CREDIT UNIONS IN THE STATE OF CALIFORNIA: Form 990, tax year 2011
View the entire original 990 at ProPublica ↗
- Organization
- CREDIT UNIONS IN THE STATE OF CALIFORNIA (EIN 94-1287157)
- Tax period
- 2011-01-01 to 2011-12-31
- Filed
- 2012-11-15
- IRS object ID
- 201213209349301671
- Schema version
- 2011v1.2
- 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) |
|---|---|---|
| Timestamp | 2012-11-15T08:42:04-06:00 | Timestamp |
| Tax Period End Date | 2011-12-31 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 420714325 | EIN |
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MCGLADREY LLP | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 801 NICOLLET MALL SUITE 1100 | AddressLine1 |
| City | MINNEAPOLIS | City |
| State | MN | State |
| ZIP Code | 55402 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2011-01-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 941287157 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | COAST CENTRAL CREDIT UNION | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | COAS | NameControl |
| Phone | 7074458801 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2650 HARRISON AVENUE | AddressLine1 |
| City | EUREKA | City |
| State | CA | State |
| ZIP Code | 95501 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | JAMES SESSA | Name |
| Title | SENIOR VICE PRESIDENT/CFO | Title |
| Phone | 7074458801 | Phone |
| Date Signed | 2012-11-13 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | GERALD B KISSELL | Name |
| PTIN | P00092658 | PTIN |
| Phone | 6123324300 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2011 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | DEAN CHRISTENSEN | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2650 HARRISON AVENUE | AddressLine1 |
| City | EUREKA | City |
| State | CA | State |
| ZIP Code | 95501 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 36909062 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c | X | Organization501c |
| Web Site | WWW.COASTCCU.ORG | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1950 | YearFormation |
| State Legal Domicile | CA | StateLegalDomicile |
| Activity Or Mission Description | PROVIDING FINANCIAL SERVICES TO MEMBERS. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 9 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 9 | NbrIndependentVotingMembers |
| Total Nbr Employees | 232 | TotalNbrEmployees |
| Total Nbr Volunteers | 3 | TotalNbrVolunteers |
| Total Gross UBI | 51036 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | -135683 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 0 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 0 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 30692572 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 29800785 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 7360182 | InvestmentIncomePriorYear |
| Investment Income Current Year | 7026574 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 115338 | OtherRevenuePriorYear |
| Other Revenue Current Year | 25677 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 38168092 | TotalRevenuePriorYear |
| Total Revenue Current Year | 36853036 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 196212 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 90819 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 9960266 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 8360865 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 11082542 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 11493773 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 0 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 12805958 | OtherExpensePriorYear |
| Other Expenses Current Year | 11859672 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 34044978 | TotalExpensesPriorYear |
| Total Expenses Current Year | 31805129 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 4123114 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 5047907 | RevenuesLessExpensesCY |
| Total Assets BOY | 881286464 | TotalAssetsBOY |
| Total Assets EOY | 929601413 | TotalAssetsEOY |
| Total Liabilities BOY | 784605283 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 826291249 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 96681181 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 103310164 | NetAssetsOrFundBalancesEOY |
| Info In Schedule O Part III | X | InfoInScheduleOPartIII |
| Mission Description | COAST CENTRAL CREDIT UNION'S MISSION IS TO BE THE PRIMARY FINANCIAL INSTITUTION FOR MEMBERS BY PROVIDING HIGH QUALITY FINANCIAL SERVICES AT COMPETITIVELY FAVORABLE RATES CONSISTENT WITH MAINTAINING FINANCIAL STRENGTH. | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 1 | SignificantChange |
| Description | COAST CENTRAL PROVIDES A RANGE OF DEPOSIT SERVICES TO ITS APPROXIMATELY 54,500 MEMBERS. THESE INCLUDE SAVINGS, CHECKING, MONEY MARKET, AND SAVINGS CERTIFICATE ACCOUNTS. SERVICES CAN BE ACCESSED THROUGH OUR 12 MEMBER SERVICES BRANCHES, ONLINE, BY PHONE, OR THROUGH A LARGE NETWORK OF ATMS. | Description |
Activity2 Activity2
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | WE OFFER MANY DIFFERENT LOAN PRODUCTS. THESE INCLUDE CREDIT CARDS; CONSUMER PERSONAL, AUTO, AND RV LOANS; REAL ESTATE PURCHASE, REFINANCE, AND HOME EQUITY LINES-OF-CREDIT; AND, MEMBER BUSINESS LOANS. LOAN DECISIONS ARE MADE LOCALLY, WITH KNOWLEDGE OF LOCAL CONDITIONS AND THE CREDIT UNION MEMBERS THEMSELVES. | Description |
Activity3 Activity3
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | COAST CENTRAL IS ACTIVE IN SUPPORTING MANY LOCAL EVENTS AND CHARITIES. OVER $200,000 IS DONATED TO LOCAL CHARITABLE ORGANIZATIONS, SCHOLARSHIPS TO LOCAL HIGH SCHOOL GRADUATES, AND COMMUNITY PROJECTS EACH YEAR. | Description |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Described In501 C3 | 0 | DescribedIn501C3 |
| Schedule B Required | 0 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Subject To Proxy Tax | 0 | SubjectToProxyTax |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 1 | CreditCounseling |
| Term Or Permanent Endowments | 0 | TermOrPermanentEndowments |
| Report Land Bldg Equip | 1 | ReportLandBldgEquip |
| Report Invest Oth Securities | 1 | ReportInvestOthSecurities |
| Report Prog Rel Invest | 0 | ReportProgRelInvest |
| Report Other Assets | 0 | ReportOtherAssets |
| Report Other Liabilities | 1 | ReportOtherLiabilities |
| Report Fin48 Footnote | 0 | ReportFin48Footnote |
| Independent Audit Financial Stmt | 0 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 0 | ConsolidatedAuditFinancialStmt |
| School | 0 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 0 | ForeignActivities |
| More Than5000 K To Organizations | 0 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 0 | ProfessionalFundraising |
| Fundraising Activities | 0 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 1 | GrantsToOrganizations |
| Grants To Individuals | 1 | GrantsToIndividuals |
| Schedule J Required | 1 | ScheduleJRequired |
| Tax Exempt Bonds | 0 | TaxExemptBonds |
| Loan To Officer Or DQP | 0 | LoanToOfficerOrDQP |
| Grant To Related Person | 0 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 0 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 0 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 0 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 0 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 0 | DisregardedEntity |
| Related Entity | 0 | RelatedEntity |
| Related Org Controlled Entity | 0 | RelatedOrgControlledEntity |
| Transaction Related Entity | 0 | TransactionRelatedEntity |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 12935 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Number Of Employees | 232 | NumberOfEmployees |
| Employment Tax Returns Filed | 1 | EmploymentTaxReturnsFiled |
| Unrelated Business Income | 1 | UnrelatedBusinessIncome |
| Form990-T Filed | 1 | Form990-TFiled |
| Foreign Financial Account | 0 | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Indoor Tanning Services | 0 | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 9 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 9 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 0 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 0 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 0 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 1 | MembersOrStockholders |
| Election Of Board Members | 1 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 1 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 1 | MinutesOfCommittees |
| Officer Mailing Address | 0 | OfficerMailingAddress |
| Local Chapters | 1 | LocalChapters |
| Policies Reference Chapters | 1 | PoliciesReferenceChapters |
| Form990 Provided To Governing Body | 1 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 1 | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | 1 | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | 1 | RegularMonitoringEnforcement |
| Whistleblower Policy | 1 | WhistleblowerPolicy |
| Document Retention Policy | 1 | DocumentRetentionPolicy |
| Compensation Process CEO | 1 | CompensationProcessCEO |
| Compensation Process Other | 1 | CompensationProcessOther |
| Investment In Joint Venture | 0 | InvestmentInJointVenture |
| States Where Copy Of Return Is Filed | CA | StatesWhereCopyOfReturnIsFiled |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | JAMES SESSA | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 7074431138 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2650 HARRISON AVENUE | AddressLine1 |
| City | EUREKA | City |
| State | CA | State |
| ZIP Code | 95501 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (16 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | OfficerOfficer | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | Highest Compensated EmployeeHighestCompensatedEmployee |
|---|---|---|---|---|---|---|---|
| RONALD RUDEBOCK | |||||||
| CHAIRMAN | 2.00 | X | X | 2990 | 0 | 0 | |
| PATRICIA BROWN | |||||||
| VICE CHAIRMAN | 2.00 | X | X | 0 | 0 | 0 | |
| ROBERT GEARHEART | |||||||
| TREASURER | 2.00 | X | X | 0 | 0 | 0 | |
| JOYCE JURY | |||||||
| SECRETARY | 2.00 | X | X | 0 | 0 | 0 | |
| DIANE LEIKER | |||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | ||
| JOHN GLADDING | |||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | ||
| DENISE JONES | |||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | ||
| BRENDAN MCKENNY | |||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | ||
| KELLY WALSH | |||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | ||
| DEAN CHRISTENSEN | |||||||
| PRESIDENT/CEO | 40.00 | X | 1079137 | 0 | 24817 | ||
| JAMES SESSA | |||||||
| SVP ADMIN/CFO | 40.00 | X | 310469 | 0 | 13817 | ||
| DEAN CHARLTON | |||||||
| VP MEMBER LOAN SERVICES | 40.00 | 203555 | 0 | 9513 | X | ||
| GLENN POWELL | |||||||
| VP INFORMATION SERVICES | 40.00 | 203789 | 0 | 10069 | X | ||
| CHES MEIERDING | |||||||
| VP MEMBER SERVICES | 40.00 | 146199 | 0 | 9155 | X | ||
| DENNIS HUNTER | |||||||
| VP MARKETING | 40.00 | 174201 | 0 | 9927 | X | ||
| ANN JADRO-BETTIGA | |||||||
| VP HUMAN RESOURCES | 40.00 | 135168 | 0 | 21758 | X | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 2255508 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 99056 | TotalOtherCompensation |
| Number Individuals GT100 K | 7 | NumberIndividualsGT100K |
| Formers Listed | 0 | FormersListed |
| Total Comp GT150 K | 1 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (5 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| ANTHEM BLUE CROSS | |||||
| PO BOX 6000 FILE 2953 | SAN FRANCISCO | CA | 94160 | HEALTH INSURANCE | 931877 |
| COX RASMUSSEN & CO | |||||
| 2830 F ST | EUREKA | CA | 95501 | MARKETING SERVICES | 469485 |
| INFO IMAGE | |||||
| 141 JEFFERSON DR | MENLO PARK | CA | 94025 | STATEMENT PROCESSING | 401289 |
| HARLAND FINANCIAL | |||||
| PO BOX 535120 | ATLANTA | GA | 30353 | DATA PROCESSING | 373829 |
| VELOCITY | |||||
| 1710 DAWSON ST | WILMINGTON | NC | 28403 | PROGRAM PROMOTION | 354266 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 11 | NumberOfContractorsGT100K |
Program Service Revenue ProgramServiceRevenue (3 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome | Unrelated Business RevenueUnrelatedBusinessRevenue |
|---|---|---|---|---|
| INTEREST ON LOANS | 522100 | 22112110 | 22112110 | |
| DEPOSIT & LOAN SERVICE | 522100 | 5866478 | 5866478 | |
| ATM & MISC SERVICE INC | 522100 | 1822197 | 1771161 | 51036 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 29800785 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 7075258 | TotalRevenueColumn |
| Exclusion | $7,075,258 | ExclusionAmount |
Gross Rents GrossRents
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 12500 | Real |
Less Rental Expenses LessRentalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 7342 | Real |
Rental Income Or Loss RentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 5158 | Real |
Net Rental Income Or Loss NetRentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 5158 | TotalRevenueColumn |
| Exclusion | $5,158 | ExclusionAmount |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | 48684 | Other |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | -48684 | Other |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -48684 | TotalRevenueColumn |
| Exclusion | -$48,684 | ExclusionAmount |
Other Revenue Misc OtherRevenueMisc
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | MISC OTHER INCOME | Description |
| Business Code | 522100 | BusinessCode |
| Total Revenue Column | 20519 | TotalRevenueColumn |
| Related Or Exempt Function Income | 20519 | RelatedOrExemptFunctionIncome |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | 20519 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 36853036 | TotalRevenueColumn |
| Related Or Exempt Function Income | 29770268 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 51036 | UnrelatedBusinessRevenue |
| Exclusion | $7,031,732 | ExclusionAmount |
Grants To Domestic Orgs GrantsToDomesticOrgs
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 65069 | Total |
Grants To Domestic Individuals GrantsToDomesticIndividuals
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 25750 | Total |
Benefits To Members BenefitsToMembers
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 8360865 | Total |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1431230 | Total |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 6606786 | Total |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1787210 | Total |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1077081 | Total |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 591466 | Total |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 32430 | Total |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 66733 | Total |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1124533 | Total |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 875888 | Total |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2111146 | Total |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 446518 | Total |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1012082 | Total |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 230786 | Total |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 3294385 | Total |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 512861 | Total |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 134601 | Total |
Other Expenses OtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | ALL OTHER EXPENSES | Description |
| Total | 2017709 | Total |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 31805129 | Total |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 9960227 | BOY |
| EOY | 47461036 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 351964 | BOY |
| EOY | 1239134 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 411501788 | BOY |
| EOY | 409331398 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 479977 | BOY |
| EOY | 703274 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 16848587 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 7467664 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 8927287 | BOY |
| EOY | 9380923 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 441637998 | BOY |
| EOY | 452747150 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 8427223 | BOY |
| EOY | 8738498 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 881286464 | BOY |
| EOY | 929601413 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 5336019 | BOY |
| EOY | 6182696 | EOY |
Escrow Account Liability EscrowAccountLiability
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 111572 | BOY |
| EOY | 238825 | EOY |
Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 75244873 | BOY |
| EOY | 78491099 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 703912819 | BOY |
| EOY | 741378629 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 784605283 | BOY |
| EOY | 826291249 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Do Not Follow SFAS117 | X | DoNotFollowSFAS117 |
Cap Stck Trst Prin Current Funds CapStckTrstPrinCurrentFunds
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Paid In Cap Srpls Land Bldg Eqp Fund PaidInCapSrplsLandBldgEqpFund
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Retained Earnings Endowment Etc RetainedEarningsEndowmentEtc
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 96681181 | BOY |
| EOY | 103310164 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 96681181 | BOY |
| EOY | 103310164 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 881286464 | BOY |
| EOY | 929601413 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | 5047907 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | 1581076 | ReconcilationOtherChanges |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 1 | FSAudited |
| Audit Committee | 1 | AuditCommittee |
| Financial Statement Separate | X | FinancialStatementSeparate |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequired |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | 0 | AgentTrusteeEtc |
| Included On FS | 1 | IncludedOnFS |
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 973859 | OtherCostOrOtherBasis |
| Book Value | 973859 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 8115735 | OtherCostOrOtherBasis |
| Depreciation | 2149186 | Depreciation |
| Book Value | 5966549 | BookValue |
Leasehold Improvements LeaseholdImprovements
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 1087607 | OtherCostOrOtherBasis |
| Depreciation | 501837 | Depreciation |
| Book Value | 585770 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 1895870 | OtherCostOrOtherBasis |
| Depreciation | 1388913 | Depreciation |
| Book Value | 506957 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 4775516 | OtherCostOrOtherBasis |
| Depreciation | 3427728 | Depreciation |
| Book Value | 1347788 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 9380923 | TotalOfBookValueLandBuildings |
Other Securities OtherSecurities (5 entries)
| DescriptionDescription | Book ValueBookValue | Method Of ValuationMethodOfValuation |
|---|---|---|
| SECURITIES AVAILABLE FOR SALE | 398133865 | F |
| FHLB STOCK | 4632200 | F |
| FHLB DAILY | 312983 | F |
| CORPORATE INVESTMENTS | 1647102 | F |
| SIMPLE CD DEPOSITS | 48021000 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Securities | 452747150 | TotalOfBookValueSecurities |
Other Liabilities OtherLiabilities (3 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| DIVIDENDS PAYABLE | $496,438 |
| WORK IN PROCESS | $1,194,347 |
| SHARES | $739,687,844 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 741378629 | TotalOfAmounts |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Reference | PART IV, LINE 2B: | ReturnReference |
| Explanation | THE CREDIT UNION ACTS AS CUSTODIAN ON BEHALF OF ITS MEMBER'S ESCROWED FUNDS; WHICH ARE UTILIZED TO PAY TAXES AND INSURANCE ON BEHALF OF ITS MEMBERS. | Explanation |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Records Maintained | 1 | RecordsMaintained |
Recipient Table RecipientTable (6 entries)
| Address Line1AddressUS/AddressLine1 | CityAddressUS/City | StateAddressUS/State | ZIP CodeAddressUS/ZIPCode | EIN Of RecipientEINOfRecipient | IRC SectionIRCSection | Amount Of Cash GrantAmountOfCashGrant | Purpose Of GrantPurposeOfGrant |
|---|---|---|---|---|---|---|---|
| THE EMMA CENTER | |||||||
| 5251 ERICSON WAY SUITE 3 | ARCATA | CA | 95521 | 522413340 | 501(C)(3) | 5000 | SERVICES FOR HOMELESS |
| HUMBOLDT MEDI-TRANS | |||||||
| 3120 HALFWAY AVE | MCKINLEYVILLE | CA | 955199332 | 861156209 | 501(C)(3) | 8450 | MEDICAL TRANSPORT |
| NORTH COAST HONOR FLIGHT | |||||||
| 2283 MYRTLE AVE | EUREKA | CA | 95501 | 271339423 | 501(C)(3) | 20000 | TRANSPORT WWII VETS TO WASHINGTON, DC |
| HUMAN RESPONSE NETWORK | |||||||
| 111 MOUNTAIN VIEW ST | WEAVERVILLE | CA | 96093 | 680032176 | 501(C)(3) | 10000 | FACILITIES EXPENSES |
| CITY OF RIO DELL - FIREMAN'S PARK | |||||||
| 675 WILDWOOD AVE | RIO DELL | CA | 95562 | 941603860 | 5990 | PARK EQUIPMENT | |
| PARTICULAR COUNCIL OF REDWOOD REGION OF THE SOCIETY OF ST VINCENT DE PAUL | |||||||
| 212 G STREET | EUREKA | CA | 95501 | 941573587 | 501(C)(3) | 15629 | REPLACE ROOF ON BUILDING |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Nbr Of501 C3 And Govt Grants | 6 | TotalNbrOf501C3AndGovtGrants |
Form990 Schedule I Part III Form990ScheduleIPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Type Of Grant | COLLEGE SCHOLARSHIPS | TypeOfGrant |
| Number Of Recipients | 27 | NumberOfRecipients |
| Amount Of Cash Grant | 25750 | AmountOfCashGrant |
Form990 Schedule I Part IV Form990ScheduleIPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | PROCEDURE FOR MONITORING GRANTS IN THE U.S.: | Identifier |
| Return Reference | PART I, LINE 2: | ReturnReference |
| Explanation | SCHEDULE I, PART I, LINE 2: THE MARKETING DEPT APPROVES PAYMENT OF GRANT EXPENSES TO ORGANIZATIONS AND THE ADMINISTRATION APPROVES SCHOLARSHIPS. FUNDS ARE SENT DIRECTLY TO THE FINANCIAL AID OFFICES OF THE COLLEGES THE STUDENTS WILL BE ATTENDING. IF THE STUDENTS DO NOT ACTUALLY ENROLL, THE FUNDS ARE RETURNED TO US. | Explanation |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | X | TravelForCompanions |
| Discretionary Spending Account | X | DiscretionarySpendingAccount |
| Club Dues Or Fees | X | ClubDuesOrFees |
| Written Policy Re T And E Expenses | 1 | WrittenPolicyReTAndEExpenses |
| Substantiation Required | 1 | SubstantiationRequired |
| Compensation Committee | X | CompensationCommittee |
| Written Employment Contract | X | WrittenEmploymentContract |
| Compensation Survey | X | CompensationSurvey |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | 0 | SeverancePayment |
| Supplemental Nonqual Retire Plan | 1 | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | 0 | EquityBasedCompArrangement |
Form990 Schedule J Part II Form990ScheduleJPartII (7 entries)
| Base Compensation Filing OrgBaseCompensationFilingOrg | Comp Based On Related OrgsCompBasedOnRelatedOrgs | Bonus Filing OrgBonusFilingOrg | Bonus Related OrgsBonusRelatedOrgs | Other Compensation Filing OrgOtherCompensationFilingOrg | Other Compensation Related OrgsOtherCompensationRelatedOrgs | Deferred Comp Filing OrgDeferredCompFilingOrg | Deferred Comp Related OrgsDeferredCompRelatedOrgs | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Nontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgs | Total Compensation Filing OrgTotalCompensationFilingOrg | Total Compensation Related OrgsTotalCompensationRelatedOrgs | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrg | Comp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DEAN CHRISTENSEN | |||||||||||||
| 444906 | 0 | 208684 | 0 | 425547 | 0 | 3943 | 0 | 20874 | 0 | 1103954 | 0 | 0 | 0 |
| JAMES SESSA | |||||||||||||
| 222019 | 0 | 70110 | 0 | 18340 | 0 | 1267 | 0 | 12550 | 0 | 324286 | 0 | 0 | 0 |
| DEAN CHARLTON | |||||||||||||
| 161485 | 0 | 42070 | 0 | 0 | 0 | 1272 | 0 | 8241 | 0 | 213068 | 0 | 0 | 0 |
| GLENN POWELL | |||||||||||||
| 163829 | 0 | 39960 | 0 | 0 | 0 | 1019 | 0 | 9050 | 0 | 213858 | 0 | 0 | 0 |
| CHES MEIERDING | |||||||||||||
| 111819 | 0 | 34380 | 0 | 0 | 0 | 914 | 0 | 8241 | 0 | 155354 | 0 | 0 | 0 |
| DENNIS HUNTER | |||||||||||||
| 139771 | 0 | 34430 | 0 | 0 | 0 | 1686 | 0 | 8241 | 0 | 184128 | 0 | 0 | 0 |
| ANN JADRO-BETTIGA | |||||||||||||
| 118608 | 0 | 16560 | 0 | 0 | 0 | 13517 | 0 | 8241 | 0 | 156926 | 0 | 0 | 0 |
Form990 Schedule J Part III Form990ScheduleJPartIII (3 entries)
| Return ReferenceReturnReference | ExplanationExplanation | IdentifierIdentifier |
|---|---|---|
| PART I, LINE 1A | TRAVEL: BOARD MEMBERS CAN TAKE A GUEST ON UP TO TWO CONFERENCES PER YEAR. THE GUEST EXPENSES PAID BY THE CREDIT UNION SHOULD BE REPORTED AS TAXABLE INCOME BY THE BOARD MEMBER. MEMBERSHIP DUES: THE CREDIT UNION PAYS FOR MANAGEMENT EMPLOYEES' DUES TO SERVICE CLUBS SUCH AS ROTARY, KIWANIS, ETC., FOR EDUCATIONAL, NETWORKING, AND COMMUNITY SERVICE PURPOSES. | |
| PART I, LINE 4B | DEAN CHRISTENSEN PARTICIPATED IN A NON-QUALIFIED 457F RETIREMENT PLAN DURING 2011, THE PLAN DISTRIBUTED $200,000 AND A CONTRIBUTION OF $50,000 WAS MADE TO THE PLAN. | |
| PART III | COMPENSATION RELATED DISCLOSURES COAST CENTRAL CREDIT UNION RETAINED MCGLADREY, A NATIONAL ACCOUNTING AND CONSULTING FIRM, TO CONDUCT A COMPREHENSIVE STUDY OF THE REASONABLENESS OF THE TOTAL COMPENSATION PACKAGE PROVIDED TO THE PRESIDENT AND CEO, DEAN CHRISTENSEN. THE STUDY CONTEMPLATED ALL FORMS OF ECONOMIC BENEFIT WHICH WERE BENCHMARKED AGAINST APPROPRIATE COMPARABLE DATA. THE STUDY CONCLUDED THAT THE TOTAL ECONOMIC BENEFIT PROVIDED TO THE PRESIDENT/CEO IS REASONABLE. EXPLANATION OF VARIOUS FORMS OF ECONOMIC BENEFIT PROVIDED TO KEY PERSONS OF COAST CENTRAL IS PROVIDED BELOW. SCHEDULE J EXPLANATION OF "BONUS & INCENTIVE COMPENSATION" THE CREDIT UNION HAS TWO INCENTIVE COMPENSATION PLANS, AN ANNUAL INCENTIVE COMPENSATION PLAN THAT ALL EMPLOYEES ARE ELIGIBLE FOR AND A LONG-TERM DEFERRED INCENTIVE COMPENSATION PLAN FOR ELIGIBLE SENIOR MANAGEMENT. GOALS ARE ESTABLISHED BY THE CREDIT UNION FOR EACH OF THESE PLANS TO PROVIDE INCENTIVE AND REWARDS TO EMPLOYEES FOR ACHIEVING RESULTS THAT IMPROVE AND STRENGTHEN THE CREDIT UNION. THE GOALS ARE ESTABLISHED FOR EACH OF THESE PLANS AT THE BEGINNING OF THE INCENTIVE PLAN PERIOD. FOR THE ANNUAL PLAN, PAYOUTS ARE MADE TO PARTICIPANTS BASED UPON ACHIEVEMENT OF THE ANNUAL GOALS. FOR THE LONG-TERM DEFERRED PLAN, THE GOALS MUST BE ACHIEVED OVER A THREE YEAR PERIOD FOR THE PARTICIPANT TO EARN A PAYOUT UNDER THE PLAN. INCLUDED IN THE PRESIDENT/CEO'S COMPENSATION, AS REPORTED ON THE W-2 AND SCHEDULE J, IS APPROXIMATELY $208,684 OF INCENTIVE COMPENSATION. THOUGH THIS AMOUNT IS PROPERLY REFLECTED IN THE PRESIDENT'S W-2 FOR 2011, ONLY A SMALL PORTION OF THIS AMOUNT, $9,486 (1/22ND), REFLECTS COMPENSATION FOR SERVICES RENDERED IN 2011, WHILE THE MAJORITY OF THIS AMOUNT, $199,198 (21/22ND) REFLECTS COMPENSATION FOR SERVICES RENDERED BY THE PRESIDENT DURING THE PERIOD OF 1990 THROUGH 2010. INCLUDED IN THE SVP OF ADMINISTRATION/CFO'S COMPENSATION, AS REPORTED ON THE W-2 AND SCHEDULE J, IS APPROXIMATELY $70,110 OF INCENTIVE COMPENSATION. THOUGH THIS AMOUNT IS PROPERLY REFLECTED IN THE CFO'S W-2 FOR 2011, ONLY A SMALL PORTION OF THIS AMOUNT, $2,337 (1/30TH), REFLECTS COMPENSATION FOR SERVICES RENDERED IN 2011, WHILE THE MAJORITY OF THIS AMOUNT, $67,773 (29/30TH), REFLECTS COMPENSATION FOR SERVICES RENDERED BY THE CFO DURING THE PERIOD OF 1981 THROUGH 2010. INCLUDED IN THE VP OF MEMBER LOAN SERVICES' COMPENSATION, AS REPORTED ON THE W-2 AND SCHEDULE J, IS APPROXIMATELY $42,070 OF INCENTIVE COMPENSATION. THOUGH THIS AMOUNT IS PROPERLY REFLECTED IN HIS W-2 FOR 2011, ONLY A SMALL PORTION OF THIS AMOUNT, $1,753 (1/24TH), REFLECTS COMPENSATION FOR SERVICES RENDERED IN 2011, WHILE THE MAJORITY OF THIS AMOUNT, $40,317 (23/24TH), REFLECTS COMPENSATION FOR SERVICES RENDERED BY HIM DURING THE PERIOD OF 1987 THROUGH 2010. INCLUDED IN THE VP OF INFORMATION SERVICES' COMPENSATION, AS REPORTED ON THE W-2 AND SCHEDULE J, IS APPROXIMATELY $39,960 OF INCENTIVE COMPENSATION. THOUGH THIS AMOUNT IS PROPERLY REFLECTED IN HIS W-2 FOR 2011, ONLY A SMALL PORTION OF THIS AMOUNT, $1,289 (1/31ST), REFLECTS COMPENSATION FOR SERVICES RENDERED IN 2011, WHILE THE MAJORITY OF THIS AMOUNT, $38,671 (30/31ST), REFLECTS COMPENSATION FOR SERVICES RENDERED BY HIM DURING THE PERIOD OF 1980 THROUGH 2010. INCLUDED IN THE VP OF MEMBER SERVICES' COMPENSATION, AS REPORTED ON THE W-2 AND SCHEDULE J, IS APPROXIMATELY $34,380 OF INCENTIVE COMPENSATION. THOUGH THIS AMOUNT IS PROPERLY REFLECTED IN HIS W-2 FOR 2011, ONLY A SMALL PORTION OF THIS AMOUNT, $1,375 (1/25TH), REFLECTS COMPENSATION FOR SERVICES RENDERED IN 2011, WHILE THE MAJORITY OF THIS AMOUNT, $33,005 (24/25TH), REFLECTS COMPENSATION FOR SERVICES RENDERED BY HIM DURING THE PERIOD OF 1986 THROUGH 2010. INCLUDED IN THE VP OF MARKETING'S COMPENSATION, AS REPORTED ON THE W-2 AND SCHEDULE J, IS APPROXIMATELY $34,430 OF INCENTIVE COMPENSATION. THOUGH THIS AMOUNT IS PROPERLY REFLECTED IN HIS W-2 FOR 2011, ONLY A SMALL PORTION OF THIS AMOUNT, $2,152 (1/16TH), REFLECTS COMPENSATION FOR SERVICES RENDERED IN 2011, WHILE THE MAJORITY OF THIS AMOUNT, $32,278 (15/16TH), REFLECTS COMPENSATION FOR SERVICES RENDERED BY HIM DURING THE PERIOD OF 1995 THROUGH 2010. SCHEDULE J EXPLANATION OF "OTHER REPORTABLE COMPENSATION" THE CREDIT UNION HAS ESTABLISHED A 401K RETIREMENT PLAN FOR ALL ELIGIBLE EMPLOYEES. IT HAS ALSO PUT IN PLACE OTHER PLANS AND FUNDING PAYMENTS TO PROVIDE A REASONABLE TARGETED RETIREMENT BENEFIT FOR HIGHER PAID EMPLOYEES BECAUSE OF THE LIMITATIONS UNDER QUALIFIED PLANS SUCH AS OUR 401K PLAN, WHICH CREATES A REVERSE DISCRIMINATION EFFECT. THE CREDIT UNION PROVIDES IN LIEU PAYMENTS TO AN INDIVIDUAL ONCE THE QUALIFIED LIMIT IS REACHED EQUAL TO WHAT OTHERWISE WOULD HAVE BEEN CONTRIBUTED TO THE PLAN IF NOT FOR THE LIMITATION. THE CREDIT UNION HAS ALSO ESTABLISHED, TO HELP REACH THE TARGETED RETIREMENT BENEFIT, A SPLIT DOLLAR LIFE PLAN AND A SUPPLEMENTAL RETIREMENT PLAN FOR THE BENEFIT OF THE PRESIDENT/CEO. UNDER IRS REGULATION THE SPLIT DOLLAR LIFE PLAN TRIGGERS TAXABLE IMPUTED INTEREST THAT IS ADDED TO THE W2 OF THE EXECUTIVE WITH NO CASH BEING PAID TO THE EXECUTIVE. THE CREDIT UNION PROVIDES AN ASSISTANCE PAYMENT TO THE EXECUTIVE TO OFFSET THE INCOME TAXES DUE BECAUSE OF THE IMPUTED INTEREST. THE SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN PROVIDES FOR ANNUAL CONTRIBUTIONS TO THE PLAN BY THE CREDIT UNION AND ANNUAL PAYMENTS TO THE EXECUTIVE WITH A FINAL PAYMENT FROM THE PLAN AT THE TARGETED RETIREMENT DATE. INCLUDED IN THE PRESIDENT/CEO'S COMPENSATION, AS REPORTED ON THE W-2 AND SCHEDULE J, IS APPROXIMATELY $425,547 OF "OTHER COMPENSATION", WHICH INCLUDES APPROXIMATELY $389,296 OF BENEFIT ATTRIBUTABLE TO THE RETIREMENT PLANS DESCRIBED ABOVE. THOUGH AMOUNTS ATTRIBUTABLE TO THESE BENEFITS IS PROPERLY REFLECTED IN THE PRESIDENT'S W-2 FOR 2011, ONLY A SMALL PORTION OF THIS AMOUNT, $17,695 (1/22ND), REFLECTS COMPENSATION FOR SERVICES RENDERED IN 2011, WHILE THE MAJORITY OF THIS AMOUNT, $371,601 (21/22ND), REFLECTS COMPENSATION FOR SERVICES RENDERED BY THE PRESIDENT DURING THE PERIOD OF 1990 THROUGH 2010. INCLUDED IN THE SVP OF ADMINISTRATION/CFO'S COMPENSATION, AS REPORTED ON THE W-2 AND SCHEDULE J, IS APPROXIMATELY $18,340 OF "OTHER COMPENSATION", WHICH INCLUDES APPROXIMATELY $18,340 OF BENEFIT ATTRIBUTABLE TO THE RETIREMENT PLANS DESCRIBED ABOVE. THOUGH AMOUNTS ATTRIBUTABLE TO THESE BENEFITS IS PROPERLY REFLECTED IN THE HIS W-2 FOR 2011, ONLY A SMALL PORTION OF THIS AMOUNT, $611 (1/30TH), REFLECTS COMPENSATION FOR SERVICES RENDERED IN 2011, WHILE THE MAJORITY OF THIS AMOUNT, $17,729 (29/30TH), REFLECTS COMPENSATION FOR SERVICES RENDERED BY HIM DURING THE PERIOD OF 1981 THROUGH 2010. SCHEDULE J EXPLANATION OF "RETIREMENT AND OTHER DEFERRED COMPENSATION" INCLUDED IN THE RETIREMENT BENEFITS PROVIDED BY THE CREDIT UNION, AND AS REPORTED IN COLUMN (C) OF SCHEDULE J, ARE BENEFIT AMOUNTS ATTRIBUTABLE TO THE CREDIT UNION'S 401(K) PLAN. THE AMOUNT OF 401(K) BENEFIT INCLUDED FOR EACH PERSON LISTED IN SCHEDULE J REFLECTS THE AMOUNT OF ECONOMIC BENEFIT ATTRIBUTABLE TO 2011. ALSO INCLUDED IN COLUMN (C), IN THE CASE OF THE PRESIDENT, IS A BENEFIT AMOUNT ATTRIBUTABLE TO THE CREDIT UNION'S 457(F) PLAN. THE AMOUNT OF CONTRIBUTION MADE BY THE CREDIT UNION DURING 2011 TO THE PLAN IS $50,000. THE ACTUAL ECONOMIC BENEFIT OF THE $50,000 CONTRIBUTION MAY NOT BE REALIZED/RECEIVED BY THE PRESIDENT DUE TO MARKET FLUCTUATIONS THAT MAY OCCUR BETWEEN THE DATE THE CONTRIBUTION IS MADE AND THE DATE THE PRESIDENT ACTUALLY RECEIVES THE 457(F) PLAN BENEFIT. THE AMOUNT OF ECONOMIC BENEFIT TO THE PRESIDENT INCLUDED IN COLUMN (C) OF SCHEDULE J, WITH RESPECT ONLY TO THE 457(F) PLAN BENEFIT, IS $2,273 AND THE REMAINING ECONOMIC BENEFIT OF $1,670 IS ATTRIBUTABLE TO THE 401(K) PLAN. TOGETHER, THE AMOUNTS OF $2,273 AND $1,670 ($3,943) REFLECT THE ECONOMIC BENEFIT OF THE 457(F) AND 401(K) CONTRIBUTIONS THAT ARE ATTRIBUTABLE TO SERVICES PROVIDED BY THE PRESIDENT DURING 2011 (1/22ND), WHILE THE REMAINING PORTION OF THESE BENEFITS ($82,807 OR 21/22ND) REFLECTS COMPENSATION FOR SERVICES RENDERED BY THE PRESIDENT DURING THE PERIOD OF 1990 THROUGH 2010. IN PRIOR YEARS COAST CENTRAL CREDIT UNION HAS ATTACHED TO ITS 990 FILING A "SPLIT DOLLAR NONRECOURSE LOAN REPRESENTATION". THE 2011 FORM 990 DOES NOT ALLOW PDF ATTACHMENTS TO BE INCLUDED WITH THE ELECTRONICALLY FILED FORM 990, WITH THE EXCEPTION OF SPECIFIC ATTACHMENTS REQUIRED BY THE IRS. THIS IS A CHANGE FROM THE 2010 FORM. COAST CENTRAL CREDIT UNION HAS AN E-FILE REQUIREMENT AND CANNOT PAPER FILE THE RETURN UNLESS REQUIRED BY THE IRS. IF A PAPER COPY IS FILED WHEN IT IS NOT REQUIRED THE IRS MAY CONSIDER THE RETURN AS NOT TIMELY FILED; THEREFORE THE "SPLIT DOLLAR NONRECOURSE REPRESENTATION" IS AVAILABLE UPON REQUEST. | SUPPLEMENTAL INFORMATION |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (9 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| CHANGES IN PROGRAM SERVICES | FORM 990, PART III, LINE 3 | EBANKING AND BILL PAY PROGRAMS UNDERWENT MAJOR UPGRADES. |
| FORM 990, PART VI, SECTION A, LINE 6 | THE CREDIT UNION'S MEMBERS HAVE RIGHTS TO ELECT THE MEMBERS OF THE GOVERNING BODY. THE CREDIT UNION'S MEMBERS ALSO RECEIVE A SHARE OF THE ORGANIZATION'S PROFITS IN THE FORM OF CASH DIVIDENDS. | |
| FORM 990, PART VI, SECTION A, LINE 7A | MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO ELECT ONE OR MORE MEMBERS OF THE ORGANIZATION'S GOVERNING BODY, WHETHER PERIODICALLY, OR AS VACANCIES ARISE, OR OTHERWISE. | |
| FORM 990, PART VI, SECTION A, LINE 7B | MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. | |
| FORM 990, PART VI, SECTION B, LINE 11 | THE ACCOUNTING DEPARTMENT PREPARES THE INFORMATION WHICH IS THEN REVIEWED BY SENIOR MANAGEMENT. A COPY OF FORM 990 WILL BE PRESENTED TO THE BOARD PRIOR TO FILING. | |
| FORM 990, PART VI, SECTION B, LINE 12C | THE CREDIT UNION HAS A CONFLICT OF INTEREST POLICY FOR ITS STAFF, OFFICIALS, AND THE BOARD OF DIRECTORS. CONFLICT OF INTEREST BY EMPLOYEES WHEN HANDLING MEMBER ACCOUNTS IS MONITORED BY THE COMPUTER SYSTEM. BOARD MEMBERS CANNOT VOTE ON MATTERS WHERE THERE IS A CONFLICT OF INTEREST. | |
| FORM 990, PART VI, SECTION B, LINE 15 | ANNUALLY DURING THE BUDGET PROCESS, THE BOARD OF DIRECTORS REVIEWS AND APPROVES THE COMPENSATION RANGES FOR EACH POSITION. THESE RANGES ARE DEVELOPED BY THE HUMAN RESOURCES DEPARTMENT USING COMPARABLE DATA SPECIFIC TO THE CREDIT UNION INDUSTRY. THE CEO SALARY IS BY CONTRACT AND REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS. | |
| FORM 990, PART VI, SECTION C, LINE 19 | FINANCIAL STATEMENTS ARE POSTED IN THE LOBBIES OF ALL OFFICES. ALL OTHER REQUESTS MUST BE PRESENTED IN WRITING TO THE BOARD OF DIRECTORS. | |
| CHANGES IN NET ASSETS OR FUND BALANCES: | FORM 990, PART XI, LINE 5: | CHANGE IN UNREALIZED 1,581,076. TOTAL TO FORM 990, PART XI, LINE 5: 1,581,076. |