CREDIT UNIONS IN THE STATE OF CALIFORNIA: Form 990, tax year 2022
View the entire original 990 at ProPublica ↗
- Organization
- CREDIT UNIONS IN THE STATE OF CALIFORNIA (EIN 95-2513485)
- Tax period
- 2022-01-01 to 2022-12-31
- Filed
- 2023-10-03
- IRS object ID
- 202302769349301715
- Schema version
- 2022v5.0
- 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 | 2023-10-03T16:13:33-05:00 | ReturnTs |
| Tax Period End | 2022-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 954083485 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | TURNER WARREN HWANG & CONRAD ACCTCY | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 100 NORTH FIRST ST STE 202 | AddressLine1Txt |
| City | BURBANK | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 91502 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2022-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 952513485 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FIRST ENTERTAINMENT CREDIT UNION | BusinessNameLine1Txt |
| Business Name Line2 | FKA CREDIT UNIONS IN THE STATE OF CA | BusinessNameLine2Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | FIRS | BusinessNameControlTxt |
| Phone | 8888003328 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 6735 FOREST LAWN DRIVE 300 | AddressLine1Txt |
| City | HOLLYWOOD | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 90068 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | KEN KRAMER | PersonNm |
| Person Title | SVP/CFO | PersonTitleTxt |
| Phone | 8888003328 | PhoneNum |
| Signature | 2023-09-27 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | KEN | PersonFirstNm |
| Person Last | KRAMER | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (1) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | VALENTINO CREUS CPA | PreparerPersonNm |
| PTIN | P01054153 | PTIN |
| Phone | 8189549700 | PhoneNum |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 2 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2022 | TaxYr |
| Build TS | 2023-04-26 12:10:37Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | STEPHEN OWEN | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 6735 FOREST LAWN DRIVE 300 | AddressLine1Txt |
| City | HOLLYWOOD | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 90068 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $79,577,972 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.FIRSTENT.ORG | WebsiteAddressTxt |
| Type Of Organization Other | Yes (X) | TypeOfOrganizationOtherInd |
| Other Organization Dsc | CREDIT UNION | OtherOrganizationDsc |
| Formation | 1967 | FormationYr |
| Legal Domicile State | CA | LegalDomicileStateCd |
| Activity Or Mission | A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. | ActivityOrMissionDesc |
| Voting Members Governing Body | 11 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 11 | VotingMembersIndependentCnt |
| Total Employee | 326 | TotalEmployeeCnt |
| Total Volunteers | 17 | TotalVolunteersCnt |
| Total Gross UBI | $91,573 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $65,174,656 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $68,803,190 | CYProgramServiceRevenueAmt |
| PY Investment Income | $8,266,355 | PYInvestmentIncomeAmt |
| CY Investment Income | $10,311,587 | CYInvestmentIncomeAmt |
| PY Other Revenue | $260,390 | PYOtherRevenueAmt |
| CY Other Revenue | $278,034 | CYOtherRevenueAmt |
| PY Total Revenue | $73,701,401 | PYTotalRevenueAmt |
| CY Total Revenue | $79,392,811 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $27,154 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $28,111,795 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $31,003,120 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $28,410,712 | PYOtherExpensesAmt |
| CY Other Expenses | $30,599,847 | CYOtherExpensesAmt |
| PY Total Expenses | $56,522,507 | PYTotalExpensesAmt |
| CY Total Expenses | $61,630,121 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $17,178,894 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $17,762,690 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $2,107,643,635 | TotalAssetsBOYAmt |
| Total Assets EOY | $2,110,364,195 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $1,947,481,652 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $1,987,866,526 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $160,161,983 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $122,497,669 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | FIRST ENTERTAINMENT CREDIT UNION IS A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS, CREATING A SOURCE OF CREDIT FOR THEM AT RATES OF INTEREST SET BY THE BOARD OF DIRECTORS, AND PROVIDING AN OPPORTUNITY FOR THEM TO USE AND CONTROL THEIR OWN MONEY ON A DEMOCRATIC BASIS IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS. AS A COOPERATIVE, FIRST ENTERTAINMENT CREDIT UNION CONDUCTS ITS BUSINESS FOR THE MUTUAL BENEFIT AND GENERAL WELFARE OF ITS MEMBERS WITH THE EARNINGS, SAVINGS, BENEFITS, OR SERVICES OF THE CREDIT UNION BEING DISTRIBUTED TO ITS MEMBERS AS PATRONS. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | FIRST ENTERTAINMENT CREDIT UNION OFFERS ITS MEMBERS A VARIETY OF SAVINGS PROGRAMS INCLUDING CHECKING ACCOUNTS, MONEY MARKET ACCOUNTS, TERM SAVINGS CERTIFICATES, AND IRAS. ADDITIONALLY, THE CREDIT UNION OFFERS BUSINESS CHECKING AND MONEY MARKET ACCOUNTS. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | FIRST ENTERTAINMENT CREDIT UNION MEMBERS HAVE ACCESS TO A VARIETY OF LOAN PRODUCTS INCLUDING PERSONAL AND AUTO LOANS AND A COMPREHENSIVE PORTFOLIO OF REAL ESTATE LOANS. ADDITIONALLY, THE CREDIT UNION OFFERS A COMPLETE SUITE OF COMMERCIAL REAL ESTATE AS WELL AS COMMERCIAL AND INDUSTRIAL LOANS TO SERVICE BUSINESS LENDING NEEDS. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | FIRST ENTERTAINMENT CREDIT UNION MEMBERS ENJOY FREE ONLINE ACCOUNT ACCESS AS WELL AS A VARIETY OF ADDITIONAL MEMBER-ONLY BENEFITS. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | Yes (1) | 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 | 0 | 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 | 0 | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (1) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | 0 | TransactionWithControlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 27215 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 326 | 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 | Yes (1) | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | 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 | 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 | Yes (1) | LocalChaptersInd |
| Policies Reference Chapters | Yes (1) | PoliciesReferenceChaptersInd |
| 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 | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | CA | StatesWhereCopyOfReturnIsFldCd |
| Other Website | Yes (X) | OtherWebsiteInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LARRY GRAGER VP FINANCE | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 3234364203 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 6735 FOREST LAWN DRIVE SUITE 300 | AddressLine1Txt |
| City | HOLLYWOOD | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 90068 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (23 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| HOWARD WELINSKY | ||||||||
| BOARD CHAIR | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| STEPHEN RAYNES | ||||||||
| BOARD VICE-CHAIR | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| IRWIN JACOBSON | ||||||||
| TREASURER | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| PATRICK WALTERS | ||||||||
| SECRETARY | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| GARI ANN DOUGLASS | ||||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| SAKAE MANNING | ||||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| JEFF MIRKIN | ||||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| MICHAEL EDWARDS | ||||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| TED SCHILOWITZ | ||||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| LAURA VALAN | ||||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| JAMES HERR | ||||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| STEPHEN OWEN | ||||||||
| PRESIDENT/CEO | 40.00 | $544,154 | $0 | $20,767 | Yes (X) | |||
| LISA LANDT FORMER | ||||||||
| FORMER PRESIDENT/CEO | 40.00 | $1,195,277 | $0 | $35,724 | Yes (X) | |||
| CHARLES BRUEN | ||||||||
| INTERM PRESIDENT/CEO | 40.00 | $163,931 | $0 | $0 | Yes (X) | |||
| KENNETH KRAMER | ||||||||
| SVP/CFO | 40.00 | $345,510 | $0 | $35,724 | Yes (X) | |||
| ADRIANA ALLISON | ||||||||
| SVP/CXO | 40.00 | $434,759 | $0 | $45,661 | Yes (X) | |||
| THOMAS E ORMAN | ||||||||
| SVP/CLO | 40.00 | $370,927 | $0 | $22,924 | Yes (X) | |||
| JONATHAN PARTRIDGE | ||||||||
| SVP/CIO | 40.00 | $165,628 | $0 | $4,141 | Yes (X) | |||
| NAS BIRMINGHAM FORMER | ||||||||
| VP DIGITAL PRODUCT & BUSINESS SYSTEMS | 40.00 | $286,059 | $0 | $30,935 | Yes (X) | |||
| WILLIAM H WALKER | ||||||||
| VP REAL ESTATE LENDING | 40.00 | $280,455 | $0 | $32,878 | Yes (X) | |||
| MATTHEW A KENNEDY | ||||||||
| COMM BUSINESS DEVELOPMENT OFFICER | 40.00 | $266,403 | $0 | $47,441 | Yes (X) | |||
| JAMES MARCELLINO | ||||||||
| VP OPERATIONS | 40.00 | $264,013 | $0 | $28,899 | Yes (X) | |||
| JENNIFER JORDAN | ||||||||
| VP RISK MANAGEMENT & GENERAL COUNSEL | 40.00 | $235,689 | $0 | $7,108 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $4,552,805 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $312,202 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 25 | 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 |
|---|---|---|---|---|---|
| KURT W KAMPE III | |||||
| PO BOX 220217 | SANTA CLARITA | CA | 913220217 | LEGAL SERVICES | $486,448 |
| ALLIED UNIVERSAL SECURITY SERVICES | |||||
| PO BOX 31001-2374 | PASADENA | CA | 911102374 | SECURITY SERVICES | $410,750 |
| LAGUNA CLIFFS MARRIOTT RESORT & SPA | |||||
| 25135 PARK LANTERN | DANA POINT | CA | 92629 | RESORT - LRP VENUE | $192,102 |
| MB INTERIM LEADERS LLC | |||||
| 2 VENTURE SUITE 100 | IRVINE | CA | 92618 | TEMPORARY EMPLOYEES AGENCY | $133,560 |
| RSM US LLP | |||||
| 5155 PAYSPHERE CIRCLE | CHICAGO | IL | 60674 | CONSULTING | $123,439 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 7 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| INTEREST ON LOANS | 522100 | $50,337,640 | $50,337,640 | |
| OTHER OPERATING INCOME | 522100 | $12,477,640 | $12,434,486 | $43,154 |
| FEE INCOME | 522100 | $5,987,910 | $5,939,491 | $48,419 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $68,803,190 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $10,320,984 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $10,320,984 | RelatedOrExemptFuncIncomeAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $5,698 | SecuritiesAmt |
| Other | $170,066 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $153,676 | SecuritiesAmt |
| Other | $31,485 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | -$147,978 | SecuritiesAmt |
| Other | $138,581 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$9,397 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | -$9,397 | RelatedOrExemptFuncIncomeAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | OTHER NON-INTEREST INC | Desc |
| Business | 522100 | BusinessCd |
| Total Revenue Column | $278,034 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $278,034 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $278,034 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $79,392,811 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $79,301,238 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $91,573 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $27,154 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,552,805 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $21,043,509 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,446,089 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,199,231 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,761,486 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $221,152 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $125,249 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,607,035 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $751,188 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,976,424 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,298,635 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,295,755 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $526,356 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,923,381 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,474,337 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $177,590 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| PROVISION FOR LOAN & LE | $2,181,870 |
| LOAN SERVICING EXPENSE | $2,166,655 |
| MISCELLANEOUS EXPENSES | $1,187,855 |
| ATM EXPENSES | $260,224 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $426,141 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $61,630,121 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $13,091,769 | BOYAmt |
| EOY | $15,832,954 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $150,236,195 | BOYAmt |
| EOY | $79,198,543 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,754,737 | BOYAmt |
| EOY | $2,974,990 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,583,696 | BOYAmt |
| EOY | $2,893,546 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $26,928,785 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $20,586,901 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,408,709 | BOYAmt |
| EOY | $6,341,884 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $664,963,173 | BOYAmt |
| EOY | $528,403,553 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,233,661,323 | BOYAmt |
| EOY | $1,443,362,957 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $27,944,033 | BOYAmt |
| EOY | $31,355,768 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,107,643,635 | BOYAmt |
| EOY | $2,110,364,195 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $18,139,864 | BOYAmt |
| EOY | $22,371,023 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,929,341,788 | BOYAmt |
| EOY | $1,965,495,503 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,947,481,652 | BOYAmt |
| EOY | $1,987,866,526 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $160,161,983 | BOYAmt |
| EOY | $122,497,669 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $160,161,983 | BOYAmt |
| EOY | $122,497,669 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,107,643,635 | BOYAmt |
| EOY | $2,110,364,195 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $17,762,690 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$55,427,004 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $0 | 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 C IRS990ScheduleC
| Field | Value | IRS element (for citing) |
|---|---|---|
| Political Expenditures | $12,000 | PoliticalExpendituresAmt |
| Expended527 Activities | $12,000 | Expended527ActivitiesAmt |
| Total Exempt Function Expend | $12,000 | TotalExemptFunctionExpendAmt |
| Form1120 POL Filed | Yes (1) | Form1120POLFiledInd |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,097,000 | OtherCostOrOtherBasisAmt |
| Book Value | $1,097,000 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $9,257,854 | OtherCostOrOtherBasisAmt |
| Depreciation | $6,488,578 | DepreciationAmt |
| Book Value | $2,769,276 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $8,226,023 | OtherCostOrOtherBasisAmt |
| Depreciation | $6,528,939 | DepreciationAmt |
| Book Value | $1,697,084 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $8,347,908 | OtherCostOrOtherBasisAmt |
| Depreciation | $7,569,384 | DepreciationAmt |
| Book Value | $778,524 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $6,341,884 | TotalBookValueLandBuildingsAmt |
Invst Program Related Org InvstProgramRelatedOrgGrp (4 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| LOANS AND LEASES | $1,409,872,334 | F |
| NCUA SHARE INSURANCE CAPITALIZATION DEPOSIT | $18,693,924 | F |
| ALL OTHER INVESTMENTS | $13,569,800 | F |
| MORTGAGE SERVICING ASSETS | $1,226,899 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Program Rltd | $1,443,362,957 | TotalBookValueProgramRltdAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)
| DescDesc | AmtAmt |
|---|---|
| MEMBER DEPOSITS | $1,925,495,503 |
| BORROWINGS | $40,000,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $1,965,495,503 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART X, LINE 2: | FormAndLineReferenceDesc |
| Explanation | FASB ASC 740-10-65, INCOME TAXES, PROVIDES GUIDANCE FOR HOW UNCERTAIN TAX POSITIONS SHOULD BE RECOGNIZED, MEASURED, DISCLOSED AND PRESENTED IN THE CONSOLIDATED FINANCIAL STATEMENTS. THIS REQUIRES THE EVALUATION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN THE COURSE OF PREPARING THE CREDIT UNION'S TAX RETURNS TO DETERMINE WHETHER THE TAX POSITIONS ARE "MORE LIKELY THAN NOT" OF BEING SUSTAINED "WHEN CHALLENGED OR "WHEN EXAMINED" BY THE APPLICABLE TAX AUTHORITY. TAX POSITIONS DEEMED TO NOT MEET THE MORE-LIKELY-THAN-NOT THRESHOLD SHOULD BE RECORDED AS A TAX EXPENSE AND LIABILITY IN THE CURRENT YEAR. FOR THE YEAR ENDED SEPTEMBER 30, 2022, MANAGEMENT HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS, AND ACCORDINGLY, THE CREDIT UNION HAS NOT RECORDED A LIABILITY FOR THE PAYMENT OF INTEREST OR PENALTIES. STATE TAXES, IF APPLICABLE, ARE PAID ON INCOME EARNED BY THE CREDIT UNION IN CALIFORNIA. THE CREDIT UNION IS SUBJECT TO AND PAYS ALL STATE AND CITY TAXES ON GOODS AND SERVICES PURCHASED BY THE CREDIT UNION. | ExplanationTxt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | 0 | GrantRecordsMaintainedInd |
Recipient Table RecipientTable
Recipient Business Name RecipientBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CHILDREN'S MIRACLE NETWORK HOSPITAL | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1351 HARTER PARKWAY | AddressLine1Txt |
| City | YUBA CITY | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 95993 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Recipient EIN | 870387205 | RecipientEIN |
| IRC Section | 501(C)(3) | IRCSectionDesc |
| Cash Grant | $7,799 | CashGrantAmt |
| Non Cash Assistance | $0 | NonCashAssistanceAmt |
| Valuation Method Used | FMV | ValuationMethodUsedDesc |
| Purpose Of Grant | TO PROVIDE THE BEST CARE FOR KIDS IN CHILDREN'S HOSPITALS | PurposeOfGrantTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (1) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (12 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| STEPHEN OWEN | ||||||||||||||
| PRESIDENT/CEO | $408,161 | $0 | $100,000 | $0 | $35,993 | $0 | $8,550 | $0 | $12,217 | $0 | $564,921 | $0 | $0 | $0 |
| LISA LANDT FORMER | ||||||||||||||
| FORMER PRESIDENT/CEO | $424,030 | $0 | $150,000 | $0 | $621,247 | $0 | $8,550 | $0 | $27,174 | $0 | $1,231,001 | $0 | $0 | $0 |
| CHARLES BRUEN | ||||||||||||||
| INTERM PRESIDENT/CEO | $163,931 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $163,931 | $0 | $0 | $0 |
| KENNETH KRAMER | ||||||||||||||
| SVP/CFO | $283,174 | $0 | $42,460 | $0 | $19,876 | $0 | $8,550 | $0 | $27,174 | $0 | $381,234 | $0 | $0 | $0 |
| ADRIANA ALLISON | ||||||||||||||
| SVP/CXO | $260,122 | $0 | $40,567 | $0 | $134,070 | $0 | $6,533 | $0 | $39,128 | $0 | $480,420 | $0 | $0 | $0 |
| THOMAS E ORMAN | ||||||||||||||
| SVP/CLO | $280,877 | $0 | $42,152 | $0 | $47,898 | $0 | $8,550 | $0 | $14,374 | $0 | $393,851 | $0 | $0 | $0 |
| JONATHAN PARTRIDGE | ||||||||||||||
| SVP/CIO | $85,061 | $0 | $30,000 | $0 | $50,567 | $0 | $0 | $0 | $4,141 | $0 | $169,769 | $0 | $0 | $0 |
| NAS BIRMINGHAM FORMER | ||||||||||||||
| VP DIGITAL PRODUCT & BUSINESS SYSTEM | $156,090 | $0 | $28,771 | $0 | $101,198 | $0 | $3,761 | $0 | $27,174 | $0 | $316,994 | $0 | $0 | $0 |
| WILLIAM H WALKER | ||||||||||||||
| VP REAL ESTATE LENDING | $208,170 | $0 | $29,860 | $0 | $42,425 | $0 | $5,704 | $0 | $27,174 | $0 | $313,333 | $0 | $0 | $0 |
| MATTHEW A KENNEDY | ||||||||||||||
| COMM BUSINESS DEVELOPMENT OFFICER | $97,547 | $0 | $155,494 | $0 | $13,362 | $0 | $8,313 | $0 | $39,128 | $0 | $313,844 | $0 | $0 | $0 |
| JAMES MARCELLINO | ||||||||||||||
| VP OPERATIONS | $207,894 | $0 | $32,147 | $0 | $23,972 | $0 | $8,061 | $0 | $20,838 | $0 | $292,912 | $0 | $0 | $0 |
| JENNIFER JORDAN | ||||||||||||||
| VP RISK MANAGEMENT & GENERAL COUNSEL | $197,519 | $0 | $28,589 | $0 | $9,581 | $0 | $7,108 | $0 | $0 | $0 | $242,797 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 4B | FormAndLineReferenceDesc |
| Explanation | THE CREDIT UNION OFFERS A NONQUALIFIED RETIREMENT, 457(F) PLAN. THE PLAN IS UNFUNDED, THEREFORE BENEFITS ARE PAID FROM THE GENERAL ASSETS OF THE CREDIT UNION. LISA LANDT AND ADDIE ALLISON WERE PARTICIPANTS AS OF DECEMBER 31, 2022. THE CREDIT UNION PREVIOUSLY MAINTAINED A COLLATERAL ASSIGNMENT SPLIT-DOLLAR AGREEMENT WITH A FORMER CREDIT UNION EXECUTIVE. UNDER THE ARRANGEMENT, THE CREDIT UNION MADE A LOAN TO THE EXECUTIVE EQUAL TO THE LIFE INSURANCE POLICY PREMIUMS. THE EXECUTIVE ASSIGNED THE INSURANCE POLICY TO THE CREDIT UNION AS COLLATERAL FOR REPAYING THE PREMIUMS AND BORROWED FROM THE POLICY TO SUPPLEMENT RETIREMENT INCOME. THE FORMER EXECUTIVE TRANSFERRED OWNERSHIP OF THE LIFE INSURANCE POLICY TO THE CREDIT UNION IN FEBRUARY 2022. THE BALANCE OF THE LOAN RECEIVABLE AT THE TIME OF TRANSFER WAS $4,246,607 AND THE CASH SURRENDER VALUE OF THE POLICY WAS $3,753,638. THE FORMER EXECUTIVE'S CURRENT EMPLOYER AGREED TO PAY THE CREDIT UNION THE $492,969 DIFFERENCE BETWEEN THE LOAN RECEIVABLE AND CASH SURRENDER VALUE, WHICH WAS RECOGNIZED AS A GAIN IN OTHER NON-INTEREST INCOME. THE LIFE INSURANCE POLICY IS RECOGNIZED IN OTHER ASSETS AS A CREDIT UNION OWNED LIFE INSURANCE POLICY WITH A CASH SURRENDER VALUE OF $3,673,519 AS OF SEPTEMBER 30, 2022. AS OF SEPTEMBER 30, 2021, THE BALANCE OF THE LOAN TO THE EXECUTIVE UNDER THIS ARRANGEMENT WAS $3,813,176. THE LOAN WAS SECURED BY A LIFE INSURANCE POLICY ISSUED BY MINNESOTA LIFE INSURANCE COMPANY, RATED A+ (SUPERIOR) BY A.M. BEST COMPANY, AN INSURANCE INDUSTRY RATING AGENCY. | ExplanationTxt |
Schedule L IRS990ScheduleL
Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp (4 entries)
| Relationship With OrgRelationshipWithOrgTxt | Loan PurposeLoanPurposeTxt | Loan From OrganizationLoanFromOrganizationInd | Original PrincipalOriginalPrincipalAmt | Balance DueBalanceDueAmt | DefaultDefaultInd | Board Or Committee ApprovalBoardOrCommitteeApprovalInd | Written AgreementWrittenAgreementInd |
|---|---|---|---|---|---|---|---|
| STEPHEN OWEN | |||||||
| OFFICER | MORTGAGE | Yes (X) | $2,259,996 | $2,238,357 | 0 | Yes (1) | Yes (1) |
| ADDIE ALLISON | |||||||
| KEY EMPLOYEE | HELOC | Yes (X) | $200,000 | $184,652 | 0 | Yes (1) | Yes (1) |
| ADDIE ALLISON | |||||||
| KEY EMPLOYEE | AUTO LOAN | Yes (X) | $49,521 | $47,385 | 0 | Yes (1) | Yes (1) |
| ADDIE ALLISON | |||||||
| KEY EMPLOYEE | MORTGAGE | Yes (X) | $606,000 | $504,596 | 0 | Yes (1) | Yes (1) |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | $2,974,990 | TotalBalanceDueAmt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (8 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | FIRST ENTERTAINMENT CREDIT UNION IS A COOPERATIVE FINANCIAL INSTITUTION THAT IS OWNED AND CONTROLLED BY ITS MEMBERS, AND OPERATED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS TO ITS MEMBERS. FIRST ENTERTAINMENT CREDIT UNION DOES NOT HAVE STOCKHOLDERS. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE GOVERNING BOARD OF FIRST ENTERTAINMENT CREDIT UNION IS COMPRISED OF VOLUNTEER MEMBERS WHO ARE DIRECTLY ELECTED BY ITS MEMBERS. EACH MEMBER OF THE GOVERNING BOARD SERVES FOR A PERIOD AS PRESCRIBED BY ITS BY-LAWS. |
| FORM 990, PART VI, SECTION A, LINE 7B | AT THE END OF EACH TERM OF THE BOARD MEMBERS, ELECTIONS ARE HELD AND BOARD MEMBERS ARE VOTED BY THE MEMBERS OF THE CREDIT UNION PURSUANT TO ITS BY-LAWS. MEMBER VOTES ARE ALSO REQUIRED TO RATIFY DECISIONS DEALING WITH REORGANIZATIONS AS IN THE CASE OF MERGER OR DISSOLUTION. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE 990 IS REVIEWED BY THE BOARD EXECUTIVE COMMITTEE. |
| FORM 990, PART VI, SECTION B, LINE 12C | EMPLOYEES, BOARD AND VOLUNTEERS ARE REQUIRED TO REPORT KNOWN CONFLICTS OF INTEREST. EMPLOYEES SIGN THE CONFLICT OF INTEREST POLICY AT THE TIME OF HIRE AND ANNUALLY AT THE BEGINNING OF EACH YEAR. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE BOARD CONDUCTS AN EXECUTIVE COMMITTEE SESSION TO DETERMINE SALARY OF THE PRESIDENT/CEO. FIRST ENTERTAINMENT CREDIT UNION ALSO HAS A COMPENSATION SYSTEM THAT COMPARES SALARIES BASED ON OTHER CREDIT UNIONS, THEIR ASSET SIZE AND GEOGRAPHIC LOCATION. FIRST ENTERTAINMENT CREDIT UNION USES RANGES FOR ALL OF THEIR POSITIONS. EACH POSITION IS THEN CAREFULLY REVIEWED. FORM 990 PART VI SECTION B LINE 15B: THE CEO AND ESC EVALUATES EACH SENIOR EXECUTIVE POSITION IN ACCORDANCE WITH FIRST ENTERTAINMENT CREDIT UNION'S COMPENSATION GUIDELINES, THE COMPENSATION SYSTEM AND BASED ON THEIR OVERALL PERFORMANCE AS ASSESSED DURING THE FORMAL EVALUATION PROCESS WHICH IS CONDUCTED ANNUALLY. |
| FORM 990, PART VI, SECTION C, LINE 19 | FIRST ENTERTAINMENT CREDIT UNION MAKES ITS GOVERNING DOCUMENTS, FINANCIAL STATEMENTS, AND CONFLICT OF INTEREST POLICY AVAILABLE TO ITS MEMBERS UPON REQUEST. |
| FORM 990, PART XII, LINE 2C: | THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. |
Schedule R IRS990ScheduleR
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp
Related Organization Name RelatedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MEDIA BENEFITS CORP | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 6735 FOREST LAWN DR SUITE 300 | AddressLine1Txt |
| City | HOLLYWOOD | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 90068 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 953974685 | EIN |
| Primary Activities | SALES | PrimaryActivitiesTxt |
| Legal Domicile State | CA | LegalDomicileStateCd |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FIRST ENT CU | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Entity Type | C | EntityTypeTxt |
| Share Of Total Income | $723,865 | ShareOfTotalIncomeAmt |
| Share Of EOY Assets | $154,458 | ShareOfEOYAssetsAmt |
| Ownership | 1.00000 | OwnershipPct |
| 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 | 0 | 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 |