Blue Mountain Credit Union
- Assets
- $53.6m
- Revenue
- $2.3m
- Investments
- $8.0m
- Employees
- 10
- Location
- College Place, WA
- Founding
- 07/1954
- Data as of
- 12/2022
- EIN
- 91-0722102
Organization Overview
Blue Mountain Credit Union is located in College Place, WA. The organization was established in 1954. 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, Blue Mountain Credit Union employed 10 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Blue Mountain 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, Blue Mountain Credit Union generated $2.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 9.6% each year. All expenses for the organization totaled $1.9m during the year ending 12/2022. While expenses have increased by 8.1% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE FINANCIAL SERVICES TO MEMBERS IN ACCORDANCE WITH THE WASHINGTON STATE CREDIT UNION ACT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE FINANCIAL SERVICES TO MEMBERS IN ACCORDANCE WITH THE WASHINGTON STATE CREDIT UNION ACT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Drake President/ceo | Officer | 40 | $204,009 |
Joann Wiggins Board Vice Chair | OfficerTrustee | 1 | $0 |
Susan Brookins Board Chair | OfficerTrustee | 2 | $0 |
Ben Rodriguez Board Member | Trustee | 1 | $0 |
Brian Gomez Board Secretary | OfficerTrustee | 2 | $0 |
Darral Payne Board Member | Trustee | 1 | $0 |
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 | $2,311,126 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,311,126 |
| 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 | $124,831 |
| Compensation of current officers, directors, key employees. | $204,009 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $404,820 |
| Pension plan accruals and contributions | $20,143 |
| Other employee benefits | $83,585 |
| Payroll taxes | $50,085 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,069 |
| Fees for services: Accounting | $52,434 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $34,432 |
| Advertising and promotion | $7,201 |
| Office expenses | $125,555 |
| Information technology | $140,179 |
| Royalties | $0 |
| Occupancy | $79,576 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $13,031 |
| Interest | $7 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $57,327 |
| Insurance | $21,319 |
| All other expenses | $18,941 |
| Total functional expenses | $1,854,596 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,949,710 |
| Savings and temporary cash investments | $40,587 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $777,997 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $38,982,646 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $481,876 |
| Net Land, buildings, and equipment | $931,091 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $8,029,799 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $362,583 |
| Total assets | $53,556,289 |
| Accounts payable and accrued expenses | $125,325 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $31 |
| Total liabilities | $125,356 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $47,938,665 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $5,492,268 |
| Total liabilities and net assets/fund balances | $53,556,289 |