CREDIT UNIONS IN THE STATE OF WASHINGTON: Form 990, tax year 2011
View the entire original 990 at ProPublica ↗
- Organization
- CREDIT UNIONS IN THE STATE OF WASHINGTON (EIN 91-0557925)
- Tax period
- 2011-01-01 to 2011-12-31
- Filed
- 2012-11-14
- IRS object ID
- 201233209349300723
- 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 | 2012-11-14T17:27:42-06:00 | Timestamp |
| Tax Period End Date | 2011-12-31 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SHANNON & ASSOCIATES LLP | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1851 CENTRAL PLACE SOUTH SUITE 225 | AddressLine1 |
| City | KENT | City |
| State | WA | State |
| ZIP Code | 980307507 | 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 | 910557925 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SOUND CREDIT UNION | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | SOUN | NameControl |
| Phone | 2535977603 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 1595 | AddressLine1 |
| City | TACOMA | City |
| State | WA | State |
| ZIP Code | 98401 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | RUSSELL GOWRYLOW | Name |
| Title | SENIOR VP/CFO | Title |
| Phone | 2535977603 | Phone |
| Date Signed | 2012-11-13 | DateSigned |
| Authorize Third Party | true | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | ANDREW RAYMOND | Name |
| Phone | 2538528500 | Phone |
| Date Prepared | 2012-11-14 | DatePrepared |
| 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 | RICHARD BRANDSMA | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 1595 | AddressLine1 |
| City | TACOMA | City |
| State | WA | State |
| ZIP Code | 98401 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 58080966 | GrossReceipts |
| Group Return For Affiliates | false | GroupReturnForAffiliates |
| Organization501c | X | Organization501c |
| Web Site | WWW.SOUNDCU.COM | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1940 | YearFormation |
| State Legal Domicile | WA | StateLegalDomicile |
| Activity Or Mission Description | A MEMBER OWNED COOPERATIVE PROVIDING FINANCIAL SERVICES, INCLUDING LOANS AND SHARE DEPOSITS TO ITS MEMBERS. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 12 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 12 | NbrIndependentVotingMembers |
| Total Nbr Employees | 275 | TotalNbrEmployees |
| Total Nbr Volunteers | 15 | TotalNbrVolunteers |
| Total Gross UBI | 267253 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | -13836 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Current Year | 0 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 28855579 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 36859182 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 5094192 | InvestmentIncomePriorYear |
| Investment Income Current Year | 3921623 | InvestmentIncomeCurrentYear |
| Other Revenue Current Year | 806486 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 33949771 | TotalRevenuePriorYear |
| Total Revenue Current Year | 41587291 | TotalRevenueCurrentYear |
| Grants And Similar Amnts CY | 0 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 5286868 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 3498275 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 8684029 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 11199175 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 0 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 14389382 | OtherExpensePriorYear |
| Other Expenses Current Year | 18470249 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 28360279 | TotalExpensesPriorYear |
| Total Expenses Current Year | 33167699 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 5589492 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 8419592 | RevenuesLessExpensesCY |
| Total Assets BOY | 544191702 | TotalAssetsBOY |
| Total Assets EOY | 1038302758 | TotalAssetsEOY |
| Total Liabilities BOY | 490356444 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 962097465 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 53835258 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 76205293 | NetAssetsOrFundBalancesEOY |
| Mission Description | A MEMBER OWNED COOPERATIVE PROVIDING FINANCIAL SERVICES, INCLUDING LOANS AND SHARE DEPOSITS TO ITS MEMBERS. | MissionDescription |
| Significant New Program Services | false | SignificantNewProgramServices |
| Significant Change | false | SignificantChange |
| Description | ON THE LIABILITY/EQUITY SIDE OF THE BALANCE SHEET OUR MEMBERS HOLD 177,079 SAVINGS, CHECKING AND MONEY MARKET DEPOSIT ACCOUNTS WITH COMBINED BALANCES OF 606,695,631. MEMBERS HOLD 2,015 IRA SAVINGS ACCOUNTS WITH COMBINED BALANCES OF 21,088,056. THESE FUNDS ARE POOLED AND USED PRIMARILY TO FUND CONSUMER AND REAL ESTATE SECURED LOANS TO OUR MEMBERSHIP. | Description |
Activity2 Activity2
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | ALSO ON THE LIABILITY/EQUITY SIDE OF THE BALANCE SHEET, 9,294 OF OUR MEMBERS HOLD CERTIFICATE ACCOUNTS WITH TOTAL BALANCES OF 208,647,243 AND 4,024 HOLD IRA SAVINGS CERTIFICATES WITH A TOTAL OF 82,025,962 | Description |
Activity3 Activity3
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | ON THE ASSET SIDE, 47,920 OF OUR MEMBERS HOLD CONSUMER LOANS THAT INCLUDE VEHICLE, STUDENT, MORTGAGE AND VISA LOANS. CONSUMER LOANS THAT INCLUDE VEHICLE SECURED LOANS TOTALS 271,585,654. REAL ESTATE SECURED LOANS TOTAL 307,026,600. THE LOAN PORTFOLIO TOTALS 578,612,254. | Description |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Described In501 C3 | false | DescribedIn501C3 |
| Schedule B Required | false | ScheduleBRequired |
| Political Activities | false | PoliticalActivities |
| Subject To Proxy Tax | false | SubjectToProxyTax |
| Donor Advised Funds | false | DonorAdvisedFunds |
| Conservation Easements | false | ConservationEasements |
| Collections Of Art | false | CollectionsOfArt |
| Credit Counseling | false | CreditCounseling |
| Term Or Permanent Endowments | false | TermOrPermanentEndowments |
| Report Land Bldg Equip | true | ReportLandBldgEquip |
| Report Invest Oth Securities | false | ReportInvestOthSecurities |
| Report Prog Rel Invest | false | ReportProgRelInvest |
| Report Other Assets | false | ReportOtherAssets |
| Report Other Liabilities | true | ReportOtherLiabilities |
| Report Fin48 Footnote | false | ReportFin48Footnote |
| Independent Audit Financial Stmt | false | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | false | ConsolidatedAuditFinancialStmt |
| School | false | School |
| Foreign Office | false | ForeignOffice |
| Foreign Activities | false | ForeignActivities |
| More Than5000 K To Organizations | false | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividuals |
| Professional Fundraising | false | ProfessionalFundraising |
| Fundraising Activities | false | FundraisingActivities |
| Gaming | false | Gaming |
| Hospital | false | Hospital |
| Grants To Organizations | false | GrantsToOrganizations |
| Grants To Individuals | false | GrantsToIndividuals |
| Schedule J Required | true | ScheduleJRequired |
| Tax Exempt Bonds | false | TaxExemptBonds |
| Loan To Officer Or DQP | false | LoanToOfficerOrDQP |
| Grant To Related Person | false | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | false | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | false | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | false | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | false | DeductibleNonCashContributions |
| Deductible Contributions Of Art | false | DeductibleContributionsOfArt |
| Terminated | false | Terminated |
| Partial Liquidation | false | PartialLiquidation |
| Disregarded Entity | false | DisregardedEntity |
| Related Entity | true | RelatedEntity |
| Related Org Controlled Entity | false | RelatedOrgControlledEntity |
| Transaction Related Entity | false | TransactionRelatedEntity |
| Activities Conducted Partnership | false | ActivitiesConductedPartnership |
| Schedule O Required | true | ScheduleORequired |
| Number Forms Transmitted With1096 | 10069 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | true | ComplianceWithBackupWitholding |
| Number Of Employees | 275 | NumberOfEmployees |
| Employment Tax Returns Filed | true | EmploymentTaxReturnsFiled |
| Unrelated Business Income | true | UnrelatedBusinessIncome |
| Form990-T Filed | true | Form990-TFiled |
| Foreign Financial Account | false | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTrans |
| Taxable Party Notification | false | TaxablePartyNotification |
| Non Deductible Contributions | false | NonDeductibleContributions |
| Indoor Tanning Services | false | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 12 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 12 | NumberIndependentVotingMembers |
| Family Or Business Relationship | false | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | false | DelegationOfManagementDuties |
| Changes To Organizing Docs | false | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuse |
| Members Or Stockholders | false | MembersOrStockholders |
| Election Of Board Members | true | ElectionOfBoardMembers |
| Decisions Subject To Approval | true | DecisionsSubjectToApproval |
| Minutes Of Governing Body | true | MinutesOfGoverningBody |
| Minutes Of Committees | true | MinutesOfCommittees |
| Officer Mailing Address | false | OfficerMailingAddress |
| Local Chapters | true | LocalChapters |
| Policies Reference Chapters | true | PoliciesReferenceChapters |
| Form990 Provided To Governing Body | true | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | true | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | true | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | true | RegularMonitoringEnforcement |
| Whistleblower Policy | true | WhistleblowerPolicy |
| Document Retention Policy | true | DocumentRetentionPolicy |
| Compensation Process CEO | true | CompensationProcessCEO |
| Compensation Process Other | true | CompensationProcessOther |
| Investment In Joint Venture | false | InvestmentInJointVenture |
| Other Website | X | OtherWebsite |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | RUSSELL GOWRYLOW | NamePerson |
| Telephone Number | 2535977603 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1331 BROADWAY PLAZA | AddressLine1 |
| City | TACOMA | City |
| State | WA | State |
| ZIP Code | 98401 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (22 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 |
|---|---|---|---|---|---|---|---|---|
| ROBYN LACHANCE | ||||||||
| VP-MARKETING | 40.00 | X | 123126 | 0 | 15385 | |||
| DAN FIORINO | ||||||||
| VP-SPECIAL P | 40.00 | X | 114385 | 0 | 27890 | |||
| KEITH MOCK | ||||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |||
| BRENDA HEINEMAN | ||||||||
| CHAIRMAN | 1.00 | X | 0 | 0 | 0 | X | ||
| DAVE WASSON | ||||||||
| VICE CHAIRMA | 1.00 | X | 0 | 0 | 0 | X | ||
| DURANT HEHR | ||||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |||
| NORM PARSONS | ||||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |||
| GARY EMMONS | ||||||||
| SECRETARY/TR | 1.00 | X | 0 | 0 | 0 | X | ||
| RICHARD BRENTIN | ||||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |||
| DENNIS OKAMOTO | ||||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |||
| JOANNE ENGLE | ||||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |||
| CAROLYN IBLINGS | ||||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |||
| ROY MCINTOSH | ||||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |||
| MARK POGUE | ||||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |||
| ROBERT VALENTINE | ||||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |||
| KEVIN BANNON | ||||||||
| CHAIR | 1.00 | X | 0 | 0 | 0 | |||
| KENNETH KOBES | ||||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |||
| RICK BRANDSMA | ||||||||
| PRESIDENT & | 40.00 | 2160411 | 0 | 79653 | X | |||
| RUSSELL GOWRYLOW | ||||||||
| VP FINANCE/C | 40.00 | 250313 | 0 | 61476 | X | |||
| DENISE REAGAN | ||||||||
| EXECUTIVE VP | 40.00 | 853122 | 0 | 57489 | X | |||
| CARL ROER | ||||||||
| VP-LENDING | 40.00 | 170714 | 0 | 26492 | X | |||
| CHRIS SHENKEL | ||||||||
| VP-BRANCH OP | 40.00 | 154118 | 0 | 26949 | X | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 3826189 | TotalReportableCompFromOrg |
| Total Other Compensation | 295334 | TotalOtherCompensation |
| Number Individuals GT100 K | 7 | NumberIndividualsGT100K |
| Formers Listed | false | FormersListed |
| Total Comp GT150 K | true | TotalCompGT150K |
| Compensation From Other Sources | false | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (5 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| CHICAGO TITLE COMPANY | |||||
| 701 5TH AVENUE SUITE 2300 | SEATTLE | WA | 98104 | APPRAISALS | 858850 |
| HHJ INC | |||||
| 1409 ALEXANDER AVENUE E | FIFE | WA | 98424 | REMODELS | 660585 |
| KAYE-SMITH | |||||
| PO BOX 956 | RENTON | WA | 98057 | PRINTING/MAIL | 265497 |
| INUIT FINANCIAL SERVICES | |||||
| PO BOX 515306 | LOS ANGELES | CA | 900516606 | ELECTRONIC BANK | 245747 |
| CLEAR CHANNEL OUTDOOR | |||||
| PO BOX 742025 | LOS ANGELES | CA | 900742025 | ADVERTISING | 179504 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 7 | NumberOfContractorsGT100K |
Program Service Revenue ProgramServiceRevenue (5 entries)
| DescriptionDescription | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome | Business CodeBusinessCode | Unrelated Business RevenueUnrelatedBusinessRevenue |
|---|---|---|---|---|
| TOTAL LOAN INCOME | 24005803 | 24005803 | ||
| FEES AND CHARGES | 7831938 | 7831938 | ||
| INTERCHANGE | 4022075 | 4022075 | ||
| MISCELLANEOUS INCOME | 732113 | 732113 | ||
| ATM FEE INCOME | 114738 | 522100 | 114738 |
Total Oth Program Service Revenue TotalOthProgramServiceRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 152515 | TotalRevenueColumn |
| Unrelated Business Revenue | 152515 | UnrelatedBusinessRevenue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 36859182 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 3811089 | TotalRevenueColumn |
| Exclusion | $3,811,089 | ExclusionAmount |
Gross Amount Sales Assets GrossAmountSalesAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 16604209 | Securities |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 16493675 | Securities |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 110534 | Securities |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 110534 | TotalRevenueColumn |
| Related Or Exempt Function Income | 110534 | RelatedOrExemptFunctionIncome |
Other Revenue Misc OtherRevenueMisc
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | NON-OPERATING INCOME | Description |
| Total Revenue Column | 806486 | TotalRevenueColumn |
| Related Or Exempt Function Income | 806486 | RelatedOrExemptFunctionIncome |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | 806486 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 41587291 | TotalRevenueColumn |
| Related Or Exempt Function Income | 37508949 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 267253 | UnrelatedBusinessRevenue |
| Exclusion | $3,811,089 | ExclusionAmount |
Benefits To Members BenefitsToMembers
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 3498275 | Total |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 3501357 | Total |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 3495531 | Total |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1117432 | Total |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2404088 | Total |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 680767 | Total |
Fees For Services Management FeesForServicesManagement
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 298738 | Total |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 14467 | Total |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 91560 | Total |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 891651 | Total |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 3364293 | Total |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1019435 | Total |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 180858 | Total |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 41507 | Total |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1024991 | Total |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1172696 | Total |
Other Expenses OtherExpenses (4 entries)
| DescriptionDescription | TotalTotal |
|---|---|
| PROVISION FOR LOAN LOSS | 6882658 |
| LOAN SERVICING | 1325952 |
| MEMBER INSURANCE | 1021252 |
| MP AMORTIZATION OF CDI | 540384 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 599807 | Total |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 33167699 | Total |
| Program Services | 0 | ProgramServices |
| Management And General | 0 | ManagementAndGeneral |
| Fundraising | 0 | Fundraising |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 30634626 | BOY |
| EOY | 88177455 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 5335708 | BOY |
| EOY | 20890964 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3851816 | BOY |
| EOY | 11399564 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 274862751 | BOY |
| EOY | 571098448 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1350083 | BOY |
| EOY | 2078030 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 54455833 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 12169013 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 22811215 | BOY |
| EOY | 42286820 | EOY |
Investments Pub Traded Securities InvestmentsPubTradedSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 194706679 | BOY |
| EOY | 275567703 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 5780200 | BOY |
| EOY | 12584697 | EOY |
Intangible Assets IntangibleAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | 7648468 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 4858624 | BOY |
| EOY | 6570609 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 544191702 | BOY |
| EOY | 1038302758 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 4542883 | BOY |
| EOY | 9999105 | EOY |
Deferred Revenue DeferredRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 533080 | BOY |
| EOY | 136123 | EOY |
Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 25000000 | BOY |
| EOY | 25000000 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 460280481 | BOY |
| EOY | 926962237 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 490356444 | BOY |
| EOY | 962097465 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Do Not Follow SFAS117 | X | DoNotFollowSFAS117 |
Retained Earnings Endowment Etc RetainedEarningsEndowmentEtc
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 53835258 | BOY |
| EOY | 76205293 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 53835258 | BOY |
| EOY | 76205293 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 544191702 | BOY |
| EOY | 1038302758 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | 8419592 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | 13950443 | ReconcilationOtherChanges |
| Info In Schedule O Part XII | X | InfoInScheduleOPartXII |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | false | AccountantCompileOrReview |
| FS Audited | false | FSAudited |
| Federal Grant Audit Required | false | FederalGrantAuditRequired |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Disclosed Orgs Legal Control | false | DisclosedOrgsLegalControl |
| Disclosed For Charitable Purposes | false | DisclosedForCharitablePurposes |
| Written Policy Monitoring | false | WrittenPolicyMonitoring |
| Sect170h Requirements Satisfied | false | Sect170hRequirementsSatisfied |
| Solicited Assets For Sale | false | SolicitedAssetsForSale |
| Agent Trustee Etc | false | AgentTrusteeEtc |
| Included On FS | false | IncludedOnFS |
| Endowments Held By Unrelated Orgs | false | EndowmentsHeldByUnrelatedOrgs |
| Endowments Held By Related Orgs | false | EndowmentsHeldByRelatedOrgs |
| Are Related Orgs Listed Schedule R | false | AreRelatedOrgsListedScheduleR |
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 13036233 | OtherCostOrOtherBasis |
| Book Value | 13036233 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 27246676 | OtherCostOrOtherBasis |
| Depreciation | 3822622 | Depreciation |
| Book Value | 23424054 | BookValue |
Leasehold Improvements LeaseholdImprovements
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 6409959 | OtherCostOrOtherBasis |
| Depreciation | 2870374 | Depreciation |
| Book Value | 3539585 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 7762965 | OtherCostOrOtherBasis |
| Depreciation | 5476017 | Depreciation |
| Book Value | 2286948 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 42286820 | TotalOfBookValueLandBuildings |
Other Liabilities OtherLiabilities (4 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| MEMBER SHARE ACCOUNTS | $918,074,562 |
| CONTINGENT LIABILITIES | $4,040,469 |
| CLEARING ACCOUNTS | $2,994,306 |
| DEFERRED COMP PLAN | $1,852,900 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 926962237 | TotalOfAmounts |
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 | true | WrittenPolicyReTAndEExpenses |
| Substantiation Required | false | SubstantiationRequired |
| Compensation Committee | X | CompensationCommittee |
| Written Employment Contract | X | WrittenEmploymentContract |
| Compensation Survey | X | CompensationSurvey |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | false | SeverancePayment |
| Supplemental Nonqual Retire Plan | false | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | false | EquityBasedCompArrangement |
Form990 Schedule J Part II Form990ScheduleJPartII (5 entries)
| Base Compensation Filing OrgBaseCompensationFilingOrg | Bonus Filing OrgBonusFilingOrg | Other Compensation Filing OrgOtherCompensationFilingOrg | Deferred Comp Filing OrgDeferredCompFilingOrg | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Total Compensation Filing OrgTotalCompensationFilingOrg |
|---|---|---|---|---|---|
| RICK BRANDSMA | |||||
| 432432 | 189000 | 1538979 | 66700 | 12953 | 2240064 |
| RUSSELL GOWRYLOW | |||||
| 146331 | 36308 | 67674 | 44050 | 17426 | 311789 |
| DENISE REAGAN | |||||
| 697508 | 138950 | 16664 | 44050 | 13439 | 910611 |
| CARL ROER | |||||
| 138012 | 32702 | 15364 | 11128 | 197206 | |
| CHRIS SHENKEL | |||||
| 112730 | 32038 | 9350 | 12653 | 14296 | 181067 |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (10 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| EXPLANATION ON VOLUNTEERS AND TYPES OF SERVICES OR BENEFITS | FORM 990, PAGE 1, PART I, LINE 6 | THE CREDIT UNION'S VOLUNTEERS CONSIST OF THE ORGANIZATION'S BOARD MEMBERS AND SUPERVISORY COMMITTEE MEMBERS. |
| ELECTION OF MEMBERS AND THEIR RIGHTS | FORM 990, PAGE 6, PART VI, LINE 7A | THE CREDIT UNION'S MEMBERS HAVE THE RIGHT TO ELECT ONE OR MORE MEMBERS OF THE GOVERNING BODY, WHETHER PERIODICALLY, OR AS VACANCIES ARISE, OR OTHERWISE. |
| DECISIONS SUBJECT TO APPROVAL OF MEMBERS | FORM 990, PAGE 6, PART VI, LINE 7B | MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. |
| ORGANIZATION'S PROCESS USED TO REVIEW FORM 990 | FORM 990, PAGE 6, PART VI, LINE 11B | THE FORM 990 IS PROVIDED TO THE BOARD OF DIRECTORS WHO REVIEW THE FORM PRIOR TO THE RETURN'S FILING. THE BOARD COMPARES THE RETURN TO THE PRIOR YEAR RETURN FOR MATERIAL DIFFERENCES AND SEEKS EXPLANATIONS FOR THOSE DIFFERENCES. TOTALS ARE COMPARED FOR REVENUE, EXPENSES, AND TOTAL ASSETS. EACH STATEMENT IS REVIEWED FOR ACCURACY INCLUDING A REVIEW OF THE EXPLANATIONS DOCUMENTED IN THE RETURN. |
| ENFORCEMENT OF CONFLICTS POLICY | FORM 990, PAGE 6, PART VI, LINE 12C | EMPLOYEES SIGN A STATEMENT REQUIRING THAT THEY MUST DISCLOSE TO THE PRESIDENT & CEO ANY ACTUAL, POTENTIAL, OR PERCEIVED CONFLICTS OF INTEREST BEFORE BEING HIRED. DIRECTORS AND VOLUNTEERS SIGN A "CODE OF ETHICS ACKNOWLEDGEMENT" THAT STATES THEY WILL NOT BE INVOLVED IN SITUATIONS THAT RESULT IN OR COULD BE PERCEIVED TO BE A CONFLICT OF INTEREST. THEY MUST ALSO RECUES THEMSELVES FROM ANY DISCUSSIONS OR PARTICIPATION IN DECISIONS INVOLVING INSTANCES IN WHICH A CONFLICT OF INTEREST EXISTS OR MAY EXIST. THE POLICY MANUAL HAS THREE SECTIONS IN WHICH CONFLICTS OF INTEREST ARE STATED AND THE BOARD APPROVES THE POLICY MANUAL ON AN ANNUAL BASIS. BOTH THE CEO & EVP MONITOR ALL STAFF AND VOLUNTEER ACCOUNTS. IN ADDITION, DURING OUR CERTIFIED AUDIT, ALL STAFF AND VOLUNTEER ACCOUNTS, OR A SAMPLING, ARE REVIEWED FOR POTENTIAL CONFLICTS OF INTEREST. |
| COMPENSATION PROCESS FOR TOP OFFICIAL | FORM 990, PAGE 6, PART VI, LINE 15A | THE EMPLOYEE BENEFITS COMMITTEE, WHICH IS COMPRISED OF 3 BOARD MEMBERS REVIEWS LOCAL SURVEYS, INCLUDING THE ANNUAL MILLIMAN NORTHWEST FINANCIAL INDUSTRY SALARY SURVEY TO DEVELOP A RECOMMENDATION FOR THE BOARD. THE BOARD REVIEWS THE COMMITTEE'S RECOMMENDATION AND APPROVES THE CEO'S COMPENSATION. |
| COMPENSATION PROCESS FOR OFFICERS | FORM 990, PAGE 6, PART VI, LINE 15B | OTHER OFFICER AND KEY EMPLOYEE COMPENSATION IS DETERMINED BY THE CEO AND BECOMES A PART OF THE COMPENSATION RECOMMENDATION DURING THE BUDGET PROCESS. |
| GOVERNING DOCUMENTS DISCLOSURE EXPLANATION | FORM 990, PAGE 6, PART VI, LINE 19 | THE CREDIT UNION'S BYLAWS AND LEGAL DOCUMENTS, FINANCIAL STATEMENTS, AND ANNUAL REPORT, THAT MEMBERS HAVE THE RIGHT TO VIEW, ARE AVAILABLE UPON REQUEST. THE REQUEST MUST BE IN WRITTEN FORM. |
| OTHER CHANGES IN NET ASSETS EXPLANATION | FORM 990, PART XI, LINE 5 | THE INCREASE IN NET ASSET BALANCES RESULTED FROM UNREALIZED GAINS ON AVAILABLE FOR SALE SECURITIES OF 641,827, EQUITY ACQUIRED IN A MERGER TOTALING 13,000,000, AND A PRIOR PERIOD ACCOUNTING ADJUSTMENT OF 308,616. |
| ADDITIONAL INFORMATION | FORM 990, PART XII | THE CREDIT UNION RECEIVED AN AUDIT FOR THE PERIOD ENDED 3/31/12 WHILE THE TAX RETURN PERIOD ENDED 12/31/11. |
Schedule R IRS990ScheduleR
Form990 Schedule R Part IV Form990ScheduleRPartIV
Name Of Related Org NameOfRelatedOrg
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SOUND FINANCIAL GROUP INC | BusinessNameLine1 |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 1595 | AddressLine1 |
| City | TACOMA | City |
| State | WA | State |
| ZIP Code | 98401 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 911263213 | EIN |
| Primary Activity | INSURANCE | PrimaryActivity |
| Legal Domicile State | WA | LegalDomicileState |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SOUND CU | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Type Of Entity | C CORP | TypeOfEntity |
| Share Of Total Income | 149 | ShareOfTotalIncome |
| Share Of EOY Assets | 317 | ShareOfEOYAssets |
| Percentage Ownership | 1.00000 | PercentageOwnership |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Ann Rents Royalties | false | ReceiptOfIntAnnRentsRoyalties |
| Gift Grant Or Cap Contr To Other Org | false | GiftGrantOrCapContrToOtherOrg |
| Gift Grant Or Cap Contr Fr Other Org | false | GiftGrantOrCapContrFrOtherOrg |
| Loans Or Guarantees To Other Org | false | LoansOrGuaranteesToOtherOrg |
| Loans Or Guarantees From Other Org | false | LoansOrGuaranteesFromOtherOrg |
| Sale Of Assets To Other Org | false | SaleOfAssetsToOtherOrg |
| Purchase Of Assets From Other Org | false | PurchaseOfAssetsFromOtherOrg |
| Exchange Of Assets | false | ExchangeOfAssets |
| Rental Of Facilities To Other Orgs | false | RentalOfFacilitiesToOtherOrgs |
| Rental Of Facilities Fr Other Orgs | false | RentalOfFacilitiesFrOtherOrgs |
| Perform Of Services For Other Orgs | false | PerformOfServicesForOtherOrgs |
| Perform Of Services By Other Orgs | false | PerformOfServicesByOtherOrgs |
| Sharing Of Facilities | false | SharingOfFacilities |
| Sharing Of Paid Employees | false | SharingOfPaidEmployees |
| Reimbursement Paid To Other Org | false | ReimbursementPaidToOtherOrg |
| Reimbursement Paid By Other Org | false | ReimbursementPaidByOtherOrg |
| Other Transfer To Other Org | false | OtherTransferToOtherOrg |
| Other Transfer From Other Org | false | OtherTransferFromOtherOrg |