2023-11-10T17:05:43-06:00 2022-12-31 840919886 JONES MERTSCHING CPAS PC 32186 CASTLE COURT SUITE 220 EVERGREEN CO 80439 990 2022-01-01 840808889 RED ROCKS CREDIT UNION REDR 3034717625 8195 SOUTH PARK LANE LITTLETON CO 80120 BETSY GUERRERO CFO 3034717625 2023-11-10 1 BETSY GUERRERO 999009999 0 ERIC L JONES CPA P00634170 3034809090 2023-11-10 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z DARIUS WISE 8195 SOUTH PARK LANE LITTLETON CO 80120 16547965 0 X WWW.REDROCKS.ORG X 1979 CO TO ENCOURAGE, ENABLE AND UNDERWRITE THE HOPES, DREAMS, AND ASPIRATIONS OF OUR MEMBERS TO HAVE MAXIMUM IMPACT. 8 7 0 12 54819 0 0 0 13986210 15878132 627751 602400 -507062 67433 14106899 16547965 158865 99818 0 0 5976509 5601861 0 0 0 8680967 10494198 14816341 16195877 -709442 352088 358530092 346576542 326683278 316713989 31846814 29862553 TO ENCOURAGE, ENABLE AND UNDERWRITE THE HOPES, DREAMS, AND ASPIRATIONS OF OUR MEMBERS TO HAVE MAXIMUM IMPACT. 0 0 16195877 99818 THE CREDIT UNION IS OWNED BY APPROXIMATELY 17,000 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. 16195877 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 0 0 0 0 0 0 0 0 0 0 1 0 0 1 2800 0 0 1 1 0 0 0 0 0 0 0 0 0 X 8 7 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X BETSY GUERRERO RED ROCKS CU CFO 3034717625 8195 SOUTH PARK LANE LITTLETON CO 80120 JOE MASSAQUOI DIRECTOR 2.00 X 0 0 0 TIFFANY WATTS SECRETARY 2.00 X 0 0 0 CESAR AMICARELLA VICE CHAIR 2.00 X 0 0 0 AGNES AUDEBERT DIRECTOR 2.00 X 0 0 0 JULIE MENSING TREASURER 2.00 X 0 0 0 ANDREA PRICE-VALENZUELA DIRECTOR 2.00 X 0 0 0 JOERI CARTY CHAIRPERSON 4.00 X 0 0 0 DAVID BROOKS INTERIM CEO 40.00 X 124115 0 798 DARIUS WISE PRESIDENT/INTERIM CEO 40.00 X 415250 0 30630 ELIZABETH GUERRERO CFO 40.00 X 342333 0 29106 RODERICK WASHINGTON SENIOR VP 40.00 X 126716 0 15141 HELEN GIBSON SENIOR VP 40.00 X 58612 0 7364 CHRISTINA MAUL VP RISK MANAGEMENT 40.00 X 150695 0 17581 AMBER MUHAMMAD VP, HR 40.00 X 186094 0 12737 JEREMEY COUCH MORTGAGE LOAN OFFICER 40.00 X 103151 0 12084 JILL HEPP VP LENDING 40.00 X 149955 0 19228 KATHRYN SHUT VP OF DATA ENABLEMENT 40.00 X 102036 0 10549 BENJAMIN CORNELLA IT MANAGER 40.00 X 102271 0 7578 CATHERINE CAPILUPI DIRECTOR OF SALES AND SERVICE 40.00 X 120992 0 12934 PATRICK T AHERN FORMER CEO 0.00 X 295000 0 0 2277220 0 175730 12 1 1 0 0 INTEREST MEMBER LOANS 522100 14232134 14232134 FEES MEMBER SERVICE 522100 830920 830920 VISA CHECK CARD INCOME 522100 593752 593752 OTHER OPERATING INCOME 522100 214915 214915 INCOME SALE OF MORTGAGES 522100 6411 6411 15878132 602400 602400 AUTO WARRANTY INCOME 522100 48108 48108 DISPOSAL GAIN 522100 12614 12614 FORIGN ATM FEES 522100 6711 6711 67433 16547965 15878132 54819 615014 99818 1798939 3125105 66244 239551 372022 108424 561329 1053839 318110 613916 164758 406291 1034503 LOAN SERVICING EXPENSE 2004257 DIVIDENDS & INTEREST -M 1526758 PROVISION FOR LOAN LOSS 1274151 OFFICE OPERATIONS EXPEN 1102740 325122 16195877 28649634 13425811 9756856 2564306 3660173 1260904 269792890 291045325 471751 458244 19657687 6780514 13148474 12877173 25929137 18313621 3448831 2916830 3672346 3714328 358530092 346576542 3122040 3065907 25000000 323561238 288648082 326683278 316713989 X 0 0 0 0 31846814 29862553 31846814 29862553 358530092 346576542 352088 -2336349 0 X 0 1 X 1 0 1 0 1092229 1092229 12909366 3041947 9867419 5656092 3738567 1917525 12877173 MEMBER SHARES, DEPOSITS AND CERTIFICATES 288648082 288648082 X 16213655 0 16213655 334310 334310 16547965 15861567 0 15861567 334310 334310 16195877 PART IV, LINE 1B: IN PRIOR YEARS, THE CREDIT UNION SOLD 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, BUT THE CREDIT UNION CONTINUES TO SERVICE THESE LOANS. PART X, LINE 2: M. INCOME TAX STATUS: THE CREDIT UNION IS EXEMPT FROM FEDERAL AND STATE INCOME TAX. THE CREDIT UNION'S ACCOUNTING POLICY UNDER FASB ACS 740-10 ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES IS TO RECOGNIZE IN ITS FINANCIAL STATEMENTS ONLY THOSE TAX BENEFITS (REPORTED OR TO BE REPORTED IN ITS TAX RETURNS) WHEN IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY THE RELEVANT TAXING AUTHORITY. MANAGEMENT CURRENTLY BELIEVES THAT IT IS MORE LIKELY THAN NOT THAT ALL OF ITS SIGNIFICANT TAX POSITIONS, INCLUDED POSITIONS RELATED TO THE UNRELATED BUSINESS INCOME TAX (UBIT) WOULD BE SUSTAINED ON EXAMINATION BY RELEVANT TAXING AUTHORITIES. ADDITIONALLY, NO INTEREST AND PENALTIES HAVE BEEN RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS RELATED TO UNCERTAIN TAX POSITIONS. CURRENTLY, THE 2019, 2020 AND 2021 FEDERAL INCOME TAX RETURNS ARE OPEN FOR EXAMINATION BY THE IRS. PART XI, LINE 4B - OTHER ADJUSTMENTS: ATM PROCESSING FEES PART XII, LINE 4B - OTHER ADJUSTMENTS: ATM PROCESSING FEES 1 BOULDER COUNTY WILDFIRE FUND 1123 SPRUCE STREET BOULDER CO 803024001 841171836 501(C)(3) 20000 0 DONATION TO RELIEF FOR MARSHALL WILDFIRES MADE TO IMPACT FOUNDATION 8195 SOUTHPARK LN LITTLETON CO 80120 872019060 501(C)(3) 79818 0 COST RELIEF FOR OPERATING EXPENSES REALTED TO MADE TO IMPACT FOUNDATION 2 PART I, LINE 2: GRANTS IN 2022 WERE MADE TO: 1. MADE TO IMPACT FOUNDATION WHERE CERTAIN OFFICERS AND BOARD MEMBERS OF THE CREDIT UNION ARE BOARD MEMBERS OF THE FOUNDATION. 2. BOULDER COUNTY WILDFIRE FUND FOR SPECIFC RELIEF, BUT THERE WAS NO MORITORING OF THE USE OF THIS GRANT. X X X X X 1 0 0 DARIUS WISE PRESIDENT/INTERIM CEO 290283 0 124801 0 166 0 8820 0 21810 0 445880 0 0 0 ELIZABETH GUERRERO CFO 238080 0 103962 0 291 0 10874 0 18232 0 371439 0 0 0 PATRICK T AHERN FORMER CEO 0 0 0 0 295000 0 0 0 0 0 295000 0 0 0 AMBER MUHAMMAD VP, HR 105350 0 22565 0 58179 0 4692 0 8045 0 198831 0 0 0 JILL HEPP VP LENDING 119542 0 30213 0 200 0 4042 0 15186 0 169183 0 0 0 CHRISTINA MAUL VP RISK MANAGEMENT 119563 0 30907 0 225 0 4914 0 12667 0 168276 0 0 0 PART I, LINE 4A SEVERANCE: AMBER MUHAMMAD - $58,179 PAT AHERN - $295,000 FORM 990, PART VI, SECTION A, LINE 6 LINE 6 EXPLANATION - RED ROCKS FEDERAL CREDIT UNION WAS ESTABLISHED IN 1979 TO SERVE THE EMPLOYEES OF LOCKHEED MARTIN. RED ROCKS' FIELD OF MEMBERSHIP WAS EXPANDED IN 1994 TO SERVE THOSE THAT LIVE, WORK, WORSHIP OR ATTEND SCHOOL IN DOUGLAS COUNTY, COLORADO. AS A RESULT OF A CONVERSION TO A STATE-CHARTERED CREDIT UNION IN AUGUST 2006, THE CREDIT UNION'S NAME CHANGED SLIGHTLY TO RED ROCKS CREDIT UNION. IN 2013, ARAPAHOE AND JEFFERSON COUNTIES, COLORADO WERE ADDED TO THE FIELD OF MEMBERSHIP. IN 2019 THE COMMUNITY IMPACT FUND WAS ADDED TO THE FIELD OF MEMBERSHIP. IN 2022 THE MADE TO IMPACT FOUNDATION WAS ADDED TO THE FIELD OF MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 7A LINE 7A EXPLANATION - THE CREDIT UNION MEMBERS ELECT ON AN ANNUAL BASIS THE MEMBERS OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B LINE 7B EXPLANATION - ANY PROPOSED MERGER MUST BE APPROVED BY THE MAJORITY OF THE MEMBERSHIP. FORM 990, PART VI, SECTION B, LINE 11B LINE 11B EXPLANATION - MANAGEMENT PROVIDES THE REQUIRED INFORMATION TO THE CREDIT UNION'S INDEPENDENT CPA FIRM FOR COMPLETION OF THE FORM 990. THE FORM 990 IN THEN REVIEWED AND APPROVED BY THE CFO BEFORE IT IS FILED. AN ELECTRONIC COPY OF THE COMPLETED FORM 990 IS UPLOADED INTO THE RED ROCKS BOARD PORTAL FOR THEIR REVIEW AT ANY TIME. FORM 990, PART VI, SECTION B, LINE 12C A CONFLICT OF INTEREST DISCLOSURE STATEMENT IS SIGNED, RECEIVED AND FILED FROM EACH BOARD MEMBER ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 THE CEO SETS OTHER OFFICER COMPENSATION. ALL COMPENSATION IS BASED UPON INDUSTRY COMPARISON DATA RECEIVED AND REVIEWED EACH YEAR. THE CEO'S COMPENSATION IS DETERMINED BY THE EXECUTIVE COMMITTEE OF THE BOARD AND AGREED TO BY THE CEO. ALL COMPENSATION IS BASED UPON INDUSTRY COMPARISON DATA RECEIVED AND IS REVIEWED EACH YEAR. FORM 990, PART VI, SECTION C, LINE 19 CPA CERTIFIED FINANCIAL STATEMENTS ARE AVAILABLE ELECTRONICALLY VIA THE CREDIT UNION'S WEBSITE. OTHER DOCUMENTS WOULD REQUIRE A WRITTEN REQUEST AND DETERMINATION REGARDING THE RELEASE OF DATA. FORM 990, PART 1,LINE 5 &PART V, LINE 2A NUMBER OF EMPLOYEES IS REPORTED AS ZERO AS THE CREDIT UNION DOES NOT FILE FORM W-3. ADP TOTAL SOURCE, AS COMMON PAYMASTER, FILES FORM W-3 UNDER THEIR OWN FEIN TO REPORT THE COMPENSATION OF ALL CREDIT UNION EMPLOYEES. MADE TO IMPACT FOUNDATION 8195 SOUTHPARK LANE LITTLETON CO 80120 872019060 TO PROVIDE HARDSHIP GRANTS WITH DIRECT FINANCIAL NEEDS CO 501(C)(3) 170(B)(1)(A)(VI) 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 MADE TO IMPACT FOUNDATION B 79818 CASH