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Credit Unions Chartered In The State Of Michigan

48 Lake Michigan 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.

Details

According to its Dec. 2023 tax filing, this nonprofit:

Provided first-class or charter travel
Organization provided first-class or charter travel to key employees or officers. Details are reported on Schedule J.
Reported conflict of interest transactions
Organizations must report loans, grants or business transactions with interested parties, which may include key employees and officers, their family members and any businesses in which they hold a controlling interest. These transactions must be reported on Schedule L.

Summary charts: organization finances over time

Revenue
$692M (2023)

Expenses
$520M (2023)

Total Assets
$13.4B (2023)

Total Liabilities
$12B (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
$692,047,277
Expenses
$519,826,803
Net Income
$172,220,474
Net Assets
$1,380,616,229
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $639,865,963
92.5%
Investment Income $35,730,234
5.2%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $16,451,080
2.4%
Notable Expenses Percent of Total Expenses
Executive Compensation $6,365,699
1.2%
Professional Fundraising Fees $0
Other Salaries and Wages $118,919,210
22.9%
Assets/Debt
Total Assets $13,371,002,258
Total Liabilities $11,990,386,029
Net Assets $1,380,616,229
Other
Provided first-class or charter travel
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Sandy Jelinski (Ceo) $2,817,720 $0 $73,268
Matt Adler (Mortgage Lo) $1,002,760 $0 $39,428
Roy Hellwege (President Ce) $998,755 $0 $41,371
Zac Ellerbroek (Mortgage Lo) $947,179 $0 $10,128
Eric Burgoon (Svp Mortgage) $775,086 $0 $71,063
Emil Izrailov (Mortgage Sal) $611,984 $0 $32,977
Corbin Buttleman (Vp Mortgage) $609,058 $0 $49,977
Peter Dann (Evp Cfo) $601,528 $0 $50,027
Razi Qadri (Svp Cioo) $569,922 $0 $42,337
Nora Swart (Svp Cpo) $555,541 $0 $42,443
Jim Paquette (Mortgage Sal) $513,873 $0 $40,278
Mark Powell (Svp Cro) $406,070 $0 $14,981
Don Bratt (Svp Cmo) $386,743 $0 $52,441
Jim Maskell (Svp Cco) $372,992 $0 $49,902
Sara Kemperman (Svp Retail O) $369,169 $0 $32,505
Alicia Force (Svp Consumer) $278,162 $0 $25,294
Kevin Smith (Cio) $80,853 $0 $42,337
Dave Bardolph (Board Member) $0 $0 $0
Tim Gortsema (Board Member) $0 $0 $0
Brad Mathis (Board Member) $0 $0 $0
Tim Myers (Board Member) $0 $0 $0
Jack Newberry (Board Member) $0 $0 $0
Juan Olivarez (Board Member) $0 $0 $0
Cheri Parker (Board Member) $0 $0 $0
Bob Partridge (Board Member) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2022

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$520,341,837
Expenses
$350,744,589
Net Income
$169,597,248
Net Assets
$1,253,854,754
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $460,514,936
88.5%
Investment Income $35,298,506
6.8%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $24,528,395
4.7%
Notable Expenses Percent of Total Expenses
Executive Compensation $6,834,001
1.9%
Professional Fundraising Fees $0
Other Salaries and Wages $122,698,590
35.0%
Assets/Debt
Total Assets $11,905,975,667
Total Liabilities $10,652,120,913
Net Assets $1,253,854,754
Other
Provided first-class or charter travel
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Sandy Jelinski (Ceo) $2,604,713 $0 $67,068
Matt Adler (Mortgage Lo) $1,388,481 $0 $36,902
Zac Ellerbroek (Mortgage Lo) $1,279,301 $0 $9,677
Razi Qadri (Svp Cioo) $1,140,384 $0 $39,327
Emil Izrailov (Mortgage Lo) $844,100 $0 $34,752
Brent Green (Mortgage Sal) $811,830 $0 $7,428
Corbin Buttleman (Mortgage Sal) $810,640 $0 $45,827
Eric Burgoon (Svp Mortgage) $785,424 $0 $57,909
Peter Dann (Svp Cfo) $523,263 $0 $45,827
Nora Swart (Svp Cpo) $505,193 $0 $39,758
Don Bratt (Svp Cmo) $369,329 $0 $56,949
Mark Powell (Vp Cro) $369,243 $0 $31,506
Sara Kemperman (Svp Retail O) $323,156 $0 $32,143
Alicia Force (Svp Consumer) $213,298 $0 $20,666
Dave Bardolph (Board Member) $0 $0 $0
Tim Gortsema (Board Member) $0 $0 $0
Brad Mathis (Board Member) $0 $0 $0
Tim Myers (Board Member) $0 $0 $0
Jack Newberry (Board Member) $0 $0 $0
Juan Olivarez (Board Member) $0 $0 $0
Cheri Parker (Board Member) $0 $0 $0
Bob Partridge (Board Member) $0 $0 $0
Mike Rice (Board Member) $0 $0 $0
Gretchen Tellman Partridge (Board Member) $0 $0 $0
Bob White (Board Member) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2021

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$490,221,594
Expenses
$333,217,740
Net Income
$157,003,854
Net Assets
$1,189,808,027
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $396,417,075
80.9%
Investment Income $10,026,683
2.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $83,777,836
17.1%
Notable Expenses Percent of Total Expenses
Executive Compensation $6,133,319
1.8%
Professional Fundraising Fees $0
Other Salaries and Wages $118,314,456
35.5%
Assets/Debt
Total Assets $11,670,748,024
Total Liabilities $10,480,939,997
Net Assets $1,189,808,027
Other
Provided first-class or charter travel
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Sandy Jelinski (Ceo) $2,491,306 $0 $65,118
Matt Adler (Mortgage Lo) $1,427,413 $0 $35,091
Zac Ellerbroek (Mortgage Lo) $1,289,448 $0 $10,177
Brent Green (Mortgage Sal) $1,232,628 $0 $39,615
Sharon Wladecki (Mortgage Lo) $1,161,963 $0 $40,307
Razi Qadri (Svp Cioo) $1,037,033 $0 $38,377
James Paquette (Mortgage Sal) $1,023,060 $0 $35,976
Eric Burgoon (Svp Mortgage) $734,517 $0 $55,475
Nora Swart (Svp Cpo) $459,433 $0 $38,094
Peter Dann (Svp Cfo) $450,015 $0 $38,377
Mark Powell (Vp Cro) $335,795 $0 $28,182
Don Bratt (Svp Cmo) $331,331 $0 $46,904
Sara Kemperman (Svp Retail O) $293,890 $0 $29,937
Dave Bardolph (Board Member) $0 $0 $0
Bill Van Port Fleet (Board Member) $0 $0 $0
Tim Gortsema (Board Member) $0 $0 $0
Brad Mathis (Board Member) $0 $0 $0
Tim Myers (Board Member) $0 $0 $0
Jack Newberry (Board Member) $0 $0 $0
Juan Olivarez (Board Member) $0 $0 $0
Cheri Parker (Board Member) $0 $0 $0
Bob Partridge (Board Member) $0 $0 $0
Mike Rice (Board Member) $0 $0 $0
Gretchen Tellman Partridge (Board Member) $0 $0 $0
Bob White (Board Member) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2020

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$495,848,275
Expenses
$331,329,406
Net Income
$164,518,869
Net Assets
$1,045,641,529
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $377,359,470
76.1%
Investment Income $10,047,620
2.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $108,441,185
21.9%
Notable Expenses Percent of Total Expenses
Executive Compensation $5,563,073
1.7%
Professional Fundraising Fees $0
Other Salaries and Wages $114,487,854
34.6%
Assets/Debt
Total Assets $9,236,003,182
Total Liabilities $8,190,361,653
Net Assets $1,045,641,529
Other
Provided first-class or charter travel
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Sandy Jelinski (Ceo) $2,329,598 $0 $64,937
Matt Adler (Mortgage Lo) $1,641,448 $0 $38,028
Corbin Buttleman (Vp Retail Mo) $1,165,079 $0 $37,571
Zac Ellerbroek (Mortgage Lo) $1,060,156 $0 $10,077
James Paquette (Mortgage Sal) $1,046,909 $0 $35,767
Brent Green (Mortgage Sal) $949,040 $0 $40,416
Razi Qadri (Svp Cioo) $940,714 $0 $38,202
Eric Burgoon (Svp Mortgage) $612,031 $0 $58,538
Nora Swart (Svp Cpo) $423,572 $0 $36,421
Peter Dann (Svp Cfo) $367,190 $0 $37,341
Mark Powell (Vp Cro) $309,634 $0 $20,109
Don Bratt (Svp Cmo) $309,195 $0 $41,857
Sara Kemperman (Svp Retail O) $271,140 $0 $28,074
Bill Van Port Fleet (Board Member) $0 $0 $0
Bob Partridge (Board Member) $0 $0 $0
Bob White (Board Member) $0 $0 $0
Cheri Parker (Board Member) $0 $0 $0
Gretchen Tellman Partridge (Board Member) $0 $0 $0
Dave Bardolph (Board Member) $0 $0 $0
Jack Newberry (Board Member) $0 $0 $0
Tim Gortsema (Board Member) $0 $0 $0
Mike Rice (Board Member) $0 $0 $0
Tom Theoret (Board Member) $0 $0 $0
Juan Olivarez (Board Member) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2019

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$426,738,471
Expenses
$281,064,733
Net Income
$145,673,738
Net Assets
$877,227,164
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $358,494,162
84.0%
Investment Income $20,678,422
4.8%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $47,565,887
11.1%
Notable Expenses Percent of Total Expenses
Executive Compensation $5,011,321
1.8%
Professional Fundraising Fees $0
Other Salaries and Wages $89,977,941
32.0%
Assets/Debt
Total Assets $6,861,784,826
Total Liabilities $5,984,557,662
Net Assets $877,227,164

Document Links

Fiscal Year Ending Dec.
2018

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$341,427,909
Expenses
$243,380,485
Net Income
$98,047,424
Net Assets
$728,449,449
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $301,875,574
88.4%
Investment Income $15,487,545
4.5%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $24,064,790
7.0%
Notable Expenses Percent of Total Expenses
Executive Compensation $4,686,800
1.9%
Professional Fundraising Fees $0
Other Salaries and Wages $83,729,628
34.4%
Assets/Debt
Total Assets $6,062,533,637
Total Liabilities $5,334,084,188
Net Assets $728,449,449

Document Links

Fiscal Year Ending Dec.
2017

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$284,025,811
Expenses
$203,800,586
Net Income
$80,225,225
Net Assets
$633,908,562
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $240,618,210
84.7%
Investment Income $14,153,283
5.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $29,254,318
10.3%
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $4,071,463
2.0%
Professional Fundraising Fees $0
Other Salaries and Wages $68,868,265
33.8%
Assets/Debt
Total Assets $5,220,499,507
Total Liabilities $4,586,590,945
Net Assets $633,908,562

Document Links

Fiscal Year Ending Dec.
2016

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$267,512,162
Expenses
$182,548,373
Net Income
$84,963,789
Net Assets
$553,921,186
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $221,856,712
82.9%
Investment Income $10,546,618
3.9%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $35,108,832
13.1%
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $4,224,707
2.3%
Professional Fundraising Fees $0
Other Salaries and Wages $59,333,585
32.5%
Assets/Debt
Total Assets $4,824,480,024
Total Liabilities $4,270,558,838
Net Assets $553,921,186
Compensation
Key Employees and Officers Compensation Related Other
List Available Upon Request (Strategy Gro) $4,317,305 $0 $235,607
List Available Upon Request (Highest Empl) $2,615,182 $0 $74,693
List Available Upon Request (Board Member) $0 $0 $0
Sandy Jelinski (Ceo) $0 $0 $0
Peter Dann (Cfo) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2015

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$229,781,201
Expenses
$156,900,788
Net Income
$72,880,413
Net Assets
$468,887,371
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $197,241,907
85.8%
Investment Income $9,871,434
4.3%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $22,667,860
9.9%
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $3,884,909
2.5%
Professional Fundraising Fees $0
Other Salaries and Wages $51,020,813
32.5%
Assets/Debt
Total Assets $4,088,223,054
Total Liabilities $3,619,335,683
Net Assets $468,887,371
Compensation
Key Employees and Officers Compensation Related Other
List Available Upon Request (Strategy Gro) $3,932,638 $0 $279,109
List Available Upon Request (Highest Empl) $2,512,945 $0 $114,615
List Available Upon Request (Board Member) $0 $0 $0
Sandy Jelinski (Ceo) $0 $0 $0
Peter Dann (Cfo) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2014

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$188,642,653
Expenses
$132,233,939
Net Income
$56,408,714
Net Assets
$396,825,171
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $157,247,899
83.4%
Investment Income $15,960,991
8.5%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $15,433,763
8.2%
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $4,362,265
3.3%
Professional Fundraising Fees $0
Other Salaries and Wages $41,365,048
31.3%
Assets/Debt
Total Assets $3,539,495,204
Total Liabilities $3,142,670,033
Net Assets $396,825,171
Compensation
Key Employees and Officers Compensation Related Other
List Available Upon Request (Strategy Gro) $4,362,265 $0 $192,375
List Available Upon Request (Highest Empl) $1,871,284 $0 $103,514
List Available Upon Request (Board Member) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2013

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$173,694,408
Expenses
$119,683,007
Net Income
$54,011,401
Net Assets
$330,067,917
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $135,187,221
77.8%
Investment Income $10,329,223
5.9%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $28,177,964
16.2%
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $3,625,919
3.0%
Professional Fundraising Fees $0
Other Salaries and Wages $35,026,020
29.3%
Assets/Debt
Total Assets $3,041,411,625
Total Liabilities $2,711,343,708
Net Assets $330,067,917
Compensation
Key Employees and Officers Compensation Related Other
List Available Upon Request (Strategy Gro) $3,749,186 $0 $139,191
List Available Upon Request (Highest Empl) $1,765,978 $0 $83,250
List Available Upon Request (Board Member) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2012

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$193,549,833
Expenses
$115,173,959
Net Income
$78,375,874
Net Assets
$290,854,758
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $154,462,938
79.8%
Investment Income $7,989,513
4.1%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $31,097,382
16.1%
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $2,633,729
2.3%
Professional Fundraising Fees $0
Other Salaries and Wages $32,365,515
28.1%
Assets/Debt
Total Assets $2,730,966,240
Total Liabilities $2,440,111,482
Net Assets $290,854,758

Document Links

Fiscal Year Ending Dec.
2011

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$137,904,513
Expenses
$101,004,995
Net Income
$36,899,518
Net Assets
$225,545,231
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $127,686,837
92.6%
Investment Income $9,476,303
6.9%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $741,373
0.5%
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $3,222,957
3.2%
Professional Fundraising Fees $0
Other Salaries and Wages $19,881,623
19.7%
Assets/Debt
Total Assets $2,434,626,440
Total Liabilities $2,209,081,209
Net Assets $225,545,231

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 »

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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.
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  • 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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