BOULDER DAM CREDIT UNION: Form 990, tax year 2024
View the entire original 990 at ProPublica ↗
- Organization
- BOULDER DAM CREDIT UNION (EIN 88-0059939)
- Tax period
- 2024-01-01 to 2024-12-31
- Filed
- 2025-11-13
- IRS object ID
- 202503179349300435
- Schema version
- 2024v5.2
- 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 | 2025-11-13T08:08:48-06:00 | ReturnTs |
| Tax Period End | 2024-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 420714325 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RSM US LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4650 EAST 53RD STREET | AddressLine1Txt |
| City | DAVENPORT | CityNm |
| State Abbreviation | IA | StateAbbreviationCd |
| ZIP | 528073479 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2024-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 880059939 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BOULDER DAM CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | BOUL | BusinessNameControlTxt |
| Phone | 7022937777 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 61530 | AddressLine1Txt |
| City | BOULDER CITY | CityNm |
| State Abbreviation | NV | StateAbbreviationCd |
| ZIP | 890061530 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | STEELE HENDRIX | PersonNm |
| Person Title | PRESIDENT & CEO | PersonTitleTxt |
| Phone | 7022937777 | PhoneNum |
| Signature | 2025-11-10 | 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 | JENIFER L CHASE | PreparerPersonNm |
| PTIN | P01306883 | PTIN |
| Phone | 5638884000 | PhoneNum |
| Preparation | 2025-11-10 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2024 | TaxYr |
| Build TS | 2025-03-06 01:10:19Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | STEELE HENDRIX | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 61530 | AddressLine1Txt |
| City | BOULDER CITY | CityNm |
| State Abbreviation | NV | StateAbbreviationCd |
| ZIP | 890061530 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $38,822,882 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.BOULDERDAMCU.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1940 | FormationYr |
| Legal Domicile State | NV | LegalDomicileStateCd |
| Activity Or Mission | WE ARE PEOPLE HELPING PEOPLE BUILD THEIR FUTURES AND REALIZE THEIR DREAMS BY PROVIDING SHARE AND LOAN ACCOUNTS AND OTHER FINANCIAL SERVICES. | ActivityOrMissionDesc |
| Voting Members Governing Body | 7 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 7 | VotingMembersIndependentCnt |
| Total Employee | 53 | TotalEmployeeCnt |
| Total Volunteers | 11 | TotalVolunteersCnt |
| Total Gross UBI | $130,799 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $13,625,441 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $17,362,881 | CYProgramServiceRevenueAmt |
| PY Investment Income | $21,572,107 | PYInvestmentIncomeAmt |
| CY Investment Income | $21,445,714 | CYInvestmentIncomeAmt |
| PY Other Revenue | $575,545 | PYOtherRevenueAmt |
| CY Other Revenue | $14,287 | CYOtherRevenueAmt |
| PY Total Revenue | $35,773,093 | PYTotalRevenueAmt |
| CY Total Revenue | $38,822,882 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $6,003,288 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $6,123,708 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $22,823,139 | PYOtherExpensesAmt |
| CY Other Expenses | $22,810,371 | CYOtherExpensesAmt |
| PY Total Expenses | $28,826,427 | PYTotalExpensesAmt |
| CY Total Expenses | $28,934,079 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $6,946,666 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $9,888,803 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $808,419,660 | TotalAssetsBOYAmt |
| Total Assets EOY | $829,187,256 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $724,453,384 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $730,626,722 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $83,966,276 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $98,560,534 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | OUR MISSION IS TO MEET THE FINANCIAL NEEDS OF OUR MEMBERS BY PROVIDING EXCEPTIONAL SERVICE, INSTITUTIONAL INTEGRITY AND FINANCIAL STABILITY. WE ARE COMMITTED TO DELIVERING COMPETITIVE PRODUCTS, INNOVATIVE SERVICES AND TIMELY EDUCATION WHILE OFFERING OUR EMPLOYEES A PROFESSIONAL, CHALLENGING AND REWARDING CAREER. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | ONE OF BOULDER DAM CREDIT UNION'S (THE CREDIT UNION) TWO PRIMARY PURPOSES IS TO PROVIDE CREDIT TO ITS MEMBERS AT A COMPETITIVE RATE. THE CREDIT UNION PROVIDES REAL ESTATE, AUTO, BOAT, RV, AND SIGNATURE AND VISA LOANS TO ELIGIBLE MEMBERS. AS OF 12/31/2024, THE CREDIT UNION HAD 3,430 LOANS WITH A TOTAL BALANCE OF APPROXIMATELY $316.6 MILLION AND 2,211 VISA CARDS WITH A BALANCE OF APPROXIMATELY $1.92 MILLION. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | THE SECOND MAIN SERVICE THAT BOULDER DAM CREDIT UNION (THE CREDIT UNION) OFFERS IS DEPOSIT SERVICES TO ELIGIBLE MEMBERS. THE CREDIT UNION OFFERS SAVINGS ACCOUNTS, CHECKING ACCOUNTS, AND INDIVIDUAL RETIREMENT ACCOUNTS TO ALL MEMBERS. IN ORDER TO MAINTAIN A SHARE ACCOUNT AN INDIVIDUAL MUST BE ELIGIBLE FOR MEMBERSHIP. ELIGIBILITY REQUIRES THAT A PERSON LIVE OR WORK IN BOULDER CITY, NEVADA. DUE TO THE EXCEPTIONAL SERVICE LEVEL PROVIDED BY THE CREDIT UNION, APPROXIMATELY 90% OF ELIGIBLE MEMBERS ARE MEMBERS OF THE CREDIT UNION. ONCE AGAIN, THE CREDIT UNION DOES NOT CHARGE FEES FOR DEPOSIT ACCOUNTS; OTHER THAN PUNITIVE FEES FOR OVERDRAFTS AND INSUFFICIENT FUND ITEMS. AT 12/31/2024, THE CREDIT UNION HAD 20,103 MEMBERS TOTALING $729,259,899 IN SHARE DEPOSITS. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | AN ANCILLARY PRODUCT OFFERED BY BOULDER DAM CREDIT UNION (THE CREDIT UNION) IS THE ELECTRONIC DELIVERY OF SERVICES. THE CREDIT UNION OFFERS DEBIT CARDS, VISA CREDIT CARDS, ATM ACCESS, MOBILE APP ACCESS, ZELLE, PHONE ACCOUNT ACCESS AND INTERNET ACCOUNT ACCESS. ALL SERVICES ARE OFFERED AT NO COST TO ELIGIBLE MEMBERS. ADDITIONALLY, THE CREDIT UNION BELONGS TO THE CO-OP ATM NETWORK, WHICH ENABLES MEMBER TO USE NETWORK RELATED ATMS NATIONWIDE WITH NO SURCHARGE. APPROXIMATELY 60% OF OUR MEMBERS UTILIZE SOME TYPE OF ELECTRONIC DELIVERY SERVICE. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | Yes (1) | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | Yes (1) | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 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 | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | Yes (1) | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 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 | 13295 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 53 | 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 |
| 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 | 7 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 7 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | Yes (1) | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | 0 | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | 0 | ConflictOfInterestPolicyInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | 0 | 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 | STEELE HENDRIX | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 7022937777 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 61530 | AddressLine1Txt |
| City | BOULDER CITY | CityNm |
| State Abbreviation | NV | StateAbbreviationCd |
| ZIP | 890061530 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (15 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| CYNDY ANDERSON | ||||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | |||
| FRANK DISANZA | ||||||||
| TREASURER | 2.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | ||
| CHARMAINE FERRARI | ||||||||
| SECRETARY | 2.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | ||
| ROBERT MERRELL | ||||||||
| VICE CHAIR | 2.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | ||
| TINA MULLIS | ||||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | |||
| TERRY STEVENS | ||||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | |||
| DOUG SCHEPPMAN | ||||||||
| CHAIR | 2.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | ||
| STEELE HENDRIX | ||||||||
| PRESIDENT / CEO | 40.00 | $342,043 | $0 | $114,656 | Yes (X) | |||
| JARON SINGLETON | ||||||||
| VICE-PRESIDENT / CFO | 40.00 | $156,329 | $0 | $59,981 | Yes (X) | |||
| KYLE JOHNSON | ||||||||
| VICE-PRESIDENT / RISK MANAGEMENT | 40.00 | $156,143 | $0 | $69,093 | Yes (X) | |||
| MARY BETH CLIFT | ||||||||
| MEMBER SERVICES COORDINATOR | 40.00 | $170,883 | $0 | $48,268 | Yes (X) | |||
| TERI SIMMONS | ||||||||
| ASSISTANT OPERATIONS COORDINATOR | 40.00 | $127,513 | $0 | $43,679 | Yes (X) | |||
| BARBARA BENNETT | ||||||||
| LOAN COORDINATOR | 40.00 | $139,414 | $0 | $50,837 | Yes (X) | |||
| NANCY WARD | ||||||||
| FORMER ACCOUNT ADMINISTRATOR | 40.00 | $139,035 | $0 | $12,891 | Yes (X) | |||
| KIM DENNETT | ||||||||
| ASSISTANT LOAN COORDINATOR | 40.00 | $115,989 | $0 | $42,179 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $1,347,349 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $441,584 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 10 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (4 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| FISERV | |||||
| 2601 NETWORK BLVD SUITE 600 | FRISCO | TX | 75034 | DATA PROCESSING | $1,899,587 |
| QUALITY CONSTRUCTION MANAGERS | |||||
| 1011 INDUSTRIAL RD STE 5 | BOULDER CITY | NV | 89005 | CONSTRUCTION | $530,148 |
| BUSINESS DATA INC | |||||
| PO BOX 91218 | LOS ANGELES | CA | 90009 | STATEMENT PROCESSING AND MAILING | $145,945 |
| DIEBOLD NIXDORF | |||||
| PO BOX 643543 | PITTSBURGH | PA | 15264 | ATM SERVICES AND SUPPORT | $123,872 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 4 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| LOAN INTEREST | 522100 | $15,644,329 | $15,644,329 | |
| SERVICE CHARGES & OTHER FEES | 522100 | $1,188,013 | $1,170,503 | $17,510 |
| OTHER NONINTEREST INCOME | 522100 | $530,539 | $417,250 | $113,289 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $17,362,881 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $21,445,714 | TotalRevenueColumnAmt |
| Exclusion | $21,445,714 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $14,287 | RealAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $14,287 | RealAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $14,287 | TotalRevenueColumnAmt |
| Exclusion | $14,287 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $38,822,882 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $17,232,082 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $130,799 | UnrelatedBusinessRevenueAmt |
| Exclusion | $21,460,001 | ExclusionAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $898,246 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,620,533 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $630,329 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $633,774 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $340,826 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $63,822 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,699,017 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $223,099 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $413,525 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $743,818 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $235,362 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $38,213 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $14 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $34,812 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,652 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| DIVIDENDS PAID TO MEMBE | $17,768,265 |
| ATM/CARD EXPENSE | $1,000,132 |
| LOAN SERVICING EXPENSES | $301,662 |
| ASSOCIATION DUES | $21,887 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $263,091 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $28,934,079 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $46,772,203 | BOYAmt |
| EOY | $90,056,818 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,681,752 | BOYAmt |
| EOY | $5,419,095 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $271,173,158 | BOYAmt |
| EOY | $316,278,228 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,398 | BOYAmt |
| EOY | $256,322 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $6,235,230 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $5,136,568 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,098,662 | BOYAmt |
| EOY | $1,098,662 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $482,675,229 | BOYAmt |
| EOY | $413,549,944 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $14,258 | BOYAmt |
| EOY | $2,528,187 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $808,419,660 | BOYAmt |
| EOY | $829,187,256 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,210,980 | BOYAmt |
| EOY | $1,366,823 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $723,242,404 | BOYAmt |
| EOY | $729,259,899 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $724,453,384 | BOYAmt |
| EOY | $730,626,722 | 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 | $83,966,276 | BOYAmt |
| EOY | $98,560,534 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $83,966,276 | BOYAmt |
| EOY | $98,560,534 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $808,419,660 | BOYAmt |
| EOY | $829,187,256 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $9,888,803 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $4,705,455 | 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 C IRS990ScheduleC
| Field | Value | IRS element (for citing) |
|---|---|---|
| Political Expenditures | $10,000 | PoliticalExpendituresAmt |
| Volunteer Hours | 150 | VolunteerHoursCnt |
| Internal Funds Contributed | $10,000 | InternalFundsContributedAmt |
| Total Exempt Function Expend | $10,000 | TotalExemptFunctionExpendAmt |
| Form1120 POL Filed | Yes (1) | Form1120POLFiledInd |
Section527 Political Org Section527PoliticalOrgGrp
Organization Business Name OrganizationBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NEVADA CREDIT UNION LEAGUE PAC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 6475 W SAHARA AVE | AddressLine1Txt |
| City | LAS VEGAS | CityNm |
| State Abbreviation | NV | StateAbbreviationCd |
| ZIP | 89146 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 880270264 | EIN |
| Paid Internal Funds | $10,000 | PaidInternalFundsAmt |
| Contributions Rcvd Dlvr | $0 | ContributionsRcvdDlvrAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I-A, LINE 1: | FormAndLineReferenceDesc |
| Explanation | BOULDER DAM CREDIT UNION MAKES AN ANNUAL CONTRIBUTION TO THE NEVADA CREDIT UNION LEAGUE POLITICAL ACTION COMMITTEE (PAC). THIS PAC MAKES CONTRIBUTIONS TO STATE LEVEL CANDIDATES WHO ARE FRIENDS OF CREDIT UNIONS. | ExplanationTxt |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,098,662 | OtherCostOrOtherBasisAmt |
| Book Value | $1,098,662 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $4,853,483 | OtherCostOrOtherBasisAmt |
| Depreciation | $4,853,483 | DepreciationAmt |
| Book Value | $0 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $283,085 | OtherCostOrOtherBasisAmt |
| Depreciation | $283,085 | DepreciationAmt |
| Book Value | $0 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $1,098,662 | TotalBookValueLandBuildingsAmt |
Other Securities OtherSecuritiesGrp (8 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| ACCRUED INTEREST/INCOME | $2,330,662 | C |
| SHARE INSURANCE DEPOSIT | $9,852,190 | C |
| AVAILABLE FOR SALE | $338,144,123 | F |
| US GOV'T OBLIGATIONS & FED AGENCY SECURITIES | $40,898,929 | C |
| FED AGENCY SEC/RESIDENTIAL MTG-BACKED SEC/SBA POOLS/COLLATERALIZED MTG | $8,421,186 | C |
| CU COOPERATIVE SYSTEMS STOCK | $20,000 | C |
| FHLB DEPOSIT / CAPITAL ACCOUNT | $13,490,854 | C |
| FISERV RESERVE SETTLEMENT ACCOUNT | $392,000 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $413,549,944 | TotalBookValueSecuritiesAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | MEMBER SHARES AND DEPOSITS | Desc |
| Amt | $729,259,899 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $729,259,899 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $38,233,577 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $38,233,577 | RevenueSubtotalAmt |
| Other Revenues Not Included | $589,305 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $589,305 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $38,822,882 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $28,344,774 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $28,344,774 | ExpensesSubtotalAmt |
| Other Expenses Not Included | $589,305 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $589,305 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $28,934,079 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART X, LINE 2: | BOULDER DAM CREDIT UNION (THE CREDIT UNION) IS EXEMPT, BY STATUTE, FROM FEDERAL INCOME TAXES. THE CREDIT UNION IS A NEVADA STATE-CHARTERED CREDIT UNION DESCRIBED IN THE 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, THE CREDIT UNION IS SUBJECT TO UNRELATED BUSINESS INCOME TAX (UBIT). FASB CODIFICATION TOPIC 740, INCOME TAXES, PROVIDES GUIDANCE FOR HOW UNCERTAIN TAX POSITIONS SHOULD BE RECOGNIZED, MEASURED, DISCLOSED, AND PRESENTED IN THE FINANCIAL STATEMENTS. THIS REQUIRES AN EVALUATION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN THE COURSE OF PREPARING THE CREDIT UNION'S TAX RETURNS TO DETERMINE WHETHER THE TAX POSITION IS MORE-LIKELY-THAN-NOT "WHEN CHALLENGED OR "WHEN EXAMINED" BY THE APPLICABLE TAX AUTHORITY. TAX POSITIONS NOT DEEMED TO MEET THE MORE-LIKELY-THAN-NOT THRESHOLD WOULD BE RECORDED AS A TAX EXPENSE AND LIABILITY IN THE CURRENT YEAR. FOR THE YEARS ENDED DECEMBER 31, 2024, AND 2023 MANAGEMENT HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS. |
| PART XI, LINE 4B - OTHER ADJUSTMENTS: | INTEREST REFUND TO MEMBERS RECLASSIFIED TO FUNCTIONAL EXPENSE 589,305. |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | INTEREST REFUND TO MEMBERS RECLASSIFIED TO FUNCTIONAL EXPENSE 589,305. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (8 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| STEELE HENDRIX | ||||||||||||||
| PRESIDENT / CEO | $340,332 | $0 | $0 | $0 | $1,711 | $0 | $67,000 | $0 | $47,656 | $0 | $456,699 | $0 | $0 | $0 |
| KYLE JOHNSON | ||||||||||||||
| VICE-PRESIDENT / RISK MANAGEMENT | $155,425 | $0 | $0 | $0 | $718 | $0 | $31,000 | $0 | $38,093 | $0 | $225,236 | $0 | $0 | $0 |
| MARY BETH CLIFT | ||||||||||||||
| MEMBER SERVICES COORDINATOR | $168,411 | $0 | $0 | $0 | $2,472 | $0 | $33,993 | $0 | $14,275 | $0 | $219,151 | $0 | $0 | $0 |
| JARON SINGLETON | ||||||||||||||
| VICE-PRESIDENT / CFO | $155,861 | $0 | $0 | $0 | $468 | $0 | $31,000 | $0 | $28,981 | $0 | $216,310 | $0 | $0 | $0 |
| BARBARA BENNETT | ||||||||||||||
| LOAN COORDINATOR | $137,350 | $0 | $0 | $0 | $2,064 | $0 | $28,040 | $0 | $22,797 | $0 | $190,251 | $0 | $0 | $0 |
| TERI SIMMONS | ||||||||||||||
| ASSISTANT OPERATIONS COORDINATOR | $125,969 | $0 | $0 | $0 | $1,544 | $0 | $24,875 | $0 | $18,804 | $0 | $171,192 | $0 | $0 | $0 |
| KIM DENNETT | ||||||||||||||
| ASSISTANT LOAN COORDINATOR | $113,505 | $0 | $0 | $0 | $2,484 | $0 | $22,641 | $0 | $19,538 | $0 | $158,168 | $0 | $0 | $0 |
| NANCY WARD | ||||||||||||||
| FORMER ACCOUNT ADMINISTRATOR | $139,035 | $0 | $0 | $0 | $0 | $0 | $9,686 | $0 | $3,205 | $0 | $151,926 | $0 | $0 | $0 |
Schedule L IRS990ScheduleL
Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp (10 entries)
| Relationship With OrgRelationshipWithOrgTxt | Loan PurposeLoanPurposeTxt | Loan From OrganizationLoanFromOrganizationInd | Original PrincipalOriginalPrincipalAmt | Balance DueBalanceDueAmt | DefaultDefaultInd | Board Or Committee ApprovalBoardOrCommitteeApprovalInd | Written AgreementWrittenAgreementInd |
|---|---|---|---|---|---|---|---|
| STEELE HENDRIX | |||||||
| OFFICER | COLLATERAL ASSIGNED SPLIT-DOLLAR LIFE INSURANCE POLICY | Yes (X) | $4,200,000 | $4,231,764 | 0 | Yes (1) | Yes (1) |
| STEELE HENDRIX | |||||||
| OFFICER | VEHICLE | Yes (X) | $43,030 | $35,503 | 0 | Yes (1) | Yes (1) |
| STEELE HENDRIX | |||||||
| OFFICER | VEHICLE | Yes (X) | $20,000 | $18,006 | 0 | Yes (1) | Yes (1) |
| KYLE JOHNSON | |||||||
| KEY EMPLOYEE | SIGNATURE LOAN | Yes (X) | $6,000 | $5,868 | 0 | Yes (1) | Yes (1) |
| KYLE JOHNSON | |||||||
| KEY EMPLOYEE | SHARE SECURED LOAN | Yes (X) | $65,000 | $60,108 | 0 | Yes (1) | Yes (1) |
| KYLE JOHNSON | |||||||
| KEY EMPLOYEE | 2ND TD HELOC | Yes (X) | $185,000 | $184,979 | 0 | Yes (1) | Yes (1) |
| KYLE JOHNSON | |||||||
| KEY EMPLOYEE | 1ST TD RESIDENTIAL | Yes (X) | $395,000 | $381,791 | 0 | Yes (1) | Yes (1) |
| JARON SINGLETON | |||||||
| OFFICER | VEHICLE LOAN | Yes (X) | $70,750 | $40,450 | 0 | Yes (1) | Yes (1) |
| JARON SINGLETON | |||||||
| OFFICER | SHARE SECURED LOAN | Yes (X) | $6,800 | $5,500 | 0 | Yes (1) | Yes (1) |
| JARON SINGLETON | |||||||
| OFFICER | 1ST TD RESIDENTIAL | Yes (X) | $567,000 | $455,126 | 0 | Yes (1) | Yes (1) |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | $5,419,095 | TotalBalanceDueAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | FORM 990, PART II, LOANS TO INTERESTED PERSONS: | FormAndLineReferenceDesc |
| Explanation | BOULDER DAM CREDIT UNION (THE CREDIT UNION) HAS ENTERED INTO A COLLATERAL SPLIT-DOLLAR LIFE INSURANCE AGREEMENT FOR ONE OFFICER. THE CREDIT UNION PROVIDED A LOAN TO THE OFFICER TO FUND THE PURCHASE OF A LIFE INSURANCE POLICY, WHICH IS OWNED AND CONTROLLED BY THE OFFICER. BY WAY OF THE COLLATERAL ASSIGNMENT AND SIDE ACCOUNT ASSIGNMENT FROM THE OFFICER TO THE CREDIT UNION, THE LOAN BEARS AN INTEREST RATE OF 3.43%, REFLECTING THE APPLICABLE FEDERAL RATE AT THE TIME THE LOAN WAS MADE. THE LOAN IS COLLATERALIZED BY THE LIFE INSURANCE POLICY AND IS NON-RECOURSE. THE OFFICER AND THE OFFICER'S ESTATE AND BENEFICIARIES ARE NOT PERSONALLY OBLIGATED TO PAY THE OUTSTANDING BALANCE. THE NEWER LOAN, WHICH WAS MADE IN OCTOBER 2022 IS COLLATERALIZED BY THE POLICY, PREMIUM DEPOSIT ACCOUNT, AND SIDE ACCOUNT.THE DEATH BENEFIT OF THE LIFE INSURANCE POLICY IS INTENDED TO BE THE PRIMARY SOURCE OF LOAN REPAYMENT, WITH THE PROCEEDS UPON DEATH TO BE ALLOCATED FIRST TO THE OUTSTANDING BALANCE OF THE LOAN TO THE CREDIT UNION, SECONDLY TO THE OFFICER'S ESTATE FOR THE AMOUNT (IF ANY) OF THE VESTED PERCENTAGE EXCEEDING THE AMOUNTS BORROWED, AND THIRDLY (IF ANY) TO BE DIVIDED EQUALLY BETWEEN THE CREDIT UNION AND THE OFFICER'S ESTATE. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (9 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 4 | BOULDER DAM CREDIT UNION UPDATED ITS BYLAWS TO FURTHER SPECIFY THE AUTHORITY AND DUTIES OF THE GOVERNING BODY'S VOTING MEMBERS. |
| FORM 990, PART VI, SECTION A, LINE 6 | BOULDER DAM CREDIT UNION HAS MEMBERS AS SPECIFIED IN ITS BYLAWS. |
| FORM 990, PART VI, SECTION A, LINE 7A | BOULDER DAM CREDIT UNION MEMBERS HAVE THE POWER TO ELECT THE MEMBERS OF THE GOVERNING BODY. |
| FORM 990, PART VI, SECTION A, LINE 7B | BOULDER DAM CREDIT UNION MEMBERS HAVE THE POWER TO ELECT OR REMOVE THE MEMBERS OF THE GOVERNING BODY. |
| FORM 990, PART VI, SECTION A, LINE 8B | BOULDER DAM CREDIT UNION DOES NOT HAVE ANY COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE FORM 990 IS REVIEWED BY THE CHIEF EXECUTIVE OFFICER/PRESIDENT AND IS APPROVED BY THE BOARD OF DIRECTORS PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. |
| FORM 990, PART VI, SECTION B, LINE 15A | THE CHIEF EXECUTIVE OFFICER'S COMPENSATION IS ESTABLISHED AND APPROVED BY THE ENTIRE BOARD OF DIRECTORS. THE BOARD OF DIRECTORS REVIEWS COMPENSATION DATA FROM INDUSTRY SURVEYS LIKE THE CUNA STAFF SALARY REPORT OR THE NAFCU GALLAGHER EXECUTIVE COMPENSATION AND BENEFITS SURVEY. THIS COMPENSATION DISCUSSION IS CONTEMPORANEOUSLY DOCUMENTED IN THE BOARD MEETING'S MINUTES. EXECUTIVE COMPENSATION AND BENEFIT REVIEWS TAKES PLACE ANNUALLY AND WAS LAST COMPLETED IN JANUARY 2025. |
| FORM 990, PART VI, SECTION C, LINE 19 | BOULDER DAM CREDIT UNION MAKES ITS GOVERNING DOCUMENTS AND AUDITED FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST IN THE SAME TIME AND MANNER AS OTHER DISCLOSURES REQUIRED UNDER INTERNAL REVENUE CODE SECTION 6104(D). BOULDER DAM CREDIT UNION DOES NOT HAVE A FORMAL CONFLICT OF INTEREST POLICY. |
| FORM 990, PART XI, LINE 2C: | BOULDER DAM CREDIT UNION'S OVERSIGHT AND SELECTION PROCESS HAS NOT CHANGED FROM THE PREVIOUS TAX YEAR. |