CORNERSTONE CREDIT UNION: Form 990, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- CORNERSTONE CREDIT UNION (EIN 36-2217287)
- Tax period
- 2023-01-01 to 2023-12-31
- Filed
- 2024-11-18
- IRS object ID
- 202443239349300404
- 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 | 2024-11-18T07:45:17-06:00 | ReturnTs |
| Tax Period End | 2023-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 390758449 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | WIPFLI LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4949 HARRISON AVENUE SUITE 300 | AddressLine1Txt |
| City | ROCKFORD | CityNm |
| State Abbreviation | IL | StateAbbreviationCd |
| ZIP | 61108 | 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 | 362217287 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CORNERSTONE CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | CORN | BusinessNameControlTxt |
| Phone | 8152355855 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 550 WEST MEADOWS DRIVE | AddressLine1Txt |
| City | FREEPORT | CityNm |
| State Abbreviation | IL | StateAbbreviationCd |
| ZIP | 610325072 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | GAIL CLORE | PersonNm |
| Person Title | PRESIDENT | PersonTitleTxt |
| Phone | 8152355855 | PhoneNum |
| Signature | 2024-11-18 | 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 | DAVID R SCHROEPFER | PreparerPersonNm |
| PTIN | P00171692 | PTIN |
| Phone | 8153997700 | PhoneNum |
| Preparation | 2024-11-18 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2024-10-15 13:58:12Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | GAIL CLORE | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 550 WEST MEADOWS DRIVE | AddressLine1Txt |
| City | FREEPORT | CityNm |
| State Abbreviation | IL | StateAbbreviationCd |
| ZIP | 610325072 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $7,929,045 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.CORNERSTONECU.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1939 | FormationYr |
| Legal Domicile State | IL | LegalDomicileStateCd |
| Activity Or Mission | CORNERSTONE CREDIT UNION IS A COMMUNITY-FOCUSED FINANCIAL COOPERATIVE COMMITTED TO PROVIDING QUALITY, DIFFERENTIATED SERVICES TO ITS MEMBER-OWNERS. OUR PROFESSIONAL STAFF AND VOLUNTEERS WILL ENSURE FISCAL STABILITY THROUGH RESPONSIBLE LEADERSHIP AND GROWTH. | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 9 | VotingMembersIndependentCnt |
| Total Employee | 40 | TotalEmployeeCnt |
| Total Volunteers | 9 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $6,081,012 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $6,266,582 | CYProgramServiceRevenueAmt |
| PY Investment Income | $884,498 | PYInvestmentIncomeAmt |
| CY Investment Income | $1,654,488 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $6,965,510 | PYTotalRevenueAmt |
| CY Total Revenue | $7,921,070 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $2,466,555 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $2,634,238 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $3,147,271 | PYOtherExpensesAmt |
| CY Other Expenses | $4,734,055 | CYOtherExpensesAmt |
| PY Total Expenses | $5,613,826 | PYTotalExpensesAmt |
| CY Total Expenses | $7,368,293 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $1,351,684 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $552,777 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $145,441,779 | TotalAssetsBOYAmt |
| Total Assets EOY | $142,504,905 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $131,225,100 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $127,840,449 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $14,216,679 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $14,664,456 | NetAssetsOrFundBalancesEOYAmt |
| Mission | CORNERSTONE CREDIT UNION IS A COMMUNITY-FOCUSED FINANCIAL COOPERATIVE COMMITTED TO PROVIDING QUALITY, DIFFERENTIATED SERVICES TO ITS MEMBER-OWNERS. OUR PROFESSIONAL STAFF AND VOLUNTEERS WILL ENSURE FISCAL STABILITY THROUGH RESPONSIBLE LEADERSHIP AND GROWTH. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | PROVIDED FINANCIAL SERVICES TO 9,519 MEMBERS, PROVIDED 4,944 CONSUMER AND REAL ESTATE LOANS, MAINTAINED 18,516 DEPOSIT ACCOUNTS FOR THE BENEFIT OF OUR MEMBERS/OWNERS. | Desc |
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | Yes (1) | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | Yes (1) | 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 | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | 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 | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | 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 | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 1682 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 40 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| 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 | 9 | 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 | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | Yes (1) | LocalChaptersInd |
| Policies Reference Chapters | Yes (1) | PoliciesReferenceChaptersInd |
| 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 | 0 | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | JAMES M COONS | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 8152355855 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 550 WEST MEADOWS DRIVE | AddressLine1Txt |
| City | FREEPORT | CityNm |
| State Abbreviation | IL | StateAbbreviationCd |
| ZIP | 610325072 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (15 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd |
|---|---|---|---|---|---|---|
| GAIL CLORE | ||||||
| PRESIDENT | 40.00 | Yes (X) | $175,445 | $0 | $12,871 | |
| DAVID HOFFERT | ||||||
| VP OF OPERATIONS | 40.00 | Yes (X) | $138,862 | $0 | $11,572 | |
| JIM COONS | ||||||
| VP OF FINANCE | 40.00 | Yes (X) | $121,249 | $0 | $27,217 | |
| SCOTT ARNOLD | ||||||
| VP OF LENDING | 40.00 | Yes (X) | $114,383 | $0 | $23,196 | |
| CHARLES BEYER | ||||||
| CHAIR | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) |
| DANIEL SCHOAF | ||||||
| VICE CHAIR/TREASURER | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) |
| CARLA HOMAN | ||||||
| TREASURER (THRU 5/23/23) | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) |
| VALERIE ROTHERMEL-NELSON | ||||||
| SECRETARY | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) |
| RANDY CHURCH | ||||||
| DIRECTOR | 1.00 | $0 | $0 | $0 | Yes (X) | |
| JODI DIFFENDERFER | ||||||
| DIRECTOR (THRU 3/18/23) | 1.00 | $0 | $0 | $0 | Yes (X) | |
| KENNETH EICHHOLZ JR | ||||||
| DIRECTOR | 1.00 | $0 | $0 | $0 | Yes (X) | |
| CHRISTINE KLIPPING | ||||||
| DIRECTOR | 1.00 | $0 | $0 | $0 | Yes (X) | |
| CONNIE KRAFT | ||||||
| DIRECTOR | 1.00 | $0 | $0 | $0 | Yes (X) | |
| TRAVIS VOSS | ||||||
| DIRECTOR | 1.00 | $0 | $0 | $0 | Yes (X) | |
| CHELSEA WHITE | ||||||
| DIRECTOR | 1.00 | $0 | $0 | $0 | Yes (X) | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $549,939 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $74,856 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 4 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (2 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| FISERV | |||||
| PO BOX 934057 | ATLANTA | GA | 311934057 | DATA PROCESSING | $751,934 |
| COMPLETE DATA PRODUCTS INC | |||||
| PO BOX 72433 | CLEVELAND | OH | 44192 | DOCUMENT IMAGING | $101,600 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 2 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| LOAN INTEREST | 522100 | $4,422,694 | $4,422,694 |
| FEES AND CHARGES | 522100 | $1,635,542 | $1,635,542 |
| OTHER INCOME | 522100 | $208,346 | $208,346 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $6,266,582 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,652,653 | TotalRevenueColumnAmt |
| Exclusion | $1,652,653 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $9,810 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $7,975 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $1,835 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,835 | TotalRevenueColumnAmt |
| Exclusion | $1,835 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $7,921,070 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $6,266,582 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $1,654,488 | ExclusionAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $624,795 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,675,443 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $55,841 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $103,971 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $174,188 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $16,928 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $38,771 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $274,255 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $158,075 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $221,674 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $368,984 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $227,003 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,279 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $27,965 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,136,823 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $269,925 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $147,495 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| DIVIDENDS PAID TO MEMBE | $973,078 |
| BANK FEES | $432,395 |
| LOAN CLOSING COSTS | $188,586 |
| PROVISION FOR LOAN LOSS | $81,571 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $168,248 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,368,293 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,234,007 | BOYAmt |
| EOY | $1,693,383 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $886,176 | BOYAmt |
| EOY | $1,963,866 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $86,933,759 | BOYAmt |
| EOY | $92,332,936 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,642,190 | BOYAmt |
| EOY | $2,887,419 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $8,309,842 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $4,624,108 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,850,893 | BOYAmt |
| EOY | $3,685,734 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $31,258,735 | BOYAmt |
| EOY | $22,817,771 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $16,000,070 | BOYAmt |
| EOY | $15,500,000 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,635,949 | BOYAmt |
| EOY | $1,623,796 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $145,441,779 | BOYAmt |
| EOY | $142,504,905 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,897,360 | BOYAmt |
| EOY | $2,124,910 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,000,000 | BOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $126,327,740 | BOYAmt |
| EOY | $125,715,539 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $131,225,100 | BOYAmt |
| EOY | $127,840,449 | 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 | $14,216,679 | BOYAmt |
| EOY | $14,664,456 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $14,216,679 | BOYAmt |
| EOY | $14,664,456 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $145,441,779 | BOYAmt |
| EOY | $142,504,905 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $552,777 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | -$105,000 | 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) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule C IRS990ScheduleC
| Field | Value | IRS element (for citing) |
|---|---|---|
| Political Expenditures | $2,900 | PoliticalExpendituresAmt |
| Internal Funds Contributed | $2,900 | InternalFundsContributedAmt |
| Total Exempt Function Expend | $2,900 | TotalExemptFunctionExpendAmt |
| Form1120 POL Filed | Yes (1) | Form1120POLFiledInd |
Section527 Political Org Section527PoliticalOrgGrp
Organization Business Name OrganizationBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CREDIT UNION POLITICAL ACTION | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1807 W DIEHL RD | AddressLine1Txt |
| City | NAPERVILLE | CityNm |
| State Abbreviation | IL | StateAbbreviationCd |
| ZIP | 60540 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 363092340 | EIN |
| Paid Internal Funds | $2,900 | PaidInternalFundsAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I-A, LINE 1: | FormAndLineReferenceDesc |
| Explanation | SUPPORT FOR THE ILLINOIS CREDIT UNION LEAGUE'S CREDIT UNION POLITICAL ACTION COMMITTEE (CUPAC). THE CREDIT UNION POLITICAL ACTION COUNCIL (CUPAC) IS A VOLUNTARY ASSOCIATION OF CREDIT UNION MEMBERS, CHAPTERS AND CREDIT UNIONS. IT IS NOT AFFILIATED WITH ANY ONE POLITICAL PARTY AND IS AN INDEPENDENT AND AUTONOMOUS ORGANIZATION NOT SUPPORTED BY LEAGUE DUES. CUPAC'S PURPOSE IS TO PROMOTE GOOD GOVERNMENT AND FAVORABLE LEGISLATION FOR CREDIT UNIONS THROUGH RAISING AND DISBURSING FUNDS TO CANDIDATES AND LEGISLATORS SYMPATHETIC TO THE CREDIT UNION MOVEMENT. CONTRIBUTIONS TO CUPAC ARE USED ALMOST EXCLUSIVELY TO SUPPORT CANDIDATES. | ExplanationTxt |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $507,250 | OtherCostOrOtherBasisAmt |
| Book Value | $507,250 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $5,106,219 | OtherCostOrOtherBasisAmt |
| Depreciation | $2,172,610 | DepreciationAmt |
| Book Value | $2,933,609 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $2,696,373 | OtherCostOrOtherBasisAmt |
| Depreciation | $2,451,498 | DepreciationAmt |
| Book Value | $244,875 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $3,685,734 | TotalBookValueLandBuildingsAmt |
Other Securities OtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | AGENCY BONDS | Desc |
| Book Value | $15,500,000 | BookValueAmt |
| Method Valuation | C | MethodValuationCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $15,500,000 | TotalBookValueSecuritiesAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | MEMBER SHARE AND SAVINGS ACCOUNTS | Desc |
| Amt | $125,715,539 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $125,715,539 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $7,919,235 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $7,919,235 | RevenueSubtotalAmt |
| Other Revenues Not Included | $1,835 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $1,835 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $7,921,070 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $7,366,458 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $7,366,458 | ExpensesSubtotalAmt |
| Other Expenses Not Included | $1,835 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $1,835 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $7,368,293 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART X, LINE 2: | THE CREDIT UNION IS GENERALLY EXEMPT, BY STATUTE, FROM FEDERAL INCOME TAXES AND STATE CORPORTE BUSINESS TAX. HOWEVER, THE CREDIT UNION IS SUBJECT TO FEDERAL TAX ON NET UNREALIZED BUSINESS INCOME. THE CREDIT UNION MAY RECOGNIZE A LIABILITY FOR UNRECOGNIZED TAX BENEFITS FROM UNCERTAIN TAX POSITIONS. UNRECOGNIZED TAX BENEFITS REPRESENT THE DIFFERENCE BETWEEN A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN AND THE BENEFIT RECOGNIZED AND MEASURED IN THE FINANCIAL STATEMENTS. INTEREST AND PENALITIES RELATED TO UNRECOGNIZED TAX BENEFITS ARE CLASSIFIED AS INCOME TAX EXPENSE. WITH FEW EXCEPTIONS, THE CREDIT UNION IS NO LONGER SUBJECT TO FEDERAL OR STATE EXAMINIATION BY TAX AUTHORITIES FOR YEARS ENDING BEFORE 2020. |
| PART XI, LINE 4B - OTHER ADJUSTMENTS: | GAIN ON SALE OF FIXED ASSETS 1,835. |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | GAIN ON SALE OF FIXED ASSETS 1,835. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (2 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| GAIL CLORE | ||||||||||||||
| PRESIDENT | $171,118 | $0 | $4,327 | $0 | $0 | $0 | $6,924 | $0 | $5,947 | $0 | $188,316 | $0 | $0 | $0 |
| DAVID HOFFERT | ||||||||||||||
| VP OF OPERATIONS | $135,304 | $0 | $3,558 | $0 | $0 | $0 | $5,625 | $0 | $5,947 | $0 | $150,434 | $0 | $0 | $0 |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (8 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | MEMBERS LIVE OR WORK IN 11 COUNTIES: BOON, LEE, WINNEBAGO, BUREAU, OGLE, ROCK, CARROLL, STEPHENSON, GREEN, JODAVIES, WHITESIDE |
| FORM 990, PART VI, SECTION A, LINE 7A | THE MEMBERS ELECT THE BOARD OF DIRECTORS AT AN ANNUAL MEETING. THE ANNUAL MEETING OF MEMBERS FOR THE ELECTION OF DIRECTORS AND THE TRANSACTION OF SUCH OTHER BUSINESS AS MAY PROPERLY COME BEFORE THE MEETING SHALL BE HELD AT A PLACE DESIGNATED BY THE BOARD OF DIRECTORS DURING THE MONTH OF MARCH. |
| FORM 990, PART VI, SECTION A, LINE 7B | APPROVAL BY MEMBERS IS NEEDED FOR MERGERS AND ANY CHANGES TO THE BYLAWS AT AN ANNUAL MEETING. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE FORM 990 IS REVIEWED BY THE VP OF ACCOUNTING AND APPROVED BY PRESIDENT/CEO PRIOR TO SUBMISSION TO THE INTERNAL REVENUE SERVICE. |
| FORM 990, PART VI, SECTION B, LINE 12C | ALL INSIDERS OF THE CREDIT UNION HAVE AN OBLIGATION AT ALL TIMES TO PRMOTE THE CREDIT UNION'S BEST INTERESTS. THE CREDIT UNION'S CODE OF ETHICS POLICY REQUIRES THAT ALL PERSONNEL AVOID ANY SITUATION, WHICH DOES OR MAY INVOLVE A CONFLICT, OR APPEARANCE OF CONFLICT, BETWEEN THEIR PERSONAL INTERESTS AND THE INTERESTS OF THE CREDIT UNION. ALL INSIDERS OF THE CREDIT UNION MUST SIGN AND UPDATE THEIR CONFLICT OF INTEREST WHEN HIRED AND ANNUALLY THEREAFTER. |
| FORM 990, PART VI, SECTION B, LINE 15 | COMPENSATION FOR ALL POSITIONS IS APPROVED ANNALLY BY THE BOARD OF DIRECTORS THROUGH THE BUDGETARY PROCESS. THE CREDIT UNION HAS A COMPENSATION SYSTEM LICENSE WITH KOKER, GOODWIN & ASSOCIATIONS, INC. FOR COMPEASE SOFTWARE INCLUDING ANNUAL SALARY RANGES ADJUSTED FOR NORTHWEST ILLINOIS FOR ALL POSITIONS AT THE CREDIT UNION. ADDITIONALLY, AS A CONFIRMATION TO WAGE SCALES FOR THE CREDIT UNION INDUSTRY THE CREDIT UNION CONSULTS WITH THE ANNUAL "SALARY SURVEY" PREPARED AND DISTRIBUTED BY CUNA NATIONAL ASSOCIATION, MADISON, WI. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUEST. |
| FORM 990, PART XI, LINE 9: | CUMULATIVE EFFECT OF ADOPTION OF ASU NO 2016-13 -312,092. OTHER COMPREHENSIVE INCOME 207,092. |