeTxt | Loan From OrganizationLoanFromOrganizationInd | Original PrincipalOriginalPrincipalAmt | Balance DueBalanceDueAmt | DefaultDefaultInd | Board Or Committee ApprovalBoardOrCommitteeApprovalInd | Written AgreementWrittenAgreementInd |
|---|---|---|---|---|---|---|---|
| DALE TURNER | |||||||
| CEO | SPLIT-DOLLAR LIFE INSURANCE UNDER REG. 1.7872-15 | Yes (X) | $7,900,000 | $7,272,293 | 0 | Yes (1) | Yes (1) |
| DALE TURNER | |||||||
| CEO | SPLIT-DOLLAR LIFE INSURANCE UNDER REG. 1.7872-15 | Yes (X) | $15,600,000 | $14,409,550 | 0 | Yes (1) | Yes (1) |
| WILLIAM RAKER | |||||||
| FORMER CEO | SPLIT-DOLLAR LIFE INSURANCE UNDER REG. 1.7872-15 | Yes (X) | $2,000,000 | $1,933,845 | 0 | Yes (1) | Yes (1) |
| NICOLE HAHN DEMPSTER | |||||||
| CHIEF PEOPLE OFFICER | SPLIT-DOLLAR LIFE INSURANCE UNDER REG. 1.7872-15 | Yes (X) | $2,600,000 | $2,565,672 | 0 | Yes (1) | Yes (1) |
| HANS IVERSON | |||||||
| COO | SPLIT-DOLLAR LIFE INSURANCE UNDER REG. 1.7872-15 | Yes (X) | $2,900,000 | $2,900,001 | 0 | Yes (1) | Yes (1) |
| GARY JETER | |||||||
| CHIEF TECHNOLOGY OFFICER | SPLIT-DOLLAR LIFE INSURANCE UNDER REG. 1.7872-15 | Yes (X) | $2,500,000 | $2,547,583 | 0 | Yes (1) | Yes (1) |
| PHILIP YOUNG | |||||||
| CHIEF LEGAL OFFICER | SPLIT-DOLLAR LIFE INSURANCE UNDER REG. 1.7872-15 | Yes (X) | $3,400,000 | $3,445,992 | 0 | Yes (1) | Yes (1) |
| DANIEL ZACZKOWSKI | |||||||
| CFO | SPLIT-DOLLAR LIFE INSURANCE UNDER REG. 1.7872-15 | Yes (X) | $2,900,000 | $2,939,229 | 0 | Yes (1) | Yes (1) |
| STEVE STEEN | |||||||
| CHIEF RETAIL OFFICER | SPLIT-DOLLAR LIFE INSURANCE UNDER REG. 1.7872-15 | Yes (X) | $3,000,000 | $3,057,100 | 0 | Yes (1) | Yes (1) |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | $41,071,265 | TotalBalanceDueAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE L, PART II | FormAndLineReferenceDesc |
| Explanation | NOTED THESE TO BE NON-RECOURSE PLANS THAT ARE RECORDED ON THE BALANCE SHEET AT THE LOWER OF LOAN BALANCE OR CASH SURRENDER VALUE. BECAUSE THE CASH SURRENDER VALUE WAS LOWER, WE REPORTED THAT AMOUNT FOR BALANCE SHEET PURPOSES. HOWEVER, THE ACTUAL LOAN BALANCE IS AS FOLLOWS:DALE TURNER - $8,679,879DALE TURNER - $16,226,277WILLIAM RAKER - $2,376,081NICOLE HAHN DEMPSTER - $2,673,199HANS IVERSON - $2,981,945PHILIP YOUNG - $3,455,897DANIEL ZACZKOWSKI - $2,950,041 | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (9 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | MEMBERSHIP IS AVAILABLE TO PERSONS WHO LIVE, WORK, WORSHIP, VOLUNTEER OR ATTEND SCHOOL IN AND BUSINESSES AND OTHER LEGAL ENTITIES IN CENTRAL AND SOUTHERN MINNESOTA, INCLUDING THE MINNEAPOLIS/ST. PAUL METROPOLITAN AREA, AND THE COUNTIES OF KENOSHA, PIERCE, RACINE, ST. CROIX AND MILWAUKEE IN WISCONSIN. MEMBERSHIP IS ALSO AVAILABLE TO SELECT GROUPS OF EMPLOYEES. THE HOUSEHOLD OF A MEMBER INCLUDING BUT NOT LIMITED TO THE SPOUSE, BLOOD OR ADOPTIVE RELATIVES OF THE MEMBER ARE ALSO ELIGIBLE. |
| FORM 990, PART VI, SECTION A, LINE 7A | MEMBERS ELECT THE BOARD OF DIRECTORS. EACH MEMBER IS ENTITLED TO 1 VOTE. |
| FORM 990, PART VI, SECTION A, LINE 7B | THE MEMBERS VOTE ON MERGERS (IF ACQUIRED CREDIT UNION ONLY, NOT SURVIVING), CHARTER CHANGES AND ELECTION OF THE BOARD OF DIRECTORS. |
| FORM 990, PART VI, SECTION B, LINE 11B | FORM 990 WILL BE REVIEWED BY OFFICERS PRIOR TO ITS FILING AND WILL BE PRESENTED AFTER FILING TO THE BOARD OF DIRECTORS AND THE SUPERVISORY COMMITTEE AS AN INFORMATIONAL REPORT. |
| FORM 990, PART VI, SECTION B, LINE 12C | AUDITS OF THE HR FUNCTIONS INCLUDE A REVIEW OF WHETHER OR NOT AN EMPLOYEE HAS EXECUTED THE ACKNOWLEDGEMENT OF THE CODE OF ETHICS (INCLUDING CONFLICT OF INTEREST RULES). INTERNAL AUDIT PERFORMS QUARTERLY TESTING TO DETERMINE IF EMPLOYEES ARE PERFORMING TRANSACTIONS ON THEIR OWN DEPOSIT AND LOANS ACCOUNTS. BOARD MEMBERS ARE ASKED ANNUALLY TO REAFFIRM THE EXISTENCE OF THE CODE OF ETHICS RESOLUTION (INCLUDING THE CONFLICT OF INTEREST RULES) |
| FORM 990, PART VI, SECTION B, LINE 15 | CEO SALARY IS DETERMINED BY THE BOARD OF DIRECTORS AND BENCHMARKED TO CURRENT COMPENSATION SALARY SURVEY INFORMATION. OTHER OFFICERS AND KEY EMPLOYEE SALARIES ARE DETERMINED BY THE CEO AND BENCHMARKED TO CURRENT COMPENSATION SALARY SURVEY INFORMATION PROVIDED BY HUMAN RESOURCES. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2023. |
| FORM 990, PART VI, SECTION C, LINE 19 | FINANCIALS AND COPIES OF THE 990 ARE AVAILABLE ON REQUEST. CALL REPORT DATA HOWEVER, IS AVAILABLE TO THE PUBLIC ON THE NCUA'S WEBSITE. |
| FORM 990, PART XI, LINE 9: | CECL ADJUSTMENT -3,673,308. |
| PART XII, LINE 2C | NO CHANGES FROM PRIOR YEAR. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | TRUSTONE FINANCIAL FOUNDATION | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 14601 27TH AVE N | AddressLine1Txt |
| City | PLYMOUTH | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 55447 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 300560908 | EIN |
| Primary Activities | FINANCIAL EDUCATION & SCHOLARSHIPS FOR EDUCATION PROGRAMS | PrimaryActivitiesTxt |
| Legal Domicile State | MN | LegalDomicileStateCd |
| Exempt Code Section | 501(C)(3) | ExemptCodeSectionTxt |
| Public Charity Status | LINE 7 | PublicCharityStatusTxt |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | TRUSTONE FINANCIAL CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Controlled Organization | 0 | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | 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 |