COLLINS COMMUNITY CREDIT UNION: Form 990, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- COLLINS COMMUNITY CREDIT UNION (EIN 42-0190489)
- Tax period
- 2023-01-01 to 2023-12-31
- Filed
- 2024-08-28
- IRS object ID
- 202442419349300809
- Schema version
- 2023v5.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2024-08-28T13:22:53-05:00 | ReturnTs |
| Tax Period End | 2023-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 420714325 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RSM US LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4650 EAST 53RD STREET | AddressLine1Txt |
| City | DAVENPORT | CityNm |
| State Abbreviation | IA | StateAbbreviationCd |
| ZIP | 528073479 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2023-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 420190489 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | COLLINS COMMUNITY CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | COLL | BusinessNameControlTxt |
| Phone | 3193939000 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 10500 | AddressLine1Txt |
| City | CEDAR RAPIDS | CityNm |
| State Abbreviation | IA | StateAbbreviationCd |
| ZIP | 52410 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | BENJAMIN WICKUM | PersonNm |
| Person Title | CHIEF FINANCIAL OFFICER | PersonTitleTxt |
| Phone | 3193939000 | PhoneNum |
| Signature | 2024-08-27 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | 0 | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | JENIFER L CHASE | PreparerPersonNm |
| PTIN | P01306883 | PTIN |
| Phone | 5638884000 | PhoneNum |
| Preparation | 2024-08-27 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2024-08-08 14:25:15Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | SANDRA VAUGHAN | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 10500 | AddressLine1Txt |
| City | CEDAR RAPIDS | CityNm |
| State Abbreviation | IA | StateAbbreviationCd |
| ZIP | 52410 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $91,611,972 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.COLLINSCU.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1940 | FormationYr |
| Legal Domicile State | IA | LegalDomicileStateCd |
| Activity Or Mission | OUR MISSION IS TO DEVOTE OURSELVES TO FINANCIAL SUCCESS FOR ALL. | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 8 | VotingMembersIndependentCnt |
| Total Employee | 344 | TotalEmployeeCnt |
| Total Volunteers | 9 | TotalVolunteersCnt |
| Total Gross UBI | $1,060,284 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $72,190,292 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $81,046,972 | CYProgramServiceRevenueAmt |
| PY Investment Income | $4,692,858 | PYInvestmentIncomeAmt |
| CY Investment Income | $8,098,197 | CYInvestmentIncomeAmt |
| PY Other Revenue | $3,020,947 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $79,904,097 | PYTotalRevenueAmt |
| CY Total Revenue | $89,145,169 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $211,456 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $247,007 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $29,066,832 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $21,828,947 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $45,777,911 | PYOtherExpensesAmt |
| CY Other Expenses | $67,024,246 | CYOtherExpensesAmt |
| PY Total Expenses | $75,056,199 | PYTotalExpensesAmt |
| CY Total Expenses | $89,100,200 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $4,847,898 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $44,969 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $1,651,469,232 | TotalAssetsBOYAmt |
| Total Assets EOY | $1,623,197,471 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $1,557,083,044 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $1,524,502,623 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $94,386,188 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $98,694,848 | NetAssetsOrFundBalancesEOYAmt |
| Mission | OUR MISSION IS TO DEVOTE OURSELVES TO FINANCIAL SUCCESS FOR ALL. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | COLLINS COMMUNITY CREDIT UNION PROVIDES A FULL RANGE OF FINANCIAL PRODUCTS AND SERVICES TO ANYONE WHO LIVES OR WORKS IN BLACK HAWK, DUBUQUE, LINN, JOHNSON, POLK AND THE SURROUNDING COUNTIES. SERVICES INCLUDE, BUT ARE NOT LIMITED TO, FINANCIAL DEPOSITS AND LOAN AND SERVICE ACCOUNTS. | Desc |
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | Yes (1) | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | Yes (1) | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | Yes (1) | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | Yes (1) | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | Yes (1) | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (1) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | Yes (1) | TransactionWithControlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 54544 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 344 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 9 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 8 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | 0 | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | 0 | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | Yes (1) | InvestmentInJointVentureInd |
| Written Policy Or Procedure | 0 | WrittenPolicyOrProcedureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FINANCE DEPARTMENT - COLLINS CCU | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 3193939000 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 10500 | AddressLine1Txt |
| City | CEDAR RAPIDS | CityNm |
| State Abbreviation | IA | StateAbbreviationCd |
| ZIP | 52410 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (20 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| ECHO BATSON | ||||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| JON BUSE | ||||||||
| VICE CHAIRPERSON | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | ||
| KARL CASSELL | ||||||||
| FINANCIAL OFFICER | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | ||
| HEATHER FRIEDMAN | ||||||||
| SECRETARY | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | ||
| SUSAN NELSON | ||||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| ALEJANDRO PINO | ||||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| JEREMY PRICE | ||||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| MARSHA SCHULTE | ||||||||
| CHAIRPERSON | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | ||
| RUE PATEL | ||||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| STEFANIE RUPERT | ||||||||
| FORMER PRESIDENT/CHIEF EXECUTIVE OFFICER | 40.00 | $455,208 | $0 | $43,188 | Yes (X) | |||
| BENJAMIN WICKUM | ||||||||
| CHIEF FINANCIAL OFFICER | 40.00 | $272,475 | $0 | $42,611 | Yes (X) | |||
| SANDRA VAUGHN | ||||||||
| INTERIM CHIEF EXECUTIVE OFFICER | 40.00 | $245,311 | $0 | $32,774 | Yes (X) | |||
| WILLIAM PARKINSON | ||||||||
| PRESIDENT PREFUNDING CUSO | 40.00 | $267,937 | $0 | $34,405 | Yes (X) | |||
| JOHN LEWIS | ||||||||
| VICE PRESIDENT IT/FACILITIES | 40.00 | $211,640 | $0 | $38,280 | Yes (X) | |||
| RANDY JOHNSON | ||||||||
| SENIOR VP COMMERCIAL SERVICES | 40.00 | $269,043 | $0 | $117,687 | Yes (X) | |||
| CHAD KELLOG | ||||||||
| VP COMMERICAL SERVICES | 40.00 | $231,298 | $0 | $89,378 | Yes (X) | |||
| ERICSON HILBUN | ||||||||
| FORMER DIRECTOR WEALTH MANAGEMENT | 40.00 | $206,014 | $0 | $40,214 | Yes (X) | |||
| THOMAS AXVIG | ||||||||
| MORTGAGE LOAN OFFICER | 40.00 | $197,261 | $0 | $36,842 | Yes (X) | |||
| JEFFREY HINES | ||||||||
| VP COMMERICAL SERVICES | 40.00 | $203,286 | $0 | $130,503 | Yes (X) | |||
| MICHAEL FLETCHER | ||||||||
| VP COMMERICAL SERVICES | 40.00 | $186,991 | $0 | $99,964 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $2,746,464 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $705,846 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 33 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| FREW DEVELOPMENT GROUP LLC | |||||
| 2811 WILEY BLVD SW SUITE K | CEDAR RAPIDS | IA | 52404 | CONSTRUCTION | $8,491,206 |
| FISERV | |||||
| 75 REMITTANCE DR SUITE 1649 | CHICAGO | IL | 606751649 | EXTERNAL DATA PROCESSING | $3,027,733 |
| SHAZAM | |||||
| 6700 PIONEER PARKWAY | JOHNSTON | IA | 50131 | EXTERNAL DATA PROCESSING | $682,839 |
| PLAID SWAN INC | |||||
| PO BOX 1623 | DUBUQUE | IA | 52002 | ADVERTISING | $599,041 |
| BRADLEY & RILEY PC | |||||
| 2007 FIRST AVENUE SE PO BOX 2804 | CEDAR RAPIDS | IA | 52406 | LEGAL | $561,041 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 35 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| INCOME ON LOANS | 522100 | $59,333,310 | $58,352,097 | $981,213 |
| FEES/CHARGES/OTHER INCOME | 522100 | $21,713,662 | $21,634,591 | $79,071 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $81,046,972 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $9,252,235 | TotalRevenueColumnAmt |
| Exclusion | $9,252,235 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $1,312,765 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $2,466,803 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | -$1,154,038 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$1,154,038 | TotalRevenueColumnAmt |
| Exclusion | -$1,154,038 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $89,145,169 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $79,986,688 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $1,060,284 | UnrelatedBusinessRevenueAmt |
| Exclusion | $8,098,197 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $237,007 | TotalAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $10,000 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,030,560 | TotalAmt |
Comp Disqual Persons CompDisqualPersonsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $60,996 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $14,668,078 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,318,804 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,558,301 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,192,208 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $315,505 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $411,180 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,093,342 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,000,794 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,805,604 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,853,485 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,634,062 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $87,778 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $10,900 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $10,824,928 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,691,799 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $288,220 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| DIVIDENDS PAID TO MEMBE | $24,362,835 |
| LOAN SERVICES | $9,904,144 |
| DEBIT AND CREDIT EXPENS | $1,430,895 |
| ATM EXPENSE | $723,111 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,585,664 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $89,100,200 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $12,583,582 | BOYAmt |
| EOY | $9,166,212 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $39,300,021 | BOYAmt |
| EOY | $86,364,939 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,000 | BOYAmt |
| EOY | $750 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $14,451,832 | BOYAmt |
| EOY | $17,831,807 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,286,073,280 | BOYAmt |
| EOY | $1,214,170,128 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,207,758 | BOYAmt |
| EOY | $5,138,910 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $94,927,145 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $27,420,629 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $58,489,799 | BOYAmt |
| EOY | $67,506,516 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $133,503,804 | BOYAmt |
| EOY | $124,198,442 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $37,260,232 | BOYAmt |
| EOY | $37,196,560 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,507,293 | BOYAmt |
| EOY | $6,296,753 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $57,090,631 | BOYAmt |
| EOY | $55,326,454 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,651,469,232 | BOYAmt |
| EOY | $1,623,197,471 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $19,777,270 | BOYAmt |
| EOY | $11,624,937 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,720,996 | BOYAmt |
| EOY | $9,777,306 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $236,497,622 | BOYAmt |
| EOY | $217,573,179 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,290,087,156 | BOYAmt |
| EOY | $1,285,527,201 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,557,083,044 | BOYAmt |
| EOY | $1,524,502,623 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $94,386,188 | BOYAmt |
| EOY | $98,694,848 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $94,386,188 | BOYAmt |
| EOY | $98,694,848 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,651,469,232 | BOYAmt |
| EOY | $1,623,197,471 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $44,969 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $3,415,010 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $848,681 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | 0 | AgentTrusteeEtcInd |
| Incl Escrow Custodial Acct Liab | Yes (1) | InclEscrowCustodialAcctLiabInd |
| Explanation Provided | Yes (X) | ExplanationProvidedInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $10,869,838 | OtherCostOrOtherBasisAmt |
| Book Value | $10,869,838 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $49,073,324 | OtherCostOrOtherBasisAmt |
| Depreciation | $10,124,627 | DepreciationAmt |
| Book Value | $38,948,697 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $17,124,197 | OtherCostOrOtherBasisAmt |
| Depreciation | $4,297,234 | DepreciationAmt |
| Book Value | $12,826,963 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $16,080,613 | OtherCostOrOtherBasisAmt |
| Depreciation | $11,711,007 | DepreciationAmt |
| Book Value | $4,369,606 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,779,173 | OtherCostOrOtherBasisAmt |
| Depreciation | $1,287,761 | DepreciationAmt |
| Book Value | $491,412 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $67,506,516 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (6 entries)
| DescDesc | AmtAmt |
|---|---|
| SHARE ACCOUNTS | $214,063,953 |
| MONEY MARKET ACCOUNTS | $304,638,798 |
| IRA | $8,262,044 |
| SHARE DRAFT ACCOUNTS | $320,425,843 |
| CD AND IRA CD | $436,823,580 |
| DUE TO CUSOS | $1,312,983 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $1,285,527,201 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART IV, LINE 2B: | COLLINS COMMUNITY CREDIT UNION COLLECTS AMOUNTS FROM MEMBERS WITH REAL ESTATE LOANS EACH MONTH VIA THEIR CONTRACTUAL PAYMENT SCHEDULE. THESE FUNDS ARE HELD IN ESCROW UNTIL THEY NEED TO BE DISBURSED IN ACCORDANCE WITH THE ESCROW INSTRUCTIONS FOR EACH MEMBER. AMOUNTS HELD IN ESCROW ARE FOR PROPERTY TAXES AND HOMEOWNER'S INSURANCE. |
| PART X, LINE 2: | COLLINS COMMUNITY CREDIT UNION (THE CREDIT UNION) IS EXEMPT, BY STATUTE (INTERNAL REVENUE CODE SECTION 501(C)14), FROM FEDERAL AND STATE INCOME TAXES. THE CREDIT UNION SERVICE ORGANIZATIONS (CUSO) ARE ORGANIZED AS LIMITED LIABILITY COMPANIES (LLCS). THE HOLDING COMPANY HAS BEEN ORGANIZED AS A SINGLE-OWNER LLC AND IS CONSIDERED A DISREGARDED ENTITY FOR TAX PURPOSES. THE CREDIT UNION ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES IN ACCORDANCE WITH ACCOUNTING STANDARDS CODIFICATION (ASC) 740, WHICH ADDRESSES THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN, SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. UNDER THIS GUIDANCE, THE CREDIT UNION MAY RECOGNIZE THE TAX BENEFITS FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES, BASED ON TECHNICAL MERITS OF THE POSITION. THE TAX BENEFITS RECOGNIZED IN THE FINANCIAL STATEMENTS FROM SUCH A POSITION ARE BEING MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THE GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ALSO ADDRESSES DE-RECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES ON INCOME TAXES, AND ACCOUNTING IN INTERIM PERIODS. THIS STANDARD DID NOT HAVE AN IMPACT ON THE FINANCIAL STATEMENTS AND THE CREDIT UNION BELIEVES IT DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | 0 | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (3 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Non Cash AssistanceNonCashAssistanceAmt | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|---|
| JDRF INTERNATIONAL | ||||||||
| 200 VESEY STREET 28TH FLOOR | NEW YORK | NY | 10281 | 231907729 | 501(C)(3) | $7,500 | $0 | JDRF SPONSORSHIP |
| MARION ECONOMIC DEVELOPMENT COMPANY | ||||||||
| 1225 6TH AVENUE STE 100 | MARION | IA | 52302 | 421318828 | 501(C)(6) | $6,050 | $0 | GENERAL SUPPORT |
| IOWA CITY DOWNTOWN DISTRICT | ||||||||
| 103 COLLEGE ST | IOWA CITY | IA | 52240 | 421376887 | 501(C)(6) | $10,772 | $0 | GENERAL SUPPORT |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 1 | Total501c3OrgCnt |
| Total Other Org | 2 | TotalOtherOrgCnt |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Type | SCHOLARSHIPS | GrantTypeTxt |
| Recipient | 3 | RecipientCnt |
| Cash Grant | $10,000 | CashGrantAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | COLLINS COMMUNITY CREDIT UNION ISSUES ALL GRANT FUNDS DIRECTLY TO THE RECIPIENT ORGANIZATION FOR USE AT THEIR DISCRETION. INDIVIDUALS MUST APPLY AND WRITE AN ESSAY TO BE CONSIDERED FOR A SCHOLARSHIP. COLLINS COMMUNITY CREDIT UNION THEN ISSUES SCHOLARSHIP FUNDS DIRECTLY TO THE INDIVIDUAL TO BE USED AT THEIR DISCRETION. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Idemnification Gross Up Pmts | Yes (X) | IdemnificationGrossUpPmtsInd |
| Club Dues Or Fees | Yes (X) | ClubDuesOrFeesInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | Yes (1) | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (1) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (11 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| STEFANIE RUPERT | ||||||||||||||
| FORMER PRESIDENT/CHIEF EXECUTIVE OFF | $260,902 | $0 | $0 | $0 | $194,306 | $0 | $27,493 | $0 | $15,695 | $0 | $498,396 | $0 | $0 | $0 |
| RANDY JOHNSON | ||||||||||||||
| SENIOR VP COMMERCIAL SERVICES | $226,300 | $0 | $25,000 | $0 | $17,743 | $0 | $91,066 | $0 | $26,621 | $0 | $386,730 | $0 | $0 | $0 |
| JEFFREY HINES | ||||||||||||||
| VP COMMERICAL SERVICES | $170,521 | $0 | $13,000 | $0 | $19,765 | $0 | $104,182 | $0 | $26,321 | $0 | $333,789 | $0 | $0 | $0 |
| CHAD KELLOG | ||||||||||||||
| VP COMMERICAL SERVICES | $190,780 | $0 | $20,000 | $0 | $20,518 | $0 | $70,528 | $0 | $18,850 | $0 | $320,676 | $0 | $0 | $0 |
| BENJAMIN WICKUM | ||||||||||||||
| CHIEF FINANCIAL OFFICER | $260,054 | $0 | $0 | $0 | $12,421 | $0 | $24,262 | $0 | $18,349 | $0 | $315,086 | $0 | $0 | $0 |
| WILLIAM PARKINSON | ||||||||||||||
| PRESIDENT PREFUNDING CUSO | $253,928 | $0 | $9,917 | $0 | $4,092 | $0 | $16,515 | $0 | $17,890 | $0 | $302,342 | $0 | $0 | $0 |
| MICHAEL FLETCHER | ||||||||||||||
| VP COMMERICAL SERVICES | $163,023 | $0 | $13,000 | $0 | $10,968 | $0 | $77,336 | $0 | $22,628 | $0 | $286,955 | $0 | $0 | $0 |
| SANDRA VAUGHN | ||||||||||||||
| INTERIM CHIEF EXECUTIVE OFFICER | $238,911 | $0 | $0 | $0 | $6,400 | $0 | $20,775 | $0 | $11,999 | $0 | $278,085 | $0 | $0 | $0 |
| JOHN LEWIS | ||||||||||||||
| VICE PRESIDENT IT/FACILITIES | $209,170 | $0 | $0 | $0 | $2,470 | $0 | $19,686 | $0 | $18,594 | $0 | $249,920 | $0 | $0 | $0 |
| ERICSON HILBUN | ||||||||||||||
| FORMER DIRECTOR WEALTH MANAGEMENT | $92,463 | $0 | $107,706 | $0 | $5,845 | $0 | $19,105 | $0 | $21,109 | $0 | $246,228 | $0 | $0 | $0 |
| THOMAS AXVIG | ||||||||||||||
| MORTGAGE LOAN OFFICER | $49,500 | $0 | $140,864 | $0 | $6,897 | $0 | $17,091 | $0 | $19,751 | $0 | $234,103 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART I, LINE 1A | IN TAX YEAR 2023, COLLINS COMMUNITY CREDIT UNION (THE CREDIT UNION) PROVIDED TAX INDEMNIFICATION AND GROSS-UP PAYMENTS TO BENJAMIN WICKUM, RANDY JOHNSON, CHAD KELLOGG, JEFFREY HINES, AND MICHAEL FLETCHER. THE CREDIT UNION ALSO PROVIDED HEALTH AND SOCIAL CLUB DUES TO STEPHANIE RUPERT, BENJAMIN WICKUM, RANDY JOHNSON, CHAD KELLOGG, JEFFREY HINES, AND MICHAEL FLETCHER. BOTH OF THESE BENEFITS ARE INCLUDED IN THEIR PART VII AND SCHEDULE J REPORTABLE COMPENSATION. |
| PART I, LINE 4A: | COLLINS COMMUNITY CREDIT UNION (THE CREDIT UNION) PAID STEFANIE RUPERT, FORMER CHIEF EXECUTIVE OFFICER, $83,939 IN SEVERANCE PAYMENTS DURING CALENDAR YEAR 2023. THE CREDIT UNION ALSO PAID ERICSON HILBUN, FORMER DIRECTOR WEALTH MANAGEMENT, $5,769 IN SEVERANCE PAYMENTS DURING CALENDAR YEAR 2023. THESE AMOUNTS ARE REPORTED ON FORM 990, PART VII AND SCHEDULE J, PART II AS OTHER REPORTABLE COMPENSATION. |
| PART I, LINE 4B: | THE FOLLOWING EXECUTIVES PARTICIPATED IN A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN (SERP) SPONSORED BY COLLINS COMMUNITY CREDIT UNION. THERE WERE NO CONTRIBUTIONS TO OR DISTRIBUTIONS FROM THE SERP PLAN. THE DEFINED BENEFIT ACCRUAL AMOUNTS SHOWN BELOW ARE INCLUDED ON FORM 990, PART VII AND SCHEDULE J, PART II: MICHAEL FLETCHER - $60,000 DEFINED BENEFIT ACCRUAL JEFFREY HINES - $85,714 DEFINED BENEFIT ACCRUAL RANDY JOHNSON - $66,667 DEFINED BENEFIT ACCRUAL CHAD KELLOGG - $50,000 DEFINED BENEFIT ACCRUAL |
Schedule L IRS990ScheduleL
Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp (4 entries)
| Relationship With OrgRelationshipWithOrgTxt | Loan PurposeLoanPurposeTxt | Loan From OrganizationLoanFromOrganizationInd | Original PrincipalOriginalPrincipalAmt | Balance DueBalanceDueAmt | DefaultDefaultInd | Board Or Committee ApprovalBoardOrCommitteeApprovalInd | Written AgreementWrittenAgreementInd |
|---|---|---|---|---|---|---|---|
| BENJAMIN WICKUM | |||||||
| OFFICER | COLLATERAL ASSIGNED SPLIT DOLLAR LIFE INSURANCE POLICY | Yes (X) | $6,012,985 | $4,017,263 | 0 | Yes (1) | Yes (1) |
| JOHN LEWIS | |||||||
| KEY EMPLOYEE | COLLATERAL ASSIGNED SPLIT DOLLAR LIFE INSURANCE POLICY | Yes (X) | $3,444,000 | $2,489,283 | 0 | Yes (1) | Yes (1) |
| SANDRA VAUGHN | |||||||
| OFFICER | COLLATERAL ASSIGNED SPLIT DOLLAR LIFE INSURANCE POLICY | Yes (X) | $4,100,000 | $2,244,907 | 0 | Yes (1) | Yes (1) |
| STEFANIE RUPERT | |||||||
| FORMER OFFICER | COLLATERAL ASSIGNED SPLIT DOLLAR LIFE INSURANCE POLICY | Yes (X) | $13,400,167 | $9,080,354 | 0 | Yes (1) | Yes (1) |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | $17,831,807 | TotalBalanceDueAmt |
Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp
Name Of Interested NameOfInterested
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | JOHN HUNTER SCHULTE | PersonNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Relationship Description | FAMILY MEMBER OF MARSHA SCHULTE | RelationshipDescriptionTxt |
| Transaction | $60,996 | TransactionAmt |
| Transaction | COMPENSATION | TransactionDesc |
| Sharing Of Revenues | 0 | SharingOfRevenuesInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | FORM 990, SCH L, PART II: | FormAndLineReferenceDesc |
| Explanation | COLLINS COMMUNITY CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS THROUGH AN ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR." ALTHOUGH THE INTERNAL REVENUE SERVICE REQUIRES REPORTING IN PART II AS A LOAN TO AN INTERESTED PARTY, THESE ARE NON-TRADITIONAL LOANS IN THAT THE RECIPIENT CONTROLS WHERE THE LOAN PROCEEDS ARE BEING SENT. LOAN PROCEEDS ARE SOLELY FOR THE PAYMENT OF REGULARLY SCHEDULED PRINCIPAL PAYMENTS. THERE IS NO TRANSFER OF FUNDS TO THE PARTICIPANTS. INSTEAD THE CREDIT UNION RECOVERS ANY OUTLAYS, PLUS INTEREST, FROM THE UNDERLYING POLICY. THAT IS, THE CREDIT UNION DEPOSITS FUNDS DIRECTLY INTO A LIFE INSURANCE POLICY TO ENSURE REPAYMENT. AT SPECIFIED TIMES, THE PARTICIPANTS MAY BORROW FUNDS FROM THE CASH SURRENDER VALUE OF THE POLICY TO SUPPLEMENT RETIREMENT INCOME. THE BORROWINGS ARE MONITORED TO ENSURE THE POLICY WILL PAY A DEATH BENEFIT AT LEAST SUFFICIENT TO COVER THE CREDIT UNION'S OUTLAYS PLUS INTEREST. ANY REMAINING DEATH BENEFITS ARE PROVIDED TO THE PARTICIPANT'S BENEFICIARIES AS AGREED UPON. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (9 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | COLLINS COMMUNITY CREDIT UNION HAS MEMBERS AS SPECIFIED BY THEIR BYLAWS. |
| FORM 990, PART VI, SECTION A, LINE 7A | COLLINS COMMUNITY CREDIT UNION MEMBERS HAVE THE POWER TO ELECT THE BOARD OF DIRECTORS AT THE ANNUAL MEETING. |
| FORM 990, PART VI, SECTION A, LINE 8B | COLLINS COMMUNITY CREDIT UNION DOES NOT HAVE COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE FORM 990 WILL BE REVEIWED BY THE CHEIF FINANCIAL OFFICER PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. |
| FORM 990, PART VI, SECTION B, LINE 12C | COLLINS COMMUNITY CREDIT UNION'S (THE CREDIT UNION) CONFLICT OF INTEREST POLICY IS APPLICABLE TO DIRECTORS, OFFICERS, AND EMPLOYEES. ALL NEW EMPLOYEES AND BOARD OF DIRECTORS MUST READ AND SIGN A CREDIT UNION BRIBERY POLICY THAT OUTLINES EMPLOYEE AND DIRECTOR CODE OF CONDUCT AND REQUIRES DISCLOSURE OF ANY CONFLICTS OF INTEREST. A CONFLICT OF INTEREST ARISES WHENEVER THE EMPLOYEE HAS THE OPPORTUNITY TO INFLUENCE THE CREDIT UNION'S OPERATIONS OR BUSINESS DECISIONS IN WAYS THAT COULD RESULT IN A PERSONAL FINANCIAL BENEFIT TO THE EMPLOYEE OR A MEMBER OF AN EMPLOYEE'S IMMEDIATE FAMILY. THE CREDIT UNION CONSISTENTLY MONITORS AND ENFORCES THE POLICY THROUGH AN ANNUAL DISCLOSURE THAT IS PROVIDED SHORTLY AFTER EVERY ANNUAL MEETING. THESE DISCLOSURES ARE REVIEWED BY HUMAN RESOURCES, WITH ANY POTENTIAL CONFLICTS ESCALATED TO THE AUDIT COMMITTEE OR BOARD OF DIRECTORS. POTENTIAL CONFLICTS ARE DISCUSSED AND RESEARCHED TO DETERMINE THE EXTENT OF THE POTENTIAL CONFLICT. CORRECTIVE ACTION IS TAKEN TO REMOVE THE CONFLICT OR REMOVE THE INDIVIDUAL FROM THE ROLE/RESPONSIBILITY. |
| FORM 990, PART VI, SECTION B, LINE 15 | COLLINS COMMUNITY CREDIT UNION CREATED A HUMAN RESOURCES COMMITTEE THAT IS LED BY THE VICE PRESIDENT OF HUMAN RESOURCES AND INCLUDES AN EXTERNAL BOARD MEMBER. THE HUMAN RESOURCES COMMITTEE WORKS WITH AN EXTERNAL PARTY TO OBTAIN COMPENSATION INFORMATION AND COMPARABLE DATA FROM WITHIN THE INDUSTRY AND ACROSS A BROADER SPECTRUM WITHIN THE GEOGRAPHIC REGION. THE HUMAN RESOURCES COMMITTEE WILL THEN PROVIDE RECOMMENDATIONS TO THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS THAT WILL REVIEW AND APPROVE THE CHIEF EXECUTIVE OFFICER'S COMPENSATION. THE COMPENSATION DECISIONS ARE CONTEMPORANEOUSLY DOCUMENTED IN THE EXECUTIVE COMMITTEE BOARD MINUTES. THIS PROCESS LAST OCCURED IN JULY 2023. COMPENSATION FOR OTHER OFFICERS AND KEY EMPLOYEES IS THEN DETERMINED BY THE CHIEF EXECUTIVE OFFICER BASED ON PERFORMANCE REVIEWS AND COMPETITOR COMPARISONS. THE CHIEF EXECUTIVE OFFICER USES CREDIT UNION NATIONAL ASSOCIATION (CUNA) WAGES SURVEYS, OTHER MARKET SURVEYS, AND 990 REPORTS FROM COMPARABLE ORGANIZATIONS WHEN DETERMINING COMPENSATION OF THE OTHER OFFICERS AND KEY EMPLOYEES. THE COMPENSATION DECISIONS ARE CONTEMPORANEOUSLY DOCUMENTED IN THE EXECUTIVE COMMITTEE BOARD MINUTES. THIS PROCESS LAST OCCURED IN JULY 2023. |
| FORM 990, PART VI, SECTION C, LINE 19 | COLLINS COMMUNITY CREDIT UNION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND AUDITED FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST IN THE SAME TIME AND MANNER AS OTHER DISCLOSURES REQUIRED UNDER INTERNAL REVENUE CODE SECTION 6104. |
| FORM 990, PART XI, LINE 9: | CURRENT YEAR CHANGE IN DEFINED BENEFIT PENSION PLAN 788,184. CURRENT YEAR CHANGE IN POSTRETIREMENT BENEFIT PLAN -176,322. CHANGE IN NONCONTROLLING INTEREST IN SUBSIDIARY 164,983. CURRENT EXPECTED CREDIT LOSS IMPLEMENTATION 71,836. |
| FORM 990, PART XII, LINE 2C: | THE OVERSIGHT AND SELECTION PROCESS HAS NOT CHANGED FROM THE PRIOR TAX YEAR. |
Schedule R IRS990ScheduleR
Id Disregarded Entities IdDisregardedEntitiesGrp (5 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Total IncomeTotalIncomeAmt | End Of Year AssetsEndOfYearAssetsAmt | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt |
|---|---|---|---|---|---|---|---|---|---|
| 1150 PROPERTIES LLC | |||||||||
| PO BOX 10500 | CEDAR RAPIDS | IA | 52410 | 420190489 | INACTIVE | IA | $0 | $0 | COLLINS COMMUNITY CU |
| COLLINS HOLDING COMPANY CUSO LLC | |||||||||
| PO BOX 10500 | CEDAR RAPIDS | IA | 52410 | 831864057 | HOLDING COMPANY | IA | $0 | $26,350,032 | COLLINS COMMUNITY CU |
| COLLINS LOAN SERVICES LLC | |||||||||
| PO BOX 10500 | CEDAR RAPIDS | IA | 52410 | 831888678 | COMMERCIAL LOANS | IA | $1,601,557 | $57,859,451 | COLLINS HOLDING COMPANY |
| COURSEMARK LLC | |||||||||
| PO BOX 10500 | CEDAR RAPIDS | IA | 52410 | 861904712 | EXECUTIVE BENEFITS | IA | -$741,058 | $571,931 | COLLINS HOLDING COMPANY |
| COLLINS INSURANCE SERVICES | |||||||||
| PO BOX 10500 | CEDAR RAPIDS | IA | 52410 | 834368530 | INSURANCE SERVICES | IA | $215,742 | $6,559,082 | COLLINS HOLDING COMPANY |
Id Related Org Txbl Partnership IdRelatedOrgTxblPartnershipGrp
Related Organization Name RelatedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NORTHTOWNE MARKET LOT 7 LLC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 10500 | AddressLine1Txt |
| City | CEDAR RAPIDS | CityNm |
| State Abbreviation | IA | StateAbbreviationCd |
| ZIP | 52410 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 831991439 | EIN |
| Primary Activities | PROPERTY MANAGEMENT | PrimaryActivitiesTxt |
| Legal Domicile State | IA | LegalDomicileStateCd |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | COLLINS HOLDING COMPANY CUSO LLC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Predominant Income Type | RELATED | PredominantIncomeTypeTxt |
| Share Of Total Income | $494,950 | ShareOfTotalIncomeAmt |
| Share Of EOY Assets | $11,854,015 | ShareOfEOYAssetsAmt |
| Disproportionate Allocations | 0 | DisproportionateAllocationsInd |
| General Or Managing Partner | 0 | GeneralOrManagingPartnerInd |
| Ownership | 0.75000 | OwnershipPct |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | Yes (1) | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | 0 | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp
Other Organization Name OtherOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NORTHTOWNE MARKET LOT 7 LLC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Transaction Type | K | TransactionTypeTxt |
| Involved | $1,209,706 | InvolvedAmt |
| Method Of Amount Determination | FAIR MARKET VALUE | MethodOfAmountDeterminationTxt |