2024-11-05T15:38:00-06:00 2023-12-31 840919886 JONES MERTSCHING CPAS PC 32186 CASTLE COURT SUITE 220 EVERGREEN CO 80439 990 2023-01-01 846023137 CANVAS CREDIT UNION CANV 3036912345 9990 PARK MEADOWS DRIVE LONE TREE CO 80124 COLLEEN KNOLL CFO 3036912345 2024-11-05 1 0 ERIC L JONES CPA P00634170 3034809090 2024-11-05 2023 2024-10-15 13:58:12Z DARRYL T MARKSBERRY 9990 PARK MEADOWS DRIVE LONE TREE CO 80124 614066146 0 X WWW.CANVAS.ORG X 1938 CO CANVAS CREDIT UNION WILL STRIVE TO HELP INDIVIDUALS AND FAMILIES MAKE BETTER DECISIONS AND GROW STRONGER FINANCIALLY. WE WILL PROVIDE SIMPLE AND RELEVANT PRODUCTS AND SERVICES AT A CONSISTENTLY HONEST VALUE. WE WILL HELP MEMBERS AFFORD LIFE. 8 8 970 15 971606 0 0 0 224044894 290931325 9476816 14407221 3822250 2655701 237343960 307994247 975381 881132 0 0 73978969 84135188 0 0 0 113274782 191468941 188229132 276485261 49114828 31508986 4272444159 4370149466 3863265517 3959179273 409178642 410970193 CANVAS CREDIT UNION WILL STRIVE TO HELP INDIVIDUALS AND FAMILIES MAKE BETTER DECISIONS AND GROW STRONGER FINANCIALLY. WE WILL PROVIDE SIMPLE AND RELEVANT PRODUCTS AND SERVICES AT A CONSISTENTLY HONEST VALUE. WE WILL HELP MEMBERS AFFORD LIFE. 0 0 276485261 THE CREDIT UNION IS OWNED BY APPROXIMATELY 294,000 MEMBERS. THE CREDIT UNION PROVIDES FINANCIAL SERVICES TO ITS MEMBERS, SUCH AS CONSUMER LENDING, SHARED BRANCHING SERVICES, DEPOSIT/TRANSACTIONAL SERVICES, MORTGAGE LENDING, COMMERCIAL LENDING, HOME BANKING, BILL PAYMENT AND OTHER FINANCIAL SERVICES. 276485261 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 1 0 0 0 0 0 0 1 0 0 1 93468 0 1 970 1 1 1 0 0 0 0 0 0 0 1 0 X 8 8 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X X CANVAS CREDIT UNION 3036912345 9990 PARK MEADOWS DRIVE LONE TREE CO 80124 TIM FARRELL DIRECTOR 3.00 X 35000 0 0 TOM LASH CHAIRMAN 5.00 X 60000 0 0 SCOTT AARONSON DIRECTOR 3.00 X 35000 0 0 ROSALYNN FEAGINS VICE CHAIR 3.00 X 45000 0 0 TIM REED DIRECTOR 3.00 X 35000 0 0 JOSH BURCHFIELD TREASURER 3.00 X 35000 0 0 GARY JONES DIRECTOR 3.00 X 35000 0 0 JEROME DAVIS SECRETARY 3.00 X 35000 0 0 DAVID PIERCE SVP/CIO 40.00 X 570301 0 428232 STEPHEN FERRERO CHIEF COMM ENG OFF 40.00 X 544376 0 407460 COLLEEN KNOLL CFO 40.00 X 653647 0 481435 DARRYL MARKSBERRY CEO 40.00 X 1706181 0 1030825 CHAD SHANE CHIEF LENDING OFF 40.00 X 597649 0 451444 BENJAMIN GREIVING GENERAL COUNSEL 40.00 X 455298 0 364339 CHRIS MYKLEBUST CHIEF TRANSFORMATION OFFIC 40.00 X 447685 0 356274 SARA OTT CHIEF RETAIL OFFICER 40.00 X 460406 0 198885 CARLOS VAZQUEZ SVP CISO 40.00 X 364595 0 192565 RYAN KLASSEN SVP CONSUMER LENDING 40.00 X 353936 0 190816 ANDREW WATSON SVP MORTGAGE LENDING 40.00 X 1116253 0 18064 SHELBY PARKHILL MORTGAGE LOAN ORIG 1 40.00 X 379052 0 21782 MARK MACNICHOLAS VP - CONTROLLER 40.00 X 345402 0 28949 8309781 0 4171070 13 0 1 0 ELDER CONSTRUCTION INC 7380 GREENDALE ROAD WINDSOR CO 80550 CONSTRUCTION 6628733 PRO FOUND RECOVERY SOLUTIONS INC 11618 FIAR OAKS BLVD SUITE 101 FIAR OAKS CA 95628 ASSET RECOVERY 3204845 CU COOPERATIVE SYSTEMS INC 9692 HAVEN AVE RANCHO CUCAMONGA CA 91730 CARD/ATM SERVICES 2849568 FINANCIAL CONSTRUCTION SERVICES 6021 EAST 50TH AVENUE COMMERCE CITY CO 80022 CONSTRUCTION 2320623 DIEBOLD INCORPORATED PO BOX 643543 PITTSBURGH PA 152643543 ATM EQUIPMENT 1920594 5 INTEREST MEMBER LOANS 522100 244344368 244344368 PLASTICS INCOME 522100 21997236 21997236 FEES MEMBER SERVICE 522100 18207366 18207366 OTHER OPERATING INCOME 522100 5158372 5158372 SHARED BRANCH INCOME 522100 1223983 1223983 290931325 9161292 179373 8981919 1684095 0 1684095 1684095 1684095 1072729 310245099 1099849 304972050 -27120 5273049 5245929 5273049 -27120 NON-MEMBER ATM FEES 522100 536928 536928 INSURANCE INCOME 524298 434678 434678 971606 307994247 296383747 971606 10638894 881132 12480849 57963585 383679 8370748 4936327 302036 4569025 10079154 5938592 1476844 10245584 5954617 DIVIDENDS & INTEREST -M 70219946 PROVISION FOR LOAN LOSS 46055650 TRANSACTION PROCESSING 17864695 OFFICE OPERATIONS 10565733 8197065 276485261 18594514 17546581 125298245 122338288 3288009 2177744 80852828 88007900 3753933308 3846157264 4100709 4447665 148211611 57320956 74516609 90890655 92041895 82521937 22855965 17140662 4676220 4404683 92285857 94516087 4272444159 4370149466 38710067 43386761 3311009 3520493 260000000 20000000 3561244441 3892272019 3863265517 3959179273 X 0 0 0 0 409178642 410970193 409178642 410970193 4272444159 4370149466 X 31508986 2577659 -32295094 X 0 1 X 1 0 1 5693357 17259235 16778782 6173810 1 X 25010163 25010163 81509603 25932183 55577420 7895875 5234306 2661569 22827507 16151343 6676164 10968463 10003124 965339 90890655 MEMBER SHARES 421358919 OTHER MEMBER DEPOSITS 1992915229 CDS 1477997871 3892272019 X 307994247 0 307994247 0 307994247 276485261 0 276485261 0 276485261 PART IV, LINE 1B: THE CREDIT UNION SELLS FIRST MORTGAGE LOANS TO OTHERS WITH SERVICING RETAINED. THE CUSTODIAL ESCROW ACCOUNTS RELATED TO THESE MORTGAGE LOANS ARE NOT INCLUDED IN THE CREDIT UNION'S FINANCIAL STATEMENTS. PART IV, LINE 2B: THE CREDIT UNION SERVICES FIRST MORTGAGE LOANS HELD IN ITS OWN PORTFOLIO. THE CUSTODIAL ESCROW ACCOUNTS RELATED TO THESE MORTGAGE LOANS ARE INCLUDED IN THE CREDIT UNION'S FINANCIAL STATEMENTS, AND ARE REPORTED AS AN ESCROW LIABILITY. PART X, LINE 2: THE CREDIT UNION IS A STATE-CHARTERED CREDIT UNION DESCRIBED IN INTERNAL REVENUE CODE (IRC) SECTION 501(C)(14). AS SUCH, THE CREDIT UNION IS EXEMPT FROM FEDERAL TAXATION OF INCOME DERIVED FROM THE PERFORMANCE OF ACTIVITIES THAT ARE IN FURTHERANCE OF ITS EXEMPT PURPOSES, EXCEPT FOR UNRELATED BUSINESS INCOME, AS DEFINED IN IRC SECTION 512 AND IN TECHNICAL ADVICE MEMORANDUMS (TAMS) RELEASED IN 2007 TO A NUMBER OF STATE-CHARTERED CREDIT UNIONS LOCATED THROUGHOUT THE COUNTRY. IN THESE TAMS, THE INTERNAL REVENUE SERVICE RULED CERTAIN PRODUCTS AND SERVICES TO BE SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. IN LIGHT OF THE TAMS, THE CREDIT UNION HAS ASSESSED ITS ACTIVITIES AND ANY POTENTIAL FEDERAL OR STATE INCOME TAX LIABILITY. MANAGEMENT HAS DETERMINED THAT NO LIABILITY EXISTS FROM FEDERAL OR STATE TAXATION OF ACTIVITES DEEMED TO BE UNRELATED TO ITS EXEMPT PURPOSE. FASB ASC TOPIC 740, INCOME TAXES, PROVIDES GUIDANCE FOR HOW UNCERTAIN TAX POSITIONS SHOULD BE RECOGNIZED, MEASURED, DISCLOSED AND PRESENTED IN THE CONSOLIDATED FINANCIAL STATEMENTS. THIS REQUIRES THE EVALUATION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN THE COURSE OF PREPARING THE CREDIT UNION'S TAX RETURNS TO DETERMINE WHETHER THE TAX POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED "WHEN CHALLENGED OR "WHEN EXAMINED" BY THE APPLICABLE TAX AUTHORITY. TAX POSITIONS NOT DEEMED TO MEET THE MORE-LIKELY-THAN-NOT THRESHOLD WOULD BE RECORDED AS A TAX EXPENSE AND LIABILITY IN THE CURRENT YEAR. FOR THE YEAR ENDED DECEMBER 31, 2023, MANAGEMENT HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS. 1 COLORADO STATE UNIVERSITY PUEBLO FOUNDATION 2200 BONFORTE BLVD PUEBLO CO 81001 846035959 110750 0 DONATION PLAYFLY HOLDINGS LLC DBA PLAYFLY SPORTS PROPERTIES LLC 22 CASSATT AVENUE BERWYN PA 19312 851210887 260000 0 DONATION TEALL PROPERTIES GROUP LLC PO BOX 31384 CHARLOTTE NC 28231 832060347 50000 0 DONATION CHILDREN'S MIRACLE NETWORK 205 WEST 700 SOUTH SALT LAKE CITY UT 84101 870387205 33384 0 DONATION POUDRE SCHOOL DISTRICT 2407 LAPORTE AVE FORT COLLINS CO 80521 846013733 30500 0 DONATION CHERRY CREEK ARTS FESTIVAL DBA CHERRYARTS 2 STEELE STREET SUITE B100 DENVER CO 80206 742546811 30000 0 DONATION CHILDREN'S HOSPITAL COLORADO FOUNDATION 13123 E 16TH AVENUE BOX 465 AURORA CO 80045 840813462 24916 0 DONATION GOLD CROWN FOUNDATION INC 1743 WAZEE STREET SUITE 300 DENVER CO 80202 742422126 20000 0 DONATION NESTE EVENT MARKETING LLC DBA NESTE LIVE 410 CHESTNUT STREET NASHVILLE TN 37203 833591589 20000 0 DONATION COLORADO STATE UNIVERSITY 6003 CAMPUS DELIVERY 555 S HOWES ST FORT COLLINS CO 80523 846000545 35000 0 DONATION FOUDATION FOR COLORADO COMMUNITY COLLEGES 9101 EAST LOWRY BOULEVARD DENVER CO 80230 841070271 13125 0 DONATION BIZWEST MEDIA LLC PO BOX 270810 FORT COLLINS CO 80527 274813583 10500 0 DONATION NATIONAL CREDIT UNION FOUNDATION INC PO BOX 78880 MILWAUKEE WI 532780880 391383650 10000 0 DONATION CITY OF FRUITA 325 E ASPEN SUITE 155 FRUITA CO 81521 846000669 10000 0 DONATION DU RETIREES ASSOCIATION 2199 S UNIVERSITY BLVD DENVER CO 80210 840404231 10000 0 DONATION REVEL XP LLC 2111 MARVYN PKWY OPELIKA AL 36804 853206076 8107 0 DONATION UNIVERSITY OF DENVER 2101 S UNIVERSITY BLVD DENVER CO 80210 840404231 7500 0 DONATION STONE CASTLE CORPORATION DBA DOUBLE TREE BY HILTON THORNTON 83 E 120TH AVE THORNTON CO 80233 270962188 6943 0 DONATION FORT COLLINS AREA CHAMBER OF COMMERCE 225 SOUTH MELDRUM STREET FORT COLLINS CO 80521 840201983 6598 0 DONATION ROCKY MOUNTAIN ADVENTIST HEALTHCARE FOUNDATION DBA CASTLE ROCK ADVENTIST HO 950 E HARVARD AVE SUITE 230 DENVER CO 80210 840745018 6000 0 DONATION FAMILY PROMISE OF GREATER DENVER PO BOX 40550 DENVER CO 80204 841367869 5950 0 DONATION FOOD BANK OF THE ROCKIES INC 10700 EAST 45TH AVENUE DENVER CO 80239 840772672 5750 0 DONATION HISPANIC CHAMBER OF COMMERCE OF METRO DENVER DBA COLORADO HISPANIC CHAMBER 444 SHERMAN STREET DENVER CO 80203 840845219 5500 0 DONATION MT CARMEL VETERANS SERVICE CENTER 530 COMMUNICATION CIR COLORADO SPRINGS CO 80905 811652178 5500 0 DONATION BLUE STAR RECYCLERS PO BOX 7304 COLORADO SPRINGS CO 809337304 275071916 5155 0 DONATION CANVAS FOUNDATION 9990 PARK MEADOWS DRIVE LONE TREE CO 80124 811755475 114954 0 DONATION PART I, LINE 2: THE CREDIT UNION MONITORS THE USE OF GRANT FUNDS BY ATTENDING THE SPONSORSHIP EVENT AND/OR OBSERVING THE RESULTS IN THE COMMUNITY. X 1 1 X X X X 0 1 0 DARRYL MARKSBERRY CEO 969233 0 722926 0 14022 0 1009309 0 21516 0 2737006 0 0 0 COLLEEN KNOLL CFO 421131 0 206651 0 25865 0 466602 0 14833 0 1135082 0 0 0 ANDREW WATSON SVP MORTGAGE LENDING 215928 0 896623 0 3702 0 0 0 18064 0 1134317 0 0 0 CHAD SHANE CHIEF LENDING OFF 398806 0 181345 0 17498 0 439724 0 11720 0 1049093 0 0 0 DAVID PIERCE SVP/CIO 377747 0 178068 0 14486 0 413349 0 14883 0 998533 0 0 0 STEPHEN FERRERO CHIEF COMM ENG OFF 370658 0 157059 0 16659 0 405189 0 2271 0 951836 0 0 0 BENJAMIN GREIVING GENERAL COUNSEL 294730 0 144905 0 15663 0 345004 0 19335 0 819637 0 0 0 CHRIS MYKLEBUST CHIEF TRANSFORMATION OFFIC 298083 0 135182 0 14420 0 341916 0 14358 0 803959 0 0 0 SARA OTT CHIEF RETAIL OFFICER 282743 0 112000 0 65663 0 179608 0 19277 0 659291 0 4110 0 CARLOS VAZQUEZ SVP CISO 283815 0 69000 0 11780 0 183788 0 8777 0 557160 0 26650 0 RYAN KLASSEN SVP CONSUMER LENDING 272065 0 69978 0 11893 0 177442 0 13374 0 544752 0 24334 0 SHELBY PARKHILL MORTGAGE LOAN ORIG 1 18295 0 358604 0 2153 0 8973 0 12809 0 400834 0 0 0 MARK MACNICHOLAS VP - CONTROLLER 288912 0 45063 0 11427 0 10019 0 18930 0 374351 0 98070 0 PART I, LINE 1A SPOUSE TRAVEL WAS PROVIDED TO BOARD MEMBERS. THE SPOUSE TRAVEL BENEFITS WERE TREATED AS TAXABLE COMPENSATION IF EXCEEDED $600, AND ALL BENEFITS ARE APPROVED THROUGH THE ANNUAL BUDGETING PROCESS. PART I, LINE 4B SECTION 457(F) NON QUALIFIED DEFERRED COMPENSATION PLAN: THE CREDIT UNION HAD ESTABLISHED A NON-QUALIFIED DEFERRED COMPENSATION PLAN FOR SELECT MEMBERS OF MANAGEMENT UNDER SECTION 457(F) OF THE INTERNAL REVENUE CODE. EACH MEMBER OF MANAGEMENT WHO IS OFFERED THE PLAN MUST BE CONTINUOUSLY EMPLOYED FOR A CERTAIN NUMBER OF YEARS TO EARN THE DEFERRED COMPENSATION PAYMENT. AMOUNTS ACCRUED UNDER THE PLAN FOR 2023 WERE AS FOLLOWS: MARKSBERRY - $996,109 KNOLL - $455,665 SHANE - $426,524 PIERCE - $403,859 FERRERO - $396,604 OTT - $168,300 GREIVING - $331,804 MYKELBUST - $332,682 VAZQUEZ - $172,727 KLASSEN - $166,111 AMOUNTS PAID TO PLAN PARTICIANTS IN 2023 WERE AS FOLLOWS: OTT - $4,110 VAZQUEZ - $26,650 KLASSEN - $24,334 MACNICHOLAS - $98,070 STEPHEN FERRERO OFFICER HOME X 585619 545434 0 1 1 CHAD SHANE OFFICER HOME X 1700000 1552808 0 1 1 DARRYL T MARKSBERRY OFFICER HOME X 2471750 2189014 0 1 1 COLLEEN KNOLL OFFICER HOME X 1351575 1103775 0 1 1 DAVID PIERCE OFFICER HOME X 1151000 997032 0 1 1 SARA OTT OFFICER HOME X 1418800 1169419 0 1 1 RYAN KLASSEN OFFICER HOME X 395000 343248 0 1 1 BENJAMIN GREIVING OFFICER HOME X 500000 441242 0 1 1 CHRISTEN MYKLEBUST OFFICER HOME X 966215 878144 0 1 1 DOUGLAS MARKSBERRY OFFICER FAMILY MEMBER HOME X 443746 394065 0 1 1 TANSLEY STEARNS FORMER OFFICER RETIREMENT X 4577598 4069219 0 1 1 STEPHEN FERRERO OFFICER RETIREMENT X 9462961 9825969 0 1 1 BEN GREIVING OFFICER RETIREMENT X 2365584 2456330 0 1 1 TODD MARKSBERRY OFFICER RETIREMENT X 25964687 26960718 0 1 1 CHRIS MYKLEBUST OFFICER RETIREMENT X 5306408 5509967 0 1 1 DAVID PEIRCE OFFICER RETIREMENT X 6073608 6306599 0 1 1 CHAD SHANE OFFICER RETIREMENT X 5756564 5977392 0 1 1 COLLEEN KNOLL OFFICER RETIREMENT X 10699092 11109520 0 1 1 MARK MACNICHOLAS EMPLOYEE HOME X 500000 470441 0 1 1 SHELBY PARKHILL EMPLOYEE HOME X 875000 870670 0 1 1 CARLOS VAZQUEZ EMPLOYEE HOME X 448000 390366 0 1 1 ANDREW WATSON EMPLOYEE HOME X 1005000 999378 0 1 1 SARA OTT OFFICER RETIREMENT X 3430000 3447150 0 1 1 88007900 DOUGLAS MARKSBERRY SON OF CEO 173598 COMPENSATION 0 COLIN SHANE SON OF CLO 26812 COMPENSATION 0 TAYLOR GIMBERT MARKSBERRY DAUGHTER IN LAW OF CEO 70420 COMPENSATION 0 FORM 990, PART VI, SECTION A, LINE 6 LINE 6 EXPLANATION - THE FIELD OF MEMBERSHIP OF THIS CREDIT UNION SHALL BE: A MEMBER OF THE IMMEDIATE FAMILY OF ANY PERSON WHO, UNDER THE PROVISIONS OF THIS ARTICLE, IS ELIGIBLE FOR MEMBERSHIP IN THE CREDIT UNION MAY ALSO BE ADMITTED TO MEMBERSHIP THEREIN. "IMMEDIATE FAMILY" MEANS PERSONS RELATED BY BLOOD, BY MARRIAGE OR BY ADOPTION. A MEMBER OF A HOUSEHOLD WHO RESIDES WITH A PERSON WHO, UNDER THE PROVISIONS OF THIS SECTION, IS ELIGIBLE FOR MEMBERSHIP IN THE CREDIT UNION MAY ALSO BE ADMITTED TO MEMBERSHIP THEREIN. "HOUSEHOLD" IS DEFINED AS PERSONS LIVING IN THE SAME RESIDENCE AND WHO MAINTAIN A SINGLE ECONOMIC UNIT. THIS INCLUDES ANY PERSON WHO IS A PERMANENT MEMBER OF AND PARTICIPATES IN THE MAINTENANCE OF THE HOUSEHOLD, INCLUDING FAMILY MEMBERS, DOMESTIC PARTNERS, FOSTER CHILDREN, AND LEGAL GUARDIAN RELATIONSHIPS. MEMBERSHIP INCLUDES EMPLOYEES AND RETIREES (INCLUDING THE DEFINITIONS ABOVE) OF EXCEL ENERGY, AND PAST AND PRESENT FACULTY, STAFF, STUDENT, ALUMNI, AND RETIREES OF THE UNIVERSITY OF COLORADO HEALTH SCIENCES CENTER, AND EMPLOYEES OR MEMBERS OF OTHER BUSINESS (SEGS) OR ASSOCIATIONS GENERALLY IN THE DENVER, COLORADO METROPOLITAN AREA. MEMBERSHIP ALSO INCLUDES ALL PERSONS LIVING OR WORKING IN CERTAIN COMMUNITIES OF COLORADO SPRINGS, ARVADA, LITTLETON, AURORA, THORNTON, BOUNDARIES OF DENVER INTERNATIONAL AIRPORT, SOUTHWEST PLAZA MALL, STAPLETON REDEVELOPMENT AREA, LARIMER COUNTY, GRAND JUNCTION, RIFLE, AND FRUITA AND OTHER CENSUS TRACTS GENERALLY IN THE DENVER, COLORADO METROPOLITAN AREA. FORM 990, PART VI, SECTION A, LINE 7A LINE 7A EXPLANATION - THE MEMBERS ELECT THE GOVERNING BODY BY VOTE AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 7B LINE 7B EXPLANATION - MERGER - REQUIRES TWO THIRDS MAJORITY VOTE OF VOTING MEMBERS. CHARTER CONVERSION - REQUIRES TWO THIRDS MAJORITY VOTE OF VOTING MEMBERS. DISSOLUTION AND LIQUIDATION - REQUIRES MAJORTY VOTE OF ENTIRE MEMBERSHIP. FORM 990, PART VI, SECTION B, LINE 11B LINE 11B EXPLANATION - MANAGEMENT PROVIDES THE REQUIRED INFOMATION TO THE CREDIT UNION'S INDEPENDENT CPA FIRM FOR COMPLETION OF THE FORM 990. FORM 990, PART VI, SECTION B, LINE 12C THE DIRECTORS COMPLETE THE CONFLICT OF INTEREST DISCLOSURE FOLLOWING EACH ANNUAL MEETING. ON AN ANNUAL BASIS, THE BOARD RECEIVES A PRESENTATION ON FIDUCIARY RESPONSIBILITIES/ETHICS. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE CEO, SENIOR EXECUTIVES, VICE PRESIDENT, ASSISTANT VICE PRESIDENT, AND OTHER HIGHLY COMPENSATED EMPLOYEES (SPECIFICALLY MORTGAGE AND COMMERCIAL LOAN ORIGINATORS) WAS REVIEWED AND APPROVED IN 2023. AN INDEPENDENT COMPENSATION FIRM, THE CARDWELL GROUP, WAS ENGAGED BY THE BOARD TO REVIEW THE CEO'S COMPENSATION PLAN, AND THE CARDWELL GROUP WAS SEPARATELY ENGAGED BY THE ORGANIZATION TO REVIEW THE COMPENSATION OF THE OTHER KEY EMPLOYEES REFERENCED IN LINE 15B. THE CARDWELL GROUP PROVIDED INDEPENDENT AND MARKET-BASED DATA, AND ASSISTED THE ORGANIZATION WITH REVISING ITS COMPENSATION PHILOSOPHY. THE PHILOSOPHY TAKES INTO CONSIDERATION SEVERAL FACTORS, INCLUDING: PERFORMANCE; MARKET DATA; TOTAL COMPENSATION; AND THE LONG-TERM FINANCIAL CONDITION OF THE ORGANIZATION. COMPENSATION FOR THE CEO AND OTHER KEY EMPLOYEES WAS ADJUSTED BASED ON THIS PHILOSOPHY AND THE INDEPENDENT DATA PROVIDED BY THE CARDWELL GROUP. FORM 990, PART VI, SECTION C, LINE 19 OTHER THAN THE FORM 990, NO DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC. FORM 990, PART VII CONTACT ADDRESSES FOR OFFICERS, DIRECTORS, ETC DARRYL MARKSBERRY - 5670 LAKE GULCH ROAD, CASTLE ROCK, CO 80104. FORM 990, PART XI, LINE 9: ADJUSTMENT REQUIRED BY ASU 2016-13 -32,295,094. FORM 990 - SCH L - PART II THE CREDIT UNION OFFERS A 1% LOAN DISCOUNT RATE ON CONSUMER LOANS AND OFFERS A 2% DISCOUNT RATE ON FIRST MORTGAGE LOANS TO ALL EMPLOYEES. CANVAS FOUNDATION 9990 PARK MEADOWS DRIVE LONE TREE CO 80124 811755475 COMMUNITY FOUNDATION CO 501(C)(3) 509(A)(2) 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 CANVAS FOUNDATION B 114954 CASH