Focus Credit Union

Wauwatosa, WIUnknown exempt organizationEIN 39-1094338

Not for profit financial cooperative thrift which provides financial services to benefit the membership of the organization.

Run by 7 volunteers.
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 $717K a year · 24% 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
$386K
to officers and key staff · 13% of spending
Looks good: pay to officers and key staff is 13% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
38 mo
of spending, in cash
Looks good: 37.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $20K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$52.3M
88% of total assets
Concern: liabilities are 88% 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
$4.0M
+17% vs prior year
Spent
$2.9M
Net assets
$7.1M
By yearFY2020–FY2024
Revenue
$4.0M
FY2024▲ +17%
Revenue by fiscal year
FY2020$2.4M
FY2021$2.4M
FY2022$2.6M
FY2023$3.4M
FY2024$4.0M
Expenses
$2.9M
FY2024▲ +32%
Expenses by fiscal year
FY2020$2.1M
FY2021$2.0M
FY2022$2.0M
FY2023$2.2M
FY2024$2.9M
Net assets
$7.1M
FY2024▲ +19%
Net assets by fiscal year
FY2020$3.9M
FY2021$4.3M
FY2022$4.8M
FY2023$6.0M
FY2024$7.1M

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

9 people listed on the 990; $386K paid to officers and key staff.

Part VII, Section A · reportable compensation
President/CEO
$211,572Pt VII · Sec A
$170,651Pt VII · Sec A
$540Pt VII · Sec A
$540Pt VII · Sec A
Secretary
$495Pt VII · Sec A
Board Member
$450Pt VII · Sec A
Board Member
$450Pt VII · Sec A
Vice Chair
$405Pt VII · Sec A

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

NameFY2024FY2023FY2022FY2021FY2020
Dean Wilson$211,572$180,861———
Dean C Wilson——$185,639——
Kimberly Youngblood$170,651$139,049———
Dean Wilson———$162,722$169,780
Kimberly R Youngblood——$141,834——
Kimberly Youngblood———$124,752$123,503
John Weber$540$585$540——
Kimberly Ashwood$450$450$585——

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

Offers financial services to members, benefiting them collectively.

Provided by the organization

This section is blank until Focus Credit Union claims this page.

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2 program services, described in the organization's own filed words · FY2024.
01

Focus credit union granted 764 member loans during 2024. As of december 31, 2024 fcu had 111 mortgage loans and lines of credit outstanding, 1,232 credit cards outstanding and 2,939 consumer loans and lines of credit outstanding.

Pt IX · col B
02

Focus credit union had deposit, transaction, and investment accounts with 6,650 members. During 2024 fcu opened 242 new member accounts.

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 · FY2024
Total grants receivedfrom 1 funder$20K
Grants paid · 1 grant · $20K · 2024–2024

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$4.0M
Ln 12
Fees for servicesLn 2g$3.6M
Investment incomeLn 3$409K
Other incomeLn 4–11$7K
Money outPt IX
$2.9M
Ln 25
Owns and owesPt X
$7.1M
net assets · Ln 32
Cash and savingsLn 1–2$9.0M
Total assetsLn 16$59.4M
LiabilitiesLn 26$52.3M
PeoplePt VI, VII
9
listed · VII A
PaidVII A9
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$3.6M
Investment incomeLn 3$409K
Other incomeLn 4–11$7K
Total revenueLn 12$4.0M
Assets in detailPt X, end of year
CashLn 1$535K
SavingsLn 2$8.5M
Cash and savings togetherLn 1–2$9.0M
InvestmentsLn 11–13$732K
Land, buildings, equipmentLn 10c$1.4M
Other assetsLn 15$1.8M
Total assetsLn 16$59.4M
LiabilitiesLn 26$52.3M
Net assetsLn 32$7.1M
OperationsPt I, VI
EmployeesI 50
VolunteersI 67
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
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$6.9M$9.0M
InvestmentsLn 11–13$483K$732K
Land, buildings, equipmentLn 10c$1.4M$1.4M
Total assetsLn 16$56.7M$59.4M
LiabilitiesLn 26$50.7M$52.3M
Net assetsLn 32$6.0M$7.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of disqualified personsLn 6$386K
Other salaries and wagesLn 7$484K
Pension plan contributionsLn 8$90K
Other employee benefitsLn 9$108K
Legal feesLn 11b$39K
Accounting feesLn 11c$19K
Other fees for servicesLn 11g$178K
Advertising and promotionLn 12$57K
Office expensesLn 13$91K
Information technologyLn 14$127K
OccupancyLn 16$114K
Conferences, conventions and meetingsLn 19$12K
Depreciation, depletion and amortizationLn 22$97K
InsuranceLn 23$21K
Other expenses (24a–d)Ln 24$960K
All other expensesLn 24e$76K
Total functional expensesLn 25$2.9M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $4.0M$2.9M$1.1M$7.1M 990 PDF
FY2023 $3.4M$2.2M$1.2M$6.0M 990 PDF
FY2022 $2.6M$2.0M$524K$4.8M 990 PDF
FY2021 $2.4M$2.0M$398K$4.3M 990 PDF
FY2020 $2.4M$2.1M$305K$3.9M 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 $3,979,185 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $3,556,507 · Unrelated business $6,956$3,563,463
VIII-3 Investment incomeExcluded from tax $408,745$408,745
VIII-5 RoyaltiesRelated to mission $6,977$6,977
VIII-12 Total revenueRelated to mission $3,563,484 · Unrelated business $6,956 · Excluded from tax $408,745$3,979,185
Part IX · Statement of functional expenses $2,858,426 across 16 lines filed
IX-6 Pay of disqualified persons$385,508
IX-7 Other salaries and wages$483,957
IX-8 Pension plan contributions$90,297
IX-9 Other employee benefits$107,851
IX-11b Legal fees$39,117
IX-11c Accounting fees$18,997
IX-11g Other fees for services$178,178
IX-12 Advertising and promotion$57,089
IX-13 Office expenses$90,554
IX-14 Information technology$126,676
IX-16 Occupancy$114,152
IX-19 Conferences, conventions and meetings$11,666
IX-22 Depreciation, depletion and amortization$97,135
IX-23 Insurance$21,385
IX-24 Other expenses (24a–d)$959,834
IX-24e All other expenses$76,030
IX-25 Total functional expenses$2,858,426
Part X · Balance sheet $59,432,300 assets, 12 lines filed
Asset lines not itemized here account for $46,411,341; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $700,845$534,860
X-2 Savings and temporary cash investmentsStart of year $6,171,238$8,493,188
X-9 Prepaid expenses and deferred chargesStart of year $129,354$77,838
X-10c Land, buildings and equipment, netStart of year $1,364,193$1,371,868
X-13 Program-related investmentsStart of year $483,306$732,306
X-15 Other assetsStart of year $1,671,229$1,810,899
X-16 Total assetsStart of year $56,707,277$59,432,300
X-17 Accounts payable and accrued expensesStart of year $491,805$345,073
X-25 Other liabilitiesStart of year $50,189,811$51,940,807
X-26 Total liabilitiesStart of year $50,681,616$52,285,880
X-32 Total net assets or fund balancesStart of year $6,025,661$7,146,420
X-33 Total liabilities and net assetsStart of year $56,707,277$59,432,300
Part XI · Reconciliation of net assets $7,146,420 net assets at year end
XI-1 Total revenue$3,979,185
XI-2 Total expenses$2,858,426
XI-3 Revenue less expenses$1,120,759
XI-4 Net assets at start of year$6,025,661
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$7,146,420

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

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