Nonprofit · EIN 93-0256538
FORRIT CREDIT UNION
Tax-exempt · CLACKAMAS, OR 97015
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $5,118,064 | $6,953,570 | -$1,835,506 | $81,997,222 | $73,455,509 | $8,541,713 |
| December 31, 2024 | 990 | $5,226,564 | $5,533,549 | -$306,985 | $93,697,179 | $83,319,960 | $10,377,219 |
| December 31, 2023 | 990 | $4,552,072 | $4,328,101 | $223,971 | $98,950,614 | $693,243 | $98,257,371 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $4,171,344
- Investment income
- $946,720
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $777,492
- Other salaries and wages
- $1,067,685
- Salaries, compensation and benefits (total)
- $2,245,902
- Professional fundraising fees
- $0
- Legal fees
- $6,211
- Accounting fees
- $270,024
- Occupancy
- $299,765
- Travel
- $3,282
- Depreciation
- $339,347
Balance sheet and other
- Total assets, start of year
- $93,697,179
- Total assets, end of year
- $81,997,222
- Total liabilities, end of year
- $73,455,509
- Net assets, end of year
- $8,541,713
- Land, buildings and equipment
- $1,951,778
- Gross receipts
- $5,118,064
- Employees
- 25
- Volunteers
- 7
- Year formed
- 1936
- State of legal domicile
- OR
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Justin Olson | CEO/President Officer, Highest-paid employee | 45 | $167,109 |
| Wendy Russell | Interim CEO/Director of Finance Officer, Key employee | 45 | $158,433 |
| Andrew Ackman | Director of IT Key employee | 45 | $125,928 |
| Cindy Packard | Director of Member Services Key employee | 45 | $123,005 |
| Yuki Lam | Director of Marketing Key employee | 45 | $101,706 |
| Sarah Buck | Director of Experience Key employee | 45 | $101,311 |
990 for the year ended December 31, 2024: 6 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Justin Olson | CEO/President Officer, Key employee, Highest-paid employee | 45 | $171,987 |
| Wendy Russell | Director of Finance Trustee or director | 45 | $133,839 |
| Andrew Ackman | Director of IT Trustee or director | 45 | $117,383 |
| Cindy Packard | Director of Member Services Trustee or director | 45 | $113,089 |
| Yuki Lam | Director of Marketing Trustee or director | 45 | $93,916 |
| Sarah Buck | Director of Experience Trustee or director | 45 | $93,451 |
990 for the year ended December 31, 2023: 6 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Justin Olson | CEO/President Officer, Highest-paid employee | 45 | $160,324 |
| Wendy Russell | Director of Finance Trustee or director | 45 | $111,913 |
| Andrew Ackman | Director of IT Trustee or director | 45 | $106,148 |
| Cindy Packard | Director of Member Services Trustee or director | 45 | $104,947 |
| Yuki Lam | Director of Marketing Trustee or director | 45 | $86,632 |
| Sarah Buck | Director of Experience Trustee or director | 45 | $86,092 |
Address and contacts
- Address (IRS master file)
- 12550 SE 93RD AVE STE 400, CLACKAMAS, OR 97015-5760
- In care of
- % WENDY RUSSELL
- Principal officer (990 for 2025)
- Wendy Russell, 12550 SE 93rd Ave, Suite 400, Clackamas, OR 97015
- Signed the 990
- Wendy Russell, Interim CEO/Director of Finance
- Phone
- (503) 275-0300
- Website
- www.forritcu.org
Mission
We provide solutions to improve each of our members financial lives by offering competitive-low fee services and providing financial literacy through education events.
Program accomplishments
- Operations & maintenance of a cooperative credit union owned by its members.
- Interest & dividends paid on savings, certificate of deposit and borrowings
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 93-0256538
- Tax-exempt status
- 501(c)(14): State-chartered credit union
- Donations deductible
- No
- Exempt since
- 1944
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Group exemption
- 0728: STATE CHARTERED CREDIT UNIONS IN OREGON
- Assets (IRS master file)
- $81,997,222
- Income (IRS master file)
- $5,118,064
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $5,118,064 | $6,953,570 | $81,997,222 | IRS |
| 990 | December 2024 | $5,226,564 | $5,533,549 | $93,697,179 | IRS |
| 990 | December 2023 | $4,552,072 | $4,328,101 | $98,950,614 | XML |
| 990 | December 2022 | $3,668,740 | $3,773,118 | $102,177,265 | IRS |
| 990 | December 2021 | $3,304,560 | $3,106,641 | $105,147,440 | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 93-0256538).
Questions about FORRIT CREDIT UNION
- What is the EIN of FORRIT CREDIT UNION?
- The employer identification number (EIN) of FORRIT CREDIT UNION is 93-0256538.
- Is FORRIT CREDIT UNION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(14) since 1944.
- Are donations to FORRIT CREDIT UNION tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does FORRIT CREDIT UNION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of FORRIT CREDIT UNION due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did FORRIT CREDIT UNION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of FORRIT CREDIT UNION?
- The 990 for the year ended December 31, 2025 names Wendy Russell.
- Who are the officers and directors of FORRIT CREDIT UNION?
- The 990 for the year ended December 31, 2025 lists 6 people; 6 received compensation from the organization, the highest $167,109 (Justin Olson, CEO/President).
- How much revenue does FORRIT CREDIT UNION have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $5,118,064, expenses of $6,953,570 and total assets of $81,997,222 at year end.
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