Advantis Credit Union FY2020 filing

Clackamas, ORUnknown exempt organizationSince 1928EIN 93-0251640Revenue $76.4M in FY2020

On file with the IRSadvantiscu.org9200 Se Sunnybrook Blvd 300 · Clackamas, OR

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Providing financial services to members

$4.5M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

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FY2020 · 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
4 of 5
filings with a surplus
Average surplus $8.3M a year · 10% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Pay to officers and key staff
$4.5M
to officers and key staff · 7% of spending
Looks good: pay to officers and key staff is 7% of spending; 15% or less.
Pt VII · Sec A
106 mo
of spending, in cash
Looks good: 105.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.6B
90% of total assets
Concern: liabilities are 90% 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
$76.4M
Spent
$63.0M
Net assets
$188.1M
By yearFY2020–FY2024
Revenue
$76.4M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$76.4M
FY2021$72.3M
FY2022$76.7M
FY2023$98.7M
FY2024$106.1M
Expenses
$63.0M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$63.0M
FY2021$57.1M
FY2022$65.0M
FY2023$94.9M
FY2024$108.6M
Net assets
$188.1M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$188.1M
FY2021$203.3M
FY2022$211.4M
FY2023$217.2M
FY2024$0

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 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

23 people listed on the 990; $4.5M paid to officers and key staff.

Part VII, Section A · reportable compensation
President & CEO Through Sep 2020
$1,043,447Pt VII · Sec A
SVP/Chief Administrative Officer
$798,437Pt VII · Sec A
Mortgage Loan Officer - Commissioned
$374,363Pt VII · Sec A
SVP/Chief Financial Officer
$304,054Pt VII · Sec A
SVP/Chief Innovation Officer
$274,459Pt VII · Sec A
SVP/Chief Retail Officer
$268,272Pt VII · Sec A
SVP/Chief Credit Officer
$264,638Pt VII · Sec A
Financial Advisor - Licensed
$229,866Pt VII · Sec A

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

NameFY2024FY2023FY2022FY2021FY2020
Robert Corwin——$960,000$565,696$1,043,447
Wendy Edwards———$358,812$798,437
Laurie Wilson——$754,137$373,890$304,054
Jason Werts$590,639$635,812$632,373$524,241—
Timothy Clouse—$492,461$344,060$332,668$274,459
Greg Spear$460,811$396,024$275,296——
Keli Myers$337,201$383,102$410,954$295,783$264,638
Jeri Maher——$221,938$382,111$374,363

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 to its members.

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Provided by the organization

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1 program · in their own filed words · FY2020
01

The credit union provides financial services to 77,640 members. Services include share deposits and loans to members.

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 · 47 grants · $784K · 2020–2024
Urban League of Portland INCOR · FY2024$30,757
Childrens Miracle NetworkUT · FY2024$15,000
Guide Dogs for the Blind INCCA · FY2024$10,000
Girls BuildOR · FY2024$10,000
Outside inOR · FY2024$10,000
Youth Music ProjectOR · FY2024$10,000
With Love Oregon INCOR · FY2024$8,000
Unitemized GrantFY2024$7,500
Unitemized GrantFY2024$7,250
Gowest FoundationWA · FY2023$52,850
The ContingentOR · FY2023$30,000
Unitemized GrantFY2023$28,834
See all 47 grants →

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$76.4M
Ln 12
Fees for servicesLn 2g$71.3M
Investment incomeLn 3$5.1M
Other incomeLn 4–11$7K
Money outPt IX
$63.0M
Ln 25
Owns and owesPt X
$188.1M
net assets · Ln 32
Cash and savingsLn 1–2$554.1M
Total assetsLn 16$1.8B
LiabilitiesLn 26$1.6B
PeoplePt VI, VII
23
listed · VII A
PaidVII A22
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$71.3M
Investment incomeLn 3$5.1M
Other incomeLn 4–11$7K
Gains on assetsLn 7$3.4M
Total revenueLn 12$76.4M
Assets in detailPt X, end of year
CashLn 1$553.1M
SavingsLn 2$996K
Cash and savings togetherLn 1–2$554.1M
InvestmentsLn 11–13$19.2M
Land, buildings, equipmentLn 10c$9.6M
Other assetsLn 15$70.3M
Total assetsLn 16$1.8B
LiabilitiesLn 26$1.6B
Net assetsLn 32$188.1M
OperationsPt I, VI
EmployeesI 5260
VolunteersI 615
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 FY20End FY20
Cash and savingsLn 1–2$215.7M$554.1M
InvestmentsLn 11–13$27.0M$19.2M
Land, buildings, equipmentLn 10c$10.9M$9.6M
Total assetsLn 16$1.48B$1.81B
LiabilitiesLn 26$1.30B$1.62B
Net assetsLn 32$174.4M$188.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$248K
Grants to domestic individualsLn 2$50K
Pay of current officers, directors and key staffLn 5$3.9M
Other salaries and wagesLn 7$13.1M
Pension plan contributionsLn 8$883K
Other employee benefitsLn 9$3.2M
Payroll taxesLn 10$1.6M
Legal feesLn 11b$326K
Accounting feesLn 11c$132K
Other fees for servicesLn 11g$664K
Advertising and promotionLn 12$1.5M
Office expensesLn 13$2.1M
Information technologyLn 14$4.1M
OccupancyLn 16$2.4M
TravelLn 17$83K
Conferences, conventions and meetingsLn 19$99K
InterestLn 20$12.5M
Depreciation, depletion and amortizationLn 22$2.5M
InsuranceLn 23$159K
Other expenses (24a–d)Ln 24$11.9M
All other expensesLn 24e$1.4M
Total functional expensesLn 25$63.0M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $106.1M$108.6M−$2.5M$0 990 PDF
FY2023 $98.7M$94.9M$3.8M$217.2M 990 PDF
FY2022 $76.7M$65.0M$11.6M$211.4M 990 PDF
FY2021 $72.3M$57.1M$15.2M$203.3M 990 PDF
FY2020 Viewing $76.4M$63.0M$13.4M$188.1M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants J · Pay O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $76,433,625 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $63,741,706$71,305,582
I-10 Investment incomePrior year $4,880,566$5,121,421
I-11 Other revenuePrior year $6,622$6,622
I-12 Total revenuePrior year $68,628,894$76,433,625
I-13 Grants and similar amounts paidPrior year $272,254$297,582
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $20,263,509$22,718,633
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $36,370,534$40,002,036
I-18 Total expensesPrior year $56,906,297$63,018,251
I-19 Revenue less expensesPrior year $11,722,597$13,415,374
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 $76,433,625 across 5 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $70,585,494 · Unrelated business $720,088$71,305,582
VIII-3 Investment incomeExcluded from tax $1,678,069$1,678,069
VIII-6 Net rental income or lossExcluded from tax $6,622$6,622
VIII-7 Net gain or loss on sales of assetsRelated to mission $3,095,226 · Excluded from tax $348,126$3,443,352
VIII-12 Total revenueRelated to mission $73,680,720 · Unrelated business $720,088 · Excluded from tax $2,032,817$76,433,625
Part IX · Statement of functional expenses $63,018,251 across 21 lines filed
IX-1 Grants to domestic organizations$247,744
IX-2 Grants to domestic individuals$49,838
IX-5 Pay of current officers, directors and key staff$3,923,488
IX-7 Other salaries and wages$13,081,013
IX-8 Pension plan contributions$883,292
IX-9 Other employee benefits$3,212,978
IX-10 Payroll taxes$1,617,862
IX-11b Legal fees$325,514
IX-11c Accounting fees$131,572
IX-11g Other fees for services$664,421
IX-12 Advertising and promotion$1,461,229
IX-13 Office expenses$2,070,082
IX-14 Information technology$4,147,210
IX-16 Occupancy$2,422,945
IX-17 Travel$83,280
IX-19 Conferences, conventions and meetings$99,384
IX-20 Interest$12,543,550
IX-22 Depreciation, depletion and amortization$2,540,848
IX-23 Insurance$158,854
IX-24 Other expenses (24a–d)$11,947,279
IX-24e All other expenses$1,405,868
IX-25 Total functional expenses$63,018,251
Part X · Balance sheet $1,807,081,276 assets, 13 lines filed
Asset lines not itemized here account for $1,152,359,628; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $214,676,273$553,083,358
X-2 Savings and temporary cash investmentsStart of year $996,000$996,000
X-9 Prepaid expenses and deferred chargesStart of year $1,592,707$1,574,864
X-10c Land, buildings and equipment, netStart of year $10,853,604$9,560,603
X-11 Publicly traded securitiesStart of year $22,915,339$14,932,350
X-12 Other securitiesStart of year $4,123,016$4,240,316
X-15 Other assetsStart of year $63,343,709$70,334,157
X-16 Total assetsStart of year $1,478,812,305$1,807,081,276
X-17 Accounts payable and accrued expensesStart of year $13,667,999$14,873,555
X-25 Other liabilitiesStart of year $1,240,764,681$1,554,144,557
X-26 Total liabilitiesStart of year $1,304,432,680$1,619,018,112
X-32 Total net assets or fund balancesStart of year $174,379,625$188,063,164
X-33 Total liabilities and net assetsStart of year $1,478,812,305$1,807,081,276
Part XI · Reconciliation of net assets $188,063,164 net assets at year end
XI-1 Total revenue$76,433,625
XI-2 Total expenses$63,018,251
XI-3 Revenue less expenses$13,415,374
XI-4 Net assets at start of year$174,379,625
XI-5 Net unrealized gains (losses) on investments$269,372
XI-9 Other changes in net assets−$1,207
XI-10 Net assets at end of year$188,063,164

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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