CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN: Form 990, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN (EIN 38-1250516)
- Tax period
- 2023-01-01 to 2023-12-31
- Filed
- 2024-11-01
- IRS object ID
- 202413069349301516
- 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 | 2024-11-01T09:25:08-05:00 | ReturnTs |
| Tax Period End | 2023-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 381357951 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PLANTE & MORAN PLLC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2601 CAMBRIDGE CT STE 300 | AddressLine1Txt |
| City | AUBURN HILLS | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 48326 | 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 | 381250516 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CREDIT UNIONS CHARTERED IN THE STATE OF | BusinessNameLine1Txt |
| Business Name Line2 | 222 LAKE TRUST CREDIT UNION | BusinessNameLine2Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | CRED | BusinessNameControlTxt |
| Phone | 8882677200 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4605 S OLD US HIGHWAY 23 | AddressLine1Txt |
| City | BRIGHTON | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 48114 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | DAVID SNODGRASS | PersonNm |
| Person Title | PRESIDENT & CEO | PersonTitleTxt |
| Phone | 8882677200 | PhoneNum |
| Signature | 2024-10-31 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | 0 | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | DAVID LOWENTHAL | PreparerPersonNm |
| PTIN | P00378651 | PTIN |
| Phone | 2483757100 | PhoneNum |
| Preparation | 2024-10-31 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2024-10-15 13:58:12Z | BuildTS |
Form 990 IRS990
Doing Business As Name DoingBusinessAsName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LAKE TRUST CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | DAVID SNODGRASS | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4605 S OLD US HIGHWAY 23 | AddressLine1Txt |
| City | BRIGHTON | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 48114 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $122,318,450 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Group Exemption | 1359 | GroupExemptionNum |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.LAKETRUST.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1943 | FormationYr |
| Legal Domicile State | MI | LegalDomicileStateCd |
| Activity Or Mission | MEMBERS WILL UNDERSTAND AND EXPERIENCE THE BENEFITS OF A CREDIT UNION (CONT'D ON SCH. O) RELATIONSHIP AT A COST JUSTIFIED BY THE RESULTS. MEMBERS HAVE THE CAPABILITY TO EXERCISE CONTROL OVER THEIR FINANCIAL LIVES WHILE SHARING IN THE SUCCESS OF THE ORGANIZATION. MEMBERS EXPERIENCE REWARDS OF A MUTUALLY BENEFICIAL RELATIONSHIP BASED ON ADVOCACY AND TRUST RESULTING IN TRUST AND LOYALTY. MEMBERS VALUE THE LINK BETWEEN THEIR BENEFITS AND THEIR OWNERSHIP. | ActivityOrMissionDesc |
| Voting Members Governing Body | 12 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 12 | VotingMembersIndependentCnt |
| Total Employee | 565 | TotalEmployeeCnt |
| Total Volunteers | 12 | TotalVolunteersCnt |
| Total Gross UBI | $338,622 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $625,000 | PYContributionsGrantsAmt |
| CY Contributions Grants | $1,154,622 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $93,746,217 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $107,894,242 | CYProgramServiceRevenueAmt |
| PY Investment Income | $6,374,937 | PYInvestmentIncomeAmt |
| CY Investment Income | $11,351,340 | CYInvestmentIncomeAmt |
| PY Other Revenue | $1,257,616 | PYOtherRevenueAmt |
| CY Other Revenue | $1,531,324 | CYOtherRevenueAmt |
| PY Total Revenue | $102,003,770 | PYTotalRevenueAmt |
| CY Total Revenue | $121,931,528 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $372,684 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $255,748 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $39,706,349 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $43,034,415 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $49,466,866 | PYOtherExpensesAmt |
| CY Other Expenses | $68,514,772 | CYOtherExpensesAmt |
| PY Total Expenses | $89,545,899 | PYTotalExpensesAmt |
| CY Total Expenses | $111,804,935 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $12,457,871 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $10,126,593 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $2,583,730,909 | TotalAssetsBOYAmt |
| Total Assets EOY | $2,596,794,878 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $2,383,125,371 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $2,377,179,029 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $200,605,538 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $219,615,849 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | MEMBERS WILL UNDERSTAND AND EXPERIENCE THE BENEFITS OF A CREDIT UNION RELATIONSHIP AT A COST JUSTIFIED BY THE RESULTS. MEMBERS HAVE THE CAPABILITY TO EXERCISE CONTROL OVER THEIR FINANCIAL LIVES WHILE SHARING IN THE SUCCESS OF THE ORGANIZATION. (CONT'D ON SCH. O)MEMBERS EXPERIENCE REWARDS OF A MUTUALLY BENEFICIAL RELATIONSHIP BASED ON ADVOCACY AND TRUST RESULTING IN TRUST AND LOYALTY. MEMBERS VALUE THE LINK BETWEEN THEIR BENEFITS AND THEIR OWNERSHIP. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | PROMOTED THRIFT TO 179,751 MEMBERS BY OFFERING LOANS, DEPOSITS, AND OTHER FINANCIAL PRODUCTS. | Desc |
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | 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 | 0 | 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 | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 65238 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 565 | 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 | 12 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 12 | 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 | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | 0 | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | Yes (1) | InvestmentInJointVentureInd |
| Written Policy Or Procedure | 0 | WrittenPolicyOrProcedureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | KARA STUEWE | PersonNm |
| Phone | 8882677200 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4605 S OLD US HIGHWAY 23 | AddressLine1Txt |
| City | BRIGHTON | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 48114 | 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 | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| RICK LABER | ||||||||
| CHAIRPERSON | 10.00 | 0.00 | Yes (X) | Yes (X) | $3,875 | $0 | $0 | |
| MICHAEL SOLO | ||||||||
| VICE CHAIRPERSON | 4.00 | 0.00 | Yes (X) | Yes (X) | $3,640 | $0 | $0 | |
| RAY SEIDL | ||||||||
| TREASURER | 10.00 | 0.00 | Yes (X) | Yes (X) | $3,595 | $0 | $0 | |
| KATHRYN RUSAK | ||||||||
| SECRETARY | 5.00 | 0.00 | Yes (X) | Yes (X) | $15,470 | $0 | $0 | |
| JULIE BONNER-HEINE | ||||||||
| ASSISTANT SECRETARY | 4.00 | 0.00 | Yes (X) | Yes (X) | $4,881 | $0 | $0 | |
| JAMES BARNES | ||||||||
| DIRECTOR | 4.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| DENNIS TOCHMAN | ||||||||
| DIRECTOR | 4.00 | 0.00 | Yes (X) | $7,008 | $0 | $0 | ||
| SHANE LOVELLETTE | ||||||||
| DIRECTOR | 4.00 | 0.00 | Yes (X) | $5,242 | $0 | $0 | ||
| AARON SEYBERT | ||||||||
| DIRECTOR | 4.00 | 0.00 | Yes (X) | $2,650 | $0 | $0 | ||
| PHILIP SANTER | ||||||||
| DIRECTOR | 4.00 | 0.00 | Yes (X) | $2,613 | $0 | $0 | ||
| MONICA MARTINEZ | ||||||||
| DIRECTOR | 4.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| JAMIE SCHRINER | ||||||||
| DIRECTOR | 4.00 | 0.00 | Yes (X) | $4,505 | $0 | $0 | ||
| DAVID SNODGRASS | ||||||||
| CEO AND PRESIDENT | 40.00 | 0.50 | Yes (X) | $963,485 | $0 | $356,617 | ||
| KARA STUEWE | ||||||||
| EVP, CHIEF FINANCIAL OFFICER | 40.00 | 0.00 | Yes (X) | $287,850 | $0 | $36,781 | ||
| ANDREA MOSHER - PART YEAR | ||||||||
| EVP, CHIEF LENDING OFFICER | 40.00 | 0.00 | Yes (X) | $102,890 | $0 | $12,711 | ||
| OMARI BOONE | ||||||||
| EVP GENERAL COUNSEL CRO | 40.00 | 0.00 | Yes (X) | $247,964 | $0 | $34,639 | ||
| SANDRA RADTKE | ||||||||
| COMMERCIAL SOLUTIONS OFFICER II | 40.00 | 0.00 | $213,419 | $0 | $16,482 | Yes (X) | ||
| RAYNOR ZILLGITT | ||||||||
| SVP, GENERAL COUNSEL EMERITUS | 40.00 | 0.50 | $263,358 | $0 | $31,806 | Yes (X) | ||
| JAMES SARVER | ||||||||
| SVP, FINANCIAL LIFE PLANNING | 40.00 | 0.00 | $225,229 | $0 | $28,804 | Yes (X) | ||
| THERESA DUBIEL | ||||||||
| EVP, CHIEF MEMBER EXPERIENCE OFFICER | 40.00 | 0.50 | $227,774 | $0 | $19,779 | Yes (X) | ||
| BRANDALYNN WINCHESTER-MIDDLEBROOK | ||||||||
| EVP, CHIEF PEOPLE & PURPOSE OFFICER | 40.00 | 2.00 | $227,590 | $0 | $20,966 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $2,813,038 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $558,585 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 65 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| FISERV | |||||
| PO BOX 934057 | ATLANTA | GA | 311934057 | CORE SYSTEM PROVIDER & DEBIT/ATM/CREDIT | $4,516,776 |
| PHIRE ADVERTISING & DESIGN LLC | |||||
| 111 MILLER AVE | ANN ARBOR | MI | 48104 | MEDIA CAMPAIGNS & ADVERTISING | $1,818,965 |
| THE CHRISTMAN COMPANY | |||||
| 208 N CAPITOL AVE | LANSING | MI | 48933 | CONSTRUCTION AND REMODELING SERVICES | $1,375,609 |
| BRINKS INCORPORATED | |||||
| 7373 SOLUTIONS CENTER | CHICAGO | IL | 60677 | BRANCH CASH DELIVERY & ATM SERVICING | $795,304 |
| DOXIM | |||||
| PO BOX 933472 | CLEVELAND | OH | 44193 | PROCESSING & MAILING OF NOTICES & STATEM | $775,562 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 26 | CntrctRcvdGreaterThan100KCnt |
| Government Grants | $1,154,622 | GovernmentGrantsAmt |
| Total Contributions | $1,154,622 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| MEMBER LOAN INCOME | 522100 | $83,337,888 | $83,337,888 |
| FEE INCOME | 522100 | $24,556,354 | $24,556,354 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $107,894,242 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $11,290,846 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $11,289,467 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $1,379 | UnrelatedBusinessRevenueAmt |
Royalties Revenue RoyaltiesRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $69,498 | TotalRevenueColumnAmt |
| Exclusion | $69,498 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $47,250 | RealAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $77,217 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | -$29,967 | RealAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$29,967 | TotalRevenueColumnAmt |
| Exclusion | -$29,967 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $370,199 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $309,705 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $60,494 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $60,494 | TotalRevenueColumnAmt |
| Exclusion | $60,494 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| INSURANCE INCOME | 525990 | $1,204,683 | $1,154,550 | $50,133 |
| NON-MEMBER ATM INCOME | 525990 | $287,110 | $287,110 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $1,491,793 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $121,931,528 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $120,338,259 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $338,622 | UnrelatedBusinessRevenueAmt |
| Exclusion | $100,025 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $255,748 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,980,816 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $31,381,985 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $991,447 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,309,130 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,371,037 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $121,286 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $198,147 | TotalAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $129,693 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,649,478 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,170,485 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,140,463 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,052,796 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,404,701 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $907,822 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,425,027 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,322,816 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| DIVIDENDS AND INTEREST | $18,833,912 |
| ATM SERVICE & OP. EXP | $7,200,248 |
| PROVISION FOR LOAN LOSS | $6,616,581 |
| LOAN SERVICING | $2,443,199 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,898,118 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $111,804,935 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $14,445,088 | BOYAmt |
| EOY | $12,861,971 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $113,641,551 | BOYAmt |
| EOY | $152,037,589 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $12,366,448 | BOYAmt |
| EOY | $12,678,317 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,850,467,015 | BOYAmt |
| EOY | $1,883,266,486 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,717,169 | BOYAmt |
| EOY | $3,841,300 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $111,035,719 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $47,991,639 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $63,605,888 | BOYAmt |
| EOY | $63,044,080 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $962,248 | BOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $415,979,109 | BOYAmt |
| EOY | $355,001,437 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $38,774,787 | BOYAmt |
| EOY | $38,277,761 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $69,771,606 | BOYAmt |
| EOY | $75,785,937 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,583,730,909 | BOYAmt |
| EOY | $2,596,794,878 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $13,855,714 | BOYAmt |
| EOY | $13,741,599 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $1,345,378 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $108,775 | BOYAmt |
| EOY | $97,159 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $74,047,000 | BOYAmt |
| EOY | $83,047,000 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,295,113,882 | BOYAmt |
| EOY | $2,278,947,893 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,383,125,371 | BOYAmt |
| EOY | $2,377,179,029 | 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 | $16,560,477 | BOYAmt |
| EOY | $16,560,477 | 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 | $184,045,061 | BOYAmt |
| EOY | $203,055,372 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $200,605,538 | BOYAmt |
| EOY | $219,615,849 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,583,730,909 | BOYAmt |
| EOY | $2,596,794,878 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $10,126,593 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $11,428,956 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | -$2,545,238 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
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 | $10,699,098 | OtherCostOrOtherBasisAmt |
| Book Value | $10,699,098 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $59,845,738 | OtherCostOrOtherBasisAmt |
| Depreciation | $17,338,411 | DepreciationAmt |
| Book Value | $42,507,327 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $3,931,231 | OtherCostOrOtherBasisAmt |
| Depreciation | $3,001,220 | DepreciationAmt |
| Book Value | $930,011 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $36,559,652 | OtherCostOrOtherBasisAmt |
| Depreciation | $27,652,008 | DepreciationAmt |
| Book Value | $8,907,644 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $63,044,080 | TotalBookValueLandBuildingsAmt |
Other Securities OtherSecuritiesGrp (6 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| FEDERAL HOME LOAN BANK STOCK | $4,068,100 | F |
| MORTGAGE BASED SECURITIES | $165,341,812 | F |
| BANK CDS | $9,000,000 | F |
| US GOVERNMENT & FEDERAL AGENCY SECURITIES | $166,548,480 | F |
| RATED MUNICIPAL INSTRUMENTS | $6,218,645 | F |
| CORPORATE BONDS | $3,824,400 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $355,001,437 | TotalBookValueSecuritiesAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | MEMBERS' SHARES AND SAVINGS ACCOUNTS | Desc |
| Amt | $2,278,947,893 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $2,278,947,893 | TotalLiabilityAmt |
| Total Rev Etc Audited Fincl Stmt | $122,008,745 | TotalRevEtcAuditedFinclStmtAmt |
| Other Revenue | $77,217 | OtherRevenueAmt |
| Revenue Not Reported | $77,217 | RevenueNotReportedAmt |
| Revenue Subtotal | $121,931,528 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $121,931,528 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $111,882,152 | TotExpnsEtcAuditedFinclStmtAmt |
| Other Expenses Included | $77,217 | OtherExpensesIncludedAmt |
| Expenses Not Reported | $77,217 | ExpensesNotReportedAmt |
| Expenses Subtotal | $111,804,935 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $111,804,935 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART IV, LINE 2B: | ESCROW ACCOUNTS ARE MAINTAINED FOR HOME EQUITY LOANS AND CUSTODIAL ACCOUNTS ARE MAINTAINED FOR MORTGAGES PREVIOUSLY SOLD TO FREDDIE MAC OR FANNIE MAE. |
| PART XI, LINE 2D - OTHER ADJUSTMENTS: | RENTAL EXPENSES 77,217. |
| PART XII, LINE 2D - OTHER ADJUSTMENTS: | RENTAL EXPENSES 77,217. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (20 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Non Cash AssistanceNonCashAssistanceAmt | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|---|
| LAKE TRUST CREDIT UNION FOUNDATION | ||||||||
| 4605 S OLD US HIGHWAY 23 | BRIGHTON | MI | 48114 | 455332078 | 501(C)(3) | $50,000 | $0 | COMMUNITY ASSISTANCE LAKE TRUST EMPLOYEE ASSISTANCE |
| DOWNTOWN LANSING INC | ||||||||
| 401 S WASHINGTON SQUARE SUITE 101 | LANSING | MI | 48933 | 383511288 | 501(C)(3) | $16,675 | $0 | MICRO MARKET PROGRAM SUPPORT |
| FORGOTTEN HARVEST | ||||||||
| 15000 W EIGHT MILE RD | OAK PARK | MI | 48237 | 382926476 | 501(C)(3) | $10,000 | $0 | EVENT SPONSORSHIP |
| THE CHADTOUGH FOUNDATION | ||||||||
| PO BOX 907 | SALINE | MI | 48176 | 474041494 | 501(C)(3) | $10,000 | $0 | SPONSOR CHAMPIONS DINNER |
| GREATER LANSING FOOD BANKS | ||||||||
| PO BOX 16224 | LANSING | MI | 48901 | 382424756 | 501(C)(3) | $10,000 | $0 | EMPTY PLATE DINNER SPONSOR |
| LACASA | ||||||||
| 2895 WEST GRAND RIVER | HOWELL | MI | 48843 | 382370824 | 501(C)(3) | $20,000 | $0 | MISSION PARTNER |
| IHN AT ALPHA HOUSE | ||||||||
| 4290 JACKSON ROAD | ANN ARBOR | MI | 48103 | 383052598 | 501(C)(3) | $10,000 | $0 | EVENT SPONSORSHIP |
| THE SALVATION ARMY | ||||||||
| 16130 NORTHLAND DR | SOUTHFIELD | MI | 48075 | 381370971 | 501(C)(3) | $12,500 | $0 | CAPITAL CAMPAIGN PLEDGE |
| WORKSKILLS FOUNDATION | ||||||||
| 100 SUMMIT ST | BRIGHTON | MI | 48116 | 204595453 | 501(C)(3) | $10,000 | $0 | MISSION PARTNER |
| MICHIGAN STATE UNIVERSITY | ||||||||
| 426 AUDITORIUM ROAD ROOM 360 | EAST LANSING | MI | 48824 | 386005984 | GOV | $18,073 | $0 | DONATION TO SPARTAN STRONG FUND |
| FOOD GATHERERS | ||||||||
| 1 CARROT WAY | ANN ARBOR | MI | 48105 | 382853858 | 501(C)(3) | $10,000 | $0 | SUMMER FOOD SERVICE PROGRAM SPONSOR |
| MUSKEGON RESCUE MISSION | ||||||||
| 2735 E APPLE AVENUE SUITE D | MUSKEGON | MI | 49441 | 383525239 | $10,000 | $0 | SPONSORSHIP | |
| DETROIT HISPANIC DEVELOPMENT | ||||||||
| 1211 TRUMBULL STREET | DETROIT | MI | 48216 | 383355698 | 501(C)(3) | $10,000 | $0 | SPONSORSHIP |
| MICHIGAN CHAMBER FOUNDATION | ||||||||
| 600 SOUTH WALNUT STREET | LANSING | MI | 48933 | 382647323 | 501(C)(3) | $15,000 | $0 | SPONSORSHIP/PRESENTING SPONSOR AT EVENTS |
| 2 STONES EVENTS | ||||||||
| 524 VICTORIA SQUARE | BRIGHTON | MI | 48116 | 270200464 | $8,000 | $0 | SPONSORSHIP | |
| REO TOWN COMMERCIAL ASSOCIATION (OURSPACE) | ||||||||
| 222 E ELM ST | LANSING | MI | 48910 | 010625783 | 501(C)(3) | $7,500 | $0 | SPONSORSHIP |
| MICHIGAN CREDIT UNION FOUNDATION | ||||||||
| 38695 WEST SEVEN MILE ROAD | LIVONIA | MI | 48152 | 386066911 | 501(C)(3) | $7,500 | $0 | DONATION TO COOPERATIVE |
| HEROIC IMAGINATION PROJECT | ||||||||
| 25 MONTCLAIR TERRACE | SAN FRANCISCO | CA | 94109 | 271964460 | 501(C)(3) | $6,000 | $0 | HERO ROUND TABLE SPONSOR |
| LMTS COMMUNITY OUTREACH SERVICES | ||||||||
| 1122 W HOLMES RD SUITE 3 | LANSING | MI | 48910 | 383423484 | 501(C)(3) | $7,000 | $0 | TURKEY BOX SPONSORSHIP |
| NO SENIOR WITHOUT CHRISTMAS | ||||||||
| PO BOX 26182 | LANSING | MI | 48909 | 760840671 | 501(C)(3) | $7,500 | $0 | GOLD SPONSOR |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 18 | Total501c3OrgCnt |
| Total Other Org | 2 | TotalOtherOrgCnt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | LAKE TRUST CREDIT UNION HAS OVERSIGHT OF THE LAKE TRUST CREDIT UNION FOUNDATION AND MONITORS THE USE OF THE GRANT FUNDS FOR THE FOUNDATION AND 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 |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (1) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (8 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DAVID SNODGRASS | ||||||||||||||
| CEO AND PRESIDENT | $753,385 | $0 | $184,000 | $0 | $26,100 | $0 | $335,130 | $0 | $21,487 | $0 | $1,320,102 | $0 | $0 | $0 |
| KARA STUEWE | ||||||||||||||
| EVP, CHIEF FINANCIAL OFFICER | $262,814 | $0 | $10,636 | $0 | $14,400 | $0 | $13,934 | $0 | $22,847 | $0 | $324,631 | $0 | $0 | $0 |
| RAYNOR ZILLGITT | ||||||||||||||
| SVP, GENERAL COUNSEL EMERITUS | $252,034 | $0 | $10,424 | $0 | $900 | $0 | $13,371 | $0 | $18,435 | $0 | $295,164 | $0 | $0 | $0 |
| OMARI BOONE | ||||||||||||||
| EVP GENERAL COUNSEL CRO | $239,156 | $0 | $8,208 | $0 | $600 | $0 | $12,917 | $0 | $21,722 | $0 | $282,603 | $0 | $0 | $0 |
| JAMES SARVER | ||||||||||||||
| SVP, FINANCIAL LIFE PLANNING | $215,482 | $0 | $8,847 | $0 | $900 | $0 | $11,255 | $0 | $17,549 | $0 | $254,033 | $0 | $0 | $0 |
| BRANDALYNN WINCHESTER-MIDDLEBROOK | ||||||||||||||
| EVP, CHIEF PEOPLE & PURPOSE OFFICER | $217,776 | $0 | $8,914 | $0 | $900 | $0 | $11,548 | $0 | $9,418 | $0 | $248,556 | $0 | $0 | $0 |
| THERESA DUBIEL | ||||||||||||||
| EVP, CHIEF MEMBER EXPERIENCE OFFICER | $217,515 | $0 | $8,809 | $0 | $1,450 | $0 | $11,433 | $0 | $8,346 | $0 | $247,553 | $0 | $0 | $0 |
| SANDRA RADTKE | ||||||||||||||
| COMMERCIAL SOLUTIONS OFFICER II | $204,107 | $0 | $5,412 | $0 | $3,900 | $0 | $9,057 | $0 | $7,425 | $0 | $229,901 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART I, LINE 1A | BOARD MEMBERS ARE ALLOWED TO HAVE THEIR SPOUSE AND DEPENDENT MINOR CHILDREN ATTEND A CONFERENCE WITH THEM. A 1099-MISC IS ISSUED FOR EXPENSES INCURRED. |
| PART I, LINE 4B | PARTICIPANTS IN EXECUTIVE SERP PLANS: DAVID SNODGRASS JANE KILE KARA STUEWE THE CREDIT UNION HAS SPLIT DOLLAR PLANS IN PLACE FOR RETAINING AND INCENTIVIZING ITS KEY EXECUTIVES. THE CREDIT UNION MAKES A LOAN TO THE EXECUTIVE WHO BUYS A LIFE INSURANCE POLICY THAT CREATES A FUND FROM WHICH THE EXECUTIVE BORROWS TAX-FREE TO SUPPLEMENT RETIREMENT INCOME. FULL VESTING ON THESE ACCOUNTS IS ACHIEVED IF MAINTAIN FULL EMPLOYMENT TO VESTING DATE OR TERMINATION OF EMPLOYMENT DUE TO DISABILITY. ALL THREE PARTICIPATED IN A SPLIT DOLLAR COLLATERAL INSURANCE SUPPLEMENTAL RETIREMENT PLAN - THEIR LOANS RELATED TO THIS PLAN ARE SHOWN ON SCHEDULE L. |
Schedule L IRS990ScheduleL
Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp (3 entries)
| Relationship With OrgRelationshipWithOrgTxt | Loan PurposeLoanPurposeTxt | Loan From OrganizationLoanFromOrganizationInd | Original PrincipalOriginalPrincipalAmt | Balance DueBalanceDueAmt | DefaultDefaultInd | Board Or Committee ApprovalBoardOrCommitteeApprovalInd | Written AgreementWrittenAgreementInd |
|---|---|---|---|---|---|---|---|
| DAVID SNODGRASS | |||||||
| PRESIDENT & CEO | EXECUTIVE SERP LOAN | Yes (X) | $6,928,234 | $8,622,939 | 0 | Yes (1) | Yes (1) |
| JANE KILE | |||||||
| RETIRED CHIEF MEMBER EXPERIENCE OFFICER | EXECUTIVE SERP LOAN | Yes (X) | $2,400,000 | $2,806,930 | 0 | Yes (1) | Yes (1) |
| KARA STUEWE | |||||||
| EVP, CHIEF FINANCIAL OFFICER | EXECUTIVE SERP LOAN | Yes (X) | $1,200,000 | $1,248,448 | 0 | 0 | Yes (1) |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | $12,678,317 | TotalBalanceDueAmt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (9 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | ALL ACCOUNT HOLDERS ARE REFERRED TO AS MEMBERS |
| FORM 990, PART VI, SECTION A, LINE 7A | MEMBERS ELECT THE GOVERNING BODY |
| FORM 990, PART VI, SECTION A, LINE 7B | ONLY DECISIONS SPECIFIED IN THE BYLAWS ARE REQUIRED TO BE APPROVED BY MEMBERS |
| FORM 990, PART VI, SECTION B, LINE 11B | FORM 990 IS REVIEWED BY EVP CHIEF FINANCIAL OFFICER, AVP ACCOUNTING (CURRENTLY VACANT), PRESIDENT/CEO, AND THE BOARD TREASURER/AUDIT COMMITTEE CHAIR, PRIOR TO FILING THE RETURN. |
| FORM 990, PART VI, SECTION B, LINE 12C | DIRECTORS ANNUALLY COMPLETE THE CONFLICT OF INTEREST DOCUMENTS. EMPLOYEES ARE MONITORED BY SUPERVISOR TO ENSURE POLICY COMPLIANCE. DIRECTORS EXCUSE THEMSELVES FROM VOTING IF THERE IS A CONFLICT. |
| FORM 990, PART VI, SECTION B, LINE 15 | BOARD OF DIRECTORS APPROVES COMPENSATION FOR CEO BASED ON RECOMMENDATION FROM BOARD EXECUTIVE COMMITTEE. CEO APPROVES COMPENSATION FOR LEADERSHIP TEAM DIRECT REPORTS AND THESE LEADERSHIP TEAM MEMBERS APPROVE COMPENSATION FOR THEIR DIRECT REPORT SVPS AND VPS WITH REVIEW BY CULTURE AND ENGAGEMENT. COMPENSATION CONSULTANT PERFORMS COMPETITIVE MARKET SURVEYS. ALSO PERFORMANCE EVALUATION COMPLETED BY BOARD EXECUTIVE COMMITTEE FOR CEO AND BY CEO FOR LEADERSHIP TEAM DIRECT REPORTS AND BY THESE LEADERSHIP TEAM MEMBERS FOR THEIR DIRECT REPORT SVPS AND VPS. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. |
| FORM 990, PART XI, LINE 9: | NET CHANGE IN PENSION & POST RETIREMENT HEALTH -382,861. CUMULATIVE CHANGE IN ACCOUNTING PRINCIPLE -2,162,377. |
| FORM 990, PART XII, LINE 2C: | THE AUDIT COMMITTEE ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE FINANCIAL STATEMENTS. |
Schedule R IRS990ScheduleR
Id Disregarded Entities IdDisregardedEntitiesGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MEMBERS FINANCIAL SERVICES LLC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4605 S OLD US HIGHWAY 23 | AddressLine1Txt |
| City | BRIGHTON | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 48114 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 364516718 | EIN |
| Primary Activities | INSURANCE AND FINANCIAL SERVICES | PrimaryActivitiesTxt |
| Legal Domicile State | MI | LegalDomicileStateCd |
| Total Income | $9,592 | TotalIncomeAmt |
| End Of Year Assets | $221,580 | EndOfYearAssetsAmt |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LAKE TRUST CREDIT UNION | BusinessNameLine1Txt |
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LAKE TRUST CREDIT UNION FOUNDATION | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4605 S OLD US HIGHWAY 23 | AddressLine1Txt |
| City | BRIGHTON | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 48114 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 455332078 | EIN |
| Primary Activities | ECONOMIC AND COMMUNITY ENHANCEMENT THROUGH EDUCATION AND ENGAGEMENT | PrimaryActivitiesTxt |
| Legal Domicile State | MI | LegalDomicileStateCd |
| Exempt Code Section | 501(C)(3) | ExemptCodeSectionTxt |
| Public Charity Status | LINE 7 | PublicCharityStatusTxt |
| Direct Controlling NA | N/A | DirectControllingNACd |
| Controlled Organization | 0 | 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 | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | 0 | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp
Other Organization Name OtherOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LAKE TRUST CREDIT UNION FOUNDATION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Transaction Type | B | TransactionTypeTxt |
| Involved | $50,000 | InvolvedAmt |
| Method Of Amount Determination | CASH PAYMENT | MethodOfAmountDeterminationTxt |
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