Greater Nevada Credit Union
- Assets
- $1.8b
- Revenue
- $81.6m
- Investments
- $6.8m
- Employees
- 454
- Location
- Carson City, NV
- Founding
- 09/2016
- Data as of
- 12/2022
- EIN
- 88-0063808
Organization Overview
Greater Nevada Credit Union is located in Carson City, NV. The organization was established in 2016. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2022, Greater Nevada Credit Union employed 454 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Nevada 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 12/2022, Greater Nevada Credit Union generated $81.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 8.4% each year. All expenses for the organization totaled $78.7m during the year ending 12/2022. While expenses have increased by 10.0% per year over the past 8 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 2014, Greater Nevada Credit Union has awarded 63 individual grants totaling $2,313,648. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE QUALITY FINANCIAL SERVICES TO MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FINANCIAL SERVICES - BANKING ACTIVITIES, INCLUDING LOANS AND DEPOSITS. TOTAL MEMBERSHIP TO THE CREDIT UNION GREW TO 85,373 IN 2022, AN INCREASE OF 4,090 FOR THE YEAR. DURING 2022, THE CREDIT UNION AND ITS AFFILIATES FUNDED $333 MILLION IN CONSUMER LOANS.
MORTGAGE SERVICES - ORIGINATING, SELLING, AND SERVICING OF REAL ESTATE MORTGAGES. DURING 2022, THE CREDIT UNION FUNDED $179 MILLION IN MORTGAGE LOANS.
COMMERCIAL LENDING - ORIGINATING, SELLING, AND SERVICING OF COMMERCIAL LOANS. DURING 2022, THE CREDIT UNION FUNDED $326 MILLION IN COMMERCIAL LOANS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Wallace Murray President/ceo | Officer | 40 | $756,953 |
James Anderson Evp/mortgage Lending | Officer | 40 | $357,601 |
Jeremy Gilpin Evp/commercial Lending | Officer | 40 | $318,952 |
Joyce Whitney-Silva - Evpcfo Thru 10/22/audit Liasion As Of 10/22 | Officer | 40 | $287,867 |
Sher Dehorney VP Of Mortgage Operations | 40 | $287,483 | |
Doreen Lorinczi VP Of Commercial Production | 40 | $279,485 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fiserv Core Processor Services | 12/30/22 | $2,163,879 |
Shaheen Beauchamp Builders Construction | 12/30/22 | $1,953,952 |
Thomas Financial Loan Placement | 12/30/22 | $1,423,290 |
Q2 Software Online Banking Software | 12/30/22 | $921,039 |
Monigle Marketing/outside Services | 12/30/22 | $883,219 |
Financial Statements
| 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 | $74,163,508 |
| Investment income | $6,698,974 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $199,815 |
| Net Gain/Loss on Asset Sales | -$933 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $81,598,679 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $893,899 |
| Grants and other assistance to domestic individuals. | $60,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $3,358,794 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $18,189,400 |
| Pension plan accruals and contributions | $596,110 |
| Other employee benefits | $3,489,911 |
| Payroll taxes | $1,739,716 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $306,937 |
| Fees for services: Accounting | $214,261 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $117,540 |
| Fees for services: Other | $4,095,259 |
| Advertising and promotion | $3,213,987 |
| Office expenses | $3,242,851 |
| Information technology | $2,071,996 |
| Royalties | $0 |
| Occupancy | $2,367,621 |
| Travel | $486,826 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $238,901 |
| Interest | $4,296,010 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,014,611 |
| Insurance | $184,928 |
| All other expenses | $5,698,077 |
| Total functional expenses | $78,661,196 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $49,708,920 |
| Savings and temporary cash investments | $83,171,301 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $2,250,000 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,233,111,222 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,322,505 |
| Net Land, buildings, and equipment | $51,216,260 |
| Investments—publicly traded securities | $232,376,518 |
| Investments—other securities | $6,832,079 |
| Investments—program-related | $4,334,378 |
| Intangible assets | $2,440,171 |
| Other assets | $99,437,170 |
| Total assets | $1,767,200,524 |
| Accounts payable and accrued expenses | $17,369,933 |
| 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 | $85,422,458 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,546,958,389 |
| Total liabilities | $1,649,750,780 |
| 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 | $117,449,744 |
| Total liabilities and net assets/fund balances | $1,767,200,524 |
Grants Awarded
Over the last fiscal year, Greater Nevada Credit Union has awarded $782,848 in support to 18 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN RED CROSS OF NORTHERN NEVADA PURPOSE: SUPPORT COMMUNITIES IN NEVADA & CALIFORNIA DURING THE WILDFIRES | $10,000 |
CHILDREN'S MIRACLE NETWORK HOSPITAL PURPOSE: SPONSOR THE CA/NV CREDIT UNIONS FOR KIDS WINE AUCTION | $21,200 |
AUDACITY INSTITUTE LLC PURPOSE: SUPPORT FOR START-UP MINORITY AND WOMEN ENTREPRENEURS | $12,500 |
EDDY HOUSE PURPOSE: SUPPORT HOMELESS TEENS WITH FOOD AND SHELTER | $102,310 |
FOOD BANK OF NORTHERN NEVADA PURPOSE: GENERAL SUPPORT | $8,750 |
RENO FOOD SYSTEM PURPOSE: SUPPORT FARMING PROGRAM | $10,000 |