CREDIT UNIONS IN THE STATE OF CALIFORNIA: Form 990, tax year 2011
View the entire original 990 at ProPublica ↗
- Organization
- CREDIT UNIONS IN THE STATE OF CALIFORNIA (EIN 94-6087440)
- Tax period
- 2011-01-01 to 2011-12-31
- Filed
- 2012-11-01
- IRS object ID
- 201233069349301518
- Schema version
- 2011v1.2
- 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) |
|---|---|---|
| Timestamp | 2012-11-01T13:24:42-05:00 | Timestamp |
| Tax Period End Date | 2011-12-31 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 410746749 | EIN |
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CLIFTONLARSONALLEN LLP | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 20 E THOMAS RD STE 2300 | AddressLine1 |
| City | PHOENIX | City |
| State | AZ | State |
| ZIP Code | 85012 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2011-01-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 946087440 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | COMMONWEALTH CENTRAL CREDIT UNION | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | COMM | NameControl |
| Phone | 4085313100 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 5890 SILVER CREEK VALLEY RD | AddressLine1 |
| City | SAN JOSE | City |
| State | CA | State |
| ZIP Code | 95138 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | HAROLD H DEGUZMAN | Name |
| Title | VP FINANCE/CFO | Title |
| Phone | 4085313100 | Phone |
| Date Signed | 2012-10-29 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | JANIS K ISAACSON CPA | Name |
| PTIN | P00089104 | PTIN |
| Phone | 6022662248 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2011 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | CRAIG WEBER | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 5890 SILVER CREEK VALLEY RD | AddressLine1 |
| City | SAN JOSE | City |
| State | CA | State |
| ZIP Code | 95138 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 17990043 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c | X | Organization501c |
| Web Site | WWW.WEALTHCU.ORG | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1958 | YearFormation |
| State Legal Domicile | CA | StateLegalDomicile |
| Activity Or Mission Description | TO PROMOTE THRIFT AMONG MEMBERS AND CREATE A SOURCE OF CREDIT FOR MEMBERS. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 7 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 7 | NbrIndependentVotingMembers |
| Total Nbr Employees | 100 | TotalNbrEmployees |
| Total Nbr Volunteers | 10 | TotalNbrVolunteers |
| Total Gross UBI | 110337 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | -66199 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 0 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 0 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 19391798 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 17990043 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 0 | InvestmentIncomePriorYear |
| Investment Income Current Year | 0 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 0 | OtherRevenuePriorYear |
| Other Revenue Current Year | 0 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 19391798 | TotalRevenuePriorYear |
| Total Revenue Current Year | 17990043 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 0 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 0 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 6694916 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 7190690 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 0 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 10829127 | OtherExpensePriorYear |
| Other Expenses Current Year | 7525189 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 17524043 | TotalExpensesPriorYear |
| Total Expenses Current Year | 14715879 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 1867755 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 3274164 | RevenuesLessExpensesCY |
| Total Assets BOY | 318780138 | TotalAssetsBOY |
| Total Assets EOY | 339003127 | TotalAssetsEOY |
| Total Liabilities BOY | 292906085 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 308461512 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 25874053 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 30541615 | NetAssetsOrFundBalancesEOY |
| Mission Description | TO PROMOTE THRIFT AMONG AND CREATE A SOURCE OF CREDIT FOR MEMBERS. | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Description | THE CREDIT UNION PROVIDES CONSUMER LOANS, SHARE AND SHARE DRAFT ACCOUNTS, SHARE CERTIFICATES AND OTHER EXEMPT FUNCTION ACTIVITIES TO ITS MEMBERS. | Description |
| Described In501 C3 | 0 | DescribedIn501C3 |
| Schedule B Required | 0 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Subject To Proxy Tax | 0 | SubjectToProxyTax |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 0 | CreditCounseling |
| Term Or Permanent Endowments | 0 | TermOrPermanentEndowments |
| Report Land Bldg Equip | 1 | ReportLandBldgEquip |
| Report Invest Oth Securities | 1 | ReportInvestOthSecurities |
| Report Prog Rel Invest | 0 | ReportProgRelInvest |
| Report Other Assets | 0 | ReportOtherAssets |
| Report Other Liabilities | 1 | ReportOtherLiabilities |
| Report Fin48 Footnote | 0 | ReportFin48Footnote |
| Independent Audit Financial Stmt | 1 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 0 | ConsolidatedAuditFinancialStmt |
| School | 0 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 0 | ForeignActivities |
| More Than5000 K To Organizations | 0 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 0 | ProfessionalFundraising |
| Fundraising Activities | 0 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 0 | GrantsToOrganizations |
| Grants To Individuals | 0 | GrantsToIndividuals |
| Schedule J Required | 1 | ScheduleJRequired |
| Tax Exempt Bonds | 0 | TaxExemptBonds |
| Loan To Officer Or DQP | 0 | LoanToOfficerOrDQP |
| Grant To Related Person | 0 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 0 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 0 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 0 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 0 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 0 | DisregardedEntity |
| Related Entity | 0 | RelatedEntity |
| Related Org Controlled Entity | 0 | RelatedOrgControlledEntity |
| Transaction Related Entity | 0 | TransactionRelatedEntity |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 5314 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | 1 | ComplianceWithBackupWitholding |
| Number Of Employees | 100 | NumberOfEmployees |
| Employment Tax Returns Filed | 1 | EmploymentTaxReturnsFiled |
| Unrelated Business Income | 1 | UnrelatedBusinessIncome |
| Form990-T Filed | 1 | Form990-TFiled |
| Foreign Financial Account | 0 | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributions |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOf |
| Indoor Tanning Services | 0 | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 7 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 7 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 0 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 0 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 0 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 1 | MembersOrStockholders |
| Election Of Board Members | 1 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 0 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 1 | MinutesOfCommittees |
| Officer Mailing Address | 0 | OfficerMailingAddress |
| Local Chapters | 1 | LocalChapters |
| Policies Reference Chapters | 1 | PoliciesReferenceChapters |
| Form990 Provided To Governing Body | 1 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 1 | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | 1 | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | 1 | RegularMonitoringEnforcement |
| Whistleblower Policy | 1 | WhistleblowerPolicy |
| Document Retention Policy | 1 | DocumentRetentionPolicy |
| Compensation Process CEO | 1 | CompensationProcessCEO |
| Compensation Process Other | 1 | CompensationProcessOther |
| Investment In Joint Venture | 0 | InvestmentInJointVenture |
| Other Website | X | OtherWebsite |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | HAROLD DEGUZMAN | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 4085313236 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 5890 SILVER CREEK VALLEY RD | AddressLine1 |
| City | SAN JOSE | City |
| State | CA | State |
| ZIP Code | 95138 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (14 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | OfficerOfficer | Key EmployeeKeyEmployee | Highest Compensated EmployeeHighestCompensatedEmployee |
|---|---|---|---|---|---|---|---|---|
| ROBERT BRYANT | ||||||||
| CHAIRMAN | 1.00 | X | 0 | 0 | 2969 | |||
| LYLE CHAMBERS | ||||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 3114 | |||
| JAMES CRAWFORD | ||||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |||
| DR RODGER CRYER | ||||||||
| SECRETARY | 1.00 | X | 0 | 0 | 8494 | |||
| MICHAEL F FILICE JR | ||||||||
| VICE CHAIRPERSON | 1.00 | X | 0 | 0 | 5139 | |||
| HENRY MANAYAN | ||||||||
| TREASURER | 1.00 | X | 0 | 0 | 6313 | |||
| GERALD WELTZIN | ||||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 5690 | |||
| CRAIG WEBER | ||||||||
| CEO | 40.00 | 315533 | 0 | 188359 | X | |||
| HAROLD DEGUZMAN | ||||||||
| CFO | 40.00 | 197441 | 0 | 14723 | X | |||
| LISA BROWN | ||||||||
| VP, HUMAN RESOURCE DEVELOP | 40.00 | 172034 | 0 | 515 | X | |||
| RICHARD SANDENAW | ||||||||
| VP, OPERATIONS AND LENDING | 40.00 | 157161 | 0 | 11151 | X | |||
| JAMES BOYLE | ||||||||
| VP, MARKETING | 40.00 | 144168 | 0 | 14723 | X | |||
| ED MACHADO | ||||||||
| VP, IT AND SUPPORT SERVICE | 40.00 | 145254 | 0 | 14723 | X | |||
| MANUEL CARINO | ||||||||
| AVP, IT | 40.00 | 101317 | 0 | 12492 | X | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 1232908 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 288405 | TotalOtherCompensation |
| Number Individuals GT100 K | 7 | NumberIndividualsGT100K |
| Formers Listed | 0 | FormersListed |
| Total Comp GT150 K | 1 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (5 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| ANTHEM BLUE CROSS OF CALIFORNIA | |||||
| PO BOX 60000- FILE 2953 | SAN FRANCISCO | CA | 941602953 | HEALTH CARE INSURANCE PROVIDER | 378468 |
| KAISER FOUNDATION HEALTH PLAN INC | |||||
| PO BOX 60000- FILE 73030 | SAN FRANCISCO | CA | 941603030 | HEALTH CARE INSURANCE PROVIDER | 316334 |
| XP SYSTEMS CORPORATION | |||||
| 75 REMITTANCE DR SUITE 6963 | CHICAGO | IL | 606756963 | CORE SYSTEM PROCESSOR | 262203 |
| ACI WORLDWIDE CORPORATION | |||||
| 6060 COVENTRY DRIVE | ELKHORN | NE | 68022 | INTERNET BANKING PROVIDER | 238532 |
| BUSINESS DATA INC | |||||
| 321 NORTH OAK STREET | INGLEWOOD | CA | 90302 | MEMBER STATEMENT PROCESSING | 154845 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 7 | NumberOfContractorsGT100K |
Program Service Revenue ProgramServiceRevenue (2 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome | Unrelated Business RevenueUnrelatedBusinessRevenue |
|---|---|---|---|---|
| PROGRAM SERVICE REVENU | 522100 | 17879706 | 17879706 | |
| UNRELATED BUSINESS INC | 900099 | 110337 | 110337 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 17990043 | TotalProgramServiceRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 17990043 | TotalRevenueColumn |
| Related Or Exempt Function Income | 17879706 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 110337 | UnrelatedBusinessRevenue |
| Exclusion | $0 | ExclusionAmount |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1521313 | Total |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 4283344 | Total |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 150720 | Total |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 832076 | Total |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 403237 | Total |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 15123 | Total |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 40800 | Total |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 663614 | Total |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 7598 | Total |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1117685 | Total |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 33305 | Total |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 75407 | Total |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 717454 | Total |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 276881 | Total |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 138478 | Total |
Other Expenses OtherExpenses (2 entries)
| DescriptionDescription | TotalTotal |
|---|---|
| OPERATING EXPENSES | 3577279 |
| PROVISION FOR LOAN LOSS | 861565 |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 14715879 | Total |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2236516 | BOY |
| EOY | 1485793 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 38934012 | BOY |
| EOY | 44767746 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 198229803 | BOY |
| EOY | 191860087 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 24938287 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 10207992 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 15179146 | BOY |
| EOY | 14730295 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 53775661 | BOY |
| EOY | 73382873 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 10425000 | BOY |
| EOY | 12776333 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 318780138 | BOY |
| EOY | 339003127 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2243173 | BOY |
| EOY | 3588355 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 290662912 | BOY |
| EOY | 304873157 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 292906085 | BOY |
| EOY | 308461512 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Do Not Follow SFAS117 | X | DoNotFollowSFAS117 |
Cap Stck Trst Prin Current Funds CapStckTrstPrinCurrentFunds
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Paid In Cap Srpls Land Bldg Eqp Fund PaidInCapSrplsLandBldgEqpFund
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Retained Earnings Endowment Etc RetainedEarningsEndowmentEtc
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 25874053 | BOY |
| EOY | 30541615 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 25874053 | BOY |
| EOY | 30541615 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 318780138 | BOY |
| EOY | 339003127 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | 3274164 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | 1393398 | ReconcilationOtherChanges |
| Info In Schedule O Part XII | X | InfoInScheduleOPartXII |
| Method Of Accounting Cash | X | MethodOfAccountingCash |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 1 | FSAudited |
| Audit Committee | 1 | AuditCommittee |
| Financial Statement Separate | X | FinancialStatementSeparate |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequired |
Schedule D IRS990ScheduleD
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 1189220 | OtherCostOrOtherBasis |
| Book Value | 1189220 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 15635930 | OtherCostOrOtherBasis |
| Depreciation | 3225735 | Depreciation |
| Book Value | 12410195 | BookValue |
Leasehold Improvements LeaseholdImprovements
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 1026444 | OtherCostOrOtherBasis |
| Depreciation | 547294 | Depreciation |
| Book Value | 479150 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 6639193 | OtherCostOrOtherBasis |
| Depreciation | 5994029 | Depreciation |
| Book Value | 645164 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 447500 | OtherCostOrOtherBasis |
| Depreciation | 440934 | Depreciation |
| Book Value | 6566 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 14730295 | TotalOfBookValueLandBuildings |
Other Securities OtherSecurities (2 entries)
| DescriptionDescription | Book ValueBookValue | Method Of ValuationMethodOfValuation |
|---|---|---|
| AVAILABLE-FOR-SALE | 64209571 | F |
| OTHER INVESTMENTS | 9173302 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Securities | 73382873 | TotalOfBookValueSecurities |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | MEMBERS' SHARE AND SAVINGS ACCOUNTS | Description |
| Amount | $304,873,157 | Amount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 304873157 | TotalOfAmounts |
| Total Revenue | 17990043 | TotalRevenue |
| Total Expenses | 14715879 | TotalExpenses |
| Excess Or Deficit For Year | 3274164 | ExcessOrDeficitForYear |
| Other | $1,393,398 | OtherAmount |
| Total Adjustments | 1393398 | TotalAdjustments |
| Excess Or Deficit Per FS | 4667562 | ExcessOrDeficitPerFS |
| Tot Revenue Etc Audited Fincl Stmt | 17990043 | TotRevenueEtcAuditedFinclStmt |
| Revenue Not Rptd F990 | 0 | RevenueNotRptdF990 |
| Revenue Subtotal | 17990043 | RevenueSubtotal |
| Revenue Not Rptd On Fin Stmt | 0 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 17990043 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 14715879 | TotExpensesEtcAuditedFinclStmt |
| Expenses Not Rptd F990 | 0 | ExpensesNotRptdF990 |
| Expenses Subtotal | 14715879 | ExpensesSubtotal |
| Expenses Not Rptd On Fin Stmt | 0 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 14715879 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | PART XI, LINE 8 - OTHER ADJUSTMENTS: | Identifier |
| Explanation | CHANGE IN UNREALIZED GAIN ON SECURITIES AVAILABLE FOR SALE 1,393,398. | Explanation |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | X | TravelForCompanions |
| Club Dues Or Fees | X | ClubDuesOrFees |
| Written Policy Re T And E Expenses | 1 | WrittenPolicyReTAndEExpenses |
| Substantiation Required | 1 | SubstantiationRequired |
| Compensation Committee | X | CompensationCommittee |
| Independent Consultant | X | IndependentConsultant |
| Written Employment Contract | X | WrittenEmploymentContract |
| Compensation Survey | X | CompensationSurvey |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | 0 | SeverancePayment |
| Supplemental Nonqual Retire Plan | 1 | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | 0 | EquityBasedCompArrangement |
Form990 Schedule J Part II Form990ScheduleJPartII (6 entries)
| Base Compensation Filing OrgBaseCompensationFilingOrg | Comp Based On Related OrgsCompBasedOnRelatedOrgs | Bonus Filing OrgBonusFilingOrg | Bonus Related OrgsBonusRelatedOrgs | Other Compensation Filing OrgOtherCompensationFilingOrg | Other Compensation Related OrgsOtherCompensationRelatedOrgs | Deferred Comp Filing OrgDeferredCompFilingOrg | Deferred Comp Related OrgsDeferredCompRelatedOrgs | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Nontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgs | Total Compensation Filing OrgTotalCompensationFilingOrg | Total Compensation Related OrgsTotalCompensationRelatedOrgs | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrg | Comp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| CRAIG WEBER | |||||||||||||
| 312683 | 0 | 1331 | 0 | 1519 | 0 | 174135 | 0 | 14224 | 0 | 503892 | 0 | 0 | 0 |
| HAROLD DEGUZMAN | |||||||||||||
| 196113 | 0 | 857 | 0 | 471 | 0 | 0 | 0 | 14723 | 0 | 212164 | 0 | 0 | 0 |
| LISA BROWN | |||||||||||||
| 170743 | 0 | 754 | 0 | 537 | 0 | 0 | 0 | 515 | 0 | 172549 | 0 | 0 | 0 |
| RICHARD SANDENAW | |||||||||||||
| 156501 | 0 | 660 | 0 | 0 | 0 | 0 | 0 | 11151 | 0 | 168312 | 0 | 0 | 0 |
| JAMES BOYLE | |||||||||||||
| 143640 | 0 | 528 | 0 | 0 | 0 | 0 | 0 | 14723 | 0 | 158891 | 0 | 0 | 0 |
| ED MACHADO | |||||||||||||
| 144625 | 0 | 629 | 0 | 0 | 0 | 0 | 0 | 14723 | 0 | 159977 | 0 | 0 | 0 |
Form990 Schedule J Part III Form990ScheduleJPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Reference | PART I, LINE 4B | ReturnReference |
| Explanation | THE CREDIT UNION CONTRIBUTED $174,135 TO A DEFERRED COMPENSATION PLAN ON BEHALF OF MR. CRAIG WEBER. ALTHOUGH NO ACTUAL PAYMENT WAS MADE TO MR. WEBER AND WHILE MR. WEBER IS NOT FULLY VESTED IN THE PLAN, THE IRS REQUIRES DISCLOSURE, "WHETHER OR NOT FUNDED, VESTED, QUALIFIED OR UNQUALIFIED, OR SUBJECT TO A SUBSTANTIAL RISK OF FORFEITURE". | Explanation |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (8 entries)
| Return ReferenceReturnReference | ExplanationExplanation | IdentifierIdentifier |
|---|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | CREDIT UNION DEPOSITORS ARE CONSIDERED MEMBERS OF THE CREDIT UNION. | |
| FORM 990, PART VI, SECTION A, LINE 7A | BOARD OF DIRECTORS ARE ELECTED BY THE MEMBERSHIP. | |
| FORM 990, PART VI, SECTION B, LINE 11 | A COPY OF THE FORM 990 WILL BE SENT TO THE BOARD OF DIRECTORS FOR REVIEW PRIOR TO THE ACTUAL FILING. | |
| FORM 990, PART VI, SECTION B, LINE 12C | IN ACCORDANCE WITH OUR BOARD POLICY, PERSONNEL POLICIES AND NON-DISCLOSURE/CONFIDENTIALITY AGREEMENT (THAT CONTAINS A CONFLICT OF INTEREST CLAUSE), COMMONWEALTH EMPLOYEES ARE REQUIRED TO DISCLOSE THE FOLLOWING INFORMATION UPON HIRE AND AT ANY TIME DURING THEIR EMPLOYMENT: - EMPLOYEE AND RELATIVE ACCOUNTS: UPON HIRE AND THEN ON AN ANNUAL BASIS, ALL EMPLOYEES ARE REQUIRED TO COMPLETE A FORM DISCLOSING ANY MEMBER ACCOUNTS BELONGING TO THEM AND/OR THEIR FAMILY MEMBERS. - CONFLICTING OUTSIDE EMPLOYMENT: IN CONJUNCTION WITH THEIR OFFER OF EMPLOYMENT LETTERS, NEW EMPLOYEES ARE REQUIRED TO SIGN A NON-DISCLOSURE/CONFIDENTIALITY AGREEMENT WHICH INCLUDES A CONFLICT OF INTEREST CLAUSE RELATING TO OUTSIDE EMPLOYMENT. ADDITIONALLY, NEW AND EXISTING EMPLOYEES ARE REQUIRED TO REPORT TO THEIR MANAGER ANY OUTSIDE EMPLOYMENT SO THAT THE CEO AND VP OF HUMAN RESOURCE DEVELOPMENT CAN DETERMINE IF A CONFLICT OF INTEREST EXISTS. - CONFLICT OF INTEREST: AS REQUIRED BY COMMONWEALTH'S CODE OF ETHICAL CONDUCT, ALL EMPLOYEES MUST DISCLOSE AND REPORT TO THE PRESIDENT/CEO ANY POSSIBLE CONFLICT OF INTEREST IN THEIR BUSINESS DEALINGS. FURTHERMORE, ALL EMPLOYEES ARE REQUIRED TO DISCLOSE TO THE PRESIDENT/CEO ANY GIFTS, GRATUITIES, AMENITIES, MEALS, ENTERTAINMENT, ETC. TO DETERMINE WHETHER OR NOT ACCEPTANCE OF SUCH ITEMS WOULD BE DEEMED A CONFLICT OF INTEREST. | |
| FORM 990, PART VI, SECTION B, LINE 15 | COMMONWEALTH RETAINS AN OUTSIDE COMPENSATION CONSULTING FIRM, KG & ASSOCIATES, TO ASSIST IN ITS SALARY ADMINISTRATION EFFORTS. SPECIFICALLY, KG & ASSOCIATES WORKS WITH THE PRESIDENT/CEO AND THE VP OF HUMAN RESOURCE DEVELOPMENT TO DEVELOP A COMPREHENSIVE COMPENSATION STRUCTURE THAT INCLUDES ANNUAL MARKET EVALUATIONS, SALARY GRADE STRUCTURE AND AN INTEGRATED JOB DESCRIPTION DATABASE. THE CURRENT COMPENSATION STRUCTURE WAS INITIALLY DEVELOPED AND IMPLEMENTED IN 2003. SINCE THEN, THE STRUCTURE HAS BEEN MAINTAINED AND ADMINISTERED BY THE CREDIT UNION'S HUMAN RESOURCES DEPARTMENT WITH THE ASSISTANCE OF KG & ASSOCIATES USING A COMPENSATION SOFTWARE PACKAGE. ON AN ANNUAL BASIS, KG & ASSOCIATES PARTICIPATES (ON BEHALF OF COMMONWEALTH) IN AT LEAST 10 SALARY SURVEYS FOR USE IN BENCHMARKING PAY DATA WITH MARKET RATES. THE PAY RANGES ARE ADJUSTED ANNUALLY TO REFLECT CHANGES IN MARKET CONDITIONS AND THE RANGES INCORPORATE GEOGRAPHIC WAGE DIFFERENTIALS. THE VP OF HUMAN RESOURCES PROVIDES OVERSIGHT TO THE HUMAN RESOURCES STAFF IN SALARY ADMINISTRATION PRACTICES BY UTILIZING ALL OF THE ABOVE-MENTIONED RESOURCES PROVIDED BY KG & ASSOCIATES. FURTHERMORE, THE HR DEPARTMENT ADMINISTERS COMPENSATION THROUGH THE MANAGEMENT OF COMPARATIOS. (THE COMPARATIO IS A MATHEMATICAL CALCULATION THAT IDENTIFIES THE RELATIONSHIP BETWEEN ACTUAL PAY AND MARKET RATE FOR A PERSON, DEPARTMENT OR THE TOTAL CREDIT UNION. FOR EXAMPLE, A 90% COMPARATIO FOR AN INDIVIDUAL SAYS THAT THE INDIVIDUAL IS BEING PAID AT 90% OF THE PREVAILING MARKET RATE FOR HIS/HER JOB. THE COMPARATIO IS DETERMINED BY DIVIDING ACTUAL PAY BY THE RATE ESTABLISHED AS THE MID-POINT FOR THE GRADE.) AS MARKET CONDITIONS NECESSITATE, A MID-YEAR REVIEW OF THE COMPENSATION STRUCTURE'S MARKET COMPETITIVENESS IS CONDUCTED WITH THE ASSISTANCE OF KG & ASSOCIATES. EXECUTIVE COMPENSATION PRACTICES ALSO EMPLOY THE SAME METHODOLOGIES AS OUTLINED ABOVE, AND KG & ASSOCIATES PROVIDES GUIDANCE AND RECOMMENDATIONS AS NEEDED. PAY GRADES AND RANGES ARE ESTABLISHED FOR EACH SENIOR MANAGEMENT LEVEL POSITION AND COMPARATIOS ARE ALSO USED WITH SUCH POSITIONS. KG & ASSOCIATES ALSO PROVIDES CONSULTING SERVICES FOR THE CEO'S COMPENSATION PACKAGE BY EMPLOYING THE SAME METHODOLOGIES (I.E. PAY GRADE, PAY RANGE, SALARY SURVEYS, COMPARATIOS, ETC.) WHEN WORKING WITH THE BOARD'S COMPENSATION COMMITTEE MEMBERS. | |
| FORM 990, PART VI, SECTION C, LINE 19 | GOVERNING DOCUMENTS AND CREDIT UNION POLICIES ARE AVAILABLE UPON REQUEST. FINANCIAL STATEMENTS ARE PUBLICLY AVAILABLE ON A WEBSITE MAINTAINED BY THE CREDIT UNION'S FEDERAL REGULATORS. | |
| FORM 990, PART XI, LINE 5: | CHANGE IN UNREALIZED GAIN ON SECURITIES AVAILABLE FOR SALE 1,393,398. TOTAL TO FORM 990, PART XI, LINE 5: 1,393,398. | CHANGES IN NET ASSETS OR FUND BALANCES: |
| FORM 990, PART XII, LINE 2C: | THE SUPERVISORY COMMITTEE OVERSEES THE AUDITED FINANCIAL STATEMENTS. |