Form990


Department of the TreasuryInternal Revenue Service
Return of Organization Exempt From Income Tax
Under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except private foundations)
Do not enter social security numbers on this form as it may be made public.
Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
2023
Open to Public Inspection
A For the 2023 calendar year, or tax year beginning 01-01-2023 , and ending 12-31-2023
BCheck if applicable:
CName of organization
GreenState Credit Union
 
 
Doing business as
 
 
Number and street (or P.O. box if mail is not delivered to street address)
2355 Landon Road
 
Room/suite
City or town, state or province, country, and ZIP or foreign postal code
North Liberty, IA523170800
D Employer identification number

42-0804594
E Telephone number

G Gross receipts $ 583,187,091
F Name and address of principal officer:
Vic Israni
2355 Landon Road
North Liberty,IA523170800
I
Tax-exempt status: ( 14 ) (insert no.) or
J
Website:
www.greenstate.org
H(a)
Is this a group return for
subordinates?
H(b)
Are all subordinates
included?
If "No," attach a list. See instructions.
H(c)
Group exemption number  
K Form of organization:  
L Year of formation: 1938
M State of legal domicile: IA
Part I
Summary
Activities & Governance 1 Briefly describe the organization’s mission or most significant activities: As the nation's greatest financial institution, we...make profound impact in the lives of our members, empower our employees to create endless opportunities and shape our future, and enhance the vitality of our communities by donating our time, talents, and financial support.
2 Check this box
3 Number of voting members of the governing body (Part VI, line 1a) ........ 3 9
4 Number of independent voting members of the governing body (Part VI, line 1b) ..... 4 9
5 Total number of individuals employed in calendar year 2023 (Part V, line 2a) ...... 5 1,025
6 Total number of volunteers (estimate if necessary) ............. 6 11
7a Total unrelated business revenue from Part VIII, column (C), line 12 ........ 7a 217,348
b Net unrelated business taxable income from Form 990-T, Part I, line 11 ......... 7b 0
Revenues Prior Year Current Year
8 Contributions and grants (Part VIII, line 1h) ......... 0 0
9 Program service revenue (Part VIII, line 2g) ......... 423,087,687 486,320,278
10 Investment income (Part VIII, column (A), lines 3, 4, and 7d ) .... 13,735,708 40,022,155
11 Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e) 62,794,005 51,222,212
12 Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12) 499,617,400 577,564,645
Expenses; 13 Grants and similar amounts paid (Part IX, column (A), lines 1–3 )... 5,560,859 5,184,044
14 Benefits paid to or for members (Part IX, column (A), line 4).....   0
15 Salaries, other compensation, employee benefits (Part IX, column (A), lines 5–10) 111,012,169 108,913,031
16a Professional fundraising fees (Part IX, column (A), line 11e) .....   0
b Total fundraising expenses (Part IX, column (D), line 25) 0    
17 Other expenses (Part IX, column (A), lines 11a–11d, 11f–24e).... 341,339,777 548,138,014
18 Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25) 457,912,805 662,235,089
19 Revenue less expenses. Subtract line 18 from line 12....... 41,704,595 -84,670,444
Net Assets or Fund Balances; Beginning of Current Year End of Year
20 Total assets (Part X, line 16)............. 11,278,583,077 11,331,220,069
21 Total liabilities (Part X, line 26)............. 10,369,107,740 10,545,598,697
22 Net assets or fund balances. Subtract line 21 from line 20..... 909,475,337 785,621,372
Part II
Signature Block
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than officer) is based on all information of which preparer has any knowledge.
Sign Here
Signature of officer Date
Type or print name and title
Paid Preparer Use Only
Print/Type preparer's name
Preparer's signature
Date
PTIN
Firm's name

Firm's EIN
Firm's address



Phone no.
May the IRS discuss this return with the preparer shown above? See Instructions. ..........
For Paperwork Reduction Act Notice, see the separate instructions.
Cat. No. 11282Y Form 990 (2023)
Form 990 (2023)
Page 2
Part III
Statement of Program Service Accomplishments
Check if Schedule O contains a response or note to any line in this Part III..............
1
Briefly describe the organization’s mission: As the nation's greatest financial institution, we...make profound impact in the lives of our members, empower our employees to create endless opportunities and shape our future, and enhance the vitality of our communities by donating our time, talents, and financial support.
2
Did the organization undertake any significant program services during the year which were not listed on
the prior Form 990 or 990-EZ? .....................
If "Yes," describe these new services on Schedule O.
3
Did the organization cease conducting, or make significant changes in how it conducts, any program
services? ...........................
If "Yes," describe these changes on Schedule O.
4
Describe the organization’s program service accomplishments for each of its three largest program services, as measured by expenses. Section 501(c)(3) and 501(c)(4) organizations are required to report the amount of grants and allocations to others, the total expenses, and revenue, if any, for each program service reported.
4a (Code:   ) (Expenses $   including grants of $   ) (Revenue $   )
GreenState Credit Union provides lending services with competative rates. The lending portfolio includes: - Mortgage loans including both first and second mortgages - Consumer loans including primarly auto loans and unsecured personal loans - Commercial Loans including both commercial real-estate and non-real-estate lending In 2023, the credit union originated $405 million of in-house mortgage loans; $1.15 billion of consumer and $202 million of Commercial loans. In addition, originated $1.48 billion in first mortgage loans which were sold on the secondary market.
4b (Code:   ) (Expenses $   including grants of $   ) (Revenue $   )
GreenState also provides opportunities for members to save for future needs in the form of Savings, Money Market, CDs while offering competitive rates on these funds. In 2023, deposits grew from $9.077 billion to $9.208 billion.
4c (Code:   ) (Expenses $   including grants of $   ) (Revenue $   )
GreenState also provides membership with avenues to transact business via channels such as ACH, wire, electronic funds transfer, ETC. In 2023, the credit union processed 69,710,234 Financial transactions for its members.
4d Other program services (Describe in Schedule O.)
(Expenses $   including grants of $   ) (Revenue $   )
4e Total program service expenses0
Form 990 (2023)
Form 990 (2023)
Page 3
Part IV
Checklist of Required Schedules
Yes
No
1
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)? If "Yes," complete Schedule A.....................
1
 
No
2
Is the organization required to complete Schedule B, Schedule of Contributors? See instructions. ...
2
 
No
3
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office? If "Yes," complete Schedule C, Part I.............
3
 
No
4
Section 501(c)(3) organizations. Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year? If "Yes," complete Schedule C, Part II.........
4
 
 
5
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Rev. Proc. 98-19? If "Yes," complete Schedule C, Part III..
5
 
 
6
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts? If "Yes," complete Schedule D, Part I.........................
6
 
No
7
Did the organization receive or hold a conservation easement, including easements to preserve open space,
the environment, historic land areas, or historic structures? If "Yes," complete Schedule D, Part II....
7
 
No
8
Did the organization maintain collections of works of art, historical treasures, or other similar assets? If "Yes,"
complete Schedule D, Part III..............
8
 
No
9
Did the organization report an amount in Part X, line 21 for escrow or custodial account liability; serve as a custodian for amounts not listed in Part X; or provide credit counseling, debt management, credit repair, or debt negotiation services? If "Yes," complete Schedule D, Part IVClick to see attachment
List of Attached Documents:
// Content
..............
9
Yes
 
10
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi endowments? If "Yes," complete Schedule D, Part V......
10
 
No
11
If the organization’s answer to any of the following questions is "Yes," then complete Schedule D, Parts VI, VII, VIII, IX, or X, as applicable.
a
Did the organization report an amount for land, buildings, and equipment in Part X, line 10? If "Yes," complete
Schedule D, Part VI. Click to see attachment
List of Attached Documents:
// Content
...................
11a
Yes
 
b
Did the organization report an amount for investments—other securities in Part X, line 12 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part VII.......
11b
 
No
c
Did the organization report an amount for investments—program related in Part X, line 13 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part VIII.......
11c
 
No
d
Did the organization report an amount for other assets in Part X, line 15 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part IX............
11d
 
No
e
Did the organization report an amount for other liabilities in Part X, line 25? If "Yes," complete Schedule D, Part XClick to see attachment
List of Attached Documents:
// Content
11e
Yes
 
f
Did the organization’s separate or consolidated financial statements for the tax year include a footnote that addresses the organization’s liability for uncertain tax positions under FIN 48 (ASC 740)? If "Yes," complete Schedule D, Part XClick to see attachment
List of Attached Documents:
// Content
11f
Yes
 
12a
Did the organization obtain separate, independent audited financial statements for the tax year? If "Yes," complete
Schedule D, Parts XI and XII......................
12a
 
No
b
Was the organization included in consolidated, independent audited financial statements for the tax year? If "Yes," and if the organization answered "No" to line 12a, then completing Schedule D, Parts XI and XII is optional Click to see attachment
List of Attached Documents:
// Content
12b
Yes
 
13
Is the organization a school described in section 170(b)(1)(A)(ii)? If "Yes," complete Schedule E
13
 
No
14a
Did the organization maintain an office, employees, or agents outside of the United States? .....
14a
 
No
b
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more? If "Yes," complete Schedule F, Parts I and IV.........
14b
 
No
15
Did the organization report on Part IX, column (A), line 3, more than $5,000 of grants or other assistance to or for any foreign organization? If “Yes,” complete Schedule F, Parts II and IV.....
15
 
No
16
Did the organization report on Part IX, column (A), line 3, more than $5,000 of aggregate grants or other assistance to or for foreign individuals? If “Yes,” complete Schedule F, Parts III and IV...
16
 
No
17
Did the organization report a total of more than $15,000 of expenses for professional fundraising services on Part IX, column (A), lines 6 and 11e? If "Yes," complete Schedule G, Part I. See instructions. ....
17
 
No
18
Did the organization report more than $15,000 total of fundraising event gross income and contributions on Part VIII, lines 1c and 8a? If "Yes," complete Schedule G, Part II............
18
 
No
19
Did the organization report more than $15,000 of gross income from gaming activities on Part VIII, line 9a? If "Yes," complete Schedule G, Part III...................
19
 
No
20a
Did the organization operate one or more hospital facilities? If "Yes," complete Schedule H....
20a
 
No
b
If "Yes" to line 20a, did the organization attach a copy of its audited financial statements to this return?
20b
 
 
21
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government on Part IX, column (A), line 1? If “Yes,” complete Schedule I, Parts I and II.....Click to see attachment
List of Attached Documents:
// Content
21
Yes
 
Form 990 (2023)
Form 990 (2023)
Page 4
Part IV
Checklist of Required Schedules (continued)
Yes
No
22
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals on Part IX, column (A), line 2? If “Yes,” complete Schedule I, Parts I and III........
22
 
No
23
Did the organization answer "Yes" to Part VII, Section A, line 3, 4, or 5, about compensation of the organization’s current and former officers, directors, trustees, key employees, and highest compensated employees? If "Yes," complete Schedule J....................... Click to see attachment
List of Attached Documents:
// Content
23
Yes
 
24a
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002? If “Yes,” answer lines 24b through 24d and complete Schedule K. If “No,” go to line 25a...............
24a
 
No
b
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?...
24b
 
 
c
Did the organization maintain an escrow account other than a refunding escrow at any time during the year
to defease any tax-exempt bonds? ...............
24c
 
 
d
Did the organization act as an "on behalf of" issuer for bonds outstanding at any time during the year?...
24d
 
 
25a
Section 501(c)(3), 501(c)(4), and 501(c)(29) organizations. Did the organization engage in an excess benefit transaction with a disqualified person during the year? If "Yes," complete Schedule L, Part I ....
25a
 
 
b
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization’s prior Forms 990 or 990-EZ? If "Yes," complete Schedule L, Part I.......................
25b
 
 
26
Did the organization report any amount on Part X, line 5 or 22 for receivables from or payables to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons? If "Yes," complete Schedule L, Part IIClick to see attachment
List of Attached Documents:
// Content
...........
26
Yes
 
27
Did the organization provide a grant or other assistance to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or employee thereof, a grant selection committee member, or to a 35% controlled entity (including an employee thereof) or family member of any of these persons?
If "Yes," complete
Schedule L, Part III.........................
27
 
No
28
Was the organization a party to a business transaction with one of the following parties (see the Schedule L, Part IV instructions for applicable filing thresholds, conditions, and exceptions):
a
A current or former officer, director, trustee, key employee, creator or founder, or substantial contributor? If "Yes," complete Schedule L, Part IV......................
28a
 
No
b
A family member of any individual described in line 28a? If "Yes," complete Schedule L, Part IV.....
28b
 
No
c
A 35% controlled entity of one or more individuals and/or organizations described in line 28a or 28b? If "Yes," complete Schedule L, Part IV.....................
28c
 
No
29
Did the organization receive more than $25,000 in non-cash contributions? If "Yes," complete Schedule M..
29
 
No
30
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions? If "Yes," complete Schedule M .................
30
 
No
31
Did the organization liquidate, terminate, or dissolve and cease operations? If "Yes," complete Schedule N, Part I
31
 
No
32
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets? If "Yes," complete Schedule N, Part II........................
32
 
No
33
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3? If "Yes," complete Schedule R, Part I............Click to see attachment
List of Attached Documents:
// Content
33
Yes
 
34
Was the organization related to any tax-exempt or taxable entity? If "Yes," complete Schedule R, Part II, III, or IV, and Part V, line 1.........................
34
 
No
35a
Did the organization have a controlled entity within the meaning of section 512(b)(13)?
35a
 
No
b
If ‘Yes’ to line 35a, did the organization receive any payment from or engage in any transaction with a controlled entity within the meaning of section 512(b)(13)? If "Yes," complete Schedule R, Part V, line 2 ...
35b
 
 
36
Section 501(c)(3) organizations. Did the organization make any transfers to an exempt non-charitable related organization? If "Yes," complete Schedule R, Part V, line 2.............
36
 
 
37
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes? If "Yes," complete Schedule R, Part VI
37
 
No
38
Did the organization complete Schedule O and provide explanations on Schedule O for Part VI, lines 11b and 19? Note. All Form 990 filers are required to complete Schedule O. ............
38
Yes
 
Part V
Statements Regarding Other IRS Filings and Tax Compliance
Check if Schedule O contains a response or note to any line in this Part V...........
Yes
No
1a
Enter the number reported in box 3 of Form 1096. Enter -0- if not applicable ..
1a
154,699
b
Enter the number of Forms W-2G included on line 1a. Enter -0- if not applicable .
1b
0
c
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners? ..................
1c
Yes
 
Form 990 (2023)
Form 990 (2023)
Page 5
Part V
Statements Regarding Other IRS Filings and Tax Compliance (continued)
2a
Enter the number of employees reported on Form W-3, Transmittal of Wage and
Tax Statements, filed for the calendar year ending with or within the year covered by this return ..................
2a
1,025
b
If at least one is reported on line 2a, did the organization file all required federal employment tax returns?
2b
Yes
 
3a
Did the organization have unrelated business gross income of $1,000 or more during the year?...
3a
Yes
 
b
If “Yes,” has it filed a Form 990-T for this year? If “No” to line 3b, provide an explanation in Schedule O...
3b
Yes
 
4a
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)? ..
4a
 
No
b
If "Yes," enter the name of the foreign country:
See instructions for filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR).
5a
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year? ..
5a
 
No
b
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?
5b
 
No
c
If "Yes," to line 5a or 5b, did the organization file Form 8886-T? ............
5c
 
 
6a
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions? ...
6a
 
No
b
If "Yes," did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible? ......................
6b
 
 
7
Organizations that may receive deductible contributions under section 170(c).
a
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor? ....................
7a
 
 
b
If "Yes," did the organization notify the donor of the value of the goods or services provided? .....
7b
 
 
c
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282? .........................
7c
 
 
d
If "Yes," indicate the number of Forms 8282 filed during the year ....
7d
 
e
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?
7e
 
 
f
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ..
7f
 
 
g
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required? ......................
7g
 
 
h
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C? ..........................
7h
 
 
8
Sponsoring organizations maintaining donor advised funds. Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year? ........
8
 
 
9
Sponsoring organizations maintaining donor advised funds.
a
Did the sponsoring organization make any taxable distributions under section 4966?........
9a
 
 
b
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?...
9b
 
 
10
Section 501(c)(7) organizations. Enter:
a
Initiation fees and capital contributions included on Part VIII, line 12 ...
10a
 
b
Gross receipts, included on Form 990, Part VIII, line 12, for public use of club facilities
10b
 
11
Section 501(c)(12) organizations. Enter:
a
Gross income from members or shareholders .........
11a
 
b
Gross income from other sources. (Do not net amounts due or paid to other sources against amounts due or received from them.) ..........
11b
 
12a
Section 4947(a)(1) non-exempt charitable trusts. Is the organization filing Form 990 in lieu of Form 1041?
12a
 
 
b
If "Yes," enter the amount of tax-exempt interest received or accrued during the year.
12b
 
13
Section 501(c)(29) qualified nonprofit health insurance issuers.
a
Is the organization licensed to issue qualified health plans in more than one state? .........
Note. See the instructions for additional information the organization must report on Schedule O.
13a
 
 
b
Enter the amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans ....
13b
 
c
Enter the amount of reserves on hand ............
13c
 
14a
Did the organization receive any payments for indoor tanning services during the tax year?.....
14a
 
No
b
If "Yes," has it filed a Form 720 to report these payments? If "No," provide an explanation in Schedule O..
14b
 
 
15
Is the organization subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or excess parachute payment(s) during the year? ....................
If "Yes," see the instructions and file Form 4720, Schedule N.
15
Yes
 
16
Is the organization an educational institution subject to the section 4968 excise tax on net investment income? ..
If "Yes," complete Form 4720, Schedule O.
16
 
No
17
Section 501(c)(21) organizations. Did the trust, or any disqualified or other person engage in any activities that would result in the imposition of an excise tax under section 4951, 4952, or 4953? ..
If "Yes," complete Form 6069.
17
 
 
Form 990 (2023)
Form 990 (2023)
Page 6
Part VI
Governance, Management, and Disclosure. For each "Yes" response to lines 2 through 7b below, and for a "No" response to lines 8a, 8b, or 10b below, describe the circumstances, processes, or changes in Schedule O. See instructions.
Check if Schedule O contains a response or note to any line in this Part VI..............
Section A. Governing Body and Management
Yes
No
1a
Enter the number of voting members of the governing body at the end of the tax year
1a
9
If there are material differences in voting rights among members of the governing body, or if the governing body delegated broad authority to an executive committee or similar committee, explain in Schedule O.
b
Enter the number of voting members included in line 1a, above, who are independent
1b
9
2
Did any officer, director, trustee, or key employee have a family relationship or a business relationship with any other officer, director, trustee, or key employee? .................
2
 
No
3
Did the organization delegate control over management duties customarily performed by or under the direct supervision of officers, directors or trustees, or key employees to a management company or other person? .
3
 
No
4
Did the organization make any significant changes to its governing documents since the prior Form 990 was filed? .
4
 
No
5
Did the organization become aware during the year of a significant diversion of the organization’s assets? .
5
 
No
6
Did the organization have members or stockholders? ................
6
Yes
 
7a
Did the organization have members, stockholders, or other persons who had the power to elect or appoint one or more members of the governing body? ....................
7a
Yes
 
b
Are any governance decisions of the organization reserved to (or subject to approval by) members, stockholders, or persons other than the governing body? ...................
7b
Yes
 
8
Did the organization contemporaneously document the meetings held or written actions undertaken during the year by the following:
a
The governing body? .......................
8a
Yes
 
b
Each committee with authority to act on behalf of the governing body? ............
8b
Yes
 
9
Is there any officer, director, trustee, or key employee listed in Part VII, Section A, who cannot be reached at the organization’s mailing address? If "Yes," provide the names and addresses in Schedule O.......
9
 
No
Section B. Policies (This Section B requests information about policies not required by the Internal Revenue Code.)
Yes
No
10a
Did the organization have local chapters, branches, or affiliates? ............
10a
 
No
b
If "Yes," did the organization have written policies and procedures governing the activities of such chapters, affiliates, and branches to ensure their operations are consistent with the organization's exempt purposes?
10b
 
 
11a
Has the organization provided a complete copy of this Form 990 to all members of its governing body before filing the form? ............................
11a
Yes
 
b
Describe on Schedule O the process, if any, used by the organization to review this Form 990. .....
12a
Did the organization have a written conflict of interest policy? If "No," go to line 13.......
12a
Yes
 
b
Were officers, directors, or trustees, and key employees required to disclose annually interests that could give rise to conflicts? ..........................
12b
Yes
 
c
Did the organization regularly and consistently monitor and enforce compliance with the policy? If "Yes," describe on Schedule O how this was done...................
12c
Yes
 
13
Did the organization have a written whistleblower policy? ...............
13
Yes
 
14
Did the organization have a written document retention and destruction policy? .........
14
Yes
 
15
Did the process for determining compensation of the following persons include a review and approval by independent persons, comparability data, and contemporaneous substantiation of the deliberation and decision?
a
The organization’s CEO, Executive Director, or top management official ...........
15a
Yes
 
b
Other officers or key employees of the organization ................
15b
Yes
 
If "Yes" to line 15a or 15b, describe the process on Schedule O. See instructions.
16a
Did the organization invest in, contribute assets to, or participate in a joint venture or similar arrangement with a taxable entity during the year? ......................
16a
 
No
b
If "Yes," did the organization follow a written policy or procedure requiring the organization to evaluate its participation in joint venture arrangements under applicable federal tax law, and take steps to safeguard the organization’s exempt status with respect to such arrangements? ............
16b
 
 
Section C. Disclosure
17
List the states with which a copy of this Form 990 is required to be filed
IA
18
Section 6104 requires an organization to make its Form 1023 (1024 or 1024-A, if applicable), 990, and 990-T (section 501(c)(3)s only) available for public inspection. Indicate how you made these available. Check all that apply.
19
Describe in Schedule O whether (and if so, how) the organization made its governing documents, conflict of interest policy, and financial statements available to the public during the tax year.
20
State the name, address, and telephone number of the person who possesses the organization's books and records:
VIC ISRANI2355 LANDON ROAD   NORTH LIBERTY,IA53217 (319) 341-2101
Form 990 (2023)
Form 990 (2023)
Page 7
Part VII
Compensation of Officers, Directors,Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
Check if Schedule O contains a response or note to any line in this Part VII..............
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
1a Complete this table for all persons required to be listed. Report compensation for the calendar year ending with or within the organization’s tax year.
RoundBullet List all of the organization’s current officers, directors, trustees (whether individuals or organizations), regardless of amount
of compensation. Enter -0- in columns (D), (E), and (F) if no compensation was paid.

RoundBullet List all of the organization’s current key employees, if any. See the instructions for definition of "key employee."
RoundBullet List the organization’s five current highest compensated employees (other than an officer, director, trustee or key employee)
who received reportable compensation (box 5 of Form W-2, box 6 of Form 1099-MISC, and/or box 1 of Form 1099-NEC) of more than $100,000 from the organization and any related organizations.

RoundBullet List all of the organization’s former officers, key employees, or highest compensated employees who received more than $100,000
of reportable compensation from the organization and any related organizations.

RoundBullet List all of the organization’s former directors or trustees that received, in the capacity as a former director or trustee of the
organization, more than $10,000 of reportable compensation from the organization and any related organizations.

See the instructions for the order in which to list the persons above.
Check this box if neither the organization nor any related organization compensated any current officer, director, or trustee.
(A)
Name and title 		(B)
Average hours per week (list any hours for related organizations below dotted line) 		(C)
Position (do not check more than one box, unless person is both an officer and a director/trustee) 		(D)
Reportable compensation from the organization (W-2/1099-MISC/1099-NEC) 		(E)
Reportable compensation from related organizations (W-2/1099-MISC/1099-NEC) 		(F)
Estimated amount of other compensation from the organization and related organizations
Individual Trustee or Director; Institutional Trustee; OfficerInd; Key Employee; Highest compensated employee; FormerOfcrDirectorTrusteeInd;
(1) Andre Perry
 
Director (resigned 04.21.2023)
 2.0
.................
  		X           0 0 0
(2) Dave Wright
 
BOD - Director
 4.0
.................
  		X           2,400 0 0
(3) Drew Denning
 
BOD - CFO
 3.0
.................
  		X           2,400 0 0
(4) Fred Mims
 
BOD - Chairperson
 13.0
.................
  		X           9,828 0 0
(5) Laurel Day
 
BOD - Secretary
 2.0
.................
  		X           3,864 0 0
(6) Loras Neuroth
 
Committee Chairperson (resigned 04.18.2023)
 2.0
.................
  		X           1,110 0 0
(7) Lynsey Engels
 
BOD - Vice Chariperson
 8.0
.................
  		X           0 0 0
(8) Marc Moen
 
BOD - Director
 2.0
.................
  		X           0 0 0
(9) Mark Rolinger
 
BOD - Credit Committee Chairperson
 2.0
.................
  		X           7,508 0 0
(10) MJ Dolan
 
BOD - Governance Committee Chiarperson
 2.0
.................
  		X           4,262 0 0
(11) Tiffany O'Donnell
 
BOD - Director
 2.0
.................
  		X           0 0 0
(12) Amy Henderson
 
Chief Consumer Service Officer (Left 09/2023)
 50.0
.................
  		    X       869,028 0 86,618
(13) Heather Stumpf
 
Interim CFO
 50.0
.................
  		    X       274,681 0 4,429
(14) James Kelly
 
Chief Marketing Officer
 50.0
.................
  		    X       523,753 0 32,285
(15) Jeffrey Disterhoft
 
President & CEO (Left 09/2023)
 50.0
.................
  		    X       610,408 0 60,354
(16) Katherine Courtney
 
Chief Operating Officer
 50.0
.................
  		    X       769,258 0 44,235
(17) Marsha Wolff
 
Chief HR & Information Officer (Left 09/2023)
 50.0
.................
  		    X       982,395 0 41,367
Form 990 (2023)
Form 990 (2023)
Page 8
Part VII
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees (continued)
(A)
Name and title 		(B)
Average hours per week (list any hours for related organizations below dotted line) 		(C)
Position (do not check more than one box, unless person is both an officer and a director/trustee) 		(D)
Reportable compensation from the organization (W-2/1099-MISC/1099-NEC) 		(E)
Reportable compensation from related organizations (W-2/1099-MISC/1099-NEC) 		(F)
Estimated amount of other compensation from the organization and related organizations
Individual Trustee or Director; Institutional Trustee; OfficerInd; Key Employee; Highest compensated employee; FormerOfcrDirectorTrusteeInd;
(18) Ryan Doehrmann
 
Chief Mortgage Officer
 50.0
.......................   		    X       459,362 0 10,463
(19) Samantha McSorley
 
Chief Commerical Officer
 50.0
.......................   		    X       512,603 0 6,231
(20) Scott Taylor
 
Interim Chief Information Technology
 50.0
.......................   		    X       279,262 0 30,000
(21) Todd Fanning
 
Interim CEO/CFO
 50.0
.......................   		    X       752,862 0 36,105
(22) Daryn Peterson
 
VP/Mortgage Lending
 50.0
.......................   		        X   1,007,035 0 22,500
(23) Eric Norman
 
VP/Mortgage Lending
 50.0
.......................   		        X   671,448 0 30,000
(24) Felisha Junge
 
VP/Mortgage Loan Officer
 50.0
.......................   		        X   547,465 0 8,705
(25) Peter Johnson
 
VP/Mortgage Loan Officer
 50.0
.......................   		        X   444,085 0 32,963
(26) Tyler Knudsvig
 
Commercial Services Loan Officer VP
 50.0
.......................   		        X   436,588 0 26,419








1b Sub-Total..............
c Total from continuation sheets to Part VII, Section A..
d Total (add lines 1b and 1c)......... 9,171,605 0 472,674
2
Total number of individuals (including but not limited to those listed above) who received more than $100,000 of reportable compensation from the organization 247
Yes
No
3
Did the organization list any former officer, director or trustee, key employee, or highest compensated employee on line 1a? If "Yes," complete Schedule J for such individual ..............
3
 
No
4
For any individual listed on line 1a, is the sum of reportable compensation and other compensation from the organization and related organizations greater than $150,000? If "Yes," complete Schedule J for such
individual...........................
4
Yes
 
5
Did any person listed on line 1a receive or accrue compensation from any unrelated organization or individual for services rendered to the organization? If "Yes," complete Schedule J for such person ........
5
 
No
Section B. Independent Contractors
1
Complete this table for your five highest compensated independent contractors that received more than $100,000 of compensation from the organization. Report compensation for the calendar year ending with or within the organization’s tax year.
(A)
Name and business address 		(B)
Description of services 		(C)
Compensation
RSM US LLP

331 W 3rd S Ste 200
Davenport,IA52801 		Technology Support 4,467,108
Consolidated Information Services Solutions LLC

370 Reed Rd Ste 10
Broomall,PA19008 		Mortgage Verification 3,090,540
Lanvera LTD

112 Wrangler Dr STE 150
Coppell,TX75019 		Print Services 2,472,137
SimpleNexus LLC

2600 N Ashton Blvd STE 500
Lehi,UT84043 		Mortgage Software 710,062
McComas-Lacina Construction

1310 Highland Ct
Iowa City,IA52240 		Construction 363,676
2
Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 of compensation from the organization 21
Form 990 (2023)
Form 990 (2023)
Page 9
Part VIII
Statement of Revenue
Check if Schedule O contains a response or note to any line in this Part VIII.............
(A)
Total revenue 		(B)
Related or
exempt
function
revenue 		(C)
Unrelated
business
revenue 		(D)
Revenue
excluded from
tax under sections
512 - 514
Contributions, Gifts, Grants, and OtherAmt Similar Amounts 1a Federated campaigns..1a 0
b Membership dues..1b 0
c Fundraising events..1c 0
d Related organizations1d 0
e Government grants (contributions)1e 0
f All other contributions, gifts, grants, and similar amounts not included above1f 0
g Noncash contributions included in lines 1a - 1f:$ 1g 0
h Total. Add lines 1a-1f....... 0
Program Service RevenueAmt Business Code
2a LOAN INTEREST REVENUE 522100 468,496,672 468,496,672    
b ATM FEE REVENUE 522100 17,823,606 17,606,258 217,348  
c
d
e
f All other program service revenue. 0 0 0 0
g Total. Add lines 2a–2f ..... 486,320,278
OtherAmtRevenueAmt 3 Investment income (including dividends, interest, and othersimilar amounts) ...... 40,433,522     40,433,522
4 Income from investment of tax-exempt bond proceeds        
5 Royalties...........        
(i) Real (ii) Personal
6a Gross rents 6a 363,501  
b Less: rental expenses 6b 0  
c Rental income or (loss) 6c 363,501 0
d Net rental income or (loss)....... 363,501     363,501
(i) Securities (ii) Other
7a Gross amount from sales of assets other than inventory 7a   5,211,079
b Less: cost or other basis and sales expenses 7b   5,622,446
c Gain or (loss) 7c 0 -411,367
d Net gain or (loss)......... -411,367     -411,367
8a Gross income from fundraising events (not including $   of contributions reported on line 1c). See Part IV, line 18 ....
8a 0
b Less: direct expenses ... 8b 0
c Net income or (loss) from fundraising events..      
9a Gross income from gaming activities.
See Part IV, line 19 ...
9a 0
b Less: direct expenses ... 9b 0
c Net income or (loss) from gaming activities..        
10a Gross sales of inventory, less
returns and allowances ..
10a 0
b Less: cost of goods sold .. 10b 0
c Net income or (loss) from sales of inventory..        
OtherRevenueMiscAmt
Business Code
11a SERVICE RELEASE PREMIUMS 522100 21,660,582 21,660,582    
b INTERCHANGE REVENUE 522100 24,905,179 24,905,179    
c MISCELLANEOUS REVENUE 522100 4,292,950 4,292,950    
d All other revenue .... 0 0 0 0
e Total. Add lines 11a–11d ...... 50,858,711
12 Total revenue. See instructions..... 577,564,645 536,961,641 217,348 40,385,656
Form 990 (2023)
Form 990 (2023)
Page 10
Part IX
Statement of Functional Expenses
Section 501(c)(3) and 501(c)(4) organizations must complete all columns. All other organizations must complete column (A).Check if Schedule O contains a response or note to any line in this Part IX..............
Do not include amounts reported on lines 6b,
7b, 8b, 9b, and 10b of Part VIII. 		(A)
Total expenses 		(B)
Program service expenses 		(C)
Management and general expenses 		(D)
Fundraising
expenses
1 Grants and other assistance to domestic organizations and domestic governments. See Part IV, line 21 .... 5,184,044  
2 Grants and other assistance to domestic individuals. See Part IV, line 22 ........... 0  
3 Grants and other assistance to foreign organizations, foreign governments, and foreign individuals. See Part IV, lines 15 and 16. ............. 0  
4 Benefits paid to or for members ....... 0  
5 Compensation of current officers, directors, trustees, and key employees ........... 6,396,165      
6 Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) ......... 0      
7 Other salaries and wages........ 65,275,270      
8 Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) .... 6,673,341      
9 Other employee benefits ....... 24,521,524      
10 Payroll taxes ........... 6,046,731      
11 Fees for services (non-employees):        
a Management ...... 0      
b Legal ......... 384,675      
c Accounting ........... 1,144,433      
d Lobbying ........... 0      
e Professional fundraising services. See Part IV, line 17 0  
f Investment management fees ...... 0      
g Other (If line 11g amount exceeds 10% of line 25, column (A) amount, list line 11g expenses on Schedule O) 1,587,501      
12 Advertising and promotion .... 5,081,335      
13 Office expenses ....... 10,129,330      
14 Information technology ...... 15,252,372      
15 Royalties .. 0      
16 Occupancy ........... 9,072,116      
17 Travel ............ 296,722      
18 Payments of travel or entertainment expenses for any federal, state, or local public officials . 0      
19 Conferences, conventions, and meetings .... 5,115      
20 Interest ........... 50,230,465      
21 Payments to affiliates ....... 0      
22 Depreciation, depletion, and amortization .. 7,932,579      
23 Insurance ... 1,764,423      
24 Other expenses. Itemize expenses not covered above (List miscellaneous expenses in line 24e. If line 24e amount exceeds 10% of line 25, column (A) amount, list line 24e expenses on Schedule O.)
a INTEREST PAID TO MEMBERS 239,957,492      
b PROVISION FOR LOAN LOSS 157,710,197      
c MISCELLANEOUS EXPENSE 28,804,396      
d PROCESSING FEES 18,784,863      
e All other expenses 0      
25 Total functional expenses. Add lines 1 through 24e 662,235,089      
26 Joint costs. Complete this line only if the organization reported in column (B) joint costs from a combined educational campaign and fundraising solicitation. Check here if following SOP 98-2 (ASC 958-720).        
Form 990 (2023)
Form 990 (2023)
Page 11
Part X
Balance Sheet
Check if Schedule O contains a response or note to any line in this Part IX..............
(A)
Beginning of year 		(B)
End of year
Assets 1 Cash–non-interest-bearing ........ 727,104,819 1 1,214,200,234
2 Savings and temporary cash investments ......... 0 2 0
3 Pledges and grants receivable, net ...... 0 3 0
4 Accounts receivable, net ............. 0 4 0
5 Loans and other receivables from any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons .......
17,151,681 5 17,582,520
6 Loans and other receivables from other disqualified persons (as defined under section 4958(f)(1)), and persons described in section 4958(c)(3)(B) ...
0 6 0
7 Notes and loans receivable, net ........... 9,897,852,728 7 9,485,460,076
8 Inventories for sale or use ............ 0 8 0
9 Prepaid expenses and deferred charges ...... 13,696,210 9 14,718,970
10a Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D 10a 198,713,203
b Less: accumulated depreciation 10b 63,373,071 134,660,659 10c 135,340,132
11 Investments—publicly traded securities . 58,379,803 11 91,134,906
12 Investments—other securities. See Part IV, line 11 ..... 0 12  
13 Investments—program-related. See Part IV, line 11 .. 0 13  
14 Intangible assets ............... 136,955,164 14 134,990,764
15 Other assets. See Part IV, line 11 ........... 292,782,013 15 237,792,467
16 Total assets. Add lines 1 through 15 (must equal line 33)... 11,278,583,077 16 11,331,220,069
Liabilities 17 Accounts payable and accrued expenses ..... 57,821,129 17 82,243,705
18 Grants payable ... 0 18 0
19 Deferred revenue ......... 0 19 0
20 Tax-exempt bond liabilities ......... 0 20 0
21 Escrow or custodial account liability. Complete Part IV of Schedule D 21,861,910 21 0
22 Loans and other payables to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons .........
0 22 0
23 Secured mortgages and notes payable to unrelated third parties .. 1,209,819,827 23 1,250,843,765
24 Unsecured notes and loans payable to unrelated third parties .. 0 24 0
25 Other liabilities (including federal income tax, payables to related third parties, and other liabilities not included on lines 17 - 24). Complete Part X of Schedule D 9,079,604,874 25 9,212,511,227
26 Total liabilities. Add lines 17 through 25.. 10,369,107,740 26 10,545,598,697
Net Assets or Fund Balance Organizations that follow FASB ASC 958, check here and complete lines 27, 28, 32, and 33.
27 Net assets without donor restrictions ..........   27  
28 Net assets with donor restrictions ...........   28  
Organizations that do not follow FASB ASC 958, check here right arrow and complete lines 29 through 33.
29 Capital stock or trust principal, or current funds ..... 0 29 0
30 Paid-in or capital surplus, or land, building or equipment fund ... 0 30 0
31 Retained earnings, endowment, accumulated income, or other funds 909,475,337 31 785,621,372
32 Total net assets or fund balances ........... 909,475,337 32 785,621,372
33 Total liabilities and net assets/fund balances ........ 11,278,583,077 33 11,331,220,069
Form 990 (2023)
Form 990 (2023)
Page 12
Part XI
Reconcilliation of Net Assets
Check if Schedule O contains a response or note to any line in this Part XI..............
1
Total revenue (must equal Part VIII, column (A), line 12) ............
1
577,564,645
2
Total expenses (must equal Part IX, column (A), line 25) ............
2
662,235,089
3
Revenue less expenses. Subtract line 2 from line 1 ..............
3
-84,670,444
4
Net assets or fund balances at beginning of year (must equal Part X, line 32, column (A)) ..
4
909,475,337
5
Net unrealized gains (losses) on investments ...............
5
1,917,892
6
Donated services and use of facilities .................
6
 
7
Investment expenses .....................
7
 
8
Prior period adjustments .....................
8
 
9
Other changes in net assets or fund balances (explain in Schedule O) ........
9
-41,101,413
10
Net assets or fund balances at end of year. Combine lines 3 through 9 (must equal Part X, line 32, column (B))
10
785,621,372
Part XII
Financial Statements and Reporting
Check if Schedule O contains a response or note to any line in this Part XII.............
Yes
No
1
Accounting method used to prepare the Form 990:  
If the organization changed its method of accounting from a prior year or checked "Other," explain on
Schedule O.
2a
Were the organization’s financial statements compiled or reviewed by an independent accountant?
2a
 
No
If ‘Yes,’ check a box below to indicate whether the financial statements for the year were compiled or reviewed on a separate basis, consolidated basis, or both:
b
Were the organization’s financial statements audited by an independent accountant?
2b
Yes
 
If ‘Yes,’ check a box below to indicate whether the financial statements for the year were audited on a separate basis, consolidated basis, or both:
c
If "Yes," to line 2a or 2b, does the organization have a committee that assumes responsibility for oversight of the audit, review, or compilation of its financial statements and selection of an independent accountant?
2c
Yes
 
If the organization changed either its oversight process or selection process during the tax year, explain in Schedule O.
3a
As a result of a federal award, was the organization required to undergo an audit or audits as set forth in the Uniform Guidance, 2 C.F.R. Part 200, Subpart F?
3a
 
No
b
If "Yes," did the organization undergo the required audit or audits? If the organization did not undergo the required audit or audits, explain why in Schedule O and describe any steps taken to undergo such audits.
3b
 
 
Form 990 (2023)
Form 990 (2023)
Additional Data


Software ID: 23017437
Software Version: 2023v5.0
Form 990, Special Condition Description:
Special Condition Description
SCHEDULE D
(Form 990)
Department of the Treasury
Internal Revenue Service
Supplemental Financial Statements
right arrow Complete if the organization answered "Yes," on Form 990,
Part IV, line 6, 7, 8, 9, 10, 11a, 11b, 11c, 11d, 11e, 11f, 12a, or 12b.
right arrow Attach to Form 990.
right arrow Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
2022
Open to Public Inspection
Name of the organization
GreenState Credit Union
 
Employer identification number

42-0804594
Part I
Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts. Complete if the organization answered "Yes" on Form 990, Part IV, line 6.
(a) Donor advised funds (b) Funds and other accounts
1 Total number at end of year .........    
2 Aggregate value of contributions to (during year)    
3 Aggregate value of grants from (during year)    
4 Aggregate value at end of year ........    
5
Did the organization inform all donors and donor advisors in writing that the assets held in donor advised funds are the organization’s property, subject to the organization’s exclusive legal control? ............
6
Did the organization inform all grantees, donors, and donor advisors in writing that grant funds can be used only for charitable purposes and not for the benefit of the donor or donor advisor, or for any other purpose conferring impermissible private benefit? ...................................
Part II
Conservation Easements.
Complete if the organization answered "Yes" on Form 990, Part IV, line 7.
1
Purpose(s) of conservation easements held by the organization (check all that apply).
2
Complete lines 2a through 2d if the organization held a qualified conservation contribution in the form of a conservation easement on the last day of the tax year.
Held at the End of the Year
a Total number of conservation easements ...................... 2a  
b Total acreage restricted by conservation easements .................... 2b  
c Number of conservation easements on a certified historic structure included in (a) ..... 2c  
d Number of conservation easements included in (c) acquired after July 25, 2006, and not on a historic structure listed in the National Register ... 2d  
3
Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during the
tax year right arrow  
4
Number of states where property subject to conservation easement is located right arrow  
5
Does the organization have a written policy regarding the periodic monitoring, inspection, handling of violations, and enforcement of the conservation easements it holds? ............
6
Staff and volunteer hours devoted to monitoring, inspecting, handling of violations, and enforcing conservation easements during the year
right arrow  
7
Amount of expenses incurred in monitoring, inspecting, handling of violations, and enforcing conservation easements during the year
right arrow $  
8
Does each conservation easement reported on line 2(d) above satisfy the requirements of section 170(h)(4)(B)(i) and section 170(h)(4)(B)(ii)? .............................
9
In Part XIII, describe how the organization reports conservation easements in its revenue and expense statement, and
balance sheet, and include, if applicable, the text of the footnote to the organization’s financial statements that describes
the organization’s accounting for conservation easements.
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets.
Complete if the organization answered "Yes" on Form 990, Part IV, line 8.
1a
If the organization elected, as permitted under FASB ASC 958, not to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide, in Part XIII, the text of the footnote to its financial statements that describes these items.
b
If the organization elected, as permitted under FASB ASC 958, to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide the following amounts relating to these items:
(i)
Revenue included on Form 990, Part VIII, line 1 .........................right arrow $  
(ii)
Assets included in Form 990, Part X ...............................right arrow $  
2
If the organization received or held works of art, historical treasures, or other similar assets for financial gain, provide the
following amounts required to be reported under FASB ASC 958 relating to these items:
a
Revenue included on Form 990, Part VIII, line 1 ..........................right arrow $  
b
Assets included in Form 990, Part X ...............................right arrow $  
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 52283D
Schedule D (Form 990) 2022

Schedule D (Form 990) 2022
Page 2
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets (continued)
3
Using the organization’s acquisition, accession, and other records, check any of the following that are a significant use of its collection items (check all that apply):
a
d
b
e
 
c
4
Provide a description of the organization’s collections and explain how they further the organization’s exempt purpose in
Part XIII.
5
During the year, did the organization solicit or receive donations of art, historical treasures or other similar
assets to be sold to raise funds rather than to be maintained as part of the organization’s collection?...
Part IV
Escrow and Custodial Arrangements. Complete if the organization answered "Yes" on Form 990, Part IV, line 9, or reported an amount on Form 990, Part X, line 21.
1a
Is the organization an agent, trustee, custodian or other intermediary for contributions or other assets not
included on Form 990, Part X? ....................................
b If "Yes," explain the arrangement in Part XIII and complete the following table: Amount
c Beginning balance ............................. 1c  
d Additions during the year ............................ 1d  
e Distributions during the year .......................... 1e  
f Ending balance ................................ 1f  
2a
Did the organization include an amount on Form 990, Part X, line 21, for escrow or custodial account liability? ...
b
If "Yes," explain the arrangement in Part XIII. Check here if the explanation has been provided in Part XIII ....
Part V
Endowment Funds.
Complete if the organization answered "Yes" on Form 990, Part IV, line 10.
(a) Current year (b) Prior year (c) Two years back (d) Three years back (e) Four years back
1a Beginning of year balance ....          
b Contributions ...          
c Net investment earnings, gains, and losses          
d Grants or scholarships ...          
e Other expenditures for facilities
and programs ... 		         
f Administrative expenses ....          
g End of year balance ......          
2
Provide the estimated percentage of the current year end balance (line 1g, column (a)) held as:
a
Board designated or quasi-endowment right arrow  
b
Permanent endowment right arrow  
c
Term endowment right arrow  
The percentages on lines 2a, 2b, and 2c should equal 100%.
3a
Are there endowment funds not in the possession of the organization that are held and administered for the
organization by:

Yes
No
(i) Unrelated organizations .................
3a(i)
 
 
(ii) Related organizations .................
3a(ii)
 
 
b
If "Yes" on 3a(ii), are the related organizations listed as required on Schedule R? .........
3b
 
 
4
Describe in Part XIII the intended uses of the organization's endowment funds.
Part VI
Land, Buildings, and Equipment.
Complete if the organization answered "Yes" on Form 990, Part IV, line 11a. See Form 990, Part X, line 10.
Description of property (a) Cost or other basis
(investment) 		(b) Cost or other basis (other) (c) Accumulated depreciation (d) Book value
1a Land .....   37,600,707 37,600,707
b Buildings ....   104,295,590 17,568,793 86,726,797
c Leasehold improvements   505,310 100,863 404,447
d Equipment ....   55,859,235 45,703,415 10,155,820
e Other .....   452,361   452,361
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).)..right arrow 135,340,132
Schedule D (Form 990) 2022

Schedule D (Form 990) 2022
Page 3
Part VII
Investments - Other Securities.
Complete if the organization answered "Yes" on Form 990, Part IV, line 11b. See Form 990, Part X, line 12.
(a) Description of security or category
(including name of security)		 (b) Book value (c) Method of valuation:
Cost or end-of-year market value
(1) Financial derivatives.........    
(2) Closely-held equity interests........    
(3)Other
(A)
(B)
(C)
(D)
(E)
(F)
(G)
(H)
Total. (Column (b) must equal Form 990, Part X, col. (B) line 12.)right arrow  
Part VIII
Investments - Program Related. Complete if the organization answered 'Yes' on Form 990, Part IV, line 11c. See Form 990, Part X, line 13.
(a) Description of investment (b) Book value (c) Method of valuation:
Cost or end-of-year market value
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 13.)right arrow  
Part IX
Other Assets.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 11d. See Form 990, Part X, line 15.
(a) Description (b) Book value
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 15.)...........right arrow  
Part X
Other Liabilities.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 11e or 11f. See Form 990, Part X, line 25.
1.(a) Description of liability (b) Book value
(1) Federal income taxes  
MEMBER CHECKING & SAVINGS ACCOUNT 2,985,357,579
CD'S & IRA'S 4,413,141,308
NONMEMBER MMA 1,814,012,340
ROU LIABILITY  





Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)right arrow 9,212,511,227
2. Liability for uncertain tax positions. In Part XIII, provide the text of the footnote to the organization's financial statements that reports the organization's liability for uncertain tax positions under FIN 48 (ASC 740). Check here if the text of the footnote has been provided in Part XIII
Schedule D (Form 990) 2022

Schedule D (Form 990) 2022
Page 4
Part XI Reconciliation of Revenue per Audited Financial Statements With Revenue per Return. Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1 Total revenue, gains, and other support per audited financial statements ....... 1  
2 Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a Net unrealized gains (losses) on investments .... 2a  
b Donated services and use of facilities ......... 2b  
c Recoveries of prior year grants ........... 2c  
d Other (Describe in Part XIII.) ........... 2d  
e Add lines 2a through 2d ..................... 2e  
3 Subtract line 2e from line 1.................. 3  
4 Amounts included on Form 990, Part VIII, line 12, but not on line 1:
a Investment expenses not included on Form 990, Part VIII, line 7b . 4a  
b Other (Describe in Part XIII.) ........... 4b  
c Add lines 4a and 4b.................... 4c  
5 Total revenue. Add lines 3 and 4c. (This must equal Form 990, Part I, line 12.) ...... 5  
Part XII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return. Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1 Total expenses and losses per audited financial statements ........... 1  
2 Amounts included on line 1 but not on Form 990, Part IX, line 25:
a Donated services and use of facilities ......... 2a  
b Prior year adjustments ............ 2b  
c Other losses ................ 2c  
d Other (Describe in Part XIII.) ........... 2d  
e Add lines 2a through 2d.................... 2e  
3 Subtract line 2e from line 1................... 3  
4 Amounts included on Form 990, Part IX, line 25, but not on line 1:
a Investment expenses not included on Form 990, Part VIII, line 7b .. 4a  
b Other (Describe in Part XIII.) ........... 4b  
c Add lines 4a and 4b..................... 4c  
5 Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part I, line 18.) ...... 5  
Part XIII
Supplemental Information
Provide the descriptions required for Part II, lines 3, 5, and 9; Part III, lines 1a and 4; Part lV, lines 1b and 2b; Part V, line 4; Part X, line 2; Part XI, lines 2d and 4b; and Part XII, lines 2d and 4b. Also complete this part to provide any additional information.
Return Reference Explanation
Schedule D, Part IV, Line 2b Explanation of escrow agreement GREENSTATE CREDIT UNION COLLECTS AMOUNTS FROM MEMBERS WITH REAL ESTATE LOANS EACH MONTH VIA THEIR CONTRACTUAL PAYMENT SCHEDULE. THESE FUNDS ARE HELD IN ESCROW UNTIL THEY NEED TO BE DISBURSED IN ACCORDANCE WITH THE ESCROW INSTRUCTIONS FOR EACH MEMBER. AMOUNTS HELD IN ESCROW ARE FOR PROPERTY TAXES AND HOMEOWNER'S INSURANCE.
Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote Greenstate Credit Union is exempt from income tax under section 501(c)(14) of the Internal Revenue Code and therefore no income taxes have been provided for the financial statements. The credit union does however pay property taxes to the county and city on its buildings and computer equipment and is assessed other amounts which have been reflected in the credit unions financial statements. The credit union accounts for uncertainty in income taxes in accordance with ASC 740, which addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under this guidance, the credit union may recognize the tax benefits from an uncertain tax position only if it is more-likely-than-not that the tax position will be sustained on examination by taxing authorities, based on technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. The guidance on accounting for uncertainty in income taxes also addresses derecognition, classification, interest and penalties on income taxes, and accounting in interim periods. This standard did not have an impact on the financial statements and the credit union does not have any uncertain tax positions. The credit union recognizes interest and penalties on income taxes as a component of income tax expense.
Schedule D (Form 990) 2022


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Schedule I
(Form 990)
Department of the Treasury
Internal Revenue Service
Grants and Other Assistance to Organizations,
Governments and Individuals in the United States
Complete if the organization answered "Yes," on Form 990, Part IV, line 21 or 22.
lBullet Attach to Form 990.
lBullet Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
2023
Open to Public
Inspection
Name of the organization
GreenState Credit Union
 
Employer identification number
42-0804594
Part I
General Information on Grants and Assistance
1
Does the organization maintain records to substantiate the amount of the grants or assistance, the grantees' eligibility for the grants or assistance, and
the selection criteria used to award the grants or assistance? ........................
2
Describe in Part IV the organization's procedures for monitoring the use of grant funds in the United States.
Part II
Grants and Other Assistance to Domestic Organizations and Domestic Governments. Complete if the organization answered "Yes" on Form 990, Part IV, line 21, for any recipient
that received more than $5,000. Part II can be duplicated if additional space is needed.
(a) Name and address of organization
or government		 (b) EIN (c) IRC section
(if applicable)		 (d) Amount of cash grant (e) Amount of non-cash
assistance		 (f) Method of valuation
(book, FMV, appraisal,
other)		 (g) Description of
noncash assistance		 (h) Purpose of grant
or assistance
(1) Quad Cities River Bandits
5120 Hamilton Ct
Davenport,IA52807 		11-3804992 LLC 5,000       Bandits Scholars Program
(2) Friends of Historic Downtown West Branch (DBA West Branch Community Develop
ment Group)
127 W Main St PO Box 786
West Branch,IA52358 		20-3304311 501(c)(3) 5,000       2023 Events including Sweets for Success, Kickoff to Summer, Fall Fest and A Christmas Past
(3) Iowa Central Community College Foundation
1 Triton Circle
Fort Dodge,IA50501 		23-7043863 501(c)(3) 5,000       Center for Performing Arts transformation and expansion
(4) The Conservation Foundation
10S404 Knoch Knolls
Naperville,IL60565 		23-7221206 501(c)(3) 5,000       2023 Sponsorship Package
(5) Des Moines Area Community College Foundation
2006 S Ankeny Blvd Bldg 22
Ankeny,IA50023 		23-7229486 501(c)(3) 5,000       DMACC 5K Walk/Run
(6) Indian Creek Nature Center
5300 Otis Rd SE
Cedar Rapids,IA52403 		23-7260197 501(c)(3) 5,000       2023 Event Partnership
(7) Cedar Rapids Public Library Foundation
450 5th Ave SE
Cedar Rapids,IA52403 		23-7292786 501(c)(3) 5,000       Summer Dare
(8) Mentor Iowa
2332 Rocklyn Drive
Urbandale,IA50323 		23-7329212 501(c)(3) 5,000       20th annual Mentor Iowa auction
(9) Meals From the Heartland
357 Lincoln Street
West Des Moines,IA50265 		26-3443290 501(c)(3) 5,000       2024 MLK Jr Day of Packaging
(10) Hope's Front Door
1047 Curtiss Street
Downers Grove,IL60515 		27-0073814 501(c)(3) 5,000       Hands of Hope Luncheon, Pathways to Financial Health Sponorship
(11) Newbo City Market
1100 Third St SE
Cedar Rapids,IA52401 		27-0600567 501(c)(3) 5,000       Meet Me at the Market
(12) Hinsdale Humane Society
21 Salt Creek Lane
Hinsdale,IL60521 		36-2441177 501(c)(3) 5,000       Hinsdale Humane Society
(13) Mutual Ground Inc
418 Oak Avenue
Aurora,IL60506 		36-2921680 501(c)(3) 5,000       Corporate Partner Program
(14) DuPage Children's Museum
301 North Washington Street
Naperville,IL60540 		36-3565001 501(c)(3) 5,000       Members Only/Family Fun Friday Family Events
(15) DuPage Habitat for Humanity
1600 E Roosevelt Rd
Wheaton,IL60187 		36-4003119 501(c)(3) 5,000       Home Dedication
(16) 100 Men Who Care Tri-State Area
1900 John F Kennedy Rd
Dubuque,IA52002 		36-4761269 501(c)(3) 5,000       100+ Men Who Care Quarterly Meetings
(17) Edmundson Art Foundation Inc dba Des Moines Art Center
4700 Grand Ave
Des Moines,IA50312 		42-0680419 501(c)(3) 5,000       2023 Community Art Access
(18) Willkie House
900 17th Street
Des Moines,IA50314 		42-0680433 501(c)(3) 5,000       Willkie House Gym Renovation
(19) YMCA of Greater Des Moines
501 Grand Ave
Des Moines,IA50309 		42-0680438 501(c)(3) 5,000       Y Supportive Housing Campus
(20) Young Men's Christian Association of the Iowa Mississippi Valley - North Fa
mily YMCA
624 W 53rd St
Davenport,IA52806 		42-0703278 501(c)(3) 5,000       2023 Annual Campaign
(21) United Way of Dubuque Area Tri-States
215 W 6th St
Dubuque,IA52001 		42-0761060 501(c)(3) 5,000       United Way Campaign 2023
(22) Orchestra Iowa Inc
119 Third Avenue SE
Cedar Rapids,IA52401 		42-0772544 501(c)(3) 5,000       2022-23 Season of Concerts & Educational Programming
(23) Holy Family Catholic Schools
2005 Kane Street
Dubuque,IA52001 		42-0792429 501(c)(3) 5,000       2022/2023 Business Sponsorship
(24) Cedar Valley United Way
425 Cedar Street Suite 300
Waterloo,IA50701 		42-0801846 501(c)(3) 5,000       United Way Campaign 2023
(25) Community & Family Resources
211 Ave M West
Fort Dodge,IA50501 		42-0938934 501(c)(3) 5,000       First American Bank Pledge
(26) Four Oaks
5400 Kirkwood Blvd SW
Cedar Rapids,IA52404 		42-0998726 501(c)(3) 5,000       Four Oaks 2023 Pickleball Classic
(27) Iowa City Public Library Friends Foundation
123 S Linn St
Iowa City,IA52240 		42-1181774 501(c)(3) 5,000       Business Partner of the Month/June 2022, 2023, 2024
(28) Riverside Theatre
119 E College Street
Iowa City,IA52240 		42-1188839 501(c)(3) 5,000       Riverside Theatre- Crescent Block Theatre Construction
(29) Ronald McDonald House Charities of Eastern Iowa and Western Illinois
730 Hawkins Dr
Iowa City,IA52246 		42-1189783 501(c)(3) 5,000       Piano Celebration
(30) Mississippi Valley Blues Society
102 South Harrison St Suite 203
Davenport,IA52801 		42-1233714 501(c)(3) 5,000       Annual Fall Blues Festival
(31) Linn-Mar School Foundation
2999 10th St
Marion,IA52302 		42-1267125 501(c)(3) 5,000       Linn-Mar School Foundation - feed it forward
(32) Iowa Women's Foundation
2201 E Grantview Dr Suite 200
Coralville,IA52241 		42-1431092 501(c)(3) 5,000       Annual Event Sponsorship
(33) Fort Dodge United Way and Community Foundation
24 North 9th Street Suite B
Fort Dodge,IA50501 		42-1439853 501(c)(3) 5,000       United Way Campaign 2023
(34) Williamsburg Community School District Foundation
810 W Walnut Street
Williamsburg,IA52361 		42-1468053 501(c)(3) 5,000       Williamsburg Performance Center
(35) The Diversity Service Center of Iowa
1514 Isett Avenue Ste 2
Muscatine,IA52761 		42-1515197 501(c)(3) 5,000       Educational Outreach Program
(36) Broadlawns Medical Center Foundation
1801 Hickman Road
Des Moines,IA50314 		42-1527407 501(c)(3) 5,000       Broadlawns Foundation 33rd Annual Golf Outing
(37) Figge Art Museum
225 W 2nd Street
Davenport,IA52801 		42-6090398 501(c)(3) 5,000       Diversity & Equity Art Fund and Young Artist Exhibition at the Figge
(38) Hospice Home of Johnson County-The Bird House
8 Lime Kiln Lane NE
Iowa City,IA52240 		46-2471547 501(c)(3) 5,000       Operating Expenses
(39) American National Red Cross
2116 Grand Ave
Des Moines,IA50312 		53-0196605 501(c)(3) 5,000       Everyday Heroes / Emergency Response Vehicle
(40) American National Red Cross
2116 Grand Ave
Des Moines,IA50312 		53-0196605 501(c)(3) 5,000       Everyday Heroes / Emergency Response Vehicle
(41) Old Settlers Days-Rockton Lions Charities
220 E Harwick St
Rockton,IL61072 		56-2496204 501(c)(3) 5,000       Old Settlers Days
(42) Families Helping Families of Iowa Inc
6000 7th St SW
CEDAR RAPIDS,IA52404 		71-0985937 501(c)(3) 5,000       Annual Corporate Sponsorship
(43) Johnson County Affordable Housing Coalition
322 E 2nd St
Iowa City,IA52240 		81-3048753 501(c)(3) 5,000       Key Sponsor
(44) Think Big Corporation
6933 Pats Circle
Rockford,IL61102 		83-2070051 501(c)(3) 5,000       Think Big School of Business
(45) Job Rides Inc
3504 129th Street
Urbandale,IA50323 		87-3938907 501(c)(3) 5,000       Job Rides, Inc. Services: Rides for Employment
(46) Bix 7
1225 E River Dr suite 230
Davenport,IA52803 		93-0708918 501(c)(3) 5,000       Quad-City Times Bix 7
(47) Outreach
373 S Schmale Road
Carol Stream,IL60188 		23-7265066 501(c)(3) 5,000       General Expenses
(48) American Cancer Society - Coaches vs Cancer Set the Screen
American Cancer Society Inc
Iowa City,IA52246 		13-1788491 501(c)(3) 5,000       Coaches vs Cancer Set the Screen
(49) Kirkwood Community College Foundation
6301 Kirkwood Blvd SW
Cedar Rapids,IA52404 		23-7076632 501(c)(3) 5,425       Financial Literacy Fair, Career Discovery Tours, STEAM
(50) Xavier High School
6300 42nd Street NE
Cedar Rapids,IA52411 		42-0802294 501(c)(3) 5,500       Xaviers Dancing with the Saints
(51) Marion Independent School Foundation & Alumni Association
777 South 15th Street
Marion,IA52302 		42-1343360 501(c)(3) 5,500       FASTWorks/Golf Classic/Senior Night
(52) Summer of the Arts Inc
319 E 1st Street
Iowa City,IA52240 		42-1412706 501(c)(3) 5,500       Free Movie Series
(53) City of Cedar Falls Cedar Falls Tourism
6510 Hudson Rd
Cedar Falls,IA50613 		42-6004332 501(c)(3) 5,500       Panthers on Parade
(54) Iowa City Area Business Partnership
136 S Dubuque St
Iowa City,IA52240 		42-0330530 501(c)(6) 5,900       Sponsorships for 2023
(55) North Liberty Community Betterment Group
PO Box 77
North Liberty,IA52317 		27-2559163 501(c)(3) 6,000       Beat the Bitter - Fire & Ice
(56) North Liberty Community Betterment Group
PO Box 77
North Liberty,IA52317 		27-2559163 501(c)(3) 6,000       Beat the Bitter - Fire & Ice
(57) Waterloo Schools Foundation
PO Box 1896
Waterloo,IA50704 		42-1364293 501(c)(3) 6,000       Annual Sponsorship Program
(58) Beyond Pink TEAM
1407 Ashbury Road
Waterloo,IA50701 		42-1445986 501(c)(3) 6,000       Pink Ribbon Run
(59) City of Hiawatha
101 Emmons Street
Hiawatha,IA52233 		42-6025060 Government Entity 6,000       Music in the Park
(60) UNI Foundation - Panther Scholarship Club
UNI-Dome NW Lower 283
Cedar Falls,IA50614 		42-6058591 501(c)(3) 6,000       Panther Scholarship Club - Panther Champions Scholarship Program
(61) 247 Blac
131 Tower Park Dr
Waterloo,IA50701 		90-1179763 501(c)(3) 6,000       Vitality Black Businesss Expo & Pitch Competition
(62) Iowa City Parks and Recreation
220 S Gilbert Street
Iowa City,IA52240 		42-6004805 501(c)(3) 6,250       Market Music and Farmer's Market Events
(63) Xavier High School
6300 42nd Street NE
Cedar Rapids,IA52411 		42-0802294 501(c)(3) 6,300       Xaviers Dancing with the Saints
(64) Heritage Christian School
255 Hackberry Street
North Liberty,IA52317 		42-1386017 501(c)(3) 6,925       2023 Give & Grow School Match
(65) American Heart Association
1035 N Center Point Road Suite B H
Hiawatha,IA52233 		13-5613797 501(c)(3) 7,000       Eastern Iowa American Heart Association
(66) Iowa City Downtown District
103 E College St IA 5224
Iowa City,IA52240 		42-1376887 501(c)(6) 7,000       Downtown Block Party
(67) National Balloon Classic
PO BOX 346
INDIANOLA,IA501250346 		51-0137286 501(c)(3) 7,000       National Balloon Classic
(68) Saint Edmond Catholic Schools
2220 4th Ave N
Fort Dodge,IA50501 		26-2935041 501(c)(3) 7,400       2023 Give & Grow School Match
(69) United Way of the Quad Cities Area
852 Middle Rd Unit 401
Bettendorf,IA52722 		36-2725960 501(c)(3) 7,500       United Way Campaign 2023
(70) Dubuque Museum of Art
701 Locust Street
Dubuque,IA52001 		42-1071185 501(c)(3) 7,500       Black History Month Interactive Installation by Jill Wells
(71) Think Iowa City
900 1st Ave
Coralville,IA52241 		42-1203842 501(c)(6) 7,500       FRYfest
(72) Children's Cancer Connection
5701 Greendale Road
Johnston,IA50131 		42-1313167 501(c)(3) 7,500       Teen Camp, Camping the Night Away Swisher, and ADA Accessible Playground
(73) Boys & Girls Clubs of the Cedar Valley
515 Lime Street
Waterloo,IA50701 		42-6083723 501(c)(3) 7,500       Exploring The Great Outdoors Event
(74) Faith Academy
1030 Cross Park Ave
Iowa City,IA52240 		82-3695810 501(c)(3) 7,500       2023 Give & Grow School Match
(75) St Thomas More Catholic Church
3000 12th Ave
Coralville,IA52241 		42-0680432 501(c)(3) 8,333       Growing More in Faith Capital Campaign
(76) Cedar Valley Humane Society
7411 Mt Vernon Road
Cedar Rapids,IA52403 		42-0814023 501(c)(3) 8,333       Expanding Our Pawprint Capital Campaign
(77) Tanager Place
2309 C St SW
Cedar Rapids,IA52404 		42-0688079 501(c)(3) 8,333       Camp Tanager Capacity Expansion
(78) Team IRG
5406 Douglas Ave
Des Moines,IA50310 		46-5539632 LLC 8,500       Past Client Events
(79) Boys & Girls Club of the Corridor
420 6th Street SE Suite 240
Cedar Rapids,IA52401 		42-1434056 501(c)(3) 8,750       Community Partner
(80) Boys & Girls Club of the Corridor
420 6th Street SE Suite 240
Cedar Rapids,IA52401 		42-1434056 501(c)(3) 8,750       Community Partner
(81) Des Moines Wine Festival Foundation
1011 Locust Street Suite 301
Des Moines,IA50309 		05-0627578 501(c)(3) 10,000       Winefest Winter Wine + Dine Week
(82) Des Moines Wine Festival Foundation
1011 Locust Street Suite 301
Des Moines,IA50309 		05-0627578 501(c)(3) 10,000       Winter Wine + Dine Week
(83) Juvenile Diabetes Research Foundation - Eastern Iowa
1026 A Ave NEBox 3026
Cedar Rapids,IA52402 		23-1907729 501(c)(3) 10,000       JDRF One Walk and Promise Gala
(84) Julien Dubuque International Film Festival
450 Bradley Street
Dubuque,IA52003 		26-4261800 501(c)(3) 10,000       Julien Dubuque International Film Festival (JDIFF)
(85) North Liberty Community Betterment Group
PO Box 77
North Liberty,IA52317 		27-2559163 501(c)(3) 10,000       North Liberty Blues & BBQ
(86) Chicago Zoological Society - Brookfield Zoo
3300 Golf Rd
Brookfield,IL60513 		36-2167016 501(c)(3) 10,000       Living Coast Space Pad Sponsorship
(87) Paramount Arts Center
8 East Galena Blvd
Aurora,IL60506 		36-3189061 501(c)(3) 10,000       Spotlight Sponsor "Little Shop of Horrors"
(88) DuPage Pads
601 W Liberty Dr
Wheaton,IL60187 		36-3675494 501(c)(3) 10,000       Operating Support
(89) His Hands Free Medical Clinic
1245 Second Ave SE
Cedar Rapids,IA52403 		39-1878606 non profit 10,000       Great Need. Great Care. The campaign to grow His Hands Free Clinic
(90) Iowa Wolves
730 Third Street
Des Moines,IA50309 		41-1796677 partnership 10,000       Every Child A Ball and Ball Exchange Programs
(91) Federacion de Clubes Michoacanos en Illinois
900 Roosevelt Rd
West Chicago,IL60185 		41-2061019 501(c)(3) 10,000       Immigrant Education Program
(92) University of Iowa Center for Advancement
1 West Park Road
Iowa City,IA52242 		42-0796760 501(c)(3) 10,000       Hancher's 51st Season - 2023/24
(93) Community Theatre of Cedar Rapids Inc dba Theatre Cedar Rapids
102 3rd St SE
Cedar Rapids,IA52401 		42-0890913 501(c)(3) 10,000       Theatre Cedar Rapids Lounge Sponsorship 2023-24 Season
(94) Junior Achievement of the Heartland
800 12th Avenue
Moline,IL61265 		42-0919209 501(c)(3) 10,000       JA Inspire Career Expo
(95) Think Iowa City
900 1st Ave
Coralville,IA52241 		42-1203842 501(c)(6) 10,000       Foodie February
(96) ICAD
136 S Dubuque Street
Iowa City,IA52240 		42-1234837 501(c)(6) 10,000       Builders and Backers - Local Pebble Grant Funding
(97) Family & Children's Council
208 E 4th St
Waterloo,IA50703 		42-1307663 501(c)(3) 10,000       Take Charge of Your Body Sexual Abuse Prevention Program
(98) Iowa City Downtown District
103 E College St
Iowa City,IA52240 		42-1376887 501(c)(6) 10,000       Kids Market & Holiday Pop-Up Market
(99) EDC Inc
230 2nd St SE Suite 212
Cedar Rapids,IA52401 		42-1447565 501(c)(6) 10,000       Entrepreneurial Development Center (EDC) Vitality
(100) Iowa Health Foundation dba Blank Children's Hospital
1415 Woodland Avenue Suite E200
Des Moines,IA50309 		42-1467682 501(c)(3) 10,000       John Stoddard Cancer Center Rally Against Cancer
(101) Linking Families and Communities
822 Central Avenue Suite 300
Fort Dodge,IA50501 		42-1595304 501(c)(3) 10,000       Planting the SEEDS for a Brighter Future
(102) Big Brothers Big Sisters of Johnson County
3109 Old Hwy 218 S
Iowa City,IA52246 		42-6061606 501(c)(3) 10,000       Bowl for Kids' Sake 2023 - Ruby Anniversary
(103) Boys & Girls Clubs of Central Iowa
1421 Walker Street
Des Moines,IA50316 		42-6075138 501(c)(3) 10,000       Power Hour: Making Minutes Count & Youth of the Year Sponsorship
(104) Filmscene
404 E College 100
Iowa City,IA52240 		45-4103745 501(c)(3) 10,000       Community Collaborations
(105) Latino Resources Inc
4217 University Ave Suite 1
Des Moines,IA50311 		54-2074268 501(c)(3) 10,000       Latino Heritage Festival
(106) Corridor Business Journal
2345 Landon Road Suite 100
North Liberty,IA52317 		76-0758768 s corp 10,000       Diversity, Inclusion & Impact Symposium
(107) Capital City Pride
2643 Beaver Ave 170
Des Moines,IA50310 		77-0690820 501(c)(3) 10,000       Pride Fest
(108) LadyLike co Back 2 School Iowa
1021 North Dakota Ave
Ames,IA50014 		82-4046219 501(c)(3) 10,000       2023 LadyLike PowHER Conference
(109) KNOCK AND DROP IOWA
4801 Franklin Avenue
DES MOINES,IA50310 		85-0633938 501(c)(3) 10,000       CULTURALLY SPECIFIC FOODS - Karla Rangel
(110) BWELL Foundation
900 Keo Way Suite 108
Des Moines,IA50310 		85-2167776 501(c)(3) 10,000       King Elementary Tacticle Mural and Sensory Wellness Space
(111) BWELL Foundation
900 Keo Way Suite 108
Des Moines,IA50310 		85-2167776 501(c)(3) 10,000       King Elementary Tacticle Mural and Sensory Wellness Space
(112) Grinnell School of Music
720 5th Avenue
Grinnell,IA50112 		88-3118049 501(c)(3) 10,000       Capital Campaign
(113) Cedar Basin Music Festival
1008 Erik Road
Cedar Falls,IA50613 		42-1423557 501(c)(3) 12,000       Cedar Basin Music Festival 2023
(114) No Foot Too Small
1150 5th Street Suite 152
Coralville,IA52241 		82-4301632 501(c)(3) 12,000       Support Angels in the Outfield
(115) Community Foundation of Johnson County Iowa
501 12th Ave
Coralville,IA52317 		42-1508117 501(c)(3) 12,500       North Liberty Centennial Park Next Stage Capital Campaign
(116) Variety - the Children's Charity
505 5th Avenue Suite 310
Des Moines,IA50309 		42-6077108 501(c)(3) 12,750       Multiple Events
(117) Englert Theatre
221 E Washington Street
Iowa City,IA52240 		42-1508154 501(c)(3) 13,000       Mission Creek Festival
(118) Catholic Worker Charitable Giving Fund
501 12th Ave Suite 102
Coralville,IA52241 		42-1508117 501(c)(3) 13,333       Refugee Resettlement and Immigrant Housing Project
(119) Iowa City Community School District Foundation
1725 N Dodge St
Iowa City,IA52245 		42-1177023 501(c)(3) 13,765       2023 Give & Grow School Match
(120) Zach Johnson Foundation
PO Box 2336
Cedar Rapids,IA52406 		27-2683100 501(c)(3) 15,000       Zach Johnson Foundation Classic & Gala
(121) Downtown Davenport Partnership a Division of the Quad Cities Chamber of Com
merce
331 W 3rd StSte 100
Davenport,IA52801 		27-3065786 501(c)(6) 15,000       Alternating Currents
(122) Waypoint Services For Women Children And Families
318 5th St SE
Cedar Rapids,IA52401 		42-0680307 501(c)(3) 15,000       Capital Campaign
(123) United Way of Central Iowa
1111 Ninth Street Suite 100
Des Moines,IA50314 		42-0680425 501(c)(3) 15,000       United Way Campaign 2023
(124) Iowa College Foundation
505 5th Avenue Suite 1034
Des Moines,IA50309 		42-0745995 501(c)(3) 15,000       ICF Annual Unrestricted Funding Request and DEI Opportunity Scholarship Challenge Program Request
(125) United Way of East Central Iowa
317 7th Ave Se Ste 401
Cedar Rapids,IA52401 		42-0861239 501(c)(3) 15,000       United Way Campaign 2023
(126) Junior Achievement of the Heartland
800 12th Avenue
Moline,IL61265 		42-0919209 501(c)(3) 15,000       JA Inspire Career Expo & JA Bowl-A-Thon
(127) Live Healthy Iowa
1421 S Bell AveSte 104
Ames,IA50010 		42-1278326 501(c)(3) 15,000       Grizzlies Youth Wheelchair Basketball Program
(128) Iowa City Downtown District
103 E College St
Iowa City,IA52240 		42-1376887 501(c)(6) 15,000       GreenState BenchMarks & IC Mural program
(129) Boys & Girls Club of the Corridor
420 6th Street SE Suite 240
Cedar Rapids,IA52401 		42-1434056 501(c)(3) 15,000       Unlocking the Future Campaign
(130) United Way of Johnson and Washington Counties
1150 5th Street Suite 290
Coralville,IA52241 		42-6062055 501(c)(3) 15,000       United Way Campaign 2023
(131) IWLC
415 12th Ave SE Suite 120
Cedar Rapids,IA52401 		45-2932668 501(c)(3) 15,000       2023 One Team Summit
(132) Regina FoundationRegina Catholic Education Center
2140 Rochester Avenue
Iowa City,IA52245 		51-0158837 501(c)(3) 15,000       2023 Annual funding Proposal
(133) Iowa Heartlanders
802 Quarry Road
Coralville,IA52240 		93-1655831 LLC 15,000       Iowa Heartlanders Partnership
(134) The Domestic Violence Intervention Program (DVIP)
1105 S Gilbert Court Ste 300
Iowa City,IA52240 		42-1124902 501(c)(3) 16,667       "Finding Safety, Building Hope''
(135) City of West Des Moines
4200 Mills Civic Parkway
West Des Moines,IA50265 		42-6005359 Government Entity 16,667       Historic West Des Moines Housing Fund
(136) Iowa Soccer Development Foundation
PO Box 434
Des Moines,IA50302 		84-4367003 501(c)(3) 16,667       Pro Iowa
(137) Holy Family Catholic Schools
2005 Kane Street
Dubuque,IA52001 		42-0792429 501(c)(3) 16,667       Platform for Excellence Capital Campaign
(138) Great Outdoors Foundation
501 SW 7th Street Suite G
Des Moines,IA50309 		42-1441098 501(c)(3) 16,667       Central Iowa Water Trails
(139) Coralville Community Food Pantry
1002 5th Street PO Box 5523
Coralville,IA52026 		47-3509757 501(c)(3) 16,667       Building Campaign
(140) Des Moines Arts Festival
PO Box 1434
Des Moines,IA50305 		42-1471969 501(c)(3) 20,000       Des Moines Arts Festival
(141) Matthew 25
201 3rd Ave SW
Cedar Rapids,IA52404 		26-0467321 501(c)(3) 25,000       Healthy Time Check
(142) River Bend Foodbank
4010 Kimmel Drive
Davenport,IA52802 		36-3147342 501(c)(3) 25,000       Expanding to End Hunger Capital Campaign
(143) Cedar Rapids Economic Alliance
501 1st Street Southeast
Cedar Rapids,IA52401 		42-0172900 501(c)(6) 25,000       Buy Local Programming
(144) Dental Connections Inc
1111 Ninth Street Suite 190
Des Moines,IA50314 		42-0680421 501(c)(3) 25,000       Smile Squad Mobile Dental Unit
(145) Cedar Rapids Community Schools Foundation
2500 Edgewood Road NW
Cedar Rapids,IA52405 		42-1197912 501(c)(3) 25,000       Professional Development Grants
(146) Cedar Rapids Freedom Festival
609 1st Ave SW Suite 102
Cedar Rapids,IA52404 		42-1329035 501(c)(3) 25,000       Celebration of Freedom Fireworks
(147) Iowa Health Foundation dba Blank Children's Hospital
1415 Woodland Avenue Suite E200
Des Moine,IA50309 		42-1467682 501(c)(3) 25,000       Rally Against Cancer - John Stoddard Cancer Center
(148) Special Olympics Iowa
551 SE Dovetail Rd PO Box 620
Grimes,IA50111 		52-0889518 501(c)(3) 25,000       Special Olympics Statewide Partner
(149) University of Iowa Center for Advancement
1 West Park Road
Iowa City,IA52240 		42-0796760 501(c)(3) 30,000       Carver Circle campaign - Iowa Wrestling training facility
(150) Iowa Children's Museum
1451 Coral Ridge Ave Suite 715
Coraville,IA52241 		42-1461422 501(c)(3) 30,000       Playing to Learn at The Iowa Children's Museum!
(151) West Des Moines Parks & Recreation
4200 Mills Civic Parkway
West Des Moines,IA50265 		42-6005359   30,000       MidAmerican RecPlex Field Sponsor
(152) Summer of the Arts Inc
319 E 1st Street
Iowa City,IA52240 		42-1412706 501(c)(3) 31,000       Iowa City Jazz Festival
(153) Iowa Coalition Against Domestic Violence
4725 Merle Hay Road 107
Des Moines,IA50322 		42-1285094 501(c)(3) 45,000       Survivors Achieving Financial Empowerment Program (SAFE)
(154) Hawkeye Sports Properties Learfield
1100 6th St Suite 102
Coralville,IA52241 		47-0911648   60,000       Kirks Kids
(155) University of Iowa Center for Advancement
1 West Park Road
Iowa City,IA52240 		42-0796760 501(c)(3) 75,000       UI Stead Family Children's Hospital: Extenuating Circumstances Fund
(156) Iowa City Community School District Foundation
1725 N Dodge St
Iowa City,IA52240 		42-1177023 501(c)(3) 83,333       School of the Wild
(157) GreenState Foundation
2355 Landon Rd
North Liberty,IA52317 		88-0616839 501(c)(3) 1,600,000       Various
2
Enter total number of section 501(c)(3) and government organizations listed in the line 1 table ................. Bullet Image
137
3
Enter total number of other organizations listed in the line 1 table ........................ . Bullet Image
18
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50055P
Schedule I (Form 990) 2023

Schedule I (Form 990) 2023
Page 2
Part III
Grants and Other Assistance to Domestic Individuals. Complete if the organization answered "Yes" on Form 990, Part IV, line 22.
Part III can be duplicated if additional space is needed.
(a) Type of grant or assistance (b) Number of
recipients		 (c) Amount of
cash grant		 (d) Amount of
noncash assistance		 (e) Method of valuation (book,
FMV, appraisal, other)		 (f) Description of noncash assistance
(1)
(2)
(3)
(4)
(5)
(6)
(7)
Part IV
Supplemental Information. Provide the information required in Part I, line 2; Part III, column (b); and any other additional information.
Return Reference Explanation
Schedule I, Part I, Line 2 GREENSTATE CREDIT UNION ISSUES ALL GRANT FUNDS DIRECTLY TO THE RECIPIENT ORGANIZATION FOR USE AT THEIR DISCRETION.
Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. Grant recipients apply for funding through the GreenState Credit Union website. Once grants are awarded, funds go directly to the recipient organization for use at their discretion.
Schedule I (Form 990) 2023



Additional Data


Software ID: 23017437
Software Version: 2023v5.0


Schedule J
(Form 990)
Department of the Treasury
Internal Revenue Service
Compensation Information
For certain Officers, Directors, Trustees, Key Employees, and Highest
Compensated Employees
medium right arrow graphic Complete if the organization answered "Yes" on Form 990, Part IV, line 23.
medium right arrow graphic Attach to Form 990.
medium right arrow graphic Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
2023
Open to Public Inspection
Name of the organization
GreenState Credit Union
 
Employer identification number

42-0804594
Part I
Questions Regarding Compensation
Yes
No
1a
Check the appropiate box(es) if the organization provided any of the following to or for a person listed on Form
990, Part VII, Section A, line 1a. Complete Part III to provide any relevant information regarding these items.
b
If any of the boxes on Line 1a are checked, did the organization follow a written policy regarding payment or reimbursement or provision of all of the expenses described above? If "No," complete Part III to explain .....
1b
Yes
 
2
Did the organization require substantiation prior to reimbursing or allowing expenses incurred by all
directors, trustees, officers, including the CEO/Executive Director, regarding the items checked on Line 1a? ....
2
Yes
 
3
Indicate which, if any, of the following the filing organization used to establish the compensation of the
organization's CEO/Executive Director. Check all that apply. Do not check any boxes for methods
used by a related organization to establish compensation of the CEO/Executive Director, but explain in Part III.
4
During the year, did any person listed on Form 990, Part VII, Section A, line 1a, with respect to the filing organization or a related organization:
a
Receive a severance payment or change-of-control payment? .............
4a
Yes
 
b
Participate in, or receive payment from, a supplemental nonqualified retirement plan? .........
4b
 
No
c
Participate in, or receive payment from, an equity-based compensation arrangement? .........
4c
 
No
If "Yes" to any of lines 4a-c, list the persons and provide the applicable amounts for each item in Part III.
Only 501(c)(3), 501(c)(4), and 501(c)(29) organizations must complete lines 5-9.
5
For persons listed on Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the revenues of:
a
The organization? ....................
5a
 
 
b
Any related organization? .......................
5b
 
 
If "Yes," on line 5a or 5b, describe in Part III.
6
For persons listed on Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the net earnings of:
a
The organization? ..................
6a
 
 
b
Any related organization? ......................
6b
 
 
If "Yes," on line 6a or 6b, describe in Part III.
7
For persons listed on Form 990, Part VII, Section A, line 1a, did the organization provide any nonfixed
payments not described in lines 5 and 6? If "Yes," describe in Part III ............
7
 
 
8
Were any amounts reported on Form 990, Part VII, paid or accured pursuant to a contract that was
subject to the initial contract exception described in Regulations section 53.4958-4(a)(3)? If "Yes," describe
in Part III ..........................
8
 
 
9
If "Yes" on line 8, did the organization also follow the rebuttable presumption procedure described in Regulations section 53.4958-6(c)? .........................
9
 
 
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50053T
Schedule J (Form 990) 2023

Schedule J (Form 990) 2023
Page 2
Part II
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees. Use duplicate copies if additional space is needed.
For each individual whose compensation must be reported on Schedule J, report compensation from the organization on row (i) and from related organizations, described in the
instructions, on row (ii). Do not list any individuals that are not listed on Form 990, Part VII.
Note. The sum of columns (B)(i)-(iii) for each listed individual must equal the total amount of Form 990, Part VII, Section A, line 1a, applicable column (D) and (E) amounts for that individual.
(A) Name and Title (B) Breakdown of W-2, 1099-MISC compensation, and/or 1099-NEC (C) Retirement and other deferred compensation (D) Nontaxable
benefits		 (E) Total of columns
(B)(i)-(D) 		(F) Compensation in column (B) reported as deferred on prior Form 990
(i) Base
compensation 		(ii) Bonus & incentive
compensation 		(iii) Other reportable compensation
1Todd Fanning
 
Interim CEO/CFO 		(i)

(ii)		 454,181
-------------
0 		294,217
-------------
0 		4,464
-------------
0 		30,000
-------------
0 		6,105
-------------
0 		788,967
-------------
0 		0
-------------
0
2Katherine Courtney
 
Chief Operating Officer 		(i)

(ii)		 464,423
-------------
0 		303,125
-------------
0 		1,710
-------------
0 		44,235
-------------
0 		0
-------------
0 		813,493
-------------
0 		0
-------------
0
3James Kelly
 
Chief Marketing Officer 		(i)

(ii)		 332,205
-------------
0 		190,306
-------------
0 		1,242
-------------
0 		23,266
-------------
0 		9,019
-------------
0 		556,038
-------------
0 		0
-------------
0
4Samantha McSorley
 
Chief Commerical Officer 		(i)

(ii)		 334,897
-------------
0 		176,320
-------------
0 		1,386
-------------
0 		6,231
-------------
0 		0
-------------
0 		518,834
-------------
0 		0
-------------
0
5Ryan Doehrmann
 
Chief Mortgage Officer 		(i)

(ii)		 296,744
-------------
0 		161,733
-------------
0 		885
-------------
0 		0
-------------
0 		10,463
-------------
0 		469,825
-------------
0 		0
-------------
0
6Scott Taylor
 
Interim Chief Information Technology 		(i)

(ii)		 277,420
-------------
0 		600
-------------
0 		1,242
-------------
0 		30,000
-------------
0 		0
-------------
0 		309,262
-------------
0 		0
-------------
0
7Heather Stumpf
 
Interim CFO 		(i)

(ii)		 272,991
-------------
0 		250
-------------
0 		1,440
-------------
0 		0
-------------
0 		4,429
-------------
0 		279,110
-------------
0 		0
-------------
0
8Amy Henderson
 
Chief Consumer Service Officer (Left 09/2023) 		(i)

(ii)		 230,347
-------------
0 		250
-------------
0 		638,431
-------------
0 		38,483
-------------
0 		48,135
-------------
0 		955,646
-------------
0 		0
-------------
0
9Jeffrey Disterhoft
 
President & CEO (Left 09/2023) 		(i)

(ii)		 591,911
-------------
0 		0
-------------
0 		18,497
-------------
0 		52,500
-------------
0 		7,854
-------------
0 		670,762
-------------
0 		0
-------------
0
10Marsha Wolff
 
Chief HR & Information Officer (Left 09/2023) 		(i)

(ii)		 381,272
-------------
0 		500
-------------
0 		600,623
-------------
0 		33,721
-------------
0 		7,646
-------------
0 		1,023,762
-------------
0 		0
-------------
0
11Felisha Junge
 
VP/Mortgage Loan Officer 		(i)

(ii)		 107,413
-------------
0 		439,133
-------------
0 		919
-------------
0 		0
-------------
0 		8,705
-------------
0 		556,170
-------------
0 		0
-------------
0
12Daryn Peterson
 
VP/Mortgage Lending 		(i)

(ii)		 52,000
-------------
0 		954,108
-------------
0 		927
-------------
0 		22,500
-------------
0 		0
-------------
0 		1,029,535
-------------
0 		0
-------------
0
13Eric Norman
 
VP/Mortgage Lending 		(i)

(ii)		 96,154
-------------
0 		574,195
-------------
0 		1,099
-------------
0 		30,000
-------------
0 		0
-------------
0 		701,448
-------------
0 		0
-------------
0
14Peter Johnson
 
VP/Mortgage Loan Officer 		(i)

(ii)		 41,537
-------------
0 		401,621
-------------
0 		927
-------------
0 		22,500
-------------
0 		10,463
-------------
0 		477,048
-------------
0 		0
-------------
0
15Tyler Knudsvig
 
Commercial Services Loan Officer VP 		(i)

(ii)		 123,503
-------------
0 		169,067
-------------
0 		144,018
-------------
0 		22,500
-------------
0 		3,919
-------------
0 		463,007
-------------
0 		0
-------------
0
Schedule J (Form 990) 2023

Schedule J (Form 990) 2023
Page 3
Part III
Supplemental Information
Provide the information, explanation, or descriptions required for Part I, lines 1a, 1b, 3, 4a, 4b, 4c, 5a, 5b, 6a, 6b, 7, and 8, and for Part II. Also complete this part for any additional information.
Return Reference Explanation
Schedule J, Part I, Line 1a Travel for companions The board of directors policy along with the contract for the President/CEO allow spouses to travel on business trips. Any expense related to travel companions is treated as taxable income and included in reportable compensation in Part VII and Schedule J.
Schedule J, Part I, Line 1a Health or social club dues or initiation fees In tax year 2023, GreenState Credit Union provided social club dues to Jeffrey A Disterhoft. The amount is included in reportable compensation in Part VII and Schedule J.
Schedule J, Part I, Line 3 GreenState CU made severance payments to the following individuals who left in September 2023: Marsha Wolff - $600,000 Amy Henderson - $590,558
Schedule J (Form 990) 2023

Additional Data


Software ID: 23017437
Software Version: 2023v5.0
Schedule L
(Form 990)
Department of the Treasury
Internal Revenue Service
Transactions with Interested Persons
Complete if the organization answered "Yes" on Form 990, Part IV, lines 25a, 25b, 26, 27, 28a, 28b, or 28c, or Form 990-EZ, Part V, line 38a or 40b.
Attach to Form 990 or Form 990-EZ.
Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
2023
Open to Public Inspection
Name of the organization
GreenState Credit Union
 
Employer identification number

42-0804594
Part I
Excess Benefit Transactions (section 501(c)(3), section 501(c)(4), and section 501(c)(29) organizations only).
Complete if the organization answered "Yes" on Form 990, Part IV, line 25a or 25b, or Form 990-EZ, Part V, line 40b.
1(a) Name of disqualified person (b) Relationship between disqualified person and organization (c) Description of transaction (d) Corrected?
Yes No
2
Enter the amount of tax incurred by the organization managers or disqualified persons during the year under section 4958. ........................... $
 
3
Enter the amount of tax, if any, on line 2, above, reimbursed by the organization ........ $
 

Part II
Loans to and/or From Interested Persons.
Complete if the organization answered "Yes" on Form 990-EZ, Part V, line 38a, or Form 990, Part IV, line 26; or if the organization reported an amount on Form 990, Part X, line 5, 6, or 22
(a) Name of interested person (b) Relationship with organization (c) Purpose of loan (d) Loan to or from the organization? (e) Original principal amount (f) Balance due (g) In default? (h) Approved by board or committee? (i) Written agreement?
To From Yes No Yes No Yes No
(1) Jeffrey Disterhoft
  		Retired CEO Split Dollar Life Insurance Policy   X 14,643,612 17,582,520   No Yes   Yes  
Total ............... $ 17,582,520
Part III
Grants or Assistance Benefiting Interested Persons.
Complete if the organization answered "Yes" on Form 990, Part IV, line 27.
(a) Name of interested person (b) Relationship between interested person and the organization (c) Amount of assistance (d) Type of assistance (e) Purpose of assistance
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 50056A
Schedule L (Form 990) 2023
Schedule L (Form 990) 2023
Page 2
Part IV
Business Transactions Involving Interested Persons.
Complete if the organization answered "Yes" on Form 990, Part IV, line 28a, 28b, or 28c.
(a) Name of interested person (b) Relationship between interested person and the organization (c) Amount of transaction (d) Description of transaction (e) Sharing of organization's revenues?
Yes No
Part V
Supplemental Information
Provide additional information for responses to questions on Schedule L (see instructions).
Return Reference Explanation
Schedule L (Form 990) 2023


Additional Data


Software ID: 23017437
Software Version: 2023v5.0




SCHEDULE O
(Form 990)

Department of the Treasury
Internal Revenue Service
Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
Attach to Form 990 or 990-EZ.
 Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
2023
Open to Public
Inspection
Name of the organization
GreenState Credit Union
 
Employer identification number

42-0804594
Return Reference Explanation
Form 990, Part VI, Line 6 Classes of members or stockholders GreenState Credit Union does have members as specified by their bylaws.
Form 990, Part VI, Line 7a Members or stockholders electing members of governing body The members of the board of directors are elected by the membership. Members may vote electronically or in person at a branch prior to the annual meeting.
Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders There are five situations for state-chartered credit unions in Iowa to which membership vote is required for approval: * Charter conversion * Voluntary Dissolution * Amending or Reversing an act of the board of directors * Mergers * Removal or reinstatement of an officer, director or member of the auditing committee
Form 990, Part VI, Line 11b Review of form 990 by governing body The organization's governing body is provided an electronic copy of the form 990 prior to filing. The form 990 will be reviewed by the Organization's CFO and Controller.
Form 990, Part VI, Line 12c Conflict of interest policy A director shall promptly disclose to the board any known interest, relationship or responsibility (financial, professional or otherwise) held by the Director, any member of his or her immediate family or any of his or her business associates with respect to any potential or actual transaction, agreement or other matter which is or may be presented to the board for consideration, even if such interest, relationship or responsibility has otherwise been generally been disclosed to the board. In addition, directors must disclose information regarding their financial interests in organizations doing business with the Credit Union. The conflict-of-interest statement is required to be completed annually. For any potential conflict, the board with the abstention of the interested director, may decide whether such director may participate in any reporting, discussion or vote on the issue that gave rise to the potential conflict. The board shall withhold any information on such issues from the board materials distributed to the applicable director and take all such other action necessary to the applicable director and take all such other action necessary to effectuate this policy. If a majority of the directors who have no direct or indirect interest in the transaction vote to authorize, approve or ratify the transaction, a quorum is present for the purpose of taking such action. Any director with such an interest, relationship or responsibility which conflicts or potentially conflicts with the interest of the credit union, shall recuse himself or herself from any reporting, discussions and vote on the issue that gave rise to the conflict and, if necessary, from the board meeting or applicable part thereof.
Form 990, Part VI, Line 15a Process to establish compensation of top management official The compensation committee is appointed by GreenState Credit Union's (GSCU) board of directors (the "board") to discharge the board's responsibilities relating to compensation of the credit union's executive staff. The committee has overall responsibility for approving and evaluating the President/CEO compensation, benefit and perquisite plans, policies and programs of the credit union. The compensation committee is also responsible for producing an annual report on executive compensation for review by the entire board. The compensation committee shall consist of three to four members of the board. The board will designate one member of the compensation committee as its chairperson. The compensation committee shall have the authority to retain and terminate any compensation consultant assisting in the compensation evaluation of the President/CEO and shall have authority to approve the consultant's fees and other retention terms. The compensation committee shall also have authority to obtain advice and assistance from internal or external legal, accounting or other advisors. Top management team members' compensation levels are determined by the CEO using the same methodology used by other supervisors at the credit union - to ensure that employee reviews are properly conducted in a timely manner, and pay rates are properly authorized by the appropriate management. Procedures for determining hourly pay are reviewed and determined by the human resource executive. A salary administration plan and job position scoring system is used by the credit union. Supervisors review and update job descriptions every two years or more frequently as job responsibilities change or new positions are created. Positions are scored and annually updated to reflect the labor market both geographically and industry wide to ensure ranges are internally consistent, externally competitive and responsive to changes in economic conditions. The salary scale for each position has a minimum, midpoint, and maximum salary. The Credit Unions base salary levels are targeted at or above market levels, so they can best attract and retain the highest quality employees. The credit union adjusts its salary scale yearly for each position so that the midpoint of each range, when combined with incentive opportunities, approximates 75% compensation for the position. The process takes place annually and was last performed in January, 2023.
Form 990, Part VI, Line 15b Process to establish compensation of other employees The following positions are reviewed by the board appointed compensation committee: President/CEO Top Management positions reviewed by the CEO include: Chief Financial Officer Chief Operating Officer Chief Marketing Officer Chief Commercial Officer Chief Mortgage Officer Chief Information Technology Officer Chief Legal Officer Corporate Oversight/Compliance & Risk
Form 990, Part VI, Line 19 Required documents available to the public The organization's governing documents, conflict of interest policy, and financial statements are made available to the public on the organization's website (www.greenstate.org).
Form 990, Part VIII, Line 11d Other Miscellaneous Revenue - Total Revenue: , Related or Exempt Function Revenue: , Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ;
Form 990, Part XI, Line 9 Other changes in net assets or fund balances CECL ADJUSTMENT (ASC 326) - -41101413;
FORM 990, PART XII, LINE 2C: THE OVERSIGHT AND SELECTION PROCESS HAS NOT CHANGED FROM THE PRIOR TAX YEAR.
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990) 2023


Additional Data


Software ID: 23017437
Software Version: 2023v5.0
SCHEDULE R
(Form 990)
Department of the Treasury
Internal Revenue Service
Related Organizations and Unrelated Partnerships
Complete if the organization answered "Yes" on Form 990, Part IV, line 33, 34, 35b, 36, or 37.
Attach to Form 990.
Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047
2023
Open to Public Inspection
Name of the organization
GreenState Credit Union
 
Employer identification number

42-0804594
Part I
Identification of Disregarded Entities. Complete if the organization answered "Yes" on Form 990, Part IV, line 33.
(a)
Name, address, and EIN (if applicable) of disregarded entity


(b)
Primary activity


 		(c)
Legal domicile (state
or foreign country)

 		(d)
Total income


 		(e)
End-of-year assets


 		(f)
Direct controlling
entity
(1) GreenState Financial LLC
2355 Landon Rd
North Liberty,IA52317
27-4335678 		CUSO Activity IA 5,376,297 42,339,407 GreenState Credit Union
 
(2) GreenState Insurance Services LLC
2355 Landon Rd
North Liberty,IA52317
46-3811338 		Insurance Services IA 1,668,826 9,170,863 GreenState Financial
 
(3) GreenState Trust Services
2355 Landon Rd
North Liberty,IA52317
84-3860120 		Trust Services IA 129,994 496,458 GreenState Financial
 
(4) GreenState Loan Servicing
2355 Landon Rd
North Liberty,IA52317
88-1134445 		Loan Originations IA 3,556,407 173,014,600 GreenState Financial
 




Part II
Identification of Related Tax-Exempt Organizations. Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related tax-exempt organizations during the tax year.
(a)
Name, address, and EIN of related organization


(b)
Primary activity


 		(c)
Legal domicile (state
or foreign country)

 		(d)
Exempt Code section


 		(e)
Public charity status
(if section 501(c)(3))

 		(f)
Direct controlling
entity

 		(g)
Section 512(b)(13) controlled entity?
Yes No












For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50135Y
Schedule R (Form 990) 2023
Schedule R (Form 990) 2023
Page 2
Part III
Identification of Related Organizations Taxable as a Partnership. Complete if the organization answered "Yes" on Form 990, Part IV, line 34, because it had one or more related organizations treated as a partnership during the tax year.
(a)
Name, address, and EIN of
related organization



 		(b)
Primary activity




 		(c)
Legal
domicile
(state or foreign
country)


 		(d)
Direct controlling
entity



 		(e)
Predominant income(related, unrelated, excluded from tax under sections 512-514)

(f)
Share of total income




 		(g)
Share of end-of-year
assets



 		(h)
Disproprtionate allocations?




 		(i)
Code V-UBI
amount in box 20 of
Schedule K-1
(Form 1065)
 		(j)
General or
managing
partner?



 		(k)
Percentage
ownership
Yes No Yes No












Part IV
Identification of Related Organizations Taxable as a Corporation or Trust. Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related organizations treated as a corporation or trust during the tax year.
(a)
Name, address, and EIN of
related organization
 		(b)
Primary activity
 		(c)
Legal
domicile
(state or foreign
country)
 		(d)
Direct controlling
entity
 		(e)
Type of entity
(C corp, S corp,
or trust) 		(f)
Share of total income
 		(g)
Share of end-of-year
assets
 		(h)
Percentage
ownership
 		(i)
Section 512(b)(13) controlled entity?
Yes No












Schedule R (Form 990) 2023
Schedule R (Form 990) 2023
Page 3
Part V
Transactions With Related Organizations. Complete if the organization answered "Yes" on Form 990, Part IV, line 34, 35b, or 36.
Note. Complete line 1 if any entity is listed in Parts II, III, or IV of this schedule.
Yes
No
1 During the tax year, did the orgranization engage in any of the following transactions with one or more related organizations listed in Parts II-IV?
a Receipt of (i) interest, (ii) annuities, (iii) royalties, or (iv) rent from a controlled entity .....................
1a
 
 
b Gift, grant, or capital contribution to related organization(s) ............................
1b
 
 
c Gift, grant, or capital contribution from related organization(s) ............................
1c
 
 
d Loans or loan guarantees to or for related organization(s) ............................
1d
 
 
e Loans or loan guarantees by related organization(s) ............................
1e
 
 
f Dividends from related organization(s) ............................
1f
 
 
g Sale of assets to related organization(s) ............................
1g
 
 
h Purchase of assets from related organization(s) ............................
1h
 
 
i Exchange of assets with related organization(s) ............................
1i
 
 
j Lease of facilities, equipment, or other assets to related organization(s) .......................
1j
 
 
k Lease of facilities, equipment, or other assets from related organization(s) ......................
1k
 
 
l Performance of services or membership or fundraising solicitations for related organization(s) .....................
1l
 
 
m Performance of services or membership or fundraising solicitations by related organization(s) .................
1m
 
 
n Sharing of facilities, equipment, mailing lists, or other assets with related organization(s) ...................
1n
 
 
o Sharing of paid employees with related organization(s) ............................
1o
 
 
p Reimbursement paid to related organization(s) for expenses ............................
1p
 
 
q Reimbursement paid by related organization(s) for expenses ............................
1q
 
 
r Other transfer of cash or property to related organization(s) ............................
1r
 
 
s Other transfer of cash or property from related organization(s) ............................
1s
 
 
2
If the answer to any of the above is "Yes," see the instructions for information on who must complete this line, including covered relationships and transaction thresholds.
(a)
Name of related organization 		(b)
Transaction
type (a-s) 		(c)
Amount involved 		(d)
Method of determining amount involved





Schedule R (Form 990) 2023
Schedule R (Form 990) 2023
Page 4
Part VI
Unrelated Organizations Taxable as a Partnership. Complete if the organization answered "Yes" on Form 990, Part IV, line 37.
Provide the following information for each entity taxed as a partnership through which the organization conducted more than five percent of its activities (measured by total assets or gross revenue) that was not a related organization. See instructions regarding exclusion for certain investment partnerships.
(a)
Name, address, and EIN of entity 		(b)
Primary activity 		(c)
Legal domicile
(state or foreign
country) 		(d)
Predominant income (related, unrelated, excluded from tax under sections 512-514)

(e)
Are all partners
section
501(c)(3)
organizations? 		(f)
Share of total income




 		(g)
Share of
end-of-year
assets 		(h)
Disproprtionate allocations? 		(i)
Code V-UBI
amount in box 20
of Schedule K-1
(Form 1065) 		(j)
General or
managing
partner? 		(k)
Percentage
ownership
Yes No Yes No Yes No






























Schedule R (Form 990) 2023
Schedule R (Form 990) 2023
Page 5
Part VII
Supplemental Information
Provide additional information for responses to questions on Schedule R. See instructions.
Return Reference Explanation
Schedule R (Form 990) 2023

Additional Data


Software ID: 23017437
Software Version: 2023v5.0