Benton County Schools Credit Union FY2020 filing

Not tax-deductible

Corvallis, ORMutual-benefit / member-servingSince 1953EIN 93-0465079Revenue $2.0M in FY2020

On file with the IRSbcscu.org2101 Nw Professional Dr, 97330-3888 · Corvallis, ORTax-exempt since Oct 1944

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State of oregon chartered Credit Union. Provide financial services to 2,347 members. These services include, but are not limited to, providing real estate and other secured/unsecured loans and various savings programs.

100¢ of each $1 spent went to programs.
$130K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2020 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $418K a year · 19% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$130K
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
Cash reserves
41 mo
of spending, in cash
Looks good: 41.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$59.7M
92% of total assets
Concern: liabilities are 92% of assets; over 80%.
Pt X · Ln 26
Independent board members
4
of 5 voting members
Looks good: 4 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.0M
Spent
$1.6M
To programs
100%
Net assets
$5.1M
By yearFY2020–FY2025
Revenue
$2.0M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$2.0M
FY2021$1.8M
FY2022$1.9M
FY2023$2.3M
FY2024$2.6M
FY2025$2.8M
Expenses
$1.6M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$1.6M
FY2021$1.5M
FY2022$1.5M
FY2023$1.8M
FY2024$2.2M
FY2025$2.3M
Net assets
$5.1M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$5.1M
FY2021$5.4M
FY2022$5.8M
FY2023$6.4M
FY2024$6.8M
FY2025$7.2M

From the FY2020 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: FY2025. IRS ruling in Oct 1944.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $1.6M

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

5 people listed on the 990; $130K paid to officers and key staff.

Part VII, Section A · reportable compensation
Director, CEO
$129,903Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

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

NameFY2025FY2024FY2023FY2022FY2021FY2020
Joe R Tofte$466$6,500$15,604$85,242$128,781$129,903
Amanda Held$83,380$74,430$63,198$63,325——
Cassie Stagg$70,506$66,258————
Brandon Burmeister$68,135$64,296$52,843$54,393——
Cassie Lasswell——$59,654$56,190——

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 and savings programs to its members.

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Provided by the organization

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1 program · $1.6M · in their own filed words · FY2020
01

Credit Union Programs

2,269 members served with 5,047 savings accounts established with 115 certificates of deposit. Funded 1,128 loans to members.

$1.6Mprogram expense

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$2.0M
Ln 12
Fees for servicesLn 2g$1.5M
Investment incomeLn 3$505K
Money outPt IX
$1.6M
Ln 25
Programscol B$1.6M
Owns and owesPt X
$5.1M
net assets · Ln 32
Cash and savingsLn 1–2$5.6M
Total assetsLn 16$64.7M
LiabilitiesLn 26$59.7M
PeoplePt VI, VII
5
listed · VII A
PaidVII A1
Voting boardVI 1a5
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$1.5M
Investment incomeLn 3$505K
Total revenueLn 12$2.0M
Assets in detailPt X, end of year
CashLn 1$1.1M
SavingsLn 2$4.5M
Cash and savings togetherLn 1–2$5.6M
Land, buildings, equipmentLn 10c$1.9M
Other assetsLn 15$28.1M
Total assetsLn 16$64.7M
LiabilitiesLn 26$59.7M
Net assetsLn 32$5.1M
OperationsPt I, VI
EmployeesI 511
VolunteersI 615
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
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$7.2M$5.6M
Land, buildings, equipmentLn 10c$1.6M$1.9M
Total assetsLn 16$56.0M$64.7M
LiabilitiesLn 26$51.3M$59.7M
Net assetsLn 32$4.7M$5.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$138K
Other salaries and wagesLn 7$310K
Pension plan contributionsLn 8$47K
Other employee benefitsLn 9$144K
Payroll taxesLn 10$38K
Accounting feesLn 11c$8K
Investment management feesLn 11f$980
Other fees for servicesLn 11g$23K
Advertising and promotionLn 12$42K
Office expensesLn 13$106K
Information technologyLn 14$106K
OccupancyLn 16$114K
TravelLn 17$32K
Conferences, conventions and meetingsLn 19$2K
InterestLn 20$10
Depreciation, depletion and amortizationLn 22$77K
InsuranceLn 23$27K
Other expenses (24a–d)Ln 24$378K
All other expensesLn 24e$25K
Total functional expensesLn 25$1.6M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $2.8M$2.3M$435K$7.2M 990 PDF
FY2024 $2.6M$2.2M$416K$6.8M 990 PDF
FY2023 $2.3M$1.8M$552K$6.4M 990 PDF
FY2022 $1.9M$1.5M$459K$5.8M 990 PDF
FY2021 $1.8M$1.5M$285K$5.4M 990 PDF
FY2020 Viewing $2.0M$1.6M$364K$5.1M 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 FY2020 990 (6 parts)
Part I · Summary $1,984,827 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $1,385,650$1,479,428
I-10 Investment incomePrior year $607,093$505,399
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $1,992,743$1,984,827
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 $641,693$677,517
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $992,926$943,124
I-18 Total expensesPrior year $1,634,619$1,620,641
I-19 Revenue less expensesPrior year $358,124$364,186
Part VI · Governance 4 of 5 board members independent, 2 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members4
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $1,984,827 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,479,428$1,479,428
VIII-3 Investment incomeRelated to mission $505,399$505,399
VIII-12 Total revenueRelated to mission $1,984,827 · Unrelated business $0 · Excluded from tax $0$1,984,827
Part IX · Statement of functional expenses $1,620,641 across 19 lines filed
IX-5 Pay of current officers, directors and key staff$138,069
IX-7 Other salaries and wages$309,554
IX-8 Pension plan contributions$47,274
IX-9 Other employee benefits$144,139
IX-10 Payroll taxes$38,481
IX-11c Accounting fees$8,328
IX-11f Investment management fees$980
IX-11g Other fees for services$23,126
IX-12 Advertising and promotion$42,105
IX-13 Office expenses$106,447
IX-14 Information technology$106,471
IX-16 Occupancy$114,228
IX-17 Travel$32,312
IX-19 Conferences, conventions and meetings$1,581
IX-20 Interest$10
IX-22 Depreciation, depletion and amortization$77,032
IX-23 Insurance$27,325
IX-24 Other expenses (24a–d)$378,169
IX-24e All other expenses$25,010
IX-25 Total functional expenses$1,620,641
Part X · Balance sheet $64,725,561 assets, 11 lines filed
Asset lines not itemized here account for $28,967,541; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $689,672$1,127,701
X-2 Savings and temporary cash investmentsStart of year $6,476,915$4,453,628
X-9 Prepaid expenses and deferred chargesStart of year $209,002$161,115
X-10c Land, buildings and equipment, netStart of year $1,642,026$1,921,769
X-15 Other assetsStart of year $21,305,046$28,093,807
X-16 Total assetsStart of year $56,004,356$64,725,561
X-17 Accounts payable and accrued expensesStart of year $702,090$459,205
X-25 Other liabilitiesStart of year $50,597,297$59,197,201
X-26 Total liabilitiesStart of year $51,299,387$59,656,406
X-32 Total net assets or fund balancesStart of year $4,704,969$5,069,155
X-33 Total liabilities and net assetsStart of year $56,004,356$64,725,561
Part XI · Reconciliation of net assets $5,069,155 net assets at year end
XI-1 Total revenue$1,984,827
XI-2 Total expenses$1,620,641
XI-3 Revenue less expenses$364,186
XI-4 Net assets at start of year$4,704,969
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$5,069,155

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

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