Skyward Credit Union

Wichita, KSUnknown exempt organizationSince 1941EIN 48-6107341Revenue $13.5M in FY2024

On file with the IRSskywardcu.comFour Cessna Blvd · Wichita, KS

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Provide cooperative financial services to members

Run by 13 volunteers and 81 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
3 of 5
filings with a surplus
Average deficit $1.4M a year · 9% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Pay to officers and key staff
$533K
to officers and key staff · 2% of spending
Looks good: pay to officers and key staff is 2% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
4 mo
of spending, in cash
Looks good: 4.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $6K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$332.3M
95% of total assets
Concern: liabilities are 95% 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
$13.5M
-27% vs prior year
Spent
$23.7M
Net assets
$18.6M
By yearFY2020–FY2024
Revenue
$13.5M
FY2024▼ -27%
Tap a bar for its year
Revenue by fiscal year
FY2020$14.7M
FY2021$15.0M
FY2022$15.6M
FY2023$18.4M
FY2024$13.5M
Expenses
$23.7M
FY2024▲ +23%
Tap a bar for its year
Expenses by fiscal year
FY2020$13.4M
FY2021$13.3M
FY2022$14.4M
FY2023$19.2M
FY2024$23.7M
Net assets
$18.6M
FY2024▼ -20%
Tap a bar for its year
Net assets by fiscal year
FY2020$60.6M
FY2021$55.1M
FY2022$18.0M
FY2023$23.2M
FY2024$18.6M

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

10 people listed on the 990; $533K paid to officers and key staff.

Part VII, Section A · reportable compensation
President / CEO (retired)
$238,960Pt VII · Sec A
$154,140Pt VII · Sec A
$139,530Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Chairperson
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Compensation history total reportable pay by year · 6 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Kevin Wilmoth$238,960$240,211$248,993$218,359$225,770
Dean Greg Peter$154,140$148,390$148,382$133,458$135,785
Kevin Brittain$139,530————
Daniel Hayden——$127,304$121,036$129,784
Theresa Pope————$79,592
Michael Tucker————$76,627

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 cooperative financial services to its members.

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Provided by the organization

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3 programs · in their own filed words · FY2024
01

Provide a source of consumer and mortgage credit to members at a fair and reasonable rate of interest. As of december 31, 2024, there were 14,334 loans outstanding totaling $200,725,773.

Pt IX · col B
02

Provide savings, checking, and other depository services to 21,152 members, and paid dividends on member deposits totaling $7,403,025 for the year.

Pt IX · col B
03

Provide financial information and education to members in the areas of savings, credit, and related personal wealth protection and preservation.

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 · received and paid
Grants received · FY2022
Total grants receivedfrom 1 funder$6K
Grants paid · 14 grants · $112K · 2021–2024
Unitemized GrantFY2024$6,000
Kansas Aviation Museum INCKS · FY2023$8,500
Guadalupe Health FoundationKS · FY2023$7,500
Exploration Place INCKS · FY2023$6,500
Unitemized GrantFY2023$6,000
Unitemized GrantFY2022$12,000
Kansas Aviation Museum INCKS · FY2022$8,500
Guadalupe Health FoundationKS · FY2022$7,500
Exploration Place INCKS · FY2022$6,500
Unitemized GrantFY2021$12,000
Exploration Place INCKS · FY2021$6,000
Kansas Aviation Museum INCKS · FY2021$5,500

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$13.5M
Ln 12
Fees for servicesLn 2g$15.9M
Investment incomeLn 3$4.8M
Money outPt IX
$23.7M
Ln 25
Owns and owesPt X
$18.6M
net assets · Ln 32
Cash and savingsLn 1–2$8.2M
Total assetsLn 16$350.9M
LiabilitiesLn 26$332.3M
PeoplePt VI, VII
10
listed · VII A
PaidVII A3
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$15.9M
Investment incomeLn 3$4.8M
Gains on assetsLn 7−$7.2M
Total revenueLn 12$13.5M
Assets in detailPt X, end of year
CashLn 1$3.4M
SavingsLn 2$4.9M
Cash and savings togetherLn 1–2$8.2M
InvestmentsLn 11–13$126.8M
Land, buildings, equipmentLn 10c$9.5M
Other assetsLn 15$5.6M
Total assetsLn 16$350.9M
LiabilitiesLn 26$332.3M
Net assetsLn 32$18.6M
OperationsPt I, VI
EmployeesI 581
VolunteersI 613
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$16.1M$8.2M
InvestmentsLn 11–13$168.3M$126.8M
Land, buildings, equipmentLn 10c$6.3M$9.5M
Total assetsLn 16$397.7M$350.9M
LiabilitiesLn 26$374.5M$332.3M
Net assetsLn 32$23.2M$18.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$6K
Pay of current officers, directors and key staffLn 5$581K
Other salaries and wagesLn 7$3.7M
Pension plan contributionsLn 8$241K
Other employee benefitsLn 9$503K
Payroll taxesLn 10$311K
Legal feesLn 11b$161K
Accounting feesLn 11c$453K
Other fees for servicesLn 11g$181K
Advertising and promotionLn 12$489K
Office expensesLn 13$621K
Information technologyLn 14$1.6M
OccupancyLn 16$447K
TravelLn 17$25K
Conferences, conventions and meetingsLn 19$111K
InterestLn 20$1.6M
Depreciation, depletion and amortizationLn 22$558K
InsuranceLn 23$91K
Other expenses (24a–d)Ln 24$11.8M
All other expensesLn 24e$205K
Total functional expensesLn 25$23.7M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $13.5M$23.7M−$10.2M$18.6M 990 PDF
FY2023 $18.4M$19.2M−$774K$23.2M 990 PDF
FY2022 $15.6M$14.4M$1.2M$18.0M 990 PDF
FY2021 $15.0M$13.3M$1.7M$55.1M 990 PDF
FY2020 $14.7M$13.4M$1.3M$60.6M 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 FY2024 990 (6 parts)
Part I · Summary $13,531,264 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $13,787,142$15,906,606
I-10 Investment incomePrior year $4,615,948−$2,418,647
I-11 Other revenuePrior year $46,649$43,305
I-12 Total revenuePrior year $18,449,739$13,531,264
I-13 Grants and similar amounts paidPrior year $42,000$6,000
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $4,836,031$5,296,378
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $14,345,347$18,404,692
I-18 Total expensesPrior year $19,223,378$23,707,070
I-19 Revenue less expensesPrior year −$773,639−$10,175,806
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 $13,531,264 across 5 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $15,806,188 · Unrelated business $100,418$15,906,606
VIII-3 Investment incomeRelated to mission $4,809,686$4,809,686
VIII-5 RoyaltiesRelated to mission $43,305$43,305
VIII-7 Net gain or loss on sales of assetsRelated to mission −$7,228,333−$7,228,333
VIII-12 Total revenueRelated to mission $13,430,846 · Unrelated business $100,418 · Excluded from tax $0$13,531,264
Part IX · Statement of functional expenses $23,707,070 across 20 lines filed
IX-2 Grants to domestic individuals$6,000
IX-5 Pay of current officers, directors and key staff$581,332
IX-7 Other salaries and wages$3,659,581
IX-8 Pension plan contributions$241,449
IX-9 Other employee benefits$503,015
IX-10 Payroll taxes$311,001
IX-11b Legal fees$161,089
IX-11c Accounting fees$452,866
IX-11g Other fees for services$180,982
IX-12 Advertising and promotion$488,727
IX-13 Office expenses$620,969
IX-14 Information technology$1,643,593
IX-16 Occupancy$446,957
IX-17 Travel$24,986
IX-19 Conferences, conventions and meetings$110,677
IX-20 Interest$1,599,822
IX-22 Depreciation, depletion and amortization$557,807
IX-23 Insurance$91,148
IX-24 Other expenses (24a–d)$11,820,247
IX-24e All other expenses$204,822
IX-25 Total functional expenses$23,707,070
Part X · Balance sheet $350,895,730 assets, 13 lines filed
Asset lines not itemized here account for $198,945,778; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $3,618,392$3,380,293
X-2 Savings and temporary cash investmentsStart of year $12,482,310$4,857,559
X-9 Prepaid expenses and deferred chargesStart of year $702,145$1,780,319
X-10c Land, buildings and equipment, netStart of year $6,277,602$9,538,773
X-12 Other securitiesStart of year $168,263,774$126,822,111
X-15 Other assetsStart of year $8,979,417$5,570,897
X-16 Total assetsStart of year $397,676,278$350,895,730
X-17 Accounts payable and accrued expensesStart of year $3,307,614$4,767,062
X-24 Unsecured notes and loans payable$262,388
X-25 Other liabilitiesStart of year $324,807,812$327,241,299
X-26 Total liabilitiesStart of year $374,453,367$332,270,749
X-32 Total net assets or fund balancesStart of year $23,222,911$18,624,981
X-33 Total liabilities and net assetsStart of year $397,676,278$350,895,730
Part XI · Reconciliation of net assets $18,624,981 net assets at year end
XI-1 Total revenue$13,531,264
XI-2 Total expenses$23,707,070
XI-3 Revenue less expenses−$10,175,806
XI-4 Net assets at start of year$23,222,911
XI-5 Net unrealized gains (losses) on investments$5,577,876
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$18,624,981

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

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