Nonprofit · EIN 94-0760540
F3 CREDIT UNION
Tax-exempt · SAN JOSE, CA 95126
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $11,865,118 | $10,726,092 | $1,139,026 | $233,387,409 | $198,698,304 | $34,689,105 |
| December 31, 2023 | 990 | $10,516,194 | $9,018,123 | $1,498,071 | $236,503,849 | $203,997,888 | $32,505,961 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $7,145,996
- Investment income
- $4,719,122
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $655,695
- Other salaries and wages
- $2,372,936
- Salaries, compensation and benefits (total)
- $3,659,236
- Professional fundraising fees
- $0
- Accounting fees
- $81,042
- Occupancy
- $338,812
- Travel
- $69,865
- Depreciation
- $37,612
Balance sheet and other
- Total assets, start of year
- $236,503,849
- Total assets, end of year
- $233,387,409
- Total liabilities, end of year
- $198,698,304
- Net assets, end of year
- $34,689,105
- Land, buildings and equipment
- $185,599
- Gross unrelated business income
- $35,751
- Gross receipts
- $11,865,118
- Employees
- 41
- Volunteers
- 10
- Year formed
- 1931
- State of legal domicile
- CA
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, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| FARDAD KHOSRAVI | PRESIDENT & CEO Officer | 40 | $352,948 | $109,491 |
| PAUL LINDSLEY | CFO Officer | 40 | $169,656 | $23,600 |
| DAVID CLARK | VP - IT Highest-paid employee | 40 | $148,464 | $23,583 |
| CYNDEE LEMON | VP - OPERATIONS/HR Highest-paid employee | 40 | $137,365 | $25,423 |
| ELSA PHAM | VP - LENDING Highest-paid employee | 40 | $135,802 | $25,549 |
| MANIE KOHN | VP - MARKETING Highest-paid employee | 40 | $126,000 | $17,225 |
| CAROL CROTEAU | VICE CHAIR Trustee or director, Officer | 0.5 | $0 | $0 |
| MARIE FURTADO | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| MICHAEL MEDLIN | SECRETARY, TREASURER Trustee or director, Officer | 0.5 | $0 | $0 |
| ROBERT SCALETTA | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| RICHARD SILVERIA | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| ROGER SOMER | CHAIR Trustee or director, Officer | 0.5 | $0 | $0 |
990 for the year ended December 31, 2023: 13 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| FARDAD KHOSRAVI | PRESIDENT & CEO Officer | 40 | $332,884 | $101,506 |
| PAUL LINDSLEY | CFO Officer | 40 | $160,272 | $22,196 |
| DAVID CLARK | IT MANAGER Highest-paid employee | 40 | $140,664 | $21,195 |
| KAROLE MORIKAWA | MARKETING MANAGER Highest-paid employee | 40 | $132,810 | $21,802 |
| CYNDEE LEMON | OPERATIONS MANAGER Highest-paid employee | 40 | $129,675 | $24,068 |
| ELSA PHAM | MARKETING MANAGER Highest-paid employee | 0 | $128,530 | $23,736 |
| CAROL CROTEAU | VICE CHAIR Trustee or director, Officer | 0.5 | $0 | $0 |
| MARIE FURTADO | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| MICHAEL MEDLIN | SECRETARY, TREASURER Trustee or director, Officer | 0.5 | $0 | $0 |
| JOHANNA ROCHA | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| ROBERT SCALETTA | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| RICHARD SILVERIA | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| ROGER SOMER | CHAIR Trustee or director, Officer | 0.5 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 1040 LEIGH AVE, SAN JOSE, CA 95126-4129
- Principal officer (990 for 2024)
- FARDAD KHOSRAVI, 1040 LEIGH AVENUE, SAN JOSE, CA 951264152
- Signed the 990
- PAUL LINDSLEY, CHIEF FINANCIAL OFFICER
- Phone
- (408) 275-8595
- Website
- WWW.F3CREDITUNION.COM
- Return prepared by
- RSM US LLP
California records
California keeps its own records of charities and corporations. Search them by EIN 94-0760540 or by the name F3 CREDIT UNION.
- Attorney General, Registry of Charities and Fundraisers
- Registration status and filed reports (CT-TR-1, RRF-1)
- Secretary of State, bizfile Online
- Corporation status, entity number, agent for service
- Franchise Tax Board
- Entity status letter (state tax exemption, good standing)
Mission
F3 CREDIT UNION IS COMMITTED TO CREATING A BETTER LIFE FOR OUR MEMBER OWNERS BY BUILDING FINANCIAL PARTNERSHIPS AND PROVIDING COMPETITIVE SERVICES.
Program accomplishments
- F3 CREDIT UNION (THE CREDIT UNION) PROVIDES CONSUMER FINANCIAL SERVICES TO INDIVIDUALS THAT RESIDE IN SANTA CLARA COUNTY, CALIFORNIA. THE CREDIT UNION PROVIDES A VAST ARRAY OF LOAN PRODUCTS TO MEMBERS AT COMPETITIVE MARKET RATES AND LOWER THAN MARKET FEES. DURING 2024, THE CREDIT UNION PROVIDED A TOTAL OF $37 MILLION IN MEMBER AND PARTICIPATION LOAN DOLLARS.
- F3 CREDIT UNION PROVIDES DEPOSITORY SERVICES TO ITS MEMBERS. DURING 2024, MEMBERS HAD A TOTAL OF $197 MILLION MEMBER SHARE DEPOSITS AT DECEMBER 31, 2024.
- F3 CREDIT UNION'S CAPITAL PERCENTAGE AT DECEMBER 31, 2024 WAS 17.59%. THIS IS GREATER THAN 1.5X THE INDUSTRY REQUIREMENT.
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 March, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | March 31, 2026 | August 17, 2026 | Not on file |
| 2024 | March 31, 2025 | August 15, 2025 | Not on file |
| 2023 | March 31, 2024 | August 15, 2024 | Check at the IRS |
IRS record
- EIN
- 94-0760540
- Tax-exempt status
- 501(c)(14): State-chartered credit union
- Donations deductible
- No
- Exempt since
- 1961
- Accounting year ends
- March
- Files
- Form 990 or 990-EZ
- Group exemption
- 1526: CREDIT UNIONS IN THE STATE OF CALIFORNIA
- Assets (IRS master file)
- $233,387,409
- Income (IRS master file)
- $11,865,118
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $11,865,118 | $10,726,092 | $233,387,409 | IRS |
| 990 | December 2023 | $10,516,194 | $9,018,123 | $236,503,849 | XML |
| 990 | December 2022 | $7,633,896 | $6,796,679 | $239,600,553 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | 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 94-0760540).
Questions about F3 CREDIT UNION
- What is the EIN of F3 CREDIT UNION?
- The employer identification number (EIN) of F3 CREDIT UNION is 94-0760540.
- Is F3 CREDIT UNION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(14) since 1961.
- Are donations to F3 CREDIT UNION tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does F3 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 F3 CREDIT UNION due?
- The return for tax year 2025 (the year ending March 31, 2026) is due August 17, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did F3 CREDIT UNION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of F3 CREDIT UNION?
- The 990 for the year ended December 31, 2024 names FARDAD KHOSRAVI.
- Who are the officers and directors of F3 CREDIT UNION?
- The 990 for the year ended December 31, 2024 lists 12 people; 6 received compensation from the organization, the highest $352,948 (FARDAD KHOSRAVI, PRESIDENT & CEO).
- How much revenue does F3 CREDIT UNION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $11,865,118, expenses of $10,726,092 and total assets of $233,387,409 at year end.
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