Strait-View Credit Union

Not tax-deductible

Port Angeles, WAMutual-benefit / member-servingMutual / membership EIN 91-0461936Revenue $5.4M in FY2024

On file with the IRS220 S Lincoln St, 98362-3003 · Port Angeles, WATax-exempt since Jul 1954

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Operate credit union for mutual purposes and without profit.

Run by 12 volunteers and 15 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
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 $1.2M a year · 29% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$509K
to officers and key staff · 12% of spending
Looks good: pay to officers and key staff is 12% of spending; 15% or less.
Pt VII · Sec A
145 mo
of spending, in cash
Looks good: 144.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$768K
0.7% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 12 voting members
Concern: none of 12 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$5.4M
+13% vs prior year
Spent
$4.3M
To programs
0%
Net assets
$103.1M
By yearFY2020–FY2024
Revenue
$5.4M
FY2024▲ +13%
Tap a bar for its year
Revenue by fiscal year
FY2020$3.1M
FY2021$3.0M
FY2022$3.8M
FY2023$4.8M
FY2024$5.4M
Expenses
$4.3M
FY2024▲ +23%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.8M
FY2021$1.8M
FY2022$2.9M
FY2023$3.5M
FY2024$4.3M
Net assets
$103.1M
FY2024▲ +3%
Tap a bar for its year
Net assets by fiscal year
FY2020$84.9M
FY2021$103.2M
FY2022$104.0M
FY2023$99.7M
FY2024$103.1M

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

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jul 1954.

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; $509K paid to officers and key staff.

Part VII, Section A · reportable compensation
President/Board Treasurer
$203,155Pt VII · Sec A
Interim CEO
$163,918Pt VII · Sec A
VP of IT/Lending
$92,654Pt VII · Sec A
VP of Operations
$49,554Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Supervisory
$0Pt VII · Sec A

Compensation history total reportable pay by year · 5 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Lisa a Roening$203,155$229,828$184,735$172,198$191,689
Lori Frederick—$202,151$154,321$143,950$160,219
Corina Ruiz$163,918$56,243———
Catherine Malmrose$92,654————
Cindy Cashman$49,554————

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 15aNo
  • Loans to or from officersSch L · Pt II21 listed

Programs and updates

Operate a cooperative credit union for members' financial benefit.

Questions for Strait-View Credit Union

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Provided by the organization

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1 program · in their own filed words · FY2024
01

Operate credit union for mutual purposes and without profit.

Pt IX · col B

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$5.4M
Ln 12
Fees for servicesLn 2g$5.4M
Money outPt IX
$4.3M
Ln 25
Owns and owesPt X
$103.1M
net assets · Ln 32
Cash and savingsLn 1–2$52.2M
Total assetsLn 16$103.9M
LiabilitiesLn 26$768K
PeoplePt VI, VII
14
listed · VII A
PaidVII A4
Voting boardVI 1a12
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$5.4M
Total revenueLn 12$5.4M
Assets in detailPt X, end of year
CashLn 1$895K
SavingsLn 2$51.3M
Cash and savings togetherLn 1–2$52.2M
InvestmentsLn 11–13$4.3M
Land, buildings, equipmentLn 10c$1.2M
Other assetsLn 15$2.6M
Total assetsLn 16$103.9M
LiabilitiesLn 26$768K
Net assetsLn 32$103.1M
OperationsPt I, VI
EmployeesI 515
VolunteersI 612
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 FY24End FY24
Cash and savingsLn 1–2$45.3M$52.2M
InvestmentsLn 11–13$7.5M$4.3M
Land, buildings, equipmentLn 10c$1.3M$1.2M
Total assetsLn 16$101.4M$103.9M
LiabilitiesLn 26$1.7M$768K
Net assetsLn 32$99.7M$103.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Benefits paid to or for membersLn 4$850K$0
Other salaries and wagesLn 7$1.3M$0$0$0
Other employee benefitsLn 9$125K$0$0$0
Payroll taxesLn 10$141K$0$0$0
Legal feesLn 11b$8K$0$0$0
Accounting feesLn 11c$8K$0$0$0
Other fees for servicesLn 11g$220K$0$0$0
Advertising and promotionLn 12$109K$0$0$0
Office expensesLn 13$47K$0$0$0
Information technologyLn 14$288K$0$0$0
OccupancyLn 16$49K$0$0$0
Depreciation, depletion and amortizationLn 22$138K$0$0$0
All other expensesLn 24e$1.1M$0$0$0
Total functional expensesLn 25$4.3M$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $5.4M$4.3M$1.1M$103.1M 990 PDF
FY2023 $4.8M$3.5M$1.3M$99.7M 990 PDF
FY2022 $3.8M$2.9M$884K$104.0M 990 PDF
FY2021 $3.0M$1.8M$1.2M$103.2M 990 PDF
FY2020 $3.1M$1.8M$1.3M$84.9M 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 $5,431,213 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $4,807,931$5,431,213
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $4,807,931$5,431,213
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to membersPrior year $481,872$849,523
I-15 Salaries and benefitsPrior year $1,534,964$1,551,554
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $1,513,072$1,925,328
I-18 Total expensesPrior year $3,529,908$4,326,405
I-19 Revenue less expensesPrior year $1,278,023$1,104,808
Part VI · Governance 0 of 12 board members independent, 2 to look at
VI-1a Voting members of the governing body12
VI-1b Independent voting members0
VI-13 Written whistleblower policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $5,431,213 across 2 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Unrelated business $0 · Excluded from tax $0$5,431,213
VIII-12 Total revenueRelated to mission $5,431,213 · Unrelated business $0 · Excluded from tax $0$5,431,213
Part IX · Statement of functional expenses $4,326,405 across 13 lines filed
IX-4 Benefits paid to or for membersPrograms $0$849,523
IX-7 Other salaries and wagesPrograms $0 · Management $0 · Fundraising $0$1,285,055
IX-9 Other employee benefitsPrograms $0 · Management $0 · Fundraising $0$125,324
IX-10 Payroll taxesPrograms $0 · Management $0 · Fundraising $0$141,175
IX-11b Legal feesPrograms $0 · Management $0 · Fundraising $0$7,892
IX-11c Accounting feesPrograms $0 · Management $0 · Fundraising $0$8,480
IX-11g Other fees for servicesPrograms $0 · Management $0 · Fundraising $0$220,341
IX-12 Advertising and promotionPrograms $0 · Management $0 · Fundraising $0$109,341
IX-13 Office expensesPrograms $0 · Management $0 · Fundraising $0$46,898
IX-14 Information technologyPrograms $0 · Management $0 · Fundraising $0$287,851
IX-16 OccupancyPrograms $0 · Management $0 · Fundraising $0$48,534
IX-22 Depreciation, depletion and amortizationPrograms $0 · Management $0 · Fundraising $0$137,893
IX-24e All other expensesPrograms $0 · Management $0 · Fundraising $0$1,058,098
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$4,326,405
Part X · Balance sheet $103,866,679 assets, 12 lines filed
Asset lines not itemized here account for $43,206,249; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $581,339$894,925
X-2 Savings and temporary cash investmentsStart of year $44,683,584$51,324,598
X-9 Prepaid expenses and deferred chargesStart of year $244,399$319,924
X-10c Land, buildings and equipment, netStart of year $1,320,078$1,203,146
X-13 Program-related investmentsStart of year $7,538,000$4,349,000
X-15 Other assetsStart of year $1,968,055$2,568,837
X-16 Total assetsStart of year $101,367,809$103,866,679
X-17 Accounts payable and accrued expensesStart of year $1,623,204$753,088
X-25 Other liabilitiesStart of year $72,423$15,374
X-26 Total liabilitiesStart of year $1,695,627$768,462
X-32 Total net assets or fund balancesStart of year $99,672,182$103,098,217
X-33 Total liabilities and net assetsStart of year $101,367,809$103,866,679
Part XI · Reconciliation of net assets $103,098,217 net assets at year end
XI-1 Total revenue$5,431,213
XI-2 Total expenses$4,326,405
XI-3 Revenue less expenses$1,104,808
XI-4 Net assets at start of year$99,672,182
XI-9 Other changes in net assets$2,321,227
XI-10 Net assets at end of year$103,098,217

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

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