CORPORATE AMERICA FAMILY CREDIT: Form 990, tax year 2022
View the entire original 990 at ProPublica ↗
- Organization
- CORPORATE AMERICA FAMILY CREDIT (EIN 36-0760135)
- Tax period
- 2022-01-01 to 2022-12-31
- Filed
- 2023-11-13
- IRS object ID
- 202343179349304129
- Schema version
- 2022v5.0
- 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 | 2023-11-13T10:54:12-06:00 | ReturnTs |
| Tax Period End | 2022-12-31 | 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 | 2022-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 360760135 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CORPORATE AMERICA FAMILY CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | CORP | BusinessNameControlTxt |
| Phone | 8472142000 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2075 BIG TIMBER RD | AddressLine1Txt |
| City | ELGIN | CityNm |
| State Abbreviation | IL | StateAbbreviationCd |
| ZIP | 601231140 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | DANIEL KADOLPH | PersonNm |
| Person Title | CHIEF FINANCIAL OFFICER | PersonTitleTxt |
| Phone | 8472142000 | PhoneNum |
| Signature | 2023-11-10 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | DANIEL | PersonFirstNm |
| Person Last | KADOLPH | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
| 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 | 2023-11-10 | PreparationDt |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 2 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2022 | TaxYr |
| Build TS | 2023-04-26 12:10:37Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | PETER PAULSON | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2075 BIG TIMBER RD | AddressLine1Txt |
| City | ELGIN | CityNm |
| State Abbreviation | IL | StateAbbreviationCd |
| ZIP | 601231140 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $45,338,962 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.CAFCU.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1939 | FormationYr |
| Legal Domicile State | IL | LegalDomicileStateCd |
| Activity Or Mission | CORPORATE AMERICA FAMILY CREDIT UNION IS A NOT-FOR-PROFIT, MEMBER-OWNED AND DIRECTED FINANCIAL COOPERATIVE DEDICATED TO BEING THE PRIMARY FINANCIAL INSTITUTION FOR ITS MEMBERS. | ActivityOrMissionDesc |
| Voting Members Governing Body | 10 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 9 | VotingMembersIndependentCnt |
| Total Employee | 266 | 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 | $30,108,739 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $33,441,082 | CYProgramServiceRevenueAmt |
| PY Investment Income | $2,685,003 | PYInvestmentIncomeAmt |
| CY Investment Income | $6,240,117 | CYInvestmentIncomeAmt |
| PY Other Revenue | $267,354 | PYOtherRevenueAmt |
| CY Other Revenue | $83,965 | CYOtherRevenueAmt |
| PY Total Revenue | $33,061,096 | PYTotalRevenueAmt |
| CY Total Revenue | $39,765,164 | 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 | $18,425,272 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $18,789,618 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $13,645,891 | PYOtherExpensesAmt |
| CY Other Expenses | $17,834,068 | CYOtherExpensesAmt |
| PY Total Expenses | $32,071,163 | PYTotalExpensesAmt |
| CY Total Expenses | $36,623,686 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $989,933 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $3,141,478 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $809,180,688 | TotalAssetsBOYAmt |
| Total Assets EOY | $839,530,698 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $703,319,469 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $749,049,787 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $105,861,219 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $90,480,911 | NetAssetsOrFundBalancesEOYAmt |
| Mission | CORPORATE AMERICA FAMILY CREDIT UNION IS A NOT-FOR-PROFIT, MEMBER-OWNED AND DIRECTED FINANCIAL COOPERATIVE DEDICATED TO BEING THE PRIMARY FINANCIAL INSTITUTION FOR ITS MEMBERS. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | RECEIVED DEPOSITS FROM 68,055 MEMBERS: CORPORATE AMERICA FAMILY CREDIT UNION (THE CREDIT UNION) PROVIDES SAVINGS PRODUCTS TO MEMBERS AT VERY COMPETITIVE RATES INCLUDING REGULAR SHARES, MONEY MARKETS, CERTIFICATES OF DEPOSIT AND IRA PRODUCTS. THE CREDIT UNION ALSO PROVIDES A VARIETY OF CHECKING ACCOUNTS INCLUDING A TRADITIONAL CHECKING ACCOUNT THAT IS FREE TO OUR MEMBERS. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | PROVIDED CONSUMER LOANS TO 5,459 MEMBERS: THE TYPES OF CONSUMER LOANS PROVIDED TO THE MEMBERSHIP INCLUDE AUTO LOANS, PERSONAL LOANS AND CREDIT CARDS. CONSUMER LOANS ARE OFFERED AT COMPETITIVE RATES. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | PROVIDED FIRST MORTGAGE AND HOME EQUITY LOANS TO 371 MEMBERS: THE TYPES OF FIRST MORTGAGE LOANS OFFERED ARE FIXED RATE AND VARIABLE RATE LOANS. THE HOME EQUITY LOANS ARE ALSO EITHER FIXED RATE OR VARIABLE LINES OF CREDIT. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| 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 | Yes (1) | 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 | 0 | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | 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 | 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 | 0 | 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 | 10366 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 266 | 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 |
| 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 | 10 | 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 | 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 | Yes (1) | 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 | 0 | 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 | DAN KADOLPH | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 8472142000 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2075 BIG TIMBER RD | AddressLine1Txt |
| City | ELGIN | CityNm |
| State Abbreviation | IL | StateAbbreviationCd |
| ZIP | 601231140 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (21 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| PETER PAULSON | ||||||||
| PRESIDENT/CEO | 40.00 | Yes (X) | Yes (X) | $381,390 | $0 | $239,152 | ||
| PAULA BLONSKI | ||||||||
| FORMER DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| JOHN BLOZIS | ||||||||
| TREASURER | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| GLENN BROWN | ||||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| JEFF GOTT | ||||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| TIFFANY JORDAN | ||||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| COSTANZO MAESTRANZI | ||||||||
| CHAIR | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| KENNETH NAATZ | ||||||||
| SECRETARY | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| THOMAS RIECK | ||||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| THOMAS SHEPPARD | ||||||||
| VICE CHAIR | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| PAT TOLLEFSON | ||||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| DAN KADOLPH | ||||||||
| SENIOR VICE PRESIDENT/CFO | 40.00 | Yes (X) | $110,886 | $0 | $704 | |||
| ELLEN MEEHAN | ||||||||
| SENIOR VICE PRESIDENT | 40.00 | $192,246 | $0 | $47,414 | Yes (X) | |||
| CAROL HOEM | ||||||||
| SENIOR VICE PRESIDENT | 40.00 | $163,358 | $0 | $42,303 | Yes (X) | |||
| ANDREW BOWEN | ||||||||
| VICE PRESIDENT | 40.00 | $157,350 | $0 | $56,079 | Yes (X) | |||
| MATTHEW HELMS | ||||||||
| SENIOR VICE PRESIDENT | 40.00 | $149,271 | $0 | $43,875 | Yes (X) | |||
| FAITH MYERS | ||||||||
| VICE PRESIDENT | 40.00 | $136,241 | $0 | $21,936 | Yes (X) | |||
| LAURA KIRILUK | ||||||||
| VICE PRESIDENT | 40.00 | $126,884 | $0 | $39,531 | Yes (X) | |||
| STEVEN OLSON | ||||||||
| VICE PRESIDENT | 40.00 | $143,467 | $0 | $26,331 | Yes (X) | |||
| KATHLEEN CROUSE | ||||||||
| MANAGER | 40.00 | $114,357 | $0 | $22,819 | Yes (X) | |||
| JOSEPH SHULTZ | ||||||||
| VICE PRESIDENT | 40.00 | $131,664 | $0 | $32,388 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $1,807,114 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $572,532 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 16 | 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 |
|---|---|---|---|---|---|
| FISERV | |||||
| 235 FISERV DR PO BOX 979 | BROOKFIELD | WI | 530080979 | CORE SYSTEM PROVIDER | $1,692,043 |
| NCR | |||||
| 864 SPRING ST NW | ATLANTA | GA | 30308 | ATM/PTM PROVIDER | $479,456 |
| SOFTCHOICE | |||||
| 314 W SUPERIOR ST | CHICAGO | IL | 60654 | IT SERVICES PROVIDER | $437,287 |
| MICRODYNAMICS CORP | |||||
| 8580 SOLUTIONS CENTER | CHICAGO | IL | 606778005 | STATEMENT PROVIDER | $364,688 |
| HEIDNER PROPERTY MANAGEMENT | |||||
| 5277 TRILLIUM BLVD | HOFFMAN ESTATES | IL | 60192 | REAL ESTATE RENTAL | $308,954 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 17 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| LOAN INCOME | 522130 | $23,566,086 | $23,566,086 |
| FEE INCOME | 522130 | $7,229,024 | $7,229,024 |
| OTHER OPERATING REVENUE | 522130 | $2,645,972 | $2,645,972 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $33,441,082 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $6,186,373 | TotalRevenueColumnAmt |
| Exclusion | $6,186,373 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $5,627,542 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $5,573,798 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $53,744 | SecuritiesAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $53,744 | TotalRevenueColumnAmt |
| Exclusion | $53,744 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| PURCHASE ACCOUNTING AMORTIZATION | 522130 | $79,929 | $79,929 |
| SALLIE MAE REFERRALS | 522130 | $4,036 | $4,036 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $83,965 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $39,765,164 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $33,525,047 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $6,240,117 | ExclusionAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,390,882 | TotalAmt |
Comp Disqual Persons CompDisqualPersonsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $64,398 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $12,672,150 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,056,924 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,518,053 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,087,211 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $36,000 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $85,200 | TotalAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $274,008 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $555,339 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,967,563 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,532,367 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,900,205 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $163,165 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $199,550 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,620,748 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $547,156 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $623,322 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| DIVIDENDS PAID TO MEMBE | $1,778,904 |
| PROVISION FOR LOAN LOSS | $1,307,958 |
| CREDIT CARD EXPENSES | $1,100,374 |
| CHECKING EXPENSE | $679,519 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,462,690 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $36,623,686 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,306,392 | BOYAmt |
| EOY | $2,266,829 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $61,483,968 | BOYAmt |
| EOY | $17,746,380 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $522,544,080 | BOYAmt |
| EOY | $574,563,531 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,361,987 | BOYAmt |
| EOY | $1,307,650 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $20,991,731 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $16,024,150 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,424,405 | BOYAmt |
| EOY | $4,967,581 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $22,765,645 | BOYAmt |
| EOY | $19,768,984 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $176,889,477 | BOYAmt |
| EOY | $203,495,876 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,866,771 | BOYAmt |
| EOY | $6,749,807 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,537,963 | BOYAmt |
| EOY | $8,664,060 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $809,180,688 | BOYAmt |
| EOY | $839,530,698 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,182,600 | BOYAmt |
| EOY | $6,769,782 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $847,090 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,000,000 | BOYAmt |
| EOY | $70,101,038 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $2,616,000 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $692,136,869 | BOYAmt |
| EOY | $668,715,877 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $703,319,469 | BOYAmt |
| EOY | $749,049,787 | 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 | $105,861,219 | BOYAmt |
| EOY | $90,480,911 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $105,861,219 | BOYAmt |
| EOY | $90,480,911 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $809,180,688 | BOYAmt |
| EOY | $839,530,698 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $3,141,478 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$18,535,846 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $14,060 | 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 | 0 | FSAuditedInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule C IRS990ScheduleC
| Field | Value | IRS element (for citing) |
|---|---|---|
| Political Expenditures | $15,000 | PoliticalExpendituresAmt |
| Internal Funds Contributed | $15,000 | InternalFundsContributedAmt |
| Total Exempt Function Expend | $15,000 | 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 COUNCIL | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1807 WEST DIEHL RD | AddressLine1Txt |
| City | NAPERVILLE | CityNm |
| State Abbreviation | IL | StateAbbreviationCd |
| ZIP | 605667107 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 363092340 | EIN |
| Paid Internal Funds | $15,000 | PaidInternalFundsAmt |
| Contributions Rcvd Dlvr | $0 | ContributionsRcvdDlvrAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I-A, LINE 1: | FormAndLineReferenceDesc |
| Explanation | CORPORATE AMERICA FAMILY CREDIT UNION CONTRIBUTES TO THE CREDIT UNION POLITICAL ACTION COUNCIL AND THE FEDERAL PAC OF THE CREDIT UNION NATIONAL ASSOCIATION (CUNA), IN SUPPORT OF THE CREDIT UNION MOVEMENT. | ExplanationTxt |
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 | $1,215,974 | OtherCostOrOtherBasisAmt |
| Book Value | $1,215,974 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $4,422,341 | OtherCostOrOtherBasisAmt |
| Depreciation | $2,356,076 | DepreciationAmt |
| Book Value | $2,066,265 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $4,991,122 | OtherCostOrOtherBasisAmt |
| Depreciation | $4,422,613 | DepreciationAmt |
| Book Value | $568,509 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $6,834,475 | OtherCostOrOtherBasisAmt |
| Depreciation | $6,042,445 | DepreciationAmt |
| Book Value | $792,030 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $3,527,819 | OtherCostOrOtherBasisAmt |
| Depreciation | $3,203,016 | DepreciationAmt |
| Book Value | $324,803 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $4,967,581 | TotalBookValueLandBuildingsAmt |
Closely Held Equity Interests CloselyHeldEquityInterestsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Book Value | $8,650,000 | BookValueAmt |
| Method Valuation | C | MethodValuationCd |
Other Securities OtherSecuritiesGrp (6 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| US GOVT AND US GOVT AGENCY BONDS | $150,133,491 | F |
| CERTIFICATES OF DEPOSIT | $19,846,330 | F |
| BANK OWNED LIFE INSURANCE | $12,171,405 | C |
| NCUSIF DEPOSIT | $6,076,597 | C |
| CORPORATE BONDS | $3,874,065 | F |
| CORPORATE CREDIT UNION CAPITAL | $2,743,988 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $203,495,876 | TotalBookValueSecuritiesAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | MEMBER SHARES | Desc |
| Amt | $668,715,877 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $668,715,877 | TotalLiabilityAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART IV, LINE 2B: | FormAndLineReferenceDesc |
| Explanation | CORPORATE AMERICA FAMILY CREDIT UNION HAS ESCROW ACCOUNTS TO PAY FOR REAL ESTATE TAXES AND HOMEOWNERS INSURANCE ON BEHALF OF ITS MEMBERS. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (1) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (10 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PETER PAULSON | ||||||||||||||
| PRESIDENT/CEO | $381,390 | $0 | $0 | $0 | $0 | $0 | $203,472 | $0 | $35,680 | $0 | $620,542 | $0 | $0 | $0 |
| ELLEN MEEHAN | ||||||||||||||
| SENIOR VICE PRESIDENT | $192,246 | $0 | $0 | $0 | $0 | $0 | $19,730 | $0 | $27,684 | $0 | $239,660 | $0 | $0 | $0 |
| ANDREW BOWEN | ||||||||||||||
| VICE PRESIDENT | $157,350 | $0 | $0 | $0 | $0 | $0 | $16,383 | $0 | $39,696 | $0 | $213,429 | $0 | $0 | $0 |
| CAROL HOEM | ||||||||||||||
| SENIOR VICE PRESIDENT | $163,358 | $0 | $0 | $0 | $0 | $0 | $16,281 | $0 | $26,022 | $0 | $205,661 | $0 | $0 | $0 |
| MATTHEW HELMS | ||||||||||||||
| SENIOR VICE PRESIDENT | $149,271 | $0 | $0 | $0 | $0 | $0 | $15,438 | $0 | $28,437 | $0 | $193,146 | $0 | $0 | $0 |
| STEVEN OLSON | ||||||||||||||
| VICE PRESIDENT | $143,467 | $0 | $0 | $0 | $0 | $0 | $13,072 | $0 | $13,259 | $0 | $169,798 | $0 | $0 | $0 |
| LAURA KIRILUK | ||||||||||||||
| VICE PRESIDENT | $126,884 | $0 | $0 | $0 | $0 | $0 | $13,042 | $0 | $26,489 | $0 | $166,415 | $0 | $0 | $0 |
| JOSEPH SHULTZ | ||||||||||||||
| VICE PRESIDENT | $131,664 | $0 | $0 | $0 | $0 | $0 | $13,022 | $0 | $19,366 | $0 | $164,052 | $0 | $0 | $0 |
| FAITH MYERS | ||||||||||||||
| VICE PRESIDENT | $136,241 | $0 | $0 | $0 | $0 | $0 | $12,720 | $0 | $9,216 | $0 | $158,177 | $0 | $0 | $0 |
| DAN KADOLPH | ||||||||||||||
| SENIOR VICE PRESIDENT/CFO | $110,886 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $704 | $0 | $111,590 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 4B | FormAndLineReferenceDesc |
| Explanation | PETER PAULSON, PRESIDENT, PARTICIPATES IN A NON-QUALIFIED 457(F) SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN. THE TOTAL 2022 EMPLOYER CONTRIBUTIONS INTO THE PLAN ON BEHALF OF THE INDIVIDUAL IN THE AMOUNT OF $172,175 IS REPORTED AS DEFERRED COMPENSATION ON FORM 990, PART VII AND SCHEDULE J, PART II. THERE WERE NO DISTRIBUTIONS IN 2022. | ExplanationTxt |
Schedule L IRS990ScheduleL
Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp
Name Of Interested NameOfInterested
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NAN YOUNG | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Relationship Description | FAMILY MEMBER OF CAROL HOEM | RelationshipDescriptionTxt |
| Transaction | $64,398 | TransactionAmt |
| Transaction | COMPENSATION | TransactionDesc |
| Sharing Of Revenues | 0 | SharingOfRevenuesInd |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (10 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | CORPORATE AMERICA FAMILY CREDIT UNION HAS MEMBERS AS SPECIFIED IN ITS BYLAWS. |
| FORM 990, PART VI, SECTION A, LINE 7A | CORPORATE AMERICA FAMILY CREDIT UNION MEMBERS HAVE THE POWER TO ELECT MEMBERS OF THE GOVERNING BODY. |
| FORM 990, PART VI, SECTION A, LINE 8B | CORPORATE AMERICA FAMILY CREDIT UNION DOES NOT HAVE COMMITTEES WITH AUTHOORITY TO ACT ON BEHALF OF THE GOVERNING BODY. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE BOARD MEMBERS WERE PROVIDED WITH A COPY OF THE FORM 990 VIA THE BOARD INTRANET WITH TIME TO REVIEW AND COMMENT PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. |
| FORM 990, PART VI, SECTION B, LINE 12C | CORPORATE AMERICA FAMILY CREDIT UNION HAS A CODE OF PROFESSIONAL STANDARDS, WHICH INCLUDES A SECTION ON AVOIDING CONFLICTS OF INTEREST. THE POLICY IS DISTRIBUTED ANNUALLY AND ALL STAFF AND BOARD MEMBERS ARE REQUIRED TO ACKNOWLEDGE THE CODE. THE CODE ALSO EXPLAINS WHO TO CONTACT IN SUCH A SITUATION. SELF REPORTING IS EXPECTED. ALL SUBMITTED INFORMATION IS THOROUGHLY INVESTIGATED BY HUMAN RESOURCES. THE HUMAN RESOURCES DEPARTMENT ALSO MONITORS FOR CONFLICTS ON AN ONGOING BASIS THROUGH CORPORATE AMERICA FAMILY CREDIT UNION TAKES SERIOUSLY THE STANDARDS SET FORTH IN THE CODE, AND VIOLATIONS ARE CAUSE FOR DISCIPLINARY ACTION UP TO AND INCLUDING TERMINATION OF EMPLOYMENT. VIOLATIONS BY THE BOARD OF DIRECTORS SHOULD BE REFERRED TO THE CHAIRMAN AND/OR SUPERVISORY COMMITTEE FOR REVIEW. |
| FORM 990, PART VI, SECTION B, LINE 15A | A SALARY SURVEY IS PREPARED ANNUALLY BY THE HUMAN RESOURCES DEPARTMENT. INFORMATION IS GATHERED FROM INDEPENDENT SOURCES AND IMPACTS ALL POSITIONS IN THE ORGANIZATION. EXECUTIVE MANAGEMENT MEETS WITH HUMAN RESOURCES TO REVIEW GRADE LEVELS AND PAY RANGES FOR ALL EMPLOYEES. THE CHAIRPERSON REVIEWS THE SALARY SURVEY PRIOR TO RECOMMENDING THE PRESDIENT/CHIEF EXECUTIVE OFFICER'S SALARY. THE PRESDIENT/CHIEF EXECUTIVE OFFICER'S SALARY IS SUBJECT TO BOARD APPROVAL. KEY EMPLOYEE COMPENSATION, OTHER THAN THE CHIEF EXECUTIVE OFFICER, IS NOT SUBJECT TO BOARD APPROVAL AND IS APPROVED BY THE CHIEF EXECUTIVE OFFICER. THE OCCURANCE OF THIS PROCESS IS CONTEMPORANEOUSLY DOCUMENTED IN THE BOARD MINUTES. THIS PROCESS LAST OCCURED IN FEBRUARY 2023. |
| FORM 990, PART VI, SECTION C, LINE 19 | CORPORATE AMERICA FAMILY CREDIT UNION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND 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: | CHANGE IN NET ASSETS OF WHOLLY OWNED SUBSIDIARY 14,060. |
| FORM 990, PART IV, LINE 12A & PART XII, LINE 2B: | THE ORGANIZATION'S FINANCIAL STATEMENTS ARE AUDITED ON A CONSOLIDATED BASIS BY AN INDEPENDENT ACCOUNTANT. HOWEVER, THE FINANCIAL STATEMENTS ARE AUDITED ON A FISCAL YEAR-END BASIS OF MARCH 31ST, WHILE THE ORGANIZATION'S TAX YEAR-END IS DECEMBER 31ST. |
| FORM 990, PART I, LINES 14 & 17: | IN 2022, CORPORATE AMERICA FAMILY CREDIT UNION DETERMINED THAT IT WAS MORE APPROPRIATE TO INCLUDE IN THE PRIOR YEAR COLUMN FOR LINE 17 (OTHER EXPENSES) CERTAIN IMTEMS INCLUDED IN PRIOR YEAR FORMS 990, PART IX, IN LINE 4 (BENEFITS PAID TO OR FOR MEMBERS). CONFORMING ADJUSTMENTS HAVE BEEN MADE TO THE CURRENT YEAR AMOUNTS LISTED IN THE CURRENT YEAR COLUMN OF PART I AND PART IX. |
Schedule R IRS990ScheduleR
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp
Related Organization Name RelatedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CORPORATE AMERICA FINANCIAL SERVICES INC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2075 BIG TIMBER ROAD | AddressLine1Txt |
| City | ELGIN | CityNm |
| State Abbreviation | IL | StateAbbreviationCd |
| ZIP | 601231140 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 364108945 | EIN |
| Primary Activities | INSURANCE/NONMEMBER ACTIVITY | PrimaryActivitiesTxt |
| Legal Domicile State | IL | LegalDomicileStateCd |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CORPORATE AMERICA FAMILY CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Entity Type | C | EntityTypeTxt |
| Share Of EOY Assets | $445,169 | ShareOfEOYAssetsAmt |
| Ownership | 1.00000 | OwnershipPct |
| Controlled Organization | Yes (1) | ControlledOrganizationInd |
| 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 | 0 | 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 | Yes (1) | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | Yes (1) | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | Yes (1) | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp (3 entries)
| Transaction TypeTransactionTypeTxt | InvolvedInvolvedAmt | Method Of Amount DeterminationMethodOfAmountDeterminationTxt |
|---|---|---|
| CORPORATE AMERICA FINANCIAL SERVICES INC | ||
| O | $115,977 | FAIR MARKET VALUE |
| CORPORATE AMERICA FINANCIAL SERVICES INC | ||
| Q | $56,484 | FAIR MARKET VALUE |
| CORPORATE AMERICA FINANCIAL SERVICES INC | ||
| R | $186,522 | FAIR MARKET VALUE |