Blupeak Credit Union

Not tax-deductible

San Diego, CAMutual-benefit / member-servingSince 1936EIN 95-1209332Revenue $63.5M in FY2024

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We transform lives by making dreams happen!

Run by 14 volunteers and 227 employees.
Mission: Form 990 Part I, line 1 · People: Part I, lines 5–6

Before you give

FY2024 · 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
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 $307K a year · under 1% 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
$3.3M
to officers and key staff · 5% of spending
Looks good: pay to officers and key staff is 5% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
22 mo
of spending, in cash
Looks good: 22.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $8K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.1B
94% of total assets
Concern: liabilities are 94% of assets; over 80%.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$63.5M
+2% vs prior year
Spent
$69.9M
Net assets
$76.4M
By yearFY2020–FY2024
Revenue
$63.5M
FY2024▲ +2%
Revenue by fiscal year
FY2020$41.3M
FY2021$40.6M
FY2022$46.0M
FY2023$62.4M
FY2024$63.5M
Expenses
$69.9M
FY2024▲ +16%
Expenses by fiscal year
FY2020$39.4M
FY2021$40.1M
FY2022$42.7M
FY2023$60.1M
FY2024$69.9M
Net assets
$76.4M
FY2024▼ -8%
Net assets by fiscal year
FY2020$105.7M
FY2021$102.4M
FY2022$77.6M
FY2023$83.3M
FY2024$76.4M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 1961.

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

Who runs it and what they're paid

21 people listed on the 990; $3.3M paid to officers and key staff.

Part VII, Section A · reportable compensation
President/CEO
$840,268Pt VII · Sec A
SVP/Chief Credit Officer
$271,363Pt VII · Sec A
SVP/Chief Risk Officer
$266,263Pt VII · Sec A
Former VP Real Estate & Capital Markets
$254,067Pt VII · Sec A
SVP/CFO/Secretary
$239,534Pt VII · Sec A
VP Enterprise Tech. & Architecture
$233,051Pt VII · Sec A
SVP/Chief Experience Officer
$213,351Pt VII · Sec A
VP/Chief People Officer
$183,199Pt VII · Sec A

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

NameFY2024FY2023FY2022FY2021FY2020
Todd Tharp$840,268$712,968$670,005$377,891$330,203
James Harris——$585,457$581,624$615,516
Laura Young——$204,971$559,602$318,562
Matthew Lyons$174,870$492,326$506,283$346,430$315,931
Shelley Duckart————$324,692
Shelly Duckart———$307,826—
Margarita Guerra—$188,922$301,430$174,382—
Stephen Ewers————$297,072

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 Blupeak 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
  • Loans to or from officersSch L · Pt II1 listed

Programs and updates

Helps people achieve their dreams, transforming lives.

Provided by the organization

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3 programs · in their own filed words · FY2024
01

Since 1936, blupeak credit union ("blupeak") has been helping people achieve their most important financial goals. As one of california's largest credit unions, blupeak offers full-service banking including free and low-cost e-services.

Pt IX · col B
02

Membership in blupeak credit union ("blupeak") provides access to a robust array of quality financial services and products including checking and savings accounts. Unlike banks, which return their profits to shareholders, blupeak credit union returns its profits to members in the form of higher rates on deposits and a host of free and…

Pt IX · col B
03

As a member-owned, not-for-profit cooperative, blupeak credit union ("blupeak") is dedicated to providing the financial products and services members need at every stage of life. Whether it's buying a first car, financing a new home, or seeking a higher education, blupeak offers members low-cost home, vehicle, and personal loans, as well…

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 · received and paid
Grants received · FY2024
Total grants receivedfrom 1 funder$8K
Grants paid · 2 grants · $27K · 2022–2023
The Campanile FoundationCA · FY2023$20,700
Unitemized GrantFY2022$6,500

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$63.5M
Ln 12
Fees for servicesLn 2g$45.5M
Investment incomeLn 3$17.0M
Other incomeLn 4–11$910K
Money outPt IX
$69.9M
Ln 25
Owns and owesPt X
$76.4M
net assets · Ln 32
Cash and savingsLn 1–2$129.1M
Total assetsLn 16$1.2B
LiabilitiesLn 26$1.1B
PeoplePt VI, VII
21
listed · VII A
PaidVII A13
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$45.5M
Investment incomeLn 3$17.0M
Other incomeLn 4–11$910K
Gains on assetsLn 7$45K
Total revenueLn 12$63.5M
Assets in detailPt X, end of year
CashLn 1$129.1M
Cash and savings togetherLn 1–2$129.1M
InvestmentsLn 11–13$151.8M
Land, buildings, equipmentLn 10c$28.0M
Other assetsLn 15$75.6M
Total assetsLn 16$1.2B
LiabilitiesLn 26$1.1B
Net assetsLn 32$76.4M
OperationsPt I, VI
EmployeesI 5227
VolunteersI 614
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 FY24End FY24
Cash and savingsLn 1–2$315.3M$129.1M
InvestmentsLn 11–13$156.1M$151.8M
Land, buildings, equipmentLn 10c$29.9M$28.0M
Total assetsLn 16$1.47B$1.21B
LiabilitiesLn 26$1.39B$1.13B
Net assetsLn 32$83.3M$76.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$2.4M
Other salaries and wagesLn 7$10.5M
Pension plan contributionsLn 8$473K
Other employee benefitsLn 9$1.4M
Payroll taxesLn 10$998K
Legal feesLn 11b$223K
Accounting feesLn 11c$210K
Other fees for servicesLn 11g$2.6M
Advertising and promotionLn 12$1.6M
Office expensesLn 13$1.6M
Information technologyLn 14$5.0M
OccupancyLn 16$2.0M
TravelLn 17$123K
Conferences, conventions and meetingsLn 19$114K
InterestLn 20$208K
Depreciation, depletion and amortizationLn 22$2.5M
InsuranceLn 23$179K
Other expenses (24a–d)Ln 24$35.9M
All other expensesLn 24e$2.0M
Total functional expensesLn 25$69.9M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $63.5M$69.9M−$6.5M$76.4M 990 PDF
FY2023 $62.4M$60.1M$2.3M$83.3M 990 PDF
FY2022 $46.0M$42.7M$3.3M$77.6M 990 PDF
FY2021 $40.6M$40.1M$547K$102.4M 990 PDF
FY2020 $41.3M$39.4M$1.9M$105.7M 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 FY2024 990 (6 parts)
Part I · Summary $63,463,155 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $46,598,261$45,523,045
I-10 Investment incomePrior year $15,826,856$17,029,968
I-11 Other revenuePrior year −$46,399$910,142
I-12 Total revenuePrior year $62,378,718$63,463,155
I-13 Grants and similar amounts paidPrior year $20,700$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $16,898,110$15,757,071
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $43,195,799$54,183,538
I-18 Total expensesPrior year $60,114,609$69,940,609
I-19 Revenue less expensesPrior year $2,264,109−$6,477,454
Part VI · Governance 7 of 7 board members independent, no flags
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
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 $63,463,155 across 5 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $45,496,794 · Unrelated business $26,251$45,523,045
VIII-3 Investment incomeExcluded from tax $16,985,398$16,985,398
VIII-6 Net rental income or lossExcluded from tax $910,142$910,142
VIII-7 Net gain or loss on sales of assetsExcluded from tax $44,570$44,570
VIII-12 Total revenueRelated to mission $45,496,794 · Unrelated business $26,251 · Excluded from tax $17,940,110$63,463,155
Part IX · Statement of functional expenses $69,940,609 across 19 lines filed
IX-5 Pay of current officers, directors and key staff$2,436,960
IX-7 Other salaries and wages$10,465,137
IX-8 Pension plan contributions$473,482
IX-9 Other employee benefits$1,383,557
IX-10 Payroll taxes$997,935
IX-11b Legal fees$222,655
IX-11c Accounting fees$209,694
IX-11g Other fees for services$2,608,499
IX-12 Advertising and promotion$1,595,791
IX-13 Office expenses$1,563,898
IX-14 Information technology$5,025,289
IX-16 Occupancy$1,961,905
IX-17 Travel$123,083
IX-19 Conferences, conventions and meetings$113,547
IX-20 Interest$207,787
IX-22 Depreciation, depletion and amortization$2,466,785
IX-23 Insurance$179,159
IX-24 Other expenses (24a–d)$35,917,385
IX-24e All other expenses$1,988,061
IX-25 Total functional expenses$69,940,609
Part X · Balance sheet $1,207,155,502 assets, 11 lines filed
Asset lines not itemized here account for $819,793,204; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $315,326,344$129,083,750
X-9 Prepaid expenses and deferred chargesStart of year $2,672,646$2,931,924
X-10c Land, buildings and equipment, netStart of year $29,924,359$27,976,391
X-12 Other securitiesStart of year $156,055,523$151,782,633
X-15 Other assetsStart of year $76,773,234$75,587,600
X-16 Total assetsStart of year $1,472,619,773$1,207,155,502
X-17 Accounts payable and accrued expensesStart of year $4,021,973$2,499,746
X-25 Other liabilitiesStart of year $1,333,857,397$1,127,011,690
X-26 Total liabilitiesStart of year $1,389,310,887$1,130,756,299
X-32 Total net assets or fund balancesStart of year $83,308,886$76,399,203
X-33 Total liabilities and net assetsStart of year $1,472,619,773$1,207,155,502
Part XI · Reconciliation of net assets $76,399,203 net assets at year end
XI-1 Total revenue$63,463,155
XI-2 Total expenses$69,940,609
XI-3 Revenue less expenses−$6,477,454
XI-4 Net assets at start of year$83,308,886
XI-5 Net unrealized gains (losses) on investments−$432,229
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$76,399,203

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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