Gesa Credit Union

Not tax-deductible

Richland, WAMutual-benefit / member-servingSince 1953EIN 91-0616262Revenue $331.7M in FY2024

On file with the IRSgesa.comPo Box 500, 99352-0500 · Richland, WATax-exempt since Jul 1954

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Provide financial services to 270,558 members. These services include, but are not limited to, providing auto and other secured/unsecured consumer loans, checking and savings programs, and Credit card services.

Run by 3 volunteers and 951 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 $40.9M a year · 16% 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
$5.9M
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
18 mo
of spending, in cash
Looks good: 18.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$5.1B
90% of total assets
Concern: liabilities are 90% of assets; over 80%.
Pt X · Ln 26
Independent board members
11
of 11 voting members
Looks good: 11 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$331.7M
+14% vs prior year
Spent
$296.8M
Net assets
$558.7M
By yearFY2020–FY2024
Revenue
$331.7M
FY2024▲ +14%
Tap a bar for its year
Revenue by fiscal year
FY2020$215.8M
FY2021$209.7M
FY2022$219.2M
FY2023$290.4M
FY2024$331.7M
Expenses
$296.8M
FY2024▲ +24%
Tap a bar for its year
Expenses by fiscal year
FY2020$174.5M
FY2021$161.0M
FY2022$189.7M
FY2023$240.1M
FY2024$296.8M
Net assets
$558.7M
FY2024▲ +8%
Tap a bar for its year
Net assets by fiscal year
FY2020$444.8M
FY2021$490.2M
FY2022$489.8M
FY2023$518.7M
FY2024$558.7M

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 Jul 1954.

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

Who runs it and what they're paid

23 people listed on the 990; $5.9M paid to officers and key staff.

Part VII, Section A · reportable compensation
President/CEO
$2,126,279Pt VII · Sec A
VP of Commercial Services
$598,601Pt VII · Sec A
EVP of Member Fulfillment/Retail
$366,837Pt VII · Sec A
Sba Sales Manager/Team Leader
$363,895Pt VII · Sec A
EVP of Member Support & Service
$360,528Pt VII · Sec A
Avp Commercial Manager/Team Leader
$360,163Pt VII · Sec A
EVP of Legal and Administration
$342,427Pt VII · Sec A
Chief Information Officer
$302,453Pt VII · Sec A

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

NameFY2024FY2023FY2022FY2021FY2020
Don C Miller$2,126,279$1,052,929$1,777,884$929,679$822,563
Aproniano Labonite——$704,857$317,089$270,038
Rajesh Bandaru———$369,076$666,521
Benjamin Rutledge$598,601$279,217——$377,175
Scott Adkins————$585,000
Richard Waddle—$431,672$430,236$409,027$513,573
Andrew Chung$302,453—$441,797——
Huey Wang——$416,099——

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 loans, checking, savings, and credit cards to members.

Questions for Gesa Credit Union

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Provided by the organization

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3 programs · in their own filed words · FY2024
01

Offer comprehensive and competitively yielding savings products to members. Gesa offers a wide variety of savings products to members, which include, but are not limited to basic savings, holiday club, vacation club, commercial savings, certificate accounts, ira certificates, ira savings and money market accounts.

Pt IX · col B
02

Offer comprehensive range and competitively priced loan products to members. Gesa offers a wide range of loan products including, but not limited to, autos, RVS, marine equipment, first mortgage, home equity, credit card, commercial and various secured and unsecured loans.

Pt IX · col B
03

Offer low cost services to members which will enable them to achieve their desired financial goals.

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 · 8 grants · $1.7M · 2020–2024
Gesa Community FoundationWA · FY2024$521,521
Unitemized GrantFY2024$99,750
The Memorial FoundationWA · FY2024$50,000
Gesa Community FoundationWA · FY2023$760,641
Unitemized GrantFY2023$5,500
Unitemized GrantFY2022$93,410
Unitemized GrantFY2021$92,375
Unitemized GrantFY2020$47,617

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$331.7M
Ln 12
Fees for servicesLn 2g$295.6M
Investment incomeLn 3$35.6M
Other incomeLn 4–11$441K
Money outPt IX
$296.8M
Ln 25
Owns and owesPt X
$558.7M
net assets · Ln 32
Cash and savingsLn 1–2$447.1M
Total assetsLn 16$5.6B
LiabilitiesLn 26$5.1B
PeoplePt VI, VII
23
listed · VII A
PaidVII A23
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$295.6M
Investment incomeLn 3$35.6M
Other incomeLn 4–11$441K
Gains on assetsLn 7$3.2M
Total revenueLn 12$331.7M
Assets in detailPt X, end of year
CashLn 1$399.6M
SavingsLn 2$47.5M
Cash and savings togetherLn 1–2$447.1M
InvestmentsLn 11–13$339.1M
Land, buildings, equipmentLn 10c$113.0M
Other assetsLn 15$85.0M
Total assetsLn 16$5.6B
LiabilitiesLn 26$5.1B
Net assetsLn 32$558.7M
OperationsPt I, VI
EmployeesI 5951
VolunteersI 63
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$533.3M$447.1M
InvestmentsLn 11–13$358.2M$339.1M
Land, buildings, equipmentLn 10c$112.6M$113.0M
Total assetsLn 16$5.46B$5.63B
LiabilitiesLn 26$4.94B$5.07B
Net assetsLn 32$518.7M$558.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$590K
Grants to domestic individualsLn 2$100K
Pay of current officers, directors and key staffLn 5$5.4M
Other salaries and wagesLn 7$59.3M
Pension plan contributionsLn 8$4.2M
Other employee benefitsLn 9$6.3M
Payroll taxesLn 10$5.4M
Legal feesLn 11b$587K
Accounting feesLn 11c$354K
Other fees for servicesLn 11g$14.2M
Advertising and promotionLn 12$11.2M
Office expensesLn 13$21.5M
OccupancyLn 16$3.5M
TravelLn 17$1.4M
Conferences, conventions and meetingsLn 19$108K
InterestLn 20$103.2M
Depreciation, depletion and amortizationLn 22$17.7M
InsuranceLn 23$611K
Other expenses (24a–d)Ln 24$39.6M
All other expensesLn 24e$1.5M
Total functional expensesLn 25$296.8M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $331.7M$296.8M$34.9M$558.7M 990 PDF
FY2023 $290.4M$240.1M$50.3M$518.7M 990 PDF
FY2022 $219.2M$189.7M$29.5M$489.8M 990 PDF
FY2021 $209.7M$161.0M$48.7M$490.2M 990 PDF
FY2020 $215.8M$174.5M$41.3M$444.8M 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 $331,681,189 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $269,264,856$295,610,628
I-10 Investment incomePrior year $20,711,561$35,629,748
I-11 Other revenuePrior year $410,417$440,813
I-12 Total revenuePrior year $290,386,834$331,681,189
I-13 Grants and similar amounts paidPrior year $767,341$689,851
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $73,462,173$80,706,140
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $165,898,720$215,391,282
I-18 Total expensesPrior year $240,128,234$296,787,273
I-19 Revenue less expensesPrior year $50,258,600$34,893,916
Part VI · Governance 11 of 11 board members independent, no flags
VI-1a Voting members of the governing body11
VI-1b Independent voting members11
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 $331,681,189 across 5 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $294,378,024 · Unrelated business $1,232,604$295,610,628
VIII-3 Investment incomeExcluded from tax $32,398,659$32,398,659
VIII-6 Net rental income or lossUnrelated business $49,107 · Excluded from tax $391,706$440,813
VIII-7 Net gain or loss on sales of assetsExcluded from tax $3,231,089$3,231,089
VIII-12 Total revenueRelated to mission $294,378,024 · Unrelated business $1,281,711 · Excluded from tax $36,021,454$331,681,189
Part IX · Statement of functional expenses $296,787,273 across 20 lines filed
IX-1 Grants to domestic organizations$590,101
IX-2 Grants to domestic individuals$99,750
IX-5 Pay of current officers, directors and key staff$5,444,026
IX-7 Other salaries and wages$59,336,754
IX-8 Pension plan contributions$4,205,444
IX-9 Other employee benefits$6,337,147
IX-10 Payroll taxes$5,382,769
IX-11b Legal fees$587,066
IX-11c Accounting fees$354,199
IX-11g Other fees for services$14,174,015
IX-12 Advertising and promotion$11,204,140
IX-13 Office expenses$21,531,859
IX-16 Occupancy$3,454,713
IX-17 Travel$1,416,062
IX-19 Conferences, conventions and meetings$107,893
IX-20 Interest$103,165,763
IX-22 Depreciation, depletion and amortization$17,694,855
IX-23 Insurance$610,839
IX-24 Other expenses (24a–d)$39,594,233
IX-24e All other expenses$1,495,645
IX-25 Total functional expenses$296,787,273
Part X · Balance sheet $5,629,623,348 assets, 16 lines filed
Asset lines not itemized here account for $4,495,356,698; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $483,217,077$399,551,331
X-2 Savings and temporary cash investmentsStart of year $50,096,276$47,543,107
X-4 Accounts receivableStart of year $36,832,145$58,641,944
X-9 Prepaid expenses and deferred chargesStart of year $11,980,093$12,351,133
X-10c Land, buildings and equipment, netStart of year $112,602,909$113,030,129
X-12 Other securitiesStart of year $357,827,324$333,650,450
X-13 Program-related investmentsStart of year $375,010$5,430,010
X-14 Intangible assetsStart of year $81,626,586$79,106,948
X-15 Other assetsStart of year $80,771,694$84,961,598
X-16 Total assetsStart of year $5,461,068,630$5,629,623,348
X-17 Accounts payable and accrued expensesStart of year $68,600,850$59,650,547
X-19 Deferred revenueStart of year $1,395,981$685,456
X-25 Other liabilitiesStart of year $4,480,264,503$4,603,379,672
X-26 Total liabilitiesStart of year $4,942,354,466$5,070,970,185
X-32 Total net assets or fund balancesStart of year $518,714,164$558,653,163
X-33 Total liabilities and net assetsStart of year $5,461,068,630$5,629,623,348
Part XI · Reconciliation of net assets $558,653,163 net assets at year end
XI-1 Total revenue$331,681,189
XI-2 Total expenses$296,787,273
XI-3 Revenue less expenses$34,893,916
XI-4 Net assets at start of year$518,714,164
XI-5 Net unrealized gains (losses) on investments$3,665,514
XI-9 Other changes in net assets$1,379,569
XI-10 Net assets at end of year$558,653,163

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

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