Sooper Credit Union

Not tax-deductible

Arvada, COMutual-benefit / member-servingSince 1951Mutual / membership EIN 84-0419976Revenue $50.6M in FY2024

On file with the IRSsoopercu.org5005 W 60th Ave, 80003-6918 · Arvada, COTax-exempt since Aug 1968

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To improve our communities' quality of life by enhancing our members' financial well-being.

Run by 9 volunteers and 135 employees.
Mission: Form 990 Part I, line 1 · People: Part I, lines 5–6

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FY2024 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
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 $6.1M a year · 18% 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
$3.6M
to officers and key staff · 8% of spending
Looks good: pay to officers and key staff is 8% of spending; 15% or less.
Pt VII · Sec A
8 mo
of spending, in cash
Looks good: 8.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$585.4M
89% of total assets
Concern: liabilities are 89% of assets; over 80%.
Pt X · Ln 26
Independent board members
0
of 9 voting members
Concern: none of 9 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$50.6M
+19% vs prior year
Spent
$45.5M
Net assets
$73.5M
By yearFY2020–FY2024
Revenue
$50.6M
FY2024▲ +19%
Tap a bar for its year
Revenue by fiscal year
FY2020$22.1M
FY2021$25.5M
FY2022$32.9M
FY2023$42.6M
FY2024$50.6M
Expenses
$45.5M
FY2024▲ +31%
Tap a bar for its year
Expenses by fiscal year
FY2020$19.6M
FY2021$19.5M
FY2022$23.7M
FY2023$34.8M
FY2024$45.5M
Net assets
$73.5M
FY2024▲ +7%
Tap a bar for its year
Net assets by fiscal year
FY2020$49.3M
FY2021$54.9M
FY2022$60.8M
FY2023$68.5M
FY2024$73.5M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 1968.

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

Who runs it and what they're paid

25 people listed on the 990; $3.6M paid to officers and key staff.

Part VII, Section A · reportable compensation
CEO/President
$620,045Pt VII · Sec A
Chief Lending Officer
$304,176Pt VII · Sec A
$302,696Pt VII · Sec A
Chief Strategy Officer
$285,271Pt VII · Sec A
SVP of Lending
$205,927Pt VII · Sec A
SVP of HR
$205,598Pt VII · Sec A
$202,832Pt VII · Sec A
VP of Process & Partner in
$180,633Pt VII · Sec A

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

NameFY2024FY2023FY2022FY2021FY2020
Carrie Langgard$620,045$503,694$385,821$236,298$215,001
Daniel Kester——$323,334$412,307$368,050
Darrell Mann————$317,856
Gary Robbins$304,176$277,704$243,984$170,580$126,717
Charlie Emanuel$302,696$268,408$161,877——
Nathan Rogers$285,271$259,585———
Nate Rogers——$212,759$148,660$18,406
Iain McHenry$205,927$70,178———

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
  • Loans to or from officersSch L · Pt II15 listed

Programs and updates

Boosts members' financial health to improve community life.

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Provided by the organization

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1 program · in their own filed words · FY2024
01

The credit union is owned by approximately 35,000 members. The creditunion provides financial services to its members. Some of theseservices include consumer lending, mortgage lending, checking andsavings accounts, and share certificates. The credit union also offersatm, debit and credit cards, in addition to other financial services.

Pt IX · col B

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$50.6M
Ln 12
Fees for servicesLn 2g$46.5M
Investment incomeLn 3$4.1M
Other incomeLn 4–11$15K
Money outPt IX
$45.5M
Ln 25
Owns and owesPt X
$73.5M
net assets · Ln 32
Cash and savingsLn 1–2$30.8M
Total assetsLn 16$659.0M
LiabilitiesLn 26$585.4M
PeoplePt VI, VII
25
listed · VII A
PaidVII A25
Voting boardVI 1a9
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$46.5M
Investment incomeLn 3$4.1M
Other incomeLn 4–11$15K
Gains on assetsLn 7$2.9M
Total revenueLn 12$50.6M
Assets in detailPt X, end of year
CashLn 1$5.0M
SavingsLn 2$25.7M
Cash and savings togetherLn 1–2$30.8M
InvestmentsLn 11–13$30.5M
Land, buildings, equipmentLn 10c$7.8M
Other assetsLn 15$19.9M
Total assetsLn 16$659.0M
LiabilitiesLn 26$585.4M
Net assetsLn 32$73.5M
OperationsPt I, VI
EmployeesI 5135
VolunteersI 69
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$23.6M$30.8M
InvestmentsLn 11–13$33.2M$30.5M
Land, buildings, equipmentLn 10c$8.0M$7.8M
Total assetsLn 16$664.9M$659.0M
LiabilitiesLn 26$596.4M$585.4M
Net assetsLn 32$68.5M$73.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$3.1M
Other salaries and wagesLn 7$9.1M
Pension plan contributionsLn 8$280K
Other employee benefitsLn 9$1.5M
Payroll taxesLn 10$722K
Legal feesLn 11b$97K
Accounting feesLn 11c$181K
Other fees for servicesLn 11g$1.1M
Advertising and promotionLn 12$1.7M
Office expensesLn 13$5.4M
OccupancyLn 16$1.5M
TravelLn 17$293K
Conferences, conventions and meetingsLn 19$30K
Depreciation, depletion and amortizationLn 22$677K
InsuranceLn 23$179K
Other expenses (24a–d)Ln 24$19.6M
All other expensesLn 24e$64K
Total functional expensesLn 25$45.5M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $50.6M$45.5M$5.1M$73.5M 990 PDF
FY2023 $42.6M$34.8M$7.8M$68.5M 990 PDF
FY2022 $32.9M$23.7M$9.2M$60.8M 990 PDF
FY2021 $25.5M$19.5M$6.1M$54.9M 990 PDF
FY2020 $22.1M$19.6M$2.4M$49.3M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support J · Pay O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $50,557,251 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $40,714,713$46,466,800
I-10 Investment incomePrior year $1,840,409$4,075,512
I-11 Other revenuePrior year $15,612$14,939
I-12 Total revenuePrior year $42,570,734$50,557,251
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 $12,875,911$14,681,405
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $21,880,768$30,801,728
I-18 Total expensesPrior year $34,756,679$45,483,133
I-19 Revenue less expensesPrior year $7,814,055$5,074,118
Part VI · Governance 0 of 9 board members independent, no flags
VI-1a Voting members of the governing body9
VI-1b Independent voting members0
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 $50,557,251 across 5 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $46,466,800$46,466,800
VIII-3 Investment incomeRelated to mission $1,188,788$1,188,788
VIII-7 Net gain or loss on sales of assetsRelated to mission $2,886,724$2,886,724
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Unrelated business $14,939$14,939
VIII-12 Total revenueRelated to mission $50,542,312 · Unrelated business $14,939 · Excluded from tax $0$50,557,251
Part IX · Statement of functional expenses $45,483,133 across 17 lines filed
IX-5 Pay of current officers, directors and key staff$3,115,912
IX-7 Other salaries and wages$9,050,975
IX-8 Pension plan contributions$279,677
IX-9 Other employee benefits$1,512,713
IX-10 Payroll taxes$722,128
IX-11b Legal fees$97,235
IX-11c Accounting fees$180,922
IX-11g Other fees for services$1,091,314
IX-12 Advertising and promotion$1,685,050
IX-13 Office expenses$5,407,663
IX-16 Occupancy$1,503,665
IX-17 Travel$292,776
IX-19 Conferences, conventions and meetings$29,523
IX-22 Depreciation, depletion and amortization$677,065
IX-23 Insurance$178,567
IX-24 Other expenses (24a–d)$19,594,130
IX-24e All other expenses$63,818
IX-25 Total functional expenses$45,483,133
Part X · Balance sheet $658,967,972 assets, 15 lines filed
Asset lines not itemized here account for $567,867,280; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $5,725,016$5,038,180
X-2 Savings and temporary cash investmentsStart of year $17,873,427$25,713,080
X-4 Accounts receivableStart of year $733,131$892,955
X-9 Prepaid expenses and deferred chargesStart of year $1,535,853$1,244,154
X-10c Land, buildings and equipment, netStart of year $7,950,257$7,783,661
X-11 Publicly traded securitiesStart of year $27,748,230$25,484,395
X-12 Other securitiesStart of year $2,372,000$842,500
X-13 Program-related investmentsStart of year $3,064,782$4,203,110
X-15 Other assetsStart of year $18,541,043$19,898,657
X-16 Total assetsStart of year $664,866,439$658,967,972
X-17 Accounts payable and accrued expensesStart of year $6,607,422$6,517,616
X-25 Other liabilitiesStart of year $537,048,357$563,919,043
X-26 Total liabilitiesStart of year $596,361,879$585,436,659
X-32 Total net assets or fund balancesStart of year $68,504,560$73,531,313
X-33 Total liabilities and net assetsStart of year $664,866,439$658,967,972
Part XI · Reconciliation of net assets $73,531,313 net assets at year end
XI-1 Total revenue$50,557,251
XI-2 Total expenses$45,483,133
XI-3 Revenue less expenses$5,074,118
XI-4 Net assets at start of year$68,504,560
XI-5 Net unrealized gains (losses) on investments−$47,365
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$73,531,313

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

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