CENTRAL WILLAMETTE CREDIT UNION: Form 990, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- CENTRAL WILLAMETTE CREDIT UNION (EIN 93-0496543)
- Tax period
- 2023-01-01 to 2023-12-31
- Filed
- 2024-11-12
- IRS object ID
- 202443179349303824
- 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 | 2024-11-12T11:17:20-06:00 | ReturnTs |
| Tax Period End | 2023-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 810987947 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | HAUSER JONES & SAS PLLC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 10940 NE 33RD PLACE SUITE 100 | AddressLine1Txt |
| City | BELLEVUE | CityNm |
| State Abbreviation | WA | StateAbbreviationCd |
| ZIP | 98004 | 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 | 930496543 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CENTRAL WILLAMETTE CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | CENT | BusinessNameControlTxt |
| Phone | 5419176801 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 1899 | AddressLine1Txt |
| City | ALBANY | CityNm |
| State Abbreviation | OR | StateAbbreviationCd |
| ZIP | 97321 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | STACIE WYSS-SCHOENBORN | PersonNm |
| Person Title | PRESIDENT/CEO | PersonTitleTxt |
| Phone | 5419176801 | PhoneNum |
| Signature | 2024-11-12 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | 0 | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | ROGER A JONES CPA | PreparerPersonNm |
| PTIN | P01702335 | PTIN |
| Phone | 4258891778 | PhoneNum |
| Preparation | 2024-11-06 | 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 | STACIE WYSS-SCHOENBORN | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 1899 | AddressLine1Txt |
| City | ALBANY | CityNm |
| State Abbreviation | OR | StateAbbreviationCd |
| ZIP | 97321 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $29,955,433 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.CENTRALWCU.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1955 | FormationYr |
| Legal Domicile State | OR | LegalDomicileStateCd |
| Activity Or Mission | PROVIDE SIMPLIFIED ACCESS TO AFFORDABLE FINANCIAL SERVICES. | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 9 | VotingMembersIndependentCnt |
| Total Employee | 174 | TotalEmployeeCnt |
| Total Volunteers | 12 | TotalVolunteersCnt |
| Total Gross UBI | $141,623 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $1,835,422 | PYContributionsGrantsAmt |
| CY Contributions Grants | $495,000 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $20,953,116 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $26,612,271 | CYProgramServiceRevenueAmt |
| PY Investment Income | $1,769,698 | PYInvestmentIncomeAmt |
| CY Investment Income | $1,663,626 | CYInvestmentIncomeAmt |
| PY Other Revenue | $1,167,540 | PYOtherRevenueAmt |
| CY Other Revenue | $1,184,536 | CYOtherRevenueAmt |
| PY Total Revenue | $25,725,776 | PYTotalRevenueAmt |
| CY Total Revenue | $29,955,433 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $111,020 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $74,893 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $9,104,420 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $10,464,867 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $9,598,091 | PYOtherExpensesAmt |
| CY Other Expenses | $14,390,412 | CYOtherExpensesAmt |
| PY Total Expenses | $18,813,531 | PYTotalExpensesAmt |
| CY Total Expenses | $24,930,172 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $6,912,245 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $5,025,261 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $515,430,336 | TotalAssetsBOYAmt |
| Total Assets EOY | $519,423,795 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $478,987,695 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $477,089,370 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $36,442,641 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $42,334,425 | NetAssetsOrFundBalancesEOYAmt |
| Mission | PROVIDE SIMPLIFIED ACCESS TO AFFORDABLE FINANCIAL SERVICES. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | CENTRAL WILLAMETTE CREDIT UNION SERVICES 35,276 MEMBERS OF OUR COMMUNITY WITH DIVERSE FINANCIAL PRODUCTS AND SERVICES. DURING THE YEAR WE GRANTED A TOTAL OF 5,067 LOANS WORTH $119,620,744 TO OUR MEMBERS. WE HAVE A TOTAL LOAN PORTFOLIO OF 19,753 LOANS WORTH $388,982,008. THE CREDIT UNION MAINTAINS 70,596 DEPOSIT ACCOUNTS FOR OUR MEMBERS WORTH $443,529,558. THE CREDIT UNION EMPLOYS 131 INDIVIDUALS FROM OUR COMMUNITY. | Desc |
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | 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 | 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 | 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 | Yes (1) | 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 | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 8084 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 174 | 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 |
| 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 | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| 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
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | DEWAYNE LEDBETTER | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 5419176801 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 7101 SUPRA DR SW | AddressLine1Txt |
| City | ALBANY | CityNm |
| State Abbreviation | OR | StateAbbreviationCd |
| ZIP | 97321 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (20 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|
| JIM HEALY | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| STEVE UERLINGS | |||||||
| CHAIR | 3.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| TOM CUTSFORTH | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| MARTY CAHILL | |||||||
| SECRETARY | 3.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| MARK YEAGER | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| GREG HAMANN | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| CAROLINA VALLADARES | |||||||
| BOARD VICE CHAIR | 3.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| HELEN HIGGINS | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| SALLY BOVETT | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| STACIE WYSS-SCHOENBORN | |||||||
| CEO & PRESIDENT | 50.00 | $408,210 | $0 | $9,912 | Yes (X) | ||
| RACHEL WOLFE | |||||||
| CLO | 50.00 | $200,189 | $0 | $7,982 | Yes (X) | ||
| JOEY RUDISILL | |||||||
| CIO | 50.00 | $217,144 | $0 | $7,574 | Yes (X) | ||
| DEWAYNE LEDBETTER | |||||||
| CFO | 50.00 | $238,217 | $0 | $8,105 | Yes (X) | ||
| DAVE DESEMPLE | |||||||
| CHIEF EXPERIENCE OFFICER | 50.00 | $168,013 | $0 | $6,961 | Yes (X) | ||
| DAVID DIRKS | |||||||
| CMO | 50.00 | $179,943 | $0 | $0 | Yes (X) | ||
| GRADY CORR | |||||||
| INFORMATION SECURITY OFFIC | 50.00 | $140,112 | $0 | $0 | Yes (X) | ||
| BRYAN BLAIR | |||||||
| SENIOR IT SYSTEMS ENGINEER | 50.00 | $130,598 | $0 | $5,275 | Yes (X) | ||
| VERONICA BRUNER | |||||||
| HR MANAGER | 50.00 | $131,067 | $0 | $5,301 | Yes (X) | ||
| SHAWNA BONABY | |||||||
| CONTROLLER | 50.00 | $129,475 | $0 | $3,202 | Yes (X) | ||
| REBECCA TOLENTINO | |||||||
| DIRECTOR OF BUSINESS SERVICES | 50.00 | $124,182 | $0 | $5,082 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $2,067,150 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $59,394 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 11 | 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 | CREDIT AND DEBIT CARD PROCESSOR | $949,639 |
| MOMENTUM INC | |||||
| 109 BELL STREET ST B | SEATTLE | WA | 98101 | CONSTRUCTION SERVICES | $789,892 |
| TYFONE INC | |||||
| 5331 SW MACADAM AVE STE 251 | PORTLAND | OR | 97239 | ONLINE BANKING PLATFORM SAAS | $388,796 |
| ALPINE MARKETING | |||||
| 13755 SW HILLSHIRE DRIVE | TIGARD | OR | 97223 | MARKETING SERVICES | $367,842 |
| AMAZON WEB SERVICES INC | |||||
| PO BOX 84023 | SEATTLE | WA | 981248423 | WEB SERVICES | $320,303 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 5 | CntrctRcvdGreaterThan100KCnt |
| Government Grants | $495,000 | GovernmentGrantsAmt |
| Total Contributions | $495,000 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| INTEREST ON LOANS | 522100 | $20,749,006 | $20,749,006 | |
| SERVICE CHARGES AND GE | 522100 | $5,863,265 | $5,837,892 | $25,373 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $26,612,271 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,642,577 | TotalRevenueColumnAmt |
| Exclusion | $1,642,577 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $21,049 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $0 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $21,049 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $21,049 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $21,049 | RelatedOrExemptFuncIncomeAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | OTHER NONOPERATING INC | Desc |
| Business | 900099 | BusinessCd |
| Total Revenue Column | $1,184,536 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $1,068,286 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $116,250 | UnrelatedBusinessRevenueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $1,184,536 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $29,955,433 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $27,676,233 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $141,623 | UnrelatedBusinessRevenueAmt |
| Exclusion | $1,642,577 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $74,893 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,411,716 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,077,986 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $176,743 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,075,952 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $722,470 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $77,905 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $114,490 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,990,947 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $524,934 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $800,980 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,497,034 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $798,036 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $223,390 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,029,628 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $935,280 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $129,433 | TotalAmt |
Other Expenses OtherExpensesGrp (3 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| PROVISION FOR LOAN LOSS | $2,209,540 |
| LOAN SERVICING | $861,498 |
| ASSOCIATION DUES | $77,564 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,119,753 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $24,930,172 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,519,094 | BOYAmt |
| EOY | $7,505,874 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $11,007,712 | BOYAmt |
| EOY | $10,459,014 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $373,754,249 | BOYAmt |
| EOY | $385,031,463 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $11,878,862 | BOYAmt |
| EOY | $12,124,131 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $20,094,594 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $10,961,047 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,507,992 | BOYAmt |
| EOY | $9,133,547 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $87,071,580 | BOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,483,300 | BOYAmt |
| EOY | $76,580,744 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $16,207,547 | BOYAmt |
| EOY | $18,589,022 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $515,430,336 | BOYAmt |
| EOY | $519,423,795 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,096,993 | BOYAmt |
| EOY | $9,059,813 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $71,834 | BOYAmt |
| EOY | $98,398 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $14,000,000 | BOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $24,500,000 | BOYAmt |
| EOY | $24,500,000 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $433,318,868 | BOYAmt |
| EOY | $443,431,159 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $478,987,695 | BOYAmt |
| EOY | $477,089,370 | 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 | $36,442,641 | BOYAmt |
| EOY | $42,334,425 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $36,442,641 | BOYAmt |
| EOY | $42,334,425 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $515,430,336 | BOYAmt |
| EOY | $519,423,795 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $5,025,261 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $866,523 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $0 | 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 B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
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 | $1,817,583 | OtherCostOrOtherBasisAmt |
| Book Value | $1,817,583 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $9,722,255 | OtherCostOrOtherBasisAmt |
| Depreciation | $5,453,478 | DepreciationAmt |
| Book Value | $4,268,777 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $2,253,692 | OtherCostOrOtherBasisAmt |
| Depreciation | $1,032,006 | DepreciationAmt |
| Book Value | $1,221,686 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $6,301,064 | OtherCostOrOtherBasisAmt |
| Depreciation | $4,475,563 | DepreciationAmt |
| Book Value | $1,825,501 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $9,133,547 | TotalBookValueLandBuildingsAmt |
Other Securities OtherSecuritiesGrp (3 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| AVAILABLE FOR SALE | $74,148,444 | F |
| CERTIFICATES OF DEPOSIT | $498,000 | F |
| OTHER INVESTMENTS | $1,934,300 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $76,580,744 | TotalBookValueSecuritiesAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | MEMBERS' SHARES | Desc |
| Amt | $443,431,159 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $443,431,159 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $29,934,384 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $29,934,384 | RevenueSubtotalAmt |
| Other Revenues Not Included | $21,049 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $21,049 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $29,955,433 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $24,930,172 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $24,930,172 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $24,930,172 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART IV, LINE 2B: | THE CREDIT UNION HOLDS ESCROW ACCOUNTS TO MANAGE CUSTOMER FUNDS FOR SPECIFIC PURPOSES, LIKE PROPERTY TAXES OR INSURANCE. THESE FUNDS ARE KEPT SEPARATE FROM OTHER ACCOUNTS AND ARE RECORDED AS LIABILITIES UNTIL USED FOR THEIR INTENDED PURPOSE. THE CREDIT UNION IS RESPONSIBLE FOR MANAGING AND DISBURSING THE FUNDS ACCORDING TO THE ESCROW AGREEMENT. |
| PART X, LINE 2: | THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL AND STATE INCOME TAXES, EXCEPT TO THE EXTENT OF UNRELATED BUSINESS INCOME. UNRELATED BUSINESS INCOME IS NOT SIGNIFICANT AND NO PROVISION FOR INCOME TAXES HAS BEEN MADE. THE CREDIT UNION HAD NO UNRECOGNIZED TAX BENEFITS AT DECEMBER 31, 2023. INTEREST ACCRUED AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS WOULD BE RECOGNIZED AS A NONINTEREST EXPENSE. DURING THE YEAR ENDED DECEMBER 31, 2023, AND THE SIX MONTHS ENDED DECEMBER 31, 2022 THE CREDIT UNION RECOGNIZED NO TAX RELATED INTEREST AND PENALTIES. |
| PART XI, LINE 4B - OTHER ADJUSTMENTS: | GAIN ON SALES OF ASSETS 21,049. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | 0 | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (4 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Non Cash AssistanceNonCashAssistanceAmt | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|---|
| ALBANY PARKS & RECREATION | ||||||||
| PO BOX 490 | ALBANY | OR | 97321 | 812465668 | 501(C)3 | $25,000 | $0 | $25K NW ART & AIR FESTIVAL SPONSORSHIP |
| BOYS & GIRLS CLUB OF ALBANY | ||||||||
| 1215 HILL ST SE | ALBANY | OR | 97322 | 930549842 | 501(C)3 | $6,000 | $0 | $5K CELEBRATION OF TREES PRESENTING SPONSOR, $1K ANNUAL AUCTION TABLE |
| DISTRICT 24J MARION COUNTY ORE | ||||||||
| 3501 PORTLAND RD NE | SALEM | OR | 97301 | 936000763 | 501(C)3 | $10,000 | $0 | $10K 2023 CTEC MENTAL HEALTH SPONSORSHIP |
| GO WEST FOUNDATION | ||||||||
| 18000 INTERNATIONAL BLVD STE 1102 | SEATAC | WA | 98188 | 911649328 | 501(C)3 | $15,000 | $0 | $15K - CAR FOR AUCTION BID#1201 CU 4 KIDS |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 4 | Total501c3OrgCnt |
| Total Other Org | 0 | TotalOtherOrgCnt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| 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 (6 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| STACIE WYSS-SCHOENBORN | ||||||||||||||
| CEO & PRESIDENT | $308,023 | $0 | $60,000 | $0 | $40,187 | $0 | $9,912 | $0 | $0 | $0 | $418,122 | $0 | $0 | $0 |
| DEWAYNE LEDBETTER | ||||||||||||||
| CFO | $194,892 | $0 | $24,184 | $0 | $19,141 | $0 | $8,105 | $0 | $0 | $0 | $246,322 | $0 | $0 | $0 |
| JOEY RUDISILL | ||||||||||||||
| CIO | $180,803 | $0 | $20,924 | $0 | $15,417 | $0 | $7,574 | $0 | $0 | $0 | $224,718 | $0 | $0 | $0 |
| RACHEL WOLFE | ||||||||||||||
| CLO | $154,944 | $0 | $20,849 | $0 | $24,396 | $0 | $7,982 | $0 | $0 | $0 | $208,171 | $0 | $0 | $0 |
| DAVID DIRKS | ||||||||||||||
| CMO | $155,539 | $0 | $13,978 | $0 | $10,426 | $0 | $0 | $0 | $0 | $0 | $179,943 | $0 | $0 | $0 |
| DAVE DESEMPLE | ||||||||||||||
| CHIEF EXPERIENCE OFFICER | $145,827 | $0 | $15,740 | $0 | $6,446 | $0 | $6,961 | $0 | $0 | $0 | $174,974 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | LINE 4B | FormAndLineReferenceDesc |
| Explanation | THE FOLLOWING INDIVIDUAL(S) PARTICIPATE IN CAP-EX (A SPLIT DOLLAR LIFE INSURANCE ARRANGEMENT IN PLACE OF A TRADITIONAL SERP) AND RECEIVED THE AMOUNTS (IF ANY) FOLLOWING THEIR NAMES: STACIE WYSS-SCHOENBORN: NO PAYMENTS RECEIVED IN 2023. JOEY RUDISILL: NO PAYMENTS RECEIVED IN 2023. RACHEL WOLFE: NO PAYMENTS RECEIVED IN 2023. SEE SCHEDULE L, PART V, FOR A BROADER DESCRIPTION OF THE ARRANGEMENT. | ExplanationTxt |
Schedule L IRS990ScheduleL
Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp (3 entries)
| Relationship With OrgRelationshipWithOrgTxt | Loan PurposeLoanPurposeTxt | Loan From OrganizationLoanFromOrganizationInd | Original PrincipalOriginalPrincipalAmt | Balance DueBalanceDueAmt | DefaultDefaultInd | Board Or Committee ApprovalBoardOrCommitteeApprovalInd | Written AgreementWrittenAgreementInd |
|---|---|---|---|---|---|---|---|
| STACIE WYSS-SCHOENBORN | |||||||
| CEO | SPLIT DOLLAR LIFE INSURANCE | Yes (X) | $6,700,000 | $6,972,708 | 0 | Yes (1) | Yes (1) |
| RACHEL WOLFE | |||||||
| CLO | SPLIT DOLLAR LIFE INSURANCE | Yes (X) | $1,530,000 | $1,590,480 | 0 | Yes (1) | Yes (1) |
| JOEY RUDISILL | |||||||
| CIO | SPLIT DOLLAR LIFE INSURANCE | Yes (X) | $3,430,000 | $3,560,943 | 0 | Yes (1) | Yes (1) |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | $12,124,131 | TotalBalanceDueAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE L, PART II, SPLIT DOLLAR LIFE INSURANCE TERMS AND CONDITIONS | FormAndLineReferenceDesc |
| Explanation | THE ORGANIZATION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS THROUGH AN ALTERNATIVE FUNDING ARRANGEMENT THE IRS CALLS "COLLATERAL ASSIGNMENT SPLIT DOLLAR" (CASD). ALTHOUGH THE IRS REQUIRES REPORTING IN THE LOAN SECTION OF SCHEDULE L, CASD IS NOT A LOAN BECAUSE NO FUNDS ARE TRANSFERRED TO THE EXECUTIVE. RATHER, THE "LOAN" TREATMENT APPLIES BECAUSE AFTER THE EXECUTIVE HAS RECEIVED RETIREMENT BENEFITS, THE ORGANIZATION RECOVERS ALL OF ITS OUTLAYS PLUS INTEREST.THE RECOVERY RIGHT IS A KEY ADVANTAGE OF CASD FOR THE ORGANIZATION. RATHER THAN PAYING RETIREMENT BENEFITS TO THE EXECUTIVE THAT WOULD NEVER BE RECOVERED, UNDER CASD THE ORGANIZATION RECOVERS NOT ONLY ITS OUTLAYS BUT ALSO CONSIDERATION FOR THE TIME VALUE OF MONEY.CASD WORKS AS FOLLOWS. THE ORGANIZATION DEPOSITS FUNDS INTO CASH VALUE LIFE INSURANCE POLICIES ON THE EXECUTIVE'S LIFE. DURING LIFE, TO THE EXTENT THE EXECUTIVE FULFILLS SERVICE AND VESTING REQUIREMENTS, THE EXECUTIVE CAN BORROW AGAINST THE CASH SURRENDER VALUE TO SUPPLEMENT RETIREMENT INCOME. POLICY PERFORMANCE IS CLOSELY MONITORED. IF POLICY PERFORMANCE LAGS, THE EXECUTIVE'S BORROWING RIGHTS ARE REDUCED TO PROTECT THE ORGANIZATION'S RECOVERY RIGHTS.AT THE EXECUTIVE'S DEATH, THE POLICY DEATH PROCEEDS ARE FIRST USED TO REPAY THE ORGANIZATION ITS DEPOSITS PLUS COMPOUNDED INTEREST (AT THE IRS LONG-TERM APPLICABLE FEDERAL RATE). THE EXECUTIVE'S BENEFICIARY THEN RECEIVES ANY PROJECTED RETIREMENT BORROWING THE EXECUTIVE DID NOT ACCESS DURING LIFE. ANY REMAINING DEATH PROCEEDS 1. ARE AVAILABLE TO BE PAID TO THE EXECUTIVE'S BENEFICIARY.2. ARE DIVIDED BETWEEN THE ORGANIZATION AND THE EXECUTIVE'S BENEFICIARY.3. WERE AVAILABLE TO BE PAID TO THE EXECUTIVE'S BENEFICIARY. HOWEVER, THE EXECUTIVE DECIDED TO MAKE A GIFT OF 50% OF THE EXCESS PROCEEDS TO THE ORGANIZATION TO PROVIDE ADDITIONAL FUNDING FOR THE ORGANIZATION'S CHARITABLE ACTIVITIES. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (8 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | THE CREDIT UNION HAS MEMBERS. |
| FORM 990, PART VI, SECTION A, LINE 7A | EACH CREDIT UNION MEMBER HAS ONE VOTE TOWARDS THE ELECTION OF THE CREDIT UNION'S GOVERNING BODY. |
| FORM 990, PART VI, SECTION B, LINE 11B | FORM 990 IS MADE AVAILABLE FOR REVIEW BY THE BOARD AT REGULARLY SCHEDULED MEETINGS AFTER THE FORM IS FILED. THE CREDIT UNION'S CEO IS PROVIDED WITH A COPY OF THE FORM 990 PRIOR TO FILING. |
| FORM 990, PART VI, SECTION B, LINE 12C | ANNUALLY, EMPLOYEES MUST REVIEW THE CREDIT UNION'S CONFLICT OF INTEREST POLICY AND SIGN A STATEMENT THAT THEY HAVE READ THE POLICY. THE COMPLIANCE OFFICER OF THE CREDIT UNION CONDUCTS STAFF MEETINGS TO REVIEW THE POLICY AND ANSWER ANY QUESTIONS. THE COMPLIANCE OFFICER ALSO REVIEWS THE POLICY WITH THE BOARD OF DIRECTORS. EMPLOYEE AND DIRECTOR TRANSACTIONS ARE MONITORED BY THE CREDIT UNION'S INTERNAL AUDITOR FOR ANY POSSIBLE CONFLICTS. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE CEO'S COMPENSATION IS REVIEWED BY THE CREDIT UNION'S GOVERNANCE COMMITTEE. THE COMMITTEE MAKES RECOMMENDATIONS TO THE BOARD OF DIRECTORS. THE BOARD MAKES THE FINAL DETERMINATION. KEY EMPLOYEES HAVE THEIR COMPENSATION REVIEWED BY THE CEO. IN ALL CASES, INDUSTRY COMPENSATION SURVEYS AND LOCAL DATA ARE USED TO DETERMINE INDIVIDUAL AMOUNTS. THE CREDIT UNION ALSO HAS POLICIES IN THE EMPLOYEE MANUAL THAT COVER COMPENSATION, PERFORMANCE REVIEWS, AND INCENTIVES. CEO COMPENSATION WAS LAST REVIEWED IN DECEMBER 2023. KEY EMPLOYEE COMPENSATION ANALYSIS WAS LAST CONDUCTED IN DECEMBER 2023. |
| FORM 990, PART VI, SECTION C, LINE 18 | MADE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST. |
| FORM 990, PART VI, SECTION C, LINE 19 | GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICIES ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. |
| FORM 990, PART XII, 2C | THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. |