HUDSON VALLEY FEDERAL CREDIT UNION: Form 990, tax year 2024
View the entire original 990 at ProPublica ↗
- Organization
- HUDSON VALLEY FEDERAL CREDIT UNION (EIN 14-1471439)
- Tax period
- 2024-01-01 to 2024-12-31
- Filed
- 2025-11-13
- IRS object ID
- 202523179349303372
- 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 | 2025-11-13T10:12:54-06:00 | ReturnTs |
| Tax Period End | 2024-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 410746749 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CLIFTONLARSONALLEN LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 109 N MAIN STREET SUITE 200 | AddressLine1Txt |
| City | AUSTIN | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 55912 | 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 | 141471439 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | HUDSON VALLEY CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | HUDS | BusinessNameControlTxt |
| Phone | 8004683011 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 137 BOARDMAN ROAD | AddressLine1Txt |
| City | POUGHKEEPSIE | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 12603 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | SCOTT VAN ZANDT | PersonNm |
| Person Title | EVP/CHIEF FINANCIAL OFFICER | PersonTitleTxt |
| Phone | 8454633011 | PhoneNum |
| Signature | 2025-10-15 | 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 | TANYA MEDGAARDEN | PreparerPersonNm |
| PTIN | P01717240 | PTIN |
| Phone | 5074347000 | 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 | SCOTT VAN ZANDT | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 137 BOARDMAN ROAD | AddressLine1Txt |
| City | POUGHKEEPSIE | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 12603 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $424,748,800 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.HVFCU.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1963 | FormationYr |
| Legal Domicile State | NY | LegalDomicileStateCd |
| Activity Or Mission | STATE CHARTERED CU THAT PROVIDES FINANCIAL, INSURANCE AND BANKING SERVICES TO ITS MEMBERS. | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 9 | VotingMembersIndependentCnt |
| Total Employee | 1195 | TotalEmployeeCnt |
| Total Volunteers | 20 | TotalVolunteersCnt |
| Total Gross UBI | $1,149,098 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $267,908,667 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $325,489,261 | CYProgramServiceRevenueAmt |
| PY Investment Income | $46,762,290 | PYInvestmentIncomeAmt |
| CY Investment Income | $98,611,173 | CYInvestmentIncomeAmt |
| PY Other Revenue | -$9,987 | PYOtherRevenueAmt |
| CY Other Revenue | $1,756 | CYOtherRevenueAmt |
| PY Total Revenue | $314,660,970 | PYTotalRevenueAmt |
| CY Total Revenue | $424,102,190 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $93,310,522 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $142,173,195 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $92,525,766 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $109,072,739 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $126,031,853 | PYOtherExpensesAmt |
| CY Other Expenses | $150,773,360 | CYOtherExpensesAmt |
| PY Total Expenses | $311,868,141 | PYTotalExpensesAmt |
| CY Total Expenses | $402,019,294 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $2,792,829 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $22,082,896 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $7,062,798,226 | TotalAssetsBOYAmt |
| Total Assets EOY | $7,450,776,209 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $6,630,386,858 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $7,017,779,789 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $432,411,368 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $432,996,420 | NetAssetsOrFundBalancesEOYAmt |
| Mission | TO PARTNER IN BUILDING SUCCESSFUL FUTURES FOR INDIVIDUAL MEMBERS, EMPLOYEES, AND OUR ENTIRE COMMUNITY. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | HVCU PROVIDES CONSUMER AND BUSINESS DEPOSIT AND LOAN PRODUCTS, A VARIETY OF PERSONAL AND BUSINESS INSURANCE PRODUCTS AND WEALTH MANAGEMENT SERVICES. | Desc |
| 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 | Yes (1) | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | 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 | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | 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 | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (1) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | 0 | TransactionWithControlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 75269 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 1195 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | Yes (1) | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 9 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 9 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 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 | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | Yes (1) | LocalChaptersInd |
| Policies Reference Chapters | Yes (1) | PoliciesReferenceChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SCOTT VAN ZANDT | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 8004683011 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 137 BOARDMAN ROAD | AddressLine1Txt |
| City | POUGHKEEPSIE | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 12603 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (26 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|
| JAY PANTALEO | |||||||
| CHAIRMAN OF THE BOARD | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| KEITH BASKETT | |||||||
| VICE CHAIRMAN | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| NANCY KAPPLER-FOSTER | |||||||
| DIRECTOR EMERITUS | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| BENJAMIN SMITH | |||||||
| SECRETARY | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| HENRIETTA AKPATA | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| JANINE S DAUGHTRY | |||||||
| TREASURER | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| NANCY K BOEHM | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| KAREN MCFARLANE | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| ALISA SWIRE | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| WESLEY J LEE | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| JUHI SAHA | |||||||
| ASSOCIATE BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| JONATHAN ROBERTS | |||||||
| PRESIDENT CHIEF EXECUTIVE | 40.00 | Yes (X) | $1,971,939 | $0 | $1,881,622 | ||
| DIANE ALLENBAUGH | |||||||
| FORMER EVP/CPO | 40.00 | Yes (X) | $1,176,390 | $0 | $10,246 | ||
| ANTON ROHRMEIER | |||||||
| FORMER EVP/COO | 40.00 | Yes (X) | $532,141 | $0 | $20,239 | ||
| SCOTT VAN ZANDT | |||||||
| EVP/CHIEF FINANCIAL OFFICER | 40.00 | Yes (X) | $799,948 | $0 | $427,348 | ||
| MARK TIMMERMAN | |||||||
| EVP/CRO | 40.00 | Yes (X) | $666,004 | $0 | $606,817 | ||
| RICHARD LIONHOOD | |||||||
| EVP/CBO | 40.00 | Yes (X) | $737,394 | $0 | $458,372 | ||
| CHRISTOPHER KIEFFER | |||||||
| EVP/CSO | 40.00 | Yes (X) | $461,340 | $0 | $190,010 | ||
| JOHN FEDE | |||||||
| EVP/CIO | 40.00 | Yes (X) | $517,300 | $0 | $249,390 | ||
| DESIREE WOLFE | |||||||
| EVP/CXO | 40.00 | Yes (X) | $423,104 | $0 | $77,333 | ||
| AMY JAKOBEIT | |||||||
| EVP/CMO | 40.00 | Yes (X) | $448,962 | $0 | $142,463 | ||
| GREGORY ANTONAKOS | |||||||
| FINANCIAL CONSULTANT II | 40.00 | $448,551 | $0 | $78,043 | Yes (X) | ||
| MATTHEW GIORGI | |||||||
| FINANCIAL CONSULTANT II | 40.00 | $507,622 | $0 | $78,694 | Yes (X) | ||
| CHRISTOPHER CANTELE | |||||||
| AVP WEALTH MANAGEMENT | 40.00 | $442,899 | $0 | $81,243 | Yes (X) | ||
| LYNDA BEISNER | |||||||
| FINANCIAL CONSULTANT II | 40.00 | $468,699 | $0 | $38,541 | Yes (X) | ||
| TROY DEL VALLE | |||||||
| VP/DATA PLATFORM ARCHITECT | 40.00 | $341,306 | $0 | $85,802 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $9,943,599 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $4,426,163 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 198 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| CULA | |||||
| 9665 GRANITE RIDGE DR SUITE 400 | SAN DIEGO | CA | 92123 | VEHICLE LEASING SERVICING FEE | $5,753,469 |
| ALKAMI TECHNOLOGY INC | |||||
| PO BOX 122223 DEPT 2223 | DALLAS | TX | 75312 | INTERNET BANKING | $3,714,665 |
| TERACAI INC | |||||
| DEPT 116004 PO BOX 5211 | BINGHAMTON | NY | 13902 | IT SOLUTIONS PROVIDER | $2,851,346 |
| LOONEY ADVERTISING & BRANDING | |||||
| 7 NORTH MOUNTAIN AVE | MONTCLAIR | NJ | 07042 | ADVERTISING | $1,939,515 |
| RELIASTAR LIFE INSURANCE COMPANY OF NY | |||||
| 4691 PAYSPHERE CIRCLE | CHICAGO | IL | 60674 | INSURANCE | $1,893,988 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 157 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (5 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| INCOME FROM LOANS | 522100 | $260,006,371 | $260,006,371 | |
| SERVICE FEES AND OTHER FEES | 522100 | $50,926,595 | $50,926,595 | |
| OTHER INCOME | 522100 | $13,407,197 | $13,407,197 | |
| INSURANCE SERVICES | 522100 | $873,925 | $873,925 | |
| NON-MEMBER ATM FEES | 522100 | $275,173 | $275,173 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $325,489,261 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $97,177,476 | TotalRevenueColumnAmt |
| Exclusion | $97,177,476 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $319,668 | RealAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $317,912 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $1,756 | RealAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,756 | TotalRevenueColumnAmt |
| Exclusion | $1,756 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $49,925 | SecuritiesAmt |
| Other | $1,712,470 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $328,698 | SecuritiesAmt |
| Other | $0 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | -$278,773 | SecuritiesAmt |
| Other | $1,712,470 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,433,697 | TotalRevenueColumnAmt |
| Exclusion | $1,433,697 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $424,102,190 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $324,340,163 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $1,149,098 | UnrelatedBusinessRevenueAmt |
| Exclusion | $98,612,929 | ExclusionAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $142,173,195 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $11,798,362 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $75,328,087 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,373,661 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $11,411,827 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,160,802 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $677,951 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $360,000 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,062,221 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $8,050,061 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $51,856,839 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,539,438 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $341,675 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $466,236 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $17,321,517 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,526,014 | TotalAmt |
Other Expenses OtherExpensesGrp (2 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| OTHER ADMINISTRATIVE | $30,560,736 |
| PROVISION FOR CREDIT LO | $25,010,672 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $402,019,294 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $772,823,073 | BOYAmt |
| EOY | $663,900,595 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $8,345,000 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $22,405,638 | BOYAmt |
| EOY | $17,503,791 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $19,052,496 | BOYAmt |
| EOY | $58,387,500 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,230,506,939 | BOYAmt |
| EOY | $4,365,311,394 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $8,057,868 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $157,324,032 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $71,060,121 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $83,778,566 | BOYAmt |
| EOY | $86,263,911 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,821,128,681 | BOYAmt |
| EOY | $2,068,966,980 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $45,112,125 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $113,102,833 | BOYAmt |
| EOY | $128,927,045 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,062,798,226 | BOYAmt |
| EOY | $7,450,776,209 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $64,958,490 | BOYAmt |
| EOY | $60,326,578 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $16,237,140 | BOYAmt |
| EOY | $15,988,711 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,549,191,228 | BOYAmt |
| EOY | $6,941,464,500 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,630,386,858 | BOYAmt |
| EOY | $7,017,779,789 | 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 | $432,411,368 | BOYAmt |
| EOY | $432,996,420 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $432,411,368 | BOYAmt |
| EOY | $432,996,420 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,062,798,226 | BOYAmt |
| EOY | $7,450,776,209 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $22,082,896 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$20,667,997 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | -$829,847 | 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) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| 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 | $0 | PoliticalExpendituresAmt |
| Volunteer Hours | 0 | VolunteerHoursCnt |
| Section4955 Organization Tax | $0 | Section4955OrganizationTaxAmt |
| Section4955 Managers Tax | $0 | Section4955ManagersTaxAmt |
Section527 Political Org Section527PoliticalOrgGrp
Organization Business Name OrganizationBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FOCUS NY CREDIT UNION POLITICAL ACTION COMMITTEE | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 15118 | AddressLine1Txt |
| City | ALBANY | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 122125118 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 141728119 | EIN |
| Paid Internal Funds | $5,000 | PaidInternalFundsAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I-A, LINE 1: | FormAndLineReferenceDesc |
| Explanation | ALL POLITICAL CONTRIBUTIONS WERE MADE TO THE FOCUS NY CREDIT UNION POLITICAL ACTION COMMITTEE AND TOTALED $5,000. | ExplanationTxt |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | 0 | AgentTrusteeEtcInd |
| Incl Escrow Custodial Acct Liab | Yes (1) | InclEscrowCustodialAcctLiabInd |
| Explanation Provided | Yes (X) | ExplanationProvidedInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $25,702,553 | OtherCostOrOtherBasisAmt |
| Book Value | $25,702,553 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $65,743,925 | OtherCostOrOtherBasisAmt |
| Depreciation | $25,558,368 | DepreciationAmt |
| Book Value | $40,185,557 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $13,087,178 | OtherCostOrOtherBasisAmt |
| Depreciation | $4,216,998 | DepreciationAmt |
| Book Value | $8,870,180 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $52,603,486 | OtherCostOrOtherBasisAmt |
| Depreciation | $41,176,662 | DepreciationAmt |
| Book Value | $11,426,824 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $186,890 | OtherCostOrOtherBasisAmt |
| Depreciation | $108,093 | DepreciationAmt |
| Book Value | $78,797 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $86,263,911 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)
| DescDesc | AmtAmt |
|---|---|
| MEMBER SHARES | $6,541,464,500 |
| BORROWING | $400,000,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $6,941,464,500 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART IV, LINE 2B: | THE ORGANIZATION HOLDS FUNDS FOR MEMBERS IN ESCROW ACCOUNTS RELATED TO MORTGAGE LOANS. |
| PART X, LINE 2: | THE CREDIT UNION IS EXEMPT, UNDER IRC 501 (C) (14), FROM FEDERAL AND STATE INCOME TAXES. THE TAXING AUTHORITIES HAVE THE ABILITY TO ASSESS TAXES, PENALTIES AND INTEREST FOR ANY YEARS FOR WHICH NO TAX RETURN WAS FILED. IN THE OPINION OF MANAGEMENT, ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING INCOME TAXES ON THE NET TAXABLE INCOME FROM ACTIVITIES POTENTIALLY DEEMED TO BE UNRELATED TO THE CREDIT UNION'S EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF DECEMBER 31, 2024 AND 2023. THE CREDIT UNION'S WHOLLY OWNED SUBSIDIARY, CUSERVE INC., IS SUBJECT TO FEDERAL AND STATE INCOME TAXES. THE CREDIT UNION'S 2021 THROUGH 2023 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | Yes (X) | TravelForCompanionsInd |
| Idemnification Gross Up Pmts | Yes (X) | IdemnificationGrossUpPmtsInd |
| Club Dues Or Fees | Yes (X) | ClubDuesOrFeesInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | Yes (1) | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (1) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (15 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| JONATHAN ROBERTS | ||||||||||||||
| PRESIDENT CHIEF EXECUTIVE | $950,882 | $0 | $495,125 | $0 | $525,932 | $0 | $1,824,238 | $0 | $57,384 | $0 | $3,853,561 | $0 | $0 | $0 |
| MARK TIMMERMAN | ||||||||||||||
| EVP/CRO | $364,570 | $0 | $127,944 | $0 | $173,490 | $0 | $546,365 | $0 | $60,452 | $0 | $1,272,821 | $0 | $0 | $0 |
| SCOTT VAN ZANDT | ||||||||||||||
| EVP/CHIEF FINANCIAL OFFICER | $457,485 | $0 | $190,531 | $0 | $151,932 | $0 | $367,265 | $0 | $60,083 | $0 | $1,227,296 | $0 | $0 | $0 |
| RICHARD LIONHOOD | ||||||||||||||
| EVP/CBO | $528,446 | $0 | $145,688 | $0 | $63,260 | $0 | $398,365 | $0 | $60,007 | $0 | $1,195,766 | $0 | $0 | $0 |
| DIANE ALLENBAUGH | ||||||||||||||
| FORMER EVP/CPO | $584,320 | $0 | $162,435 | $0 | $429,635 | $0 | $8,017 | $0 | $2,229 | $0 | $1,186,636 | $0 | $0 | $0 |
| JOHN FEDE | ||||||||||||||
| EVP/CIO | $405,263 | $0 | $101,063 | $0 | $10,974 | $0 | $189,307 | $0 | $60,083 | $0 | $766,690 | $0 | $0 | $0 |
| CHRISTOPHER KIEFFER | ||||||||||||||
| EVP/CSO | $360,477 | $0 | $99,033 | $0 | $1,830 | $0 | $169,944 | $0 | $20,066 | $0 | $651,350 | $0 | $0 | $0 |
| AMY JAKOBEIT | ||||||||||||||
| EVP/CMO | $345,414 | $0 | $102,000 | $0 | $1,548 | $0 | $90,002 | $0 | $52,461 | $0 | $591,425 | $0 | $0 | $0 |
| MATTHEW GIORGI | ||||||||||||||
| FINANCIAL CONSULTANT II | $35,450 | $0 | $471,680 | $0 | $492 | $0 | $21,677 | $0 | $57,017 | $0 | $586,316 | $0 | $0 | $0 |
| ANTON ROHRMEIER | ||||||||||||||
| FORMER EVP/COO | $21,343 | $0 | $214,760 | $0 | $296,038 | $0 | $16,558 | $0 | $3,681 | $0 | $552,380 | $0 | $0 | $0 |
| GREGORY ANTONAKOS | ||||||||||||||
| FINANCIAL CONSULTANT II | $38,574 | $0 | $409,643 | $0 | $334 | $0 | $24,150 | $0 | $53,893 | $0 | $526,594 | $0 | $0 | $0 |
| CHRISTOPHER CANTELE | ||||||||||||||
| AVP WEALTH MANAGEMENT | $108,156 | $0 | $333,530 | $0 | $1,213 | $0 | $24,150 | $0 | $57,093 | $0 | $524,142 | $0 | $0 | $0 |
| LYNDA BEISNER | ||||||||||||||
| FINANCIAL CONSULTANT II | $46,538 | $0 | $420,000 | $0 | $2,161 | $0 | $21,098 | $0 | $17,443 | $0 | $507,240 | $0 | $0 | $0 |
| DESIREE WOLFE | ||||||||||||||
| EVP/CXO | $353,696 | $0 | $67,591 | $0 | $1,817 | $0 | $17,250 | $0 | $60,083 | $0 | $500,437 | $0 | $0 | $0 |
| TROY DEL VALLE | ||||||||||||||
| VP/DATA PLATFORM ARCHITECT | $258,356 | $0 | $82,071 | $0 | $879 | $0 | $20,159 | $0 | $65,643 | $0 | $427,108 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (4 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART I, LINE 1A | ANGELA ROBERTS - TRAVEL FOR COMPANION - $5,538 DESIREE WOLFE - GROSS-UP PAYMENT - $7 CHRISTOPHER KIEFFER - HEALTH/SOCIAL CLUB DUES - $935 |
| PART I, LINE 1B | BOARD MEMBERS ARE NOT COMPENSATED, THEREFORE A 1099 IS ISSUED AS APPLICABLE. |
| PART I, LINE 3 | THE COMPENSATION AND BENEFITS COMMITTEE PRESENTS A RECOMMENDATION TO THE BOARD BASED ON CEO PERFORMANCE AND MARKET DATA PROVIDED BY AN INDEPENDENT EXECUTIVE COMPENSATION CONSULTANT. DOCUMENTATION IS CONTAINED ON THE BOARD PORTAL. DELIBERATION AND DECISION IS MEMORIALIZED IN THE COMPENSATION & BENEFITS COMMITTEE MEETING MINUTES AS WELL AS THROUGH A BOARD RESOLUTION MEMORIALIZED IN THE BOARD MEETING MINUTES. |
| PART I, LINES 4A-B | DIANE ALLENBAUGH - SEVERANCE PAYMENT - $397,348 DIANE ALLENBAUGH - 457F DISTRIBUTION - $566,962 MARK TIMMERMAN - 457F DISTRIBUTION - $170,000 JONATHAN ROBERTS - 457F DISTRIBUTION - $500,000 SCOTT VANZANDT - 457F DISTRIBUTION - $150,000 RICHARD LIONHOOD - 457F DISTRIBUTION - $50,000 ANTON ROHRMEIER - 457F DISTRIBUTION - $250,000 |
Schedule L IRS990ScheduleL
Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp (9 entries)
| Relationship With OrgRelationshipWithOrgTxt | Loan PurposeLoanPurposeTxt | Loan From OrganizationLoanFromOrganizationInd | Original PrincipalOriginalPrincipalAmt | Balance DueBalanceDueAmt | DefaultDefaultInd | Board Or Committee ApprovalBoardOrCommitteeApprovalInd | Written AgreementWrittenAgreementInd |
|---|---|---|---|---|---|---|---|
| MARY D MADDEN | |||||||
| FORMER CHIEF EXECUTIVE OFFICER | FUNDING CASH VALUE LIFE INSURANCE POLICY | Yes (X) | $8,007,424 | $10,015,590 | 0 | Yes (1) | Yes (1) |
| ANTON ROHRMEIER | |||||||
| FORMER CHIEF OPERATING OFFICER | FUNDING CASH VALUE LIFE INSURANCE POLICY | Yes (X) | $1,950,000 | $2,439,037 | 0 | Yes (1) | Yes (1) |
| SCOTT VAN ZANDT | |||||||
| CHIEF FINANCIAL OFFICER | FUNDING CASH VALUE LIFE INSURANCE POLICY | Yes (X) | $5,200,000 | $5,866,358 | 0 | Yes (1) | Yes (1) |
| MARK TIMMERMAN | |||||||
| CHIEF RELATIONSHIP OFFICER | FUNDING CASH VALUE LIFE INSURANCE POLICY | Yes (X) | $10,900,000 | $10,418,714 | 0 | Yes (1) | Yes (1) |
| RICHARD LIONHOOD | |||||||
| CHIEF BANKING OFFICER | FUNDING CASH VALUE LIFE INSURANCE POLICY | Yes (X) | $6,500,000 | $6,311,979 | 0 | Yes (1) | Yes (1) |
| JOHN FEDE | |||||||
| CHIEF INFORMATION OFFICER | FUNDING CASH VALUE LIFE INSURANCE POLICY | Yes (X) | $5,500,000 | $5,340,905 | 0 | Yes (1) | Yes (1) |
| AMY JACKOBEIT | |||||||
| CHIEF OF MEMBER OPERATIONS | FUNDING CASH VALUE LIFE INSURANCE POLICY | Yes (X) | $4,000,000 | $3,778,912 | 0 | Yes (1) | Yes (1) |
| CHRISTOPHER KIEFFER | |||||||
| CHIEF STRATEGY OFFICER | FUNDING CASH VALUE LIFE INSURANCE POLICY | Yes (X) | $8,000,000 | $7,697,382 | 0 | Yes (1) | Yes (1) |
| JOHANNA ROBBINS | |||||||
| CHIEF FINANCIAL OFFICER | FUNDING CASH VALUE LIFE INSURANCE POLICY | Yes (X) | $6,900,000 | $6,518,623 | 0 | Yes (1) | Yes (1) |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | $58,387,500 | TotalBalanceDueAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE L, PART II | FormAndLineReferenceDesc |
| Explanation | SPLIT DOLLAR LOANS ARE RECORDED ON THE FINANCIAL STATEMENTS AT A DIFFERENT VALUE. THE LOAN + ACCRUED INTEREST VALUE FOR EACH LOAN ARE: MARY MADDEN: $10,674,166ANTON ROHRMEIER: $2,599,416SCOTT VAN ZANDT: $6,252,101MARK TIMMERMAN: $11,103,798RICHARD LIONHOOD: $6,727,024JOHN FEDE: $5,692,097AMY JACKOBEIT: $4,027,395CHRISTOPHER KIEFFER: $8,203,524JOHANNA ROBBINS: $6,947,256 | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (10 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 4 | A PRIVATE, NON-OPERATING TYPE OF CHARITABLE FOUNDATION WAS FORMED IN 2024 NAMED THE HVCU CHARITABLE FOUNDATION. |
| FORM 990, PART VI, SECTION A, LINE 6 | THOSE WHO LIVE, WORK, WORSHIP OR ATTEND SCHOOL IN A 12-COUNTY AREA IN NEW YORK STATE. |
| FORM 990, PART VI, SECTION A, LINE 7A | MEMBERS IN GOOD STANDING ARE PERMITTED TO VOTE FOR BOARD MEMBERS DURING GENERAL ELECTION. BOARD CANDIDATES ARE DETERMINED BY THE NOMINATING COMMITTEE. |
| FORM 990, PART VI, SECTION A, LINE 7B | CERTAIN MERGERS ARE SUBJECT TO APPROVAL BY MEMBERS. |
| FORM 990, PART VI, SECTION B, LINE 11B | MANAGEMENT REVIEW AND PREPARATION BY INDEPENDENT AUTHORITY. |
| FORM 990, PART VI, SECTION B, LINE 12C | ALL HVCU EMPLOYEES, INCLUDING OFFICERS AND KEY EMPLOYEES, ARE REQUIRED TO SIGN AN ANNUAL ACKNOWLEDGEMENT OF POLICIES WHICH INCLUDES THE CONFLICT OF INTEREST POLICY. THE PRESIDENT/CEO WILL BE ADVISED OF ANY AND ALL SUCH CONFLICTS OF INTEREST REGARDING THE STAFF AND, AS APPROPRIATE, INFORM THE BOARD OF DIRECTORS OF ANY SIGNIFICANT SITUATIONS. ANY DOUBT OR QUESTION CONCERNING A POSSIBILITY OF POTENTIAL CONFLICT OF INTEREST MUST ALSO BE REPORTED. FURTHERMORE, ANY EMPLOYEE OR OFFICER WHO IS AWARE OF ANOTHER'S ACTUAL OR POTENTIAL CONFLICT OF INTEREST IS REQUIRED TO IMMEDIATELY REPORT SUCH BELIEF, IN WRITING, TO THE APPROPRIATE AUTHORITY. IT MAY BE DETERMINED THAT NO ACTION IS NECESSARY, OR THE INDIVIDUAL WITH THE CONFLICT MAY BE REQUIRED TO RESOLVE THE CONFLICT IN A PRESCRIBED MANNER. IF THE CONFLICT CANNOT BE RESOLVED; IF THE INDIVIDUAL WITH THE CONFLICT CHOOSES NOT TO ABIDE BY THE PRESCRIBED COURSE OF ACTION; OR IF THERE HAS BEEN BAD FAITH ON THE PART OF THE INDIVIDUAL WITH THE CONFLICT, THE APPROPRIATE AUTHORITY MAY IMMEDIATELY TERMINATE THE INDIVIDUAL WITH THE CONFLICT. PERCEIVED OR ACTUAL CONFLICTS OF INTEREST BY THE PRESIDENT/CEO ARE REPORTED AND RESOLVED BY THE BOARD. BOARD MEMBERS AND OTHER VOLUNTEERS ARE REQUIRED TO ANNUALLY SIGN A VOLUNTEER PERFORMANCE POLICY THAT OUTLINES THE FIDUCIARY RESPONSIBILITIES OF ALL VOLUNTEERS AND OUTLINES THAT ALL ACTIVITIES PERFORMED ON BEHALF OF THE CREDIT UNION WILL BE CONDUCTED ACCORDING TO THE HIGHEST LEVEL OF ETHICS AND INTEGRITY. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE COMPENSATION AND BENEFITS COMMITTEE PRESENTS A RECOMMENDATION TO THE BOARD BASED ON CEO PERFORMANCE AND MARKET DATA PROVIDED BY AN INDEPENDENT EXECUTIVE COMPENSATION CONSULTANT. DOCUMENTATION IS CONTAINED ON THE BOARD PORTAL. DELIBERATION AND DECISION MAKING IS MEMORIALIZED IN THE COMPENSATION & BENEFITS COMMITTEE MEETING MINUTES AS WELL AS THROUGH A BOARD RESOLUTION MEMORIALIZED IN THE BOARD MEETING MINUTES. THE CEO AND COMPENSATION AND BENEFITS COMMITTEE ARE PROVIDED MARKET DATA BY AN INDEPENDENT EXECUTIVE COMPENSATION CONSULTANT. BASED ON PERFORMANCE AND MARKET DATA, THE CEO PRESENTS HIS RECOMMENDATIONS TO THE COMPENSATION AND BENEFITS COMMITTEE. THE COMMITTEE'S ROLE IS TO PROVIDE OVERSIGHT. DOCUMENTATION IS CONTAINED ON THE BOARD PORTAL AND DELIBERATION IS MEMORIALIZED IN THE COMPENSATION & BENEFITS COMMITTEE MEETING MINUTES. COMMITTEE MINUTES ARE CONTAINED IN THE BOARD PACKAGE. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2023. |
| FORM 990, PART VI, SECTION C, LINE 19 | FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC IN EACH BRANCH AND ONLINE. |
| FORM 990, PART XI, LINE 9: | BENEFIT PLANS -290,408. CUSO EQUITY -539,439. |
| FORM 990, PART XII, LINE 2C: | THE PROCESS HAS NOT CHANGED. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | HVCU CHARITABLE FOUNDATION | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 137 BOARDMAN RD | AddressLine1Txt |
| City | POUGHKEEPSIE | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 12603 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 993361589 | EIN |
| Primary Activities | COMMUNITY SUPPORT | PrimaryActivitiesTxt |
| Legal Domicile State | NY | LegalDomicileStateCd |
| Exempt Code Section | 501(C)3 | ExemptCodeSectionTxt |
| Public Charity Status | LINE 7 | PublicCharityStatusTxt |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | HUDSON VALLEY CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Controlled Organization | 0 | ControlledOrganizationInd |
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp
Related Organization Name RelatedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CUSERVE INC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 137 BOARDMAN RD | AddressLine1Txt |
| City | POUGHKEEPSIE | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 12603 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 141756210 | EIN |
| Primary Activities | NOT CURRENTLY OPERATIONAL | PrimaryActivitiesTxt |
| Legal Domicile State | NY | LegalDomicileStateCd |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | HUDSON VALLEY CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Entity Type | C | EntityTypeTxt |
| Share Of Total Income | -$7,418 | ShareOfTotalIncomeAmt |
| Share Of EOY Assets | $589,446 | ShareOfEOYAssetsAmt |
| Ownership | 1.00000 | OwnershipPct |
| Controlled Organization | Yes (1) | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | 0 | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |