Pocatello Simplot Credit Union FY2023 filing

Pocatello, IDUnknown exempt organizationEIN 82-6006059Revenue $2.8M in FY2023

On file with the IRSpocsimplotcu.comPo Box 2519 · Pocatello, ID

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To promote the financial well being of members by providing services at competitive rates.

$106K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

Before you give

FY2023 · 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 $449K a year · 22% 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
$106K
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
63 mo
of spending, in cash
Looks good: 62.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$44.1M
80% of total assets
Worth a look: liabilities are 80% of assets; over 65%.
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
$2.8M
+101% vs prior year
Spent
$2.5M
Net assets
$10.9M
By yearFY2020–FY2024
Revenue
$2.8M
FY2023▲ +101%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.4M
FY2021$1.4M
FY2022$1.4M
FY2023$2.8M
FY2024$3.1M
Expenses
$2.5M
FY2023▲ +167%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.1M
FY2021$1.0M
FY2022$948K
FY2023$2.5M
FY2024$2.3M
Net assets
$10.9M
FY2023▲ +41%
Tap a bar for its year
Net assets by fiscal year
FY2020$7.0M
FY2021$7.3M
FY2022$7.8M
FY2023$10.9M
FY2024$12.2M

From the FY2023 Form 990 · see the original

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You’re viewing the FY2023 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; $106K paid to officers and key staff.

Part VII, Section A · reportable compensation
President & CEO
$106,474Pt VII · Sec A
$0Pt VII · Sec A
Vice-Chair (from 06-2023)
$0Pt VII · Sec A
$0Pt VII · Sec A
Treasurer (from 09-2023)
$0Pt VII · Sec A
Chair (until 08-2023)
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Amy Wellard$118,772$106,474$100,566$94,799$92,506

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 at competitive rates to improve members' well-being.

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Provided by the organization

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1 program · in their own filed words · FY2023
01

Promoting the financial well being of 6,037 members by providing loan and savings services at competitive rates. Pocatello Simplot CU merged with Simplot Employees Credit Union on 09/01/2023. We changed our name at that time to Simplot Credit Union.

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 · this organization's grantmaking
Grants paid · 6 grants · $76K · 2020–2024
JR Simplot CompanyFY2024$15,000
JR Simplot CompanyFY2023$15,000
JR Simplot CompanyFY2022$15,000
JR Simplot CompanyFY2020$10,000

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$2.8M
Ln 12
Fees for servicesLn 2g$2.4M
Investment incomeLn 3$398K
Money outPt IX
$2.5M
Ln 25
Owns and owesPt X
$10.9M
net assets · Ln 32
Cash and savingsLn 1–2$13.2M
Total assetsLn 16$55.1M
LiabilitiesLn 26$44.1M
PeoplePt VI, VII
11
listed · VII A
PaidVII A1
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$2.4M
Investment incomeLn 3$398K
Total revenueLn 12$2.8M
Assets in detailPt X, end of year
CashLn 1$368K
SavingsLn 2$12.8M
Cash and savings togetherLn 1–2$13.2M
Land, buildings, equipmentLn 10c$1.3M
Other assetsLn 15$635K
Total assetsLn 16$55.1M
LiabilitiesLn 26$44.1M
Net assetsLn 32$10.9M
OperationsPt I, VI
EmployeesI 510
VolunteersI 69
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 FY23End FY23
Cash and savingsLn 1–2$8.9M$13.2M
Land, buildings, equipmentLn 10c$381K$1.3M
Total assetsLn 16$36.3M$55.1M
LiabilitiesLn 26$28.5M$44.1M
Net assetsLn 32$7.8M$10.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$28K
Pay of current officers, directors and key staffLn 5$122K
Other salaries and wagesLn 7$593K
Pension plan contributionsLn 8$26K
Other employee benefitsLn 9$62K
Payroll taxesLn 10$59K
Legal feesLn 11b$11K
Accounting feesLn 11c$211K
Advertising and promotionLn 12$17K
Office expensesLn 13$194K
Information technologyLn 14$93K
OccupancyLn 16$51K
TravelLn 17$25K
Conferences, conventions and meetingsLn 19$5K
InterestLn 20$22K
Depreciation, depletion and amortizationLn 22$83K
Other expenses (24a–d)Ln 24$846K
All other expensesLn 24e$79K
Total functional expensesLn 25$2.5M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $3.1M$2.3M$785K$12.2M 990 PDF
FY2023 Viewing $2.8M$2.5M$316K$10.9M 990 PDF
FY2022 $1.4M$948K$464K$7.8M 990 PDF
FY2021 $1.4M$1.0M$341K$7.3M 990 PDF
FY2020 $1.4M$1.1M$340K$7.0M 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 FY2023 990 (6 parts)
Part I · Summary $2,843,399 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $1,269,184$2,445,010
I-10 Investment incomePrior year $142,223$398,389
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $1,411,407$2,843,399
I-13 Grants and similar amounts paidPrior year $17,891$27,957
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $514,279$861,547
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $415,452$1,637,677
I-18 Total expensesPrior year $947,622$2,527,181
I-19 Revenue less expensesPrior year $463,785$316,218
Part VI · Governance 9 of 9 board members independent, 1 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-13 Written whistleblower policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $2,843,399 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,443,416 · Unrelated business $1,594$2,445,010
VIII-3 Investment incomeExcluded from tax $398,389$398,389
VIII-12 Total revenueRelated to mission $2,443,416 · Unrelated business $1,594 · Excluded from tax $398,389$2,843,399
Part IX · Statement of functional expenses $2,527,181 across 18 lines filed
IX-1 Grants to domestic organizations$27,957
IX-5 Pay of current officers, directors and key staff$121,969
IX-7 Other salaries and wages$592,593
IX-8 Pension plan contributions$26,060
IX-9 Other employee benefits$61,848
IX-10 Payroll taxes$59,077
IX-11b Legal fees$11,212
IX-11c Accounting fees$210,852
IX-12 Advertising and promotion$17,264
IX-13 Office expenses$193,678
IX-14 Information technology$92,931
IX-16 Occupancy$51,499
IX-17 Travel$24,958
IX-19 Conferences, conventions and meetings$5,427
IX-20 Interest$21,797
IX-22 Depreciation, depletion and amortization$82,929
IX-24 Other expenses (24a–d)$846,286
IX-24e All other expenses$78,844
IX-25 Total functional expenses$2,527,181
Part X · Balance sheet $55,073,395 assets, 11 lines filed
Asset lines not itemized here account for $39,891,755; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $235,141$368,153
X-2 Savings and temporary cash investmentsStart of year $8,632,398$12,836,505
X-9 Prepaid expenses and deferred chargesStart of year $31,222$66,922
X-10c Land, buildings and equipment, netStart of year $381,308$1,274,888
X-15 Other assetsStart of year $353,176$635,172
X-16 Total assetsStart of year $36,294,706$55,073,395
X-17 Accounts payable and accrued expensesStart of year $251,875$288,704
X-25 Other liabilitiesStart of year $28,275,069$43,835,480
X-26 Total liabilitiesStart of year $28,526,944$44,124,184
X-32 Total net assets or fund balancesStart of year $7,767,762$10,949,211
X-33 Total liabilities and net assetsStart of year $36,294,706$55,073,395
Part XI · Reconciliation of net assets $10,949,211 net assets at year end
XI-1 Total revenue$2,843,399
XI-2 Total expenses$2,527,181
XI-3 Revenue less expenses$316,218
XI-4 Net assets at start of year$7,767,762
XI-5 Net unrealized gains (losses) on investments−$378,475
XI-9 Other changes in net assets$3,243,706
XI-10 Net assets at end of year$10,949,211

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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