1388 GENFED FINANCIAL CREDIT UNION: Form 990, tax year 2020
View the entire original 990 at ProPublica ↗
- Organization
- 1388 GENFED FINANCIAL CREDIT UNION (EIN 34-0729554)
- Tax period
- 2020-01-01 to 2020-12-31
- Filed
- 2021-11-09
- IRS object ID
- 202103139349301520
- Schema version
- 2020v4.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2021-11-09T08:01:02-06:00 | ReturnTs |
| Tax Period End | 2020-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 472565485 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BUCKINGHAM BUSINESS ADVISORS LLC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 180-A COMMERCE PARK DR | AddressLine1Txt |
| City | WESTERVILLE | CityNm |
| State Abbreviation | OH | StateAbbreviationCd |
| ZIP | 430826067 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2020-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 340729554 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | GENFED FINANCIAL CREDIT UNION INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | GENF | BusinessNameControlTxt |
| Phone | 3307802403 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2492 WEDGEWOOD DR | AddressLine1Txt |
| City | AKRON | CityNm |
| State Abbreviation | OH | StateAbbreviationCd |
| ZIP | 44312 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | JULIA TIMBROOK | PersonNm |
| Person Title | VP OF HR | PersonTitleTxt |
| Phone | 3307802403 | PhoneNum |
| Signature | 2021-10-27 | SignatureDt |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | JULIA | PersonFirstNm |
| Person Last | TIMBROOK | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | ERIN ALDERSON EA | PreparerPersonNm |
| PTIN | P01231640 | PTIN |
| Phone | 6148906620 | PhoneNum |
| Preparation | 2021-10-27 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2020 | TaxYr |
| Build TS | 2022-09-23 18:48:47Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | MICHAEL DORAN | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2492 WEDGEWOOD DR | AddressLine1Txt |
| City | AKRON | CityNm |
| State Abbreviation | OH | StateAbbreviationCd |
| ZIP | 44312 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $12,421,885 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.GENFED.COM | WebsiteAddressTxt |
| Type Of Organization Other | Yes (X) | TypeOfOrganizationOtherInd |
| Other Organization Dsc | CREDIT UNION | OtherOrganizationDsc |
| Formation | 1937 | FormationYr |
| Legal Domicile State | OH | LegalDomicileStateCd |
| Activity Or Mission | TO PROVIDE LENDING, SAVINGS, AND OTHER FINANCIAL SERVICES TO ITS MEMBERS AT TERMS GENERALLY BETTER THAN AVAILABLE IN THE MARKETPLACE AND WITH A SERVICE-BASED EMPHASIS THAT RECOGNIZES THE MEMBERS' STATUS AS OWNERS. | ActivityOrMissionDesc |
| Voting Members Governing Body | 8 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 7 | VotingMembersIndependentCnt |
| Total Employee | 101 | TotalEmployeeCnt |
| Total Volunteers | 7 | TotalVolunteersCnt |
| Total Gross UBI | $31,665 | TotalGrossUBIAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $11,328,821 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $11,162,470 | CYProgramServiceRevenueAmt |
| PY Investment Income | $1,625,637 | PYInvestmentIncomeAmt |
| CY Investment Income | $1,166,155 | CYInvestmentIncomeAmt |
| PY Other Revenue | $592,202 | PYOtherRevenueAmt |
| CY Other Revenue | $93,260 | CYOtherRevenueAmt |
| PY Total Revenue | $13,546,660 | PYTotalRevenueAmt |
| CY Total Revenue | $12,421,885 | CYTotalRevenueAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $1,480,387 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $951,898 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $5,718,518 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $5,027,297 | CYSalariesCompEmpBnftPaidAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $5,755,169 | PYOtherExpensesAmt |
| CY Other Expenses | $5,331,117 | CYOtherExpensesAmt |
| PY Total Expenses | $12,954,074 | PYTotalExpensesAmt |
| CY Total Expenses | $11,310,312 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $592,586 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $1,111,573 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $251,511,114 | TotalAssetsBOYAmt |
| Total Assets EOY | $279,513,043 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $213,765,709 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $240,989,594 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $37,745,405 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $38,523,449 | NetAssetsOrFundBalancesEOYAmt |
| Mission | TO PROVIDE LENDING, SAVINGS, AND OTHER FINANCIAL SERVICES TO ITS MEMBERS AT TERMS GENERALLY BETTER THAN AVAILABLE IN THE MARKETPLACE AND WITH A SERVICE-BASED EMPHASIS THAT RECOGNIZES THE MEMBERS' STATUS AS OWNERS. | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Desc | DIVIDENDS AND INTEREST PAID TO MEMBERS ON APPROXIMATELY 55,400 DEPOSIT ACCOUNTS HELD BY APPROXIMATELY 24,342 MEMBERS. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | DIRECT LABOR AND EMPLOYEE BENEFIT COSTS INCURRED PROVIDING SAVINGS DEPOSIT SERVICES, ORIGINATING NEW LOANS AND SERVICING THE LOAN PORTFOLIO FOR MEMBERS. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | OTHER PROGRAM SERVICES | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Described In Section501c3 | false | DescribedInSection501c3Ind |
| Schedule B Required | false | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Subject To Proxy Tax | false | SubjectToProxyTaxInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Conservation Easements | false | ConservationEasementsInd |
| Collections Of Art | false | CollectionsOfArtInd |
| Credit Counseling | false | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | false | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (true) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | Yes (true) | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | false | ReportProgramRelatedInvstInd |
| Report Other Assets | false | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (true) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | false | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (true) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | false | ConsolidatedAuditFinclStmtInd |
| School Operating | false | SchoolOperatingInd |
| Foreign Office | false | ForeignOfficeInd |
| Foreign Activities | false | ForeignActivitiesInd |
| More Than5000 K To Org | false | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividualsInd |
| Professional Fundraising | false | ProfessionalFundraisingInd |
| Fundraising Activities | false | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | false | GrantsToOrganizationsInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Schedule J Required | Yes (true) | ScheduleJRequiredInd |
| Tax Exempt Bonds | false | TaxExemptBondsInd |
| Loan Outstanding | Yes (true) | LoanOutstandingInd |
| Grant To Related Person | false | GrantToRelatedPersonInd |
| Business Rln With Org Mem | false | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | false | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | false | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | false | DeductibleNonCashContriInd |
| Deductible Art Contribution | false | DeductibleArtContributionInd |
| Terminate Operations | false | TerminateOperationsInd |
| Partial Liquidation | false | PartialLiquidationInd |
| Disregarded Entity | false | DisregardedEntityInd |
| Related Entity | false | RelatedEntityInd |
| Related Organization Ctrl Ent | false | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| IRP Document | 6544 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | false | BackupWthldComplianceInd |
| Employee | 101 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (true) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (true) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (true) | Form990TFiledInd |
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| Indoor Tanning Services | false | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | false | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | false | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 8 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 7 | IndependentVotingMemberCnt |
| Family Or Business Rln | false | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | false | DelegationOfMgmtDutiesInd |
| Change To Org Documents | false | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (true) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (true) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (true) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (true) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (true) | MinutesOfCommitteesInd |
| Officer Mailing Address | false | OfficerMailingAddressInd |
| Local Chapters | false | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (true) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (true) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (true) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (true) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (true) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (true) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (true) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (true) | CompensationProcessOtherInd |
| Investment In Joint Venture | false | InvestmentInJointVentureInd |
| Other Website | Yes (X) | OtherWebsiteInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | ANN BINNIE | PersonNm |
| Phone | 3307802403 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2492 WEDGEWOOD DR | AddressLine1Txt |
| City | AKRON | CityNm |
| State Abbreviation | OH | StateAbbreviationCd |
| ZIP | 44312 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (19 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt |
|---|---|---|---|---|---|---|
| MICHAEL DORAN | ||||||
| PRESIDENT, C | 40.00 | Yes (X) | Yes (X) | $322,274 | $0 | $53,477 |
| CHRISTY YOUNG | ||||||
| SVP, CFO | 40.00 | Yes (X) | $127,046 | $0 | $47,849 | |
| GREG ATHEY | ||||||
| VP, CIO | 40.00 | Yes (X) | $116,923 | $0 | $47,863 | |
| RICHARD TODD | ||||||
| VP, COO | 40.00 | Yes (X) | $105,561 | $0 | $29,967 | |
| JULIA TIMBROOK | ||||||
| VP OF HR | 40.00 | Yes (X) | Yes (X) | $85,340 | $0 | $34,558 |
| ANN BINNIE | ||||||
| VP BRANCH OP | 40.00 | Yes (X) | $81,026 | $0 | $34,668 | |
| THERESA THORNTON | ||||||
| VP LENDING | 40.00 | Yes (X) | $75,483 | $0 | $31,220 | |
| BRANDON PETIT | ||||||
| AVP OF IT | 40.00 | Yes (X) | $87,869 | $0 | $8,091 | |
| KIMBERLY PALLAS | ||||||
| VP, CMO | 40.00 | Yes (X) | $95,216 | $0 | $615 | |
| CHRISTOPHER BAHMER | ||||||
| AVP OF BUSIN | 40.00 | Yes (X) | $73,941 | $0 | $12,289 | |
| CHRISTINE CREW | ||||||
| AVP OF MARKE | 40.00 | Yes (X) | $64,788 | $0 | $11,137 | |
| SUZANNE SMITH | ||||||
| AVP OF COLLE | 40.00 | Yes (X) | $59,238 | $0 | $7,415 | |
| GUNDER GUNDERSEN | ||||||
| MEMBERSHIP O | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| JOYCE JONES | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| NANCY KROH | ||||||
| BOARD CHAIR | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| M JOAN REED | ||||||
| VICE-CHAIR | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| MELINDA STAHL | ||||||
| AUDIT COMMIT | 1.00 | Yes (X) | $0 | $0 | $0 | |
| SYLVIA THOMPSON | ||||||
| SECRETARY/TR | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| MATTHEW TIMBROOK | ||||||
| DIRECTOR, AU | 1.00 | Yes (X) | $0 | $0 | $0 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $1,294,705 | TotalReportableCompFromOrgAmt |
| Total Other Compensation | $319,149 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 4 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | false | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (true) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| LOAN INTEREST | 522291 | $7,537,214 | $7,537,214 |
| FEE INCOME | 522100 | $2,336,922 | $2,336,922 |
| OTHER OPERATING INCOME | 524298 | $1,288,334 | $1,288,334 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $11,162,470 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,161,536 | TotalRevenueColumnAmt |
| Exclusion | $1,161,536 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $4,619 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $4,619 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $4,619 | TotalRevenueColumnAmt |
| Exclusion | $4,619 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | ExclusionExclusionAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| PROVISION FOR LOAN LOSS | 524298 | $61,595 | $61,595 | |
| RENTAL INCOME | 531390 | $31,665 | $31,665 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $93,260 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $12,421,885 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $11,162,470 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $31,665 | UnrelatedBusinessRevenueAmt |
| Exclusion | $1,227,750 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | Yes (X) | InfoInScheduleOPartIXInd |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $951,898 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,294,702 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,653,490 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $516,624 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $394,502 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $167,979 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,768 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $32,194 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,276,542 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $369,629 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,106,267 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $431,324 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $49,566 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $244 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $484,612 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| ATM EXPENSES | $627,198 |
| LOAN SERVICING EXP | $483,189 |
| STATEMENT PROCESSING | $142,179 |
| PLASTIC FRAUD / DISPUTES | $80,616 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $243,789 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $11,310,312 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,823,387 | BOYAmt |
| EOY | $2,916,918 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $27,274,218 | BOYAmt |
| EOY | $36,585,922 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $35,146 | BOYAmt |
| EOY | $148,854 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,081,859 | BOYAmt |
| EOY | $991,813 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $162,531,258 | BOYAmt |
| EOY | $161,542,413 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $306,152 | BOYAmt |
| EOY | $495,382 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $12,914,740 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $6,784,584 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,224,243 | BOYAmt |
| EOY | $6,130,156 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $46,483,890 | BOYAmt |
| EOY | $64,404,961 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $916,398 | BOYAmt |
| EOY | $916,398 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,834,563 | BOYAmt |
| EOY | $5,380,226 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $251,511,114 | BOYAmt |
| EOY | $279,513,043 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,006,402 | BOYAmt |
| EOY | $1,841,123 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $210,759,307 | BOYAmt |
| EOY | $239,148,471 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $213,765,709 | BOYAmt |
| EOY | $240,989,594 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $37,745,405 | BOYAmt |
| EOY | $38,523,449 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $37,745,405 | BOYAmt |
| EOY | $38,523,449 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $251,511,114 | BOYAmt |
| EOY | $279,513,043 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $1,111,573 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $23,483 | NetUnrlzdGainsLossesInvstAmt |
| Prior Period Adjustments | -$677,795 | PriorPeriodAdjustmentsAmt |
| Other Changes In Net Assets | $320,783 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | false | AccountantCompileOrReviewInd |
| FS Audited | Yes (true) | 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 (true) | AuditCommitteeInd |
| Federal Grant Audit Required | false | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $936,887 | OtherCostOrOtherBasisAmt |
| Book Value | $936,887 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $6,719,073 | OtherCostOrOtherBasisAmt |
| Depreciation | $2,479,430 | DepreciationAmt |
| Book Value | $4,239,643 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $341,327 | OtherCostOrOtherBasisAmt |
| Depreciation | $106,988 | DepreciationAmt |
| Book Value | $234,339 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $4,917,453 | OtherCostOrOtherBasisAmt |
| Depreciation | $4,198,166 | DepreciationAmt |
| Book Value | $719,287 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $6,130,156 | TotalBookValueLandBuildingsAmt |
Other Securities OtherSecuritiesGrp (2 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| OTHER INVESTMENTS | $46,284,961 | C |
| DEPOSITS IN COMMERCIAL BANKS & CU | $18,120,000 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $64,404,961 | TotalBookValueSecuritiesAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | SHARES AND DEPOSITS | Desc |
| Amt | $239,148,471 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $239,148,471 | TotalLiabilityAmt |
| Total Rev Etc Audited Fincl Stmt | $12,421,885 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Subtotal | $12,421,885 | RevenueSubtotalAmt |
| Total Revenue Per Form990 | $12,421,885 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $11,310,312 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Subtotal | $11,310,312 | ExpensesSubtotalAmt |
| Total Expenses Per Form990 | $11,310,312 | TotalExpensesPerForm990Amt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Severance Payment | false | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (true) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | false | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (3 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt |
|---|---|---|---|---|---|
| MICHAEL DORAN | |||||
| PRESIDENT, CEO | $271,635 | $50,639 | $33,208 | $20,269 | $375,751 |
| CHRISTY YOUNG | |||||
| SVP, CFO | $116,965 | $10,081 | $35,866 | $11,983 | $174,895 |
| GREG ATHEY | |||||
| VP, CIO | $107,641 | $9,282 | $33,093 | $14,770 | $164,786 |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| SCHEDULE J, PAGE 1, PART I, LINE 4 | CHRISTY YOUNG 0 35,220 0 GREG ATHEY 0 32,400 0 RICHARD TODD 0 29,250 0 JULIA TIMBROOK 0 23,250 0 ANN BINNIE 0 22,500 0 THERESA THORNTON 0 21,000 0 |
| SCHEDULE J, PART III | THE ORGANIZATION HAS 457(F) DEFERRED COMPENSATION PLANS IN EFFECT FOR SENIOR OFFICERS LISTED IN 990, PART VII, SECTION A. FUTURE PAYOUTS WILL OCCUR AT VARIOUS DATES BASED ON A SPECIFIED SCHEDULE FOR EACH PARTICIPANT. SENIOR OFFICERS RECEIVED 457(F) PAYMENTS IN 2020. |
Schedule L IRS990ScheduleL
Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp (12 entries)
| Relationship With OrgRelationshipWithOrgTxt | Loan From OrganizationLoanFromOrganizationInd | Original PrincipalOriginalPrincipalAmt | Balance DueBalanceDueAmt | DefaultDefaultInd | Board Or Committee ApprovalBoardOrCommitteeApprovalInd | Written AgreementWrittenAgreementInd | Loan PurposeLoanPurposeTxt |
|---|---|---|---|---|---|---|---|
| MICHAEL DORAN | |||||||
| PRESIDENT, CEO | Yes (X) | $280,000 | $215,995 | false | false | Yes (true) | |
| RICHARD TODD | |||||||
| VP, COO | Yes (X) | $218,700 | $193,979 | false | false | Yes (true) | PERSONAL LOAN |
| GREG ATHEY | |||||||
| VP, CIO | Yes (X) | $207,000 | $183,839 | false | false | Yes (true) | |
| CHRISTINE CREW | |||||||
| AVP MARKETING | Yes (X) | $151,000 | $137,255 | false | false | Yes (true) | |
| MELINDA STAHL | |||||||
| DIRECTOR | Yes (X) | $130,000 | $99,167 | false | Yes (true) | Yes (true) | PERSONAL LOAN |
| CHRISTOPHER BAHMER | |||||||
| AVP BUSINESS SERVICE | Yes (X) | $87,200 | $58,793 | false | false | Yes (true) | |
| GREG ATHEY | |||||||
| VP, CIO | Yes (X) | $43,199 | $38,281 | false | false | Yes (true) | |
| KIMBERLY PALLAS | |||||||
| VP, CMO | Yes (X) | $114,000 | $30,737 | false | false | Yes (true) | PERSONAL LOAN |
| CHRISTINE CREW | |||||||
| AVP MARKETING | Yes (X) | $21,893 | $13,103 | false | false | Yes (true) | |
| NANCY KROH | |||||||
| DIRECTOR | Yes (X) | $14,871 | $10,499 | false | Yes (true) | Yes (true) | |
| SYLVIA THOMPSON | |||||||
| BOARD SECRETARY/TRE | Yes (X) | $31,376 | $8,841 | false | Yes (true) | Yes (true) | |
| CHRISTINE CREW | |||||||
| AVP, MARKETING | Yes (X) | $25,814 | $1,324 | false | false | Yes (true) | PERSONAL LOAN |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | $991,813 | TotalBalanceDueAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE L, PART II | FormAndLineReferenceDesc |
| Explanation | SYLVIA THOMPSON FROM 31,376 8,841 ( ) IN DEFAULT (X) APPROVED BY BOARD/COMMITTEE (X) WRITTEN AGREEMENT CHRISTINE CREW FROM 25,814 1,324 PERSONAL LOAN ( ) IN DEFAULT ( ) APPROVED BY BOARD/COMMITTEE (X) WRITTEN AGREEMENT | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (10 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PAGE 6, PART VI, LINE 6 | THE CREDIT UNION IS COMPRISED OF A SINGLE CLASS OF APPROXIMATELY 24,342 MEMBER-OWNERS, EACH OF WHICH HAS EQUAL RIGHTS IN OWNERSHIP, GOVERNANCE AND VOTING RIGHTS AT THE ANNUAL MEETING WITH THE EXCEPTION OF THE MEMBER-OWNERS WHO ARE ELECTED TO THE BOARD OF DIRECTORS. |
| FORM 990, PAGE 6, PART VI, LINE 7A | NOT LESS THAN 120 DAYS PRIOR TO THE ANNUAL MEETING, THE CHAIRMAN SHALL APPOINT A NOMINATING COMMITTEE OF NOT LESS THAN THREE MEMBERS. THE NOMINATING COMMITTEE NOMINATES AT LEAST ONE MEMBER FOR EACH VACANCY FOR WHICH REGULAR TERMS EXPIRE. THE COMMITTEE FILES ITS NOMINATIONS WITH THE SECRETARY OF THE CREDIT UNION AT LEAST 90 DAYS BEFORE THE ANNUAL MEETING, AND NOTIFIES IN WRITING ALL MEMBERS ELIGIBLE TO VOTE AT LEAST 75 DAYS BEFORE THE ANNUAL MEETING THAT NOMINATIONS FOR VACANCIES MAY ALSO BE MADE BY PETITION SIGNED BY 1% OF THE MEMBERSHIP, OR 500 MEMBERS, WHICHEVER IS LESS. ALL PERSONS NOMINATED BY EITHER THE NOMINATING COMMITTEE OR BY PETITION MUST BE PLACED BEFORE THE MEMBERS. ALL ELECTIONS ARE DETERMINED BY PLURALITY VOTE BY BALLOT. |
| FORM 990, PAGE 6, PART VI, LINE 7B | ANY ACTION WHICH MAY BE AUTHORIZED OR TAKEN AT A MEETING OF THE MEMBERS MAY BE DONE SO WITHOUT A MEETING WITH THE AFFIRMATIVE VOTE OR APPROVAL OF, AND IN WRITING SIGNED BY ALL THE DIRECTORS OR 2/3 OF THE VOTING MEMBERS, WHO WOULD BE ENTITLED TO NOTICE OF MEETING FOR SUCH PURPOSES. ANY SUCH WRITING SHALL BE FILED WITH OR ENTERED UPON THE RECORDS OF THE CREDIT UNION. CHANGES TO THE ARTICLES OF INCORPORATION AND/OR THE CODE OF REGULATIONS CAN BE APPROVED AT A DULY HELD MEMBER MEETING BY AN AFFIRMATIVE 2/3 VOTE OF VOTING MEMBERS. THE BOARD OF DIRECTORS CAN AMEND THE ARTICLES RELATED TO FIELD OF MEMBERSHIP, NAME OF CORP, PLACE OF PRINCIPAL BUSINESS AND AUTHORIZED NUMBER OF SHARES. ANY AMENDMENTS ARE ONLY EFFECTIVE AFTER APPROVAL BY THE SUPERINTENDENT OF FINANCIAL INSTITUTIONS. |
| FORM 990, PAGE 6, PART VI, LINE 11B | THE BOARD OF DIRECTORS WILL REVIEW THE 990 AT A REGULAR MONTHLY (OR SPECIALLY CALLED, IF NECESSARY) MEETING PRIOR TO IT BEING FILED. |
| FORM 990, PAGE 6, PART VI, LINE 12C | THE COMPLIANCE OFFICER OBTAINS SIGNED "PARTY IN INTEREST" FORMS EACH YEAR DETAILING ACCOUNTS HELD AT THE INSTITUTION BY EMPLOYEES AND OFFICIAL VOLUNTEERS. THE DOCUMENTATION IS MAINTAINED, REVIEWED, AND UPDATED REGULARLY. |
| FORM 990, PAGE 6, PART VI, LINE 15A | THE EXECUTIVE COMMITTEE DETERMINES THE CEO'S WAGE AND ANY ANNUAL BONUS AFTER PERFORMING AN ANNUAL EVALUATION. THE COMMITTEE USES A CURRENT CEO COMPENSATION SURVEY OF CREDIT UNIONS AND COMMUNITY BANKS FOR COMPARISON. THE CEO'S ANNUAL SALARY AND BONUS INFORMATION ALONG WITH THE LETTER FROM THE BOARD CHAIRPERSON (WHO IS ALSO THE CHAIR OF THE EXEC. COMMITTEE) OFFICIALLY STATING THE SAME IS AVAILABLE FOR REVIEW TO THE BOARD OF DIRECTORS AND OUTSIDE AUDITORS DURING THE ANNUAL AUDITS. |
| FORM 990, PAGE 6, PART VI, LINE 15B | THE CEO DETERMINES THE WAGES OF THE OTHER OFFICERS AND KEY EMPLOYEES. THE MOST RECENT CUNA SALARY SURVEY IS USED TO DETERMINE POSITION MIDPOINTS. AN ANNUAL APPRAISAL IS COMPLETED FOR EACH OFFICER OR KEY EMPLOYEE. ANNUAL BONUSES FOR OFFICERS (OTHER THAN CEO) AND KEY STAFF ARE CALCULATED USING A CONSISTENT FORMULA. OFFICER AND KEY EMPLOYEE WAGES ARE AVAILABLE FOR REVIEW TO THE BOARD OF DIRECTORS AND TO OUTSIDE AUDITORS DURING ANNUAL AUDITS. |
| FORM 990, PAGE 6, PART VI, LINE 19 | GENFED PROVIDES THE ANNUAL REPORT AT THE ANNUAL MEETING EACH YEAR, POSTS IT ON THE WEBSITE AND IN BRANCHES AND IT MAY BE REQUESTED THROUGH A BRANCH EMPLOYEE AT ANY OTHER TIME THROUGHOUT THE YEAR. MONTHLY FINANCIALS ARE POSTED IN ALL BRANCHES. THE ARTICLES OF INCORPORATION ARE POSTED ON OHIO STATE'S WEBSITE FOR ANYONE TO VIEW. |
| FORM 990, PART IX, LINE 11G | COMPUTER MAINTENANCE 1,008,452 0 0 IRA ADMIN EXPENSE 13,970 0 0 OTHER OUTSIDE SERVICES 218,397 0 0 PAYROLL PROCESSING 35,723 0 0 TOTAL 1,276,542 0 0 |
| FORM 990, PART XI, LINE 9 | CHANGE IN DEFINED BENEFIT PLAN 320,783 |