Clarity Credit Union
- Assets
- $194.4m
- Revenue
- $13.3m
- Investments
- $10.9m
- Employees
- 61
- Location
- Nampa, ID
- Founding
- Data as of
- 12/2023
- EIN
- 82-0202653
Organization Overview
Clarity Credit Union is located in Nampa, ID. As of 12/2023, Clarity Credit Union employed 61 individuals. Clarity Credit Union is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.
For the year ending 12/2023, Clarity Credit Union generated $13.3m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 10.7% each year . All expenses for the organization totaled $11.1m during the year ending 12/2023. While expenses have increased by 9.0% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
ENRICH QUALITY OF LIFE IN OUR COMMUNITIES BY PROVIDING FAIR PRODUCTS FOR PEOPLE WITH MODEST MEANS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CLARITY CREDIT UNION SERVICES 17,960 MEMBERS IN 2023. MEMBER SERVICES ENCOURAGE THRIFT AND SAVING AND INCLUDE SAVINGS, CHECKINGS, LOANS, CDS, DEBIT CARDS, CREDIT CARDS, AND MORTGAGES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brett Spencer Board Chair | OfficerTrustee | 0.8 | $0 |
Cory Edwards Vice Chair | OfficerTrustee | 0.5 | $0 |
Vivian Firkin Secretary/treasurer | OfficerTrustee | 0.8 | $0 |
Ed Barney Director | Trustee | 0.5 | $0 |
Kathleen Archer Director | Trustee | 0.5 | $0 |
Karen Serratos Director | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
K2 Construction Inc General Contractor/building Contractor | 12/30/22 | $564,622 |
Prodigy Core Banking System | 12/30/22 | $331,795 |
National Credit Union Administration Regulator And Deposit Insurance | 12/30/22 | $330,882 |
Syringa Networks Llc Internet Service Provider | 12/30/22 | $112,780 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $11,429,015 |
| Investment income | $1,282,828 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $135,874 |
| Net Gain/Loss on Asset Sales | $293,186 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,336,172 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $66,848 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $693,436 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,528,371 |
| Pension plan accruals and contributions | $124,686 |
| Other employee benefits | $659,160 |
| Payroll taxes | $243,974 |
| Fees for services: Management | $23,333 |
| Fees for services: Legal | $17,578 |
| Fees for services: Accounting | $53,573 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $341,479 |
| Advertising and promotion | $83,648 |
| Office expenses | $239,719 |
| Information technology | $96,937 |
| Royalties | $0 |
| Occupancy | $287,166 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $78,386 |
| Interest | $1,822,002 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $382,281 |
| Insurance | $82,844 |
| All other expenses | $652,233 |
| Total functional expenses | $11,050,987 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,525,583 |
| Savings and temporary cash investments | $8,454,000 |
| Pledges and grants receivable | $907,368 |
| Accounts receivable, net | $116,411 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $128,864,906 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $590,316 |
| Net Land, buildings, and equipment | $10,051,894 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $10,903,765 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $33,001,935 |
| Total assets | $194,416,178 |
| Accounts payable and accrued expenses | $337,044 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $178,412,598 |
| Total liabilities | $178,749,642 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $15,666,536 |
| Total liabilities and net assets/fund balances | $194,416,178 |
Grants Awarded
Over the last fiscal year, Clarity Credit Union has awarded $65,115 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ST LUKE'S HEALTH FOUNDATION LTD PURPOSE: FOR THE HEALTH AND WELL-BEING OF CHILDREN IN OUR COMMUNITY. | $13,900 |
CHILDRENS MIRACLE NETWORK PURPOSE: FUNDS RAISED FROM GOLF TOURNAMENTS TO BENEFIT ST. LUKE'S HOSPITAL. | $51,215 |