BAYPORT FEDERAL CREDIT UNION: Form 990, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- BAYPORT FEDERAL CREDIT UNION (EIN 54-0314180)
- Tax period
- 2023-01-01 to 2023-12-31
- Filed
- 2024-11-14
- IRS object ID
- 202443199349312364
- 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 | 2024-11-14T12:52:59-08:00 | ReturnTs |
| Tax Period End | 2023-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 830368487 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BOYCE SPADY & MOORE PLC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1013 W Washington Street | AddressLine1Txt |
| City | Suffolk | CityNm |
| State Abbreviation | VA | StateAbbreviationCd |
| ZIP | 23434 | 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 | 540314180 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BAYPORT CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | BAYP | BusinessNameControlTxt |
| Phone | 7579288850 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | ONE BAYPORT WAY 350 | AddressLine1Txt |
| City | NEWPORT NEWS | CityNm |
| State Abbreviation | VA | StateAbbreviationCd |
| ZIP | 23606 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | G LEWIS SMITH | PersonNm |
| Person Title | VP/FINANCE | PersonTitleTxt |
| Signature | 2024-11-14 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (true) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | Robert M Moore Jr | PreparerPersonNm |
| PTIN | P00063540 | PTIN |
| Phone | 7575392953 | PhoneNum |
| Self Employed | Yes (X) | SelfEmployedInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2024-10-15 13:58:12Z | BuildTS |
Form 990 IRS990
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | ONE BAYPORT WAY 350 | AddressLine1Txt |
| City | NEWPORT NEWS | CityNm |
| State Abbreviation | VA | StateAbbreviationCd |
| ZIP | 23606 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $154,288,278 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | www.bayportcu.org | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1928 | FormationYr |
| Legal Domicile State | VA | LegalDomicileStateCd |
| Activity Or Mission | THE CREDIT UNION PROVIDED AFFORDABLE LOANS TO OVER 16,000 MEMBERS DURING THE YEAR. MANY OF THE INDIVIDUALS WOULD NOT HAVE BEEN ABLE TO OBTAIN SUCH LOANS FROM OTHER FINANCIAL INSTITUTIONS. IN ADDITION, THE CREDIT UNION PROVIDED DEPOSITORY SERVICES TO MEMBERS PROVIDING BRANCHES, ON-LINE BANKING, FINANCIAL COUNSELING SERVICES, HOME BUYING AND RETIREMENT SEMINARS, FINANCIAL EDUCATION, SCHOLARSHIPS AND NUMEROUS OTHER RELATED SERVICES. THE CREDIT UNION'S MEMBERSHIP CONSISTS OF PRIMARILY INDIVIDUALS IN THE HAMPTON ROADS AREA AND INCLUDES MANY INDIVIDUALS GENERALLY NOT RECRUITED FOR SERVICES AT LARGER FINANCIAL INSTITUTIONS. | ActivityOrMissionDesc |
| Voting Members Governing Body | 11 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 11 | VotingMembersIndependentCnt |
| Total Employee | 625 | TotalEmployeeCnt |
| Total Volunteers | 11 | TotalVolunteersCnt |
| Total Gross UBI | -$462,771 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $220,771 | NetUnrelatedBusTxblIncmAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $106,387,526 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $137,164,934 | CYProgramServiceRevenueAmt |
| PY Investment Income | $8,308,354 | PYInvestmentIncomeAmt |
| CY Investment Income | $15,638,449 | CYInvestmentIncomeAmt |
| PY Other Revenue | -$332,198 | PYOtherRevenueAmt |
| CY Other Revenue | -$46,715 | CYOtherRevenueAmt |
| PY Total Revenue | $114,363,682 | PYTotalRevenueAmt |
| CY Total Revenue | $152,756,668 | CYTotalRevenueAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $39,541,223 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $43,231,083 | CYSalariesCompEmpBnftPaidAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $60,240,221 | PYOtherExpensesAmt |
| CY Other Expenses | $84,201,692 | CYOtherExpensesAmt |
| PY Total Expenses | $99,781,444 | PYTotalExpensesAmt |
| CY Total Expenses | $127,432,775 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $14,582,238 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $25,323,893 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $2,286,817,396 | TotalAssetsBOYAmt |
| Total Assets EOY | $2,365,294,400 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $2,092,334,993 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $2,137,524,830 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $194,482,403 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $227,769,570 | NetAssetsOrFundBalancesEOYAmt |
| Mission | TO PROVIDE AFFORDABLE FINANCIAL SERVICES TO ITS MEMBERS INCLUDING LOAN RELATIONSHIPS DEPOSITORY SERVICES CREDIT CARDS AND INTERNET BANKING AT CONVENIENT LOCATIONS BY PROFESSIONALS WHO PROVIDE EXCELLENT SERVICE | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Desc | TO PROVIDE AFFORDABLE LOANS TO OVER 16,000 MEMBERS DURING THE YEAR. MANY OF THE INDIVIDUALS WOULD NOT HAVE BEEN ABLE TO OBTAIN SUCH LOANS FROM OTHER FINANCIAL INSTITUTIONS. IN ADDITION, THE CREDIT UNION PROVIDED DEPOSITORY SERVICES TO MEMBERS PROVIDING BRANCHES, ON-LINE BANKING, FINANCIAL COUNSELING SERVICES, HOME BUYING AND RETIREMENT SEMINARS, FINANCIAL EDUCATION, SCHOLARSHIPS AND NUMEROUS OTHER RELATED SERVICES. THE CREDIT UNION'S MEMBERSHIP CONSISTS PRIMARILY OF INDIVUDALS IN THE HAMPTON ROADS AREA AND INCLUDES MANY INDIVIDUALS GENERALLY NOT RECRUITED FOR SERVICES AT LARGER FINANCIAL INSTITUTIONS. | Desc |
| Described In Section501c3 | false | DescribedInSection501c3Ind |
| Schedule B Required | false | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Subject To Proxy Tax | false | SubjectToProxyTaxInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Conservation Easements | false | ConservationEasementsInd |
| Collections Of Art | false | CollectionsOfArtInd |
| Credit Counseling | false | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | false | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (true) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | false | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | false | ReportProgramRelatedInvstInd |
| Report Other Assets | Yes (true) | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (true) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | false | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | false | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | false | ConsolidatedAuditFinclStmtInd |
| School Operating | false | SchoolOperatingInd |
| Foreign Office | false | ForeignOfficeInd |
| Foreign Activities | false | ForeignActivitiesInd |
| More Than5000 K To Org | false | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividualsInd |
| Professional Fundraising | false | ProfessionalFundraisingInd |
| Fundraising Activities | false | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | false | GrantsToOrganizationsInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Schedule J Required | Yes (true) | ScheduleJRequiredInd |
| Tax Exempt Bonds | false | TaxExemptBondsInd |
| Loan Outstanding | Yes (true) | LoanOutstandingInd |
| Grant To Related Person | false | GrantToRelatedPersonInd |
| Business Rln With Org Mem | false | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | false | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | false | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | false | DeductibleNonCashContriInd |
| Deductible Art Contribution | false | DeductibleArtContributionInd |
| Terminate Operations | false | TerminateOperationsInd |
| Partial Liquidation | false | PartialLiquidationInd |
| Disregarded Entity | false | DisregardedEntityInd |
| Related Entity | false | RelatedEntityInd |
| Related Organization Ctrl Ent | false | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| IRP Document | 34251 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (true) | BackupWthldComplianceInd |
| Employee | 625 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (true) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (true) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (true) | Form990TFiledInd |
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| Indoor Tanning Services | false | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | false | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | false | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 11 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 11 | IndependentVotingMemberCnt |
| Family Or Business Rln | false | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | false | DelegationOfMgmtDutiesInd |
| Change To Org Documents | false | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (true) | MembersOrStockholdersInd |
| Election Of Board Members | false | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | false | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (true) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (true) | MinutesOfCommitteesInd |
| Officer Mailing Address | false | OfficerMailingAddressInd |
| Local Chapters | Yes (true) | LocalChaptersInd |
| Policies Reference Chapters | Yes (true) | PoliciesReferenceChaptersInd |
| Form990 Provided To Gvrn Body | false | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (true) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | false | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | false | RegularMonitoringEnfrcInd |
| Whistleblower Policy | false | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (true) | DocumentRetentionPolicyInd |
| Compensation Process CEO | false | CompensationProcessCEOInd |
| Compensation Process Other | false | CompensationProcessOtherInd |
| Investment In Joint Venture | false | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | NANCY K POPE | PersonNm |
| Phone | 7578734030 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | ONE BAYPORT WAY | AddressLine1Txt |
| City | NEWPORT NEWS | CityNm |
| State Abbreviation | VA | StateAbbreviationCd |
| ZIP | 23606 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| No Listed Persons Compensated | Yes (X) | NoListedPersonsCompensatedInd |
Form990 Part VII Section A Form990PartVIISectionAGrp (21 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd |
|---|---|---|---|---|---|---|---|
| JAMES MEARS | |||||||
| PRESIDENT/CEO | 40.00 | 0.00 | $552,573 | $0 | $22,408 | ||
| STANLEY LEICESTER | |||||||
| EXECUTIVE VP | 40.00 | 0.00 | $394,784 | $0 | $0 | ||
| GODFREY SMITH | |||||||
| EXEC VP/CFO | 40.00 | 0.00 | $302,765 | $0 | $0 | ||
| JENNIFER COYNE | |||||||
| EXEC VP/COO | 40.00 | 0.00 | $290,656 | $0 | $0 | ||
| SUSAN FERNAAYS | |||||||
| CHIEF EXPERIENCE OFFICER | 40.00 | 0.00 | $243,462 | $0 | $0 | ||
| DENISE MCROBERTS | |||||||
| CHIEF INFO OFFICER | 40.00 | 0.00 | $243,171 | $0 | $0 | ||
| IRA WILLIAMS | |||||||
| CHIEF RETAIL OFF | 40.00 | 0.00 | $236,388 | $0 | $0 | ||
| WENDY BROWN | |||||||
| CHIEF HR OFFICER | 40.00 | 0.00 | $229,598 | $0 | $0 | ||
| NANCY PORTER | |||||||
| VP MARKETING | 40.00 | 0.00 | $212,325 | $0 | $0 | ||
| TONYA EDWARDS | |||||||
| VP BUSINESS BANKIN | 40.00 | 0.00 | $209,189 | $0 | $0 | ||
| PAMELA J ROWE | |||||||
| VICE CHAIRMAN | 0.00 | 0.00 | $0 | $0 | $0 | Yes (X) | Yes (X) |
| CRAIG HOLLEY JR | |||||||
| Director | 0.00 | 0.00 | $0 | $0 | $0 | Yes (X) | |
| SUZANNE M BECKSTOFFER | |||||||
| VICE CHAIRMAN | 0.00 | 0.00 | $0 | $0 | $0 | Yes (X) | Yes (X) |
| MAUREEN DAVIS | |||||||
| Chairman | 0.00 | 0.00 | $0 | $0 | $0 | Yes (X) | Yes (X) |
| MARY CULLEN | |||||||
| Director | 0.00 | 0.00 | $0 | $0 | $0 | Yes (X) | |
| LEMESHIA STEELE | |||||||
| Director | 0.00 | 0.00 | $0 | $0 | $0 | Yes (X) | |
| JENNIFER M MILLER | |||||||
| Secretary/Treas | 0.00 | 0.00 | $0 | $0 | $0 | Yes (X) | Yes (X) |
| RAY C BAGLEY | |||||||
| Asst Secretary | 0.00 | 0.00 | $0 | $0 | $0 | Yes (X) | Yes (X) |
| GEORGE C WIATT JR | |||||||
| Director | 0.00 | 0.00 | $0 | $0 | $0 | Yes (X) | |
| DINETTA D HILL | |||||||
| Director | 0.00 | 0.00 | $0 | $0 | $0 | Yes (X) | |
| THOMASINA R WRIGHT | |||||||
| Director | 0.00 | 0.00 | $0 | $0 | $0 | Yes (X) | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $2,914,911 | TotalReportableCompFromOrgAmt |
| Total Other Compensation | $22,408 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 43 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | false | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (true) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| NORTH RIVER CONSTRUCTION LLC | |||||
| PO BOX 97 | WARE NECK | VA | 23178 | CONSTRUCTION | $1,321,755 |
| SIRIUS COMPUTER SOLUTIONS INC | |||||
| PO BOX 202289 | DALLAS | TX | 75320 | COMPUTER SERVICES | $828,906 |
| SUMMS SKIP & COLLECTION SERVICE | |||||
| 2616 QUALITY CT | VIRGINIA BEACH | VA | 23454 | COLLECTION SERVICE | $649,000 |
| DOVENMUEHLE MORTGAGE SERVICER | |||||
| 1 CORPORATE DRIVE | LAKE ZURICH | IL | 60047 | MORTGAGE SERVICE | $514,419 |
| LOOMIS | |||||
| DEPT CH 10500 | PALATINE | IL | 60055 | BANKING SERVICE | $503,542 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 29 | CntrctRcvdGreaterThan100KCnt |
| Total Contributions | $0 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| FEES AND CHARGES | 522100 | $13,204,129 | $13,204,129 |
| LOAN INTEREST | 522100 | $99,329,787 | $99,329,787 |
| MISCELLANEOUS | 522100 | $24,631,018 | $24,631,018 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $137,164,934 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $15,638,449 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $15,638,449 | RelatedOrExemptFuncIncomeAmt |
Incm From Invest Bond Proceeds IncmFromInvestBondProceedsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Royalties Revenue RoyaltiesRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $1,068,839 | RealAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $1,531,610 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | -$462,771 | RealAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$462,771 | TotalRevenueColumnAmt |
| Unrelated Business Revenue | -$462,771 | UnrelatedBusinessRevenueAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Net Income From Gaming NetIncomeFromGamingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Net Income Or Loss NetIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | NON-OPERATING INC/EXP | Desc |
| Total Revenue Column | $416,056 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $416,056 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $416,056 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $152,756,668 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $153,219,439 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | -$462,771 | UnrelatedBusinessRevenueAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Foreign Grants ForeignGrantsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,806,648 | TotalAmt |
Comp Disqual Persons CompDisqualPersonsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $29,486,003 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $11,938,432 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Services Management FeesForServicesManagementGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Services Lobbying FeesForServicesLobbyingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Services Prof Fundraising FeesForServicesProfFundraising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Royalties RoyaltiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,805,711 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $984,331 | TotalAmt |
Pymt Travel Entrtnmnt Pub Ofcl PymtTravelEntrtnmntPubOfclGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,796,455 | TotalAmt |
Payments To Affiliates PaymentsToAffiliatesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| INTREST ON MEMBERS' ACCOUNTS | $29,395,764 |
| ACCOUNT SERVICING | $19,755,153 |
| OFFICE | $12,538,434 |
| PROVISION FOR LOAN LOSSES | $4,273,400 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,652,444 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $127,432,775 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $35,571,213 | BOYAmt |
| EOY | $29,269,462 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $0 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $0 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $0 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $0 | EOYAmt |
Rcvbl From Disqualified Prsn RcvblFromDisqualifiedPrsnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $0 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $421,154,508 | BOYAmt |
| EOY | $402,855,282 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $0 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,589,838 | BOYAmt |
| EOY | $5,620,642 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $113,457,695 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $56,204,009 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $59,088,631 | BOYAmt |
| EOY | $57,253,686 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $0 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $0 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $0 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $0 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,768,413,206 | BOYAmt |
| EOY | $1,870,295,328 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,286,817,396 | BOYAmt |
| EOY | $2,365,294,400 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $24,269,616 | BOYAmt |
| EOY | $16,961,494 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $69,000,000 | BOYAmt |
| EOY | $115,000,000 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,999,065,377 | BOYAmt |
| EOY | $2,005,563,336 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,092,334,993 | BOYAmt |
| EOY | $2,137,524,830 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $194,482,403 | BOYAmt |
| EOY | $227,769,570 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $194,482,403 | BOYAmt |
| EOY | $227,769,570 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,286,817,396 | BOYAmt |
| EOY | $2,365,294,400 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $25,323,893 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $7,963,274 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | false | AccountantCompileOrReviewInd |
| FS Audited | Yes (true) | 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 (true) | AuditCommitteeInd |
| Federal Grant Audit Required | false | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $113,457,695 | OtherCostOrOtherBasisAmt |
| Depreciation | $56,204,009 | DepreciationAmt |
| Book Value | $57,253,686 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $57,253,686 | TotalBookValueLandBuildingsAmt |
Other Assets Org OtherAssetsOrgGrp (6 entries)
| DescDesc | Book ValueBookValueAmt |
|---|---|
| ACCRUED INCOME | $7,152,844 |
| AUTO LOANS | $677,297,445 |
| LOANS - ALLOWANCE FOR LOAN LOSSES | -$40,998,269 |
| LOANS-REAL ESTATE | $663,831,408 |
| OTHER ASSETS | $55,313,834 |
| OTHER RECEIVABLES | $27,530,977 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $1,870,295,328 | TotalBookValueOtherAssetsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (6 entries)
| DescDesc | AmtAmt |
|---|---|
| BUSINESS SHARES | $103,283,393 |
| CHECKING SHARES | $334,555,863 |
| MEMBER CERTIFICATES | $536,815,365 |
| OTHER LIABILITIES | $4,009,479 |
| OTHER SHARES | $605,109,045 |
| REGULAR SHARES | $421,790,191 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $2,005,563,336 | TotalLiabilityAmt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Severance Payment | false | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | false | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | false | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (10 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt |
|---|---|---|---|---|---|
| DENISE MCROBERTS | |||||
| CHIEF INFO OFFICER | $222,646 | $19,773 | $752 | $243,171 | |
| GODFREY SMITH | |||||
| EXEC VP/CFO | $235,661 | $16,606 | $50,498 | $302,765 | |
| IRA WILLIAMS | |||||
| CHIEF RETAIL OFF | $219,275 | $17,113 | $236,388 | ||
| JAMES MEARS | |||||
| PRESIDENT/CEO | $451,641 | $87,616 | $13,316 | $574,981 | $22,408 |
| JENNIFER COYNE | |||||
| EXEC VP/COO | $227,567 | $16,606 | $46,483 | $290,656 | |
| NANCY PORTER | |||||
| VP MARKETING | $198,892 | $13,433 | $212,325 | ||
| STANLEY LEICESTER | |||||
| EXECUTIVE VP | $335,643 | $40,004 | $19,137 | $394,784 | |
| SUSAN FERNAAYS | |||||
| CHIEF EXPERIENCE OFFICER | $222,591 | $20,871 | $243,462 | ||
| TONYA EDWARDS | |||||
| VP BUSINESS BANKIN | $195,766 | $13,423 | $209,189 | ||
| WENDY BROWN | |||||
| CHIEF HR OFFICER | $211,597 | $16,769 | $1,232 | $229,598 | |
Schedule L IRS990ScheduleL
Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp (15 entries)
| Relationship With OrgRelationshipWithOrgTxt | Loan PurposeLoanPurposeTxt | Loan From OrganizationLoanFromOrganizationInd | Original PrincipalOriginalPrincipalAmt | Balance DueBalanceDueAmt | DefaultDefaultInd | Board Or Committee ApprovalBoardOrCommitteeApprovalInd | Written AgreementWrittenAgreementInd |
|---|---|---|---|---|---|---|---|
| STANLEY LEICESTER | |||||||
| EMPLOYEE | LOANS | Yes (X) | $1,694,100 | $1,327,551 | false | Yes (true) | Yes (true) |
| DENISE MCROBERTS | |||||||
| EMPLOYEE | LOANS | Yes (X) | $470,000 | $421,149 | false | Yes (true) | Yes (true) |
| IRA WILLIAMS | |||||||
| EMPLOYEE | LOANS | Yes (X) | $692,850 | $421,100 | false | Yes (true) | Yes (true) |
| JAMES MEARS | |||||||
| EMPLOYEE | LOANS | Yes (X) | $918,525 | $490,101 | false | Yes (true) | Yes (true) |
| TONYA EDWARDS | |||||||
| EMPLOYEE | LOAN | Yes (X) | $771,000 | $703,612 | false | Yes (true) | Yes (true) |
| GODFREY SMITH | |||||||
| EMPLOYEE | LOANS | Yes (X) | $315,000 | $295,366 | false | Yes (true) | Yes (true) |
| GEORGE WIATT | |||||||
| BOARD | LOANS | Yes (X) | $275,400 | $160 | false | Yes (true) | Yes (true) |
| MARY CULLEN | |||||||
| BOARD | LOAN | Yes (X) | $30,000 | $7,170 | false | Yes (true) | Yes (true) |
| MAUREEN DAVIS | |||||||
| BOARD | LOAN | Yes (X) | $25,000 | $3,400 | false | Yes (true) | Yes (true) |
| PAMELA ROWE | |||||||
| BOARD | LOAN | Yes (X) | $90,000 | $149 | false | Yes (true) | Yes (true) |
| THOMASINA WRIGHT | |||||||
| BOARD | LOANS | Yes (X) | $2,402,500 | $1,658,148 | false | Yes (true) | Yes (true) |
| JENNIFER COYNE | |||||||
| EMPLOYEE | LOAN | Yes (X) | $746,824 | $702,856 | false | Yes (true) | Yes (true) |
| SUZANNE BECKSTOFFER | |||||||
| BOARD | LOANS | Yes (X) | $306,500 | $140,610 | false | Yes (true) | Yes (true) |
| DINETTA HILL | |||||||
| BOARD | LOAN | Yes (X) | $54,217 | $43,026 | false | Yes (true) | Yes (true) |
| WENDY BROWN | |||||||
| EMPLOYEE | LOAN | Yes (X) | $225,500 | $207,874 | false | Yes (true) | Yes (true) |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | $6,422,272 | TotalBalanceDueAmt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (5 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Form 990, Part VI, Section B, Line 11b | THE CREDIT UNION GATHERS THE INFORMATION NECESSARY TO COMPLETE THE RETURN AND FORWARDS SUCH INFORMATION AND ANY OTHER INFORMATION REQUESTED BY ITS ACCOUNTING FIRM TO ITS ACCOUNTING FIRM. UPON COMPLETION OF THE RETURN, THE CREDIT UNION REVIEWS THE RETURN AND CONSULTS WITH ACCOUNTING FIRM BEFORE FILING. |
| Form 990, Part VI, Section C, Line 19 | AVAILABLE UPON REQUEST |
| Form 990, Part XI, Line 9 | ADOPTION OF NEW CECL STANDARD = -$20405235 |
| Form 990, Part XI, Line 9 | OTHER COMPREHENSIVE INCOME = $28368509 |
| Statement Note 1 | BAYPORT CREDIT UNION RESPECTFULLY FILES THIS TAX RETURN UNDER PROTEST.IT IS OUR POSITION THAT ALL UNRELATED BUSINESS INCOME AND EXPENSES, AS INDICATED IN THIS TAX RETURN, IS DIRECTLY RELATED TO THE EXEMPT ACTIVITIES OF THE CREDIT UNION. ACCORDINGLY, WE DISAGREE WITH THE POSITIONS TAKEN BY THE INTERNAL REVENUE SERVICE IN 2007 TECHNICAL ADVICE MEMORANDUMS, REQUIRING THE FILING OF FORM 990-T. THESE SERVICES SUPPORT AND ENHANCE OTHER FINANCIAL SERVICES OFFERED BY THE CREDIT UNION TO ITS MEMBERS. |
Comments