Red Rocks Credit Union
- Assets
- $358.5m
- Revenue
- $14.1m
- Investments
- $3.4m
- Employees
- 0
- Location
- Littleton, CO
- Founding
- 08/1968
- Data as of
- 12/2021
- EIN
- 84-0808889
Organization Overview
Red Rocks Credit Union is located in Littleton, CO. The organization was established in 1968. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Red Rocks 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 12/2021, Red Rocks Credit Union generated $14.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.4% each year. All expenses for the organization totaled $14.8m during the year ending 12/2021. While expenses have increased by 7.3% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ENCOURAGE, ENABLE AND UNDERWRITE THE HOPES, DREAMS, AND ASPIRATIONS OF OUR MEMBERS TO HAVE MAXIMUM IMPACT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CREDIT UNION IS OWNED BY APPROXIMATELY 16,100 MEMBERS. THE CREDIT UNION PROVIDES FINANCIAL SERVICES TO ITS MEMBERS, SUCH AS CONSUMER LENDING, SHARED BRANCHING SERVICES, DEPOSIT/TRANSACTIONAL SERVICES, MORTGAGE LENDING, HOME BANKING, BILL PAYMENT AND OTHERS FINANCIAL SERVICES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patrick T Ahern Former CEO | Officer | 40 | $614,115 |
Darius Wise President/coo | Officer | 40 | $253,096 |
Elizabeth Guerrero CFO | Officer | 40 | $248,210 |
Brooke Christofferson Cmo | Officer | 40 | $161,346 |
Jessica Hoyle Senior VP | 40 | $148,378 | |
Matthew Clements Senior VP | 40 | $115,644 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Vesta Contractor | 12/30/17 | $401,702 |
Elements Furn & Bldg Improv | 12/30/17 | $203,840 |
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 | $13,986,210 |
| Investment income | $627,751 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,106,899 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $158,865 |
| 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. | $1,453,396 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,486,048 |
| Pension plan accruals and contributions | $34,457 |
| Other employee benefits | $655,575 |
| Payroll taxes | $347,033 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $60,382 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $596,633 |
| Advertising and promotion | $925,171 |
| Office expenses | $0 |
| Information technology | $1,367,185 |
| Royalties | $0 |
| Occupancy | $577,786 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $285,018 |
| Interest | $48 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $835,182 |
| Insurance | $0 |
| All other expenses | -$83,461 |
| Total functional expenses | $14,816,341 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $28,649,634 |
| Savings and temporary cash investments | $9,756,856 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,660,173 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $269,792,890 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $471,751 |
| Net Land, buildings, and equipment | $13,148,474 |
| Investments—publicly traded securities | $25,929,137 |
| Investments—other securities | $3,448,831 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,672,346 |
| Total assets | $358,530,092 |
| Accounts payable and accrued expenses | $3,122,040 |
| 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 | $323,561,238 |
| Total liabilities | $326,683,278 |
| 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 | $31,846,814 |
| Total liabilities and net assets/fund balances | $358,530,092 |
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