Benton County Schools Credit Union FY2022 filing

Not tax-deductible

Corvallis, ORMutual-benefit / member-servingSince 1953Mutual / membership EIN 93-0465079Revenue $1.9M in FY2022

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.

$259K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

Before you give

FY2022 · 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
Pay to officers and key staff
$259K
to officers and key staff · 18% of spending
Fine: pay to officers and key staff is 18% of spending; 15% to 20%.
Pt VII · Sec A
57 mo
of spending, in cash
Plus $18.5M in investments, Pt X · Ln 11–13
Looks good: 56.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$67.9M
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
$1.9M
+7% vs prior year
Spent
$1.5M
Net assets
$5.8M
By yearFY2020–FY2025
Revenue
$1.9M
FY2022▲ +7%
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
$1.5M
FY2022▼ -3%
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
$5.8M
FY2022▲ +9%
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 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 (FY2025) →

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

Who runs it and what they're paid

8 people listed on the 990; $259K paid to officers and key staff.

Part VII, Section A · reportable compensation
Director
$85,242Pt VII · Sec A
$63,325Pt VII · Sec A
$56,190Pt VII · Sec A
$54,393Pt 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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1 program · in their own filed words · FY2022
01

Credit Union Programs

2,214 members served with 3,478 savings accounts established and 94 certificates of deposit. Funded 1,547 loans to members.

Pt IX · col B

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$1.9M
Ln 12
Fees for servicesLn 2g$1.4M
Investment incomeLn 3$514K
Other incomeLn 4–11$58K
Money outPt IX
$1.5M
Ln 25
Owns and owesPt X
$5.8M
net assets · Ln 32
Cash and savingsLn 1–2$7.0M
Total assetsLn 16$73.7M
LiabilitiesLn 26$67.9M
PeoplePt VI, VII
8
listed · VII A
PaidVII A4
Voting boardVI 1a5
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$1.4M
Investment incomeLn 3$514K
Other incomeLn 4–11$58K
Total revenueLn 12$1.9M
Assets in detailPt X, end of year
CashLn 1$831K
SavingsLn 2$6.2M
Cash and savings togetherLn 1–2$7.0M
InvestmentsLn 11–13$18.5M
Land, buildings, equipmentLn 10c$1.7M
Other assetsLn 15$13.8M
Total assetsLn 16$73.7M
LiabilitiesLn 26$67.9M
Net assetsLn 32$5.8M
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 FY22End FY22
Cash and savingsLn 1–2$6.7M$7.0M
InvestmentsLn 11–13$14.0M$18.5M
Land, buildings, equipmentLn 10c$1.8M$1.7M
Total assetsLn 16$73.3M$73.7M
LiabilitiesLn 26$67.9M$67.9M
Net assetsLn 32$5.4M$5.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$207K
Other salaries and wagesLn 7$238K
Pension plan contributionsLn 8$36K
Other employee benefitsLn 9$59K
Payroll taxesLn 10$37K
Legal feesLn 11b$344
Accounting feesLn 11c$12K
Investment management feesLn 11f$980
Other fees for servicesLn 11g$22K
Advertising and promotionLn 12$51K
Office expensesLn 13$105K
Information technologyLn 14$152K
OccupancyLn 16$99K
TravelLn 17$18K
Conferences, conventions and meetingsLn 19$1K
Depreciation, depletion and amortizationLn 22$132K
InsuranceLn 23$29K
Other expenses (24a–d)Ln 24$260K
All other expensesLn 24e$12K
Total functional expensesLn 25$1.5M

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 Viewing $1.9M$1.5M$459K$5.8M 990 PDF
FY2021 $1.8M$1.5M$285K$5.4M 990 PDF
FY2020 $2.0M$1.6M$364K$5.1M 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 O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $1,932,696 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $1,433,282$1,360,284
I-10 Investment incomePrior year $297,631$513,950
I-11 Other revenuePrior year $79,201$58,462
I-12 Total revenuePrior year $1,810,114$1,932,696
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 $713,927$578,267
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $811,541$895,568
I-18 Total expensesPrior year $1,525,468$1,473,835
I-19 Revenue less expensesPrior year $284,646$458,861
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 $1,932,696 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,360,284$1,360,284
VIII-3 Investment incomeExcluded from tax $513,950$513,950
VIII-6 Net rental income or lossExcluded from tax $58,462$58,462
VIII-12 Total revenueRelated to mission $1,360,284 · Unrelated business $0 · Excluded from tax $572,412$1,932,696
Part IX · Statement of functional expenses $1,473,835 across 19 lines filed
IX-5 Pay of current officers, directors and key staff$207,434
IX-7 Other salaries and wages$238,229
IX-8 Pension plan contributions$35,995
IX-9 Other employee benefits$59,341
IX-10 Payroll taxes$37,268
IX-11b Legal fees$344
IX-11c Accounting fees$12,139
IX-11f Investment management fees$980
IX-11g Other fees for services$21,643
IX-12 Advertising and promotion$51,360
IX-13 Office expenses$104,812
IX-14 Information technology$152,259
IX-16 Occupancy$99,323
IX-17 Travel$18,295
IX-19 Conferences, conventions and meetings$1,404
IX-22 Depreciation, depletion and amortization$132,462
IX-23 Insurance$28,874
IX-24 Other expenses (24a–d)$260,069
IX-24e All other expenses$11,604
IX-25 Total functional expenses$1,473,835
Part X · Balance sheet $73,693,436 assets, 13 lines filed
Asset lines not itemized here account for $32,495,777; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $976,497$831,092
X-2 Savings and temporary cash investmentsStart of year $5,757,400$6,156,514
X-9 Prepaid expenses and deferred chargesStart of year $169,034$149,392
X-10c Land, buildings and equipment, netStart of year $1,802,565$1,738,173
X-11 Publicly traded securitiesStart of year $13,974,124$18,476,057
X-15 Other assetsStart of year $20,475,510$13,846,431
X-16 Total assetsStart of year $73,261,332$73,693,436
X-17 Accounts payable and accrued expensesStart of year $246,569$404,404
X-19 Deferred revenueStart of year $14,250$10,760
X-25 Other liabilitiesStart of year $67,646,712$67,465,610
X-26 Total liabilitiesStart of year $67,907,531$67,880,774
X-32 Total net assets or fund balancesStart of year $5,353,801$5,812,662
X-33 Total liabilities and net assetsStart of year $73,261,332$73,693,436
Part XI · Reconciliation of net assets $5,812,662 net assets at year end
XI-1 Total revenue$1,932,696
XI-2 Total expenses$1,473,835
XI-3 Revenue less expenses$458,861
XI-4 Net assets at start of year$5,353,801
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$5,812,662

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

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