Prospera Credit Union

Appleton, WIUnknown exempt organizationSince 1934EIN 39-0744917

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A member-owned, not-for-profit, cooperative financial institution.

$2.0M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

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 $1.3M a year · 7% 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
$2.0M
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
12 mo
of spending, in cash
Looks good: 12.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $21K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$333.8M
91% of total assets
Concern: liabilities are 91% of assets; over 80%.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$23.8M
+10% vs prior year
Spent
$23.3M
Net assets
$31.0M
By yearFY2020–FY2024
Revenue
$23.8M
FY2024▲ +10%
Revenue by fiscal year
FY2020$14.7M
FY2021$15.4M
FY2022$16.9M
FY2023$21.7M
FY2024$23.8M
Expenses
$23.3M
FY2024▲ +7%
Expenses by fiscal year
FY2020$12.6M
FY2021$12.8M
FY2022$15.6M
FY2023$21.7M
FY2024$23.3M
Net assets
$31.0M
FY2024▲ +3%
Net assets by fiscal year
FY2020$27.2M
FY2021$30.0M
FY2022$29.9M
FY2023$30.0M
FY2024$31.0M

From the FY2024 Form 990 · see the original

Give Claim

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

19 people listed on the 990; $2.0M paid to officers and key staff.

Part VII, Section A · reportable compensation
$501,977Pt VII · Sec A
$257,954Pt VII · Sec A
$241,532Pt VII · Sec A
$208,605Pt VII · Sec A
$171,622Pt VII · Sec A
VP Commercial Lending
$130,756Pt VII · Sec A
Financial Advisor
$118,282Pt VII · Sec A
VP Digital Services
$117,611Pt VII · Sec A

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

NameFY2024FY2023FY2022FY2021FY2020
Sheila Schinke$501,977————
Sheila M Schinke—$395,645$363,598$303,040$293,195
Jeff Garrett——$314,268$168,878$201,138
John Schemm—$162,395$276,031$145,129$143,142
Michelle McClelland$257,954$214,831$203,666$179,292$181,109
Todd Thiel$241,532$226,842$106,288——
Kari Christoph$208,605$169,114$163,697$146,926$140,094
Kristina Flores$171,622$169,109$151,061$125,969$122,198

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 II2 listed

Programs and updates

Provides financial services through a member-owned cooperative.

Provided by the organization

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1 program service, described in the organization's own filed words · FY2024.
01

The organization operates as a financial cooperative serving and owned by its members.

Pt IX · col B

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Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2023
Total grants receivedfrom 1 funder$21K
Grants paid · 2 grants · $50K · 2021–2023

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$23.8M
Ln 12
Fees for servicesLn 2g$20.0M
Investment incomeLn 3$3.8M
Money outPt IX
$23.3M
Ln 25
Owns and owesPt X
$31.0M
net assets · Ln 32
Cash and savingsLn 1–2$23.9M
Total assetsLn 16$364.8M
LiabilitiesLn 26$333.8M
PeoplePt VI, VII
19
listed · VII A
PaidVII A10
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$20.0M
Investment incomeLn 3$3.8M
Gains on assetsLn 7$1K
Total revenueLn 12$23.8M
Assets in detailPt X, end of year
CashLn 1$5.2M
SavingsLn 2$18.7M
Cash and savings togetherLn 1–2$23.9M
InvestmentsLn 11–13$16.5M
Land, buildings, equipmentLn 10c$9.0M
Other assetsLn 15$7.2M
Total assetsLn 16$364.8M
LiabilitiesLn 26$333.8M
Net assetsLn 32$31.0M
OperationsPt I, VI
EmployeesI 5109
VolunteersI 60
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$21.4M$23.9M
InvestmentsLn 11–13$22.9M$16.5M
Land, buildings, equipmentLn 10c$9.2M$9.0M
Total assetsLn 16$376.7M$364.8M
LiabilitiesLn 26$346.7M$333.8M
Net assetsLn 32$30.0M$31.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$1.4M
Other salaries and wagesLn 7$4.9M
Pension plan contributionsLn 8$399K
Other employee benefitsLn 9$1.0M
Payroll taxesLn 10$484K
Management feesLn 11a$166K
Legal feesLn 11b$36K
Accounting feesLn 11c$80K
Advertising and promotionLn 12$660K
Office expensesLn 13$818K
Information technologyLn 14$1.1M
OccupancyLn 16$561K
TravelLn 17$15K
Conferences, conventions and meetingsLn 19$500
InterestLn 20$3.4M
Depreciation, depletion and amortizationLn 22$595K
InsuranceLn 23$52K
Other expenses (24a–d)Ln 24$7.3M
All other expensesLn 24e$271K
Total functional expensesLn 25$23.3M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $23.8M$23.3M$552K$31.0M 990 PDF
FY2023 $21.7M$21.7M$56K$30.0M 990 PDF
FY2022 $16.9M$15.6M$1.3M$29.9M 990 PDF
FY2021 $15.4M$12.8M$2.6M$30.0M 990 PDF
FY2020 $14.7M$12.6M$2.1M$27.2M 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 (4 parts)
Part VIII · Statement of revenue $23,802,447 across 5 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $20,020,790 · Unrelated business $19,540$20,040,330
VIII-3 Investment incomeRelated to mission $20,620 · Excluded from tax $3,742,547$3,763,167
VIII-6 Net rental income or lossRelated to mission −$676 · Unrelated business −$1,374−$2,050
VIII-7 Net gain or loss on sales of assetsRelated to mission $1,000$1,000
VIII-12 Total revenueRelated to mission $20,041,734 · Unrelated business $18,166 · Excluded from tax $3,742,547$23,802,447
Part IX · Statement of functional expenses $23,250,312 across 19 lines filed
IX-5 Pay of current officers, directors and key staff$1,381,690
IX-7 Other salaries and wages$4,905,548
IX-8 Pension plan contributions$398,941
IX-9 Other employee benefits$1,045,548
IX-10 Payroll taxes$484,164
IX-11a Management fees$166,173
IX-11b Legal fees$36,478
IX-11c Accounting fees$80,246
IX-12 Advertising and promotion$659,623
IX-13 Office expenses$817,636
IX-14 Information technology$1,063,330
IX-16 Occupancy$561,334
IX-17 Travel$15,483
IX-19 Conferences, conventions and meetings$500
IX-20 Interest$3,369,040
IX-22 Depreciation, depletion and amortization$594,681
IX-23 Insurance$52,026
IX-24 Other expenses (24a–d)$7,346,834
IX-24e All other expenses$271,037
IX-25 Total functional expenses$23,250,312
Part X · Balance sheet $364,845,312 assets, 16 lines filed
Asset lines not itemized here account for $305,387,501; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $5,385,335$5,237,118
X-2 Savings and temporary cash investmentsStart of year $16,022,997$18,663,076
X-4 Accounts receivableStart of year $230,866$2,655,559
X-9 Prepaid expenses and deferred chargesStart of year $275,683$212,544
X-10c Land, buildings and equipment, netStart of year $9,245,561$8,971,275
X-11 Publicly traded securitiesStart of year $11,183,757$10,998,287
X-12 Other securitiesStart of year $5,957,055$119,805
X-13 Program-related investmentsStart of year $5,757,713$5,418,084
X-15 Other assetsStart of year $6,142,340$7,182,063
X-16 Total assetsStart of year $376,683,794$364,845,312
X-17 Accounts payable and accrued expensesStart of year $7,579,940$4,967,862
X-19 Deferred revenueStart of year $0$10,986
X-25 Other liabilitiesStart of year $317,630,652$313,852,767
X-26 Total liabilitiesStart of year $346,710,592$333,831,615
X-32 Total net assets or fund balancesStart of year $29,973,202$31,013,697
X-33 Total liabilities and net assetsStart of year $376,683,794$364,845,312
Part XI · Reconciliation of net assets $31,013,697 net assets at year end
XI-1 Total revenue$23,802,447
XI-2 Total expenses$23,250,312
XI-3 Revenue less expenses$552,135
XI-4 Net assets at start of year$29,973,202
XI-5 Net unrealized gains (losses) on investments$488,360
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$31,013,697

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

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