Canvas Credit Union
Nonprofit profile at a glance
- EIN
- 846023137
- IRS 990 coverage
- 2010–2024
- Official website data refreshed
- Jul 2026
- Forms available
- Form 990 2024
- Location
- Englewood, CO, United States
- Phone
- 303.691.2345
- Rating confidence
- Limited
Reported finances
- Revenue
- $360,602,257
- Expenses
- $336,830,861
- Assets
- $4,585,707,238
- Liabilities
- $4,150,196,310
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
23 people listed
Executive titles in this filing
- DARRYL MARKSBERRY (FORMER CEO)
- CHAD SHANE (CEO)
Highest reported compensation
- DARRYL MARKSBERRY (FORMER CEO): $4,479,487 total reported compensation
- COLLEEN KNOLL (CFO): $1,950,959 total reported compensation
- CHAD SHANE (CEO): $1,501,031 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
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.
What it reported doing in 2024
The credit union is owned by approximately 305,000 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.
Operating model
- Revenue model
- Earned-program. 97% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
The verdict
- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.
Rating breakdown
- Financial Efficiency: NotEnoughData
- Transparency & Controls: 82
- Accountability: 95
- Sustainability: 60
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: Limited
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 92.9%; rating input score 93; 17th percentile among comparable filings
- Pay-setting controls: 4 of 6 controls in place; rating input score 67
- Compensation committee: Pass
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Pass
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 97.6%; rating input score 98; 33rd percentile among comparable filings
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 77th percentile among comparable filings
- Governance controls: 8 of 9 controls in place; rating input score 89
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 6.6%; rating input score 63; 63rd percentile among comparable filings
- Total-asset coverage ratio: 13.61; rating input score 93; 93rd percentile among comparable filings
- Liabilities to assets ratio: 0.91; rating input score 12; 12th percentile among comparable filings
- Officer compensation ratio: 4.9%; rating input score 17; 17th percentile among comparable filings
Growth
- Program expense growth: 35.7% per year; rating input score 100; 97th percentile among comparable filings
- Revenue growth: 12.8% per year; rating input score 100; 85th percentile among comparable filings
- Asset growth: 11.4% per year; rating input score 100; 76th percentile among comparable filings
Details
- What they do: 1 operating location identified
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 9 of 9 board members independent · 8 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $336.8M in reported program spending
- Leadership: top reported pay $4.5M · 23 people listed · 4 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $14.2M reported
- Consistency: 12 of 13 current checks pass · 1 finding to review
- Schedules: 6 filed schedules · includes grants and executive pay
- Filing history: 12 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 66 filed money-flow records
- Related organizations: 23 filed related-organization links
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
- Review — Accountability: Governance controls: Form 990 shared with the board not reported.
- High — Sustainability: Liabilities to assets ratio scored 12/100.
- High — Sustainability: Officer compensation ratio scored 17/100.