Nonprofit · EIN 38-1250516
CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN
Also known as 222 LAKE TRUST CREDIT UNION
Tax-exempt · BRIGHTON, MI 48114
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $146,404,003 | $135,151,985 | $11,252,018 | $2,640,189,205 | $2,402,726,674 | $237,462,531 |
| December 31, 2023 | 990 | $121,931,528 | $111,804,935 | $10,126,593 | $2,596,794,878 | $2,377,179,029 | $219,615,849 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $1,894,661
- of which government grants
- $1,894,661
- Program service revenue
- $128,440,585
- Investment income
- $13,489,709
- Royalties
- $69,042
- Net rental income
- -$17,796
- Net gain from sales of assets
- -$132,370
- Other revenue
- $2,579,048
Expenses
- Grants and similar amounts paid
- $348,848
- Compensation of officers, directors and key employees
- $2,103,460
- Other salaries and wages
- $33,593,787
- Salaries, compensation and benefits (total)
- $46,036,402
- Professional fundraising fees
- $0
- Legal fees
- $272,055
- Accounting fees
- $166,200
- Occupancy
- $6,356,856
- Travel
- $707,798
- Depreciation
- $3,546,514
Balance sheet and other
- Total assets, start of year
- $2,596,794,878
- Total assets, end of year
- $2,640,189,205
- Total liabilities, end of year
- $2,402,726,674
- Net assets, end of year
- $237,462,531
- Land, buildings and equipment
- $64,468,387
- Gross unrelated business income
- $367,681
- Gross receipts
- $146,581,407
- Employees
- 561
- Volunteers
- 12
- Year formed
- 1943
- State of legal domicile
- MI
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| DAVID SNODGRASS | CEO AND PRESIDENT Officer | 40 | $1,002,892 | $389,342 |
| KARA STUEWE | EVP CHIEF FINANCIAL OFFICER Officer | 40 | $316,280 | $39,333 |
| RAZI QADRI | EVP CHIEF INFO & OPS OFFICER Highest-paid employee | 40 | $286,522 | $36,745 |
| KRASSIMIR KASSBOV | EVP CHIEF STRATEGY OFFICER Highest-paid employee | 40 | $296,649 | $20,538 |
| OMARI BOONE | EVP GENERAL COUNSEL CRO Officer | 40 | $266,569 | $40,356 |
| THERESA DUBIEL | EVP CHIEF MEMBER EXPERIENCE OFFICER Highest-paid employee | 40 | $271,158 | $22,046 |
| DAVID MORGAN | EVP CHIEF LENDING OFFICER Highest-paid employee | 40 | $250,325 | $35,675 |
| BRANDALYNN WINCHESTER-MIDDLEBROOK | EVP CHIEF PEOPLE & PURPOSE OFFICER Highest-paid employee | 40 | $252,042 | $22,318 |
| AARON SEYBERT | DIRECTOR Trustee or director | 4 | $11,633 | $0 |
| KATHRYN RUSAK | SECRETARY Trustee or director, Officer | 5 | $11,193 | $0 |
| JAMIE SCHRINER | DIRECTOR Trustee or director | 4 | $7,464 | $0 |
| SHANE LOVELLETTE | DIRECTOR Trustee or director | 4 | $5,333 | $0 |
| MONICA MARTINEZ | DIRECTOR Trustee or director | 4 | $3,980 | $0 |
| PHILIP SANTER | DIRECTOR Trustee or director | 4 | $3,810 | $0 |
| DENNIS TOCHMAN | DIRECTOR Trustee or director | 4 | $1,890 | $0 |
5 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JAMES BARNES | DIRECTOR Trustee or director | 4 | $1,596 |
| MICHAEL SOLO | CHAIRPERSON Trustee or director, Officer | 10 | $1,115 |
| RICK LABER | DIRECTOR Trustee or director | 4 | $675 |
| RAY SEIDL | TREASURER Trustee or director, Officer | 10 | $0 |
| JULIE BONNER-HEINE | VICE CHAIRPERSON Trustee or director, Officer | 4 | $0 |
990 for the year ended December 31, 2023: 21 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| DAVID SNODGRASS | CEO AND PRESIDENT Officer | 40 | $963,485 | $356,617 |
| KARA STUEWE | EVP, CHIEF FINANCIAL OFFICER Officer | 40 | $287,850 | $36,781 |
| RAYNOR ZILLGITT | SVP, GENERAL COUNSEL EMERITUS Highest-paid employee | 40 | $263,358 | $31,806 |
| OMARI BOONE | EVP GENERAL COUNSEL CRO Officer | 40 | $247,964 | $34,639 |
| JAMES SARVER | SVP, FINANCIAL LIFE PLANNING Highest-paid employee | 40 | $225,229 | $28,804 |
| BRANDALYNN WINCHESTER-MIDDLEBROOK | EVP, CHIEF PEOPLE & PURPOSE OFFICER Highest-paid employee | 40 | $227,590 | $20,966 |
| THERESA DUBIEL | EVP, CHIEF MEMBER EXPERIENCE OFFICER Highest-paid employee | 40 | $227,774 | $19,779 |
| SANDRA RADTKE | COMMERCIAL SOLUTIONS OFFICER II Highest-paid employee | 40 | $213,419 | $16,482 |
| ANDREA MOSHER - PART YEAR | EVP, CHIEF LENDING OFFICER Officer | 40 | $102,890 | $12,711 |
| KATHRYN RUSAK | SECRETARY Trustee or director, Officer | 5 | $15,470 | $0 |
| DENNIS TOCHMAN | DIRECTOR Trustee or director | 4 | $7,008 | $0 |
| SHANE LOVELLETTE | DIRECTOR Trustee or director | 4 | $5,242 | $0 |
| JULIE BONNER-HEINE | ASSISTANT SECRETARY Trustee or director, Officer | 4 | $4,881 | $0 |
| JAMIE SCHRINER | DIRECTOR Trustee or director | 4 | $4,505 | $0 |
| RICK LABER | CHAIRPERSON Trustee or director, Officer | 10 | $3,875 | $0 |
| MICHAEL SOLO | VICE CHAIRPERSON Trustee or director, Officer | 4 | $3,640 | $0 |
| RAY SEIDL | TREASURER Trustee or director, Officer | 10 | $3,595 | $0 |
| AARON SEYBERT | DIRECTOR Trustee or director | 4 | $2,650 | $0 |
| PHILIP SANTER | DIRECTOR Trustee or director | 4 | $2,613 | $0 |
| JAMES BARNES | DIRECTOR Trustee or director | 4 | $0 | $0 |
| MONICA MARTINEZ | DIRECTOR Trustee or director | 4 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 4605 S OLD US HIGHWAY 23, BRIGHTON, MI 48114-7521
- In care of
- % RENEE THOMPSON
- Principal officer (990 for 2024)
- DAVID SNODGRASS, 4605 S OLD US HIGHWAY 23, BRIGHTON, MI 48114
- Signed the 990
- DAVID SNODGRASS, PRESIDENT & CEO
- Phone
- (888) 267-7200
- Website
- WWW.LAKETRUST.ORG
- Return prepared by
- PLANTE & MORAN PLLC
Mission
MEMBERS WILL UNDERSTAND AND EXPERIENCE THE BENEFITS OF A CREDIT UNION RELATIONSHIP AT A COST JUSTIFIED BY THE RESULTS. MEMBERS HAVE THE CAPABILITY TO EXERCISE CONTROL OVER THEIR FINANCIAL LIVES WHILE SHARING IN THE SUCCESS OF THE ORGANIZATION. (CONT'D ON SCH. O)MEMBERS EXPERIENCE REWARDS OF A MUTUALLY BENEFICIAL RELATIONSHIP BASED ON ADVOCACY AND TRUST RESULTING IN TRUST AND LOYALTY. MEMBERS VALUE THE LINK BETWEEN THEIR BENEFITS AND THEIR OWNERSHIP.
Program accomplishments
- PROMOTED THRIFT TO 180,188 MEMBERS BY OFFERING LOANS, DEPOSITS, AND OTHER FINANCIAL PRODUCTS.
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 38-1250516
- Tax-exempt status
- 501(c)(14): State-chartered credit union
- Donations deductible
- No
- Exempt since
- 1956
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Group exemption
- 1359: CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN
- Assets (IRS master file)
- $2,640,189,205
- Income (IRS master file)
- $146,581,407
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $146,404,003 | $135,151,985 | $2,640,189,205 | XML |
| 990 | December 2023 | $121,931,528 | $111,804,935 | $2,596,794,878 | XML |
| 990 | December 2022 | $102,003,770 | $89,545,899 | $2,583,730,909 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 38-1250516).
Questions about CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN
- What is the EIN of CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN?
- The employer identification number (EIN) of CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN is 38-1250516.
- Is CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(14) since 1956.
- Are donations to CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN?
- The 990 for the year ended December 31, 2024 names DAVID SNODGRASS.
- Who are the officers and directors of CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN?
- The 990 for the year ended December 31, 2024 lists 20 people; 18 received compensation from the organization, the highest $1,002,892 (DAVID SNODGRASS, CEO AND PRESIDENT).
- How much revenue does CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $146,404,003, expenses of $135,151,985 and total assets of $2,640,189,205 at year end.
Other nonprofits in BRIGHTON
- MICHIGAN HEALTH ENDOWMENT FUND EIN 46-5054207 · last filed 990 for 2024
- WORK SKILLS CORPORATION EIN 38-2025701 · last filed 990 for 2025
- PERSONALIZED NURSING LIGHT HOUSE INC EIN 38-2942874 · last filed 990 for 2025
- LAKELANDS GOLF AND COUNTRY CLUB EIN 38-0741360 · last filed 990 for 2026
- SAGE FOUNDATION EIN 38-6041518 · last filed 990-PF for 2025
- NATIONAL TRAILER DEALERS ASSOCIATION EIN 36-3751099 · last filed 990 for 2025
- 1663 FAMILY FOUNDATION EIN 33-2253681 · last filed 990-PF for 2024
- LIVINSTON CHRISTIAN SCHOOLS EIN 56-2545619 · last filed 990 for 2025