Sunmark Credit Union: Nonprofit Profile, Financials & Form 990 (EIN 14-1364933)

Jerilee Beaudoin’s $442K as President/CEO is at the 72nd percentile of top reported officer pay among 232 $10–100M public & societal benefit nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

Name	FY2024	FY2023	FY2022	FY2021	FY2020
Frank Degraw	$302,392	$536,457	$544,800	$466,202	$422,815
Jerilee Beaudoin	$442,279	$237,348	$203,906	$189,099	—
Elizabeth Jacobsen	—	—	—	$311,349	$392,457
Lindsay Tedesco	—	—	—	—	$386,461
Amanda St George	—	—	—	$343,695	$365,542
Vikas Muktavaram	$332,280	$259,244	—	—	—
Antoinette Lebron	—	$220,152	$254,749	$292,785	$230,035
Johanna Robbins	$95,546	$282,576	$210,932	—	—

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

Family or business ties among officersPt VI · Ln 2No
Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Builds value and enriches members' lives through collaboration.

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2 programs · in their own filed words · FY2024

01

Sunmark credit union offers a variety of lending programs designed to meet the financing needs of our members. These products include: mortgages, vehicles, commercial, credit cards and personal loans. During 2024, the credit union granted over 36,000 low interest rate loans totaling more than $217 million.

Pt IX · col B

02

Sunmark credit union offers various deposit products to support the financial health and well-being of each member. These products provide competitive dividend rates, 24/7 access to funds and easy transfer options.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking

Grants paid · 9 grants · $262K · 2020–2024

Sunmark Charitable Community FoundationNY · FY2024$55,000

Capital Region Chamber Foundation INCNY · FY2024$17,500

Sunmark Charitable Community FoundationNY · FY2023$55,000

Capital Region Chamber Foundation INCNY · FY2023$17,500

Sunmark Charitable Community FoundationNY · FY2022$50,000

Capital Region Chamber Foundation INCNY · FY2021$16,500

Sunmark Charitable Community FoundationNY · FY2020$25,000

Capital Region Chamber Foundation INCNY · FY2020$16,000

Troy Rehabilitation and Improvement Program INCNY · FY2020$10,000

By the numbers

The FY2024 990, line by line.

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1The main four

Money inPt VIII

$78.5M

Ln 12

Fees for servicesLn 2g$74.4M

Investment incomeLn 3$4.1M

Money outPt IX

$72.7M

Ln 25

Owns and owesPt X

$96.6M

net assets · Ln 32

Cash and savingsLn 1–2$69.1M

Total assetsLn 16$1.1B

LiabilitiesLn 26$1.0B

PeoplePt VI, VII

24

listed · VII A

PaidVII A18

Voting boardVI 1a9

IndependentVI 1b9

2In more detail

Revenue in detailPt VIII

Fees for servicesLn 2g$74.4M

Investment incomeLn 3$4.1M

Gains on assetsLn 7$1.3M

Total revenueLn 12$78.5M

Assets in detailPt X, end of year

CashLn 1$11.4M

SavingsLn 2$57.6M

Cash and savings togetherLn 1–2$69.1M

InvestmentsLn 11–13$28.2M

Land, buildings, equipmentLn 10c$25.3M

Other assetsLn 15$34.9M

Total assetsLn 16$1.1B

LiabilitiesLn 26$1.0B

Net assetsLn 32$96.6M

OperationsPt I, VI

EmployeesI 5330

VolunteersI 617

Fiscal year endsHeaderDecember

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY24	End FY24
Cash and savingsLn 1–2	$31.6M	$69.1M
InvestmentsLn 11–13	$17.7M	$28.2M
Land, buildings, equipmentLn 10c	$28.2M	$25.3M
Total assetsLn 16	$1.16B	$1.15B
LiabilitiesLn 26	$1.07B	$1.05B
Net assetsLn 32	$89.7M	$96.6M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$72K
Benefits paid to or for membersLn 4	$17.9M
Pay of current officers, directors and key staffLn 5	$2.5M
Other salaries and wagesLn 7	$16.9M
Pension plan contributionsLn 8	$746K
Other employee benefitsLn 9	$3.3M
Payroll taxesLn 10	$1.4M
Legal feesLn 11b	$121K
Accounting feesLn 11c	$205K
Other fees for servicesLn 11g	$5.0M
Advertising and promotionLn 12	$1.5M
Office expensesLn 13	$8.2M
OccupancyLn 16	$2.0M
TravelLn 17	$387K
InterestLn 20	$639K
Depreciation, depletion and amortizationLn 22	$2.6M
Other expenses (24a–d)Ln 24	$9.1M
Total functional expensesLn 25	$72.7M

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024 Latest Viewing	$78.5M	$72.7M	$5.8M	$96.6M	990 PDF
FY2023	$72.9M	$67.6M	$5.3M	$89.7M	990 PDF
FY2022	$62.5M	$58.2M	$4.2M	$84.5M	990 PDF
FY2021	$61.8M	$54.8M	$7.0M	$81.1M	990 PDF
FY2020	$68.1M	$52.0M	$16.0M	$71.8M	990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support J · Pay O · Explanations

See the full FY2024 990 (6 parts)

Part I · Summary $78,480,506 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $0$0

I-9 Program service revenuePrior year $71,247,885$74,440,799

I-10 Investment incomePrior year $1,905,772$4,094,058

I-11 Other revenuePrior year −$270,879−$54,351

I-12 Total revenuePrior year $72,882,778$78,480,506

I-13 Grants and similar amounts paidPrior year $72,500$72,500

I-14 Benefits paid to membersPrior year $12,351,896$17,921,193

I-15 Salaries and benefitsPrior year $24,298,926$24,880,843

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $30,846,567$29,797,252

I-18 Total expensesPrior year $67,569,889$72,671,788

I-19 Revenue less expensesPrior year $5,312,889$5,808,718

Part VI · Governance 9 of 9 board members independent, no flags

VI-1a Voting members of the governing body9

VI-1b Independent voting members9

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

VI-15a Process for setting top official's payYes

Part VIII · Statement of revenue $78,480,506 across 5 lines filed

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $74,354,923 · Unrelated business $85,876$74,440,799

VIII-3 Investment incomeExcluded from tax $2,745,155$2,745,155

VIII-7 Net gain or loss on sales of assetsExcluded from tax $1,348,903$1,348,903

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission −$54,351−$54,351

VIII-12 Total revenueRelated to mission $74,300,572 · Unrelated business $85,876 · Excluded from tax $4,094,058$78,480,506

Part IX · Statement of functional expenses $72,671,788 across 17 lines filed

IX-1 Grants to domestic organizations$72,500

IX-4 Benefits paid to or for members$17,921,193

IX-5 Pay of current officers, directors and key staff$2,499,310

IX-7 Other salaries and wages$16,939,954

IX-8 Pension plan contributions$745,926

IX-9 Other employee benefits$3,271,159

IX-10 Payroll taxes$1,424,494

IX-11b Legal fees$120,594

IX-11c Accounting fees$204,569

IX-11g Other fees for services$5,035,040

IX-12 Advertising and promotion$1,478,669

IX-13 Office expenses$8,238,972

IX-16 Occupancy$1,961,420

IX-17 Travel$386,923

IX-20 Interest$639,396

IX-22 Depreciation, depletion and amortization$2,633,139

IX-24 Other expenses (24a–d)$9,098,530

IX-25 Total functional expenses$72,671,788

Part X · Balance sheet $1,145,184,782 assets, 14 lines filed

Asset lines not itemized here account for $968,280,658; see the IRS return.

X-1 Cash, non-interest-bearingStart of year $11,004,458$11,446,615

X-2 Savings and temporary cash investmentsStart of year $20,608,873$57,626,606

X-4 Accounts receivableStart of year $14,376,577$11,760,520

X-9 Prepaid expenses and deferred chargesStart of year $3,378,435$7,715,641

X-10c Land, buildings and equipment, netStart of year $28,183,034$25,278,817

X-12 Other securitiesStart of year $10,513,275$22,434,444

X-13 Program-related investmentsStart of year $7,159,334$5,734,535

X-15 Other assetsStart of year $30,909,879$34,906,946

X-16 Total assetsStart of year $1,157,564,809$1,145,184,782

X-17 Accounts payable and accrued expensesStart of year $15,353,530$8,544,958

X-25 Other liabilitiesStart of year $1,006,034,878$1,032,999,682

X-26 Total liabilitiesStart of year $1,067,888,408$1,048,544,640

X-32 Total net assets or fund balancesStart of year $89,676,401$96,640,142

X-33 Total liabilities and net assetsStart of year $1,157,564,809$1,145,184,782

Part XI · Reconciliation of net assets $96,640,142 net assets at year end

XI-1 Total revenue$78,480,506

XI-2 Total expenses$72,671,788

XI-3 Revenue less expenses$5,808,718

XI-4 Net assets at start of year$89,676,401

XI-9 Other changes in net assets$1,155,023

XI-10 Net assets at end of year$96,640,142

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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