2022-11-15T16:42:58-06:00 2021-12-31 910189318 MOSS ADAMS LLP 601 W RIVERSIDE AVENUE STE 1800 SPOKANE WA 99201 990 2021-01-01 910567788 HORIZON CREDIT UNION HORI 5099286494 PO BOX 15128 SPOKANE VALLEY WA 99216 JEFF ADAMS CEO 5099286494 2022-11-14 1 JEFF ADAMS 999009999 EMINA O CRESSWELL CPA P01217304 5097472600 2022-11-14 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z JEFF ADAMS PO BOX 15128 SPOKANE VALLEY WA 99216 78304907 0 1269 X WWW.HZCU.ORG X 1947 WA CREDIT UNION OPERATED WITHOUT PROFIT FOR MUTUAL PURPOSES. PROVIDE FINANCIAL SERVICES TO MEMBERS. 8 8 546 11 176300 0 0 0 64603119 73790452 2040443 1486002 24350 25200 66667912 75301654 224919 264318 0 0 23002579 28846965 0 0 0 29972206 27013147 53199704 56124430 13468208 19177224 1645911225 1730610354 1449668031 1516539762 196243194 214070592 CREDIT UNION OPERATED WITHOUT PROFIT FOR MUTUAL PURPOSES. 0 0 PROVIDE FINANCIAL SERVICES TO APPROXIMATELY 104,000 MEMBERS. THESE SERVICES INCLUDE BUT ARE NOT LIMITED TO LOANS AND SAVINGS PROGRAMS. THE SERVICES ARE PROVIDED BY AT LEAST NINE NON-PAID VOLUNTEERS AND APPROXIMATELY 350 FULL-TIME PAID EMPLOYEES. 0 0 1 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 15867 0 1 546 1 1 1 0 0 0 0 0 1 0 X 8 8 0 0 0 0 1 1 1 1 1 0 0 0 1 1 0 0 1 1 1 0 X DEBORAH PARELIUS 5099286494 PO BOX 15128 SPOKANE VALLEY WA 99216 JEFF ADAMS CEO 40.00 X 646839 0 808187 DEBORAH PARELIUS CFO 40.00 X 380313 0 40521 MARK NEUMANN COO 40.00 X 366206 0 36267 BRIAN GRYTDAL SENIOR VP MARKETING 40.00 X 229132 0 31206 JODIE OLSON SENIOR VP HUMAN RESOURCES 40.00 X 248402 0 33622 GREG CRARY SENIOR VP INFORMATION SERVICES 40.00 X 237909 0 48861 CONNIE MILLER REGIONAL VICE PRESIDENT 40.00 X 1333013 0 23487 JOHN COTNER VICE PRESIDENT 40.00 X 171029 0 33724 STEVE SHARON CHAIRMAN OF BOARD 1.00 X X 0 0 0 NANCY RIPLEY 1ST VICE CHAIRMAN 1.00 X X 0 0 0 MIKE BUTLER 2ND VICE CHAIRMAN 1.00 X X 0 0 0 PAT FITZGERALD SECRETARY/TREASURER 1.00 X X 0 0 0 MARK LODINE DIRECTOR 1.00 X 0 0 0 DARIN BURRELL DIRECTOR 1.00 X 0 0 0 THOMAS DILUZIO DIRECTOR 1.00 X 0 0 0 PAT MARLER DIRECTOR 1.00 X 0 0 0 3612843 0 1055875 27 0 1 0 FISERV 405 SCIENCE DRIVE MOORPARK CA 93021 DATA PROCESSING 2568690 NCR CORPORATION 864 SPRING ST NW ATLANTA GA 30308 WEBSITE & ELECTRONIC BANKING 1343762 LOOMIS DEPT CH 10500 PALATINE IL 600550500 SECURED ARMORED TRANSPORT 542655 DIRECT MAIL ENTERPRISES 812 N NAPA SPOKANE WA 99202 DIRECT MAIL SERVICE 494653 MERIDIANLINK PO BOX 846822 LOS ANGELES CA 900846822 DIGITAL LENDING SOFTWARE 392979 51 MEMBER INTEREST 522100 59500339 59500339 CARD INCOME 522100 6122915 6122915 FEES INCOME 522100 5926023 5749723 176300 OTHER INCOME 525990 2241175 2241175 73790452 1483003 1483003 25200 0 25200 25200 25200 3006252 3003253 2999 2999 2999 75301654 73614152 176300 1511202 258218 6100 2278333 19218237 2874472 2845067 1630856 171188 247273 80773 1332922 2589302 849959 3252772 2149597 100035 9661 4067993 2462674 609286 CARD PROCESSING FEES 2387674 LOAN PROCESSING 2313794 PROVISION FOR LOAN LOSS 1401718 MEMBER SERVICING 1193835 1792691 56124430 42068958 27888156 112509882 185362722 6354510 4600918 2085751 2085751 1334941219 1366596623 1735715 1967354 64656390 21884462 41138284 42771928 70385220 64492216 9807 8171 11250251 10942501 23431628 23894014 1645911225 1730610354 19281513 21669028 490693 425733 1429895825 1494445001 1449668031 1516539762 X 0 0 0 0 196243194 214070592 196243194 214070592 1645911225 1730610354 X 19177224 -1259995 -89831 X 0 1 X 1 0 12743 12743 12743 1 CREDIT UNION LEGISLATIVE ACTION FUND 18000 INTERNATIONAL BLVD SUITE 350 SEATAC WA 98188 800043051 12743 5204 PART I-A, LINE 1: THE CREDIT UNIONS ONLY INDIRECT POLITICAL CAMPAIGN ACTIVITY IS A CONTRIBUTION TO THE CREDIT UNION LEGISLATIVE ACTION COMMITTEE. 11349205 11349205 31218155 8060809 23157346 928124 753733 174391 17940176 13069920 4870256 3220730 3220730 42771928 MEMBER SHARES & DEPOSITS 1494445001 1494445001 X 75523139 239818 239818 75283321 18333 18333 75301654 56106097 0 56106097 18333 18333 56124430 PART X, LINE 2: THE CREDIT UNION IS A STATE-CHARTERED CREDIT UNION DESCRIBED IN INTERNAL REVENUE CODE (IRC) SECTION 501(C)(14). AS SUCH, THE CREDIT UNION IS EXEMPT FROM FEDERAL TAXATION OF INCOME DERIVED FROM THE PERFORMANCE OF ACTIVITIES THAT ARE IN FURTHERANCE OF ITS EXEMPT PURPOSES. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME (AS DEFINED IN SECTION 512) DERIVED BY STATE-CHARTERED CREDIT UNIONS. THE SPECIFIC APPLICATION OF SECTION 512 TO THE VARIOUS ACTIVITIES CONDUCTED BY STATE-CHARTERED CREDIT UNIONS HAS BEEN AT ISSUE FOR MANY YEARS. THE INTERNAL REVENUE SERVICE (IRS) HAS ISSUED A SERIES OF TECHNICAL ADVICE MEMORANDA (TAM) TO A NUMBER OF STATE-CHARTERED CREDIT UNIONS LOCATED THROUGHOUT THE COUNTRY. IN THESE TAMS, THE IRS RULED CERTAIN PRODUCTS AND SERVICES TO BE SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. IN LIGHT OF THE TAMS, THE CREDIT UNION HAS ASSESSED ITS ACTIVITIES AND ANY POTENTIAL FEDERAL INCOME TAX LIABILITY. THE CREDIT UNION FILES IRS FORMS 990 AND 990-T, AS APPLICABLE, AND MEASURES AND RECOGNIZES THE IMPLICATIONS OF POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN ITS TAX RETURNS ON AN ONGOING BASIS, IN ACCORDANCE WITH INCOME TAX GUIDANCE. THE CREDIT UNION HAD UNRECOGNIZED TAX BENEFITS IN THE AMOUNT OF $429,000 AT DECEMBER 31, 2020 DUE TO UNRELATED BUSINESS INCOME. THE CREDIT UNION HAD NO UNRECOGNIZED TAX LIABILITIES, AND NO ADJUSTMENTS TO ITS FINANCIAL POSITION, RESULTS OF OPERATIONS, OR CASH FLOWS RELATED TO UNCERTAIN TAX POSITIONS TAKEN FOR THE YEAR ENDED DECEMBER 31, 2021. THE CREDIT UNION IS NO LONGER SUBJECT TO FEDERAL, STATE, OR LOCAL INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR 12 MONTHS PRIOR TO DECEMBER 31, 2018. IF ASSESSED, THE CREDIT UNION RECOGNIZES PENALTIES AND INTEREST ASSOCIATED WITH TAX MATTERS AS PART OF OPERATING EXPENSES. IN 2017, CONGRESS PASSED THE TAX CUTS AND JOBS ACT, WHICH IMPOSES A 21% EXCISE TAX ON EMPLOYEE COMPENSATION IN EXCESS OF $1 MILLION AND DEFERRED COMPENSATION AFTER THE EMPLOYEE HAS LEFT THE ORGANIZATION IN EXCESS OF THREE TIMES THE AVERAGE COMPENSATION OF THE PREVIOUS FIVE YEARS. THE CREDIT UNION HAS INCURRED $52,000 OF EXCISE TAXES IN 2021 AND NONE IN 2020. PART XI, LINE 4B - OTHER ADJUSTMENTS: FAIR VALUE ADJUSTMENT 15,334. GAIN/LOSS ON SALE OF FIXED ASSETS 2,999. PART XII, LINE 4B - OTHER ADJUSTMENTS: FAIR VALUE ADJUSTMENT 15,334. GAIN/LOSS ON SALE OF FIXED ASSETS 2,999. 1 FAMILY PROMISE OF SPOKANE 904 E HARTSON SPOKANE WA 99202 911707988 501(C)(3) 8000 0 GENERAL SUPPORT, INTERNATIONAL CREDIT UNION DAY SERVICE EVENT IDAHO YOUTH RANCH 5465 W IRVING BOISE ID 83706 820253346 501(C)(3) 5500 0 FLIP FLOP SPONSOR - WINE, WOMEN & SHOES EVENT NWCUF FAIRSHARE CONTRIBUTION 18000 INTERNATIONAL BLVD SUITE 350 SEATAC WA 98188 911649328 501(C)(3) 12743 0 FOUNDATION COMMUNITY IMPACT SUPPORT WOMEN & CHILDREN'S FREE RESTAURANT 1408 NORTH WASHINGTON STREET SPOKANE WA 99201 911399742 501(C)(3) 7500 0 MEALS AND GROCERIES TO FOR QUALIFYING WOMEN, CHILDREN AND FAMILIES YWCA SPOKANE 930 N MONROE SPOKANE WA 99201 910565025 501(C)(3) 8500 0 FREEDOM PARTNERSHIP, DOMESTIC VIOLENCE CLIENT ASSISTANCE PROGRAM SECOND HARVEST 1234 EAST FRONT AVE SPOKANE WA 99201 911399742 501(C)(3) 7000 0 FOOD BANK 6 0 SCHOLARSHIPS 6 6100 PART I, LINE 2: THE ORGANIZATION KEEPS RECEIPTS OR DOCUMENTATION FOR EACH SPONSORED EVENT. THE ORGANIZATION HAS A POLICY AND SET OF BY-LAWS FOR THE COMMUNITY OUTREACH COMMITTEE TO FOLLOW WHEN APPROVING EXPENDITURES FOR EVENTS. THE COC IS ASSIGNED BY SENIOR MANAGEMENT A BUDGETED EXPENDITURE AMOUNT FOR EACH YEAR. THE DONATIONS WERE MADE TO KNOWN LOCAL CHARITABLE ORGANIZATIONS AND THEREFORE NO FURTHER MONITORING IS DONE TO ENSURE THAT THE FUNDS ARE NOT USED OUTSIDE THE U.S. X 1 1 X X X X 0 1 0 JEFF ADAMS CEO 515228 0 74482 0 57129 0 773788 0 34399 0 1455026 0 0 0 DEBORAH PARELIUS CFO 310718 0 37163 0 32432 0 23200 0 17321 0 420834 0 0 0 MARK NEUMANN COO 298538 0 38710 0 28958 0 22011 0 14256 0 402473 0 0 0 BRIAN GRYTDAL SENIOR VP MARKETING 200836 0 25796 0 2500 0 18509 0 12697 0 260338 0 0 0 JODIE OLSON SENIOR VP HUMAN RESOURCES 220830 0 27572 0 0 0 17850 0 15772 0 282024 0 0 0 GREG CRARY SENIOR VP INFORMATION SERVICES 208432 0 28757 0 720 0 16628 0 32233 0 286770 0 0 0 CONNIE MILLER REGIONAL VICE PRESIDENT 187732 0 19550 0 1125731 0 18035 0 5452 0 1356500 0 0 0 JOHN COTNER VICE PRESIDENT 141702 0 29327 0 0 0 13322 0 20402 0 204753 0 0 0 PART I, LINE 1A THE CREDIT UNION REIMBURSES LIMITED ACTUAL EXPENSES FOR SPOUSAL TRAVEL OF BOARD MEMBERS, SUPERVISORY COMMITTEE MEMBERS, THE CEO, AND SENIOR MANAGERS. THIS IS ONLY FOR TRAVEL RELATED TO CREDIT UNION BUSINESS. THE REIMBURSEMENTS ARE NOT TAXABLE COMPENSATION. PART I, LINE 4B JEFF ADAMS, CEO, PARTICIPATES IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN. THE AMOUNT EARNED IN 2021 WAS $751,680. CONNIE MILLER, REGIONAL VP, PARTICIPATED IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN. THE AMOUNT PAID OUT IN 2021 WAS $1,074,094. DEBORAH PARELIUS, CFO, AND MARK NEUMANN, COO, PARTICIPATE IN THE SPLIT-DOLLAR LIFE INSURANCE ARRANGEMENT THAT IS TREATED AS A SPLIT-DOLLAR LOAN UNDER TREASURY REGULATIONS SECTION 1.7872-15. MARK NEUMANN COO EXECUTIVE COMPENSATION X 323225 461751 0 1 1 DEBORAH PARELIUS CFO EXECUTIVE COMPENSATION X 1392000 1624000 0 1 1 2085751 SCHEDULE L, PART II, LINE (C) ADDITIONAL EXPLANATION: EXECUTIVE COMPENSATION UNDER A SPLIT-DOLLAR LIFE INSURANCE ARRANGEMENT THAT IS TREATED AS A SPLIT-DOLLAR LOAN UNDER TREASURY REGULATIONS SECTION 1.7872-15. FORM 990, PART VI, SECTION A, LINE 6 ENTITY HAS MEMBERS WHO ELECT MEMBERS OF THE BOARD. FORM 990, PART VI, SECTION A, LINE 7A ENTITY HAS ONE CLASS OF MEMBERS. FORM 990, PART VI, SECTION A, LINE 7B ENTITY HAS MEMBERS WHO HAVE RIGHTS TO RATIFY DECISIONS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE CFO REVIEWS THE FORM 990 AND WILL MAKE A COMPLETE COPY OF IT AVAILABLE TO THE BOARD AT THE NOVEMBER 2022 BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 15 CEO SALARY RANGES ARE PREPARED BY HUMAN RESOURCES BASED ON INDUSTRY COMPARABILITY DATA AND IS REVIEWED BY THE EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE IS COMPRISED OF VOLUNTEER BOARD MEMBERS. CEO PERFORMANCE IS ASSESSED BY ENTIRE BOARD. SALARY TRENDS, BENCHMARKS AND DATA ARE REVIEWED BY THE EXECUTIVE COMMITTEE FOR APPROPRIATE SALARY DETERMINATION AS DELEGATED TO AND AUTHORIZED BY THE BOARD. SENIOR MANAGER SALARY RANGES ARE PREPARED BY HUMAN RESOURCES BASED ON INDUSTRY COMPARABILITY DATA AND REVIEWED BY THE CEO AND THE COMPENSATION COMMITTEE AND/OR BOARD CHAIR. PERFORMANCE IS ASSESSED AND SALARY TRENDS ARE REVIEWED BY THE CEO TO DETERMINE RELEVANT SALARIES. EVERY FEW YEARS THE COMPENSATION DATA AND PROCESS IS REVIEWED BY AN OUTSIDE CONSULTANT. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION DOES NOT MAKE AVAILABLE TO THE PUBLIC THE ORGANIZATION'S GOVERNING DOCUMENTS OR CONFLICT OF INTEREST POLICY. THE ORGANIZATION PUBLISHES THEIR MONTHLY FINANCIAL STATEMENTS AT EACH BRANCH, AND THEIR QUARTERLY FINANCIAL STATEMENTS ARE PUBLISHED ON THE NCUA WEBSITE. THE ORGANIZATION'S ANNUAL REPORT IS AVAILABLE ON THEIR WEBSITE. FORM 990, PART XI, LINE 9: ACTUARIAL GAIN ON DEFINED BENEFIT PLAN -89,831.