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Credit Unions Chartered In The State Of Michigan

Sovita Credit Union

Organization summary

Type of Nonprofit

Designated as a State-chartered credit unions and mutual reserve funds.

Donations to this organization are not tax deductible.

Summary charts: organization finances over time

Revenue
$18.3M (2023)

Expenses
$12.8M (2023)

Total Assets
$508M (2023)

Total Liabilities
$445M (2023)

Source: Form 990 tax filings from 2011 to 2023

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Dec.
2023

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$18,274,970
Expenses
$12,774,373
Net Income
$5,500,597
Net Assets
$63,630,901
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $8,685,209
47.5%
Investment Income $9,564,103
52.3%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $25,658
0.1%
Notable Expenses Percent of Total Expenses
Executive Compensation $584,324
4.6%
Professional Fundraising Fees $0
Other Salaries and Wages $3,214,450
25.2%
Assets/Debt
Total Assets $508,496,724
Total Liabilities $444,865,823
Net Assets $63,630,901
Compensation
Key Employees and Officers Compensation Related Other
Patrick White (Ceo) $318,240 $0 $26,519
Daniel Fondren (Vice President Of Finance) $165,940 $0 $49,543
Michael Furst (Vice President Of Lending) $162,220 $0 $6,490
Jill Kruyer (Vice President Of Mem Serv) $161,044 $0 $74,286
Patrick Hagedorn (Coo/Board Secretary) $24,082 $0 $0
Jeffrey Clothier (Board Member) $0 $0 $0
Patricia R Gooch (Board President) $0 $0 $0
Sam Paraschos (Board Vice President) $0 $0 $0
Joseph Eufinger (Board Treasurer) $0 $0 $0
Andre Weathers (Board Member) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2022

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$13,885,121
Expenses
$10,361,055
Net Income
$3,524,066
Net Assets
$51,977,807
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $7,419,632
53.4%
Investment Income $6,425,680
46.3%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $39,809
0.3%
Notable Expenses Percent of Total Expenses
Executive Compensation $593,521
5.7%
Professional Fundraising Fees $0
Other Salaries and Wages $3,091,647
29.8%
Assets/Debt
Total Assets $520,943,774
Total Liabilities $468,965,967
Net Assets $51,977,807
Compensation
Key Employees and Officers Compensation Related Other
Patrick White (Ceo & Board Member) $308,303 $0 $37,062
Daniel Fondren (Vice President Of Finance) $160,497 $0 $57,298
Michael Furst (Vice President Of Lending) $156,822 $0 $6,752
Jill Kruyer (Vice President Of Mem Serv) $154,570 $0 $84,112
Patrick Hagedorn (Coo/Board Secretary) $30,361 $0 $0
Jeffrey Clothier (Board Member) $0 $0 $0
Patricia R Gooch (Board President) $0 $0 $0
Sam Paraschos (Board Vice President) $0 $0 $0
Joseph Eufinger (Board Treasurer) $0 $0 $0
Andre Weathers (Board Member) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2021

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$11,610,983
Expenses
$10,103,756
Net Income
$1,507,227
Net Assets
$70,864,580
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $7,073,545
60.9%
Investment Income $4,492,781
38.7%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $44,657
0.4%
Notable Expenses Percent of Total Expenses
Executive Compensation $637,687
6.3%
Professional Fundraising Fees $0
Other Salaries and Wages $2,763,580
27.4%
Assets/Debt
Total Assets $540,162,677
Total Liabilities $469,298,097
Net Assets $70,864,580
Compensation
Key Employees and Officers Compensation Related Other
Patrick White (Ceo & Board Member) $267,644 $0 $143,126
Daniel Fondren (Vice President Of Mem Serv) $138,409 $0 $49,130
Jill Kruyer (Vice President Of Lending) $134,942 $0 $66,504
Michael Furst (Vice President Of Lending) $117,000 $0 $566
Patrick Hagedorn (Coo/Board Secretary) $39,378 $0 $0
Jeffrey Clothier (Board Member) $0 $0 $0
Patricia R Gooch (Board President) $0 $0 $0
Sam Paraschos (Board Vice President) $0 $0 $0
Sidney Decou (Board Member) $0 $0 $0
Joseph Eufinger (Board Treasurer) $0 $0 $0
Michael Vance (Board Member) $0 $0 $0
Andre Weathers (Board Member) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2020

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$12,779,014
Expenses
$10,836,202
Net Income
$1,942,812
Net Assets
$74,161,060
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $6,998,426
54.8%
Investment Income $5,738,202
44.9%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $42,386
0.3%
Notable Expenses Percent of Total Expenses
Executive Compensation $607,609
5.6%
Professional Fundraising Fees $0
Other Salaries and Wages $2,853,447
26.3%
Assets/Debt
Total Assets $504,085,579
Total Liabilities $429,924,519
Net Assets $74,161,060
Compensation
Key Employees and Officers Compensation Related Other
Patrick White (Ceo & Board Member) $281,772 $0 $152,124
Daniel Fondren (Vice President Of Mem Serv) $136,934 $0 $38,904
Jill Kruyer (Vice President Of Lending) $132,182 $0 $53,736
Jamie Tovarez (Vice President Of Finance) $103,277 $0 $4,697
Patrick Hagedorn (Coo/Board Member) $65,739 $0 $0
Patricia R Gooch (Board President) $0 $0 $0
Sam Paraschos (Board Vice President) $0 $0 $0
Sidney Decou (Board Secretary) $0 $0 $0
Joseph Eufinger (Board Treasurer) $0 $0 $0
Michael Vance (Board Member) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2019

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$14,803,285
Expenses
$11,582,342
Net Income
$3,220,943
Net Assets
$68,303,076
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $7,643,546
51.6%
Investment Income $7,073,455
47.8%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $47,312
0.3%
Net Inventory Sales $0
Other Revenue $38,972
0.3%
Notable Expenses Percent of Total Expenses
Executive Compensation $403,875
3.5%
Professional Fundraising Fees $0
Other Salaries and Wages $2,981,860
25.7%
Assets/Debt
Total Assets $436,080,346
Total Liabilities $367,777,270
Net Assets $68,303,076
Compensation
Key Employees and Officers Compensation Related Other
Patrick White (Ceo & Board Member) $242,238 $0 $100,912
Daniel Fondren (Vice President Of Mem Serv) $111,772 $0 $31,060
Jill Kruyer (Vice President Of Lending) $109,871 $0 $39,275
Jamie Tovarez (Vice President Of Finance) $33,937 $0 $0
Bryanna Benoit (Coo) $24,625 $0 $2,163
Patricia R Gooch (Board President) $0 $0 $0
Sam Paraschos (Board Vice President) $0 $0 $0
Sidney Decou (Board Secretary) $0 $0 $0
John Clothier (Board Treasurer) $0 $0 $0
Joseph Eufinger (Board Member) $0 $0 $0
Michael Vance (Board Member) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2018

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$13,522,370
Expenses
$10,721,525
Net Income
$2,800,845
Net Assets
$60,341,980
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $7,439,541
55.0%
Investment Income $6,043,021
44.7%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $39,808
0.3%
Notable Expenses Percent of Total Expenses
Executive Compensation $487,844
4.6%
Professional Fundraising Fees $0
Other Salaries and Wages $2,858,103
26.7%
Assets/Debt
Total Assets $409,248,405
Total Liabilities $348,906,425
Net Assets $60,341,980

Document Links

Fiscal Year Ending Dec.
2017

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$11,604,160
Expenses
$8,594,277
Net Income
$3,009,883
Net Assets
$59,241,474
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $6,604,184
56.9%
Investment Income $4,961,452
42.8%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $38,524
0.3%
Notable Expenses Percent of Total Expenses
Executive Compensation $681,145
7.9%
Professional Fundraising Fees $0
Other Salaries and Wages $2,296,046
26.7%
Assets/Debt
Total Assets $404,291,828
Total Liabilities $345,050,354
Net Assets $59,241,474
Compensation
Key Employees and Officers Compensation Related Other
Patrick J White (Gen'l Mgr/Ceo/Board Member) $204,731 $0 $99,849
Patrick J Hagedorn (Coo) $200,335 $0 $2,972
Bryanna Tapley (Vice President Operations) $160,378 $0 $12,880
David Green (Vp Of Retail Services) $102,820 $0 $29,236
Patricia R Gooch (Board President) $0 $0 $0
Sam Paraschos (Board Vice President) $0 $0 $0
John N Clothier (Board Treasurer) $0 $0 $0
Sidney J Decou (Board Secretary) $0 $0 $0
Joseph A Eufinger (Board Member) $0 $0 $0
Michael Vance (Board Member) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2016

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$10,699,944
Expenses
$8,204,959
Net Income
$2,494,985
Net Assets
$58,153,794
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $6,079,907
56.8%
Investment Income $4,556,497
42.6%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $14,678
0.1%
Net Inventory Sales $0
Other Revenue $48,862
0.5%
Notable Expenses Percent of Total Expenses
Executive Compensation $643,334
7.8%
Professional Fundraising Fees $0
Other Salaries and Wages $2,255,157
27.5%
Assets/Debt
Total Assets $395,417,245
Total Liabilities $337,263,451
Net Assets $58,153,794
Compensation
Key Employees and Officers Compensation Related Other
Patrick J White (Gen'l Mgr/Ceo/Board Member) $200,714 $0 $75,647
Patrick J Hagedorn (Coo) $169,486 $0 $39,623
Bryanna Tapley (Vice President Operations) $145,674 $0 $12,190
Patricia R Gooch (Board President) $0 $0 $0
Sam Paraschos (Board Vice President) $0 $0 $0
John N Clothier (Board Treasurer) $0 $0 $0
Sidney J Decou (Board Secretary) $0 $0 $0
Joseph A Eufinger (Board Member) $0 $0 $0
Michael Vance (Board Member) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2015

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$12,432,859
Expenses
$10,065,168
Net Income
$2,367,691
Net Assets
$55,819,724
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $5,919,043
47.6%
Investment Income $4,439,493
35.7%
Bond Proceeds $0
Royalties $0
Rental Property Income -$2,973
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $2,077,296
16.7%
Notable Expenses Percent of Total Expenses
Executive Compensation $591,085
5.9%
Professional Fundraising Fees $0
Other Salaries and Wages $2,242,753
22.3%
Assets/Debt
Total Assets $381,872,139
Total Liabilities $326,052,415
Net Assets $55,819,724
Compensation
Key Employees and Officers Compensation Related Other
Patrick J White (Gen'l Mgr/Ceo/Board Member) $196,386 $0 $49,891
Patrick J Hagedorn (Asst. General Manager/Coo) $167,424 $0 $33,315
Bryanna Tapley (Vice President Operations) $132,433 $0 $11,636
Patricia R Gooch (Board President) $0 $0 $0
Sam Paraschos (Board Vice President) $0 $0 $0
John N Clothier (Board Treasurer) $0 $0 $0
Sidney J Decou (Board Secretary) $0 $0 $0
Joseph A Eufinger (Board Member) $0 $0 $0
Kenneth M Green Died In 2015 (Board Member Emeritus) $0 $0 $0
Michael Vance (Board Member) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2014

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$9,153,229
Expenses
$7,454,514
Net Income
$1,698,715
Net Assets
$52,850,877
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $5,126,921
56.0%
Investment Income $3,936,972
43.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $44,932
0.5%
Net Inventory Sales $0
Other Revenue $44,404
0.5%
Notable Expenses Percent of Total Expenses
Executive Compensation $548,802
7.4%
Professional Fundraising Fees $0
Other Salaries and Wages $2,094,967
28.1%
Assets/Debt
Total Assets $368,730,886
Total Liabilities $315,880,009
Net Assets $52,850,877
Compensation
Key Employees and Officers Compensation Related Other
Patrick J White (Gen'l Mgr/Ceo/Board Member) $193,100 $0 $40,048
Patrick J Hagedorn (Asst. General Manager/Coo) $162,889 $0 $24,576
Bryanna Tapley (Vice President Operations) $118,259 $0 $9,930
Patricia R Gooch (Board President) $0 $0 $0
Sam Paraschos (Board Vice President) $0 $0 $0
John N Clothier (Board Treasurer) $0 $0 $0
Sidney J Decou (Board Secretary) $0 $0 $0
Joseph A Eufinger (Board Member) $0 $0 $0
Kenneth M Green (Board Member Emeritus) $0 $0 $0
Michael Vance (Board Member) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2013

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$8,714,044
Expenses
$7,530,133
Net Income
$1,183,911
Net Assets
$51,481,908
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $4,918,294
56.4%
Investment Income $3,765,580
43.2%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $30,170
0.3%
Notable Expenses Percent of Total Expenses
Executive Compensation $382,832
5.1%
Professional Fundraising Fees $0
Other Salaries and Wages $2,035,682
27.0%
Assets/Debt
Total Assets $363,474,516
Total Liabilities $311,992,608
Net Assets $51,481,908
Compensation
Key Employees and Officers Compensation Related Other
Patrick J White (Gen'l Mgr/Ceo/Board Member) $181,204 $0 $26,414
Patrick J Hagedorn (Assistant General Manager/Coo) $152,259 $0 $22,955
Patricia R Gooch (Board President) $0 $0 $0
Sam Paraschos (Board Vice President) $0 $0 $0
John N Clothier (Board Treasurer) $0 $0 $0
James H Bracy (Board Member (Left 02/2013)) $0 $0 $0
Sidney J Decou (Board Secretary) $0 $0 $0
Joseph A Eufinger (Board Member) $0 $0 $0
Kenneth M Green (Board Member Emeritus) $0 $0 $0
Michael Vance (Board Member) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2012

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$9,088,784
Expenses
$8,054,520
Net Income
$1,034,264
Net Assets
$49,427,632
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $4,776,760
52.6%
Investment Income $4,313,952
47.5%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets -$1,928
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $414,308
5.1%
Professional Fundraising Fees $0
Other Salaries and Wages $2,122,218
26.3%
Assets/Debt
Total Assets $336,528,478
Total Liabilities $287,100,846
Net Assets $49,427,632

Document Links

Fiscal Year Ending Dec.
2011

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$9,879,957
Expenses
$8,624,480
Net Income
$1,255,477
Net Assets
$48,705,395
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $4,751,180
48.1%
Investment Income $5,117,516
51.8%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $11,261
0.1%
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $397,150
4.6%
Professional Fundraising Fees $0
Other Salaries and Wages $2,164,872
25.1%
Assets/Debt
Total Assets $327,144,529
Total Liabilities $278,439,134
Net Assets $48,705,395

Document Links

Fiscal Year Ending Dec.
2010

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2009

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2008

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2007

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2006

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

About This Data

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

In addition to the raw summary data, we link to PDFs and digital copies of full Form 990 documents wherever possible. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly.

We also link to copies of audits nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year since 2016. These audits are copied from the Federal Audit Clearinghouse.

Which Organizations Are Here?

Every organization that has been recognized as tax exempt by the IRS has to file Form 990 every year, unless they make less than $200,000 in revenue and have less than $500,000 in assets, in which case they have to file form 990-EZ. Organizations making less than $50,000 don’t have to file either form but do have to let the IRS they’re still in business via a Form 990N "e-Postcard."

Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

Types of Nonprofits

There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. See the list »

Get the Data

For those interested in acquiring the original data from the source, here’s where our data comes from:

  • Raw filing data. Includes EINs and summary financials as structured data.
  • Exempt Organization profiles. Includes organization names, addresses, etc. You can merge this with the raw filing data using EIN numbers.
  • Form 990 documents. Prior to 2017, these documents were obtained and processed by Public.Resource.org and ProPublica. Bulk PDF downloads since 2017 are available from the IRS.
  • Form 990 documents as XML files. Includes complete filing data (financial details, names of officers, tax schedules, etc.) in machine-readable format. Only available for electronically filed documents. Electronic data released prior to October 2021 is also available through Amazon Web Services.
  • Audits. PDFs of single or program-specific audits for nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year. Available for fiscal year 2015 and later.

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