KITSAP CREDIT UNION: Form 990, tax year 2015
View the entire original 990 at ProPublica ↗
- Organization
- KITSAP CREDIT UNION (EIN 91-0333066)
- Tax period
- 2015-01-01 to 2015-12-31
- Filed
- 2016-04-30
- IRS object ID
- 201611239349301416
- Schema version
- 2015v2.1
- 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 | 2016-04-30T11:14:37-07:00 | ReturnTs |
| Tax Period End | 2015-12-31 | TaxPeriodEndDt |
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2015-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 910333066 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | KITSAP CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | KITS | BusinessNameControlTxt |
| Phone | 3606622000 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO Box 990 | AddressLine1Txt |
| City | Bremerton | CityNm |
| State Abbreviation | WA | StateAbbreviationCd |
| ZIP | 98337 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Scott Henderson | PersonNm |
| Person Title | SVP/CFO | PersonTitleTxt |
| Phone | 3606622162 | PhoneNum |
| Signature | 2016-04-18 | SignatureDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2015 | TaxYr |
| Build TS | 2016-09-27 15:27:22Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | Scott Henderson | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO Box 990 | AddressLine1Txt |
| City | Bremerton | CityNm |
| State Abbreviation | WA | StateAbbreviationCd |
| ZIP | 98337 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $121,179,317 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | www.kitsapcu.org | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1934 | FormationYr |
| Legal Domicile State | WA | LegalDomicileStateCd |
| Activity Or Mission | A not-for-profit financial cooperative, offering checking and savings programs, lending and related services to members who live, work, or worship in the State of Washington. Kitsap Credit Union (KCU) also provides financial literacy programs and is actively involved in community outreach programs. | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 9 | VotingMembersIndependentCnt |
| Total Employee | 331 | TotalEmployeeCnt |
| Total Volunteers | 15 | TotalVolunteersCnt |
| Total Gross UBI | $750,110 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $750,110 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $40,286,673 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $43,737,854 | CYProgramServiceRevenueAmt |
| PY Investment Income | $3,974,692 | PYInvestmentIncomeAmt |
| CY Investment Income | $4,158,735 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $44,261,365 | PYTotalRevenueAmt |
| CY Total Revenue | $47,896,589 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $16,571,398 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $16,884,736 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $17,580,759 | PYOtherExpensesAmt |
| CY Other Expenses | $21,532,963 | CYOtherExpensesAmt |
| PY Total Expenses | $34,152,157 | PYTotalExpensesAmt |
| CY Total Expenses | $38,417,699 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $10,109,208 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $9,478,890 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $987,759,193 | TotalAssetsBOYAmt |
| Total Assets EOY | $1,039,856,088 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $891,136,858 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $935,643,356 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $96,622,335 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $104,212,732 | NetAssetsOrFundBalancesEOYAmt |
| Mission | To offer checking, savings, and lending programs to members who live, work, and worship in the State of Washington. KCU also provides financial literacy programs and is actively involved in community outreach programs. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | Secured and unsecured loans issued to credit union members, as related to the exempt purpose of KCU. The types of loans issued include direct and indirect vehicle loans, VISA's, home equity loans, and mortgage loans. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Savings programs that are provided to credit union members, as related to the exempt purpose of KCU. The types of accounts offered are checking, money market accounts, IRA accounts, regular savings, and certificates. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Community involvement including donation of staff time in the community. KCU also offers many financial literacy classes for children and adults. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Prog Srvc Expense | $0 | TotalOtherProgSrvcExpenseAmt |
| Total Other Prog Srvc Grant | $0 | TotalOtherProgSrvcGrantAmt |
| Total Other Prog Srvc Revenue | $0 | TotalOtherProgSrvcRevenueAmt |
| Total Program Service Expenses | $0 | TotalProgramServiceExpensesAmt |
| 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 |
| Temp Or Permanent Endowments | 0 | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | Yes (1) | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | 0 | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 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 | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With Officer Ent | 0 | BusinessRlnWithOfficerEntInd |
| 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 | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 16248 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 331 | 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 |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 9 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 9 | 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 | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | 0 | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | WA | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Scott Henderson | PersonNm |
| Phone | 3606622162 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO Box 990 | AddressLine1Txt |
| City | Bremerton | CityNm |
| State Abbreviation | WA | StateAbbreviationCd |
| ZIP | 98337 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (22 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|
| Jim Rowson | |||||||
| Chair | 8 | Yes (X) | $0 | $0 | $0 | ||
| Pete Schlicher | |||||||
| Vice Chair | 8 | Yes (X) | $0 | $0 | $0 | ||
| Doug Lupton | |||||||
| Treasurer | 5 | Yes (X) | $0 | $0 | $0 | ||
| Vicki Gambrell | |||||||
| Secretary | 5 | Yes (X) | $0 | $0 | $0 | ||
| Susan Baker | |||||||
| Director | 5 | Yes (X) | $0 | $0 | $0 | ||
| Tony Bolander | |||||||
| Director | 5 | Yes (X) | $0 | $0 | $0 | ||
| Wendie Johnson | |||||||
| Director | 5 | Yes (X) | $0 | $0 | $0 | ||
| Carolyn Maxon | |||||||
| Director | 5 | Yes (X) | $0 | $0 | $0 | ||
| Bob Podrat | |||||||
| Director | 5 | Yes (X) | $0 | $0 | $0 | ||
| Shane McGraw | |||||||
| Associate Director | 5 | Yes (X) | $0 | $0 | $0 | ||
| Lanny Ross | |||||||
| Associate Director | 5 | Yes (X) | $0 | $0 | $0 | ||
| Ralph Strickland | |||||||
| Director Emeritus | 1 | Yes (X) | $0 | $0 | $0 | ||
| Elliot Gregg | |||||||
| President/CEO | 40 | $858,923 | $0 | $20,277 | Yes (X) | ||
| Kellie LeTexier | |||||||
| SVP, COO | 40 | $240,929 | $0 | $19,627 | Yes (X) | ||
| Scott Henderson | |||||||
| SVP, CFO | 40 | $248,764 | $0 | $18,173 | Yes (X) | ||
| Colin Morrison | |||||||
| SVP, CIO | 40 | $201,686 | $0 | $17,604 | Yes (X) | ||
| Anthony Bulleri | |||||||
| SVP, CLO | 40 | $174,456 | $0 | $14,093 | Yes (X) | ||
| Carolyn Young | |||||||
| VP of Branch Operations | 40 | $139,526 | $0 | $14,396 | Yes (X) | ||
| Renee Martin | |||||||
| Commercial Lending Market Manager | 40 | $126,251 | $0 | $13,432 | Yes (X) | ||
| Jon Schultz | |||||||
| Investment Services Registered Representative | 40 | $116,507 | $0 | $13,843 | Yes (X) | ||
| Melinda Anthony | |||||||
| VP Lending | 40 | $116,326 | $0 | $14,330 | Yes (X) | ||
| Leah Olson | |||||||
| VP Marketing | 40 | $113,273 | $0 | $13,346 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $2,336,641 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $159,121 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 15 | 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 |
|---|---|---|---|---|---|
| Digital Insight-Intuit | |||||
| PO Box 515306 | Los Angeles | CA | 90051 | Bill Pay Service | $1,610,036 |
| VISA DPS | |||||
| PO Box 742233 | Los Angeles | CA | 90074 | Plastic Card Data Processing | $933,301 |
| GIBSON MEDIA INC | |||||
| 108 S Washington | Seattle | WA | 98104 | Advertising | $562,139 |
| JACK HENRY & ASSOCIATES | |||||
| PO Box 609 | Monett | MO | 65708 | Consulting/Implementation | $528,905 |
| ARROW CLEANING INC | |||||
| 3407 126th NW | Gig Harbor | WA | 98332 | Janitorial Services | $400,120 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 18 | CntrctRcvdGreaterThan100KCnt |
| Total Contributions | $0 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (4 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt | ExclusionExclusionAmt |
|---|---|---|---|---|---|
| Interest on Loans | 522130 | $30,452,853 | $30,452,853 | $0 | $0 |
| Fee Income | 522130 | $5,690,084 | $5,690,084 | $0 | $0 |
| Other Income | 522130 | $2,529,796 | $1,779,686 | $750,110 | $0 |
| Debit Card Interchange | 522130 | $5,065,121 | $5,065,121 | $0 | $0 |
Total Oth Program Service Rev TotalOthProgramServiceRevGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $43,737,854 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $3,477,423 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $3,477,423 | ExclusionAmt |
Incm From Invest Bond Proceeds IncmFromInvestBondProceedsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
Royalties Revenue RoyaltiesRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
| Personal | $0 | PersonalAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $70,511,084 | SecuritiesAmt |
| Other | $3,452,956 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $70,190,657 | SecuritiesAmt |
| Other | $3,092,071 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $320,427 | SecuritiesAmt |
| Other | $360,885 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $681,312 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $360,885 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $320,427 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $0 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $47,896,589 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $43,348,629 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $750,110 | UnrelatedBusinessRevenueAmt |
| Exclusion | $3,797,850 | ExclusionAmt |
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 | $1,814,533 | 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 | $11,182,885 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $420,757 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,379,667 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,086,894 | TotalAmt |
Fees For Services Management FeesForServicesManagementGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $8,354 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $216,304 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $113,527 | 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 | $886,126 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,322,194 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,841,869 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,440,774 | TotalAmt |
Royalties RoyaltiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,731,512 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $237,364 | 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 | $1,878,168 | TotalAmt |
Payments To Affiliates PaymentsToAffiliatesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,004,731 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $250,138 | TotalAmt |
Other Expenses OtherExpensesGrp (3 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| Total Provision | $1,664,339 |
| Loan Expenses | $1,455,413 |
| Miscellaneous | $1,482,150 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $38,417,699 | 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 | $19,775,820 | BOYAmt |
| EOY | $18,891,162 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $34,380,996 | BOYAmt |
| EOY | $18,631,010 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $652,988,305 | BOYAmt |
| EOY | $701,447,335 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,649,180 | BOYAmt |
| EOY | $5,613,425 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $51,792,312 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $19,357,580 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $35,409,001 | BOYAmt |
| EOY | $32,434,732 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $233,839,029 | BOYAmt |
| EOY | $258,203,973 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $645,082 | BOYAmt |
| EOY | $554,830 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,071,780 | BOYAmt |
| EOY | $4,079,621 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $987,759,193 | BOYAmt |
| EOY | $1,039,856,088 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,781,384 | BOYAmt |
| EOY | $8,115,533 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $297,978 | BOYAmt |
| EOY | $302,175 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $883,057,496 | BOYAmt |
| EOY | $927,225,648 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $891,136,858 | BOYAmt |
| EOY | $935,643,356 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow SFAS117 | Yes (X) | OrgDoesNotFollowSFAS117Ind |
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 | $96,622,335 | BOYAmt |
| EOY | $104,212,732 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $96,622,335 | BOYAmt |
| EOY | $104,212,732 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $987,759,193 | BOYAmt |
| EOY | $1,039,856,088 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $9,478,890 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$1,888,493 | NetUnrlzdGainsLossesInvstAmt |
| Donated Services And Use Fclts | $0 | DonatedServicesAndUseFcltsAmt |
| Investment Expense | $0 | InvestmentExpenseAmt |
| Prior Period Adjustments | $0 | PriorPeriodAdjustmentsAmt |
| 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 | 0 | FSAuditedInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $0 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $7,124,805 | OtherCostOrOtherBasisAmt |
| Book Value | $7,124,805 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $0 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $30,106,864 | OtherCostOrOtherBasisAmt |
| Depreciation | $6,888,871 | DepreciationAmt |
| Book Value | $23,217,993 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $0 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $4,524,984 | OtherCostOrOtherBasisAmt |
| Depreciation | $4,468,383 | DepreciationAmt |
| Book Value | $56,601 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $0 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $9,929,204 | OtherCostOrOtherBasisAmt |
| Depreciation | $7,940,217 | DepreciationAmt |
| Book Value | $1,988,987 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $0 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $106,455 | OtherCostOrOtherBasisAmt |
| Depreciation | $60,109 | DepreciationAmt |
| Book Value | $46,346 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $32,434,732 | TotalBookValueLandBuildingsAmt |
Financial Derivatives FinancialDerivativesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Book Value | $0 | BookValueAmt |
Closely Held Equity Interests CloselyHeldEquityInterestsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Book Value | $0 | BookValueAmt |
Other Securities OtherSecuritiesGrp (4 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| NCUA Share Insurance Deposit | $8,769,790 | F |
| FHLB Stock | $1,185,500 | F |
| Overnight Investments | $47,597,727 | F |
| Other Investments | $200,650,956 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $258,203,973 | TotalBookValueSecuritiesAmt |
| Federal Income Tax Liability | $0 | FederalIncomeTaxLiabilityAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (7 entries)
| DescDesc | AmtAmt |
|---|---|
| Shares | $346,675,533 |
| Checking | $226,382,616 |
| Money Market | $160,756,968 |
| Escrow Shares | $567,233 |
| IRA Shares | $28,148,196 |
| Share Certificates | $144,829,204 |
| IRA Share Certificates | $19,865,898 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $927,225,648 | TotalLiabilityAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Schedule D, Part XI, Line 1 | FormAndLineReferenceDesc |
| Explanation | Financial Statements are audited by an independent CPA for the period of October 2014 through September 2015. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | Yes (X) | TravelForCompanionsInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (5 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Elliot Gregg | ||||||||||||||
| President/CEO | $447,683 | $0 | $139,677 | $0 | $271,563 | $0 | $10,600 | $0 | $9,677 | $0 | $879,200 | $0 | $0 | $0 |
| Kellie LeTexier | ||||||||||||||
| SVP, COO | $240,348 | $0 | $0 | $0 | $582 | $0 | $9,614 | $0 | $10,013 | $0 | $260,557 | $0 | $0 | $0 |
| Scott Henderson | ||||||||||||||
| SVP, CFO | $227,236 | $0 | $0 | $0 | $21,529 | $0 | $8,497 | $0 | $9,677 | $0 | $266,939 | $0 | $0 | $0 |
| Colin Morrison | ||||||||||||||
| SVP, CIO | $198,191 | $0 | $0 | $0 | $3,496 | $0 | $7,928 | $0 | $9,677 | $0 | $219,292 | $0 | $0 | $0 |
| Anthony Bulleri | ||||||||||||||
| SVP, CLO | $173,761 | $0 | $0 | $0 | $695 | $0 | $6,951 | $0 | $7,142 | $0 | $188,549 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Schedule J, Part I, Line 1a | FormAndLineReferenceDesc |
| Explanation | Part I 1a Approved paid travel expense for Elliot Gregg's guest to NASCUS Summit on October 20 - October 25, 2015 per written policy. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (8 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Form 990, Part VI, Section A, Line 6 | Form 990, Part VI, Section A, Line 6: Kitsap Credit Union had 92,860 members as of December 31, 2015. |
| Form 990, Part VI, Section A, Line 7a | Form 990, Part VI, Section A, Line 7A: Members elect all directors for a 3-year term. They can run for re-election. Ballots are mailed to all members during the 1st quarter each year. |
| Form 990, Part VI, Section A, Line 8a | orm 990, Part VI, Section A, Line 8A: KCU records meeting minutes for all committee meetings. |
| Form 990, Part VI, Section B, Line 11b | Form 990, Part VI, Section B, 11B: The Accounting Manager, Accounting Lead, and SVP/CFO review the return for accuracy. |
| Form 990, Part VI, Section B, Line 12c | Form 990, Part VI, Section B, Line 12C: The code of conduct/conflict interest policy is required to be reviewed and signed (with or without disclosures) or acknowledged (by electronic signature) upon hire for new employees and annually thereafter for all staff, officials, and directors. Acknowledgements received from individuals who disclose a potential conflict are forwarded to the CEO or CFO for review and approval. |
| Form 990, Part VI, Section B, Line 15 | Form 990, Part VI, Section B, Line 15A/Line 15B: Kitsap Credit Union uses an outside compensation consultant (one for staff and another for executive compensation) to determine market ranges for pay for all positions. The Human Resources Dept. works with the consultants to ensure pay ranges are competitive and within the market. Actual individual pay for the CEO is determined by the Board of Directors. Pay for officers is determined by the CEO. |
| Form 990, Part VI, Section C, Line 19 | Form 990, Part VI, Section C, Line 19: Kitsap Credit Union makes the monthly financial statements available to the public by posting them in each branch. Governing documents, such as articles of incorporation, are available upon request. Conflict of interest policies are not made public. |
| Form 990, Part XII, Line 2a | Form 990, Part XII, Line 2A/2C: KCU has a Supervisory Committee that oversees the audit of the financial statements. This committee also selects the auditing firm. The financial statements were audited by Moss Adams with the audit term of October 2014 to September 2015. |