2024-11-12T09:00:26-06:00 2023-12-31 382492570 DOEREN MAYHEW 8785 SW 165TH AVENUE SUITE 303 MIAMI FL 33193 990 2023-01-01 860096740 DESERT FINANCIAL CREDIT UNION DESE 6024337000 148 NORTH 48TH STREET PHOENIX AZ 85034 JACKIE L BIGGS JR SVP CFO 6024337000 2024-11-06 1 0 JOHN J MURNANE JR P03021572 3052328272 2024-11-06 2023 2024-10-15 13:58:12Z JEFFREY D MESHEY 148 NORTH 48TH STREET PHOENIX AZ 85034 455640047 0 X WWW.DESERTFINANCIAL.COM X 1939 AZ AT DESERT FINANCIAL, RELATIONSHIPS DRIVE SUCCESS. WE SHARE OUR FINANCIAL SUCCESS BECAUSE WE BELIEVE IT'S THE RIGHT THING TO DO FOR OUR MEMBERS, OUR COMMUNITY AND OUR TEAM. 9 9 1251 15 9095515 0 0 0 251917754 326626922 111341943 106694825 13302127 20983931 376561824 454305678 1457591 1903156 0 0 125024418 134865981 0 0 0 164056948 232242123 290538957 369011260 86022867 85294418 8192281897 8710563794 7723734301 8100080069 468547596 610483725 AT DESERT FINANCIAL, RELATIONSHIPS DRIVE SUCCESS. WE SHARE OUR FINANCIAL SUCCESS BECAUSE WE BELIEVE IT'S THE RIGHT THING TO DO FOR OUR MEMBERS, OUR COMMUNITY AND OUR TEAM. 0 0 INCOME FROM THE CREDIT UNION MEMBERSHIP AND FROM THE INVESTMENT OF MEMBERS' FUNDS PROVIDE THE FOUNDATION FROM WHICH THE ORGANIZATION CAN FUNCTION AND PROVIDE SERVICES TO ITS RESTRICTED MEMBERSHIP. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 1 1 1 1 0 1 224699 0 1 1251 1 1 1 0 0 0 0 0 1 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X DESERT FINANCIAL CREDIT UNION 6024337000 148 NORTH 48TH STREET PHOENIX AZ 85034 LAURA WATSON TREASURER 1.00 X 0 0 0 CLAUDETTE GRONSKI DIRECTOR 1.00 X 0 0 0 JANET BIOLETTO SECRETARY 1.00 X 0 0 0 CARRIE YOUNG DIRECTOR 1.00 X 0 0 0 CHRIS MINER DIRECTOR 1.00 X 0 0 0 MATTHEW FEHLING DIRECTOR 1.00 X 0 0 0 JEFFREY SMITH VICE CHAIRPERSON 1.00 X 5225 0 0 RICHARD JOHNSON DIRECTOR 1.00 X 0 0 0 KEVIN HASKEW CHAIRPERSON 1.00 X 0 0 0 JACKIE L BIGGS JR SVP CFO 40.00 X 653267 0 35222 JEFFREY D MESHEY CEO 40.00 X 2029198 0 746635 RONDLE K AMSTUTZ EXECUTIVE VP 40.00 X 891882 0 56560 JEFFREY S BUTLER CEO-SWITCHTHINK SOLUTIONS 1.00 40.00 X 0 932410 49606 CATHLEEN GRAHAM EXECUTIVE VP 40.00 X 903234 0 18504 GARY SNEED SVP CHIEF LENDING OFFICER 40.00 X 568033 0 29058 RONALD H PARKER COO-SWITCHTHINK SOLUTIONS 1.00 40.00 X 0 520070 31979 THOMAS MARLOWE SVP OPERATIONS 40.00 X 525098 0 38674 SARA K REGAN SVP GENERAL COUNSEL 40.00 X 535872 0 55669 PAUL WINTERMANTEL FINANCIAL ADVISOR II 40.00 X 625924 0 18252 STEPHEN JORDAN CHIEF REVENUE OFFICER 40.00 X 649828 0 39463 7387561 1452480 1119622 261 0 1 0 ANDERSON MOSS LLC DBA ANDERSON ADVERTIS 5800 EAST THOMAS RD 100 SCOTTSDALE AZ 85251 MARKETING 5788905 ARIZONA STATE UNIVERSITY 1551 S RURAL RD TEMPE AZ 85281 RENTAL EXPENSE 4926367 ALKAMI TECHNOLOGY INC DEPT 2223 PO BOX 122223 DALLAS TX 75312 DIGITAL BANKING PLATFORM 3174907 GOOGLE INC PO BOX 883654 LOS ANGELES CA 90088 MARKETING 2486389 FISERV INC PO BOX 208457 DALLAS TX 75320 ATM & BILLPAY 1900438 148 LOAN & LEASE INCOME 522100 197211144 197211144 FEES & OTHER OPERATING INCOME 522100 120320263 120320263 PROFESSIONAL, SCIENTIFIC, AND TEC 540000 7100719 7100719 FINANCE & INSURANCE 520000 1994796 1994796 326626922 106694825 106694825 1185001 1334369 -149368 -149368 -149368 OTHER OPERATING INCOME 522100 21133299 21133299 21133299 454305678 338515338 9095515 106694825 X 1903156 5936818 110016309 8073635 3210305 7628914 626843 715924 6041329 16544826 6364005 7806072 6018885 1138130 837951 108486417 361613 9603380 12262786 DEBIT CARD/ATM 20345273 PROVISION FOR LOAN LOSS 15849591 REPAIRS & MAINTENANCE 12513285 FRAUD LOSSES 3234992 3490821 369011260 26480431 25973370 170261352 643657050 3528876 5187979 66871083 3745977166 3980283976 6352796 10550125 164294032 102213364 64946194 62080668 3846622306 3580076850 56793155 66661774 271319621 269220919 8192281897 8710563794 165016919 193455279 600000000 7558717382 7306624790 7723734301 8100080069 X 0 0 0 0 468547596 610483725 468547596 610483725 8192281897 8710563794 X 85294418 73898557 -17256846 X X 0 1 X 1 0 19479297 19479297 61635645 35256028 26379617 13759771 9898442 3861329 65257982 54110524 11147458 4161337 2948370 1212967 62080668 MEMBER SHARES 7303801275 POST-RETIREMENT HEALTHCARE LIABILITY 2823515 7306624790 X 455640047 0 455640047 -1334369 -1334369 454305678 370345629 1334369 1334369 369011260 0 369011260 PART X, LINE 2: THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE AND LOCAL INCOME TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE (IRC) AND STATE TAX LAWS. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME DERIVED BY STATE-CHARTERED CREDIT UNIONS. GENERALLY, THESE TAXES ARE INSIGNIFICANT TO THE CREDIT UNION. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENT EXPENSE INCURRED IN GENERATING RENTAL REVENUE IS REPORTED AS AN EXPENSE IN THE AUDITED FINANCIAL STATEMENTS BUT AS A REDUCTION OF RENTAL REVENUE IN THE STATEMENT OF REVENUE IN FORM 990. -1,334,369. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENT EXPENSE INCURRED IN GENERATING RENTAL REVENUE IS REPORTED AS AN EXPENSE IN THE AUDITED FINANCIAL STATEMENTS BUT AS A REDUCTION OF RENTAL REVENUE IN THE STATEMENT OF REVENUE IN FORM 990. 1,334,369. 1 A NEW LEAF 2245 W ELLA STREET MESA AZ 85201 860256667 501(C)(3) 40341 0 GRANT, BOARD SERVICE DONATION, DOLLARS FOR DOERS INCENTIVE PROGRAM ABILITY 360 5025 E WASHINGTON ST PHOENIX AZ 85034 860436557 501(C)(3) 5340 0 EVENT SPONSORSHIP, DOLLARS FOR DOERS INCENTIVE PROGRAM ALASKA USA FOUNDATION PO BOX 196613 ANCHORAGE AK 99519 200286383 501(C)(3) 12000 0 EVENT SPONSORSHIP AMERICAN HEART ASSOCIATION 1910 W UNIVERSITY DR STE 205 TEMPE AZ 85281 135613797 501(C)(3) 101515 0 BOARD SERVICE DONATION, DONATION, EVENT SPONSORSHIP, FUNDRAISING MATCH ARIZONA EDUCATIONAL FOUNDATION 2100 N CENTRAL AVE 212 PHOENIX AZ 85004 942937109 501(C)(3) 151485 0 EVENT SPONSORSHIP, DOLLARS FOR DOERS INCENTIVE PROGRAM ASIS INTERNATIONAL 3104 E CAMELBACK RD 560 PHOENIX AZ 850164502 530234507 501(C)(3) 10000 0 ANNUAL SPONSORSHIP ASSISTANCE LEAGUE OF PHOENIX 9224 N 5TH STREET PHOENIX AZ 85020 860193883 501(C)(3) 40620 0 EVENT SPONSORSHIP, DONATION, DOLLARS FOR DOERS INCENTIVE PROGRAM ASU FOUNDATION 300 E UNIVERSITY DR TEMPE AZ 85281 866051042 501(C)(3) 32000 0 BOARD SERVICE DONATION, DONATION BETTER BUSINESS BUREAU OF CENTRAL NORTHERN ARIZONA 1010 E MISSOURI AVE PHOENIX AZ 85014 860006552 501(C)(3) 25000 0 KIVA PHOENIX HUB DONATION BILLY'S PLACE 21448 N 75TH AVE SUITE 5 GLENDALE AZ 85308 461308048 501(C)(3) 21955 0 GRANT, DOLLARS FOR DOERS INCENTIVE PROGRAM, EVENT SPONSORSHILP BOYS & GIRLS CLUB OF CENTRAL ARIZONA (PRESCOTT) 335 EAST AUBREY ST PRESCOTT AZ 86303 860964489 501(C)(3) 10050 0 GRANT, DOLLARS FOR DOERS INCENTIVE PROGRAM BOYS & GIRLS CLUB OF GREATER SCOTTSDALE 10533 E LAKEVIEW DR SCOTTSDALE AZ 85258 861033718 501(C)(3) 37500 0 EVENT SPONSORSHIP BOYS & GIRLS CLUB OF THE VALLEY 4301 E BELLEVIEW ST BUILDING 14 PHOENIX AZ 85008 860550646 501(C)(3) 18500 0 GRANT RECIPIENT, EVENT SPONSORSHIP CANDELEN 8222 S 48TH ST 120 PHOENIX AZ 85044 860332919 501(C)(3) 20140 0 GRANT, BOARD SERVICE DONATION, DOLLARS FOR DOERS INCENTIVE PROGRAM CARDINALS CHARITIES INC PO BOX 888 PHOENIX AZ 850010888 860653587 501(C)(3) 15000 0 EVENT SPONSORSHIP CATHOLIC CHARITIES COMMUNITY SERVICES INC 434 W GURLEY STREET PRESCOTT AZ 86301 860223999 501(C)(3) 12505 0 GRANT, EVENT SPONSORSHIP, DOLLARS FOR DOERS INCENTIVE PROGRAM CENTRAL ARIZONA SHELTER SERVICES 230 S 12TH AVE PHOENIX AZ 85007 860500753 501(C)(3) 25000 0 DONATION CHILDREN'S MUSEUM OF PHOENIX 215 N SEVENTH STREET PHOENIX AZ 85034 860934323 501(C)(3) 11215 0 DOLLARS FOR DOERS INCENTIVE PROGRAM, DONATION, GRANT DESERT FINANCIAL FOUNDATION 148 N 48TH ST PHOENIX AZ 85034 811028132 501(C)(3) 210000 169376 FAIR MARKET VALUE EVENT SPONSORSHIP, SCHOLARSHIPS, WORKPLACE GIVING MATCH FLAGSTAFF FAMILY FOOD CENTER 1903 N 2ND ST FLAGSTAFF AZ 86004 860754044 501(C)(3) 25105 0 EVENT SPONSORSHIP, DOLLARS FOR DOERS INCENTIVE PROGRAM FREE ARTS OF ARIZONA 352 E CAMELBACK RD PHOENIX AZ 85012 860739613 501(C)(3) 30827 0 DOLLARS FOR DOERS INCENTIVE PROGRAM, EVENT SPONSORSHIP, GRANT, WORKPLACE GIVING MATCH FUTURE FOR KIDS 1425 W SOUTHERN AVE 10A TEMPE AZ 85282 861011434 501(C)(3) 7585 0 DOLLARS FOR DOERS INCENTIVE PROGRAM, GRANT HOUSING SOLUTIONS OF NORTHERN ARIZONA 6935 EAST WILLIAMS FIELD ROAD MESA AZ 85212 860662244 501(C)(3) 25000 0 DOLLARS FOR DOERS INCENTIVE PROGRAM, DONATION JOBS FOR ARIZONA GRADS 3320 W CHERYL DRIVE SUITE B220 PHOENIX AZ 85051 860669709 501(C)(3) 15180 0 DOLLARS FOR DOERS INCENTIVE PROGRAM, GRANT KEYS TO CHANGE 204 S 12TH AVE PHOENIX AZ 85007 463333160 501(C)(3) 28843 0 WORKPLACE GIVING MATCH LAPTOPS 4 LEARNING 2320 E BASELINE RD STE 148-117 PHOENIX AZ 850426951 812833038 501(C)(3) 18500 0 BOARD SERVICE DONATION, GRANT LIVE & LEARN PROGRAM 326 E CORONADO RD PHOENIX AZ 85004 472086218 501(C)(3) 7520 0 DOLLARS FOR DOERS INCENTIVE PROGRAM, GRANT LIVE THE SOLUTION (DBA EARN TO LEARN) 4803 EAST 5TH STREET 215 TUCSON AZ 85711 261151754 501(C)(3) 10000 0 GRANT LOWELL OBSERVATORY 1400 W MARS HILL RD FLAGSTAFF AZ 86001 860098918 501(C)(3) 15000 0 GRANT MAKE-A-WISH FOUNDATION OF ARIZONA INC 2901 NORTH 78TH STREET SCOTTSDALE AZ 85251 860409636 501(C)(3) 10000 0 FUNDRAISER MCDOWELL SONORAN CONSERVANCY 15300 N 90TH STREET SUITE 400 SCOTTSDALE AZ 85260 860674350 501(C)(3) 7500 0 GRANT MIDWEST FOOD BANK 725 E BASELINE RD GILBERT AZ 85233 412120170 501(C)(3) 30000 0 BOARD SERVICE DONATION, GRANT NASCAR FOUNDATION ONE DAYTONA BOULEVARD DAYTONA BEACH FL 32114 300337745 501(C)(3) 7500 0 EVENT SPONSORSHIP NATIVE AMERICAN CONNECTIONS 4520 N CENTRAL AVE STE 600 PHOENIX AZ 85012 860293585 501(C)(3) 10265 0 DOLLARS FOR DOERS INCENTIVE PROGRAM, GRANT NEW PATHWAYS FOR YOUTH 901 E JEFFERSON ST PHOENIX AZ 85034 860615007 501(C)(3) 13669 0 BOARD SERVICE DONATION, WORKPLACE GIVING MATCH NORTHERN ARIZONA HEALTHCARE PO BOX 1268 FLAGSTAFF AZ 860021268 742410946 501(C)(3) 31000 0 DONATION PHOENIX CHILDREN'S HOSPITAL FOUNDATION 2929 E CAMELBACK RD 122 PHOENIX AZ 85016 742421549 501(C)(3) 332180 0 DOLLARS FOR DOERS INCENTIVE PROGRAM, EVENT SPONSORSHIP, GRANT, FUNDRAISING, WORKPLACE GIVING MATCH PRESCOTT AREA SHELTER SERVICES 117 W GOODWIN STREET PRESCOTT AZ 86303 860048878 501(C)(3) 25105 0 DOLLARS FOR DOERS INCENTIVE PROGRAM, DONATION SAVE THE FAMILY 125 E UNIVERSITY DR MESA AZ 85201 860665712 501(C)(3) 12740 0 DOLLARS FOR DOERS INCENTIVE PROGRAM, GRANT SOJOURNER CENTER PO BOX 20156 PHOENIX AZ 85036 942465081 501(C)(3) 5270 0 BOARD SERVICE DONATION, DOLLARS FOR DOERS INCENTIVE PROGRAM SOLID ROCK FOUNDATION 13625 N 32ND ST PHOENIX AZ 85032 860808609 501(C)(3) 17630 0 DOLLARS FOR DOERS INCENTIVE PROGRAM, EVENT SPONSORSHIP SOUTHWEST AUTISM RESEARCH AND RESOURCE CENTER 300 N 18TH STREET PHOENIX AZ 85006 311496646 501(C)(3) 15520 0 DOLLARS FOR DOERS INCENTIVE PROGRAM, GRANT SOUTHWEST HUMAN DEVELOPMENT 2850 N 24TH ST PHOENIX AZ 85008 860407179 501(C)(3) 15085 0 GRANT ST MARY'S FOOD BANK ALLIANCE 5800 N 19TH AVE SUITE 103 PHOENIX AZ 85015 860600437 501(C)(3) 34339 0 DOLLARS FOR DOERS INCENTIVE PROGRAM, DONATION, WORKPLACE GIVING MATCH ST VINCENT DE PAUL 420 W WATKINS ROAD PHOENIX AZ 85003 860096789 501(C)(3) 62631 0 DOLLARS FOR DOERS INCENTIVE PROGRAM, DONATION, GRANT, WORKPLACE GIVING MATCH THE BE KIND PEOPLE PROJECT FOUNDATION 2301 E WASHINGTON ST PHOENIX AZ 850341303 460720140 501(C)(3) 10000 0 GRANT THE FOSTER ALLIANCE 3110 E THUNDERBIRD ROAD SUITE 100 PHOENIX AZ 85032 860935988 501(C)(3) 7345 0 DOLLARS FOR DOERS INCENTIVE PROGRAM, EVENT SPONSORSHIP, WORKPLACE GIVING MATCH THE LAUNCH PAD TEEN CENTER 302 GROVE AVENUE PRESCOTT AZ 86301 465601468 501(C)(3) 15000 0 GRANT TYNKERTOPIA 3330 E ELDER DRIVE FLAGSTAFF AZ 86004 823860171 501(C)(3) 20190 0 DOLLARS FOR DOERS INCENTIVE PROGRAM, EVENT SPONSORSHIP, GRANT UNITED FOOD BANK 245 S NINA DR MESA AZ 85210 860505273 501(C)(3) 25585 0 DOLLARS FOR DOERS INCENTIVE PROGRAM, DONATION UNITED STATES VETERANS INITIATIVE 3507 N CENTRAL AVE SUITE 200 PHOENIX AZ 85012 954382752 501(C)(3) 25000 0 DONATION YAVAPAI BIG BROTHERS BIG SISTERS 3208 LAKESIDE VILLAGE PRESCOTT AZ 86301 860278776 501(C)(3) 16500 0 DOLLARS FOR DOERS INCENTIVE PROGRAM, GRANT, VOLUNTEER OF THE YEAR DONATION 52 0 FORM 990, SCHEDULE I, PART II MOST OF THE DONATIONS LISTED IN PART II ARE CHARITABLE CONTRIBUTIONS. CHARITABLE CONTRIBUTIONS ARE PROVIDED TO ORGANIZATIONS THAT ALIGN WITH OUR SOCIAL IMPACT ISSUES. DESERT FINANCIAL CREDIT UNION CONSIDERS THE FOLLOWING REQUESTS: -PROGRAM SUPPORT FUNDS TO SUPPORT THE IMPLEMENTATION OF PROGRAMS AND SERVICES -SPONSORSHIP FUNDS TO SUPPORT VOLUNTEER OR CHARITABLE EVENT OPPORTUNITIES FUNDING PRIORITIES INCLUDE: -EDUCATION: SUPPORT EDUCATIONAL INITIATIVES AND PROGRAMS THAT FOCUS ON THE FOLLOWING AREAS: -INCREASED ACADEMIC SUCCESS -POST-SECONDARY EDUCATION -TEACHER APPRECIATION AND RESOURCE SUPPORT CHILDREN & YOUTH DEVELOPMENT: ADDRESSES PROGRAMS THAT WORK WITH CHILDREN AND YOUTH AT-RISK DUE TO SOCIOECONOMIC FACTORS. PROGRAMS THAT WOULD FALL UNDER THIS CATEGORY WILL PROVIDE ONE OR BOTH OF THE FOLLOWING: -OPPORTUNITIES FOR YOUTH & WORKFORCE DEVELOPMENT -BASIC NEEDS SUPPORT (SCHOOL CLOTHING, SUPPLIES, ETC.) -MENTORING -TRAUMA INFORMED CARE & HEAL FINANCIAL WELLNESS: HELP IMPROVE FINANCIAL STABILITY THROUGH THE DISTRIBUTION OF EDUCATION AND RESOURCES. FUNDING WILL BE PROVIDED TO PROGRAMS THAT SHARE FINANCIAL RESOURCES WITH ITS CLIENTS AND MAY INCLUDE: -FINANCIAL WELLNESS EDUCATION, INCLUDING EMPLOYMENT SUPPORT, BUDGETING, SAVINGS, CREDIT AND DEBT AWARENESS, AND MORE SOCIAL SERVICES, POVERTY, & HOMELESSNESS: IMPROVING RESOURCE ACCESS FOR ARIZONA COMMUNITIES FOCUSED ON CRITICAL SERVICES SUCH AS: -HUNGER AND FOOD INSECURITY -TRANSITION TO RELIABLE HOUSING AND PERMANENT SUPPORTIVE HOUSING SOLUTIONS -ACCESS TO MENTAL HEALTH AND PHYSICAL HEALTH SERVICES NONPROFIT PARTNERS ARE GRANTED THROUGHOUT MARICOPA, YAVAPAI, AND COCONINO COUNTIES ANNUALLY BASED ON THEIR EXISTING RELATIONSHIP (VOLUNTEERING, PRIOR GIVING, AND ENGAGEMENT WITHIN OUR FINANCIAL WELL-BEING EDUCATION INITIATIVES), OPERATIONAL SOUNDNESS, CRITICAL NEED AND WHETHER OR NOT THE NONPROFIT RECEIVED SUPPORT THROUGH OTHER INITIATIVES SUPPORTED BY THE CREDIT UNION. TO MAXIMIZE OUR IMPACT, WE FOCUSED OUR GRANT GIVING SPECIFICALLY ON EDUCATIONAL INITIATIVES AND PROGRAMS THAT ARE BEING IMPLEMENTED BY OUR NONPROFIT PARTNERS. ACCORDING TO ARIZONA DEPARTMENT OF EDUCATION'S COVID IMPACT CENTER, ACADEMIC PROFICIENCY IN SCHOOLS IS DOWN ACROSS ALL AGE GROUPS, COMPARED TO 2019, WITH MORE SIGNIFICANT GAPS WITH NATIVE AMERICAN, AFRICAN AMERICAN, AND HISPANIC STUDENTS. ARIZONA'S HIGH SCHOOL COMPLETION RANKS IN THE BOTTOM QUARTILE OF THE UNITED STATES, AND AT THIS RATE, ONLY 16% OF TODAY'S 9TH GRADERS WILL GRADUATE FROM A FOUR-YEAR COLLEGE BY 2029. A FOCUS IN EDUCATION ALLOWED US TO DRILL DOWN IN THIS IMPACT AREA WHILE ALLOWING FOR A VARIETY OF SUPPORT RANGING FROM K-12 EDUCATION, TECHNOLOGY ACCESS, CRITICAL SKILLS DEVELOPMENT, HIGHER EDUCATION, AND MORE. THIS COULD ALSO INCLUDE SERVICES THAT ADVANCE EDUCATIONAL OUTCOMES, INCLUDING MENTORING PROGRAMS, FOOD DISTRIBUTION IN SCHOOLS, & AFTER-SCHOOL PROGRAMS, AMONG OTHERS. THAT INCLUDED AN APPLICATION PROCESS WHEREBY A SELECT GROUP OF EXISTING NONPROFIT PARTNERS WERE INVITED TO SUBMIT A REQUEST FOR FINANCIAL SUPPORT. THE GRANT APPLICATION REQUIRED THAT NONPROFITS PROVIDE THE FOLLOWING: 1. DESCRIPTION OF THE EDUCATIONAL PROGRAM THE NONPROFIT IS SEEKING FUNDS FOR 2. THE NEED OR PROBLEM THAT THE ORGANIZATION ADDRESSES 3. POPULATIONS SERVED AND HOW MANY PEOPLE WILL BE SERVED IF THE FULL REQUESTED FUNDING AMOUNT IS AWARDED 4. ADDITIONAL FUNDING SOURCES SOUGHT 5. REQUESTED AMOUNT 6. CHALLENGES ADDRESSED WITH THE FUNDS 7. HOW THE PROGRAMS EFFECTIVENESS WILL BE EVALUATED X 1 1 X X X X 0 1 0 JEFFREY D MESHEY CEO 1034388 0 976181 0 18629 0 702640 0 43995 0 2775833 0 0 0 JEFFREY S BUTLER CEO-SWITCHTHINK SOLUTIONS 0 565498 0 361176 0 5736 0 13200 0 36406 0 982016 0 0 RONDLE K AMSTUTZ EXECUTIVE VP 535226 0 346474 0 10182 0 13200 0 43360 0 948442 0 0 0 CATHLEEN GRAHAM EXECUTIVE VP 556479 0 338257 0 8498 0 3074 0 15430 0 921738 0 0 0 STEPHEN JORDAN CHIEF REVENUE OFFICER 432215 0 216300 0 1313 0 13200 0 26263 0 689291 0 0 0 JACKIE L BIGGS JR SVP CFO 456873 0 195081 0 1313 0 10880 0 24342 0 688489 0 0 0 PAUL WINTERMANTEL FINANCIAL ADVISOR II 620456 0 4680 0 788 0 13200 0 5052 0 644176 0 0 0 GARY SNEED SVP CHIEF LENDING OFFICER 264981 0 301941 0 1111 0 12216 0 16842 0 597091 0 0 0 SARA K REGAN SVP GENERAL COUNSEL 341816 0 193399 0 657 0 12846 0 42823 0 591541 0 0 0 THOMAS MARLOWE SVP OPERATIONS 345465 0 178320 0 1313 0 13200 0 25474 0 563772 0 0 0 RONALD H PARKER COO-SWITCHTHINK SOLUTIONS 0 328625 0 190047 0 1398 0 6779 0 25200 0 552049 0 0 PART I, LINE 4B IN 2023, THE CREDIT UNION PARTICIPATED IN TWO SUPPLEMENTAL NONQUALIFIED RETIRMENT PLANS RELATED TO THE CEO, JEFFREY D. MESHEY. THE CREDIT UNION RECOGNIZED AN ACCRUED EXPENSE OF $687,450 TOWARD THE PLAN DURING 2023. THE FOLLOWING INDIVIDUALS PARTICIPATE IN A SPLIT DOLLAR LIFE INSURANCE ARRANGEMENT: JEFFREY MESHEY RONDLE AMSTUTZ CATHLEEN GRAHAM JEFFREY MESHEY CEO SEE PART V X 24776327 24845155 0 1 1 CATHLEEN GRAHAM EXECUTIVE VP SEE PART V X 24277872 24277872 0 1 1 RONDLE AMSTUTZ EXECUTIVE VP SEE PART V X 17698042 17748056 0 1 1 66871083 FORM 990, SCH L, PART II THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS THROUGH AN ALTERNATIVE FUNDING ARRANGEMENT THE IRS CALLS "COLLATERAL ASSIGNMENT SPLIT DOLLAR" (CASD). ALTHOUGH THE IRS REQUIRES REPORTING IN THE LOAN SECTION OF SCHEDULE L, CASD IS NOT A LOAN BECAUSE NO FUNDS ARE TRANSFERRED TO THE EXECUTIVE. RATHER, THE "LOAN" TREATMENT APPLIES BECAUSE AFTER THE EXECUTIVE HAS RECEIVED RETIREMENT BENEFITS, THE CREDIT UNION RECOVERS ALL ITS OUTLAYS PLUS INTEREST. THE RECOVERY RIGHT IS A KEY ADVANTAGE OF CASD FOR THE CREDIT UNION. RATHER THAN PAYING RETIREMENT BENEFITS TO THE EXECUTIVE THAT WOULD NEVER BE RECOVERED, UNDER CASD THE CREDIT UNION RECOVERS NOT ONLY ITS OUTLAYS BUT ALSO CONSIDERATION FOR THE TIME VALUE OF MONEY. THE CASD PLAN WORKS AS FOLLOWS: THE CREDIT UNION DEPOSITS FUNDS INTO CASH VALUE LIFE INSURANCE POLICIES ON THE EXECUTIVE'S LIFE. DURING LIFE, TO THE EXTENT THE EXECUTIVE FULFILLS SERVICE AND VESTING REQUIREMENTS, THE EXECUTIVE CAN BORROW AGAINST THE CASH SURRENDER VALUE TO SUPPLEMENT RETIREMENT INCOME. POLICY PERFORMANCE IS CLOSELY MONITORED. IF POLICY PERFORMANCE LAGS, THE EXECUTIVE'S BORROWING RIGHTS ARE REDUCED TO PROTECT THE CREDIT UNION'S RECOVERY RIGHTS. AT THE EXECUTIVE'S DEATH, THE POLICY DEATH PROCEEDS ARE USED TO REPAY THE CREDIT UNION'S DEPOSITS PLUS COMPOUNDED INTEREST (AT THE IRS LONG-TERM APPLICABLE FEDERAL RATE). THE EXECUTIVE'S BENEFICIARY RECEIVES ANY PROJECTED RETIREMENT BORROWING THE EXECUTIVE DID NOT ACCESS DURING LIFE. ANY REMAINING DEATH PROCEEDS WILL BE PAID TO THE CREDIT UNION TO PROVIDE ADDITIONAL FUNDING FOR THE CREDIT UNION'S SUCCESSION PLANNING, CHARITABLE ACTIVITIES AND TO OFFSET EMPLOYEE BENEFIT EXPENSES. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION HAS A SINGLE CLASS OF MEMBERS WITH EQUAL RIGHTS OF OWNERSHIP, GOVERNANCE, AND VOTING. FORM 990, PART VI, SECTION A, LINE 7A BOARD MEMBERS ARE ELECTED FOR THREE YEAR TERMS BY THE MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERS MUST APPROVE MERGERS AND BY-LAW CHANGES. FORM 990, PART VI, SECTION B, LINE 11B THE CEO, JEFFREY D. MESHEY AND THE SVP CFO, JACKIE L. BIGGS, JR., WILL REVIEW FORM 990 BEFORE FILING AND PROVIDE A COPY TO THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C EMPLOYEES MUST DISCLOSE FINANCIAL OR OTHER BUSINESS RELATIONSHIPS THAT MAY CONSTITUTE A CONFLICT OF INTEREST. EMPLOYEES MUST ALSO OBTAIN PRIOR APPROVAL FROM THE CEO, EXECUIVE MANAGEMENT TEAM (EMT) AND GENERAL COUNSEL BEFORE ENGAGING IN OUTSIDE BUSINESS ACTIVITIES FOR COMPENSATION THAT OFFER COMPETING SERVICES TO DESERT FINANCIAL CREDIT UNION. HUMAN RESOURCES INVESTIGATES ALL REPORTS OF CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 THE CEO'S COMPENSATION IS DETERMINED BY THE CREDIT UNION'S BOARD OF DIRECTORS. HUMAN RESOURCES SUPPLIES MULTIPLE THIRD PARTY MARKET SURVEY RESULTS FOR THEIR COMPARABILITY DATA. TOP MANAGEMENT COMPENSATION IS DETERMINED BY THE CEO AND EMT AND UTILIZES MULTIPLE THIRD-PARTY MARKET SURVEY RESULTS FOR COMPARABILITY DATA. OTHER KEY EMPLOYEE COMPENSATION IS DETERMINED BY SENIOR MANAGMENT TEAM (SMT)/EMT LEADERS AND UTILIZE MULTIPLE THIRD PARTY MARKET SURVEY RESULTS FOR COMPARABILITY DATA. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE PUBLISHED MONTHLY. ALL OTHER DOCUMENTS AND POLICIES ARE AVAILABLE FOR REVIEW UPON REQUEST. FORM 990, PART IX, LINE 24E LOAN SERVICING 2,114,239. MISCELLANEOUS 1,372,495. OREO EXPENSE 4,087. FORM 990, PART XI, LINE 9: AMORTIZATION OF NET GAINS/(LOSSES) IN CONNECTION WITH POST-RETIREMENT HEALTH BENEFIT PLAN -424,374. AMORTIZATION OF NET GAINS/(LOSSES) IN CONNECTION WITH DEFINED BENEFIT PENSION PLAN 2,367,402. CUMULATIVE EFFECT FROM CHANGE IN ACCOUNTING PRINCIPLE -19,199,874. FORM 990, PART XII, LINE 2C: THERE WERE NO CHANGES IN THE PROCESS OF THE COMMITTEE THAT ASSUMES RESPONSIBILITY OF THE OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITOR. DESERT FINANCIAL HOLDINGS LLC 148 N 48TH ST PHOENIX AZ 85034 851085185 HOLDING COMPANY AZ -30948 7865141 DESERT FINANCIAL CREDIT UNION DESERT FINANCIAL WEALTH SERVICES LLC 148 N 48TH ST PHOENIX AZ 85034 860946896 INVESTMENTS AND CONSULTING AZ 804179 134706 DESERT FINANCIAL HOLDINGS LLC SOUTHWEST COMMERCIAL PROPERTY 148 N 48TH ST PHOENIX AZ 85034 453465108 PROPERTY MANAGEMENT AZ 1185076 5817960 DESERT FINANCIAL HOLDINGS LLC SWITCHTHINK SOLUTIONS LLC 148 N 48TH ST PHOENIX AZ 85034 821355755 IT SERVICES AZ 7386197 6950332 DESERT FINANCIAL HOLDINGS LLC DEFINE MORTGAGE SOLUTIONS LLC 148 N 48TH ST PHOENIX AZ 85034 830668619 MORTGAGES AZ 7798771 49138668 DESERT FINANCIAL HOLDINGS LLC DESERT FINANCIAL FOUNDATION 148 N 48TH ST PHOENIX AZ 85034 811028132 FUND RAISING/CHAIRTABLE GIVING AZ 501(C)(3) LINE 7 DESERT FINANCIAL CREDIT UNION 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 DESERT FINANCIAL FOUNDATION B 204746 CASH AND NONCASH CONTRIBUTIONS DESERT FINANCIAL FOUNDATION O 140178 PERCENT OF SALARY