philanthropy.org | 990 Resource | FAQ Verify yourself
Sign in

True Sky Credit Union

IRS exemption revoked

Oklahoma City, OKUnknown exempt organizationSince 1946EIN 73-0564572Revenue $47.3M in FY2021

On file with the IRStrueskycu.orgPo Box 26406 · Oklahoma City, OK

This page gets seen. Tell your story. Claim this org.

Providing high quality service to empower our members and enrich their lives.

Run by 12 volunteers and 205 employees.
Mission: Form 990 Part I, line 1 · People: Part I, lines 5–6

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
Revoked
IRS exemption revoked
Concern: the IRS revoked its tax exemption.
IRS Auto-Revocation List
Latest return
FY2021
latest Form 990
Concern: the latest return is for FY2021, 5 tax years back; more than 4 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 2
filings with a surplus
Average surplus $2.7M a year · 7% of revenue · last 2 filings
Looks good: a surplus in 2 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Pay to officers and key staff
$1.6M
to officers and key staff · 4% of spending
Looks good: pay to officers and key staff is 4% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
4 mo
of spending, in cash
Looks good: 3.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $10K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$769.6M
93% of total assets
Concern: liabilities are 93% 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
$47.3M
+38% vs prior year
Spent
$43.1M
Net assets
$61.7M
By yearFY2020–FY2021
Revenue
$47.3M
FY2021▲ +38%
Tap a bar for its year
Revenue by fiscal year
FY2020$34.2M
FY2021$47.3M
Expenses
$43.1M
FY2021▲ +31%
Tap a bar for its year
Expenses by fiscal year
FY2020$33.0M
FY2021$43.1M
Net assets
$61.7M
FY2021-0.4%
Tap a bar for its year
Net assets by fiscal year
FY2020$61.9M
FY2021$61.7M

From the FY2021 Form 990 · figures checked against the IRS filing · see the original

Form 990 (PDF) Claim
IRS revoked this organization's tax-exempt status on May 15, 2025

Is it real?

No. The IRS revoked its tax exemption. Latest filing on record: FY2021.

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

Who runs it and what they're paid

14 people listed on the 990; $1.6M paid to officers and key staff.

Part VII, Section A · reportable compensation
Sean M Cahill
President/CEO
$544,611Pt VII · Sec A
Julie Gamblin
Chief Administration Offic
$258,811Pt VII · Sec A
Toby Ragaini
Chief Information Officer
$190,421Pt VII · Sec A
Michael Shockley
VP of Consumer Lending
$178,642Pt VII · Sec A
Craig Pavlich
Chief Operations Officer
$152,518Pt VII · Sec A
$147,601Pt VII · Sec A
Lyle Y Miyamura
Chief Financial Officer
$120,215Pt VII · Sec A
$0Pt VII · Sec A

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

NameFY2021FY2020
Sean M Cahill$544,611$378,055
Julie Gamblin$258,811$187,172
Toby Ragaini$190,421$165,967
Sean P Watt—$178,738
Michael Shockley$178,642$150,951
Kim M Hoang—$164,393
Craig Pavlich$152,518$151,873
Thomas a Michaud$147,601—

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.

See True Sky Credit Union executive salaries →

Are you one of these people? Claim this org to confirm your role

Something off? The org can add a note here. Claim this org to fix it.

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 II3 listed

Programs and updates

Empowering members and enriching lives through high-quality services.

Questions for True Sky Credit Union

Tap to ask. True Sky Credit Union sees how many people are interested.

Your first name shows with your question. True Sky Credit Union answers here, for everyone.

Provided by the organization

Know this organization? Claim it to add your story

3 programs · in their own filed words · FY2021
01

True sky credit union offers a plethora of loan products that are designed to meet the individual needs of its membership. Whether it be the "dream home", classic muscle car, storm shelter or using a credit card to take the family to disneyworld, true sky credit union is their financial dream provider.

Pt IX · col B
02

At the core of true sky credit union, is the membership share programs. True sky cu members enjoy a wide variety of savings programs including traditional savings accounts, share certificates (cd's)-consisting of flexible terms that meet their individual savings lifestyle; ranging from 3 to 60 months, iras (traditional, roth, sep)…

Pt IX · col B
03

In addition to offering a wide variety of member saving products, true sky credit union has developed vendor relationships that assist us in the day to day operations of the credit union. This support is vital to true sky cu which allows us to offer 24 hour banking (internet and mobile banking), credit union shared service center access…

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 · FY2023
National Credit Union Foundation INCFY2023$10K
Total grants receivedfrom 1 funder$10K
Grants paid · 1 grant · $39K · 2021–2021
True Sky Credit Union Foundation INCFY2021$39,400

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$47.3M
Ln 12
Fees for servicesLn 2g$33.9M
Other incomeLn 4–11$11.0M
Investment incomeLn 3$2.4M
Money outPt IX
$43.1M
Ln 25
Owns and owesPt X
$61.7M
net assets · Ln 32
Cash and savingsLn 1–2$13.0M
Total assetsLn 16$831.3M
LiabilitiesLn 26$769.6M
PeoplePt VI, VII
14
listed · VII A
PaidVII A7
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$33.9M
Investment incomeLn 3$2.4M
Other incomeLn 4–11$11.0M
Total revenueLn 12$47.3M
Assets in detailPt X, end of year
CashLn 1$4.5M
SavingsLn 2$8.5M
Cash and savings togetherLn 1–2$13.0M
InvestmentsLn 11–13$167.9M
Land, buildings, equipmentLn 10c$34.1M
Other assetsLn 15$25.9M
Total assetsLn 16$831.3M
LiabilitiesLn 26$769.6M
Net assetsLn 32$61.7M
OperationsPt I, VI
EmployeesI 5205
VolunteersI 612
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 FY21End FY21
Cash and savingsLn 1–2$20.8M$13.0M
InvestmentsLn 11–13$133.6M$167.9M
Land, buildings, equipmentLn 10c$20.2M$34.1M
Total assetsLn 16$766.2M$831.3M
LiabilitiesLn 26$704.3M$769.6M
Net assetsLn 32$61.9M$61.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$39K
Pay of current officers, directors and key staffLn 5$706K
Other salaries and wagesLn 7$12.0M
Pension plan contributionsLn 8$548K
Other employee benefitsLn 9$2.6M
Payroll taxesLn 10$1.1M
Management feesLn 11a$1.0M
Legal feesLn 11b$143K
Accounting feesLn 11c$143K
Other fees for servicesLn 11g$3.7M
Advertising and promotionLn 12$1.2M
Office expensesLn 13$3.2M
OccupancyLn 16$1.2M
Conferences, conventions and meetingsLn 19$515K
InterestLn 20$5.0M
Depreciation, depletion and amortizationLn 22$2.1M
InsuranceLn 23$202K
Other expenses (24a–d)Ln 24$7.8M
Total functional expensesLn 25$43.1M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2021 Latest Viewing $47.3M$43.1M$4.1M$61.7M 990 PDF
FY2020 $34.2M$33.0M$1.2M$61.9M 990 PDF

Want to add your own materials alongside these filings? Claim this org

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 FY2021 990 (6 parts)
Part I · Summary $47,281,663 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $24,378,004$33,905,533
I-10 Investment incomePrior year $2,105,653$2,422,835
I-11 Other revenuePrior year $7,721,893$10,953,295
I-12 Total revenuePrior year $34,205,550$47,281,663
I-13 Grants and similar amounts paidPrior year $0$39,400
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $12,746,340$16,947,829
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $20,227,419$26,159,607
I-18 Total expensesPrior year $32,973,759$43,146,836
I-19 Revenue less expensesPrior year $1,231,791$4,134,827
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 $47,281,663 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $33,537,927 · Unrelated business $367,606$33,905,533
VIII-3 Investment incomeRelated to mission $2,422,835$2,422,835
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $10,953,295$10,953,295
VIII-12 Total revenueRelated to mission $46,914,057 · Unrelated business $367,606 · Excluded from tax $0$47,281,663
Part IX · Statement of functional expenses $43,146,836 across 18 lines filed
IX-1 Grants to domestic organizations$39,400
IX-5 Pay of current officers, directors and key staff$706,342
IX-7 Other salaries and wages$12,021,814
IX-8 Pension plan contributions$548,014
IX-9 Other employee benefits$2,585,314
IX-10 Payroll taxes$1,086,345
IX-11a Management fees$1,002,917
IX-11b Legal fees$143,416
IX-11c Accounting fees$142,515
IX-11g Other fees for services$3,706,968
IX-12 Advertising and promotion$1,245,891
IX-13 Office expenses$3,190,841
IX-16 Occupancy$1,153,991
IX-19 Conferences, conventions and meetings$514,781
IX-20 Interest$4,978,566
IX-22 Depreciation, depletion and amortization$2,067,066
IX-23 Insurance$201,569
IX-24 Other expenses (24a–d)$7,811,086
IX-25 Total functional expenses$43,146,836
Part X · Balance sheet $831,301,668 assets, 14 lines filed
Asset lines not itemized here account for $588,157,138; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $4,090,267$4,475,150
X-2 Savings and temporary cash investmentsStart of year $16,669,188$8,494,071
X-4 Accounts receivableStart of year $3,126,798$1,377,779
X-9 Prepaid expenses and deferred chargesStart of year $1,506,989$835,190
X-10c Land, buildings and equipment, netStart of year $20,158,594$34,091,733
X-11 Publicly traded securitiesStart of year $132,466,108$166,769,496
X-12 Other securitiesStart of year $1,158,100$1,161,900
X-15 Other assetsStart of year $30,286,175$25,939,211
X-16 Total assetsStart of year $766,194,191$831,301,668
X-17 Accounts payable and accrued expensesStart of year $13,200,135$7,484,308
X-25 Other liabilitiesStart of year $687,736,939$758,868,200
X-26 Total liabilitiesStart of year $704,291,754$769,628,186
X-32 Total net assets or fund balancesStart of year $61,902,437$61,673,482
X-33 Total liabilities and net assetsStart of year $766,194,191$831,301,668
Part XI · Reconciliation of net assets $61,673,482 net assets at year end
XI-1 Total revenue$47,281,663
XI-2 Total expenses$43,146,836
XI-3 Revenue less expenses$4,134,827
XI-4 Net assets at start of year$61,902,437
XI-5 Net unrealized gains (losses) on investments−$4,363,781
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$61,673,482

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

Similar organizations you could support · Compare with another nonprofit

Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

If you ARE the filing organization, claim this org and add context

Made it to the end? Claim this organization

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the pay comparisons above.