SMART FINANCIAL CREDIT UNION: Form 990, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- SMART FINANCIAL CREDIT UNION (EIN 74-0695355)
- Tax period
- 2023-01-01 to 2023-12-31
- Filed
- 2024-10-31
- IRS object ID
- 202403059349303115
- Schema version
- 2023v5.1
- 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 | 2024-10-31T17:09:37-05:00 | ReturnTs |
| Tax Period End | 2023-12-31 | 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 | 1145 BROADWAY SUITE 1300 | AddressLine1Txt |
| City | TACOMA | CityNm |
| State Abbreviation | WA | StateAbbreviationCd |
| ZIP | 98402 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2023-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 740695355 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SMART FINANCIAL CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | SMAR | BusinessNameControlTxt |
| Phone | 7138501600 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 6051 NORTH COURSE DRIVE 100 | AddressLine1Txt |
| City | HOUSTON | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 77072 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | LEANN KACZYNSKI | PersonNm |
| Person Title | CEO | PersonTitleTxt |
| Phone | 7138501600 | PhoneNum |
| Signature | 2024-10-30 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (1) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | ROSALINDA MARIKAR CPA | PreparerPersonNm |
| PTIN | P01684134 | PTIN |
| Phone | 2532721555 | PhoneNum |
| Preparation | 2024-10-30 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2024-10-15 13:58:12Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | LEANN KACZYNSKI | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 6051 NORTH COURSE DRIVE 100 | AddressLine1Txt |
| City | HOUSTON | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 77072 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $56,866,687 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Group Exemption | 2742 | GroupExemptionNum |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.SMARTCU.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1934 | FormationYr |
| Legal Domicile State | TX | LegalDomicileStateCd |
| Activity Or Mission | TO PROVIDE AN EXCELLENT EXPERIENCE THROUGH EVERY MEMBER-OWNER AND CO-WORKER INTERACTION. | ActivityOrMissionDesc |
| Voting Members Governing Body | 8 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 8 | VotingMembersIndependentCnt |
| Total Employee | 231 | TotalEmployeeCnt |
| Total Volunteers | 12 | TotalVolunteersCnt |
| Total Gross UBI | $1,119,025 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $31,433,473 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $36,097,735 | CYProgramServiceRevenueAmt |
| PY Investment Income | $3,737,317 | PYInvestmentIncomeAmt |
| CY Investment Income | $6,873,249 | CYInvestmentIncomeAmt |
| PY Other Revenue | $4,128,279 | PYOtherRevenueAmt |
| CY Other Revenue | $3,395,498 | CYOtherRevenueAmt |
| PY Total Revenue | $39,299,069 | PYTotalRevenueAmt |
| CY Total Revenue | $46,366,482 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $15,000 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $15,000 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $1,467,291 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $7,588,127 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $19,587,709 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $19,356,230 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $13,197,295 | PYOtherExpensesAmt |
| CY Other Expenses | $16,343,346 | CYOtherExpensesAmt |
| PY Total Expenses | $34,267,295 | PYTotalExpensesAmt |
| CY Total Expenses | $43,302,703 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $5,031,774 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $3,063,779 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $858,528,681 | TotalAssetsBOYAmt |
| Total Assets EOY | $848,281,672 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $794,573,403 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $776,160,257 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $63,955,278 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $72,121,415 | NetAssetsOrFundBalancesEOYAmt |
| Mission | PROMOTE FINANCIAL WELL-BEING WITHIN OUR COMMUNITIES BY PROVIDING FINANCIAL EDUCATION AND DEVELOPING DEEP, LIFELONG RELATIONSHIPS WITH OUR MEMBERS, TEAMMATES, AND COMMUNITY PARTNERS. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | NON-PROFIT SAVINGS INSTITUTION INCORPORATED UNDER PROVISIONS OF THE TEXAS CREDIT UNION ACT, FOR THE PURPOSE OF ENCOURAGING THRIFT AND PROVIDING CREDIT AT A FAIR AND REASONABLE RATE FOR OUR 62,000 PLUS MEMBERS. | Desc |
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | 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 | Yes (1) | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 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 | Yes (1) | 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 | Yes (1) | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (1) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | Yes (1) | TransactionWithControlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 26383 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 231 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 8 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 8 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | 0 | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | 0 | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | 0 | 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 | LEANN KACZYNSKI | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 7138501600 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 6051 NORTH COURSE DRIVE 100 | AddressLine1Txt |
| City | HOUSTON | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 77072 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (21 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|---|
| CHAD G GREER | |||||||||
| CHAIRMAN | 6.00 | 0.00 | Yes (X) | Yes (X) | $8,350 | $0 | $0 | ||
| TAMMIE MOORE | |||||||||
| VICE-CHAIR | 6.00 | 0.00 | Yes (X) | Yes (X) | $8,350 | $0 | $0 | ||
| TIMOTHY RAFFIELD | |||||||||
| SECRETARY | 6.00 | 0.00 | Yes (X) | Yes (X) | $8,350 | $0 | $0 | ||
| DIANA CARRION | |||||||||
| TREASURER | 6.00 | 0.00 | Yes (X) | Yes (X) | $8,350 | $0 | $0 | ||
| JEFFREY W HAMLIN | |||||||||
| DIRECTOR | 6.00 | 0.25 | Yes (X) | $8,350 | $0 | $0 | |||
| LARRY FRAZIER | |||||||||
| DIRECTOR | 6.00 | 0.00 | Yes (X) | $8,350 | $0 | $0 | |||
| DOUTHULIA GARDNER | |||||||||
| DIRECTOR | 6.00 | 0.00 | Yes (X) | $8,350 | $0 | $0 | |||
| MICHAEL O'NEILL | |||||||||
| DIRECTOR | 6.00 | 0.00 | Yes (X) | $8,350 | $0 | $0 | |||
| LEANN KACZYNSKI | |||||||||
| CEO | 50.00 | 0.25 | Yes (X) | $423,705 | $0 | $189,633 | |||
| ANGELA CHAN | |||||||||
| EVP / CFO | 50.00 | 0.25 | Yes (X) | $255,181 | $0 | $107,987 | |||
| PRESTON PRICE | |||||||||
| CXO (THRU 09/23) | 45.00 | 0.00 | $413,844 | $0 | $42,717 | Yes (X) | |||
| MARCUS MANNING | |||||||||
| CIO | 45.00 | 0.00 | $225,042 | $0 | $30,538 | Yes (X) | |||
| JULIO ROMAN | |||||||||
| CRO | 45.00 | 0.00 | $219,992 | $0 | $28,966 | Yes (X) | |||
| BRIAN ZIEMBA | |||||||||
| CCO | 45.00 | 0.00 | $211,004 | $0 | $63,270 | Yes (X) | |||
| SEAN PRICE | |||||||||
| CLO | 45.00 | 0.00 | $171,407 | $0 | $43,657 | Yes (X) | |||
| CORBIN WILSON | |||||||||
| CMO | 45.00 | 0.25 | $171,040 | $0 | $47,530 | Yes (X) | |||
| CHRIS CONWAY | |||||||||
| SVP ENTERPRISE OPERATIONS / COO | 45.00 | 0.00 | $154,366 | $0 | $33,908 | Yes (X) | |||
| LUIS GARCIA | |||||||||
| VP COMMERCIAL CREDIT | 45.00 | 0.00 | $152,507 | $0 | $12,324 | Yes (X) | |||
| ANGELA AGUIRRE | |||||||||
| SVP RELATIONSHIP DEVELOPMENT | 45.00 | 0.00 | $149,863 | $0 | $33,798 | Yes (X) | |||
| ANDREW HUANG | |||||||||
| VP MARKETING | 45.00 | 0.25 | $140,172 | $0 | $13,896 | Yes (X) | |||
| RAYMOND FINNEGAN | |||||||||
| VP LOGISTICS / SECURITY | 45.00 | 0.00 | $131,026 | $0 | $30,096 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $2,885,949 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $678,320 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 30 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (4 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| TOOLCASE INFORMANT LLC | |||||
| 5300 DTC PARKWAY SUITE 450 | GREENWOOD VILLAGE | CO | 80111 | IT SERVICES | $205,299 |
| SHELL ENERGY SOLUTIONS | |||||
| 21 WATERWAY AVENUE SUITE 450 | THE WOODLANDS | TX | 77380 | ENERGY | $202,454 |
| BUSINESS ALLIANCE FINANCIAL SERVICES | |||||
| 1500 N 19TH STREET SUITE 600 | MONROE | LA | 71201 | MBL CONSULTING / LOAN UNDERWRITING | $121,550 |
| CLIFTON LARSON ALLEN LLP | |||||
| PO BOX 679342 | HOUSTON | TX | 75267 | AUDIT | $110,574 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 4 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| INTEREST ON LOANS | 522100 | $25,093,574 | $25,093,574 | |
| OTHER OPERATIONS | 522100 | $5,514,943 | $5,434,791 | $80,152 |
| FEES AND CHARGES | 522100 | $5,489,218 | $5,489,218 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $36,097,735 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $6,908,387 | TotalRevenueColumnAmt |
| Exclusion | $6,908,387 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $56,994 | RealAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $56,994 | RealAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $56,994 | TotalRevenueColumnAmt |
| Exclusion | $56,994 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $10,066,992 | SecuritiesAmt |
| Other | $398,075 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $10,111,630 | SecuritiesAmt |
| Other | $388,575 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | -$44,638 | SecuritiesAmt |
| Other | $9,500 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$35,138 | TotalRevenueColumnAmt |
| Exclusion | -$35,138 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| INSURANCE COMMISIONS | 522100 | $2,005,800 | $966,927 | $1,038,873 |
| OTHER NON-INTEREST INCOME | 522100 | $1,332,704 | $1,332,704 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $3,338,504 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $46,366,482 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $38,317,214 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $1,119,025 | UnrelatedBusinessRevenueAmt |
| Exclusion | $6,930,243 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $15,000 | TotalAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,588,127 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,712,311 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $13,120,559 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,094,609 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,395,197 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,033,554 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $111,559 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $239,029 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,076,851 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,142,507 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $667,868 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,101,009 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,034,353 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $934 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $171,782 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,921,889 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $248,526 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| LOAN SERVICING | $1,022,678 |
| PROVISION FOR CREDIT LO | $571,932 |
| OTHER OPERATING EXPENSE | $417,579 |
| FEES & SURCHARGES | $168,747 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $446,103 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $43,302,703 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $22,799,679 | BOYAmt |
| EOY | $46,950,060 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,523,589 | BOYAmt |
| EOY | $598,930 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,572,943 | BOYAmt |
| EOY | $375,920 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,377,981 | BOYAmt |
| EOY | $6,633,475 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $459,503,112 | BOYAmt |
| EOY | $524,854,382 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,486,629 | BOYAmt |
| EOY | $2,163,549 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $55,725,400 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $22,895,823 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $31,186,650 | BOYAmt |
| EOY | $32,829,577 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $287,583,181 | BOYAmt |
| EOY | $197,445,001 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $40,494,917 | BOYAmt |
| EOY | $36,430,778 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $858,528,681 | BOYAmt |
| EOY | $848,281,672 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $17,176,782 | BOYAmt |
| EOY | $14,903,796 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $657,800 | BOYAmt |
| EOY | $914,129 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $40,652,647 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $776,738,821 | BOYAmt |
| EOY | $719,689,685 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $794,573,403 | BOYAmt |
| EOY | $776,160,257 | 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 | $63,955,278 | BOYAmt |
| EOY | $72,121,415 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $63,955,278 | BOYAmt |
| EOY | $72,121,415 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $858,528,681 | BOYAmt |
| EOY | $848,281,672 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $3,063,779 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $7,320,053 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | -$2,217,695 | OtherChangesInNetAssetsAmt |
| 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 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 | $9,542,298 | OtherCostOrOtherBasisAmt |
| Book Value | $9,542,298 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $28,002,448 | OtherCostOrOtherBasisAmt |
| Depreciation | $7,721,232 | DepreciationAmt |
| Book Value | $20,281,216 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,774,247 | OtherCostOrOtherBasisAmt |
| Depreciation | $1,245,539 | DepreciationAmt |
| Book Value | $528,708 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $16,232,977 | OtherCostOrOtherBasisAmt |
| Depreciation | $13,929,052 | DepreciationAmt |
| Book Value | $2,303,925 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $173,430 | OtherCostOrOtherBasisAmt |
| Book Value | $173,430 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $32,829,577 | TotalBookValueLandBuildingsAmt |
Other Securities OtherSecuritiesGrp (8 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| U.S. GOVERNMENT AND FEDERAL AGENCY SECURITIES | $25,646,350 | F |
| CERTIFICATES OF DEPOSIT | $8,563,000 | C |
| CC PERPETUAL CONTRIBUTED CAPITAL | $600,000 | C |
| NCUA CLF STOCK | $2,209,654 | C |
| U.S. TREASURY NOTES | $155,342,016 | F |
| COLLATERALIZED MORTGAGE OBLIGATION SECURITIES | $4,280,785 | F |
| MUNICIPAL BONDS | $452,825 | F |
| FHLB CAPITAL STOCK | $350,371 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $197,445,001 | TotalBookValueSecuritiesAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)
| DescDesc | AmtAmt |
|---|---|
| MEMBER DEPOSITS | $718,415,789 |
| LEASE LIABILITY | $1,273,896 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $719,689,685 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $46,366,482 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $46,366,482 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $46,366,482 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $43,302,703 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $43,302,703 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $43,302,703 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART IV, LINE 2B: | THE CREDIT UNION HOLDS ESCROWED FUNDS FOR THE PAYMENT OF PROPERTY TAXES AND HOMEOWNERS' INSURANCE AS A SERVICE TO OUR MEMBERS WHO HAVE MORTGAGES WITH THE CREDIT UNION. |
| PART X, LINE 2: | THE CREDIT UNION IS EXEMPT, UNDER IRC 501(C)(14), FROM MOST FEDERAL AND STATE INCOME TAXES. THE CREDIT UNION HAS FILED TAX RETURNS IN THE PAST FOR ACTIVITIES IT HAS DEEMED TAXABLE AS UNRELATED BUSINESS INCOME. THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF DECEMBER 31, 2023 AND 2022. THE CREDIT UNION'S 2020 THROUGH 2022 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable
Recipient Business Name RecipientBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SF PUBLIC CHARITY | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 920719 | AddressLine1Txt |
| City | HOUSTON | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 77292 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Recipient EIN | 270053265 | RecipientEIN |
| IRC Section | 501(C)(3) | IRCSectionDesc |
| Cash Grant | $15,000 | CashGrantAmt |
| Non Cash Assistance | $0 | NonCashAssistanceAmt |
| Valuation Method Used | N/A | ValuationMethodUsedDesc |
| Non Cash Assistance | N/A | NonCashAssistanceDesc |
| Purpose Of Grant | TO PROVIDE FUNDING TO ALLOW THE FOUNDATION TO CONTINUE TO SUPPORT THE EDUCATION AND MEDICAL COMMUNITIES SERVED BY SMART FINANCIAL CREDIT UNION. | PurposeOfGrantTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 1 | Total501c3OrgCnt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | THE ACTIVITY OF SF PUBLIC CHARITY IS REPORTED TO THE BOARD OF DIRECTORS OF SMART FINANCIAL CREDIT UNION. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | Yes (X) | TravelForCompanionsInd |
| 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 |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| 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 (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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| LEANN KACZYNSKI | ||||||||||||||
| CEO | $423,705 | $0 | $0 | $0 | $0 | $0 | $170,592 | $0 | $19,041 | $0 | $613,338 | $0 | $0 | $0 |
| PRESTON PRICE | ||||||||||||||
| CXO (THRU 09/23) | $173,233 | $0 | $0 | $0 | $240,611 | $0 | $28,226 | $0 | $14,491 | $0 | $456,561 | $0 | $0 | $0 |
| ANGELA CHAN | ||||||||||||||
| EVP / CFO | $255,181 | $0 | $0 | $0 | $0 | $0 | $88,078 | $0 | $19,909 | $0 | $363,168 | $0 | $0 | $0 |
| BRIAN ZIEMBA | ||||||||||||||
| CCO | $211,004 | $0 | $0 | $0 | $0 | $0 | $43,446 | $0 | $19,824 | $0 | $274,274 | $0 | $0 | $0 |
| MARCUS MANNING | ||||||||||||||
| CIO | $225,042 | $0 | $0 | $0 | $0 | $0 | $29,168 | $0 | $1,370 | $0 | $255,580 | $0 | $0 | $0 |
| JULIO ROMAN | ||||||||||||||
| CRO | $219,992 | $0 | $0 | $0 | $0 | $0 | $9,155 | $0 | $19,811 | $0 | $248,958 | $0 | $0 | $0 |
| CORBIN WILSON | ||||||||||||||
| CMO | $171,040 | $0 | $0 | $0 | $0 | $0 | $28,089 | $0 | $19,441 | $0 | $218,570 | $0 | $0 | $0 |
| SEAN PRICE | ||||||||||||||
| CLO | $171,407 | $0 | $0 | $0 | $0 | $0 | $24,004 | $0 | $19,653 | $0 | $215,064 | $0 | $0 | $0 |
| CHRIS CONWAY | ||||||||||||||
| SVP ENTERPRISE OPERATIONS / COO | $154,366 | $0 | $0 | $0 | $0 | $0 | $14,300 | $0 | $19,608 | $0 | $188,274 | $0 | $0 | $0 |
| ANGELA AGUIRRE | ||||||||||||||
| SVP RELATIONSHIP DEVELOPMENT | $145,599 | $0 | $4,264 | $0 | $0 | $0 | $20,178 | $0 | $13,620 | $0 | $183,661 | $0 | $0 | $0 |
| LUIS GARCIA | ||||||||||||||
| VP COMMERCIAL CREDIT | $152,507 | $0 | $0 | $0 | $0 | $0 | $4,618 | $0 | $7,706 | $0 | $164,831 | $0 | $0 | $0 |
| RAYMOND FINNEGAN | ||||||||||||||
| VP LOGISTICS / SECURITY | $131,026 | $0 | $0 | $0 | $0 | $0 | $22,128 | $0 | $7,968 | $0 | $161,122 | $0 | $0 | $0 |
| ANDREW HUANG | ||||||||||||||
| VP MARKETING | $140,172 | $0 | $0 | $0 | $0 | $0 | $5,654 | $0 | $8,242 | $0 | $154,068 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINES 4A-B | FormAndLineReferenceDesc |
| Explanation | DURING THE 2023 TAX YEAR, A SEVERANCE PAYMENT AT SEPERATION TOTALING $240,611, WAS PAID OUT TO PRESTON PRICE IN ACCORDANCE WITH COMPENSATION PLANS AND THE ORGANIZATION'S EMPLOYMENT CONTRACTS. THE CREDIT UNION PROVIDES A NON-QUALIFIED DEFERRED COMPENSATION PLAN UNDER CODE SECTION 457(F) FOR THE FOLLOWING SENIOR MANAGEMENT EMPLOYEES: LEANN KACZYNSKI AND ANGELA CHAN AS PART OF THE PLAN, THE CREDIT UNION PAYS A RETENTION BENEFIT TO EACH EMPLOYEE AT SPECIFIED DATES WITH CONTINUED EMPLOYMENT. BENEFITS ARE ALSO PAID IF EMPLOYMENT TERMINATES BEFORE THE RETENTION PERIOD IS MET UNDER SPECIFIED CIRCUMSTANCES. | ExplanationTxt |
Schedule L IRS990ScheduleL
Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp (2 entries)
| Relationship With OrgRelationshipWithOrgTxt | Loan PurposeLoanPurposeTxt | Loan From OrganizationLoanFromOrganizationInd | Original PrincipalOriginalPrincipalAmt | Balance DueBalanceDueAmt | DefaultDefaultInd | Board Or Committee ApprovalBoardOrCommitteeApprovalInd | Written AgreementWrittenAgreementInd |
|---|---|---|---|---|---|---|---|
| GARY TUMA | |||||||
| FORMER CEO | TO PAY PREMIUMS OF SECURED SPLIT-DOLLAR LIFE INSURANCE ARRANGEMENT | Yes (X) | $3,018,590 | $2,918,981 | 0 | Yes (1) | Yes (1) |
| LINDA WEBSTER | |||||||
| FORMER EVP | TO PAY PREMIUMS OF SECURED SPLIT-DOLLAR LIFE INSURANCE ARRANGEMENT | Yes (X) | $4,252,071 | $3,714,494 | 0 | Yes (1) | Yes (1) |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | $6,633,475 | TotalBalanceDueAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE L, PART II | FormAndLineReferenceDesc |
| Explanation | IN 2013, THE CREDIT UNION ENTERED INTO SECURED SPLIT-DOLLAR LIFE INSURANCE ARRANGEMENTS WITH GARY TUMA, FORMER CEO (RETIRED), AND LINDA WEBSTER, FORMER EVP (RETIRED). THE PREMIUMS ON THE POLICIES WERE FUNDED BY THE CREDIT UNION THROUGH LOANS TO THE FORMER CEO AND EVP. THE FORMER CEO AND EVP WILL PAY INTEREST ON THE LOANS ANNUALLY. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (8 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | THE CREDIT UNION IS OWNED BY ITS MEMBERS. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE CREDIT UNION HAS EIGHT BOARD MEMBERS ELECTED TO THREE-YEAR TERMS. THE MEMBERS MEET ANNUALLY TO ELECT THE BOARD OF DIRECTOR OPEN POSITIONS. |
| FORM 990, PART VI, SECTION A, LINE 7B | THE MEMBERS VOTE TO DISSOLVE OR MERGE THE CREDIT UNION. |
| FORM 990, PART VI, SECTION A, LINE 8B | THE CREDIT UNION DOES NOT HAVE A COMMITTEE WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. |
| FORM 990, PART VI, SECTION B, LINE 11B | A COPY OF THE FORM 990 IS PRESENTED AT A REGULARLY SCHEDULED BOARD MEETING BEFORE FILING. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE HUMAN RESOURCES COMMITTEE ENLISTS AN INDEPENDENT COMPENSATION CONSULTANT TO HELP DETERMINE THE CEO'S COMPENSATION. COMPARABILITY DATA IS USED FOR ARRIVING AT COMPENSATION AMOUNTS FOR OTHER OFFICERS AND KEY EMPLOYEES. THE FULL BOARD APPROVES COMPENSATION DECISIONS. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2017. |
| FORM 990, PART VI, SECTION C, LINE 19 | COPIES OF THE FINANCIAL STATEMENTS ARE DISPLAYED AT THE BRANCHES. ANNUAL REPORT IS AVAILABLE ON WEBSITE. THE GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST. |
| FORM 990, PART XI, LINE 9: | CHANGE IN DEFINED BENEFIT PLAN 862,328. CECL PROVISION ADJUSTMENT -3,080,023. |
Schedule R IRS990ScheduleR
Id Disregarded Entities IdDisregardedEntitiesGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SMART FINANCIAL RESOURCES LLC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 6051 NORTH COURSE DR SUITE 100 | AddressLine1Txt |
| City | HOUSTON | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 77072 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 760500245 | EIN |
| Primary Activities | INSURANCE SALES AND SERVICES | PrimaryActivitiesTxt |
| Legal Domicile State | TX | LegalDomicileStateCd |
| Total Income | $790,669 | TotalIncomeAmt |
| End Of Year Assets | $1,138,856 | EndOfYearAssetsAmt |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SMART FINANCIAL CREDIT UNION | BusinessNameLine1Txt |
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SF PUBLIC CHARITY | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 920719 | AddressLine1Txt |
| City | HOUSTON | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 77292 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 270053265 | EIN |
| Primary Activities | TO SUPPORT LOCAL CHARITIES AND FUND COLLEGE SCHOLARSHIPS. | PrimaryActivitiesTxt |
| Legal Domicile State | TX | 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 | SMART FINANCIAL CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| 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 | Yes (1) | 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 | Yes (1) | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | Yes (1) | SharingOfFacilitiesInd |
| Paid Employees Sharing | Yes (1) | 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 |
Transactions Related Org TransactionsRelatedOrgGrp
Other Organization Name OtherOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SF PUBLIC CHARITY | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Transaction Type | B | TransactionTypeTxt |
| Involved | $15,000 | InvolvedAmt |
| Method Of Amount Determination | CASH | MethodOfAmountDeterminationTxt |
Comments