Desert Financial Credit Union is located in Phoenix, AZ. As of 12/2021, Desert Financial Credit Union employed 1,416 individuals. Desert Financial Credit Union is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.
For the year ending 12/2021, Desert Financial Credit Union generated $333.2m in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 23.6% each year . All expenses for the organization totaled $245.8m during the year ending 12/2021. While expenses have increased by 14.6% per year over the past 2 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Desert Financial Credit Union has awarded 99 individual grants totaling $2,036,240. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
AT DESERT FINANCIAL, RELATIONSHIPS DRIVE SUCCESS. WE SHARE OUR FINANCIAL SUCCESS BECAUSE WE BELIEVE IT'S THE RIGHT THING TO DO FOR OUR MEMBERS, OUR COMMUNITY AND OUR TEAM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INCOME FROM THE CREDIT UNION MEMBERSHIP AND FROM THE INVESTMENT OF MEMBERS' FUNDS PROVIDE THE FOUNDATION FROM WHICH THE ORGANIZATION CAN FUNCTION AND PROVIDE SERVICES TO ITS RESTRICTED MEMBERSHIP.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Jeffrey D Meshey CEO | Officer | 40 | $1,411,835 |
Jeffrey S Butler Ceo-Switchthink Solutions | Officer | 40 | $889,964 |
Rondle K Amstutz Executive VP | Officer | 40 | $693,185 |
Cathleen Graham Executive VP | Officer | 40 | $644,874 |
Gary Sneed SVP Chief Lending Officer | Officer | 40 | $534,535 |
Stephen Jordan Chief Revenue Officer | 40 | $531,922 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Anderson Moss Llc Dba Anderson Advertis Marketing | 12/30/21 | $4,432,667 |
Google Inc Marketing | 12/30/21 | $2,965,089 |
Fiserv Inc Data Processing | 12/30/21 | $6,177,775 |
Alkami Technology Inc Digital Banking Platform | 12/30/21 | $2,288,256 |
Personix Data Processing | 12/30/21 | $1,833,425 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $0 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
Total Program Service Revenue | $229,462,154 |
Investment income | $68,552,336 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | -$129,882 |
Net Gain/Loss on Asset Sales | $653,740 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $333,222,725 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $1,236,500 |
Grants and other assistance to domestic individuals. | $0 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $6,493,026 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $92,898,787 |
Pension plan accruals and contributions | $7,864,885 |
Other employee benefits | $3,704,294 |
Payroll taxes | $6,631,422 |
Fees for services: Management | $0 |
Fees for services: Legal | $1,041,218 |
Fees for services: Accounting | $354,422 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $6,411,193 |
Advertising and promotion | $14,003,269 |
Office expenses | $5,074,088 |
Information technology | $4,420,177 |
Royalties | $0 |
Occupancy | $5,713,635 |
Travel | $378,058 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $591,800 |
Interest | $34,273,825 |
Payments to affiliates | $365,808 |
Depreciation, depletion, and amortization | $9,086,090 |
Insurance | $10,930,152 |
All other expenses | -$1,230,329 |
Total functional expenses | $245,780,903 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $7,520,119 |
Savings and temporary cash investments | $593,593,441 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $9,303,199 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $2,701,948,283 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $6,368,623 |
Net Land, buildings, and equipment | $71,768,086 |
Investments—publicly traded securities | $4,482,591,522 |
Investments—other securities | $60,730,354 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $272,549,723 |
Total assets | $8,206,373,350 |
Accounts payable and accrued expenses | $91,136,568 |
Grants payable | $0 |
Deferred revenue | $0 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $200,000,000 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $7,143,195,360 |
Total liabilities | $7,434,331,928 |
Net assets without donor restrictions | $0 |
Net assets with donor restrictions | $0 |
Capital stock or trust principal, or current funds | $0 |
Paid-in or capital surplus, or land, building, or equipment fund | $0 |
Retained earnings, endowment, accumulated income, or other funds | $772,041,422 |
Total liabilities and net assets/fund balances | $8,206,373,350 |
Over the last fiscal year, Desert Financial Credit Union has awarded $1,186,500 in support to 43 organizations.
Grant Recipient | Amount |
---|---|
Phoenix, AZ PURPOSE: LAPTOPS 4 LEARNING FUNDRAISER, YC FOUNDATION CTE SCHOLARSHIP, DF GOLF TOURNAMENT SPONSOR, FUNDRAISER MATCH, SCHOLARSHIPS | $286,300 |
Phoenix, AZ PURPOSE: PLATINUM SPONSORSHIP, AZ ED FOUNDATION SPONS 2022 | $75,000 |
Dallas, TX PURPOSE: PHX HEARTWALK SPONSERSHIP | $65,000 |
Prescott Valley, AZ PURPOSE: TURKEY MATCH | $50,000 |
Mesa, AZ PURPOSE: RANDOM ACTS OF KINDNESS | $50,000 |
Flagstaff, AZ PURPOSE: RANDOM ACTS OF KINDNESS | $50,000 |
Over the last fiscal year, we have identified 1 grants that Desert Financial Credit Union has recieved totaling $7,500.
Awarding Organization | Amount |
---|---|
Fiesta Events Inc Scottsdale, AZ PURPOSE: EVENT SPONSORSHIP | $7,500 |
Organization Name | Assets | Revenue |
---|---|---|
Integris Baptist Medical Center Inc Oklahoma City, OK | $2,058,378,701 | $1,074,971,636 |
Western Governors University Salt Lake City, UT | $621,679,021 | $1,020,118,520 |
Scott & White Clinic Dallas, TX | $177,643,392 | $977,412,932 |
Driscoll Childrens Health Plan Corpus Christi, TX | $460,782,364 | $1,055,125,455 |
Woodmen Of The World Life Insurance Society Omaha, NE | $11,463,649,522 | $1,020,619,814 |
Asante Medford, OR | $2,030,793,202 | $1,067,000,527 |
Healthtexas Provider Network Dallas, TX | $268,335,548 | $958,731,143 |
Camp Bowie Service Center Oakland, CA | $146,481,054 | $935,370,038 |
Compassion International Incorporated Colorado Springs, CO | $364,011,907 | $953,223,395 |
Texas Christian University Fort Worth, TX | $4,250,111,470 | $1,168,273,968 |
Childrens Hospital Of Orange County Orange, CA | $1,359,092,221 | $992,003,540 |
Southern California Schools Voluntary Employees Benefits Assoc San Diego, CA | $183,534,319 | $919,105,914 |