BEACON CREDIT UNION: Form 990, tax year 2024
View the entire original 990 at ProPublica ↗
- Organization
- BEACON CREDIT UNION (EIN 35-6025844)
- Tax period
- 2024-01-01 to 2024-12-31
- Filed
- 2025-11-17
- IRS object ID
- 202513219349312931
- Schema version
- 2024v5.1
- 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 | 2025-11-17T14:11:26+00:00 | ReturnTs |
| Tax Period End | 2024-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 440160260 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Forvis Mazars LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 820 Massachusetts Ave Suite 1370 | AddressLine1Txt |
| City | Indianapolis | CityNm |
| State Abbreviation | IN | StateAbbreviationCd |
| ZIP | 46204 | 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 | 356025844 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Beacon Credit Union | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | BEAC | BusinessNameControlTxt |
| Phone | 2605637443 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 586 S Wabash St | AddressLine1Txt |
| City | Wabash | CityNm |
| State Abbreviation | IN | StateAbbreviationCd |
| ZIP | 46992 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | STEVEN H CARYER | PersonNm |
| Person Title | CHIEF FINANCIAL OFFICER | PersonTitleTxt |
| Phone | 2605637443 | PhoneNum |
| Signature | 2025-11-17 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (true) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | Michael Summers | PreparerPersonNm |
| PTIN | P00838533 | PTIN |
| Phone | 3173834000 | PhoneNum |
| Preparation | 2025-11-17 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2024 | TaxYr |
| Build TS | 2025-03-06 01:10:19Z | BuildTS |
Form 990 IRS990
Principal Ofcr Business Name PrincipalOfcrBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Dustin Cuttriss | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 586 S Wabash St | AddressLine1Txt |
| City | Wabash | CityNm |
| State Abbreviation | IN | StateAbbreviationCd |
| ZIP | 46992 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $71,433,277 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | beaconcu.org | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1931 | FormationYr |
| Legal Domicile State | IN | LegalDomicileStateCd |
| Activity Or Mission | This organization is a credit union exempt under IRS Code 501(c) (14) (A). It is a Cooperative Financial Institution | ActivityOrMissionDesc |
| Voting Members Governing Body | 7 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 7 | VotingMembersIndependentCnt |
| Total Employee | 353 | TotalEmployeeCnt |
| Total Volunteers | 10 | TotalVolunteersCnt |
| Total Gross UBI | $326,829 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $24,836 | NetUnrelatedBusTxblIncmAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $48,734,269 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $57,797,240 | CYProgramServiceRevenueAmt |
| PY Investment Income | $12,921,555 | PYInvestmentIncomeAmt |
| CY Investment Income | $12,576,930 | CYInvestmentIncomeAmt |
| PY Other Revenue | $634,269 | PYOtherRevenueAmt |
| CY Other Revenue | $623,139 | CYOtherRevenueAmt |
| PY Total Revenue | $62,290,093 | PYTotalRevenueAmt |
| CY Total Revenue | $70,997,309 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $28,646 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $22,513,445 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $23,438,430 | CYSalariesCompEmpBnftPaidAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $35,441,114 | PYOtherExpensesAmt |
| CY Other Expenses | $43,056,561 | CYOtherExpensesAmt |
| PY Total Expenses | $57,983,205 | PYTotalExpensesAmt |
| CY Total Expenses | $66,494,991 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $4,306,888 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $4,502,318 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $1,517,175,065 | TotalAssetsBOYAmt |
| Total Assets EOY | $1,525,962,996 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $1,357,399,599 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $1,363,293,713 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $159,775,466 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $162,669,283 | NetAssetsOrFundBalancesEOYAmt |
| Mission | This organization is a credit union exempt under IRS Code 501 (c) (14) (A). It is a Cooperative Financial Institution. The organization provides fair and competitive financial products responsive to the needs of the member-owners. | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Desc | Beacon provides multiple types of loan products responsive to the needs of its members including Agriculture, Commercial, Mortgage and Consumer loans. It has 11,416 individual loans totaling $1,057,726,181 | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Beacon Credit Union provides a superior member service experience by offering competitive deposit rates and deposit products to its members. It has 105,196 deposit accounts totaling $1,213,360,595 | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Beacon Credit Union provides 19 Full Service branches, 7 Loan Production offices and 2 back office facilities to meet the operational demands of over 47,000 members | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expenses | $0 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | false | DescribedInSection501c3Ind |
| Schedule B Required | false | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Lobbying Activities | false | LobbyingActivitiesInd |
| Subject To Proxy Tax | false | SubjectToProxyTaxInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Conservation Easements | false | ConservationEasementsInd |
| Collections Of Art | false | CollectionsOfArtInd |
| Credit Counseling | false | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | false | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (true) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | false | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | Yes (true) | ReportProgramRelatedInvstInd |
| Report Other Assets | Yes (true) | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (true) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | false | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | false | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (true) | ConsolidatedAuditFinclStmtInd |
| School Operating | false | SchoolOperatingInd |
| Foreign Office | false | ForeignOfficeInd |
| Foreign Activities | false | ForeignActivitiesInd |
| More Than5000 K To Org | false | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividualsInd |
| Professional Fundraising | false | ProfessionalFundraisingInd |
| Fundraising Activities | false | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | false | GrantsToOrganizationsInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Schedule J Required | Yes (true) | ScheduleJRequiredInd |
| Tax Exempt Bonds | false | TaxExemptBondsInd |
| Escrow Account | false | EscrowAccountInd |
| On Behalf Of Issuer | false | OnBehalfOfIssuerInd |
| Engaged In Excess Benefit Trans | false | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | false | PYExcessBenefitTransInd |
| Loan Outstanding | false | LoanOutstandingInd |
| Grant To Related Person | false | GrantToRelatedPersonInd |
| Business Rln With Org Mem | false | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | false | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | false | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | false | DeductibleNonCashContriInd |
| Deductible Art Contribution | false | DeductibleArtContributionInd |
| Terminate Operations | false | TerminateOperationsInd |
| Partial Liquidation | false | PartialLiquidationInd |
| Disregarded Entity | Yes (true) | DisregardedEntityInd |
| Related Entity | Yes (true) | RelatedEntityInd |
| Related Organization Ctrl Ent | false | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | false | TransactionWithControlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | false | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| IRP Document | 55584 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (true) | BackupWthldComplianceInd |
| Employee | 353 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (true) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (true) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (true) | Form990TFiledInd |
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| Indoor Tanning Services | false | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | false | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | false | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 7 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 7 | IndependentVotingMemberCnt |
| Family Or Business Rln | false | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | false | DelegationOfMgmtDutiesInd |
| Change To Org Documents | false | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (true) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (true) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (true) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (true) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (true) | MinutesOfCommitteesInd |
| Officer Mailing Address | false | OfficerMailingAddressInd |
| Local Chapters | Yes (true) | LocalChaptersInd |
| Policies Reference Chapters | Yes (true) | PoliciesReferenceChaptersInd |
| Form990 Provided To Gvrn Body | Yes (true) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (true) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (true) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (true) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | false | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (true) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (true) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (true) | CompensationProcessOtherInd |
| Investment In Joint Venture | false | InvestmentInJointVentureInd |
| Written Policy Or Procedure | false | WrittenPolicyOrProcedureInd |
| States Where Copy Of Return Is Fld | IN | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Steven H Caryer | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 2605637443 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 586 S WABASH STREET | AddressLine1Txt |
| City | WABASH | CityNm |
| State Abbreviation | IN | StateAbbreviationCd |
| ZIP | 46992 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (20 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| Dennis Post | ||||||||
| Board Director | 2.0 | Yes (X) | $0 | $0 | $0 | |||
| Dr Lindsay Culver | ||||||||
| Board Vice Chair | 2.0 | Yes (X) | $0 | $0 | $0 | |||
| Herbert Horrom | ||||||||
| Board Chairman | 2.0 | Yes (X) | $0 | $0 | $0 | |||
| Jim Yates | ||||||||
| Board Director | 2.0 | Yes (X) | $0 | $0 | $0 | |||
| John Peters | ||||||||
| Secretary/Treasurer | 2.0 | Yes (X) | $0 | $0 | $0 | |||
| Paul Hartman | ||||||||
| Board Director | 2.0 | Yes (X) | $0 | $0 | $0 | |||
| Sarah Delbecq | ||||||||
| Board Director | 2.0 | Yes (X) | $0 | $0 | $0 | |||
| Dawn Aschleman | ||||||||
| Chief Operations Officer | 40.0 | $238,000 | $0 | $44,035 | Yes (X) | |||
| Dustin Cuttriss | ||||||||
| President/CEO | 40.0 | $675,078 | $0 | $57,291 | Yes (X) | 1.0 | ||
| Lori Eltzroth | ||||||||
| Chief Administrative Officer | 40.0 | $222,810 | $0 | $71,709 | Yes (X) | |||
| Marc Briney | ||||||||
| Chief Marketing Officer | 40.0 | $214,667 | $0 | $22,142 | Yes (X) | |||
| Ryan Showley | ||||||||
| Chief Information Officer | 40.0 | $241,748 | $0 | $76,611 | Yes (X) | |||
| Steve Caryer | ||||||||
| Chief Financial Officer | 40.0 | $296,813 | $0 | $24,827 | Yes (X) | 1.0 | ||
| Todd Beehler | ||||||||
| Chief Strategy Officer | 40.0 | $279,996 | $0 | $91,611 | Yes (X) | |||
| Trisha Loker | ||||||||
| Chief Credit Officer | 40.0 | $210,289 | $0 | $40,441 | Yes (X) | |||
| Craig Bright | ||||||||
| VP, Ag Lending Operations | 40.0 | $212,524 | $0 | $18,044 | Yes (X) | |||
| Danielle Hicks-Appleton | ||||||||
| Senior Ag Loan Officer | 40.0 | $159,893 | $0 | $27,038 | Yes (X) | |||
| Jodie Creek | ||||||||
| Senior Ag Loan Officer | 40.0 | $170,857 | $0 | $22,183 | Yes (X) | |||
| Kyle Kuehnert | ||||||||
| Senior Ag Loan Officer | 40.0 | $157,110 | $0 | $33,960 | Yes (X) | |||
| Tiffany Haupert | ||||||||
| Investment Services Manager | 40.0 | $242,671 | $0 | $34,492 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $3,322,456 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $564,384 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 33 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | false | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (true) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| Fiserv | |||||
| PO Box 934057 | Atlanta | GA | 311934057 | Core Computer System Processing | $2,653,346 |
| Network Solutions Inc | |||||
| PO box 3009 | Warren | PA | 16365 | Computer Hardware and Software | $973,747 |
| SHI International Corp | |||||
| PO Box 952121 | Dallas | TX | 75395 | Computer Licenses and Maintenance | $799,585 |
| Finastra | |||||
| PO Box 945120 | Atlanta | GA | 303945120 | Computer Software and Maintenance | $569,704 |
| QSI | |||||
| 107 Schuler Drive | Bardstown | KS | 40004 | ATM Maintenance | $309,900 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 30 | CntrctRcvdGreaterThan100KCnt |
| Federated Campaigns | $0 | FederatedCampaignsAmt |
| Membership Dues | $0 | MembershipDuesAmt |
| Fundraising | $0 | FundraisingAmt |
| Related Organizations | $0 | RelatedOrganizationsAmt |
| Government Grants | $0 | GovernmentGrantsAmt |
| All Other Contributions | $0 | AllOtherContributionsAmt |
| Noncash Contributions | $0 | NoncashContributionsAmt |
| Total Contributions | $0 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| Income on Loans | 522130 | $48,056,491 | $48,056,491 |
| Miscellaneous Income (Fees, interchange, servicing) | 522130 | $9,740,749 | $9,740,749 |
Total Oth Program Service Rev TotalOthProgramServiceRevGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $57,797,240 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $12,594,456 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $12,594,456 | RelatedOrExemptFuncIncomeAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
| Personal | $0 | PersonalAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $371,542 | SecuritiesAmt |
| Other | $46,900 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $387,728 | SecuritiesAmt |
| Other | $48,240 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | -$16,186 | SecuritiesAmt |
| Other | -$1,340 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$17,526 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | -$17,526 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Fundraising Gross Income | $0 | FundraisingGrossIncomeAmt |
| Fundraising Direct Expenses | $0 | FundraisingDirectExpensesAmt |
Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gaming Direct Expenses | $0 | GamingDirectExpensesAmt |
Net Income Or Loss NetIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
Other Revenue Misc OtherRevenueMiscGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|---|
| Miscellaneous Income | 522130 | $326,829 | $326,829 | |
| Visa Income | 522130 | $296,310 | $296,310 |
Miscellaneous Revenue MiscellaneousRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $623,139 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $70,997,309 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $70,670,480 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $326,829 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Foreign Grants ForeignGrantsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,808,065 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $15,462,617 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,269,773 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,523,398 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,374,577 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $520,854 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $349,361 | TotalAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $231,889 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,973,401 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $743,930 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,462,180 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,795,829 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,427,694 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $292,931 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $290,857 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,658,995 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,029,776 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $249,794 | TotalAmt |
Other Expenses OtherExpensesGrp (3 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| Share Dividends Paid | $21,881,879 |
| Processing Expense | $1,639,728 |
| Miscellaneous Expense | $507,463 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $66,494,991 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,887,634 | BOYAmt |
| EOY | $8,107,510 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $38,351,469 | BOYAmt |
| EOY | $30,963,922 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $0 | EOYAmt |
Rcvbl From Disqualified Prsn RcvblFromDisqualifiedPrsnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $0 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,001,949,410 | BOYAmt |
| EOY | $1,057,726,181 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,188,290 | BOYAmt |
| EOY | $2,897,776 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $31,106,242 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $23,505,794 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,488,403 | BOYAmt |
| EOY | $7,600,448 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $354,499,670 | BOYAmt |
| EOY | $316,321,287 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $105,810,189 | BOYAmt |
| EOY | $102,345,872 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,517,175,065 | BOYAmt |
| EOY | $1,525,962,996 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $12,668,781 | BOYAmt |
| EOY | $10,933,119 | EOYAmt |
Loans From Officers Directors LoansFromOfficersDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $0 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $84,000,000 | BOYAmt |
| EOY | $139,000,000 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,260,730,818 | BOYAmt |
| EOY | $1,213,360,594 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,357,399,599 | BOYAmt |
| EOY | $1,363,293,713 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $159,775,466 | BOYAmt |
| EOY | $162,669,283 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $159,775,466 | BOYAmt |
| EOY | $162,669,283 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,517,175,065 | BOYAmt |
| EOY | $1,525,962,996 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $4,502,318 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$3,108,488 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $1,499,988 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | false | AccountantCompileOrReviewInd |
| FS Audited | Yes (true) | FSAuditedInd |
| Audit Committee | Yes (true) | AuditCommitteeInd |
| Federal Grant Audit Required | false | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $3,052,788 | OtherCostOrOtherBasisAmt |
| Book Value | $3,052,788 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $17,283,353 | OtherCostOrOtherBasisAmt |
| Depreciation | $13,908,564 | DepreciationAmt |
| Book Value | $3,374,789 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $10,354,672 | OtherCostOrOtherBasisAmt |
| Depreciation | $9,318,608 | DepreciationAmt |
| Book Value | $1,036,064 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $415,429 | OtherCostOrOtherBasisAmt |
| Depreciation | $278,622 | DepreciationAmt |
| Book Value | $136,807 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $7,600,448 | TotalBookValueLandBuildingsAmt |
Invst Program Related Org InvstProgramRelatedOrgGrp (4 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| Mortgage Backed Securities | $175,319,124 | F |
| Collateralized Mortgage Obligations | $111,268,579 | F |
| Municipal Bonds | $19,399,876 | F |
| SBA Loans Pools | $10,333,708 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Program Rltd | $316,321,287 | TotalBookValueProgramRltdAmt |
Other Assets Org OtherAssetsOrgGrp (9 entries)
| DescDesc | Book ValueBookValueAmt |
|---|---|
| Corporate One Federal Credit Union Perpetual Capital | $900,000 |
| Investment in Agribank | $100,000 |
| Federal Home Loan Bank Stock | $6,959,400 |
| Loan Servicing Rights | $261,632 |
| Share Insurance Deposit | $16,498,167 |
| Insurance & Annuity Contracts | $31,408,797 |
| Goodwill | $18,810,763 |
| Accrued Interest Receivable | $9,926,370 |
| Other Assets | $17,480,743 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $102,345,872 | TotalBookValueOtherAssetsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)
| DescDesc | AmtAmt |
|---|---|
| Federal Income Taxes | |
| Various Member Deposits | $1,213,360,594 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $1,213,360,594 | TotalLiabilityAmt |
| Other Revenue | $0 | OtherRevenueAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $0 | RevenueSubtotalAmt |
| Other Revenues Not Included | $0 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $0 | TotalRevenuePerForm990Amt |
| Other Expenses Included | $0 | OtherExpensesIncludedAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $0 | ExpensesSubtotalAmt |
| Other Expenses Not Included | $0 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $0 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Schedule D, Part X, Line 2 | FormAndLineReferenceDesc |
| Explanation | The entity recognizes tax benefits only to the extent that the entity believes it is more likely than not (i.e. greater than 50 percent) that its tax positions will be sustained upon examination. We have evaluated the entity's tax positions and have determined that the entity does not have any material uncertain tax positions. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Club Dues Or Fees | Yes (X) | ClubDuesOrFeesInd |
| Written Policy Ref T And E Expnss | Yes (true) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (true) | SubstantiationRequiredInd |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | false | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (true) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | false | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (13 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dustin Cuttriss | ||||||||||||||
| President/CEO | $390,821 | $0 | $43,428 | $0 | $240,829 | $0 | $38,030 | $0 | $19,261 | $0 | $732,369 | $0 | $0 | $0 |
| Steve Caryer | ||||||||||||||
| Chief Financial Officer | $195,227 | $0 | $19,940 | $0 | $81,646 | $0 | $9,380 | $0 | $15,447 | $0 | $321,640 | $0 | $0 | $0 |
| Todd Beehler | ||||||||||||||
| Chief Strategy Officer | $183,332 | $0 | $40,155 | $0 | $56,509 | $0 | $74,369 | $0 | $17,242 | $0 | $371,607 | $0 | $0 | $0 |
| Ryan Showley | ||||||||||||||
| Chief Information Officer | $190,702 | $0 | $19,350 | $0 | $31,696 | $0 | $67,213 | $0 | $9,398 | $0 | $318,359 | $0 | $0 | $0 |
| Dawn Aschleman | ||||||||||||||
| Chief Operations Officer | $189,400 | $0 | $18,330 | $0 | $30,270 | $0 | $44,035 | $0 | $0 | $0 | $282,035 | $0 | $0 | $0 |
| Lori Eltzroth | ||||||||||||||
| Chief Administrative Officer | $175,839 | $0 | $19,300 | $0 | $27,671 | $0 | $54,467 | $0 | $17,242 | $0 | $294,519 | $0 | $0 | $0 |
| Marc Briney | ||||||||||||||
| Chief Marketing Officer | $154,797 | $0 | $16,310 | $0 | $43,560 | $0 | $7,710 | $0 | $14,432 | $0 | $236,809 | $0 | $0 | $0 |
| Trisha Loker | ||||||||||||||
| Chief Credit Officer | $170,860 | $0 | $17,880 | $0 | $21,549 | $0 | $25,786 | $0 | $14,655 | $0 | $250,730 | $0 | $0 | $0 |
| Tiffany Haupert | ||||||||||||||
| Investment Services Manager | $242,013 | $0 | $480 | $0 | $178 | $0 | $25,461 | $0 | $9,031 | $0 | $277,163 | $0 | $0 | $0 |
| Craig Bright | ||||||||||||||
| VP, Ag Lending Operations | $161,355 | $0 | $47,080 | $0 | $4,089 | $0 | $8,646 | $0 | $9,398 | $0 | $230,568 | $0 | $0 | $0 |
| Jodie Creek | ||||||||||||||
| Senior Ag Loan Officer | $130,817 | $0 | $37,080 | $0 | $2,960 | $0 | $6,736 | $0 | $15,447 | $0 | $193,040 | $0 | $0 | $0 |
| Danielle Hicks-Appleton | ||||||||||||||
| Senior Ag Loan Officer | $132,007 | $0 | $27,260 | $0 | $626 | $0 | $17,640 | $0 | $9,398 | $0 | $186,931 | $0 | $0 | $0 |
| Kyle Kuehnert | ||||||||||||||
| Senior Ag Loan Officer | $124,766 | $0 | $29,780 | $0 | $2,564 | $0 | $17,063 | $0 | $16,897 | $0 | $191,070 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Schedule J, Part I, Line 1a Health or social club dues or initiation fees | All employees are eligible for a 50% reimbursement of their monthly gym membership fees, up to a maximum of $20 per month |
| Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan | The following employees participated in a 457(f) plan during 2024- Dustin Cuttriss, Todd Beehler, Ryan Showley, and Lori Eltzroth. The following employees participated in a 457(B) plan during 2024 - Todd Beehler, Marc Briney and Ryan Showley The following employees participated in a REBA/Section 162 Plan - Dawn Aschleman, Todd Beehler, Marc Briney, Steve Caryer, Dustin Cuttriss, Lori Eltzroth, Trish Loker, and Ryan Showley |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (9 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Form 990, Part VI, Line 6 Classes of members or stockholders | Each person or organization who establishes a savings/share account with a least $5 becomes a member per our Articles of Incorporation |
| Form 990, Part VI, Line 7a Members or stockholders electing members of governing body | Each member is entitled to one vote to elect members to the Board of Directors and Supervisory Committee per the Articles of Incorporation |
| Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders | Changes to the Articles of Incorporation require a vote by our membership. Changes to the Articles of Incorporation are also subject to the Board of Directors' approval prior to being brought to the membership for a vote. |
| Form 990, Part VI, Line 11b Review of form 990 by governing body | The Board of Directors will be provided a copy of the 990 tax return prior to the return being filed. The standard Board meeting is scheduled prior to the form 990 completion and filing. A detailed review is also performed by an independent accounting firm. |
| Form 990, Part VI, Line 12c Conflict of interest policy | All policies are reviewed annually by the Board of Directors. Any policy revisions require the Board read and understood all polices. Any violations of policies are reported to the employee's supervisor and/HR. Violations are reviewed with the employee by the supervisor and/or HR. Depending on the nature and seriousness of the policy, written reprimands or terminations may occur. All written review and reprimands require the employee to sign/acknowledge. The copies are retained in the employee personnel file in perpetuity. |
| Form 990, Part VI, Line 15a Process to establish compensation of top management official | Beacon Credit Union utilizes a salary administration product managed by an independent party to determine appropriate salary ranges for each employee position based on responsibilities, education, number of employees supervised, etc. Salary ranges are then approved by the President/CEO. Parameters are put into place at the end of each calendar year for an annual review. In this process, an employee's compensation may increase based on their past performance and where their current salary falls within the range for the position and applicable criteria. A report is also generated periodically for the CEO and is provided by HR to the Board of Directors (pulled when employment contract is up for renewal which is typically every three years). The Board of Directors will establish the CEO compensation and other benefits. An agreement will then be drafted by the Credit Union's legal counsel for the period agreed upon by the CEO and Board of Directors. The compensation review from the independent vendor was completed in 2024. |
| Form 990, Part VI, Line 15b Process to establish compensation of other employees | Beacon Credit Union utilizes a salary administration product managed by an independent party to determine appropriate salary ranges for each employee position based on responsibilities, education, number of employees supervised, etc. Salary ranges are then approved by the President/CEO. Parameters are put into place at the end of each calendar year for an annual review. In this process, an employee's compensation may increase based on their past performance and where their current salary falls within the range for the position and applicable criteria. |
| Form 990, Part VI, Line 19 Required documents available to the public | Beacon Credit Union does not make its governing documents or conflicts of interest policy available to the public. When requested by members, financial statements are made available to the public. An annual report containing year- end financial statements are published and made available upon request. |
| Form 990, Part XI, Line 9 Other changes in net assets or fund balances | Change in Pension Plan Funding in 2024 - 1499988; Total - 1499988; |
Schedule R IRS990ScheduleR
Id Disregarded Entities IdDisregardedEntitiesGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Plan One Financial Services Inc | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 641 S Miami St | AddressLine1Txt |
| City | Wabash | CityNm |
| State Abbreviation | IN | StateAbbreviationCd |
| ZIP | 46992 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 351677931 | EIN |
| Primary Activities | Financial Services | PrimaryActivitiesTxt |
| Legal Domicile State | IN | LegalDomicileStateCd |
| Total Income | $68,955 | TotalIncomeAmt |
| End Of Year Assets | $6,014,016 | EndOfYearAssetsAmt |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Beacon Credit Union | BusinessNameLine1Txt |
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Beacon Credit Union Foundation Inc (45-3814789) | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 586 S Wabash St | AddressLine1Txt |
| City | Wabash | CityNm |
| State Abbreviation | IN | StateAbbreviationCd |
| ZIP | 46992 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 453814789 | EIN |
| Primary Activities | Private Foundation | PrimaryActivitiesTxt |
| Legal Domicile State | IN | LegalDomicileStateCd |
| Exempt Code Section | 501(c)(3) | ExemptCodeSectionTxt |
| Public Charity Status | 7 | PublicCharityStatusTxt |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Beacon Credit Union | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Controlled Organization | Yes (true) | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | Yes (true) | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | false | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | false | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | false | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | false | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | false | DivRelatedOrganizationInd |
| Asset Sale To Other Org | false | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | false | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | false | AssetExchangeInd |
| Rental Of Facilities To Oth Org | false | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | false | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | false | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | false | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | false | SharingOfFacilitiesInd |
| Paid Employees Sharing | false | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | false | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | false | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | false | TransferToOtherOrgInd |
| Transfer From Other Org | false | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp
Other Organization Name OtherOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BEACON CREDIT UNION FOUNDATION INC (45-3814789) | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Transaction Type | A | TransactionTypeTxt |
| Involved | $20 | InvolvedAmt |
| Method Of Amount Determination | CASH | MethodOfAmountDeterminationTxt |