Credit Unions In The State Of California
- Assets
- $2.3b
- Revenue
- $113.0m
- Investments
- $0.0
- Employees
- 361
- Location
- Downey, CA
- Founding
- 00/0000
- Data as of
- 12/2023
- EIN
- 95-1653038
Organization Overview
Credit Unions In The State Of California is located in Downey, CA. The organization was established in 0000. 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 12/2023, Credit Unions In The State Of California employed 361 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Credit Unions In The State Of California 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 California generated $113.0m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 10.0% each year . All expenses for the organization totaled $108.2m during the year ending 12/2023. While expenses have increased by 10.7% 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 California has awarded 38 individual grants totaling $1,108,915. 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
A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THROUGH GRANTS FROM THE CDFI AND THE $35 MILLION IN SUPPLEMENTAL CAPITAL, CONTINUED TO EXPAND LENDING TO LOW AND MODERATE INCOME MEMBERS.
RECEIVED $35,000,000 IN SUPPLEMENTAL CAPITAL LOANS THROUGH THE U.S. TREASURY DEPARTMENT'S EMERGENCY CAPITAL INVESTMENT PROGRAM (ECIP).
RECEIVED ADDITIONAL GRANTS AS A CDFI (COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION) DESIGNATED CREDIT UNION, TO HELP LOW-INCOME COMMUNITIES BY PROVIDING ACCESS TO FINANCIAL PRODUCTS AND SERVICES FOR LOCAL RESIDENTS AND BUSINESSES.
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 |
|---|---|---|---|
Barbara Smith Chairperson | Trustee | 1 | $2,263 |
Yves Pinkowitz Vice Chairperson | Trustee | 1 | $3,074 |
Alan Bergman Treasurer | Trustee | 1 | $3,020 |
Dr William Feaster Secretary | Trustee | 1 | $1,457 |
Ralph Crowther Board Member | Trustee | 1 | $0 |
Donna Clawson Board Member | Trustee | 1 | $1,227 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Js&a Llc Consulting Services | 12/30/18 | $116,203 |
Lavonne Wann Consulting Services | 12/30/18 | $186,016 |
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 | $103,116,266 |
| Investment income | $9,059,891 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $18,392 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $112,970,824 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $94,407 |
| Grants and other assistance to domestic individuals. | $5,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $8,605,944 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $19,163,747 |
| Pension plan accruals and contributions | $1,009,206 |
| Other employee benefits | $2,727,494 |
| Payroll taxes | $2,114,534 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $566,950 |
| Fees for services: Accounting | $481,061 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,859,425 |
| Advertising and promotion | $2,070,710 |
| Office expenses | $4,340,943 |
| Information technology | $3,653,419 |
| Royalties | $0 |
| Occupancy | $3,286,828 |
| Travel | $730,996 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $39,332,099 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,536,873 |
| Insurance | $244,332 |
| All other expenses | $0 |
| Total functional expenses | $108,208,142 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $35,739,994 |
| Savings and temporary cash investments | $78,279,177 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $31,587,497 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,285,620 |
| Net Land, buildings, and equipment | $28,238,777 |
| Investments—publicly traded securities | $185,283,741 |
| Investments—other securities | $0 |
| Investments—program-related | $1,830,764,757 |
| Intangible assets | $0 |
| Other assets | $81,323,377 |
| Total assets | $2,274,502,940 |
| Accounts payable and accrued expenses | $32,045,772 |
| 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 | $2,102,368,971 |
| Total liabilities | $2,134,414,743 |
| 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 | $140,088,197 |
| Total liabilities and net assets/fund balances | $2,274,502,940 |
Grants Awarded
Over the last fiscal year, Credit Unions In The State Of California has awarded $71,164 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
CHILDREN'S MIRACLE NETWORK HOSPITALS PURPOSE: TO ASSIST IN PROVIDING FINANCIAL SUPPORT FOR CHILDREN IN NEED OF MEDICAL CARE. | $25,064 |
CHOC FOUNDATION PURPOSE: TO ASSIST IN PROVIDING RESOURCES THAT NURTURE, ADVANCE AND PROTECT THE WELL-BEING OF CHILDREN. | $22,500 |
NATIONAL CREDIT UNION FOUNDATION PURPOSE: TO ASSIST IN IMPROVING PEOPLE'S FINANCIAL LIVES THROUGH CREDIT UNIONS. | $10,000 |
PIH HEALTH FOUNDATION PURPOSE: TO PROVIDE HIGH-QUALITY HEALTHCARE AND CONTRIBUTE TO THE HEALTH AND WELL-BEING OF COMMUNITIES | $7,500 |
EMPLOYEES COMMUNITY FUND OF BOEING CALIFORNIA PURPOSE: TO HELP INVOLVE BOEING EMPLOYEES IN SUPPORT OF COMMUNITY SERVICES WHERE THEY LIVE AND WORK. | $6,100 |