Advantis Credit Union FY2022 filing

Clackamas, ORUnknown exempt organizationSince 1928 EIN 93-0251640Revenue $76.7M in FY2022

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

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Providing financial services to members

$5.5M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

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FY2022 · 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
$5.5M
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
39 mo
of spending, in cash
Looks good: 38.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.8B
89% of total assets
Concern: liabilities are 89% 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
$76.7M
+6% vs prior year
Spent
$65.0M
Net assets
$211.4M
By yearFY2020–FY2024
Revenue
$76.7M
FY2022▲ +6%
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
$65.0M
FY2022▲ +14%
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
$211.4M
FY2022▲ +4%
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 FY2022 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 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

32 people listed on the 990; $5.5M paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Advisor
$960,000Pt VII · Sec A
SVP / CFO Thru 5/22
$754,137Pt VII · Sec A
President/CEO
$632,373Pt VII · Sec A
SVP / Chief Operating Officer
$410,954Pt VII · Sec A
SVP / Chief Experience Officer
$355,739Pt VII · Sec A
SVP / Chief Innovation Officer
$344,060Pt VII · Sec A
Licensed Financial Advisor Thru 9/22
$305,282Pt VII · Sec A
SVP / Chief Financial Officer
$275,296Pt 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
  • Loans to or from officersSch L · Pt II3 listed

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 · FY2022
01

The credit union provides financial services to 90,023 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 FY2022 990, line by line.

1The main four
Money inPt VIII
$76.7M
Ln 12
Fees for servicesLn 2g$70.6M
Investment incomeLn 3$6.1M
Other incomeLn 4–11$2K
Money outPt IX
$65.0M
Ln 25
Owns and owesPt X
$211.4M
net assets · Ln 32
Cash and savingsLn 1–2$210.5M
Total assetsLn 16$2.0B
LiabilitiesLn 26$1.8B
PeoplePt VI, VII
32
listed · VII A
PaidVII A30
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$70.6M
Investment incomeLn 3$6.1M
Other incomeLn 4–11$2K
Gains on assetsLn 7$14K
Total revenueLn 12$76.7M
Assets in detailPt X, end of year
CashLn 1$210.5M
Cash and savings togetherLn 1–2$210.5M
InvestmentsLn 11–13$156.7M
Land, buildings, equipmentLn 10c$57.2M
Other assetsLn 15$59.2M
Total assetsLn 16$2.0B
LiabilitiesLn 26$1.8B
Net assetsLn 32$211.4M
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 FY22End FY22
Cash and savingsLn 1–2$534.5M$210.5M
InvestmentsLn 11–13$21.1M$156.7M
Land, buildings, equipmentLn 10c$26.2M$57.2M
Total assetsLn 16$1.98B$1.98B
LiabilitiesLn 26$1.78B$1.77B
Net assetsLn 32$203.3M$211.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$11K
Grants to domestic individualsLn 2$40K
Pay of current officers, directors and key staffLn 5$4.6M
Other salaries and wagesLn 7$16.2M
Pension plan contributionsLn 8$1.5M
Other employee benefitsLn 9$4.0M
Payroll taxesLn 10$2.1M
Legal feesLn 11b$478K
Accounting feesLn 11c$187K
Other fees for servicesLn 11g$969K
Advertising and promotionLn 12$2.0M
Office expensesLn 13$2.9M
Information technologyLn 14$5.1M
OccupancyLn 16$3.1M
TravelLn 17$75K
Conferences, conventions and meetingsLn 19$299K
InterestLn 20$8.9M
Depreciation, depletion and amortizationLn 22$3.1M
InsuranceLn 23$219K
Other expenses (24a–d)Ln 24$7.2M
All other expensesLn 24e$2.1M
Total functional expensesLn 25$65.0M

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 Viewing $76.7M$65.0M$11.6M$211.4M 990 PDF
FY2021 $72.3M$57.1M$15.2M$203.3M 990 PDF
FY2020 $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 FY2022 990 (6 parts)
Part I · Summary $76,691,076 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $71,292,805$70,565,078
I-10 Investment incomePrior year $1,038,106$6,124,343
I-11 Other revenuePrior year $6,622$1,655
I-12 Total revenuePrior year $72,337,533$76,691,076
I-13 Grants and similar amounts paidPrior year $225,883$51,372
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $24,195,660$28,333,614
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $32,714,770$36,657,985
I-18 Total expensesPrior year $57,136,313$65,042,971
I-19 Revenue less expensesPrior year $15,201,220$11,648,105
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 $76,691,076 across 5 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $69,580,705 · Unrelated business $984,373$70,565,078
VIII-3 Investment incomeExcluded from tax $6,110,530$6,110,530
VIII-6 Net rental income or lossExcluded from tax $1,655$1,655
VIII-7 Net gain or loss on sales of assetsRelated to mission $240,029 · Excluded from tax −$226,216$13,813
VIII-12 Total revenueRelated to mission $69,820,734 · Unrelated business $984,373 · Excluded from tax $5,885,969$76,691,076
Part IX · Statement of functional expenses $65,042,971 across 21 lines filed
IX-1 Grants to domestic organizations$11,000
IX-2 Grants to domestic individuals$40,372
IX-5 Pay of current officers, directors and key staff$4,577,929
IX-7 Other salaries and wages$16,172,548
IX-8 Pension plan contributions$1,488,596
IX-9 Other employee benefits$3,980,647
IX-10 Payroll taxes$2,113,894
IX-11b Legal fees$478,366
IX-11c Accounting fees$187,456
IX-11g Other fees for services$968,950
IX-12 Advertising and promotion$2,038,111
IX-13 Office expenses$2,905,037
IX-14 Information technology$5,141,441
IX-16 Occupancy$3,129,954
IX-17 Travel$75,189
IX-19 Conferences, conventions and meetings$299,144
IX-20 Interest$8,868,576
IX-22 Depreciation, depletion and amortization$3,053,321
IX-23 Insurance$219,015
IX-24 Other expenses (24a–d)$7,191,805
IX-24e All other expenses$2,101,620
IX-25 Total functional expenses$65,042,971
Part X · Balance sheet $1,984,758,504 assets, 12 lines filed
Asset lines not itemized here account for $1,499,409,447; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $534,479,783$210,461,465
X-9 Prepaid expenses and deferred chargesStart of year $1,904,792$1,824,546
X-10c Land, buildings and equipment, netStart of year $26,201,003$57,157,132
X-11 Publicly traded securitiesStart of year $10,581,653$131,890,317
X-12 Other securitiesStart of year $10,560,982$24,854,694
X-15 Other assetsStart of year $64,456,923$59,160,903
X-16 Total assetsStart of year $1,980,374,380$1,984,758,504
X-17 Accounts payable and accrued expensesStart of year $17,448,793$20,580,258
X-25 Other liabilitiesStart of year $1,709,627,967$1,672,825,269
X-26 Total liabilitiesStart of year $1,777,076,760$1,773,405,527
X-32 Total net assets or fund balancesStart of year $203,297,620$211,352,977
X-33 Total liabilities and net assetsStart of year $1,980,374,380$1,984,758,504
Part XI · Reconciliation of net assets $211,352,977 net assets at year end
XI-1 Total revenue$76,691,076
XI-2 Total expenses$65,042,971
XI-3 Revenue less expenses$11,648,105
XI-4 Net assets at start of year$203,297,620
XI-5 Net unrealized gains (losses) on investments−$3,019,684
XI-9 Other changes in net assets−$573,064
XI-10 Net assets at end of year$211,352,977

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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