2023-11-08T13:35:27-06:00 2022-12-31 840919886 JONES MERTSCHING CPAS PC 32186 CASTLE COURT SUITE 220 EVERGREEN CO 80439 990 2022-01-01 846023137 CANVAS CREDIT UNION CANV 3036912345 9990 PARK MEADOWS DRIVE LONE TREE CO 80124 COLLEEN KNOLL CFO 3036912345 2023-10-08 1 COLLEEN KNOLL 999009999 0 ERIC L JONES CPA P00634170 3034809090 2023-11-08 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z DARRYL T MARKSBERRY 9990 PARK MEADOWS DRIVE LONE TREE CO 80124 445087434 0 X WWW.CANVAS.ORG X 1938 CO CANVAS CREDIT UNION WILL STRIVE TO HELP INDIVIDUALS AND FAMILIES MAKE BETTER DECISIONS AND GROW STRONGER FINANCIALLY. WE WILL PROVIDE SIMPLE AND RELEVANT PRODUCTS AND SERVICES AT A CONSISTENTLY HONEST VALUE. WE WILL HELP MEMBERS AFFORD LIFE. 8 8 971 11 843138 0 0 0 184943200 224044894 10804063 9476816 2412193 3822250 198159456 237343960 597315 975381 0 0 62848754 73978969 0 0 0 79554641 113274782 143000710 188229132 55158746 49114828 3601131958 4272444159 3241721773 3863265517 359410185 409178642 CANVAS CREDIT UNION WILL STRIVE TO HELP INDIVIDUALS AND FAMILIES MAKE BETTER DECISIONS AND GROW STRONGER FINANCIALLY. WE WILL PROVIDE SIMPLE AND RELEVANT PRODUCTS AND SERVICES AT A CONSISTENTLY HONEST VALUE. WE WILL HELP MEMBERS AFFORD LIFE. 0 0 188229132 THE CREDIT UNION IS OWNED BY APPROXIMATELY 298,000 MEMBERS. THE CREDIT UNION PROVIDES FINANCIAL SERVICES TO ITS MEMBERS, SUCH AS CONSUMER LENDING, SHARED BRANCHING SERVICES, DEPOSIT/TRANSACTIONAL SERVICES, MORTGAGE LENDING, COMMERCIAL LENDING, HOME BANKING, BILL PAYMENT AND OTHER FINANCIAL SERVICES. 188229132 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 1 0 0 0 0 0 0 1 0 0 1 91066 0 1 971 1 1 1 0 0 0 0 0 0 0 1 0 X 8 8 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X X CANVAS CREDIT UNION 3036912345 9990 PARK MEADOWS DRIVE LONE TREE CO 80124 TIM FARRELL DIRECTOR 3.00 X 35000 0 0 TOM LASH CHAIRMAN 5.00 X 60000 0 0 SCOTT AARONSON DIRECTOR 3.00 X 35000 0 0 ROSALYNN FEAGINS VICE CHAIR 3.00 X 45000 0 0 TIM REED DIRECTOR 3.00 X 35000 0 0 JOSH BURCHFIELD TREASURER 3.00 X 35000 0 0 GARY JONES DIRECTOR 3.00 X 35000 0 0 JEROME DAVIS SECRETARY 3.00 X 35000 0 0 TANSLEY STEARNS C P&S OFFICER 40.00 X 309353 0 33593 DAVID PIERCE SVP/CIO 40.00 X 597222 0 384225 STEPHEN FERRERO CHIEF COMM ENG OFF 40.00 X 514054 0 343552 COLLEEN KNOLL CFO 40.00 X 693326 0 457552 DARRYL MARKSBERRY CEO 40.00 X 1190050 0 469908 CHAD SHANE CHIEF LENDING OFF 40.00 X 583338 0 360307 BENJAMIN GREIVING GENERAL COUNSEL 40.00 X 429643 0 333224 CHRIS MYKLEBUST CHIEF TRANSFORMATION OFFIC 40.00 X 400192 0 314931 SARA OTT CHIEF RETAIL OFFICER 40.00 X 328645 0 324007 CARLOS VAZQUEZ SVP CISO 40.00 X 333578 0 88678 RYAN KLASSEN SVP CONSUMER LENDING 40.00 X 330791 0 90043 STEVEN KITCHEN SR COMM RE LOAN OFF 40.00 X 563056 0 50339 SCOTT KLINE BUS SERV OFF 40.00 X 494496 0 47223 DAMIAN JAKUBCYK VP DIGITAL INNOVATION 40.00 X 276874 0 67711 7359618 0 3365293 86 0 1 0 CU COOPERATIVE SYSTEMS INC 9692 HAVEN AVE RANCHO CUCAMONGA CA 91730 CARD/ATM SERVICES 5254824 FINANCIAL CONSTRUCTION SERVICES 6021 EAST 50TH AVENUE COMMERCE CITY CO 80022 CONSTRUCTION 3780643 FINASTRA USA CORPORATION PO BOX 945120 ATLANTA GA 300045120 ONLINE/MOBILE BANKING 2711861 DIEBOLD INCORPORATED PO BOX 643543 PITTSBURGH PA 152643543 ATM EQUIPMENT 2260757 JACK HENRY & ASSOCIATES PO BOX 609 MONETT MO 65708 FINANCIAL PROCESSING 2232015 5 INTEREST MEMBER LOANS 522100 181454935 181454935 PLASTICS INCOME 522100 21978554 21978554 FEES MEMBER SERVICE 522100 15380233 15380233 OTHER OPERATING INCOME 522100 4118989 4118989 SHARED BRANCH INCOME 522100 1112183 1112183 224044894 5412438 -165985 5578423 1719457 0 1719457 1719457 1719457 62271047 149536805 62474275 145269199 -203228 4267606 4064378 3943052 121326 BARGAIN PURCHASE PRICE 522100 1259655 1259655 NON-MEMBER ATM FEES 522100 446969 446969 INSURANCE INCOME 524298 396169 396169 2102793 237343960 227821961 843138 8678861 975381 975381 10724910 10724910 50585352 50585352 789487 789487 7838857 7838857 4040363 4040363 3087867 3087867 4997401 4997401 10529980 10529980 4903759 4903759 1685682 1685682 4214638 4214638 5470779 5470779 PROVISION FOR LOAN LOSS 23669772 23669772 DIVIDENDS & INTEREST -M 19816298 19816298 TRANSACTION PROCESSING 15707742 15707742 OFFICE OPERATIONS 10755931 10755931 8434933 8434933 188229132 188229132 0 0 14829576 18594514 426772483 125298245 2300096 3288009 76433732 80852828 2814462394 3753933308 3478711 4100709 127033439 52516830 67194751 74516609 105983052 92041895 10268639 22855965 3775091 4676220 75633433 92285857 3601131958 4272444159 33236422 38710067 3181207 3311009 260000000 3205304144 3561244441 3241721773 3863265517 X 0 0 0 0 359410185 409178642 359410185 409178642 3601131958 4272444159 X 49114828 -12004986 12658615 X 0 1 X 1 0 1 6064451 14876442 15247536 5693357 1 X 18016610 18016610 71464378 23478869 47985509 7528775 4730076 2798699 30023676 24307885 5715791 74516609 MEMBER SHARES 541586125 OTHER MEMBER DEPOSITS 2014786884 CDS 1004871432 3561244441 X 237343960 0 237343960 0 237343960 188229132 0 188229132 0 188229132 PART IV, LINE 1B: THE CREDIT UNION SELLS FIRST MORTGAGE LOANS TO OTHERS WITH SERVICING RETAINED. THE CUSTODIAL ESCROW ACCOUNTS RELATED TO THESE MORTGAGE LOANS ARE NOT INCLUDED IN THE CREDIT UNION'S FINANCIAL STATEMENTS. PART IV, LINE 2B: THE CREDIT UNION SERVICES FIRST MORTGAGE LOANS HELD IN ITS OWN PORTFOLIO. THE CUSTODIAL ESCROW ACCOUNTS RELATED TO THESE MORTGAGE LOANS ARE INCLUDED IN THE CREDIT UNION'S FINANCIAL STATEMENTS, AND ARE REPORTED AS AN ESCROW LIABILITY. PART X, LINE 2: THE CREDIT UNION IS A STATE-CHARTERED CREDIT UNION DESCRIBED IN INTERNAL REVENUE CODE (IRC) SECTION 501(C)(14). AS SUCH, THE CREDIT UNION IS EXEMPT FROM FEDERAL TAXATION OF INCOME DERIVED FROM THE PERFORMANCE OF ACTIVITIES THAT ARE IN FURTHERANCE OF ITS EXEMPT PURPOSES, EXCEPT FOR UNRELATED BUSINESS INCOME, AS DEFINED IN IRC SECTION 512 AND IN TECHNICAL ADVICE MEMORANDUMS (TAMS) RELEASED IN 2007 TO A NUMBER OF STATE-CHARTERED CREDIT UNIONS LOCATED THROUGHOUT THE COUNTRY. IN THESE TAMS, THE INTERNAL REVENUE SERVICE RULED CERTAIN PRODUCTS AND SERVICES TO BE SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. IN LIGHT OF THE TAMS, THE CREDIT UNION HAS ASSESSED ITS ACTIVITIES AND ANY POTENTIAL FEDERAL OR STATE INCOME TAX LIABILITY. MANAGEMENT HAS DETERMINED THAT NO LIABILITY EXISTS FROM FEDERAL OR STATE TAXATION OF ACTIVITES DEEMED TO BE UNRELATED TO ITS EXEMPT PURPOSE. FASB ASC TOPIC 740, INCOME TAXES, PROVIDES GUIDANCE FOR HOW UNCERTAIN TAX POSITIONS SHOULD BE RECOGNIZED, MEASURED, DISCLOSED AND PRESENTED IN THE CONSOLIDATED FINANCIAL STATEMENTS. THIS REQUIRES THE EVALUATION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN THE COURSE OF PREPARING THE CREDIT UNION'S TAX RETURNS TO DETERMINE WHETHER THE TAX POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED "WHEN CHALLENGED OR "WHEN EXAMINED" BY THE APPLICABLE TAX AUTHORITY. TAX POSITIONS NOT DEEMED TO MEET THE MORE-LIKELY-THAN-NOT THRESHOLD WOULD BE RECORDED AS A TAX EXPENSE AND LIABILITY IN THE CURRENT YEAR. FOR THE YEAR ENDED DECEMBER 31, 2022, MANAGEMENT HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS. PART XI, LINE 4B - OTHER ADJUSTMENTS: CHANGE IN VALUATION ALLOWANCE OF MORTGAGE SERVICING RIGHTS PART XII, LINE 4B - OTHER ADJUSTMENTS: CHANGE IN VALUATION ALLOWANCE OF MORTGAGE SERVICING RIGHTS 1 BANZAI INC PO BOX 560352 DENVER CO 802560352 260233660 43731 0 DONATION BIZWEST MEDIA LLC PO BOX 270810 FORT COLLINS CO 80527 274813583 10500 0 DONATION CANVAS FOUNDATION 9990 PARK MEADOWS DRIVE LONE TREE CO 80124 811755475 99600 0 DONATION CHERRY CREEK ARTS FESTIVAL DBA CHERRYARTS 2 STEELE STREET SUITE B100 DENVER CO 80206 742546811 31253 0 DONATION CHILDREN'S HOSPITAL COLORADO FOUNDATION 13123 E 16TH AVENUE BOX 465 AURORA CO 80045 840813462 22722 0 DONATION CHILDREN'S MIRACLE NETWORK 205 WEST 700 SOUTH SALT LAKE CITY UT 84101 870387205 8400 0 DONATION CITY OF FRUITA 325 E ASPEN SUITE 155 FRUITA CO 81521 846000669 10000 0 DONATION COLORADO AUTOMOBILE DEALERS ASSOCIATION 290 E SPEER BLVD DENVER CO 80203 840368453 10000 0 DONATION COLORADO STATE UNIVERSITY 6003 CAMPUS DELIVERY 555 S HOWES ST FORT COLLINS CO 80523 846000545 80373 0 DONATION COLORADO STATE UNIVERSITY PUEBLO FOUNDATION 2200 BONFORTE BLVD PUEBLO CO 81001 846035959 100000 0 DONATION FAMILY PROMISE OF GREATER DENVER PO BOX 40550 DENVER CO 80204 841367869 7000 0 DONATION FAMILY TREE 3805 MARSHALL STREET WHEAT RIDGE CO 80033 840730973 9892 0 DONATION FISHER DEBERRY FOUNDATION 1611 S UTICA AVENUE 322 TULSA OK 74104 510476749 5400 0 DONATION GOLD CROWN FOUNDATION INC 1743 WAZEE STREET SUITE 300 DENVER CO 80202 742422126 20000 0 DONATION GOWEST FOUNDATION 18000 INTERNATIONAL BLVD SUITE 1102 SEATAC WA 98188 911649328 18113 0 DONATION HISPANIC CHAMBER OF COMMERCE OF METRO DENVER DBA COLORADO HISPANIC CHAMBER 444 SHERMAN STREET DENVER CO 80203 840845219 11100 0 DONATION MOUNTAIN WEST CREDIT UNION ASSOCIATION 2020 N CENTRAL AVE SUITE 530 PHOENIX AZ 85004 840375111 83000 0 DONATION MT CARMEL VETERANS SERVICE CENTER 530 COMMUNICATION CIR COLORADO SPRINGS CO 80905 811652178 5500 0 DONATION NATIONAL CREDIT UNION FOUNDATION INC PO BOX 78880 MILWAUKEE WI 532780880 391383650 10000 0 DONATION OUTSIDE INTERACTIVE INC DEPT CH 10740 PALATINE IL 600550740 842875265 25000 0 DONATION PLAYFLY HOLDINGS LLC DBA PLAYFLY SPORTS PROPERTIES LLC 22 CASSATT AVENUE BERWYN PA 19312 851210887 245000 0 DONATION REVEL XP LLC 2111 MARVYN PKWY OPELIKA AL 36804 853206076 9751 0 DONATION SPECIAL OLYMPICS COLORADO 12450 E ARAPAHOE RD SUITE C CENTENNIAL CO 80112 840713739 18000 0 DONATION STONE CASTLE CORPORATION DBA DOUBLE TREE BY HILTON THORNTON 83 E 120TH AVE THORNTON CO 80233 270962188 6597 0 DONATION SYNERGY IMPORTS LLC 444 HAYWARD AVE N ST PAUL MN 55128 421731869 19449 0 DONATION UMS LLC 2590 WELTON ST SUITE 200 DENVER CO 80205 881217536 25000 0 DONATION PART I, LINE 2: THE CREDIT UNION MONITORS THE USE OF GRANT FUNDS BY ATTENDING THE SPONSORSHIP EVENT AND/OR OBSERVING THE RESULTS IN THE COMMUNITY. X 1 1 X X X X 0 1 0 DARRYL MARKSBERRY CEO 784014 0 371250 0 34786 0 448156 0 21752 0 1659958 0 0 0 COLLEEN KNOLL CFO 471554 0 196810 0 24962 0 442464 0 15088 0 1150878 0 71003 0 DAVID PIERCE SVP/CIO 412837 0 169589 0 14796 0 369314 0 14911 0 981447 0 62759 0 CHAD SHANE CHIEF LENDING OFF 406479 0 160482 0 16377 0 351465 0 8842 0 943645 0 49343 0 STEPHEN FERRERO CHIEF COMM ENG OFF 357401 0 140231 0 16422 0 341486 0 2066 0 857606 0 43284 0 BENJAMIN GREIVING GENERAL COUNSEL 297391 0 116859 0 15393 0 320310 0 12914 0 762867 0 17949 0 CHRIS MYKLEBUST CHIEF TRANSFORMATION OFFIC 263687 0 124020 0 12485 0 298679 0 16252 0 715123 0 0 0 SARA OTT CHIEF RETAIL OFFICER 247320 0 64211 0 17114 0 304343 0 19664 0 652652 0 0 0 STEVEN KITCHEN SR COMM RE LOAN OFF 82843 0 473782 0 6431 0 30500 0 19839 0 613395 0 0 0 SCOTT KLINE BUS SERV OFF 84833 0 400209 0 9454 0 27508 0 19715 0 541719 0 0 0 CARLOS VAZQUEZ SVP CISO 262009 0 60000 0 11569 0 77049 0 11629 0 422256 0 26880 0 RYAN KLASSEN SVP CONSUMER LENDING 252214 0 67287 0 11290 0 76708 0 13335 0 420834 0 22699 0 DAMIAN JAKUBCYK VP DIGITAL INNOVATION 230441 0 44813 0 1620 0 58950 0 8761 0 344585 0 0 0 TANSLEY STEARNS C P&S OFFICER 147351 0 154495 0 7507 0 25902 0 7691 0 342946 0 0 0 PART I, LINE 1A SPOUSE TRAVEL WAS PROVIDED TO BOARD MEMBERS. THE SPOUSE TRAVEL BENEFITS WERE TREATED AS TAXABLE COMPENSATION IF EXCEEDED $600, AND ALL BENEFITS ARE APPROVED THROUGH THE ANNUAL BUDGETING PROCESS. PART I, LINE 4B SECTION 457(F) NON QUALIFIED DEFERRED COMPENSATION PLAN: THE CREDIT UNION HAD ESTABLISHED A NON-QUALIFIED DEFERRED COMPENSATION PLAN FOR SELECT MEMBERS OF MANAGEMENT UNDER SECTION 457(F) OF THE INTERNAL REVENUE CODE. EACH MEMBER OF MANAGEMENT WHO IS OFFERED THE PLAN MUST BE CONTINUOUSLY EMPLOYED FOR A CERTAIN NUMBER OF YEARS TO EARN THE DEFERRED COMPENSATION PAYMENT. AMOUNTS ACCRUED UNDER THE PLAN FOR 2022 WERE AS FOLLOWS: PIERCE - $339,178 FERRERO - $314,117 KNOLL - $413,302 MARKSBERRY - $417,656 SHANE - $320,965 GREIVING - $289,810 MYKLEBUST - $270,364 OTT - $280,000 AMOUNTS PAID TO PLAN PARTICIANTS IN 2022 WERE AS FOLLOWS: PIERCE - $62,759 FERRERO - $43,284 KNOLL - $71,003 SHANE - $49,343 GREIVING - $17,949 STEPHEN FERRERO OFFICER HOME X 585619 562546 0 1 1 COLLEEN KNOLL OFFICER HOME X 1351575 1193195 0 1 1 CHAD SHANE OFFICER HOME X 1700000 1603039 0 1 1 DARRYL T MARKSBERRY OFFICER HOME X 2471750 2261543 0 1 1 TANSLEY STEARNS OFFICER HOME X 394000 0 0 1 1 BENJAMIN GREIVING OFFICER HOME X 500000 455624 0 1 1 DAVID PIERCE OFFICER HOME X 1151000 903243 0 1 1 STEPHEN FERRERO OFFICER RETIREMENT X 9462961 9642757 0 1 1 BEN GREIVING OFFICER RETIREMENT X 2365584 2410530 0 1 1 COLLEEN KNOLL OFFICER RETIREMENT X 10699092 10902375 0 1 1 TODD MARKSBERRY OFFICER RETIREMENT X 25964687 26458015 0 1 1 CHRIS MYKLEBUST OFFICER RETIREMENT X 5306408 5407230 0 1 1 DAVID PEIRCE OFFICER RETIREMENT X 6073608 6189008 0 1 1 CHAD SHANE OFFICER RETIREMENT X 5756564 5865939 0 1 1 TANSLEY STEARNS OFFICER RETIREMENT X 4577598 4277938 0 1 1 RYAN KLASSEN OFFICER HOME X 395000 355673 0 1 1 CHRISTEN MYKLEBUST OFFICER HOME X 966215 904850 0 1 1 SARA OTT OFFICER HOME X 1418800 1051527 0 1 1 DOUGLAS MARKSBERRY OFFICER FAMILY MEMBER HOME X 443746 407796 0 1 1 80852828 DOUGLAS MARKSBERRY SON OF CEO 120953 COMPENSATION 0 FORM 990, PART VI, SECTION A, LINE 6 LINE 6 EXPLANATION - THE FIELD OF MEMBERSHIP OF THIS CREDIT UNION SHALL BE: A MEMBER OF THE IMMEDIATE FAMILY OF ANY PERSON WHO, UNDER THE PROVISIONS OF THIS ARTICLE, IS ELIGIBLE FOR MEMBERSHIP IN THE CREDIT UNION MAY ALSO BE ADMITTED TO MEMBERSHIP THEREIN. "IMMEDIATE FAMILY" MEANS PERSONS RELATED BY BLOOD, BY MARRIAGE OR BY ADOPTION. A MEMBER OF A HOUSEHOLD WHO RESIDES WITH A PERSON WHO, UNDER THE PROVISIONS OF THIS SECTION, IS ELIGIBLE FOR MEMBERSHIP IN THE CREDIT UNION MAY ALSO BE ADMITTED TO MEMBERSHIP THEREIN. "HOUSEHOLD" IS DEFINED AS PERSONS LIVING IN THE SAME RESIDENCE AND WHO MAINTAIN A SINGLE ECONOMIC UNIT. THIS INCLUDES ANY PERSON WHO IS A PERMANENT MEMBER OF AND PARTICIPATES IN THE MAINTENANCE OF THE HOUSEHOLD, INCLUDING FAMILY MEMBERS, DOMESTIC PARTNERS, FOSTER CHILDREN, AND LEGAL GUARDIAN RELATIONSHIPS. MEMBERSHIP INCLUDES EMPLOYEES AND RETIREES (INCLUDING THE DEFINITIONS ABOVE) OF EXCEL ENERGY, AND PAST AND PRESENT FACULTY, STAFF, STUDENT, ALUMNI, AND RETIREES OF THE UNIVERSITY OF COLORADO HEALTH SCIENCES CENTER, AND EMPLOYEES OR MEMBERS OF OTHER BUSINESS (SEGS) OR ASSOCIATIONS GENERALLY IN THE DENVER, COLORADO METROPOLITAN AREA. MEMBERSHIP ALSO INCLUDES ALL PERSONS LIVING OR WORKING IN CERTAIN COMMUNITIES OF COLORADO SPRINGS, ARVADA, LITTLETON, AURORA, THORNTON, BOUNDARIES OF DENVER INTERNATIONAL AIRPORT, SOUTHWEST PLAZA MALL, STAPLETON REDEVELOPMENT AREA, LARIMER COUNTY, AND OTHER CENSUS TRACTS GENERALLY IN THE DENVER, COLORADO METROPOLITAN AREA. IN 2022 THE CREDIT UNION MERGED WITH WESTERN ROCKIES FCU, WHICH EXPANDED FIELD OF MEMBERSHIP TO COMMUNITIES IN WESTERN COLORADO, INCLUDING GRAND JUNCTION, RIFLE, AND FRUITA. FORM 990, PART VI, SECTION A, LINE 7A LINE 7A EXPLANATION - THE MEMBERS ELECT THE GOVERNING BODY BY VOTE AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 7B LINE 7B EXPLANATION - MERGER - REQUIRES TWO THIRDS MAJORITY VOTE OF VOTING MEMBERS. CHARTER CONVERSION - REQUIRES TWO THIRDS MAJORITY VOTE OF VOTING MEMBERS. DISSOLUTION AND LIQUIDATION - REQUIRES MAJORTY VOTE OF ENTIRE MEMBERSHIP. FORM 990, PART VI, SECTION B, LINE 11B LINE 11B EXPLANATION - MANAGEMENT PROVIDES THE REQUIRED INFOMATION TO THE CREDIT UNION'S INDEPENDENT CPA FIRM FOR COMPLETION OF THE FORM 990. FORM 990, PART VI, SECTION B, LINE 12C THE DIRECTORS COMPLETE THE CONFLICT OF INTEREST DISCLOSURE FOLLOWING EACH ANNUAL MEETING. ON AN ANNUAL BASIS, THE BOARD RECEIVES A PRESENTATION ON FIDUCIARY RESPONSIBILITIES/ETHICS. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE CEO, SENIOR EXECUTIVES, VICE PRESIDENT, ASSISTANT VICE PRESIDENT, AND OTHER HIGHLY COMPENSATED EMPLOYEES (SPECIFICALLY MORTGAGE AND COMMERCIAL LOAN ORIGINATORS) WAS REVIEWED AND APPROVED IN 2022. AN INDEPENDENT COMPENSATION FIRM, THE CARDWELL GROUP, WAS ENGAGED BY THE BOARD TO REVIEW THE CEO'S COMPENSATION PLAN, AND THE CARDWELL GROUP WAS SEPARATELY ENGAGED BY THE ORGANIZATION TO REVIEW THE COMPENSATION OF THE OTHER KEY EMPLOYEES REFERENCED IN LINE 15B. THE CARDWELL GROUP PROVIDED INDEPENDENT AND MARKET-BASED DATA, AND ASSISTED THE ORGANIZATION WITH REVISING ITS COMPENSATION PHILOSOPHY. THE PHILOSOPHY TAKES INTO CONSIDERATION SEVERAL FACTORS, INCLUDING: PERFORMANCE; MARKET DATA; TOTAL COMPENSATION; AND THE LONG-TERM FINANCIAL CONDITION OF THE ORGANIZATION. COMPENSATION FOR THE CEO AND OTHER KEY EMPLOYEES WAS ADJUSTED BASED ON THIS PHILOSOPHY AND THE INDEPENDENT DATA PROVIDED BY THE CARDWELL GROUP. FORM 990, PART VI, SECTION C, LINE 19 OTHER THAN THE FORM 990, NO DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 9: CAPITAL ACQUIRED IN MERGER 12,658,615. FORM 990 - SCH L - PART II THE CREDIT UNION OFFERS A 1% LOAN DISCOUNT RATE ON CONSUMER LOANS AND FIRST MORTGAGES TO ALL EMPLOYEES, AND OFFERS A 2% DISCOUNT RATE ON FIRST MORTGAGE LOANS TO SELECT EMPLOYEES ONLY. CANVAS FOUNDATION 9990 PARK MEADOWS DRIVE LONE TREE CO 80124 811755475 COMMUNITY FOUNDATION CO 501(C)(3) 509(A)(2) 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 CANVAS FOUNDATION B 99600 CASH