2020-08-31T09:00:51-05:00 2019-12-31 450250958 Eide Bailly LLP 1730 Burnt Boat Loop Ste 100 Bismarck ND 585030886 990 2019-01-01 880062898 Silver State Schools Credit Union SILV 7027338820 630 Trade Center Dr Las Vegas NV 89119 Raymond Wilson SVP/CFO 7027338820 2020-08-27 1 Lisa Chaffee CPA P00193453 7012551091 2020-08-27 216.221.101.176 2020-08-27 11:06:38 CD P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 DEA5AAEEBA04E2AF66A8E14BCCBEC2FC2C377148 2019 2020-11-19 02:30:22Z Scott Arkills 630 Trade Center Dr Las Vegas NV 89119 94134493 0 X www.silverstatecu.com X 1951 NV Financial services for members. 6 6 251 9 0 0 0 0 35333785 40012805 5626095 3526370 0 0 40959880 43539175 76110 114825 0 0 11931000 14149516 0 0 0 16582647 20973129 28589757 35237470 12370123 8301705 767633250 828840856 696422655 749385552 71210595 79455304 Excellent Member Service and Financial Solutions - for Life! 0 0 Since it's inception in 1951, Silver State Schools Credit Union (SSSCU) has been deeply rooted in the Southern Nevada community, focusing on improving and strengthening the region it serves. SSSCU is a state chartered co-operative, owned by and designed to serve its members. The core of SSSCU is Southern Nevada and those serving and participating in education. Anyone associated with any educational organization, be they volunteers, students, retirees, employees and members of organizations such as PTAs or PTOs, are eligible to join SSSCU. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 1 1 1 0 0 1 12193 0 1 251 1 0 0 0 0 0 0 0 0 X 6 6 0 0 0 0 1 1 0 1 1 0 0 0 1 1 0 1 1 1 0 0 X Scott Arkills CEO 7027338820 630 Trade Center Dr Las Vegas NV 89119 Teresa Yeoman Chairperson 1.00 0.00 X X 0 0 0 Mitch Fox Vice Chair 1.00 0.00 X X 0 0 0 George Ann Rice Secretary/Treasurer 1.00 0.00 X X 0 0 0 Terry Mannion Director 1.00 0.00 X 0 0 0 Walter Ruffles Director (Jan-May) 1.00 0.00 X 0 0 0 Javier Truillo Director 1.00 0.00 X 0 0 0 Mary Beth Scow Director 1.00 0.00 X 0 0 0 Malinda Watson Director (Jun-Nov) 1.00 0.00 X 0 0 0 Scott Arkills CEO/President 40.00 X 402500 0 26655 Raymond Wilson SVP/CFO 40.00 X 224908 0 19598 James Bolin SVP/CMEO 40.00 X 205716 0 21911 Michael Randall SVP/COO (Jan-Jul) 40.00 X 373443 0 28645 Ann Johnson SVP/CAO 40.00 X 192225 0 35016 Cody Goulding VP/Controller 40.00 X 127180 0 16391 Maria Isabel Sanchez VP Branch Services 40.00 X 109388 0 12955 Cindy Parrish AVP Mortgage Lending 40.00 X 122303 0 8385 Ruth Hernandez Mortgage Loan Originator 40.00 X 142038 0 7797 Bryan West AVP Business Intelligence 40.00 X 105770 0 11818 2005471 0 189171 10 0 1 0 Health Plan of Nevada Inc PO Box 749546 Los Angeles CA 90074 Health Benefit provider 1307186 Financial Supermarkets Inc 383 Clarkesville Street Cornelia GA 30531 Property Consultant/General Contractor 970789 NCR Corporation PO Box 740641 Los Angeles CA 90074 Online Banking/Bill Pay Service Provider 869851 Visa DPS - ACH PO Box 60000 San Francisco CA 91460 Plastic Card Transaction Service Provide 734777 Jack Henry and Associates Inc PO Box 609 Monett MO 65708 Core Systems Service Provider 626969 28 Interest on Loans 522100 26952766 26952766 Fees and Charges 522100 3633683 3633683 9426356 9426356 40012805 2815558 2815558 17764104 33542026 17694158 32901160 69946 640866 710812 710812 43539175 40012805 0 3526370 44825 70000 1534099 9983062 648758 1151878 831719 60191 117580 10000 2408598 3162711 687767 1329630 115518 15549 2050476 1543223 Provision for Loan Loss 2436952 ATM Processing 1780474 Maintenance 1287123 Loan Servicing 1006313 2961024 35237470 54339009 110068300 3231380 3611525 2322187 2394896 7021567 7228002 583361256 615945734 4530334 4878452 25036930 7136111 17241335 17900819 69311477 41184582 26274705 25628546 767633250 828840856 8284070 9917566 688138585 739467986 696422655 749385552 X 0 0 0 0 71210595 79455304 71210595 79455304 767633250 828840856 X 8301705 1362403 -1419399 X X 0 1 X 0 0 11351186 417918 10933268 4864709 1729022 3135687 8821035 4989171 3831864 17900819 Regular Shares 272807790 Money Market 149173570 Draft Account 164032054 IRA Shares 11813711 IRA CD's 16882128 Certificate of Deposit 124758733 739467986 X Part X, Line 2: The Credit Union is exempt from most federal, state, and local taxes under the provisions of the Internal Revenue Code and state tax laws. The Income Taxes Topic of the FASB ASC clarifies accounting for uncertainty in income taxes reported in the consolidated financial statements. The interpretation provides criteria for assessment of individual tax positions and a process for recognition and measurement of uncertain tax positions. Tax positions are evaluated on whether they meet the "more likely than not" standard for sustainability upon examination by tax authorities. The Credit Union is a statechartered credit union as defined 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 directly related to its exempt purposes. However, IRC Section 511 imposes a tax on the unrelated business income (UBI) derived by statechartered credit unions. Beginning in March 2008, the Internal Revenue Service (IRS) released Technical Advice Memorandums to specific statechartered credit unions specifying the revenue sources subject to unrelated business income tax (UBIT). UBI may also be subject to tax in certain states. As a result of adopting the Income Tax Topic of the FASB ASC, the Credit Union has assessed its activities and any potential federal or state income tax liability and determined no liability exists from federal or state taxation of activities deemed to be unrelated to its exempt purpose. Management has determined that the financial impact, if any, of not filing UBITrelated income tax returns in previous years would not be material to the Credit Union's consolidated financial statements for the period from April 1, 2019 to December 31, 2019. 1 The Leukemia & Lymphoma Society 3 International Drive Ste 200 Rye Brook NY 10573 135644916 501 (c)(3) 31500 Cancer research 1 0 Scholarships 35 70000 Part I, Line 2: Scholarships - The scholarships are selected by a committee established by the Board of Directors. SSSCU's marketing department is responsible for receiving all the applications and putting the packets together that removes all student names and other identifying information. The selection committee does not know the personal information of the students until after the selections are made. The selection is made based on the student's grades, community involvement, extracurricular activities, and their application. The scholarships have GPA requirements that need to be maintained in order to continue receiving the scholarship. Student GPA's are reviewed every semester prior to granting the funds. For grants given to organizations that do not support scholarships the organization chooses to provide support to those organizations based on that charitable organization's specific needs. Once the grants are given no further monitoring is considered necessary. X X X X X 1 1 0 Scott Arkills CEO/President 350000 0 52500 0 0 0 16800 0 10769 0 430069 0 0 0 Raymond Wilson SVP/CFO 197098 0 23010 0 4800 0 13207 0 7104 0 245219 0 0 0 James Bolin SVP/CMEO 179385 0 21531 0 4800 0 12055 0 10542 0 228313 0 0 0 Michael Randall SVP/COO (Jan-Jul) 354419 0 16224 0 2800 0 24548 0 4623 0 402614 0 0 0 Ann Johnson SVP/CAO 167889 0 19536 0 4800 0 28527 0 7132 0 227884 0 0 0 Ruth Hernandez Mortgage Loan Originator 139600 0 2438 0 0 0 0 0 8043 0 150081 0 0 0 Part I, Lines 4a-b 4a. Michael Randall - $195,806 Management change settlement 4b. Scott Arkills, CEO/President, participates in a SERP plan. Scott Arkills CEO SERP Split Dollar X 6900000 7228002 0 1 1 7228002 Form 990, Part VI, Section A, line 1 The Executive Officers (ie. the Chairman, Vice-Chairman & Secretary/Treasurer) collectively shall comprise the Executive Committee. The Committee may act for the Board with respect to specifically delegated functions and subject to such limitations as prescribed by the Board. Form 990, Part VI, Section A, line 6 The Organization has members. Form 990, Part VI, Section A, line 6 The following persons are eligible to join Silver State Schools Credit Union: Persons who work in or are volunteers, trustees or board members of public or private schools, colleges, universities, school districts or educational associations located in the state of Nevada; Persons enrolled in the above schools, colleges, universities, school districts or educational associations; Persons who are retirees, pensioners, annuitants of public or private schools, colleges, universities, school districts or educational associations; Persons who are employees or retirees or this credit union and its affiliates; And persons, who are sponsors of Vegas PBS, Channel 10, Southern Nevada's public broadcasting television station. Persons who are employees of the following companies who work in Las Vegas, Nevada: -Abbott's Audio and Video -Creel Printing & Publishing -IKON Office Solutions -Trans Health Incorporated -Mojave Mental Health Services -Nextel Communications/Partners -Northern Pipeline Construction -The Holman Group -Trinity Life Center Members of the following stakes of the Church of Jesus Christ of Latter Day Saints in the State of Nevada: -Lakes -Las Vegas -Lone Mountain -Meadows -Redrock -Sandstone -South Spouses of persons who died while within the field of membership of this credit union, persons retired as pensioners or annuitants from the above employers, members of their immediate families; Immediate family member of eligible members of SSSCU Persons living in the same household (maintaining a single economic unit) as eligible members of this credit union. Form 990, Part VI, Section A, line 7a The Credit Union membership may participate in the election of officials. Form 990, Part VI, Section B, line 11b The Form 990 is completed by an independent accounting firm and reviewed and approved by senior management before it is filed with the IRS. Senior management informs the board of directors when the return is completed. Form 990, Part VI, Section B, line 15a Each year the Board of Directors completes and delivers a performance evaluation of the President/CEO. Compensation surveys are obtained and reviewed by the Board at the time of contract negotiation. Decisions are documented in private executive session minutes. Form 990, Part VI, Section C, line 19 Governing documents and conflict of interest policy are not made available to the public. Financial statements are made available to the public on the ASI (American Share Insurance) website via The Call Report filed quarterly. Form 990, Part XI, line 9: Pension Losses Net of Amortization -1,419,399. Form 990, Part XII, Line 2b: Audited Financial Statements: The financial statement for Silver State Schools Credit Union previously was audited based on a fisal year ending March 31. Starting in 2019 the organization converted to a calendar year audit. For the current year, the audit reported on a short period from April 1, 2019 to December 31, 2019. Accordingly Form 990, Part XII, Line 2b has been answered yes as a consolidated audit was issued. Silver State Schools Service Company LLC 4221 McLeod Drive Las Vegas NV 89121 742952579 Mortgage Services NV 1266800 10493007 Silver State Schools Credit Union Silver State Schools CU People Over Profit Foundation 630 Trade Center Dr Las Vegas NV 891193712 831332084 Supporting education NV 501(c)(3) Line 7 Silver State Schools Credit Union 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0