Credit Unions In The State Of Washington
- Assets
- $2.4b
- Revenue
- $155.1m
- Investments
- $0.0
- Employees
- 607
- Location
- Richland, WA
- Founding
- 07/1954
- Data as of
- 12/2023
- EIN
- 91-1792217
Organization Overview
Credit Unions In The State Of Washington is located in Richland, WA. The organization was established in 1954. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. As of 12/2023, Credit Unions In The State Of Washington employed 607 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Credit Unions In The State Of Washington 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 12/2023, Credit Unions In The State Of Washington generated $155.1m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 8.8% each year. All expenses for the organization totaled $121.5m during the year ending 12/2023. While expenses have increased by 7.7% 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.
Since 2015, Credit Unions In The State Of Washington has awarded 146 individual grants totaling $5,698,799. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
HAPO PROVIDES LOW COST SAVINGS VEHICLES WITH SUPERIOR INTEREST RETURN AND LOW INTEREST RATE LOANS TO ITS MEMBERS, WITHOUT CAPITAL STOCK, ORGANIZED AND OPERATED FOR MUTUAL PURPOSES AND WITHOUT PROFIT. NET EARNINGS ARE RETAINED IN ACCORDANCE WITH THE REGULATORY REQUIREMENTS OF THE NCUA AND STATE LAW.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HAPO PROVIDES LOW COST SAVINGS VEHICLES WITH SUPERIOR INTEREST RETURN AND LOW INTEREST RATE LOANS TO OVER 200,000 MEMBERS, WITHOUT CAPITAL STOCK, AND IS ORGANIZED AND OPERATED FOR MUTUAL PURPOSES, CONSISTENT WITH THE PHILOSOPHY OF THE CREDIT UNION MOVEMENT AND THE REGULATORY REQUIREMENTS OF THE NCUA AND STATE LAW. THE NET INCREASE IN RETAINED EARNINGS FROM PROGRAM SERVICES PROVIDES FOR THE SAFETY AND SOUNDNESS OF THE CREDIT UNION IN ACCORDANCE WITH THE REGULATORY REQUIREMENTS OF THE NCUA AND STATE LAW.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kenneth Hohenberg Chairman | OfficerTrustee | 5 | $29,400 |
William Saraceno Director | Trustee | 2 | $27,300 |
Doug Carl Director | Trustee | 2 | $16,000 |
Kenneth Gale Treasurer | OfficerTrustee | 3 | $23,100 |
Richard Cummins Secretary | OfficerTrustee | 3 | $23,100 |
William Clarke Director | Trustee | 2 | $21,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Momentum Construction | 12/30/23 | $4,507,405 |
Ncr Corporation Online Banking And It Software Services | 12/30/23 | $2,774,503 |
Shi International Corp It Software And Hardware Services | 12/30/23 | $1,164,668 |
Strategic Resources Management Inc Professional Services | 12/30/23 | $1,095,643 |
Diebold Atm Machines And Maintenance | 12/30/23 | $1,016,579 |
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 | $143,599,950 |
| Investment income | $10,699,878 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $223,036 |
| Net Rental Income | $306,824 |
| 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 | $294 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $155,133,528 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $719,421 |
| 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. | $7,026,958 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $27,978,768 |
| Pension plan accruals and contributions | $3,022,700 |
| Other employee benefits | $4,984,062 |
| Payroll taxes | $2,874,313 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $120,402 |
| Fees for services: Accounting | $94,789 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,758,688 |
| Advertising and promotion | $1,164,804 |
| Office expenses | $4,557,601 |
| Information technology | $7,256,240 |
| Royalties | $0 |
| Occupancy | $1,962,025 |
| Travel | $486,264 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $480,562 |
| Interest | $19,973,847 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,739,119 |
| Insurance | $380,384 |
| All other expenses | $2,538,994 |
| Total functional expenses | $121,509,931 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $19,960,977 |
| Savings and temporary cash investments | $289,874,587 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $12,318,018 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,870,888,678 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $20,867,069 |
| Net Land, buildings, and equipment | $66,513,495 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $13,259,178 |
| Intangible assets | $0 |
| Other assets | $74,709,969 |
| Total assets | $2,368,391,971 |
| Accounts payable and accrued expenses | $47,889,422 |
| 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 | $140,000,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,946,422,489 |
| Total liabilities | $2,134,311,911 |
| 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 | $234,080,060 |
| Total liabilities and net assets/fund balances | $2,368,391,971 |
Grants Awarded
Over the last fiscal year, Credit Unions In The State Of Washington has awarded $493,308 in support to 18 organizations.
| Grant Recipient | Amount |
|---|---|
ASSOCIATION OF WASHINGTON BUSINESS PURPOSE: SPRING MEETING SPONSORSHIP | $15,000 |
BUILDING INDUSTRY ASSOCIATION OF CLARK COUNTY PURPOSE: VARIOUS EVENT SPONSORSHIPS | $8,500 |
BOYS AND GIRLS CLUB PURPOSE: VARIOUS EVENT SPONSORSHIPS | $17,500 |
CENTRAL WASHINGTON FAIR ASSOCIATION PURPOSE: STATE FAIR SPONSORSHIP | $7,500 |
CITY OF RICHLAND PURPOSE: JOHN DAM PLAZA PARK STAGE AND VARIOUS LOCAL EVENT SPONSORSHIPS | $55,000 |
FRANKLIN COUNTY HAPO CENTER PURPOSE: HAPO CENTER NAMING RIGHTS | $100,000 |