CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN: Form 990, tax year 2023
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- Organization
- CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN (EIN 38-1524350)
- Tax period
- 2023-01-01 to 2023-12-31
- Filed
- 2024-11-12
- IRS object ID
- 202443179349301699
- 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 | 2024-11-12T09:19:18-06:00 | 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 | 381524350 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | 4FRONT CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | 4FRO | BusinessNameControlTxt |
| Phone | 2319292000 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 795 | AddressLine1Txt |
| City | TRAVERSE CITY | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 49685 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | KARL PAGEL | PersonNm |
| Person Title | CHIEF FINANCIAL OFFICER | PersonTitleTxt |
| Phone | 2319292000 | PhoneNum |
| Signature | 2024-11-08 | 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 | 2024-11-08 | 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 | ANDREW KEMPF | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 795 | AddressLine1Txt |
| City | TRAVERSE CITY | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 49685 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $134,049,091 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.4FRONTCU.COM | WebsiteAddressTxt |
| Type Of Organization Other | Yes (X) | TypeOfOrganizationOtherInd |
| Other Organization Dsc | CREDIT UNION | OtherOrganizationDsc |
| Formation | 1954 | FormationYr |
| Legal Domicile State | MI | LegalDomicileStateCd |
| Activity Or Mission | TO PROVIDE FINANCIAL SERVICES TO MEMBERS WITH A COMMON BOND. | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 9 | VotingMembersIndependentCnt |
| Total Employee | 387 | TotalEmployeeCnt |
| Total Volunteers | 9 | TotalVolunteersCnt |
| Total Gross UBI | $244,546 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $54,630,812 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $67,571,354 | CYProgramServiceRevenueAmt |
| PY Investment Income | $1,913,130 | PYInvestmentIncomeAmt |
| CY Investment Income | $3,435,805 | CYInvestmentIncomeAmt |
| PY Other Revenue | $136,720 | PYOtherRevenueAmt |
| CY Other Revenue | $1,340,446 | CYOtherRevenueAmt |
| PY Total Revenue | $56,680,662 | PYTotalRevenueAmt |
| CY Total Revenue | $72,347,605 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $3,737,791 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $12,040,049 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $15,686,854 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $19,914,744 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $25,803,220 | PYOtherExpensesAmt |
| CY Other Expenses | $36,266,311 | CYOtherExpensesAmt |
| PY Total Expenses | $45,227,865 | PYTotalExpensesAmt |
| CY Total Expenses | $68,221,104 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $11,452,797 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $4,126,501 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $1,009,844,526 | TotalAssetsBOYAmt |
| Total Assets EOY | $1,086,820,765 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $933,681,311 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $1,004,190,107 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $76,163,215 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $82,630,658 | NetAssetsOrFundBalancesEOYAmt |
| Mission | TO PROVIDE FINANCIAL SERVICES TO MEMBERS WITH A COMMON BOND. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | THE CREDIT UNION PROVIDES SEVERAL DEPOSIT ACCOUNT TYPES TO MEMBERS INCLUDING SAVINGS,CHECKING, CERTIFICATES OF DEPOSITS AND OTHERS. THE TOTAL NUMBER OF MEMBERS AT 12/31/23 WAS 105,332. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | THE CREDIT UNION PROVIDES A VARIETY OF LOANS TO MEMBERS INCLUDING REAL ESTATE, CREDIT CARDS, VEHICLE AND OTHERS. THE TOTAL NUMBER OF LOANS OUTSTANDING AT 12/31/23 WAS 59,602. | 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 | Yes (1) | 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 | 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 | Yes (1) | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 1940 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 387 | 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 |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| 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 | 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 |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | WILLIAM KENNEDY | PersonNm |
| Phone | 2319432675 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 305 W FRONT ST | AddressLine1Txt |
| City | TRAVERSE CITY | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 49684 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (16 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 |
|---|---|---|---|---|---|---|---|
| TODD ROHRBACK | |||||||
| CHAIRMAN OF THE BOARD | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| BRYAN LINDFORS | |||||||
| VICE CHAIRMAN | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| MICHAEL SKYLER FORT | |||||||
| SECRETARY | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| JOHN JACK HODGE | |||||||
| TREASURER | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| CHARLES HAGUE | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| MIKE SLATER | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| BRIAN AUSDEMORE | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| JULIE KOSLOSKEY | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| MATILYN MATTIE MEADOWS | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| ANDREW KEMPF | |||||||
| CEO | 40.00 | Yes (X) | $550,884 | $0 | $83,323 | ||
| KARL PAGEL | |||||||
| CFO | 40.00 | Yes (X) | $334,137 | $0 | $72,616 | ||
| GEOFF STREIT | |||||||
| VP COMMERCIAL LENDING | 40.00 | $345,171 | $0 | $53,764 | Yes (X) | ||
| SHELLEY DEYOUNG | |||||||
| COO | 40.00 | $246,732 | $0 | $41,728 | Yes (X) | ||
| JACK MARTIN | |||||||
| CIO | 40.00 | $232,421 | $0 | $24,471 | Yes (X) | ||
| DANIEL BAKER | |||||||
| CLO | 40.00 | $212,185 | $0 | $38,308 | Yes (X) | ||
| RACHEL HUNTER | |||||||
| CMO | 40.00 | $192,330 | $0 | $34,277 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $2,113,860 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $348,487 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 15 | 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 |
|---|---|---|---|---|---|
| CUNNINGHAM-LIMP DEVELOPMENT | |||||
| 28970 CABOT DRIVE STE 100 | NOVI | MI | 48377 | DEVELOPMENT, DESIGN, AND CONSTRUCTION MA | $2,297,395 |
| INFORMA BUSINESS SYSTEMS INC | |||||
| 5170 HARTSHORN DRIVE | FLUSHING | MI | 48433 | ITMS, SERVICE AGREEMENTS | $1,666,803 |
| DEI INCORPORATED | |||||
| 1550 KEMPER MEADOW DRIVE | CINCINNATI | OH | 45240 | ITM | $1,524,833 |
| Q2 SOFTWARE INC | |||||
| PO BOX 205970 | DALLAS | TX | 753205970 | ONLINE BANKING | $1,478,004 |
| CITY OF TRAVERSE CITY | |||||
| 500 BOARDMAN AVE | TRAVERSE CITY | MI | 49684 | PROPERTY TAXES | $781,209 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 43 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| INTEREST ON LOANS | 522100 | $49,087,908 | $49,087,908 | |
| OTHER PROGRAM SERVICE REVENUE | 522100 | $11,210,523 | $11,210,523 | |
| FEES & CHARGES | 522100 | $7,272,923 | $7,028,377 | $244,546 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $67,571,354 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $3,502,302 | TotalRevenueColumnAmt |
| Exclusion | $3,502,302 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $45,434,501 | SecuritiesAmt |
| Other | $16,200,488 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $45,307,481 | SecuritiesAmt |
| Other | $16,394,005 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $127,020 | SecuritiesAmt |
| Other | -$193,517 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$66,497 | TotalRevenueColumnAmt |
| Exclusion | -$66,497 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | OTHER NON-INTEREST INCOME | Desc |
| Business | 522100 | BusinessCd |
| Total Revenue Column | $1,340,446 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $1,340,446 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $1,340,446 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $72,347,605 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $68,667,254 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $244,546 | UnrelatedBusinessRevenueAmt |
| Exclusion | $3,435,805 | ExclusionAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $12,040,049 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,040,960 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $14,964,327 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $945,106 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,753,816 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,210,535 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $118,782 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,498,969 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,522,200 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $13,130,095 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,214,375 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $121,891 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $607,861 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,422,172 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,075,756 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| PROVISION FOR CREDIT LO | $7,268,100 |
| LOAN SERVICING EXPENSE | $4,075,338 |
| MISC OPERATING EXPENSES | $1,070,672 |
| OPERATING FEES | $140,100 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $68,221,104 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $12,897,097 | BOYAmt |
| EOY | $15,285,611 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $11,091,606 | BOYAmt |
| EOY | $21,683,850 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,668,243 | BOYAmt |
| EOY | $4,842,965 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,843,221 | BOYAmt |
| EOY | $5,635,336 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $728,676,418 | BOYAmt |
| EOY | $774,043,447 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,212,217 | BOYAmt |
| EOY | $1,770,164 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $68,339,707 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $18,180,262 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $44,213,730 | BOYAmt |
| EOY | $50,159,445 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $159,001,735 | BOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $20,334,797 | BOYAmt |
| EOY | $164,709,232 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $667,927 | BOYAmt |
| EOY | $19,657,700 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $24,237,535 | BOYAmt |
| EOY | $29,033,015 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,009,844,526 | BOYAmt |
| EOY | $1,086,820,765 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,368,300 | BOYAmt |
| EOY | $4,669,832 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $75,000,000 | BOYAmt |
| EOY | $3,000,000 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $848,313,011 | BOYAmt |
| EOY | $996,520,275 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $933,681,311 | BOYAmt |
| EOY | $1,004,190,107 | 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 | $76,163,215 | BOYAmt |
| EOY | $82,630,658 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $76,163,215 | BOYAmt |
| EOY | $82,630,658 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,009,844,526 | BOYAmt |
| EOY | $1,086,820,765 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $4,126,501 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $5,754,985 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | -$3,414,043 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | 0 | FSAuditedInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $6,159,809 | OtherCostOrOtherBasisAmt |
| Book Value | $6,159,809 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $43,614,946 | OtherCostOrOtherBasisAmt |
| Depreciation | $6,886,959 | DepreciationAmt |
| Book Value | $36,727,987 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $109,094 | OtherCostOrOtherBasisAmt |
| Depreciation | $97,737 | DepreciationAmt |
| Book Value | $11,357 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $17,754,079 | OtherCostOrOtherBasisAmt |
| Depreciation | $11,080,069 | DepreciationAmt |
| Book Value | $6,674,010 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $701,779 | OtherCostOrOtherBasisAmt |
| Depreciation | $115,497 | DepreciationAmt |
| Book Value | $586,282 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $50,159,445 | TotalBookValueLandBuildingsAmt |
Other Securities OtherSecuritiesGrp (4 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| AFS SECURITIES | $155,558,833 | F |
| PERPETUAL CONTRIBUTED CAPITAL | $2,000,000 | C |
| INV IN CORPORATE CREDIT UNIONS | $248,000 | C |
| ALL OTHER INVESTMENTS | $6,902,399 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $164,709,232 | TotalBookValueSecuritiesAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (3 entries)
| DescDesc | AmtAmt |
|---|---|
| MEMBER SHARES OF ALL TYPES | $990,831,548 |
| NONMEMBER DEPOSITS | $5,681,000 |
| ALLOWANCE FOR CREDIT LOSSES - OFF BALANCE SHEET | $7,727 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $996,520,275 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART X, LINE 2: | FormAndLineReferenceDesc |
| Explanation | THE CREDIT UNION IS EXEMPT, UNDER IRC 501(C)(14), FROM FEDERAL AND STATE INCOME TAXES. THE CREDIT UNION HAS FILED TAX RETURNS IN THE PAST FOR ACTIVITIES IT HAS DEEMED TAXABLE. THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF MARCH 31, 2023 AND 2022. THE CREDIT UNION'S 2020 THROUGH 2022 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | Yes (X) | TravelForCompanionsInd |
| Written Policy Ref T And E Expnss | 0 | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | 0 | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| 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 | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (7 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ANDREW KEMPF | ||||||||||||||
| CEO | $493,709 | $0 | $54,959 | $0 | $2,216 | $0 | $59,921 | $0 | $23,402 | $0 | $634,207 | $0 | $0 | $0 |
| KARL PAGEL | ||||||||||||||
| CFO | $294,759 | $0 | $39,000 | $0 | $378 | $0 | $51,417 | $0 | $21,199 | $0 | $406,753 | $0 | $0 | $0 |
| GEOFF STREIT | ||||||||||||||
| VP COMMERCIAL LENDING | $112,424 | $0 | $232,509 | $0 | $238 | $0 | $29,896 | $0 | $23,868 | $0 | $398,935 | $0 | $0 | $0 |
| SHELLEY DEYOUNG | ||||||||||||||
| COO | $219,442 | $0 | $24,531 | $0 | $2,759 | $0 | $24,776 | $0 | $16,952 | $0 | $288,460 | $0 | $0 | $0 |
| JACK MARTIN | ||||||||||||||
| CIO | $226,240 | $0 | $5,000 | $0 | $1,181 | $0 | $9,138 | $0 | $15,333 | $0 | $256,892 | $0 | $0 | $0 |
| DANIEL BAKER | ||||||||||||||
| CLO | $189,191 | $0 | $22,620 | $0 | $374 | $0 | $17,724 | $0 | $20,584 | $0 | $250,493 | $0 | $0 | $0 |
| RACHEL HUNTER | ||||||||||||||
| CMO | $170,782 | $0 | $21,216 | $0 | $332 | $0 | $16,025 | $0 | $18,252 | $0 | $226,607 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 1A | FormAndLineReferenceDesc |
| Explanation | THE CREDIT UNION COVERS THE TRAVEL OF COMPANIONS FOR STRATEGIC PLANNING AND ONE ADDITIONAL CONFERENCE PER YEAR. | ExplanationTxt |
Schedule L IRS990ScheduleL
Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp (2 entries)
| Relationship With OrgRelationshipWithOrgTxt | Loan PurposeLoanPurposeTxt | Loan From OrganizationLoanFromOrganizationInd | Original PrincipalOriginalPrincipalAmt | Balance DueBalanceDueAmt | DefaultDefaultInd | Board Or Committee ApprovalBoardOrCommitteeApprovalInd | Written AgreementWrittenAgreementInd |
|---|---|---|---|---|---|---|---|
| DAVID LEUSINK | |||||||
| FORMER CEO | SPLIT DOLLAR LOAN | Yes (X) | $3,700,000 | $3,723,163 | 0 | Yes (1) | Yes (1) |
| ANDREW KEMPF | |||||||
| CEO | SPLIT DOLLAR LOAN | Yes (X) | $1,850,000 | $1,912,173 | 0 | Yes (1) | Yes (1) |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | $5,635,336 | 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:DAVID LEUSINK - 4,424,266ANDREW KEMPF - 2,213,250 | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (9 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 1A | WE DO HAVE A BOARD GOVERNANCE HANDBOOK THAT SPEAKS TO DELEGATING APPROPRIATE AUTHORITY TO THE CEO AND SENIOR MANAGEMENT TEAM. |
| FORM 990, PART VI, SECTION A, LINE 6 | THE CREDIT UNION HAS A SINGLE CLASS OF MEMBERS WITH EQUAL RIGHTS OF OWNERSHIP, GOVERNANCE, AND VOTING. |
| FORM 990, PART VI, SECTION A, LINE 7A | MEMBERS VOTE AND ELECT BOARD MEMBERS AT ANNUAL MEETING. |
| FORM 990, PART VI, SECTION A, LINE 7B | MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. |
| FORM 990, PART VI, SECTION B, LINE 11B | MANAGEMENT REVIEWS THE TAX RETURN PRIOR TO FILING WITH THE IRS. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE ORGANIZATION'S OFFICERS, DIRECTORS, TRUSTEES, AND KEY EMPLOYEES ARE REQUIRED TO DISCLOSE ACTUAL OR POTENTIAL CONFLICTS THEY MAY HAVE WITH THE ORGANIZATION. IF A CONFLICT ARISES, THE RESPECTIVE BOARD MEMBER WILL ABSTAIN FROM ANY RELATED DISCUSSION, VOTE, OR SIMILAR ACTION ON THE MATTER. MANAGEMENT RESERVES THE RIGHT TO DETERMINE WHEN AN EMPLOYEE'S ACTIVITIES REPRESENT A CONFLICT OF INTEREST AND TO TAKE WHATEVER ACTION IS APPROPRIATE TO RESOLVE THE SITUATION. |
| FORM 990, PART VI, SECTION B, LINE 15 | PART VI, LINE 15A: THE CEO RECEIVES A PERFORMANCE APPRAISAL FROM THE ENTIRE BOARD AND THEN THE COMPENSATION COMMITTEE MAKES A RECOMMENDATION TO THE BOARD FOR COMPENSATION BASED ON THE RESULTS OF THE APPRAISAL. WAGE RANGES ARE SET BASED ON COMPENSABLE FACTORS USING COMPEASE (A COMPANY THAT LOOKS AT NATIONAL, REGIONAL, STATE AND AREA COMPENSATION SURVEYS). THIS PROCESS TAKES PLACE ANNUALLY, AND IS DOCUMENTED IN COMPENSATION COMMITTEE MINUTES. RESULTS ARE REPORTED TO THE BOARD, BUT THE DETAILS ARE IN THE COMPENSATION COMMITTEE MINUTES. IN ADDITION TO COMPEASE, COPARABILITY DATA WAS PROVIDED TO THE COMPENSATION COMMITTEEE/BOARD FROM GALLAGHER EXECUTIVE COMPENSATION ANALYSIS. PART VI, LINE 15B THE BOARD RECEIVES A SALARY AND WAGE BUDGET FOR REVIEW/APPROVAL, THE DATA IS NOT EMPLOYEE SPECIFIC. THE PERFORMANCE APPRAISAL/REVIEW/WAGE DISCUSSION FOR THE CEO TOOK PLACE IN MARCH WITH THE BOARD CHAIRMAN AND THE CHAIR OF THE COMPENSATION COMMITTEE. THE SALARY AND WAGE BUDGET FOR REVIEW/APPROVAL WAS DONE AS PART OF THE OVERALL BUDGET APPROVAL AT THE JANUARY BOARD MEETING. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2023. |
| FORM 990, PART VI, SECTION C, LINE 19 | MONTHLY FINANCIALS AND OTHER GOVERNING DOCUMENTS ARE AVAILABLE FOR REVIEW UPON REQUEST AT THE CREDIT UNIONS MAIN OFFICES AT 101 N. PARK ST., TRAVERSE CITY, MI |
| FORM 990, PART XI, LINE 9: | ROUNDING CECL ADJUSTMENT -3,414,043. |
Schedule R IRS990ScheduleR
Id Disregarded Entities IdDisregardedEntitiesGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | 4FRONT CAPITAL LLC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 795 | AddressLine1Txt |
| City | TRAVERSE CITY | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 49685 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 841913699 | EIN |
| Primary Activities | INVESTMENTS | PrimaryActivitiesTxt |
| Legal Domicile State | MI | LegalDomicileStateCd |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | 4FRONT CREDIT UNION | BusinessNameLine1Txt |