2021-11-12T11:10:25-06:00 2020-12-31 910189318 MOSS ADAMS LLP 601 W RIVERSIDE AVENUE STE 1800 SPOKANE WA 99201 990 2020-01-01 910567788 HORIZON CREDIT UNION HORI 5099286494 PO BOX 15128 SPOKANE VALLEY WA 99216 JEFF ADAMS CEO 5099286494 2021-11-04 1 JEFF ADAMS 999009999 EMINA O CRESSWELL CPA P01217304 5097472600 2021-11-04 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z JEFF ADAMS PO BOX 15128 SPOKANE VALLEY WA 99216 69680925 0 1269 X WWW.HZCU.ORG X 1947 WA CREDIT UNION OPERATED WITHOUT PROFIT FOR MUTUAL PURPOSES. PROVIDE FINANCIAL SERVICES TO MEMBERS. 9 9 420 13 136989 0 0 0 53066601 64603119 4181206 2040443 77165 24350 57324972 66667912 50172 224919 0 0 18719639 23002579 0 0 0 25355808 29972206 44125619 53199704 13199353 13468208 1121213457 1645911225 988243073 1449668031 132970384 196243194 CREDIT UNION OPERATED WITHOUT PROFIT FOR MUTUAL PURPOSES. 0 0 PROVIDE FINANCIAL SERVICES TO APPROXIMATELY 105,500 MEMBERS. THESE SERVICES INCLUDE BUT ARE NOT LIMITED TO LOANS AND SAVINGS PROGRAMS. THE SERVICES ARE PROVIDED BY AT LEAST NINE NON-PAID VOLUNTEERS AND APPROXIMATELY 340 FULL-TIME PAID EMPLOYEES. 0 0 1 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 15597 0 1 420 1 1 1 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 0 1 1 0 0 1 1 1 0 X DEBORAH PARELIUS 5099286494 PO BOX 15128 SPOKANE VALLEY WA 99216 STEVE SHARON CHAIRMAN OF BOARD 1.00 X X 0 0 0 NANCY RIPLEY 1ST VICE CHAIRMAN 1.00 X X 0 0 0 MIKE BUTLER 2ND VICE CHAIRMAN 1.00 X X 0 0 0 PAT FITZGERALD SECRETARY/TREASURER 1.00 X X 0 0 0 THOMAS DILUZIO DIRECTOR 1.00 X 0 0 0 MARK LODINE DIRECTOR 1.00 X 0 0 0 BERNIE KORTH DIRECTOR 1.00 X 0 0 0 PAT MARLER DIRECTOR 1.00 X 0 0 0 DARIN BURRELL DIRECTOR 1.00 X 0 0 0 JEFF ADAMS CEO 40.00 X 587848 0 656681 MARK NEUMANN COO 40.00 X 335915 0 33606 DEBORAH PARELIUS CFO 39.80 X 326049 0 30717 BRIAN GRYTDAL VP MARKETING 40.00 X 239347 0 33359 JODIE OLSON VP HUMAN RESOURCES 40.00 X 216804 0 33917 GREG CRARY VICE PRESIDENT 40.00 X 214594 0 54874 REED LYTLE DIRECTOR OF LENDING 40.00 X 160772 0 11714 JOHN NEIL VP 40.00 X 158557 0 14578 2239886 0 869446 25 0 1 0 FISERV 405 SCIENCE DRIVE MOORPARK CA 93021 DATA PROCESSING 1738849 BAKER CONSTRUCTION 2711 E SPRAGUE AVE SPOKANE WA 99202 CONSTRUCTION 535760 DIGITAL INSIGHT PO BOX 515306 LOS ANGELES CA 90051 WEBSITE & ELECTRONIC BANKING 511383 DIRECT MAIL ENTERPRISES 812 N NAPA SPOKANE WA 99202 DIRECT MAIL SERVICE 415815 STANLEY PERDUE 41 CAMINO DE LOS ANGELITOS GALISTEO NM 87540 LEGAL 138718 32 INTEREST ON MEMBER LOANS 522100 52630042 52630042 FEES INCOME 522100 5601974 5464985 136989 VISA & DEBIT CARD INCOME 522100 4853513 4853513 OTHER INCOME 525990 1517590 1517590 64603119 2151247 2151247 24350 0 24350 24350 24350 2902209 3013013 -110804 -110804 -110804 66667912 64466130 136989 2064793 222919 2000 1970816 15434391 1912277 2365500 1319595 160180 210724 83028 2433356 1303393 929988 2801740 2164985 129601 12440 7654958 2204080 503695 PROVISION FOR LOAN LOSS 3142347 LOAN PROCESSING 1746254 CARD PROCESSING FEES 1713722 MEMBER SERVICING 1116458 1661257 53199704 16906122 42068958 68682708 112509882 5488601 6354510 2085751 2085751 918965678 1334941219 1515821 1735715 60870254 19731970 30135921 41138284 56053736 70385220 9807 9807 3185752 11250251 18183560 23431628 1121213457 1645911225 12762809 19281513 0 490693 975480264 1429895825 988243073 1449668031 X 0 0 0 0 132970384 196243194 132970384 196243194 1121213457 1645911225 X 13468208 2117299 47687303 X 0 1 X 1 0 8848 8848 8848 1 CREDIT UNION LEGISLATIVE ACTION FUND 18000 INTERNATIONAL BLVD SUITE 350 SEATAC WA 98188 800043051 8848 1690 PART I-A, LINE 1: THE CREDIT UNIONS ONLY INDIRECT POLITICAL CAMPAIGN ACTIVITY IS A CONTRIBUTION TO THE CREDIT UNION LEGISLATIVE ACTION COMMITTEE. 11349205 11349205 31208973 7157735 24051238 921057 729620 191437 16253128 11844615 4408513 1137891 1137891 41138284 MEMBER SHARES & DEPOSITS 1429895825 1429895825 X 66753888 110803 110803 66643085 24827 24827 66667912 53285680 110803 110803 53174877 24827 24827 53199704 PART X, LINE 2: THE CREDIT UNION IS A STATE-CHARTERED CREDIT UNION DESCRIBED IN INTERNAL REVENUE CODE (IRC) SECTION 501(C)(14). AS SUCH, THE CREDIT UNION IS EXEMPT FROM FEDERAL TAXATION OF INCOME DERIVED FROM THE PERFORMANCE OF ACTIVITIES THAT ARE IN FURTHERANCE OF ITS EXEMPT PURPOSES. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME (AS DEFINED IN SECTION 512) DERIVED BY STATE-CHARTERED CREDIT UNIONS. THE SPECIFIC APPLICATION OF SECTION 512 TO THE VARIOUS ACTIVITIES CONDUCTED BY STATE-CHARTERED CREDIT UNIONS HAS BEEN AT ISSUE FOR MANY YEARS. THE INTERNAL REVENUE SERVICE (IRS) HAS ISSUED A SERIES OF TECHNICAL ADVICE MEMORANDA (TAM) TO A NUMBER OF STATE-CHARTERED CREDIT UNIONS LOCATED THROUGHOUT THE COUNTRY. IN THESE TAMS, THE IRS RULED CERTAIN PRODUCTS AND SERVICES TO BE SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. IN LIGHT OF THE TAMS, THE CREDIT UNION HAS ASSESSED ITS ACTIVITIES AND ANY POTENTIAL FEDERAL INCOME TAX LIABILITY. THE CREDIT UNION FILES IRS FORMS 990 AND 990-T, AS APPLICABLE, AND MEASURES AND RECOGNIZES THE IMPLICATIONS OF POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN ITS TAX RETURNS ON AN ONGOING BASIS, IN ACCORDANCE WITH INCOME TAX GUIDANCE. THE CREDIT UNION HAD UNRECOGNIZED TAX BENEFITS IN THE AMOUNT OF $345,000 AT DECEMBER 31, 2019 DUE TO UNRELATED BUSINESS INCOME. THE CREDIT UNION HAD NO UNRECOGNIZED TAX LIABILITIES, AND NO ADJUSTMENTS TO ITS FINANCIAL POSITION, RESULTS OF OPERATIONS, OR CASH FLOWS RELATED TO UNCERTAIN TAX POSITIONS TAKEN FOR THE YEAR ENDED DECEMBER 31, 2020. THE CREDIT UNION IS NO LONGER SUBJECT TO FEDERAL, STATE, OR LOCAL INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR 12 MONTHS PRIOR TO DECEMBER 31, 2017. IF ASSESSED, THE CREDIT UNION RECOGNIZES PENALTIES AND INTEREST ASSOCIATED WITH TAX MATTERS AS PART OF OPERATING EXPENSES. IN 2017, CONGRESS PASSED THE TAX CUTS AND JOBS ACT, WHICH IMPOSES A 21% EXCISE TAX ON EMPLOYEE COMPENSATION IN EXCESS OF $1 MILLION AND DEFERRED COMPENSATION AFTER THE EMPLOYEE HAS LEFT THE ORGANIZATION IN EXCESS OF THREE TIMES THE AVERAGE COMPENSATION OF THE PREVIOUS FIVE YEARS. THE CREDIT UNION HAS NOT INCURRED ANY EXCISE TAXES IN 2020 AND 2019, RESPECTIVELY. PART XI, LINE 2D - OTHER ADJUSTMENTS: LOSS ON SALE OF FIXED ASSETS 110,803. PART XI, LINE 4B - OTHER ADJUSTMENTS: FAIR VALUE ADJUSTMENT 24,827. PART XII, LINE 2D - OTHER ADJUSTMENTS: LOSS ON SALE OF FIXED ASSETS 110,803. PART XII, LINE 4B - OTHER ADJUSTMENTS: FAIR VALUE ADJUSTMENT 24,827. 1 SECOND HARVEST FOOD BANK OF THE INLAND NORTHWEST 1234 EAST FRONT AVE SPOKANE WA 99202 237173826 501(C)3 7500 FOOD BANK SALVATION ARMY 111 QUEEN ANNE AVENUE NORTH SEATTLE WA 98109 410698597 501(C)3 6850 PROGRAMS AND SERVICES FOR QUALIFYING INDIVIDUALS, FOCUSED ON COMBATTING HUNGER NWCUF FAIRSHARE CONTRIBUTION 18000 INTERNATIONAL BLVD SUITE 350 SEATAC WA 98188 911649328 501(C)3 8848 IDENTIFYING AND NURTURING PARTNERSHIPS THAT BRING TOGETHER NORTHWEST CREDIT UNIONS, COMMUNITY ORGANIZATIONS, AND NONPROFITS TO IMPROVE AND GROW REGIONAL ECONOMY. KEY AREAS: ASSET BUILDING, ECONOMIC EMPOWERMENT, COOPERATIVE DEVELOPMENT. WOMEN & CHILDREN'S FREE RESTAURANT 1408 NORTH WASHINGTON SPOKANE WA 99201 911399742 501(C)3 12250 MEALS AND GROCERIES TO FOR QUALIFYING WOMEN, CHILDREN AND FAMILIES PROVIDENCE HEALTH CARE FOUNDATION 101 WEST EIGHTH AVE SPOKANE VALLEY WA 992042364 320014330 501(C)3 5250 PROGRAMS & SERVICES FOR LOW INCOME PREGNANT WOMEN AND CHILDREN WITH DISABILITIES. 5 0 PART I, LINE 2: THE ORGANIZATION KEEPS RECEIPTS OR DOCUMENTATION FOR EACH SPONSORED EVENT. THE ORGANIZATION HAS A POLICY AND SET OF BY-LAWS FOR THE COMMUNITY OUTREACH COMMITTEE TO FOLLOW WHEN APPROVING EXPENDITURES FOR EVENTS. THE COC IS ASSIGNED BY SENIOR MANAGEMENT A BUDGETED EXPENDITURE AMOUNT FOR EACH YEAR. THE DONATIONS WERE MADE TO KNOWN LOCAL CHARITABLE ORGANIZATIONS AND THEREFORE NO FURTHER MONITORING IS DONE TO ENSURE THAT THE FUNDS ARE NOT USED OUTSIDE THE U.S. X 1 1 X X X X 0 1 0 JEFF ADAMS CEO 469446 0 69749 0 48653 0 618152 0 38529 0 1244529 0 0 0 MARK NEUMANN COO 249226 0 42411 0 44278 0 21871 0 11735 0 369521 0 0 0 DEBORAH PARELIUS CFO 265256 0 43254 0 17539 0 17991 0 12726 0 356766 0 0 0 BRIAN GRYTDAL VP MARKETING 169649 0 31934 0 37764 0 19741 0 13618 0 272706 0 0 0 JODIE OLSON VP HUMAN RESOURCES 183819 0 32985 0 0 0 16620 0 17297 0 250721 0 0 0 GREG CRARY VICE PRESIDENT 180412 0 33462 0 720 0 18664 0 36210 0 269468 0 0 0 REED LYTLE DIRECTOR OF LENDING 134134 0 15683 0 10955 0 8848 0 2866 0 172486 0 0 0 JOHN NEIL VP 158557 0 0 0 0 0 6505 0 8073 0 173135 0 0 0 PART I, LINE 1A THE CREDIT UNION REIMBURSES LIMITED ACTUAL EXPENSES FOR SPOUSAL TRAVEL OF BOARD MEMBERS, SUPERVISORY COMMITTEE MEMBERS, THE CEO, AND SENIOR MANAGERS. THIS IS ONLY FOR TRAVEL RELATED TO CREDIT UNION BUSINESS. THE REIMBURSEMENTS ARE NOT TAXABLE COMPENSATION. PART I, LINE 4B JEFF ADAMS, CEO, PARTICIPATES IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN. THE AMOUNT EARNED IN 2020 WAS $596,016. DEBORAH PARELIUS, CFO, AND MARK NEUMANN, COO, PARTICIPATE IN THE SPLIT-DOLLAR LIFE INSURANCE ARRANGEMENT THAT IS TREATED AS A SPLIT-DOLLAR LOAN UNDER TREASURY REGULATIONS SECTION 1.7872-15. MARK NEUMANN COO EXECUTIVE COMPENSATION X 323225 461751 0 1 1 DEBORAH PARELIUS CFO EXECUTIVE COMPENSATION X 1392000 1624000 0 1 1 2085751 SCHEDULE L, PART II, LINE (C) ADDITIONAL EXPLANATION: EXECUTIVE COMPENSATION UNDER A SPLIT-DOLLAR LIFE INSURANCE ARRANGEMENT THAT IS TREATED AS A SPLIT-DOLLAR LOAN UNDER TREASURY REGULATIONS SECTION 1.7872-15. FORM 990, PART VI, SECTION A, LINE 6 ENTITY HAS MEMBERS WHO ELECT MEMBERS OF THE BOARD. FORM 990, PART VI, SECTION A, LINE 7A ENTITY HAS ONE CLASS OF MEMBERS. FORM 990, PART VI, SECTION A, LINE 7B ENTITY HAS MEMBERS WHO HAVE RIGHTS TO RATIFY DECISIONS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE CFO REVIEWS THE FORM 990 AND WILL MAKE A COMPLETE COPY OF IT AVAILABLE TO THE BOARD AT THE NOVEMBER 2021 BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 15 CEO SALARY RANGES ARE PREPARED BY HUMAN RESOURCES BASED ON INDUSTRY COMPARABILITY DATA AND IS REVIEWED BY THE EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE IS COMPRISED OF VOLUNTEER BOARD MEMBERS. CEO PERFORMANCE IS ASSESSED BY ENTIRE BOARD. SALARY TRENDS, BENCHMARKS AND DATA ARE REVIEWED BY THE EXECUTIVE COMMITTEE FOR APPROPRIATE SALARY DETERMINATION AS DELEGATED TO AND AUTHORIZED BY THE BOARD. SENIOR MANAGER SALARY RANGES ARE PREPARED BY HUMAN RESOURCES BASED ON INDUSTRY COMPARABILITY DATA AND REVIEWED BY THE CEO AND THE COMPENSATION COMMITTEE AND/OR BOARD CHAIR. PERFORMANCE IS ASSESSED AND SALARY TRENDS ARE REVIEWED BY THE CEO TO DETERMINE RELEVANT SALARIES. EVERY FEW YEARS THE COMPENSATION DATA AND PROCESS IS REVIEWED BY AN OUTSIDE CONSULTANT. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION DOES NOT MAKE AVAILABLE TO THE PUBLIC THE ORGANIZATION'S GOVERNING DOCUMENTS OR CONFLICT OF INTEREST POLICY. THE ORGANIZATION PUBLISHES THEIR MONTHLY FINANCIAL STATEMENTS AT EACH BRANCH, AND THEIR QUARTERLY FINANCIAL STATEMENTS ARE PUBLISHED ON THE NCUA WEBSITE. THE ORGANIZATION'S ANNUAL REPORT IS AVAILABLE ON THEIR WEBSITE. FORM 990, PART XI, LINE 9: ACTUARIAL GAIN ON DEFINED BENEFIT PLAN 409,046. EQUITY ACQUIRED IN MERGER 47,278,257.