State Central Credit Union: Form 990, tax year 2009
View the entire original 990 at ProPublica ↗
- Organization
- State Central Credit Union (EIN 39-6043434)
- Tax period
- 2009-10-01 to 2010-06-30
- Filed
- 2011-05-12
- IRS object ID
- 201101329349301700
- Schema version
- 2009v1.7
- 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 | 2011-05-12T09:01:53-05:00 | Timestamp |
| Tax Period End Date | 2010-06-30 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RSM McGladrey Inc | 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 | 2009-10-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 396043434 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | State Central Credit Union | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | STAT | NameControl |
| Phone | 4147781000 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 10015 W Greenfield Avenue | AddressLine1 |
| City | Milwaukee | City |
| State | WI | State |
| ZIP Code | 53214 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | keith peterson | Name |
| Title | cfo | Title |
| Phone | 4147781000 | Phone |
| Date Signed | 2011-05-11 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | Collin F Buzzell | Name |
| Phone | 6125738750 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2009 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Terminated Return | X | TerminatedReturn |
| Name Of Principal Officer Person | JAMES CORAGGIO | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 10015 W Greenfield Avenue | AddressLine1 |
| City | Milwaukee | City |
| State | WI | State |
| ZIP Code | 53214 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 3453997 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c | X | Organization501c |
| Web Site | www.statecentral.com | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1947 | YearFormation |
| State Legal Domicile | WI | StateLegalDomicile |
| Activity Or Mission Description | A MEMBER OWNED, NOT-FOR-PROFIT, COOPERATIVE FINANCIAL INSTITUTION | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 5 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 0 | NbrIndependentVotingMembers |
| Total Nbr Employees | 59 | TotalNbrEmployees |
| Total Nbr Volunteers | 0 | TotalNbrVolunteers |
| Total Gross UBI | 9970 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | -641 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Current Year | 0 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 2462647 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 3307733 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 328797 | InvestmentIncomePriorYear |
| Investment Income Current Year | -169019 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 3277041 | OtherRevenuePriorYear |
| Other Revenue Current Year | 0 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 6068485 | TotalRevenuePriorYear |
| Total Revenue Current Year | 3138714 | TotalRevenueCurrentYear |
| Grants And Similar Amnts CY | 0 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members CY | 5510964 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 2512009 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 3845750 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 0 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 2871773 | OtherExpensePriorYear |
| Other Expenses Current Year | 2784878 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 5383782 | TotalExpensesPriorYear |
| Total Expenses Current Year | 12141592 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 684703 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | -9002878 | RevenuesLessExpensesCY |
| Total Assets BOY | 72180674 | TotalAssetsBOY |
| Total Assets EOY | 0 | TotalAssetsEOY |
| Total Liabilities BOY | 58524543 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 0 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 13656131 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 0 | NetAssetsOrFundBalancesEOY |
| Mission Description | THE CREDIT UNION STRIVES TO IMPROVE THE FINANCIAL POSITION OF IT'S MEMBERS BY PROVIDING HIGH QUALITY FINANCIAL SERVICES AT REASONABLE PRICES. | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Description | PROVIDED FINANCIAL SERVICES TO 7,314 MEMBERS. | Description |
| Described In501 C3 | 0 | DescribedIn501C3 |
| Schedule B Required | 0 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 0 | CreditCounseling |
| Term Or Permanent Endowments | 0 | TermOrPermanentEndowments |
| Balance Sheet Amounts Reported | 0 | BalanceSheetAmountsReported |
| 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 | 1 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 0 | DisregardedEntity |
| Related Entity | 0 | RelatedEntity |
| Related Org Controlled Entity | 0 | RelatedOrgControlledEntity |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 6218 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | 1 | ComplianceWithBackupWitholding |
| Number Of Employees | 59 | NumberOfEmployees |
| Employment Tax Returns Filed | 1 | EmploymentTaxReturnsFiled |
| Unrelated Business Income | 1 | UnrelatedBusinessIncome |
| Form990-T Filed | 1 | Form990-TFiled |
| Foreign Financial Account | 0 | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Nbr Voting Governing Body Members | 5 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 0 | 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 | 0 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 1 | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | 1 | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | 1 | RegularMonitoringEnforcement |
| Whistleblower Policy | 0 | WhistleblowerPolicy |
| Document Retention Policy | 1 | DocumentRetentionPolicy |
| Compensation Process CEO | 0 | CompensationProcessCEO |
| Compensation Process Other | 0 | 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 | keith peterson | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 6082435000 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 8046 | AddressLine1 |
| City | MADISON | City |
| State | WI | State |
| ZIP Code | 537088046 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (9 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 |
|---|---|---|---|---|---|---|---|
| Richard Ludwig | |||||||
| Chairman | 2.00 | X | X | 20000 | 0 | 0 | |
| Gregory Naples | |||||||
| Vice Chairman | 2.00 | X | X | 20000 | 0 | 0 | |
| John Haun | |||||||
| Secretary | 2.00 | X | X | 20000 | 0 | 0 | |
| Thomas Asmussen | |||||||
| Treasurer | 2.00 | X | X | 20000 | 0 | 0 | |
| James Coraggio | |||||||
| President | 40.00 | X | X | 612877 | 0 | 15437 | |
| Dana Peters | |||||||
| director/Executive VP | 40.00 | X | 269617 | 0 | 11024 | ||
| David Bieneman | |||||||
| cfo | 40.00 | X | 221096 | 0 | 21464 | ||
| Terrance McQuade | |||||||
| Director of Mortgage Lending | 40.00 | 185115 | 0 | 18128 | X | ||
| ROBERT HAAGENSEN | |||||||
| DIRECTOR OF CONSUMER LENDING | 40.00 | 189110 | 0 | 16654 | X | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 1557815 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 82707 | TotalOtherCompensation |
| Number Individuals GT100 K | 5 | NumberIndividualsGT100K |
| Formers Listed | 0 | FormersListed |
| Total Comp GT150 K | 1 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
| Number Of Contractors GT100 K | 0 | NumberOfContractorsGT100K |
Program Service Revenue ProgramServiceRevenue (5 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome | Unrelated Business RevenueUnrelatedBusinessRevenue |
|---|---|---|---|---|
| interest on loans | 522100 | 1471037 | 1471037 | |
| loan fees | 522100 | 830892 | 830892 | |
| other fee income | 522100 | 818267 | 808297 | 9970 |
| interchange income | 522100 | 173356 | 173356 | |
| insurance sales income | 522100 | 14181 | 14181 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 3307733 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 146264 | TotalRevenueColumn |
| Exclusion | $146,264 | ExclusionAmount |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | 315283 | Other |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | -315283 | Other |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -315283 | TotalRevenueColumn |
| Exclusion | -$315,283 | ExclusionAmount |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 3138714 | TotalRevenueColumn |
| Related Or Exempt Function Income | 3297763 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 9970 | UnrelatedBusinessRevenue |
| Exclusion | -$169,019 | ExclusionAmount |
Benefits To Members BenefitsToMembers
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 5510964 | Total |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1231515 | Total |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2049506 | Total |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 344372 | Total |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 220357 | Total |
Fees For Services Management FeesForServicesManagement
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 31124 | Total |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 26027 | Total |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 68189 | Total |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 151257 | Total |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1090867 | Total |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 247897 | Total |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 52046 | Total |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 192829 | Total |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 61672 | Total |
Other Expenses OtherExpenses (5 entries)
| DescriptionDescription | TotalTotal |
|---|---|
| PROVISION FOR LOAN LOSS | 368647 |
| OTHER OPERATING EXPENSE | 348191 |
| ncusif stabilization | 73229 |
| LOAN SERVICING | 71832 |
| income tax expense | 1071 |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 12141592 | Total |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 10083715 | BOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 42268353 | BOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 139937 | BOY |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1442664 | BOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 16141202 | BOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2104803 | BOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 72180674 | BOY |
| EOY | 0 | EOY |
Tax Exempt Bond Liabilities TaxExemptBondLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 395803 | BOY |
Escrow Account Liability EscrowAccountLiability
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3880526 | BOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 54248214 | BOY |
| EOY | 0 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 58524543 | BOY |
| EOY | 0 | 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 | 13656131 | BOY |
| EOY | 0 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 13656131 | BOY |
| EOY | 0 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 72180674 | BOY |
| EOY | 0 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 0 | FSAudited |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequired |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | 0 | AgentTrusteeEtc |
| Included On FS | 0 | IncludedOnFS |
| Total Of Book Value Land Buildings | 0 | TotalOfBookValueLandBuildings |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | X | CompensationCommittee |
| Written Employment Contract | X | WrittenEmploymentContract |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | 1 | SeverancePayment |
| Supplemental Nonqual Retire Plan | 0 | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | 0 | EquityBasedCompArrangement |
Form990 Schedule J Part II Form990ScheduleJPartII (5 entries)
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| James Coraggio | |||||||||||||
| 105127 | 0 | 141590 | 0 | 366160 | 0 | 6659 | 0 | 8778 | 0 | 628314 | 0 | 0 | 0 |
| Dana Peters | |||||||||||||
| 71729 | 0 | 22888 | 0 | 175000 | 0 | 3867 | 0 | 7157 | 0 | 280641 | 0 | 0 | 0 |
| David Bieneman | |||||||||||||
| 53794 | 0 | 18052 | 0 | 149250 | 0 | 3490 | 0 | 17974 | 0 | 242560 | 0 | 0 | 0 |
| Terrance McQuade | |||||||||||||
| 32600 | 0 | 39134 | 0 | 113381 | 0 | 4640 | 0 | 13488 | 0 | 203243 | 0 | 0 | 0 |
| ROBERT HAAGENSEN | |||||||||||||
| 48495 | 0 | 20740 | 0 | 119875 | 0 | 3119 | 0 | 13535 | 0 | 205764 | 0 | 0 | 0 |
Form990 Schedule J Part III Form990ScheduleJPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Reference | Part I, Line 4a | ReturnReference |
| Explanation | THE FOLLOWING RECEIVED A SEVERANCE PAYMENT: JAMES CORRAGIO, CEO - $400,660 DAVID BIENEMAN, CFO - $164,250 DANA PETERS, EVP - $194,500 TERRENCE MCQUADE, DIRECTOR OF MTG LENDING - $130,350 ROBERT HAAGENSEN, DIRECTOR OF CONSUMER LENDING - $137,875 | Explanation |
Schedule N IRS990ScheduleN
Liquidation Table LiquidationTable
Liquidation Detail LiquidationDetail (9 entries)
| Description Of AssetDescriptionOfAsset | Date Of DistributionDateOfDistribution | FMV Of AssetFMVOfAsset | Method Of FMV DeterminationMethodOfFMVDetermination | EINEIN | Address Line1AddressUS/AddressLine1 | CityAddressUS/City | StateAddressUS/State | ZIP CodeAddressUS/ZIPCode | IRC SectionIRCSection |
|---|---|---|---|---|---|---|---|---|---|
| SUMMIT CREDIT UNION | |||||||||
| LOANS (NET) | 2010-06-30 | 36438761 | POOLING ACCOUNTING | 390230585 | PO BOX 8046 | MADISON | WI | 537088046 | 501(C)(14) |
| SUMMIT CREDIT UNION | |||||||||
| ACCOUNTS RECEIVABLE | 2010-06-30 | 1742517 | POOLING ACCOUNTING | 390230585 | PO BOX 8046 | MADISON | WI | 537088046 | 501(C)(14) |
| SUMMIT CREDIT UNION | |||||||||
| CASH/CASH EQUIVALENTS | 2010-06-30 | 819958 | POOLING ACCOUNTING | 390230585 | PO BOX 8046 | MADISON | WI | 537088046 | 501(C)(14) |
| SUMMIT CREDIT UNION | |||||||||
| INVESTMENTS | 2010-06-30 | 28996590 | POOLING ACCOUNTING | 390230585 | PO BOX 8046 | MADISON | WI | 537088046 | 501(C)(14) |
| SUMMIT CREDIT UNION | |||||||||
| LAND/OFFICE BUILDINGS/IMPROVEMENTS | 2010-06-30 | 700000 | POOLING ACCOUNTING | 390230585 | PO BOX 8046 | MADISON | WI | 537088046 | 501(C)(14) |
| SUMMIT CREDIT UNION | |||||||||
| FURNITURE & FIXTURES/COMPUTER EQUIPMENT | 2010-06-30 | 40870 | POOLING ACCOUNTING | 390230585 | PO BOX 8046 | MADISON | WI | 537088046 | 501(C)(14) |
| SUMMIT CREDIT UNION | |||||||||
| ACCRUED INCOME | 2010-06-30 | 145426 | POOLING ACCOUNTING | 390230585 | PO BOX 8046 | MADISON | WI | 537088046 | 501(C)(14) |
| SUMMIT CREDIT UNION | |||||||||
| PREPAID EXPENSES | 2010-06-30 | 28814 | POOLING ACCOUNTING | 390230585 | PO BOX 8046 | MADISON | WI | 537088046 | 501(C)(14) |
| SUMMIT CREDIT UNION | |||||||||
| ANNUITY 457 PLAN | 2010-06-30 | 87310 | POOLING ACCOUNTING | 390230585 | PO BOX 8046 | MADISON | WI | 537088046 | 501(C)(14) |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Director Of Successor | 0 | DirectorOfSuccessor |
| Employee Of Successor | 1 | EmployeeOfSuccessor |
| Owner Of Successor | 0 | OwnerOfSuccessor |
| Receive Compensation | 1 | ReceiveCompensation |
| Assets Distributed | 1 | AssetsDistributed |
| Determination Letter | 0 | DeterminationLetter |
| Required To Notify AG | 1 | RequiredToNotifyAG |
| AG Notified | 1 | AGNotified |
| Liabilities Paid | 1 | LiabilitiesPaid |
| Bonds Outstanding | 0 | BondsOutstanding |
| Bond Liabilities Discharged | 0 | BondLiabilitiesDischarged |
Form990 Schedule N Part III Form990ScheduleNPartIII (2 entries)
| ExplanationExplanation |
|---|
| Part I, Line 2e: DANA PETERS |
| Part I, Line 2e: DANA PETERS REMAINED EMPLOYED BY SUMMIT CREDIT UNION UNTIL SEPTEMBER 2010. HER ROLE DURING THIS TIME WAS TO LEAD STATE CENTRAL EMPLOYEES THROUGH THEIR MERGER ACTIVITIES. SHE RECEIVED HER STANDARD COMPENSATION UNTIL HER DEPARTURE IN SEPTEMBER. |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (7 entries)
| IdentifierIdentifier | ExplanationExplanation |
|---|---|
| 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 cash dividends. |
| 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 | FORM 990 IS REVIEWED BY THE VP-RISK MANAGEMENT AND CFO PRIOR TO FILING WITH THE IRS. IF THERE IS UNCERTAINTY REGARDING A RESPONSE THEY WILL CONSULT THE APPROPRIATE SUBJECT MATTER EXPERT. |
| Form 990, Part VI, Section B, line 12c | THE BOARD OF DIRECTORS SET THE CONFLICT OF INTEREST POLICY. MANAGEMENT ENFORCES AND MONITORS COMPLIANCE WIHT POLICY AND REPORTS ANY VARIANCES TO THE BOARD ON A MONTHLY BASIS. |
| THE CHAIRMAN OF THE BOARD AND THE PRESIDENT MEET TO DETERMINE COMPENSATION FOR KEY EMPLOYEES. | |
| Form 990, Part VI, Section C, line 19 | FINANCIAL STATEMENTS ARE PROVIDED TO EACH MEMBER WHO ATTENDS THE ANNUAL MEETING. THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE TO MEMBERS UPON REQUEST. |
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