Civic Intelligence

Coasthills Credit Union

990 • Fiscal year 2014 • EIN 95-2015359

Jul 29, 2014 to Dec 31, 2014 • Filed on Nov 19, 2015

3880 Constellation RoadLompoc, CA 93436

(805) 733-7640

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

77th percentile

0.91x

Higher debt load relative to assets than 77% of similar nonprofits.

2014 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2014

Liabilities / Revenue

99th percentile

33.81x

Higher debt load relative to revenue than 99% of similar nonprofits.

2014 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2014

Net Margin

76th percentile

20%

Higher net margin than 76% of similar nonprofits.

2014 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2014

Top Officer Pay

87th percentile

$680,174

Higher top officer pay than 87% of similar nonprofits.

Top officer pay equals 3.2% of source-year revenue.

2014 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2014

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Assets

$789,538,843

No earlier filing loaded for comparison.

Net Assets

$71,113,336

No earlier filing loaded for comparison.

Liabilities

$718,425,507

No earlier filing loaded for comparison.

Revenue

$21,248,209

No earlier filing loaded for comparison.

Expenses

$16,926,053

No earlier filing loaded for comparison.

Net Income

$4,322,156

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$2.0B$1.5B$1.0B$500M$0Assets 2014: $789,538,843Liabilities 2014: $718,425,507Net Assets 2014: $71,113,3362014Assets 2015: $914,349,587Liabilities 2015: $833,890,927Net Assets 2015: $80,458,6602015Assets 2016: $1,005,294,341Liabilities 2016: $915,150,109Net Assets 2016: $90,144,2322016Assets 2017: $1,083,097,348Liabilities 2017: $984,818,896Net Assets 2017: $98,278,4522017Assets 2018: $1,158,529,417Liabilities 2018: $1,055,022,914Net Assets 2018: $103,506,5032018Assets 2019: $1,201,163,128Liabilities 2019: $1,090,006,490Net Assets 2019: $111,156,6382019Assets 2020: $1,370,734,730Liabilities 2020: $1,251,547,470Net Assets 2020: $119,187,2602020Assets 2021: $1,604,476,418Liabilities 2021: $1,477,601,475Net Assets 2021: $126,874,9432021Assets 2022: $1,828,708,068Liabilities 2022: $1,700,920,334Net Assets 2022: $127,787,7342022Assets 2023: $1,783,506,274Liabilities 2023: $1,652,452,034Net Assets 2023: $131,054,2402023Assets 2024: $0Liabilities 2024: $0Net Assets 2024: $02024

Highlighted filing

2014

Assets$789,538,843
Liabilities$718,425,507
Net Assets$71,113,336

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$100M$50M$0-$50MRevenue 2014: $21,248,209Expenses 2014: $16,926,053Net Income 2014: $4,322,1562014Revenue 2015: $48,774,369Expenses 2015: $39,516,416Net Income 2015: $9,257,9532015Revenue 2016: $51,590,908Expenses 2016: $42,003,936Net Income 2016: $9,586,9722016Revenue 2017: $55,866,120Expenses 2017: $47,626,891Net Income 2017: $8,239,2292017Revenue 2018: $61,580,785Expenses 2018: $56,386,963Net Income 2018: $5,193,8222018Revenue 2019: $66,242,157Expenses 2019: $58,699,349Net Income 2019: $7,542,8082019Revenue 2020: $65,719,111Expenses 2020: $58,703,237Net Income 2020: $7,015,8742020Revenue 2021: $68,814,131Expenses 2021: $59,373,912Net Income 2021: $9,440,2192021Revenue 2022: $76,854,403Expenses 2022: $70,014,183Net Income 2022: $6,840,2202022Revenue 2023: $95,869,457Expenses 2023: $91,804,133Net Income 2023: $4,065,3242023Revenue 2024: $4,821,474Expenses 2024: $5,045,642Net Income 2024: -$224,1682024

Highlighted filing

2014

Revenue$21,248,209
Expenses$16,926,053
Net Income$4,322,156
Jump To
Filing Snapshot
Filing Period
Jul 29, 2014 to Dec 31, 2014
Signed
Nov 19, 2015
Return Version
2014v5.0
Gross Receipts
$21,579,844
Mission and Program Overview

Mission

We see each day as an opportunity to serve our communities and make a difference in our neighbors' lives. Yes, that means making affordable car loans and helping people save money, but it's more than that. You'll see us out in the community, sleeves rolled up, getting things done. Lending our time, effort and financial support to the central coast is what we do. And we love it.

It is the mission of coasthills credit union to serve members with financial products and superior customer service to help them acheive their financial goals.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$653,803,800$714,276,976▲ $60,473,176
Rtn Earn Endowment Incm Other Fnds$66,728,223$71,113,336▲ $4,385,113
Savings and Temporary Cash Investments$56,100,595$35,292,734▼ $20,807,861
Land, Buildings, and Equipment, Net$13,975,824$13,672,421▼ $303,403
Investments Other Securities$4,167,626$4,404,681▲ $237,055
Receivables From Officers Etc$3,075,396$4,160,307▲ $1,084,911
Cash and Non-Interest-Bearing Accounts$3,214,131$3,764,428▲ $550,297
Accounts Receivable$201,060$3,123,007▲ $2,921,947
Prepaid Expenses and Deferred Charges$1,679,867$1,238,840▼ $441,027
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$743,559,642$789,538,843▲ $45,979,201
Other Assets Total$7,341,343$9,605,449▲ $2,264,106
Liabilities
Other Liabilities$630,598,427$643,215,490▲ $12,617,063
Accounts Payable and Accrued Expenses$46,232,992$75,210,017▲ $28,977,025
Total Liabilities$676,831,419$718,425,507▲ $41,594,088
Net Assets / Fund Balance
Total Net Assets Fund Balance$66,728,223$71,113,336▲ $4,385,113
Total Liabilities and Net Assets / Fund Balance$743,559,642$789,538,843▲ $45,979,201

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$7,194,317$7,291,172$14,485,489
Equipment$1,690,347$9,643,670$11,334,017
Land$4,245,400-$4,245,400
Leasehold Improvements$542,357$770,095$1,312,452
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jeffrey C YorkCEO/presidentFT$366,619$313,555$680,174
Bruce a AltheideVP Wealth ManagementFT$33,743$304,214$337,957
David J UphamEvp/COOFT$202,320$50,609$252,929
Marty L ChathamSVP/CFOFT$200,720$41,369$242,089
Jose SevaSVP Information TechnologyFT$170,331$37,283$207,614
Dallas E Widick JrVP LendingFT$152,398$31,763$184,161
Lisa Nissinen-harlowSVP Human ResourcesFT$150,304$32,147$182,451
Scott D CoeSVP MarketingFT$138,197$30,228$168,425
Robert CovarrubiasAvp Business LendingFT$119,496$30,792$150,288
Joseph MayhewAvp Consumer LendingFT$128,147$18,848$146,995
Kimberly ChambersAvp MortgageFT$119,232$18,487$137,719
Linda Jarret OlivarAvp Internal AuditFT$117,963$13,318$131,281
Jaime Marks-rodriguezAvp South RegionFT$104,242$14,043$118,285
William H Anders2nd Vice Chairman-$1,637-$1,637
Kristopher L AndrewsDirector-$1,416-$1,416
David M RichardsonDirector-$1,291-$1,291
Roger C WeltDirector-$1,262-$1,262
Arthur C Sheithauer JrTreasurer-$1,096-$1,096
Ricardo Velasco1st Vice Chairman-$683-$683
Hugh J RaffertyChairman-$600-$600
Richard B CogginDirector-$600-$600

Board Members and Trustees

NameTitle
Shirleen SladekSecretary of the Board

Highest Paid Contractors

ContractorServicesLocationCompensation
Jack Henry IncorporatedData Processing Software And Equipment330 N GERALD LETT AVE, Angola, IN 46703$674,254
Diebold IncorporatedAtm Servicing & Security Equipment5995 MAYFAIR ROAD, North Canton, OH 44720$388,253
Lending Solutions IncorporatedCall Center Overflow2200 POINT BOULEVARD, Elgin, IL 60123$379,320
Subcat IncorporatedMarketing271 IMPERIAL HIGHWAY 641, Fullerton, CA 92835$295,431
Meridian Link IncorporatedLoan Origination Software1600 SUNFLOWER AVE, Costa Mesa, CA 92626$222,856
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$20,829,042
Investment Income
$419,167
Other Revenue
$0
Change in Net Assets
$4,322,156
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$9,852,190
Salaries, Compensation, and Employee Benefits$7,073,863
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$3,777,266
Interest---$2,121,579
Occupancy---$1,534,359
Other Employee Benefits---$1,313,895
Current Officers, Directors, Trustees, and Key Employees---$1,229,475
Office Expenses---$681,107
Depreciation Depletion---$631,009
All Other Expenses---$534,607
Other Expenses---$478,700
Advertising---$417,177
Pension Plan Contributions---$383,035
Payroll Taxes---$370,192
Travel---$233,383
Fees for Services Management---$224,125
Fees for Services Accounting---$129,929
Fees for Services Legal---$29,258
Total Functional Expenses$0$0$0$16,926,053
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
Yes
Subject to proxy tax
No

Reported Spending and Taxes

Line ItemAmount
Political Expenditures$5,787
Total Exempt Function Spending$5,787

Section 527 Organizations

OrganizationLocationAmount
94-0357265Ontario, CA$5,787
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees$3,075,396$4,160,307▲ $1,084,911
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Clearing and Member Accts$643,215,490
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

The credit union has members

Form 990, Part VI, Section A, Line 7A

All regular account holders are required to have exactly one $5.00 par value basic share which confers voting rights in the annual elections for the board of directors and supervisory committee.

Form 990, Part VI, Section A, Line 7B

Credit union members voted to approve a conversion from federally chartered status to state chartered status during 2014.

Form 990, Part VI, Section B, Line 11

The return is available for members of the board and the supervisory committee to review.

Form 990, Part VI, Section B, Line 12C

Loans to officers, directors, and key employees are reported quarterly to the ncua and aggregated by social security number.

Form 990, Part VI, Section B, Line 15

Coasthills credit union uses market data balancecomp along with data from cues to help set ceo compensation. Coasthills board of directors commissioned d. Hilton associates to conduct a separate study of ceo compensation. After discussions with balancecomp and d. Hilton associates, the board of directors makes a decision where to set ceo compensation based upon both performance and market factors. These decisions are recorded in the board executive committee minutes and confirmed by the entire board executive committee. For other officers and key employees, coasthills credit union uses a compensation matrix provided by balancecomp that incorporates market data.

Form 990, Part VI, Section C, Line 19

Copies of monthly financial statements are kept in each of our 11 branch locations and are available on request.

Filing and Contact Details

Filer

Filer Name
Coasthills Credit Union
EIN
95-2015359
Phone
8057337640
Address
3880 CONSTELLATION ROAD, LOMPOC, CA 93436

Signing Officer

Name
Marty Chatham
Title
CFO/SVP
Phone
8057337640
Signed
2015-11-19
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jeffrey C York
Formed
1958
Legal Domicile
CA
Voting Board Members
9
Independent Board Members
9
Employees
240
Volunteers
14

Preparer

Firm
Cliftonlarsonallen Llp
Address
20 E THOMAS RD STE 2300, PHOENIX, AZ 85012
Preparer
Janis Isaacson
Phone
6022662248
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

The supervisory committee assumes responsibility for the oversight of the audited financial statements. There has been no change in either the oversight process or the selection process.

Additional Information

Prior to july 29, 2014, coasthills credit union was organized as a federally-chartered credit union under irc section 501(c)(1) and operated as coasthills federal credit union. A federally-chartered credit union is an instrumentality of the us government and is not required to file form 990. Effective july 29, 2014, the organization converted to a state charter. As a result, this is an initial return.

Financial Statement Notes

PART X, LINE 2:

The credit union evaluated its tax positions and determined no uncertain positions exist as of december 31, 2014 and 2013.

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IRS990/Form990PartVIISectionAGrp/PersonNm2WILLIAM H ANDERS
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IRS990/Form990PartVIISectionAGrp/TitleTxt3TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt4SECRETARY OF THE BOARD
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IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt10SVP/CFO
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IRS990/Form990PartVIISectionAGrp/TitleTxt13SVP MARKETING
IRS990/Form990PartVIISectionAGrp/TitleTxt14SVP HUMAN RESOURCES
IRS990/Form990PartVIISectionAGrp/TitleTxt15SVP INFORMATION TECHNOLOGY
IRS990/Form990PartVIISectionAGrp/TitleTxt16VP WEALTH MANAGEMENT
IRS990/Form990PartVIISectionAGrp/TitleTxt17AVP BUSINESS LENDING
IRS990/Form990PartVIISectionAGrp/TitleTxt18AVP INTERNAL AUDIT
IRS990/Form990PartVIISectionAGrp/TitleTxt19AVP MORTGAGE
IRS990/Form990PartVIISectionAGrp/TitleTxt20AVP SOUTH REGION
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IRS990/GrantsToOrganizationsInd00
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IRS990/MissionDesc0WE SEE EACH DAY AS AN OPPORTUNITY TO SERVE OUR COMMUNITIES AND MAKE A DIFFERENCE IN OUR NEIGHBORS' LIVES. YES, THAT MEANS MAKING AFFORDABLE CAR LOANS AND HELPING PEOPLE SAVE MONEY, BUT IT'S MORE THAN THAT. YOU'LL SEE US OUT IN THE COMMUNITY, SLEEVES ROLLED UP, GETTING THINGS DONE. LENDING OUR TIME, EFFORT AND FINANCIAL SUPPORT TO THE CENTRAL COAST IS WHAT WE DO. AND WE LOVE IT.
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IRS990ScheduleC/Section527PoliticalOrgGrp/USAddress/ZIPCd091761
IRS990ScheduleC/SupplementalInformationDetail/ExplanationTxt0CONTRIBUTIONS TO A POLITICAL ORGANIZATION.
IRS990ScheduleC/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I-A, LINE 1:
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IRS990ScheduleD/BuildingsGrp/BookValueAmt07194317
IRS990ScheduleD/BuildingsGrp/DepreciationAmt07291172
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt014485489
IRS990ScheduleD/EquipmentGrp/BookValueAmt01690347
IRS990ScheduleD/EquipmentGrp/DepreciationAmt09643670

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