IAA CREDIT UNION: Form 990, tax year 2022
View the entire original 990 at ProPublica ↗
- Organization
- IAA CREDIT UNION (EIN 37-6031888)
- Tax period
- 2022-01-01 to 2022-12-31
- Filed
- 2023-06-28
- IRS object ID
- 202301799349300830
- 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 | 2023-06-28T10:34:22-05:00 | ReturnTs |
| Tax Period End | 2022-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 410746749 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CLIFTONLARSONALLEN LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 109 N MAIN STREET SUITE 200 | AddressLine1Txt |
| City | AUSTIN | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 55912 | 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 | 376031888 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | IAA CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | IAAC | BusinessNameControlTxt |
| Phone | 3095572541 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 808 IAA DRIVE | AddressLine1Txt |
| City | BLOOMINGTON | CityNm |
| State Abbreviation | IL | StateAbbreviationCd |
| ZIP | 61702 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | T SEAN WELLS | PersonNm |
| Person Title | CHIEF EXECUTIVE OFFICER | PersonTitleTxt |
| Phone | 3095572541 | PhoneNum |
| Signature | 2023-05-18 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | T | PersonFirstNm |
| Person Last | SEAN WELLS | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | XXX-XX-XXXX | 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 | TANYA MEDGAARDEN | PreparerPersonNm |
| PTIN | P01717240 | PTIN |
| Phone | 5074347000 | PhoneNum |
| Preparation | 2023-05-16 | 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 | T SEAN WELLS | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 808 IAA DRIVE | AddressLine1Txt |
| City | BLOOMINGTON | CityNm |
| State Abbreviation | IL | StateAbbreviationCd |
| ZIP | 61702 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $13,399,516 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.IAACU.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1951 | FormationYr |
| Legal Domicile State | IL | LegalDomicileStateCd |
| Activity Or Mission | BUILD FINANCIAL RELATIONSHIPS TO ENRICH MEMBERS' LIVES. | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 9 | VotingMembersIndependentCnt |
| Total Employee | 0 | TotalEmployeeCnt |
| Total Volunteers | 11 | TotalVolunteersCnt |
| Total Gross UBI | $33,405 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $9,903,994 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $10,933,223 | CYProgramServiceRevenueAmt |
| PY Investment Income | $1,068,929 | PYInvestmentIncomeAmt |
| CY Investment Income | $2,466,293 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $10,972,923 | PYTotalRevenueAmt |
| CY Total Revenue | $13,399,516 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $4,500 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $4,750 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $1,406,675 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $1,863,870 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $0 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $0 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $6,594,868 | PYOtherExpensesAmt |
| CY Other Expenses | $7,503,828 | CYOtherExpensesAmt |
| PY Total Expenses | $8,006,043 | PYTotalExpensesAmt |
| CY Total Expenses | $9,372,448 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $2,966,880 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $4,027,068 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $345,554,883 | TotalAssetsBOYAmt |
| Total Assets EOY | $362,260,111 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $306,797,468 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $319,475,628 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $38,757,415 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $42,784,483 | NetAssetsOrFundBalancesEOYAmt |
| Mission | BUILD FINANCIAL RELATIONSHIPS TO ENRICH MEMBERS' LIVES. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | PROVIDE 4,660 CONSUMER LOANS, 1,056 REAL ESTATE LOANS AND 5,703 VISA ACCOUNTS TO MEMBERS. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | PROVIDED 24,936 SAVINGS AND MONEY MARKET SAVINGS ACCOUNTS, 8,733 SHARE DRAFT ACCOUNTS, 2,125 HSA AND IRA ACCOUNTS, AND 3,115 CERTIFICATE ACCOUNTS TO MEMBERS. | 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 | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | Yes (1) | 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 | 0 | 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 | 5190 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 0 | EmployeeCnt |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| 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 | 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 | 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 | NICK SOSNOWSKI | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 3095572541 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 808 IAA DRIVE | AddressLine1Txt |
| City | BLOOMINGTON | CityNm |
| State Abbreviation | IL | StateAbbreviationCd |
| ZIP | 61701 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| No Listed Persons Compensated | Yes (X) | NoListedPersonsCompensatedInd |
Form990 Part VII Section A Form990PartVIISectionAGrp (9 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt |
|---|---|---|---|---|---|---|
| TOM SWEARINGEN | ||||||
| CHAIRPERSON | 0.75 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| DOUG CARROLL | ||||||
| VICE-CHAIRPERSON | 0.75 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| JACOB CROW | ||||||
| TREASURER | 0.75 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| KRISTIN ADAMS | ||||||
| SECRETARY | 0.75 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| JOHN HENDERSON | ||||||
| BOARD MEMBER | 0.75 | Yes (X) | $0 | $0 | $0 | |
| TASHA BUNTING | ||||||
| BOARD MEMBER | 0.75 | Yes (X) | $0 | $0 | $0 | |
| MELISSA RHODE | ||||||
| SUPERVISORY COMMITTEE CHAIR | 0.75 | Yes (X) | $0 | $0 | $0 | |
| BRIAN GUENTHER | ||||||
| BOARD MEMBER | 0.75 | Yes (X) | $0 | $0 | $0 | |
| KRISTEN FAUCON | ||||||
| BOARD MEMBER | 0.75 | Yes (X) | $0 | $0 | $0 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $0 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $0 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 0 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | 0 | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp
Contractor Name ContractorName
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ILLINOIS AGRICULTURAL ASSOCIATION | BusinessNameLine1Txt |
Contractor Address ContractorAddress
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1701 TOWANDA AVE | AddressLine1Txt |
| City | BLOOMINGTON | CityNm |
| State Abbreviation | IL | StateAbbreviationCd |
| ZIP | 61701 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Services | LEASED EMPLOYEES | ServicesDesc |
| Compensation | $4,032,210 | CompensationAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 1 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| INTEREST, FEES ON LOANS | 522100 | $7,928,927 | $7,928,927 | |
| INTERCHANGE AND OTHER INCOME | 522100 | $2,588,845 | $2,588,845 | |
| OTHER MEMBER FEES | 522100 | $415,451 | $382,046 | $33,405 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $10,933,223 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $2,466,293 | TotalRevenueColumnAmt |
| Exclusion | $2,466,293 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $13,399,516 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $10,899,818 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $33,405 | UnrelatedBusinessRevenueAmt |
| Exclusion | $2,466,293 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,750 | TotalAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,863,870 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $131,888 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,140,417 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $222,981 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $21,918 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $582,325 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $291,551 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $20,660 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| LEASED EMPLOYEE REIMBUR | $4,147,845 |
| LOAN SERVICING | $497,663 |
| PROFESSIONAL/OUTSIDE SE | $252,849 |
| PROVISION FOR LOAN LOSS | $162,000 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $31,731 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $9,372,448 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $49,902,380 | BOYAmt |
| EOY | $21,398,824 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $39,780,000 | BOYAmt |
| EOY | $14,936,000 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $193,760,747 | BOYAmt |
| EOY | $210,768,810 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $3,918,593 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $2,181,618 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,808,617 | BOYAmt |
| EOY | $1,736,975 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $56,052,651 | BOYAmt |
| EOY | $106,680,449 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $1,871,664 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,250,488 | BOYAmt |
| EOY | $4,867,389 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $345,554,883 | BOYAmt |
| EOY | $362,260,111 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,572,021 | BOYAmt |
| EOY | $4,181,426 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $924,810 | BOYAmt |
| EOY | $971,965 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $303,300,637 | BOYAmt |
| EOY | $314,322,237 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $306,797,468 | BOYAmt |
| EOY | $319,475,628 | 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 | $38,757,415 | BOYAmt |
| EOY | $42,784,483 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $38,757,415 | BOYAmt |
| EOY | $42,784,483 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $345,554,883 | BOYAmt |
| EOY | $362,260,111 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $4,027,068 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $0 | 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 | $1,000 | PoliticalExpendituresAmt |
| Volunteer Hours | 0 | VolunteerHoursCnt |
| Internal Funds Contributed | $1,000 | InternalFundsContributedAmt |
| Total Exempt Function Expend | $1,000 | 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 ROAD P O BOX 3107 | AddressLine1Txt |
| City | NAPERVILLE | CityNm |
| State Abbreviation | IL | StateAbbreviationCd |
| ZIP | 60566 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 363092340 | EIN |
| Paid Internal Funds | $1,000 | PaidInternalFundsAmt |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART I-A, LINE 1: | CREDIT UNION POLITICAL ACTION COUNCIL |
| SCHEDULE C, PART IV, ADDITIONAL INFORMATION | THE ORGANIZATION'S ONLY POLITICAL ACTIVITY IS THE CONTRIBUTION TO THE CREDIT UNION POLITICAL ACTION COUNCIL (CUPAC) THAT IS REPORTED IN PARTS I-A AND I-C OF THIS SCHEDULE C. |
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 |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,779,217 | OtherCostOrOtherBasisAmt |
| Depreciation | $494,851 | DepreciationAmt |
| Book Value | $1,284,366 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $2,139,376 | OtherCostOrOtherBasisAmt |
| Depreciation | $1,686,767 | DepreciationAmt |
| Book Value | $452,609 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $1,736,975 | TotalBookValueLandBuildingsAmt |
Invst Program Related Org InvstProgramRelatedOrgGrp (3 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| US GOV'T AND AGENCY BONDS- HELD TO MATURITY | $102,771,862 | C |
| PERPETUAL CONTRIBUTED CAPITAL ACCOUNTS | $206,367 | C |
| FEDERAL HOME LOAN BANK STOCK | $3,702,220 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Program Rltd | $106,680,449 | TotalBookValueProgramRltdAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | SHARES AND DEPOSITS | Desc |
| Amt | $314,322,237 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $314,322,237 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $13,399,516 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $13,399,516 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $13,399,516 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $9,372,448 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $9,372,448 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $9,372,448 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART IV, LINE 2B: | ESCROW LIABILITY ARRANGEMENT EXPLANATION FUNDS FOR ESCROW ITEMS-BORROWER SHALL PAY TO LENDER ON THE DAY PERIODIC PAYMENTS ARE DUE UNDER THE NOTE, UNTIL THE NOTE IS PAID IN FULL, A SUM (THE "FUNDS") TO PROVIDE FOR PAYMENT OF AMOUNTS DUE FOR (A) TAXES AND ASSESSMENTS AND OTHER ITEMS WHICH CAN ATTAIN PRIORITY OVER THIS SECURITY INSTRUMENT AS A LIEN OR ENCUMBRANCE ON THE PROPERTY, (B) LEASEHOLD PAYMENTS OR GROUND RENTS ON THE PROPERTY, IF ANY, (C) PREMIUMS FOR ANY AND ALL INSURANCE REQUIRED BY LENDER UNDER SECTION 5, AND (D) MORTGAGE INSURANCE PREMIUMS, IF ANY, OR ANY SUMS PAYABLE BY BORROWER TO LENDER IN LIEU OF THE PAYMENT OF MORTGAGE INSURANCE PREMIUMS IN ACCORDANCE WITH THE PROVISIONS OF SECTION 10. THESE ITEMS ARE CALLED "ESCROW ITEMS". AT ORIGINATION OR AT ANY TIME DURING TERM OF THE LOAN, LENDER MAY REQUIRE THAT COMMUNITY ASSOCIATION DUES, FEES, AND ASSESSMENTS, IF ANY, BE ESCROWED BY BORROWER, AND SUCH DUES, FEES, AND ASSESSMENTS SHALL BE AN ESCROW ITEM. BORROWER SHALL PROMPTLY FURNISH TO LENDER ALL NOTICES OF AMOUNTS TO BE PAID UNDER THIS SECTION. BORROWER SHALL PAY LENDER THE FUNDS FOR ESCROW ITEMS UNLESS LENDER WAIVES. BORROWER'S OBLIGATION TO PAY THE FUNDS FOR ANY OR ALL ESCROW ITEMS-LENDER MAY WAIVE BORROWER'S OBLIGATION TO PAY TO LENDER FUNDS FOR ANY OR ALL ESCROW ITEMS AT ANY TIME. ANY SUCH WAIVER MAY ONLY BE IN WRITING. IN THE EVENT OF SUCH WAIVER, BORROWER SHALL PAY DIRECTLY, WHEN AND WHERE PAYABLE, THE AMOUNTS DUE FOR ANY ESCROW ITEMS FOR WHICH PAYMENT OF FUNDS HAS BEEN WAIVED BY LENDER, AND IF LENDER REQUIRES, SHALL FURNISH TO LENDER RECEIPTS EVIDENCING SUCH PAYMENT WITHIN SUCH TIME PERIOD AS LENDER MAY REQUIRE. BORROWER'S OBLIGATION TO MAKE SUCH PAYMENTS AND TO PROVIDE RECEIPTS SHALL FOR ALL PURPOSES BE DEEMED TO BE A COVENANT AND AGREEMENT CONTAINED IN THIS SECURITY INSTRUMENT, AS THE PHRASE "COVENANT AND AGREEMENT" IS USED IN SECTION 9. IF BORROWER IS OBLIGATED TO PAY ESCROW ITEMS DIRECTLY, PURSUANT TO A WAIVER, AND BORROWER FAILS TO PAY THE AMOUNT DUE FOR AN ESCROW ITEM, LENDER MAY EXERCISE ITS RIGHTS UNDER SECTION 9 AND PAY SUCH AMOUNT AND BORROWER SHALL THEN BE OBLIGATED UNDER SECTION 9 TO REPAY TO LENDER ANY SUCH AMOUNT. LENDER MAY REVOKE THE WAIVER AS TO ANY OR ALL ESCROW ITEMS AT ANY TIME BY A NOTICE GIVEN IN ACCORDANCE WITH SECTION 15 AND, UPON SUCH REVOCATION, BORROWER SHALL PAY TO LENDER ALL FUNDS, AND IN SUCH AMOUNTS THAT ARE THEN REQUIRED UNDER THIS SECTION 3. LENDER MAY, AT ANY TIME, COLLECT AND HOLD FUNDS IN AN AMOUNT (A) SUFFICIENT TO PERMIT LENDER TO APPLY THE FUNDS AT THE TIME SPECIFIED UNDER RESPA, AND (B) NOT TO EXCEED THE MAXIMUM AMOUNT A LENDER CAN REQUIRE UNDER RESPA. LENDER SHALL ESTIMATE THE AMOUNT OF FUNDS DUE ON THE BASIS OF CURRENT DATA AND REASONABLE ESTIMATES OF EXPENDITURES OF FUTURE ESCROW ITEMS OR OTHERWISE IN ACCORDANCE WITH APPLICABLE LAW. THE FUNDS SHALL BE HELD IN AN INSTITUTION WHOSE DEPOSITS ARE INSURED BY A FEDERAL AGENCY, INSTRUMENTALITY, OR ENTITY (INCLUDING LENDER, IF LENDER IS AN INSTITUTION WHOSE DEPOSITS ARE SO INSURED) OR IN ANY FEDERAL HOME LOAN BANK. LENDER SHALL APPLY THE FUNDS TO PAY THE ESCROW ITEMS NO LATER THAN THE TIME SPECIFIED UNDER RESPA. LENDER SHALL NOT CHARGE BORROWER FOR HOLDING AND APPLYING THE FUNDS, ANNUALLY ANALYZING THE ESCROW ACCOUNT, OR VERIFYING THE ESCROW ITEMS, UNLESS LENDER PAYS BORROWER INTEREST ON THE FUNDS AND APPLICABLE LAW PERMITS LENDER TO MAKE SUCH A CHARGE. UNLESS AN AGREEMENT IS MADE IN WRITING OR APPLICABLE LAW REQUIRES INTEREST TO BE PAID ON THE FUNDS, LENDER SHALL NOT BE REQUIRED TO PAY BORROWER ANY INTEREST OR EARNINGS ON THE FUNDS. BORROWER AND LENDER CAN AGREE IN WRITING, HOWEVER, THAT INTEREST SHALL BE PAID ON THE FUNDS. LENDER SHALL GIVE TO BORROWER, WITHOUT CHARGE, AN ANNUAL ACCOUNTING OF THE FUNDS AS REQUIRED BY RESPA. IF THERE IS A SURPLUS OF FUNDS HELD IN ESCROW, AS DEFINED UNDER RESPA, LENDER SHALL ACCOUNT TO BORROWER FOR THE EXCESS FUNDS IN ACCORDANCE WITH RESPA. IF THERE IS A SHORTAGE OF FUNDS HELD IN ESCROW, AS DEFINDED UNDER RESPA, LENDER SHALL NOTIFY BORROWER AS REQUIRED BY RESPA, AND BORROWER SHALL PAY TO LENDER THE AMOUNT NECESSARY TO MAKE UP THE SHORTAGE IN ACCORDANCE WITH RESPA, BUT IN NO MORE THAN 12 MONTHLY PAYMENTS. IF THERE IS A DEFICIENCY OF FUNDS HELD IN ESCROW, AS DEFINED UNDER RESPA, LENDER SHALL NOTIFY BORROWER AS REQUIRED BY RESPA, AND BORROWER SHALL PAY TO LENDER THE AMOUNT NECESARY TO MAKE UP THE DEFICIENCY IN ACCORDANCE WITH RESPA, BUT IN NO MORE THAN 12 MONTHLY PAYMENTS. UPON PAYMENT IN FULL OF ALL SUMS SECURED BY THIS SECURITY INSTRUMENT, LENDER SHALL PROMPTLY REFUND TO BORROWER ANY FUNDS HELD BY LENDER. PART X - FIN 48 FOOTNOTE |
| PART X, LINE 2: | THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF DECEMBER 31, 2022 AND 2021. THE CREDIT UNION'S 2019 THROUGH 2022 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAX AUTHORITIES. |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (8 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | THE CREDIT UNION HAS MEMBERS. MEMBERSHIP IS LIMITED TO EMPLOYEES, RETIREES, AND FAMILY MEMBERS OF CERTAIN EMPLOYERS. |
| FORM 990, PART VI, SECTION A, LINE 7A | VOTING IS BASED ON A ONE MEMBER, ONE VOTE BASIS. |
| FORM 990, PART VI, SECTION A, LINE 7B | NECESSARY ACTIONS ARE APPROVED AT THE CREDIT UNION'S ANNUAL MEETING |
| FORM 990, PART VI, SECTION B, LINE 11B | RETURN WILL BE REVIEWED BY THE CFO AS WELL AS THE ENTIRE BOARD OF DIRECTORS. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE CREDIT UNION IS REQUIRED TO ADHERE TO THE CODE OF ETHICAL BUSINESS CONDUCT POLICY DEVELOPED BY ILLINOIS AGRICULTURAL ASSOCIATION (IAA) FOR IAA AND ITS AFFILIATES. ARTICLE VI OF THIS POLICY RELATES TO CONFLICT-OF-INTEREST RULES. THE MANAGEMENT TEAM IS REQUIRED ANNUALLY TO READ THIS POLICY AND SIGN A FORM STATING, "TO THE BEST OF MY KNOWLEDGE AND BELIEF, NEITHER I NOR MY FAMILY (AS DEFINED IN THE CODE), HAS BEEN INVOLVED IN ANY ACTIVITY WHICH MIGHT VIOLATE THE REQUIREMENTS SET FORTH IN ARTICLE VI OF THE CODE". IF THE PRECEDING STATEMENT IS NOT TRUE WITHOUT EXCEPTION, THEN THE RESPONDENT MUST FILE A WRITTEN EXCEPTION WITH GENERAL COUNSEL. NO SUCH ACTIVITIES WERE REPORTED IN 2022. |
| FORM 990, PART VI, SECTION B, LINE 15 | COMPENSATION OF THE CREDIT UNION EMPLOYEES IS DETERMINED BY THE ILLINOIS AGRICULTURAL ASSOCIATION (IAA). ALL COMPENSATION ADJUSTMENTS MUST BE APPROVED BY IAA. COMPENSATION IS DETERMINED ANNUALLY BY IAA USING COMPARISON SALARY DATA FROM WITHIN THE INDUSTRY. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2022. |
| FORM 990, PART VI, SECTION C, LINE 19 | INFORMATION WOULD BE PROVIDED UPON REQUEST |
| FORM 990, PART XII, LINE 2C | THE PROCESS FOR OVERSEEING THE AUDIT AND SELECTING AN INDEPENDENT AUDITOR HAS NOT CHANGED FROM THE PRIOR YEAR. |
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