2023-08-23T16:01:59-07:00 2022-12-31 990 2022-01-01 956111723 ADELFI CREDIT UNION ADEL 7146715700 955 West Imperial Highway Suite 100 Brea CA 92821 Nicolette Harms SVP/CFO 7146715700 2023-08-23 1 1 11 0 AAL2 X 2022 2023-04-26 12:10:37Z X Abel Pomar 955 West Imperial Highway Suite 100 Brea CA 92821 55925105 0 X WWW.ADELFIBANKING.COM X 1964 CA Adelfi partners with individuals, families, Christ-centered ministries and businesses to protect, grow, and share their financial resources. X 10 10 116 17 0 0 0 0 23473144 22738707 1104978 31576174 4255772 1610224 28833894 55925105 194200 3536606 0 0 14004068 11999177 0 0 0 8831598 11151719 23029866 26687502 5804028 29237603 581626285 574129929 520080665 484882336 61545620 89247593 Adelfi partners with individuals, families, Christ-centered ministries and businesses to protect, grow, and share their financial resources. Through their accounts at Adelfi, members help to advance the Kingdom, so that one (brother or sister in Christ) impacts many. 0 0 26687502 Adelfi Credit Union provided credit union services to our members. Our membership totaled 15,213 as of December 31, 2022. 0 0 0 26687502 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 4830 0 0 116 1 0 0 0 0 0 0 0 0 X 10 10 1 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X Nicki Harms 7146715700 955 West Imperial Highway Suite 100 Brea CA 92821 Gregory C Talbott SVP/CFO 40 0 X 742536 0 43712 Abel Luis Pomar President/CEO 40 0 X 654006 0 41212 Joel Santiago Senior Relationship Manager 40 0 X 455252 0 24891 Bentley Hatcher SVP, Chief Lending Officer 40 0 X 420687 0 43056 Charles Kelly SVP, Chief Technology and Operations Officer 40 0 X 336789 0 38131 Susan B Rushing SVP, Chief Risk Officer 40 0 X 322653 0 19664 Brian Constable VP, Enterprise Banking 40 0 X 261295 0 36630 Gilbert Walden Senior Relationship Manager 40 0 X 249800 0 40365 Jimmy Lee SVP, Chief Marketing Officer 40 0 X 255209 0 31009 James Babbage Director of Commercial Banking 40 0 X 231466 0 33623 Heath Burke VP Information Technology 40 0 X 205255 0 35493 Nicolette Harms SVP/CFO 40 0 X 101307 0 10553 R Todd Anderson Treasurer, Director 5 0 X 6294 0 0 Holly Culhane Vice Chair, Director 5 0 X X 1659 0 0 Van E Elliott Director 5 0 X X 1378 0 0 Caryn Ryan Secretary, Director 5 0 X 0 0 0 Graham Crain Chairman, Director 5 0 X 0 0 0 Sebastian Igreti Director 5 0 X 0 0 0 Joshua Guttau Director 5 0 X 0 0 0 Christopher Montes Vice-Chair, Director 5 0 X 0 0 0 Jeremy Anderson Director 5 0 X 0 0 0 John Bastian Secretary, Director 5 0 X 0 0 0 Hal Hoxie Director 5 0 X 0 0 0 Hilda Kennedy Director 5 0 X 0 0 0 4245586 0 398339 40 1 1 0 Mighty Roar LLC 880 Marrietta Hwy Suite 630-341 Roswell GA 30075 Marketing Services 1077708 Q2 Software Inc PO BOX 205970 Dallas TX 753205970 Data Processing Services 648677 Fiserv Inc PO BOX 208457 Dallas TX 753208457 Banking Operations System 573975 Kasasa LTD PO BOX527 Lubbock TX 79408 Banking Marketing Service 412764 IV Capital Partners LLC PO Box 3316 Laguna Hills CA 92654 Consulting Services 289000 16 0 22738707 22738707 0 0 22738707 1976280 1976280 0 0 0 0 0 0 0 0 0 0 1610224 0 0 0 1610224 0 1610224 1610224 0 0 0 29599894 0 0 0 29599894 29599894 29599894 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 55925105 55925105 0 0 3536606 0 0 0 1115667 0 7477685 1348024 1386003 671798 0 126 286600 0 0 0 523660 1233345 678526 2372545 0 336748 8436 0 17148 2629338 0 832092 528891 Provision for Loan Loss -577581 Member Transactions 2398944 all other expenses -117099 26687502 0 0 0 680168 723013 21834487 25432351 0 0 0 0 0 0 0 0 408567376 468216685 0 0 2462667 1171617 7183264 6820688 42361519 362576 77328599 53751559 0 0 11023294 10581626 0 0 17368175 13890502 581626285 574129929 9058091 10990815 0 0 267056 0 0 0 0 0 0 0 5000000 1647345 0 0 505755518 472244176 520080665 484882336 X 0 0 0 0 61545620 89247593 61545620 89247593 581626285 574129929 29237603 -1535630 0 0 0 0 X 0 1 X 1 0 0 0 0 0 0 0 0 0 0 0 0 0 7183264 6820688 362576 0 0 0 0 362576 0 Member Deposits 472244176 472244176 X 55925105 0 0 0 0 0 55925105 0 0 0 55925105 26687502 0 0 0 0 0 26687502 0 0 0 26687502 Schedule D, Part X, Line 2 The Credit Union had no unrecognized tax benefits at December 31, 2022 and 2021. Interest and penalties related to unrecognized tax benefits are recognized by the Credit Union as an administrative expense. During the year ended December 31, 2022, the Credit Union recognized $3,024 in penalties. During the year ended December 31, 2021, the Credit Union did not recognize any penalty. 1 Central Christian College 1201 S Main St McPherson KS 67460 480577656 501 ( c ) 3 10000 0 General Support Firm Foundations Romania 13405 Folsom Blvd Suite 511 Folsom CA 95630 273279499 501 ( c ) 3 10000 0 General Support Legacy Inc PO BOX 4228 Visalia CA 93278 364727578 501 ( c ) 3 10000 0 General Support Mt Zion Baptist Church 224 W California St Ontario CA 91762 330029184 501 ( c ) 3 10000 0 General Support National Christian College Athletic Assn 302 W Washington St Greenville SC 29601 581495626 501 ( c ) 3 10000 0 General Support Open Air Campaigners US Inc PO Box D Nazareth PA 18064 362420024 501 ( c ) 3 10000 0 General Support Standing Stone Ministries PO Box 11028 Newport Beach CA 92658 455319818 501 ( c ) 3 10000 0 General Support Wycliffe Bible Translators Inc PO Box 628200 Orlando FL 32862 951831097 501 ( c ) 3 9700 0 General Support All About Marriage 1230 Rosecrans Ave Suite 300 Manhattan Beach CA 90266 384134424 501 ( c ) 3 7000 0 General Support One Collective NFP 2155 Point Blvd Suite 200 Elgin IL 60123 366069820 501 ( c ) 3 5900 0 General Support OC International PO BOX 36900 Colorado CO 80936 941501634 501 ( c ) 3 5500 0 General Support 11 0 Schedule I, Part I, Line 2 The Board of Directors determines the annual grant allocation limit for officials. An official must complete the Ministry Grant Recommendation Form for an appropriate 501(c)(3) organization that aligns with Adelfi' s mission. The official sends the completed form to the Board Chair or the Supervisory Committee Chair for approval. The approved form is sent to the Adelfi Board liaison for processing. The Board liaison notifies the requestor when the check is sent and sends a copy of the letter. Annually, the liaison provides the Board of Directors with a report of the grants given. The Chief Executive Officer is authorized to make grants for missionaries and has assigned this authority to the Adelfi Missions Committee. No unsolicited grant proposals are accepted. X 1 1 X X 1 0 0 Abel Luis Pomar President/CEO 493904 0 160102 0 0 0 9150 0 32062 0 695218 0 0 Gregory C Talbott SVP/CFO 319100 0 393853 0 29584 0 9150 0 34562 0 786249 0 0 Susan B Rushing SVP, Chief Risk Officer 247620 0 74150 0 883 0 9150 0 10514 0 342317 0 0 Charles Kelly SVP, Chief Technology and Operations Officer 262650 0 74139 0 0 0 9150 0 28981 0 374920 0 0 Bentley Hatcher SVP, Chief Lending Officer 330000 0 90687 0 0 0 381 0 42675 0 463743 0 0 Jimmy Lee SVP, Chief Marketing Officer 232240 0 22969 0 4099 0 7777 0 23231 0 290316 0 0 Nicolette Harms SVP/CFO 96936 0 0 0 4371 0 2954 0 7599 0 111860 0 0 Joel Santiago Senior Relationship Manager 94312 0 322651 0 38289 0 3070 0 21821 0 480143 0 0 Brian Constable VP, Enterprise Banking 214160 0 47135 0 0 0 7999 0 28631 0 297925 0 0 Gilbert Walden Senior Relationship Manager 120000 0 127116 0 2683 0 7601 0 32765 0 290165 0 0 James Babbage Director of Commercial Banking 137413 0 94053 0 0 0 7053 0 26571 0 265090 0 0 Heath Burke VP Information Technology 168456 0 36798 0 0 0 5098 0 30396 0 240748 0 0 Schedule J, Part I, Line 1a Adelfi Credit Union has travel policies and procedures for employees and Board of Directors. Schedule J, Part I, Line 3 The Compensation Committee meets at least annually to identify the CEO's performance, objectives and related short-term incentive targets. Periodically industry-specific surveys are reviewed and other sources are secured to determine appropriate compensation levels. The Board of Directors reviews the Compensation Committee's recommendations of the CEO's total cash compensation and targets and makes a final determination. Salary grades for all positions, including other officers, are determined after consulting with external independent firms that provide comparability data. Schedule J, Part I, Line 4 The following individual received a severance payment in 2022: Joel Santiago ($35,670). Employment with Adelfi Credit Union ceased on 11/29/2022. The Credit Union sold the campus buildings and the corresponding lease agreements. 2022-12-15 80000000 The Credit Union used the comparable market price to determine the fair market value. 471432794 HPA Growth Fund 915 W Imperial Highway Suite 165 Brea CA 92821 531120 0 0 0 0 Form 990, Part VI, Section A, Line 2 J. Guttau and R. Anderson serve on the Adelfi Credit Union board of directors. They are also principals in Sprocket Financial, LLC (a FinTech startup business). Form 990, Part VI, Section A, Line 6 Adelfi Credit Union is a state chartered credit union (not-for-profit cooperative) with members who qualify under field of membership criteria. Form 990, Part VI, Section A, Line 7a The Credit Union members elect the Board of Directors. Form 990, Part VI, Section B, Line 11b A draft of the Form 990 is reviewed by the Credit Union's VP of Accounting, CFO, and Supervisory Committee; updates are made to the draft from their comments. Then copies of the Form 990 are sent to the full Board of Directors so they have the opportunity to provide comments and questions prior to filing. Form 990, Part VI, Section B, Line 12c All employees, Board of Director members and Supervisory Committee members are required to read and sign the conflict of interest policy and acknowledgment. Once an employee, Board of Director member, or Supervisory Committee member becomes aware of a conflict, he/she must disclose the conflict. Annually, the Board and the CEO must disclose conflicts of interest. Form 990, Part VI, Section B, Line 15 The Compensation Committee meets at least annually to identify the CEO's performance, objectives and related short-term incentive targets. Periodically industry-specific surveys are reviewed and other sources are secured to determine appropriate compensation levels. The Board of Directors reviews the Compensation Committee's recommendations of the CEO's total cash compensation and targets and makes a final determination. Salary grades for all positions, including other officers, are determined after consulting with external independent firms that provide comparability data. Form 990, Part VI, Section C, Line 19 Governing documents and the conflict of interest policy are not available to the general public. Unaudited quarterly financials are available on the company website as well as annual financials derived from the audited statements. Audited financial statements are available upon request.