CORPORATE AMERICA FAMILY CREDIT: Form 990, tax year 2012
View the entire original 990 at ProPublica ↗
- Organization
- CORPORATE AMERICA FAMILY CREDIT (EIN 36-0760135)
- Tax period
- 2012-01-01 to 2012-12-31
- Filed
- 2013-11-13
- IRS object ID
- 201303179349302225
- Schema version
- 2012v2.1
- 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) |
|---|---|---|
| Timestamp | 2013-11-13T10:32:30-06:00 | Timestamp |
| Tax Period End Date | 2012-12-31 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 420714325 | EIN |
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MCGLADREY LLP | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 801 NICOLLET MALL SUITE 1100 | AddressLine1 |
| City | MINNEAPOLIS | City |
| State | MN | State |
| ZIP Code | 55402 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2012-01-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 360760135 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CORPORATE AMERICA FAMILY CREDIT UNION | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | CORP | NameControl |
| Phone | 8472142000 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2075 BIG TIMBER ROAD | AddressLine1 |
| City | ELGIN | City |
| State | IL | State |
| ZIP Code | 601231140 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | PETER PAULSON | Name |
| Title | PRESIDENT | Title |
| Phone | 8472142000 | Phone |
| Date Signed | 2013-11-08 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | GERALD B KISSELL | Name |
| PTIN | P00092658 | PTIN |
| Phone | 6123324300 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2012 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | PETER PAULSON | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2075 BIG TIMBER ROAD | AddressLine1 |
| City | ELGIN | City |
| State | IL | State |
| ZIP Code | 601231140 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 32083922 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c | X | Organization501c |
| Web Site | WWW.CAFCU.ORG | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1939 | YearFormation |
| State Legal Domicile | IL | StateLegalDomicile |
| Activity Or Mission Description | 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. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 9 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 8 | NbrIndependentVotingMembers |
| Total Nbr Employees | 201 | TotalNbrEmployees |
| Total Nbr Volunteers | 0 | TotalNbrVolunteers |
| Total Gross UBI | 0 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 0 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 0 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 0 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 25093214 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 24909852 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 4388624 | InvestmentIncomePriorYear |
| Investment Income Current Year | 4238028 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 19590 | OtherRevenuePriorYear |
| Other Revenue Current Year | 0 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 29501428 | TotalRevenuePriorYear |
| Total Revenue Current Year | 29147880 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 0 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 0 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 3053536 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 2361887 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 10959160 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 11491102 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 0 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 9838895 | OtherExpensePriorYear |
| Other Expenses Current Year | 12058597 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 23851591 | TotalExpensesPriorYear |
| Total Expenses Current Year | 25911586 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 5649837 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 3236294 | RevenuesLessExpensesCY |
| Total Assets BOY | 556168212 | TotalAssetsBOY |
| Total Assets EOY | 568128863 | TotalAssetsEOY |
| Total Liabilities BOY | 476394831 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 484686840 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 79773381 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 83442023 | NetAssetsOrFundBalancesEOY |
| Info In Schedule O Part III | X | InfoInScheduleOPartIII |
| Mission Description | CORPORATE AMERICA FAMILY CREDIT UNION (CAFCU) IS A NOT FOR PROFIT, MEMBER OWNED AND DIRECTED FINANCIAL COOPERATIVE DEDICATED TO BEING THE PRIMARY FINANCIAL INSTITUTION FOR ITS MEMBERS. | MissionDescription |
| Significant New Program Services | 1 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Description | RECEIVED DEPOSITS FROM 65,928 MEMBERS. | Description |
Activity2 Activity2
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | PROVIDED CONSUMER LOANS TO 4,834 MEMBERS. | Description |
Activity3 Activity3
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | PROVIDED FIRST MORTGAGE AND HOME EQUITY LOANS TO 324 MEMBERS. | Description |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Described In501 C3 | 0 | DescribedIn501C3 |
| Schedule B Required | 0 | ScheduleBRequired |
| Political Activities | 1 | PoliticalActivities |
| Subject To Proxy Tax | 0 | SubjectToProxyTax |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 0 | CreditCounseling |
| Term Or Permanent Endowments | 0 | TermOrPermanentEndowments |
| Report Land Bldg Equip | 1 | ReportLandBldgEquip |
| Report Invest Oth Securities | 1 | ReportInvestOthSecurities |
| Report Prog Rel Invest | 0 | ReportProgRelInvest |
| Report Other Assets | 0 | ReportOtherAssets |
| Report Other Liabilities | 1 | ReportOtherLiabilities |
| Report Fin48 Footnote | 0 | ReportFin48Footnote |
| Independent Audit Financial Stmt | 0 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 0 | ConsolidatedAuditFinancialStmt |
| School | 0 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 0 | ForeignActivities |
| More Than5000 K To Organizations | 0 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 0 | ProfessionalFundraising |
| Fundraising Activities | 0 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 0 | GrantsToOrganizations |
| Grants To Individuals | 0 | GrantsToIndividuals |
| Schedule J Required | 1 | ScheduleJRequired |
| Tax Exempt Bonds | 0 | TaxExemptBonds |
| Loan To Officer Or DQP | 0 | LoanToOfficerOrDQP |
| Grant To Related Person | 0 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 0 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 0 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 0 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 0 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 0 | DisregardedEntity |
| Related Entity | 1 | RelatedEntity |
| Related Org Controlled Entity | 1 | RelatedOrgControlledEntity |
| Transaction Related Entity | 1 | TransactionRelatedEntity |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 9507 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | 1 | ComplianceWithBackupWitholding |
| Number Of Employees | 201 | NumberOfEmployees |
| Employment Tax Returns Filed | 1 | EmploymentTaxReturnsFiled |
| Unrelated Business Income | 0 | UnrelatedBusinessIncome |
| Foreign Financial Account | 0 | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Indoor Tanning Services | 0 | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 9 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 8 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 0 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 0 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 0 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 1 | MembersOrStockholders |
| Election Of Board Members | 1 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 1 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 1 | MinutesOfCommittees |
| Officer Mailing Address | 0 | OfficerMailingAddress |
| Local Chapters | 1 | LocalChapters |
| Policies Reference Chapters | 1 | PoliciesReferenceChapters |
| Form990 Provided To Governing Body | 1 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 1 | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | 1 | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | 1 | RegularMonitoringEnforcement |
| Whistleblower Policy | 1 | WhistleblowerPolicy |
| Document Retention Policy | 1 | DocumentRetentionPolicy |
| Compensation Process CEO | 1 | CompensationProcessCEO |
| Compensation Process Other | 1 | CompensationProcessOther |
| Investment In Joint Venture | 0 | InvestmentInJointVenture |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | EMILY FORNWALL | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 8472142012 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2075 BIG TIMBER ROAD | AddressLine1 |
| City | ELGIN | City |
| State | IL | State |
| ZIP Code | 601231140 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (13 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | OfficerOfficer | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | Highest Compensated EmployeeHighestCompensatedEmployee | FormerFormer |
|---|---|---|---|---|---|---|---|---|
| PETER PAULSON | ||||||||
| PRESIDENT | 40.00 | X | X | 281015 | 0 | 38369 | ||
| COSTANZO MAESTRANZI | ||||||||
| CHAIRPERSON | 1.00 | X | X | 1998 | 0 | 0 | ||
| RONALD KALISZ | ||||||||
| VICE CHAIRPERSON | 1.00 | X | X | 0 | 0 | 0 | ||
| JOHN BLOZIS | ||||||||
| TREASURER | 1.00 | X | X | 0 | 0 | 0 | ||
| KENNETH NAATZ | ||||||||
| SECRETARY | 1.00 | X | X | 0 | 0 | 0 | ||
| MAURICE THOMPSON | ||||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |||
| GLENN BROWN | ||||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |||
| THOMAS RIECK | ||||||||
| DIRECTOR | 1.00 | X | 992 | 0 | 0 | |||
| PAULA BLONSKI | ||||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |||
| ELLEN MEEHAN | ||||||||
| SENIOR VICE PRESIDENT | 40.00 | 133034 | 0 | 23813 | X | |||
| PAULA MCCARTHY | ||||||||
| SENIOR VICE PRESIDENT | 40.00 | 121567 | 0 | 22464 | X | |||
| ANDREW BOWEN | ||||||||
| VP TECHNOLOGY | 40.00 | 100072 | 0 | 27296 | X | |||
| RICHARD K WELLNER | ||||||||
| FORMER PRESIDENT | 0.00 | 161555 | 0 | 0 | X | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 800233 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 111942 | TotalOtherCompensation |
| Number Individuals GT100 K | 5 | NumberIndividualsGT100K |
| Formers Listed | 1 | FormersListed |
| Total Comp GT150 K | 1 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (5 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| FISERV | |||||
| 255 FISERV DRIVE PO BOX 979 | BROOKFIELD | WI | 530080979 | CORE SYSTEM PROVIDER | 663206 |
| JACK HENRY & ASSOCIATES INC | |||||
| 663 W HIGHWAY 60 PO BOX 807 | MONETT | MO | 657088215 | PLASTIC CARD PROVIDER | 446262 |
| THE DESIGNER'S DESK | |||||
| 28147 W COMMERCIAL AVE UNIT 1 | LAKE BARRINGTON | IL | 60010 | MARKETING/SUPPLIES | 429528 |
| ACI WORLDWIDE CORPORATION | |||||
| 3520 KRAFT RD STE 300 | NAPLES | FL | 34105 | SOFTWARE/SYSTEM PROVIDER | 366410 |
| CUNA MUTUAL GROUP | |||||
| PO BOX 2978 | MADISON | WI | 53701 | CU INSURANCE | 299582 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 18 | NumberOfContractorsGT100K |
Program Service Revenue ProgramServiceRevenue (2 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|
| LOAN INCOME | 522100 | 18243012 | 18243012 |
| FEE INCOME | 522100 | 6666840 | 6666840 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 24909852 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 4102413 | TotalRevenueColumn |
| Exclusion | $4,102,413 | ExclusionAmount |
Gross Amount Sales Assets GrossAmountSalesAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 2755040 | Securities |
| Other | 316617 | Other |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 2624170 | Securities |
| Other | 311872 | Other |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 130870 | Securities |
| Other | 4745 | Other |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 135615 | TotalRevenueColumn |
| Exclusion | $135,615 | ExclusionAmount |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 29147880 | TotalRevenueColumn |
| Related Or Exempt Function Income | 24909852 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $4,238,028 | ExclusionAmount |
Benefits To Members BenefitsToMembers
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2361887 | Total |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 322374 | Total |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 8189999 | Total |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 661533 | Total |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1500820 | Total |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 816376 | Total |
Fees For Services Management FeesForServicesManagement
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 32000 | Total |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 67200 | Total |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 546509 | Total |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 684038 | Total |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1575242 | Total |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1130371 | Total |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 46890 | Total |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 144672 | Total |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 790141 | Total |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 431795 | Total |
Other Expenses OtherExpenses (4 entries)
| DescriptionDescription | TotalTotal |
|---|---|
| PROVISION FOR LOAN LOSS | 3287417 |
| CHECKING EXPENSE | 780694 |
| VISA EXPENSE | 653582 |
| NCUA ASSESSMENT | 451152 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1436894 | Total |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 25911586 | Total |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1302244 | BOY |
| EOY | 1373606 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 43431474 | BOY |
| EOY | 49748905 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 268241613 | BOY |
| EOY | 278321686 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 734967 | BOY |
| EOY | 756895 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 11017247 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 6886429 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 4445308 | BOY |
| EOY | 4130818 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 233856470 | BOY |
| EOY | 229937868 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 4156136 | BOY |
| EOY | 3859085 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 556168212 | BOY |
| EOY | 568128863 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 4421882 | BOY |
| EOY | 4730471 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 471972949 | BOY |
| EOY | 479956369 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 476394831 | BOY |
| EOY | 484686840 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Do Not Follow SFAS117 | X | DoNotFollowSFAS117 |
Cap Stck Trst Prin Current Funds CapStckTrstPrinCurrentFunds
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Paid In Cap Srpls Land Bldg Eqp Fund PaidInCapSrplsLandBldgEqpFund
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Retained Earnings Endowment Etc RetainedEarningsEndowmentEtc
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 79773381 | BOY |
| EOY | 83442023 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 79773381 | BOY |
| EOY | 83442023 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 556168212 | BOY |
| EOY | 568128863 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | 3236294 | ReconcilationRevenueExpenses |
| Reconciliation Unrealized Invest | 543972 | ReconciliationUnrealizedInvest |
| Reconcilation Other Changes | -111624 | ReconcilationOtherChanges |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 1 | FSAudited |
FS Audited Basis FSAuditedBasis
| Field | Value | IRS element (for citing) |
|---|---|---|
| Financial Statement Consolidated | X | FinancialStatementConsolidated |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | 1 | AuditCommittee |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequired |
Schedule C IRS990ScheduleC
| Field | Value | IRS element (for citing) |
|---|---|---|
| Political Expenditures | 15082 | PoliticalExpenditures |
| Amt Of Internal Funds Contributed | 15082 | AmtOfInternalFundsContributed |
| Total Exmpt Function Expenditures | 15082 | TotalExmptFunctionExpenditures |
| Form1120 Pol Filed | 1 | Form1120PolFiled |
Sec527 Pol Orgs Sec527PolOrgs
Name Of527 Organization NameOf527Organization
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CREDIT UNION POLITICAL ACTION COUNCIL | BusinessNameLine1 |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1807 WEST DIEHL RD | AddressLine1 |
| City | NAPERVILLE | City |
| State | IL | State |
| ZIP Code | 605667107 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 363092340 | EIN |
| Amt Pd From Internal Funds | 15082 | AmtPdFromInternalFunds |
Form990 Schedule C Part IV Form990ScheduleCPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | ORGANIZATIONS DIRECT AND INDIRECT POLITICAL CAMPAIGN ACTIVITIES: | Identifier |
| Return Reference | PART I-A, LINE 1: | ReturnReference |
| Explanation | THE CREDIT UNION'S ONLY POLITICAL ACTIVITY IS THE CONTRIBUTION TO CREDIT UNION POLITICAL ACTION COUNCIL THAT IS REPORTED IN PARTS I-A AND I-C OF THIS SCHEDULE C. | Explanation |
Schedule D IRS990ScheduleD
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 1032224 | OtherCostOrOtherBasis |
| Book Value | 1032224 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 3726657 | OtherCostOrOtherBasis |
| Depreciation | 1523995 | Depreciation |
| Book Value | 2202662 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 569697 | OtherCostOrOtherBasis |
| Depreciation | 431857 | Depreciation |
| Book Value | 137840 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 5688669 | OtherCostOrOtherBasis |
| Depreciation | 4930577 | Depreciation |
| Book Value | 758092 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 4130818 | TotalOfBookValueLandBuildings |
Other Securities OtherSecurities (13 entries)
| DescriptionDescription | Book ValueBookValue | Method Of ValuationMethodOfValuation |
|---|---|---|
| FANNIE MAE | 85808144 | F |
| FREDDIE MAC | 72831140 | F |
| GINNIE MAE | 11878506 | F |
| CERTIFICATES OF DEPOSIT | 4727497 | C |
| INVESTMENT IN ILLINOIS CREDIT UNION LEAGUE | 250000 | C |
| FEDERAL HOME LOAN BANK | 13389283 | F |
| FARMER MAC | 23260480 | F |
| NCUA GUARANTEED NOTE | 2548715 | F |
| NCUSIF DEPOSIT | 4768837 | C |
| FEDERAL FARM CREDIT BANK | 764458 | C |
| CAPITAL SHARES IN CORPORATE CENTRAL CU | 4008439 | C |
| PRIVATE EXPT FDG | 3706149 | F |
| FDIC GUARANTEED INV | 1996220 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Securities | 229937868 | TotalOfBookValueSecurities |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | MEMBER SHARES | Description |
| Amount | $479,956,369 | Amount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 479956369 | TotalOfAmounts |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | X | TravelForCompanions |
| Club Dues Or Fees | X | ClubDuesOrFees |
| Written Policy Re T And E Expenses | 1 | WrittenPolicyReTAndEExpenses |
| Substantiation Required | 1 | SubstantiationRequired |
| Compensation Survey | X | CompensationSurvey |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | 0 | SeverancePayment |
| Supplemental Nonqual Retire Plan | 1 | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | 0 | EquityBasedCompArrangement |
Form990 Schedule J Part II Form990ScheduleJPartII (3 entries)
| TitleTitle | Base Compensation Filing OrgBaseCompensationFilingOrg | Comp Based On Related OrgsCompBasedOnRelatedOrgs | Bonus Filing OrgBonusFilingOrg | Bonus Related OrgsBonusRelatedOrgs | Other Compensation Filing OrgOtherCompensationFilingOrg | Other Compensation Related OrgsOtherCompensationRelatedOrgs | Deferred Comp Filing OrgDeferredCompFilingOrg | Deferred Comp Related OrgsDeferredCompRelatedOrgs | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Nontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgs | Total Compensation Filing OrgTotalCompensationFilingOrg | Total Compensation Related OrgsTotalCompensationRelatedOrgs | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrg | Comp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PETER PAULSON | ||||||||||||||
| PRESIDENT | 281015 | 0 | 0 | 0 | 0 | 0 | 21869 | 0 | 16500 | 0 | 319384 | 0 | 0 | 0 |
| ELLEN MEEHAN | ||||||||||||||
| SENIOR VICE PRESIDENT | 133034 | 0 | 0 | 0 | 0 | 0 | 11419 | 0 | 12394 | 0 | 156847 | 0 | 0 | 0 |
| RICHARD K WELLNER | ||||||||||||||
| FORMER PRESIDENT | 0 | 0 | 0 | 0 | 161555 | 0 | 0 | 0 | 0 | 0 | 161555 | 0 | 0 | 0 |
Form990 Schedule J Part III Form990ScheduleJPartIII (2 entries)
| Return ReferenceReturnReference | ExplanationExplanation |
|---|---|
| PART I, LINE 1A | TRAVEL FOR COMPANIONS - SIGNIFICANT OTHER REIMBURSEMENT FOR BOARD DIRECTORS IS AUTHORIZED IF IT IS REASONABLE, APPROPRIATE, AND NECESSARY TO CARRY ON CREDIT UNION RELATED BUSINESS. SIGNIFICANT OTHER REIMBURSEMENT FOR EMPLOYEES MUST HAVE PRIOR APPROVAL BY THE PRESIDENT/CEO. PAYMENTS FOR TRAVEL EXPENSES OF A SIGNIFICANT OTHER IS CONSIDERED TAXABLE INCOME. HEALTH OR SOCIAL CLUB DUES - THE EMPLOYEE WELLNESS PROGRAM WILL PROVIDE HALF OF THE COST, WITH A MAXIMUM REIMBURSEMENT OF $300, TO EMPLOYEES PARTICIPATING IN ALLOWABLE PROGRAMS THAT CONTRIBUTE TO THEIR OVERALL HEALTH AND WELFARE FOR THE CALENDAR YEAR. ANY REIMBURSEMENT FOR HEALTH CLUB DUES/WELLNESS PROGRAMS ARE INCLUDED AS TAXABLE INCOME. |
| PART I, LINE 4B | RICHARD WELLNER IS THE RETIRED PRESIDENT OF THE CREDIT UNION WHO IS RECEIVING BENEFITS FROM A NON-QUALIFIED DEFERRED COMPENSATION PLAN, WHICH PAYS OVER A TEN YEAR PERIOD. THE COMPENSATION IS APPROPRIATELY REPORTED IN PART VII COLUMN D AND SCHDULE J, PART II, COLUMN (B)(III). |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (9 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| NEW PROGRAM SERVICES | FORM 990, PART III, LINE 2 | AS OF JANUARY 1, 2012 CORPORATE AMERICA FINANCIAL SERVICES, INC., A 100% OWNED FOR-PROFIT SUBSIDIARY OF CAFCU TRANSFERED THE FOLLOWING INSURANCE PRODUCTS AND SERVICES: DEBT CANCELLATION, MECHANICAL REPAIR COVERAGE, GUARANTEED ASSET PROTECTION, ACCIDENTAL DEATH AND DISMEMBERMENT, AND MEMBER CONNECT TO THE CREDIT UNION. A VALUATION WAS COMPLETED FOR THIS TRANSFER, WHICH RESULTED IN TAXABLE INCOME TO CORPORATE AMERICA FINANCIAL SERVICES, INC. |
| FORM 990, PART VI, SECTION A, LINE 6 | THE CREDIT UNION'S MEMBERS HAVE RIGHTS TO ELECT THE MEMBERS OF THE GOVERNING BODY. THE CREDIT UNION'S MEMBERS ALSO RECEIVE A SHARE OF THE ORGANIZATION'S PROFITS IN THE FORM OF COMPETITIVE SHARE AND LOAN RATES. | |
| FORM 990, PART VI, SECTION A, LINE 7A | MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO ELECT ONE OR MORE MEMBERS OF THE ORGANIZATION'S GOVERNING BODY, WHETHER PERIODICALLY, OR AS VACANCIES ARISE, OR OTHERWISE. | |
| FORM 990, PART VI, SECTION A, LINE 7B | MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. | |
| FORM 990, PART VI, SECTION B, LINE 11 | THE BOARD MEMBERS WERE PROVIDED WITH A COPY OF THE FORM 990 VIA THE BOARD INTRANET WITH TIME TO REVIEW AND COMMENT. | |
| 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. | |
| FORM 990, PART VI, SECTION B, LINE 15 | 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 CEO'S SALARY. THE CEO'S SALARY IS SUBJECT TO BOARD APPROVAL. | |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ANNUAL REPORTS ARE AVAILABLE ON THE CREDIT UNION WEBSITE. CONFLICT OF INTEREST POLICY/CODE OF PROFESSIONAL STANDARDS AND GOVERNING DOCUMENTATION ARE AVAILABLE UPON REQUEST. | |
| CHANGES IN NET ASSETS OR FUND BALANCES: | FORM 990, PART XI, LINE 9: | INCOME FROM WHOLLY OWNED SUBSIDIARY -111,624. |
Schedule R IRS990ScheduleR
Form990 Schedule R Part IV Form990ScheduleRPartIV
Name Of Related Org NameOfRelatedOrg
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CORPORATE AMERICA FINANCIAL SERVICES INC | BusinessNameLine1 |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2075 BIG TIMBER ROAD | AddressLine1 |
| City | ELGIN | City |
| State | IL | State |
| ZIP Code | 601231140 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 364108945 | EIN |
| Primary Activity | INSURANCE/NONMEMBER ACTIVITY | PrimaryActivity |
| Legal Domicile State | IL | LegalDomicileState |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CORPORATE AMERICA FAMILY CREDIT UNION | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Type Of Entity | C | TypeOfEntity |
| Share Of Total Income | 118489 | ShareOfTotalIncome |
| Share Of EOY Assets | 554177 | ShareOfEOYAssets |
| Percentage Ownership | 1.00000 | PercentageOwnership |
| Controlled Org | 1 | ControlledOrg |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Ann Rents Royalties | 0 | ReceiptOfIntAnnRentsRoyalties |
| Gift Grant Or Cap Contr To Other Org | 0 | GiftGrantOrCapContrToOtherOrg |
| Gift Grant Or Cap Contr Fr Other Org | 0 | GiftGrantOrCapContrFrOtherOrg |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrg |
| Loans Or Guarantees From Other Org | 0 | LoansOrGuaranteesFromOtherOrg |
| Dividends Related Organization | 0 | DividendsRelatedOrganization |
| Sale Of Assets To Other Org | 0 | SaleOfAssetsToOtherOrg |
| Purchase Of Assets From Other Org | 0 | PurchaseOfAssetsFromOtherOrg |
| Exchange Of Assets | 0 | ExchangeOfAssets |
| Rental Of Facilities To Other Orgs | 0 | RentalOfFacilitiesToOtherOrgs |
| Rental Of Facilities Fr Other Orgs | 0 | RentalOfFacilitiesFrOtherOrgs |
| Perform Of Services For Other Orgs | 0 | PerformOfServicesForOtherOrgs |
| Perform Of Services By Other Orgs | 0 | PerformOfServicesByOtherOrgs |
| Sharing Of Facilities | 0 | SharingOfFacilities |
| Sharing Of Paid Employees | 1 | SharingOfPaidEmployees |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrg |
| Reimbursement Paid By Other Org | 1 | ReimbursementPaidByOtherOrg |
| Other Transfer To Other Org | 1 | OtherTransferToOtherOrg |
| Other Transfer From Other Org | 1 | OtherTransferFromOtherOrg |
Transactions Related Orgs Table TransactionsRelatedOrgsTable (4 entries)
| Transaction TypeTransactionType | Amount InvolvedAmountInvolved | Method Of Amt DeterminationMethodOfAmtDetermination |
|---|---|---|
| CORPORATE AMERICA FINANCIAL SERVICES INC | ||
| O | 55164 | ACTUAL AMOUNT |
| CORPORATE AMERICA FINANCIAL SERVICES INC | ||
| Q | 99506 | ACTUAL AMOUNT |
| CORPORATE AMERICA FINANCIAL SERVICES INC | ||
| R | 118489 | ACTUAL AMOUNT |
| CORPORATE AMERICA FINANCIAL SERVICES INC | ||
| S | 191000 | PER VALUATION |