Valley Communities Credit Union

Mosinee, WIUnknown exempt organizationSince 1935EIN 39-0744482Revenue $13.7M in FY2024

On file with the IRSvalleycommunities.org1105 Western Ave · Mosinee, WI

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Our mission is to build lifelong relationships one member at a time; providing sound financial products and services.

Run by 9 volunteers and 66 employees.
Mission: Form 990 Part I, line 1 · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $1.4M a year · 14% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Pay to officers and key staff
$900K
to officers and key staff · 8% of spending
Looks good: pay to officers and key staff is 8% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
97 mo
of spending, in cash
Looks good: 97.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$217.4M
87% of total assets
Concern: liabilities are 87% of assets; over 80%.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$13.7M
+19% vs prior year
Spent
$11.3M
Net assets
$31.5M
By yearFY2020–FY2024
Revenue
$13.7M
FY2024▲ +19%
Tap a bar for its year
Revenue by fiscal year
FY2020$7.6M
FY2021$7.0M
FY2022$8.5M
FY2023$11.5M
FY2024$13.7M
Expenses
$11.3M
FY2024▲ +18%
Tap a bar for its year
Expenses by fiscal year
FY2020$6.7M
FY2021$6.3M
FY2022$7.3M
FY2023$9.6M
FY2024$11.3M
Net assets
$31.5M
FY2024▲ +8%
Tap a bar for its year
Net assets by fiscal year
FY2020$25.5M
FY2021$26.2M
FY2022$27.3M
FY2023$29.2M
FY2024$31.5M

From the FY2024 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

11 people listed on the 990; $900K paid to officers and key staff.

Part VII, Section A · reportable compensation
$313,368Pt VII · Sec A
$204,082Pt VII · Sec A
$196,142Pt VII · Sec A
$159,319Pt VII · Sec A
$5,814Pt VII · Sec A
$3,716Pt VII · Sec A
Secretary
$3,577Pt VII · Sec A
Vice Chair
$3,577Pt VII · Sec A

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

NameFY2024FY2023FY2022FY2021FY2020
Kelly Hladovcak$313,368$561,091$243,833$235,084$216,639
Randy Leszczynski———$181,713$436,709
Jeffrey Horne$204,082$164,481$153,471$144,646$2,888
Adam Dykman$196,142$161,190$153,052$141,362—
Angela Dinkins$159,319$134,880$125,370$117,533$108,412
William Jaris————$106,948
Robin Mrozinski————$103,157
Gary Engebretson———$9,403$4,912

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
  • Loans to or from officersSch L · Pt II1 listed

Programs and updates

Offers financial products and services to build lasting member relationships.

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1 program · in their own filed words · FY2024
01

Holding deposits for and making loans to members.

Pt IX · col B

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$13.7M
Ln 12
Fees for servicesLn 2g$9.4M
Investment incomeLn 3$4.2M
Money outPt IX
$11.3M
Ln 25
Owns and owesPt X
$31.5M
net assets · Ln 32
Cash and savingsLn 1–2$92.0M
Total assetsLn 16$248.9M
LiabilitiesLn 26$217.4M
PeoplePt VI, VII
11
listed · VII A
PaidVII A11
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$9.4M
Investment incomeLn 3$4.2M
Gains on assetsLn 7−$14K
Total revenueLn 12$13.7M
Assets in detailPt X, end of year
CashLn 1$2.9M
SavingsLn 2$89.1M
Cash and savings togetherLn 1–2$92.0M
InvestmentsLn 11–13$3.9M
Land, buildings, equipmentLn 10c$6.4M
Other assetsLn 15$2.9M
Total assetsLn 16$248.9M
LiabilitiesLn 26$217.4M
Net assetsLn 32$31.5M
OperationsPt I, VI
EmployeesI 566
VolunteersI 69
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
LineStart FY24End FY24
Cash and savingsLn 1–2$85.9M$92.0M
InvestmentsLn 11–13$3.8M$3.9M
Land, buildings, equipmentLn 10c$3.0M$6.4M
Total assetsLn 16$237.7M$248.9M
LiabilitiesLn 26$208.5M$217.4M
Net assetsLn 32$29.2M$31.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$900K
Other salaries and wagesLn 7$3.0M
Pension plan contributionsLn 8$253K
Other employee benefitsLn 9$551K
Payroll taxesLn 10$288K
Legal feesLn 11b$57K
Accounting feesLn 11c$50K
Other fees for servicesLn 11g$199K
Advertising and promotionLn 12$117K
Office expensesLn 13$375K
Information technologyLn 14$1.5M
OccupancyLn 16$161K
TravelLn 17$33K
Conferences, conventions and meetingsLn 19$91K
InterestLn 20$10
Depreciation, depletion and amortizationLn 22$245K
Other expenses (24a–d)Ln 24$3.4M
All other expensesLn 24e$72K
Total functional expensesLn 25$11.3M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $13.7M$11.3M$2.3M$31.5M 990 PDF
FY2023 $11.5M$9.6M$1.8M$29.2M 990 PDF
FY2022 $8.5M$7.3M$1.1M$27.3M 990 PDF
FY2021 $7.0M$6.3M$699K$26.2M 990 PDF
FY2020 $7.6M$6.7M$967K$25.5M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $13,676,935 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $8,013,544$9,446,676
I-10 Investment incomePrior year $3,437,032$4,231,866
I-11 Other revenuePrior year $12,920−$1,607
I-12 Total revenuePrior year $11,463,496$13,676,935
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $4,137,823$5,031,498
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $5,494,347$6,299,774
I-18 Total expensesPrior year $9,632,170$11,331,272
I-19 Revenue less expensesPrior year $1,831,326$2,345,663
Part VI · Governance 7 of 7 board members independent, no flags
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
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 $13,676,935 across 6 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $9,424,926 · Unrelated business $21,750$9,446,676
VIII-3 Investment incomeExcluded from tax $4,245,749$4,245,749
VIII-6 Net rental income or lossRelated to mission −$1,653−$1,653
VIII-7 Net gain or loss on sales of assetsRelated to mission −$13,883−$13,883
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $46$46
VIII-12 Total revenueRelated to mission $9,409,436 · Unrelated business $21,750 · Excluded from tax $4,245,749$13,676,935
Part IX · Statement of functional expenses $11,331,272 across 18 lines filed
IX-5 Pay of current officers, directors and key staff$899,642
IX-7 Other salaries and wages$3,040,014
IX-8 Pension plan contributions$252,934
IX-9 Other employee benefits$550,994
IX-10 Payroll taxes$287,914
IX-11b Legal fees$57,328
IX-11c Accounting fees$50,138
IX-11g Other fees for services$199,005
IX-12 Advertising and promotion$116,530
IX-13 Office expenses$374,601
IX-14 Information technology$1,460,363
IX-16 Occupancy$161,395
IX-17 Travel$32,906
IX-19 Conferences, conventions and meetings$90,681
IX-20 Interest$10
IX-22 Depreciation, depletion and amortization$245,336
IX-24 Other expenses (24a–d)$3,439,413
IX-24e All other expenses$72,068
IX-25 Total functional expenses$11,331,272
Part X · Balance sheet $248,899,349 assets, 14 lines filed
Asset lines not itemized here account for $143,608,251; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $3,925,327$2,901,213
X-2 Savings and temporary cash investmentsStart of year $82,015,057$89,059,342
X-4 Accounts receivableStart of year $18,796$20,640
X-9 Prepaid expenses and deferred chargesStart of year $114,246$112,663
X-10c Land, buildings and equipment, netStart of year $3,040,527$6,442,442
X-12 Other securitiesStart of year $7,990$7,512
X-13 Program-related investmentsStart of year $3,758,296$3,870,635
X-15 Other assetsStart of year $2,727,869$2,876,651
X-16 Total assetsStart of year $237,705,715$248,899,349
X-17 Accounts payable and accrued expensesStart of year $997,700$1,282,270
X-25 Other liabilitiesStart of year $206,863,026$215,516,907
X-26 Total liabilitiesStart of year $208,546,066$217,393,803
X-32 Total net assets or fund balancesStart of year $29,159,649$31,505,546
X-33 Total liabilities and net assetsStart of year $237,705,715$248,899,349
Part XI · Reconciliation of net assets $31,505,546 net assets at year end
XI-1 Total revenue$13,676,935
XI-2 Total expenses$11,331,272
XI-3 Revenue less expenses$2,345,663
XI-4 Net assets at start of year$29,159,649
XI-5 Net unrealized gains (losses) on investments$234
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$31,505,546

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

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