Gowest Credit Union Association
- Assets
- $39.7m
- Revenue
- $14.8m
- Investments
- $13.9m
- Employees
- 65
- Location
- Seatac, WA
- Founding
- 04/1941
- Data as of
- 12/2023
- EIN
- 91-0460483
Organization Overview
Gowest Credit Union Association is located in Seatac, WA. The organization was established in 1941. According to its NTEE Classification (W01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2023, Gowest Credit Union Association employed 65 individuals. This organization is an itermediate organization (such as a geographic headquarters) for a national or regional group of organizations. Gowest Credit Union Association is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2023, Gowest Credit Union Association generated $14.8m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 12.2% each year . All expenses for the organization totaled $12.6m during the year ending 12/2023. While expenses have increased by 11.5% per year over the past 9 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
WORK WITH STATE AND FEDERAL POLICYMAKERS AS WELL AS COALITIONS AND CONSUMER GROUPS TO KEEP CREDIT UNION POWERS STRONG.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED INFORMATION SERVICES, EDUCATION PROGRAMS, AND COORDINATED LEGISLATIVE AND REGULATORY ADVOCACY ACTIVITIES FOR AND ON BEHALF OF ARIZONA, COLORADO, IDAHO, ORGEON, WASHINGTON, AND WYOMING CREDIT UNIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeff Adams Director | Trustee | 3 | $0 |
Stacie Wyss-Schoenborn Director | Trustee | 1 | $0 |
Dan Thurman Director | Trustee | 1 | $0 |
Jennifer Kutcher Vice Chair | Trustee | 1 | $0 |
Jay Curtis Secretary | Trustee | 2 | $0 |
Todd Marksberry Chair | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Farleigh Wada Witt Legal Services | 12/30/18 | $106,510 |
Mindshift It Management & Support | 12/30/18 | $102,772 |
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 | $607,964 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $607,964 |
| Total Program Service Revenue | $12,590,702 |
| Investment income | $795,861 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$326,144 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,757,280 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $1,560,601 |
| Compensation of current officers, directors, key employees. | $234,090 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,968,545 |
| Pension plan accruals and contributions | $1,329,683 |
| Other employee benefits | $524,059 |
| Payroll taxes | $414,223 |
| Fees for services: Management | $38,211 |
| Fees for services: Legal | $89,963 |
| Fees for services: Accounting | $40,141 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $844,019 |
| Advertising and promotion | $17,986 |
| Office expenses | $143,825 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $327,085 |
| Travel | $242,106 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,494,563 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,244 |
| Insurance | $38,980 |
| All other expenses | $0 |
| Total functional expenses | $12,582,939 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $234,800 |
| Savings and temporary cash investments | $6,809,122 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $705,177 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $250,652 |
| Net Land, buildings, and equipment | $185,990 |
| Investments—publicly traded securities | $3,719,078 |
| Investments—other securities | $13,948,955 |
| Investments—program-related | $376,114 |
| Intangible assets | $0 |
| Other assets | $13,421,522 |
| Total assets | $39,651,410 |
| Accounts payable and accrued expenses | $2,971,387 |
| Grants payable | $0 |
| Deferred revenue | $3,673,833 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $7,277,369 |
| Total liabilities | $13,922,589 |
| Net assets without donor restrictions | $22,877,351 |
| Net assets with donor restrictions | $2,851,470 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $39,651,410 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Gowest Credit Union Association Seatac, WA | $39,651,410 | $14,757,280 |
Oneamerica Seattle, WA | $6,430,572 | $4,275,004 |
Oregon Bankers Association Salem, OR | $6,084,242 | $2,290,377 |
Idaho Dairymens Association Inc Twin Falls, ID | $356,493 | $1,996,423 |
Medical Users Software Exchange Inc Spokane, WA | $3,207,964 | $1,747,769 |
Washington Bankers Association Seattle, WA | $3,914,960 | $1,457,261 |
Washington Soft Drink Association Pac Olympia, WA | $482,518 | $433,654 |
Westside Economic Alliance Tigard, OR | $181,869 | $305,552 |
Friends Of Frog Ferry Portland, OR | $636 | $0 |
Post Growth Institute Ashland, OR | $117,509 | $344,134 |
B Local Pdx Portland, OR | $101,903 | $0 |
Portland Peace Initiative Inc Portland, OR | $2,752 | $0 |
350deschutes Bend, OR | $133,283 | $0 |
Alaska Mobility Coalition Anchorage, AK | $35,575 | $0 |
Public Node Portland, OR | $147,584 | $0 |
Peoples Foundation For Better Opportunities Beaverton, OR | $39,167 | $0 |
Redmond Executive Association Foundation Inc Redmond, OR | $28,606 | $0 |
Sustainable Silverton Silverton, OR | $3,109 | $4,743 |