Credit Unions Chartered in the State of Michigan 48 Lake Michigan Credit Union
Grand Rapids, MI · EIN 38-1215360 · Rank 732 by total revenue
Promotion of thrift and providing low cost credit and other financial services for its members through mutual and nonprofit organization.
Money, Form 990 for tax year 2025
- Total revenue
- $918,222,007
- Total expenses
- $710,071,392
- Total assets
- $15,952,719,108
- Salary base (all salaries and wages)
- $157,140,119
- Salaries, other pay and benefits
- $188,841,678
- Employees
- 1,758
- Salary base per employee
- $89,386
"Salary base" is Form 990 Part IX lines 5 to 7. "Employees" is everyone who got a W-2 that year, full or part time. Form 990-EZ and 990-PF report pay differently; see About the data.
Leadership (22)
| Name | Title | Role | Hours/week | Total pay |
|---|---|---|---|---|
| Julie Leonard | CEO | Officer | 40 | $1,901,498 |
| Eric Burgoon | CHIEF EXPERIENCE | Officer | 40 | $952,943 |
| Christopher Ortega | CIO | Officer | 40 | $488,918 |
| Christi Cowdin | CMO | Officer | 40 | $338,116 |
| Peter Dann | EVP CFO | Key employee | 40 | $837,182 |
| Sara Kemperman | SVP COO | Key employee | 40 | $579,052 |
| James Maskell | SVP CCO | Key employee | 40 | $536,461 |
| Mark Powell | SVP CRO | Key employee | 40 | $528,649 |
| Martin Peltier | CGO | Key employee | 40 | $420,435 |
| Sarah Miklusicak | CPO | Key employee | 40 | $292,185 |
| Kaylee Raffa | CSG | Key employee | 40 | $212,690 |
| Jack Newberry | DIRECTOR | Board | 1 | $927 |
| Bob White | DIRECTOR | Board | 1 | $927 |
| Brad Mathis | DIRECTOR | Board | 1 | None reported |
| Timothy Myers | BOARD SECRETARY | Board | 1 | None reported |
| Juan Olivarez | BOARD VICE CHAIRPERSON | Board | 1 | None reported |
| Bob Partridge | DIRECTOR | Board | 1 | None reported |
| Mike Rice | DIRECTOR | Board | 1 | None reported |
| Gretchen Tellman-Partridge | BOARD CHAIRPERSON | Board | 1 | None reported |
| Dave Bardolph | BOARD TREASURER | Board | 1 | None reported |
| Tim Gortsema | DIRECTOR | Board | 1 | None reported |
| Caitlin Townsend-Lamb | DIRECTOR | Board | 1 | None reported |
Top 10 paid people listed
These 10 people received $10,344,964, which is 6.6% of the $157,140,119 salary base shared by 1,758 employees.
| Name | Title | Role | Hours/week | From this org | From related orgs | Other pay | Total |
|---|---|---|---|---|---|---|---|
| Julie Leonard | CEO | Officer | 40 | $1,876,735 | $0 | $24,763 | $1,901,498 |
| Matthew Adler | MORTGAGE LOAN ORIGINATOR | Highly paid employee | 40 | $1,645,929 | $0 | $23,262 | $1,669,191 |
| Zac Ellerbroek | MORTGAGE LOAN ORIGINATOR | Highly paid employee | 40 | $1,365,209 | $0 | $17,838 | $1,383,047 |
| Eric Burgoon | CHIEF EXPERIENCE | Officer | 40 | $927,596 | $0 | $25,347 | $952,943 |
| Emil Izrailov | MORTGAGE SALES MANAGER FH | Highly paid employee | 40 | $934,271 | $0 | $18,193 | $952,464 |
| Peter Dann | EVP CFO | Key employee | 40 | $810,170 | $0 | $27,012 | $837,182 |
| Luther Trook | MORTGAGE LOAN ORIGINATOR | Highly paid employee | 40 | $796,311 | $0 | $20,798 | $817,109 |
| Jason Ryba | VP REGIONAL MTG PRODUCTION | Highly paid employee | 40 | $691,254 | $0 | $24,763 | $716,017 |
| Sara Kemperman | SVP COO | Key employee | 40 | $562,495 | $0 | $16,557 | $579,052 |
| James Maskell | SVP CCO | Key employee | 40 | $509,544 | $0 | $26,917 | $536,461 |
Sources
- IRS e-file return 202621319349302472 (Form 990, period ending 2025-12-31): readable copy at ProPublica Nonprofit Explorer
- IRS Tax Exempt Organization Search for EIN 38-1215360
- Organization website (as filed): www.lmcu.org