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Sentry Credit Union FY2022 filing

Stevens Point, WIUnknown exempt organizationSince 1935EIN 39-1429665Revenue $3.9M in FY2022

On file with the IRSsentrycu.org1800 North Point Drive · Stevens Point, WI

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To deliver safe, competitive and convenient personal banking products, with exceptional service, to our members. As a trusted partner, our solid financial strength ensures members can rely US to assist toward attaining their financial goals while creating highly valued benefit.

Mission: Form 990 Part I, line 1

Before you give

FY2022 · 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 $712K a year · 15% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Cash reserves
190 mo
of spending, in cash
Looks good: 189.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$119.1M
87% of total assets
Concern: liabilities are 87% 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
$3.9M
+13% vs prior year
Spent
$3.2M
Net assets
$17.8M
By yearFY2020–FY2024
Revenue
$3.9M
FY2022▲ +13%
Tap a bar for its year
Revenue by fiscal year
FY2020$3.7M
FY2021$3.4M
FY2022$3.9M
FY2023$5.9M
FY2024$6.9M
Expenses
$3.2M
FY2022▲ +11%
Tap a bar for its year
Expenses by fiscal year
FY2020$2.9M
FY2021$2.9M
FY2022$3.2M
FY2023$4.6M
FY2024$6.6M
Net assets
$17.8M
FY2022▲ +4%
Tap a bar for its year
Net assets by fiscal year
FY2020$16.6M
FY2021$17.1M
FY2022$17.8M
FY2023$19.0M
FY2024$19.4M

From the FY2022 Form 990 · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

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.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Andrew Kruit
Vice Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
Harry Rice
Secretary
$0Pt VII · Sec A
Mike Bilbrey
Treasurer
$0Pt VII · Sec A
Joe Morgan
Director
$0Pt VII · Sec A
See Sentry Credit Union executive salaries →

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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

Provides members with safe, convenient banking and financial guidance to achieve their goals.

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1 program · in their own filed words · FY2022
01

Holding deposits for and making loans to members

Pt IX · col B

By the numbers

The FY2022 990, line by line.

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from philanthropy.org
1The main four
Money inPt VIII
$3.9M
Ln 12
Fees for servicesLn 2g$3.1M
Investment incomeLn 3$756K
Other incomeLn 4–11$18K
Money outPt IX
$3.2M
Ln 25
Owns and owesPt X
$17.8M
net assets · Ln 32
Cash and savingsLn 1–2$50.6M
Total assetsLn 16$136.9M
LiabilitiesLn 26$119.1M
PeoplePt VI, VII
11
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$3.1M
Investment incomeLn 3$756K
Other incomeLn 4–11$18K
Gains on assetsLn 7−$874
Total revenueLn 12$3.9M
Assets in detailPt X, end of year
CashLn 1$1.0M
SavingsLn 2$49.6M
Cash and savings togetherLn 1–2$50.6M
InvestmentsLn 11–13$982K
Land, buildings, equipmentLn 10c$121K
Other assetsLn 15$1.2M
Total assetsLn 16$136.9M
LiabilitiesLn 26$119.1M
Net assetsLn 32$17.8M
OperationsPt I, VI
EmployeesI 516
VolunteersI 611
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 FY22End FY22
Cash and savingsLn 1–2$50.8M$50.6M
InvestmentsLn 11–13$983K$982K
Land, buildings, equipmentLn 10c$136K$121K
Total assetsLn 16$131.2M$136.9M
LiabilitiesLn 26$114.1M$119.1M
Net assetsLn 32$17.1M$17.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$167K
Other salaries and wagesLn 7$854K
Other employee benefitsLn 9$416K
Legal feesLn 11b$450
Accounting feesLn 11c$16K
Other fees for servicesLn 11g$13K
Advertising and promotionLn 12$93K
Office expensesLn 13$91K
Information technologyLn 14$342K
OccupancyLn 16$42K
TravelLn 17$7K
Conferences, conventions and meetingsLn 19$32K
InterestLn 20$1K
Depreciation, depletion and amortizationLn 22$51K
InsuranceLn 23$32K
Other expenses (24a–d)Ln 24$1.1M
All other expensesLn 24e−$7K
Total functional expensesLn 25$3.2M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $6.9M$6.6M$345K$19.4M 990 PDF
FY2023 $5.9M$4.6M$1.2M$19.0M 990 PDF
FY2022 Viewing $3.9M$3.2M$648K$17.8M 990 PDF
FY2021 $3.4M$2.9M$523K$17.1M 990 PDF
FY2020 $3.7M$2.9M$802K$16.6M 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 FY2022 990 (6 parts)
Part I · Summary $3,850,431 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $3,166,496$3,076,416
I-10 Investment incomePrior year $225,785$756,015
I-11 Other revenuePrior year $18,000$18,000
I-12 Total revenuePrior year $3,410,281$3,850,431
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 $1,452,731$1,437,353
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,434,718$1,765,184
I-18 Total expensesPrior year $2,887,449$3,202,537
I-19 Revenue less expensesPrior year $522,832$647,894
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 $3,850,431 across 5 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $3,069,804 · Unrelated business $6,612$3,076,416
VIII-3 Investment incomeExcluded from tax $756,889$756,889
VIII-7 Net gain or loss on sales of assetsRelated to mission −$874−$874
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $18,000$18,000
VIII-12 Total revenueRelated to mission $3,086,930 · Unrelated business $6,612 · Excluded from tax $756,889$3,850,431
Part IX · Statement of functional expenses $3,202,537 across 17 lines filed
IX-5 Pay of current officers, directors and key staff$167,043
IX-7 Other salaries and wages$854,221
IX-9 Other employee benefits$416,089
IX-11b Legal fees$450
IX-11c Accounting fees$15,582
IX-11g Other fees for services$13,475
IX-12 Advertising and promotion$93,438
IX-13 Office expenses$90,691
IX-14 Information technology$341,982
IX-16 Occupancy$42,030
IX-17 Travel$6,962
IX-19 Conferences, conventions and meetings$31,741
IX-20 Interest$1,118
IX-22 Depreciation, depletion and amortization$50,953
IX-23 Insurance$31,593
IX-24 Other expenses (24a–d)$1,052,418
IX-24e All other expenses−$7,249
IX-25 Total functional expenses$3,202,537
Part X · Balance sheet $136,934,378 assets, 13 lines filed
Asset lines not itemized here account for $83,666,548; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $862,828$1,008,832
X-2 Savings and temporary cash investmentsStart of year $49,979,324$49,579,365
X-4 Accounts receivableStart of year $97,150$211,042
X-9 Prepaid expenses and deferred chargesStart of year $155,092$125,246
X-10c Land, buildings and equipment, netStart of year $135,676$120,538
X-13 Program-related investmentsStart of year $982,655$981,904
X-15 Other assetsStart of year $1,127,686$1,240,903
X-16 Total assetsStart of year $131,234,457$136,934,378
X-17 Accounts payable and accrued expensesStart of year $1,020,941$1,272,919
X-25 Other liabilitiesStart of year $113,063,912$117,863,962
X-26 Total liabilitiesStart of year $114,084,853$119,136,881
X-32 Total net assets or fund balancesStart of year $17,149,604$17,797,497
X-33 Total liabilities and net assetsStart of year $131,234,457$136,934,378
Part XI · Reconciliation of net assets $17,797,497 net assets at year end
XI-1 Total revenue$3,850,431
XI-2 Total expenses$3,202,537
XI-3 Revenue less expenses$647,894
XI-4 Net assets at start of year$17,149,604
XI-9 Other changes in net assets−$1
XI-10 Net assets at end of year$17,797,497

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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