2012-11-15T10:13:35-06:00 2011-12-31 420714325 MCGLADREY LLP 400 LOCUST ST STE 640 DES MOINES IA 503092354 990 2011-01-01 830494970 IOWA CREDIT UNION LEAGUE IOWA 5152213000 1500 NW 118TH STREET DES MOINES IA 50325 MICHAEL J POWERS 5152213000 2012-11-14 1 VIRGINIA M STRIEGEL P00436877 5155586600 2011 2016-02-24 21:20:13Z MICHAEL J POWERS 1500 NW 118TH STREET DES MOINES IA 50325 10963626 0 X WWW.IOWACREDITUNIONS.COM X 1933 IA TO STRENGTHEN THE CREDIT UNION MOVEMENT BY PROMOTING ITS GROWTH AND WELL-BEING, AND PROVIDING THE TOOLS FOR MEMBERS TO SUCCEED. 12 12 0 31 52900 -113003 0 0 1201848 1198799 259965 740075 31162 52664 1492975 1991538 32425 25816 0 0 791203 772264 0 0 0 1541979 1549563 2365607 2347643 -872632 -356105 20061455 19309815 916651 959339 19144804 18350476 X THE IOWA CREDIT UNION LEAGUE (ICUL) IS THE NON-PROFIT TRADE ASSOCIATION THAT REPRESENTS THE INTERESTS OF IOWA'S CREDIT UNIONS. ICUL WAS ESTABLISHED IN 1933 AND CONTINUES TO FOCUS ON OUR MISSION "TO STRENGTHEN THE CREDIT UNION MOVEMENT BY PROMOTING ITS GROWTH AND WELL-BEING, AND PROVIDING THE TOOLS FOR MEMBERS TO SUCCEED." ICUL PROVIDES THE FOLLOWING SERVICES TO IOWA CREDIT UNIONS: LEGISLATIVE ADVOCACY, REGULATORY COMPLIANCE, PUBLIC AFFAIRS, PROFESSIONAL DEVELOPMENT AND MANAGEMENT CONSULTING. 0 0 LEGISLATIVE ADVOCACY - WORK TO SECURE A FAIR AND FAVORABLE LEGISLATIVE ENVIRONMENT FOR IOWA CREDIT UNIONS THROUGH PROFESSIONAL LOBBYING, COALITION BUILDING, GRASSROOTS ORGANIZATION AND THE CREDIT UNION POLITICAL ACTION COMMITTEE. REGULATORY COMPLIANCE - MONITOR REGULATORY ISSUES, FIELD COMPLIANCE QUESTIONS, PROVIDE STRATEGIC DIRECTION CONCERNING CREDIT UNION COMPLIANCE ISSUES, AND CONDUCT BSA INDEPENDENT TESTS AND WEBSITE COMPLIANCE AUDITS. PUBLIC AFFAIRS AND MARKETING - THE PUBLIC RELATIONS AND MARKETING DEPARTMENT WORKS CLOSELY WITH CREDIT UNIONS TO DISSEMINATE PERTINENT INFORMATION TO THE MEDIA AND COMMUNITY ABOUT IOWA CREDIT UNIONS AND NEW DEVELOPMENTS IN THE INDUSTRY. ALSO SERVES AS THE RESOURCE FOR COMMUNITY AND MEDIA RELATIONS, MARKETING THE CREDIT BRAND, AND THE ANNUAL ADVOCACY CAMPAIGN. PROFESSIONAL DEVELOPMENT - THE LEAGUE, IN PARTNERSHIP WITH CUNA, HOLDS NUMEROUS PROFESSIONAL DEVELOPMENT SEMINARS EACH YEAR FOR IOWA CREDIT UNIONS TO HELP THEM LEARN MORE ABOUT HOW TO BEST SERVE THEIR MEMBERS. THE EDUCATION DEPARTMENT HELPS ORGANIZE ANNUAL CONVENTION AND MANAGES THE VENDOR INVOLVMENT PROGRAM. MANAGMENT CONSULTATION - THE MANAGEMENT CONSULTANTS AT ICUL ARE STRATEGIC PARTNERS WITH INDIVIDUAL CREDIT UNIONS TO HELP THEM IDENTIFY GOALS AND CHALLENGES, AND PREPARE FOR THE FUTURE DEVELOPMENT OF THEIR CREDIT UNION. 0 0 0 1 0 0 0 0 0 1 1 0 0 0 1 0 1 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 1 16 0 1 0 1 1 1 0 0 0 0 0 X 12 12 1 1 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 0 0 0 X MICHAEL J POWERS CFO 5152213000 1500 NW 118TH STREET DES MOINES IA 50325 X JOHN BENTLER 1.00 X 0 0 0 JANINE KEIM 1.00 X 0 0 0 JONATHON MILLER 1.00 X 0 0 0 TIM MARCSISAK 1.00 X 0 0 0 MIKE WHITTIE 1.00 X 0 0 0 DAVE CALE 1.00 X 0 0 0 JOE HEARN 1.00 X 0 0 0 TIM CHAPMAN 1.00 X 0 0 0 DENNIS CHOATE 1.00 X 0 0 0 PAT DRENNEN 1.00 X 0 0 0 TIM WALLEN 1.00 X 0 0 0 BRENT HELIN 1.00 X 0 0 0 JIM HAGERMAN 1.00 X 0 0 0 DENNIS SIEMERS 1.00 X 0 0 0 PATRICK JURY 8.00 X 0 606112 32050 MURRAY WILLIAMS 32.00 X 0 158863 35450 MIKE POWERS 8.00 X 0 231708 37954 0 996683 105454 0 0 1 0 THE MEMBERS GROUP HOLDING COMPANY INC 1500 NW 118TH STREET DES MOINES IA 50325 PAYROLL 766033 AFFILIATES MANAGEMENT COMPANY - POLICYWO 1500 NW 118TH STREET DES MOINES IA 50325 LOBBYING & REGULATORY SERVICE 552799 AFFILIATES MANAGEMENT COMPANY (AMC) 1500 NW 118TH STREET DES MOINES IA 50325 MANAGEMENT SERVICES 263340 3 MEMBERSHIP DUES 561000 975033 975033 ANNUAL MEETING 561000 182829 182829 SERVICE FEES 561000 40937 40701 236 1198799 223782 223782 9488381 8972088 516293 516293 516293 MANAGEMENT CONTRACTS 561000 52664 52664 52664 1991538 1198563 52900 740075 1808 24008 289214 340811 49634 52091 40514 160296 49114 72818 44789 25713 71935 46030 50155 44182 60276 83978 130764 1054 24978 4371 SUPPORT SERVICES 613470 EDUCATION & TRAINING 30071 HUMAN RESOURCES 28848 RECEPTIONIST 3852 2869 2347643 5054269 150955 45241 41553 77890 103506 221849 161001 46466 60848 8480 8480 14827716 18943322 1393 1151 20061455 19309815 842986 676056 73665 283283 916651 959339 X 0 0 0 0 19144804 18350476 19144804 18350476 20061455 19309815 X -356105 -438223 X 0 1 1 X 0 1 1 0 PART IV, SUPPLEMENTAL INFORMATION: PURSUANT TO REV. PROC. 98-19, EXEMPT FROM 6033(E) DISCLOSURE AS ALL MEMBERS UNDER IRC SECTION 501(A), NOT SECTION 501(C)(4)/(5)/(6). 49152 47387 1765 172697 113614 59083 60848 10051994 C INVESTMENT IN CREDIT UNION HOUSE LLC 37695 F PUBLICLY TRADED SECURITIES 8751632 F INVESTMENT IN IOWA BUSINESS GROWTH 2001 F INVESTMENT IN CU PARTNER LINK 100000 F 18943322 1991538 2347643 -356105 -931061 492838 -438223 -794328 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE COMPANY FOLLOWS THE ACCOUNTING STANDARD ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, WHICH ADDRESSES THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. THE COMPANY HAS EVALUATED THE MATERIAL TAX POSITIONS AND DETERMINED NO INCOME TAX EFFECTS WITH RESPECT TO THE FINANCIAL STATEMENTS. PART XI, LINE 8 - OTHER ADJUSTMENTS: EQUITY EARNINGS OF AFFILIATES MANAGEMENT COMPANY 492,838. PANAMA REGION 0 0 CREDIT UNION AWARENESS - PROGRAM SERVICES SEE PART V. 24008 0 0 0 0 0 0 24008 0 24008 0 0 0 0 0 0 SCHEDULE F, PART 1, LINE 3, COLUMN E: TYPE OF SERVICE THROUGH PARTNERSHIP, ICUL HAS HELPED TO OPEN THE DOORS FOR PANAMA'S NATIONAL CREDIT UNION SERVICE ORGANIZATION, CORPORACION FONDO DE ESTABILIZACION Y GARANTIA DE COOPERATIVAS DE AHORRO Y CREDITA DE PANAMA (COFEP), TO HAVE A VOICE WITHIN PANAMA'S GOVERNMENT, HELPING COFEP ACCOMPLISH ITS MISSION OF CRAFTING AND PASSING SPECIFIC REGULATIONS AND A LAW FOR THE CREDIT UNION INDUSTRY. ICUL ACHIEVED THIS BY CREATING AWARENESS WITHIN COFEP THAT THE BEST WAY TO ADVANCE THE INDUSTRY IS TO HAVE CONNECTIONS WITHIN THE GOVERNMENT THROUGH A WELL-THOUGHT OUT LOBBYING STRATEGY. ICUL HAS ALSO STARTED TO BUILD AWARENESS WITHIN COFEP OF THE NEED TO DIVERSIFY ITS REVENUE STREAMS AND RELY LESS ON DUES BY CREATING NEW PRODUCTS AND SERVICES THAT ARE IN DEMAND AND THAT WILL SATISFY MEMBER CREDIT UNION NEEDS. ICUL HAS PARTICIPATED IN SIX INTERNATIONAL CONFERENCES ATTENDED BY 625 CREDIT UNION PARTICIPANTS. ICUL REPRESENTATIVES HAVE SERVED AS MC'S AND EXPERT PANELISTS AT THESE EVENTS. ICUL AND COFEP ARE CURRENTLY ADOPTING A NEW PROJECT, THE DEVELOPMENT OF A CENTRAL FINANCE FACILITY OR "CAJA CENTRAL." THE DEVELOPMENT OF THE CAJA CENTRAL WOULD ALLOW PANAMA CREDIT UNIONS TO INVEST THEIR LIQUIDITY IN A CREDIT UNION RATHER THAN A BANK. THE EFFORT OPENED THE DOOR FOR 1ST GATEWAY CREDIT UNION IN CAMANCHE, IOWA TO CREATE A RELATIONSHIP WITH THE US EMBASSY CREDIT UNION IN PAMANA CITY, PANAMA. THE INTENTION IS TO EXPLORE OPPORTUNITIES FOR COLLABORATION. 0 1 0 PATRICK JURY 0 336205 0 186737 0 83170 0 12250 0 19800 0 638162 0 0 MURRAY WILLIAMS 0 133188 0 22819 0 2856 0 19504 0 15946 0 194313 0 0 MIKE POWERS 0 182992 0 42854 0 5862 0 25820 0 12134 0 269662 0 0 SUPPLEMENTAL INFORMATION PART III PATRICK JURY, MURRAY WILLIAMS, AND MIKE POWERS RECEIVE COMPENSATION FROM THE MEMBERS GROUP (TMG). TMG PROVIDES ALL COMPENSATION AND HUMAN RESOURCE FUNCTIONS FOR ICUL, INCLUDING EXECUTIVE MANAGEMENT. SEE CORE FORM PART VI SECTION B LINE 15 FOR FURTHER INFORMATION REGARDING THE PROCESS UTILIZED. SUPPLEMENTAL INFORMATION PART III MIKE POWERS AND MURRAY WILLIAMS PARTICIPATED IN A NON QUALIFIED DEFERRED COMPENSATION PLAN. MIKE POWERS $13,748 MURRAY WILLIAMS $10,904 FORM 990, PART VI, SECTION A, LINE 2 JOE HEARN, TIM CHAPMAN, MIKE POWERS, MURRAY WILLIAMS, AND PATRICK JURY ARE OFFICERS, DIRECTORS, OR KEY EMPLOYEES OF POLICYWORKS, A 100% OWNED RELATED ENTITY THAT HAS A BUSINESS RELATIONSHIP WITH IOWA CREDIT UNION LEAGUE. PATRICK JURY, DALE CALE, AND MIKE POWERS, ARE OFFICERS, DIRECTORS, OR KEY EMPLOYEES OF COMMUNITY BUSINESS LENDERS, A 53.33% OWNED RELATED ENTITY THAT HAS A BUSINESS RELATIONSHIP WITH IOWA CREDIT UNION LEAGUE. JOE HEARN, TIM CHAPMAN, PATRICK JURY, MURRAY WILLIAMS, AND MIKE POWERS ARE OFFICERS, DIRECTORS, OR KEY EMPLOYEES OF AFFILIATES MANAGEMENT COMPANY, A 100% OWNED RELATED ENTITY THAT HAS A BUSINESS RELATIONSHIP WITH IOWA CREDIT UNION LEAGUE. PATRICK JURY, PAT DRENNEN,AND TIM MARCSISAK ARE OFFICERS, DIRECTORS, OR KEY EMPLOYEES OF TMG FINANCIAL SERVICES, A 82.47% OWNED RELATED ENTITY THAT HAS A BUSINESS RELATIONSHIP WITH IOWA CREDIT UNION LEAGUE. FORM 990, PART VI, SECTION A, LINE 3 THE MEMBERS GROUP, A 100% OWNED RELATED ENTITY, IS THE PAYROLL AGENT FOR THE ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 3 AFFILIATES MANAGMENT COMPANY, A 100% OWNED RELATED ENTITY, PROVIDES ACCOUNTING, HUMAN RESOURCES, RISK MANAGEMENT, AND FACILITIES MANAGEMENT FOR THE ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 6 THIS ORGANIZATION HAS MEMBERS. THESE MEMBERS MAY BE DIVIDED INTO TWO CLASSES: REGULAR MEMBERS AND ASSOCIATE MEMBERS. REGULAR MEMBERS INCLUDE ALL MEMBERS THAT ARE CREDIT UNIONS INCORPORATED IN THE STATE OF IOWA, WHETHER STATE OR FEDERALLY CHARTERED. ASSOCIATE MEMBERS INCLUDE ALL MEMBERS THAT ARE CREDIT UNIONS LOCATED OUTSIDE THE STATE OF IOWA, WHETHER STATE OR FEDERALLY CHARTERED, AND ANY OTHER MEMBERS THAT THE BOARD OF DIRECTORS AUTHORIZES FOR MEMBERSHIP. REGULAR MEMBERS SHALL HAVE VOTING RIGHTS: ASSOCIATE MEMBERS SHALL NOT HAVE VOTING RIGHTS. FORM 990, PART VI, SECTION A, LINE 7A AT LEAST FIVE MONTHS PRIOR TO THE LEAGUE'S ANNUAL MEETING, THE LEAGUE WILL SEND TO ALL MEMBERS THE FOLLOWING: 1) A REPORT OF EACH MEMBER'S RESPECTIVE ASSET CATEGORY, BASED ON THE MOST RECENT CALL REPORT DATA; AND 2) A NOMINATION FORM INDICATING THE OPEN BOARD POSITION(S) TO BE FILLED WITHIN EACH RESPECTIVE ASSET CATEGORY AT THE UP-COMING ELECTION. THE BOARD OF DIRECTORS OF ANY MEMBER CREDIT UNION MAY NOMINATE ONE (1) OF THE MEMBERS OF THE CREDIT UNION AS A CANDIDATE IN WHICH THERE WILL BE A VACANCY AT THE ENSUING ANNUAL MEETING AND (2) THE CREDIT UNION DOES NOT ALREADY HAVE A MEMBER ON THE BOARD, UNLESS THE CURRENT DIRECTOR'S TERM IS EXPIRING OR IS NOT SEEKING RE-ELECTION. WITHIN THIRTY (30) DAYS FOLLOWING THE LEAGUE'S DISTRIBUTION OF A NOMINATION FOR THE MEMBERS, EACH MEMBER SHALL SUBMIT ITS NOMINATION. WITHIN THIRTY (30) DAYS FOLLOWING THE DEADLINE FOR THE SUBMISSION OF NOMINATION FORMS TO THE LEAGUE, THE LEAGUE SHALL SEND TO ALL MEMBERS THE LIST OF CANDIDATES WITHIN THEIR RESPECTIVE ASSET CATEGORY FOR OPEN BOARD POSITION (2) TO BE FILLED. EACH MEMBER CREDIT UNION SHALL BE ENTITLED TO CAST A VOTE FOR EACH DIRECTOR TO BE ELECTED IN ITS RESPECTIVE ASSET CATEGORY. A NOMINEE MUST RECEIVE A MAJORITY OF THE VOTES CAST IN ORDER TO BE DECLARED ELECTED. WITHIN THIRTY (30) DAYS FOLLOWING THE DEADLINE FOR THE LEAGUE TO SEND THE LIST OF CANDIDATES TO EACH MEMBER, EACH MEMBER WILL SEND ITS VOTE TO THE LEAGUE FOR TABULATION. FORM 990, PART VI, SECTION A, LINE 7B AT ALL MEETINGS EACH MEMBER CREDIT UNION SHALL BE ENTITLED TO CAST TWO (2) VOTES ON ALL QUESTIONS. SAID VOTES SHALL BE CAST BY ONE (1) OF TWO (2) DELEGATES OR ALTERNATIVES WHO MUST BE MEMBERS OF THE CREDIT UNION, AND WHO HAVE BEEN SELECTED BY THAT CREDIT UNION'S BOARD OF DIRECTORS, WHICH SELECTIONS SHALL BE CERTIFIED TO THE CREDENTIALS COMMITTEE PRIOR TO EACH MEETING. ONLY DELEGATES OR ALTERNATIVES SO CERTIFIED SHALL HAVE THE PRIVILEGE OF VOTING AT ANY MEETING. THERE SHALL NOT BE VOTING BY PROXY. AT ALL REGULAR OR SPECIAL MEETINGS TEN PERCENT (10%) OR MORE OF THE MEMBER CREDIT UNIONS SHALL CONSTITUTE A QUORUM. FORM 990, PART VI, SECTION B, LINE 11 A COPY OF THE FORM 990 IS PROVIDED TO THE BOARD OF DIRECTORS PRIOR TO THE FILING. FORM 990, PART VI, SECTION B, LINE 12C IOWA CREDIT UNION LEAGUE REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES ITS CONFLICT OF INTEREST POLICY BY ANNUALLY REVIEWING THE POLICY WITH BOARD MEMBERS AND HAVING THEM SIGN THE FORM EACH YEAR. ADHERANCE TO THE POLICY IS MONITORED BY FELLOW BOARD MEMBERS AND EXECUTIVE MANAGEMENT THROUGHOUT THE YEAR. AFFILIATES MANAGMENT COMPANY (AMC) IS A 100% OWNED RELATED ENTITY OF THE IOWA CREDIT UNION LEAGUE (ICUL). THE AMC BOARD OF DIRECTORS HAS FORMED A COMPENSATION COMMITTEE TO REVIEW MARKET DATA COMPILED BY AN INDEPENDENT THIRD PARTY AND OTHER RELEVANT INFORMATION TO DESIGN THE COMPENSATION PLAN FOR THE CEO. THE REVIEW IS DONE ON AN ANNUAL BASIS WITH THE LATEST REVIEW COMPLETED IN 2011. THE PLAN DESIGNED BY THE AMC COMPENSATION COMMITTEE IS SUBJECT TO REVIEW BY THE ICUL BOARD OF DIRECTORS. THE COMPENSATION OF THE OTHER KEY OFFICIALS OF THE ORGANIZATION IS ESTABLISHED BY THE CEO AFTER REVIEW OF THE MARKET DATA COMPILED BY AN INDEPENDENT THIRD PARTY AND OTHER RELEVANT FACTORS. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST STATEMENTS, AND FORM 990 RETURNS ARE AVAILABLE UPON REQUEST. FORM 990, PART VII AVERAGE HOURS PER WEEK DEVOTED TO POSITION WITH RELATED ORGANIZATION: PATRICK JURY 32 HOURS MIKE POWERS 32 HOURS MURRAY WILLIAMS 8 HOURS CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -931,061. EQUITY EARNINGS OF AFFILIATES MANAGEMENT COMPANY 492,838. TOTAL TO FORM 990, PART XI, LINE 5: -438,223. FORM 990, PART I, LINE 6: EXPLANATION OF VOLUNTEERS 14 MEMBERS SERVED ON THE ORGANIZATION'S BOARD OF DIRECTORS DURING THE YEAR AND ARE CONSIDERED VOLUNTEERS. THERE ARE ALSO ANOTHER 17 OTHER INDIVIDUALS WHO WORK ON COMMITTEES AS VOLUNTEERS. NO BOARD OR COMMITTEE MEMBERS RECEIVED ANY COMPENSATION. 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