Financial Horizons Credit Union is located in Hawthorne, NV. The organization was established in 1980. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2019, Financial Horizons Credit Union employed 55 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Financial Horizons 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 12/2019, Financial Horizons Credit Union generated $8.6m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 6.1% each year. All expenses for the organization totaled $6.6m during the year ending 12/2019. While expenses have increased by 4.7% per year over the past 5 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
FINANCIAL COOPERATIVE PROVIDING FINANCIAL SERVICES (SOLUTIONS) TO THE MEMBER/OWNERS OF THE CREDIT UNION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE FINANCIAL SERVICES AND SOLUTIONS TO THE MEMBERS/OWNERS OF THE CREDIT UNION.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Chris Schneider CFO | Officer | 40 | $111,317 |
Theresa Lupori CEO | Officer | 40 | $108,275 |
Doug Homestead Treasurer | OfficerTrustee | 2 | $0 |
Jim Scott Chairman | OfficerTrustee | 4 | $0 |
Penny Madraso Secretary | OfficerTrustee | 1 | $0 |
Randall Emm Vice Chairman | OfficerTrustee | 2 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Christopher Peterson It And Consulting Services | 12/30/19 | $103,167 |
Fiserv Provides Member Services To The Credit U | 12/30/19 | $1,154,318 |
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 | $6,782,478 |
Investment income | $1,778,306 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $12,919 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $8,573,703 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
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. | $248,948 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $1,718,654 |
Pension plan accruals and contributions | $69,434 |
Other employee benefits | $303,442 |
Payroll taxes | $164,205 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $54,500 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $24,823 |
Fees for services: Other | $100,435 |
Advertising and promotion | $0 |
Office expenses | $531,702 |
Information technology | $1,479,042 |
Royalties | $0 |
Occupancy | $342,932 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $3,346 |
Interest | $718,966 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $0 |
All other expenses | $33,769 |
Total functional expenses | $6,600,282 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $14,206,115 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $102,405,877 |
Loans from Officers, Directors, or Controlling Persons | $3,607,786 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $0 |
Net Land, buildings, and equipment | $5,050,200 |
Investments—publicly traded securities | $0 |
Investments—other securities | $68,117,343 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $3,932,797 |
Total assets | $197,320,118 |
Accounts payable and accrued expenses | $492,593 |
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 | $173,096,253 |
Total liabilities | $173,588,846 |
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 | $23,731,272 |
Total liabilities and net assets/fund balances | $197,320,118 |
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