Benton County Schools Credit Union FY2023 filing

Not tax-deductible

Corvallis, ORMutual-benefit / member-servingSince 1953Mutual / membership EIN 93-0465079Revenue $2.3M in FY2023

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.

$191K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

Before you give

FY2023 · 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
$191K
to officers and key staff · 11% of spending
Looks good: pay to officers and key staff is 11% of spending; 15% or less.
Pt VII · Sec A
44 mo
of spending, in cash
Plus $17.0M in investments, Pt X · Ln 11–13
Looks good: 43.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$58.8M
90% of total assets
Concern: liabilities are 90% 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
$2.3M
+20% vs prior year
Spent
$1.8M
Net assets
$6.4M
By yearFY2020–FY2025
Revenue
$2.3M
FY2023▲ +20%
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
$1.8M
FY2023▲ +20%
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
$6.4M
FY2023▲ +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 FY2023 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 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; $191K paid to officers and key staff.

Part VII, Section A · reportable compensation
$63,198Pt VII · Sec A
$59,654Pt VII · Sec A
$52,843Pt VII · Sec A
Second Vice Chair
$15,604Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Chairperson
$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.

See Benton County Schools Credit Union executive salaries →

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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 · FY2023
01

Credit Union Programs

2,220 members served with 3,364 savings accounts established and 214 certificates of deposit. Funded 1,574 loans to members.

Pt IX · col B

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$2.3M
Ln 12
Fees for servicesLn 2g$1.4M
Investment incomeLn 3$827K
Other incomeLn 4–11$50K
Money outPt IX
$1.8M
Ln 25
Owns and owesPt X
$6.4M
net assets · Ln 32
Cash and savingsLn 1–2$6.5M
Total assetsLn 16$65.2M
LiabilitiesLn 26$58.8M
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$827K
Other incomeLn 4–11$50K
Total revenueLn 12$2.3M
Assets in detailPt X, end of year
CashLn 1$828K
SavingsLn 2$5.6M
Cash and savings togetherLn 1–2$6.5M
InvestmentsLn 11–13$17.0M
Land, buildings, equipmentLn 10c$2.0M
Other assetsLn 15$7.1M
Total assetsLn 16$65.2M
LiabilitiesLn 26$58.8M
Net assetsLn 32$6.4M
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 FY23End FY23
Cash and savingsLn 1–2$7.0M$6.5M
InvestmentsLn 11–13$18.5M$17.0M
Land, buildings, equipmentLn 10c$1.7M$2.0M
Total assetsLn 16$73.7M$65.2M
LiabilitiesLn 26$67.9M$58.8M
Net assetsLn 32$5.8M$6.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$256K
Other salaries and wagesLn 7$227K
Pension plan contributionsLn 8$22K
Other employee benefitsLn 9$52K
Payroll taxesLn 10$33K
Legal feesLn 11b$2K
Accounting feesLn 11c$20K
Investment management feesLn 11f$980
Other fees for servicesLn 11g$20K
Advertising and promotionLn 12$83K
Office expensesLn 13$101K
Information technologyLn 14$150K
OccupancyLn 16$102K
TravelLn 17$30K
Conferences, conventions and meetingsLn 19$5K
Depreciation, depletion and amortizationLn 22$135K
InsuranceLn 23$31K
Other expenses (24a–d)Ln 24$475K
All other expensesLn 24e$17K
Total functional expensesLn 25$1.8M

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 Viewing $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 $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 FY2023 990 (6 parts)
Part I · Summary $2,314,171 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $1,360,284$1,437,038
I-10 Investment incomePrior year $513,950$826,884
I-11 Other revenuePrior year $58,462$50,249
I-12 Total revenuePrior year $1,932,696$2,314,171
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 $578,267$590,530
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $895,568$1,172,039
I-18 Total expensesPrior year $1,473,835$1,762,569
I-19 Revenue less expensesPrior year $458,861$551,602
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 $2,314,171 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,437,038$1,437,038
VIII-3 Investment incomeExcluded from tax $826,884$826,884
VIII-6 Net rental income or lossExcluded from tax $50,249$50,249
VIII-12 Total revenueRelated to mission $1,437,038 · Unrelated business $0 · Excluded from tax $877,133$2,314,171
Part IX · Statement of functional expenses $1,762,569 across 19 lines filed
IX-5 Pay of current officers, directors and key staff$256,184
IX-7 Other salaries and wages$227,001
IX-8 Pension plan contributions$22,273
IX-9 Other employee benefits$51,670
IX-10 Payroll taxes$33,402
IX-11b Legal fees$1,940
IX-11c Accounting fees$20,046
IX-11f Investment management fees$980
IX-11g Other fees for services$20,495
IX-12 Advertising and promotion$83,097
IX-13 Office expenses$101,359
IX-14 Information technology$150,063
IX-16 Occupancy$101,607
IX-17 Travel$29,679
IX-19 Conferences, conventions and meetings$5,339
IX-22 Depreciation, depletion and amortization$134,878
IX-23 Insurance$30,598
IX-24 Other expenses (24a–d)$474,546
IX-24e All other expenses$17,412
IX-25 Total functional expenses$1,762,569
Part X · Balance sheet $65,186,441 assets, 13 lines filed
Asset lines not itemized here account for $32,513,617; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $831,092$827,661
X-2 Savings and temporary cash investmentsStart of year $6,156,514$5,624,059
X-9 Prepaid expenses and deferred chargesStart of year $149,392$157,322
X-10c Land, buildings and equipment, netStart of year $1,738,173$2,006,816
X-11 Publicly traded securitiesStart of year $18,476,057$16,978,021
X-15 Other assetsStart of year $13,846,431$7,078,945
X-16 Total assetsStart of year $73,693,436$65,186,441
X-17 Accounts payable and accrued expensesStart of year $404,404$205,132
X-19 Deferred revenueStart of year $10,760$7,270
X-25 Other liabilitiesStart of year $67,465,610$58,609,775
X-26 Total liabilitiesStart of year $67,880,774$58,822,177
X-32 Total net assets or fund balancesStart of year $5,812,662$6,364,264
X-33 Total liabilities and net assetsStart of year $73,693,436$65,186,441
Part XI · Reconciliation of net assets $6,364,264 net assets at year end
XI-1 Total revenue$2,314,171
XI-2 Total expenses$1,762,569
XI-3 Revenue less expenses$551,602
XI-4 Net assets at start of year$5,812,662
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$6,364,264

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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