Liabilities / Assets
100th percentile
Higher debt load relative to assets than 100% of similar nonprofits.
Chicago Municipal Employee'S
EIN 36-0902923 • 501(c)14 • Chicago, IL
Profile
To give members the ability to control their financial destiny by providing members with the means to satisfy their needs for financial services in a comfortable family-like environment. In doing so, the credit union strives to maintain long-term relationships with members.
Siviq Scores
Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.
0.98x
Liabilities / Revenue
30th percentile
Higher debt load relative to revenue than 30% of similar nonprofits.
Net Margin
1st percentile
Higher net margin than 1% of similar nonprofits.
Top Officer Pay
6th percentile
Higher top officer pay than 6% of similar nonprofits.
Top officer pay equals 0.0% of source-year revenue.
Asset Growth
28th percentile
Faster asset growth than 28% of similar nonprofits.
Revenue Growth
20th percentile
Faster revenue growth than 20% of similar nonprofits.
Balance Sheet
Assets
Down$58,360,663
Down $767,684 (-1.3%) from 2023
Liabilities
Up$57,472,133
Up $1,204,670 (+2.1%) from 2023
Net Assets
Down$888,530
Down $1,972,354 (-69%) from 2023
Revenue
Up$4,068,517
Up $62,225 (+1.6%) from 2023
Expenses
Up$7,671,959
Up $3,017,362 (+65%) from 2023
Net Income
Down-$3,603,442
Down $2,955,137 (-456%) from 2023
Trend Graphs
Filings
Most recent year
2024 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $58,360,663
- Liabilities
- $57,472,133
- Net assets
- $888,530
- Revenue
- $4,068,517
- Expenses
- $7,671,959
- Net income
- -$3,603,442
Latest Filing Detail
Jump To
Filing Snapshot
- Filing Period
- Jan 1, 2024 to Dec 31, 2024
- Signed
- Feb 10, 2025
- Return Version
- 2024v5.0
- Gross Receipts
- $4,068,517
Mission and Program Overview
Mission
To give members the ability to control their financial destiny by providing members with the means to satisfy their needs for financial services in a comfortable family-like environment. In doing so, the Credit Union strives to maintain long-term relationships with members.
Illinois state chartered credit union operated for the mutual benefit of its members
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Other Notes and Loans Receivable, Net | $38,830,552 | $33,288,880 | ▼ $5,541,672 |
| Savings and Temporary Cash Investments | $1,299,495 | $18,278,001 | ▲ $16,978,506 |
| Investments in Publicly Traded Securities | $14,559,220 | - | - |
| Intangible Assets | - | $2,593,683 | - |
| Accounts Receivable | - | $1,700,110 | - |
| Land, Buildings, and Equipment, Net | $1,842,644 | $1,534,852 | ▼ $307,792 |
| Rtn Earn Endowment Incm Other Fnds | $2,860,884 | $888,530 | ▼ $1,972,354 |
| Cash and Non-Interest-Bearing Accounts | $984,108 | $885,025 | ▼ $99,083 |
| Prepaid Expenses and Deferred Charges | $911,866 | $80,112 | ▼ $831,754 |
| Total Assets | $59,128,347 | $58,360,663 | ▼ $767,684 |
| Other Assets Total | $700,462 | - | - |
| Liabilities | |||
| Other Liabilities | $55,201,148 | $56,905,846 | ▲ $1,704,698 |
| Accounts Payable and Accrued Expenses | $766,315 | $566,287 | ▼ $200,028 |
| Unsecured Notes Loans Payable | $300,000 | - | - |
| Total Liabilities | $56,267,463 | $57,472,133 | ▲ $1,204,670 |
| Net Assets / Fund Balance | |||
| Total Net Assets Fund Balance | $2,860,884 | $888,530 | ▼ $1,972,354 |
| Total Liabilities and Net Assets / Fund Balance | $59,128,347 | $58,360,663 | ▼ $767,684 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Buildings | $1,534,852 | $590,978 | $2,125,830 |
Compensation and Service Providers
Board Members and Trustees
| Name | Title |
|---|---|
| David Bryant | Chairman |
| Eugene Williams | Vice Chairma |
| David Mckinney | Director |
| Melanie Neely | Director |
| Patricia Jackowiak | Director |
| Patricia Rios | Director |
| Beverly Gulley | Secretary |
| Lance Lewis | Treasurer |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $0
- Program Service Revenue
- $3,671,531
- Investment Income
- $396,986
- Other Revenue
- $0
- Change in Net Assets
- $-3,603,442
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Other Expenses | $6,650,699 |
| Salaries, Compensation, and Employee Benefits | $1,021,260 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Other Salaries and Wages | - | - | - | $793,885 |
| Fees for Services Other | - | - | - | $691,006 |
| Other Expenses | - | - | - | $467,843 |
| Occupancy | - | - | - | $401,405 |
| Office Expenses | - | - | - | $361,259 |
| Other Employee Benefits | - | - | - | $144,033 |
| Payroll Taxes | - | - | - | $72,275 |
| Depreciation Depletion | - | - | - | $45,539 |
| Fees for Services Accounting | - | - | - | $43,500 |
| Pension Plan Contributions | - | - | - | $11,067 |
| Advertising | - | - | - | $3,435 |
| All Other Expenses | - | - | - | $2,250 |
| Total Functional Expenses | $0 | $0 | $0 | $7,671,959 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
Political and Lobbying Activity
- Political campaign activity
- No
- Subject to proxy tax
- No
Debt and Bond Financing
Other Reported Liabilities
| Liability | Amount |
|---|---|
| Share Accounts | $56,905,846 |
Governance and Compliance
Governance Checklist
- Compiled or reviewed by an accountant
- No
- Annual disclosure for covered persons
- Yes
- Backup withholding compliance
- Yes
- Business relationship with 35% controlled entity
- No
- Business relationship with family members
- No
- Business relationship with organization members
- No
- Material changes to governing documents
- No
- Compensation from other sources disclosed
- No
- CEO compensation reviewed
- Yes
- Other officer compensation reviewed
- Yes
- Conflict-of-interest policy
- Yes
- Audited financial statements prepared
- No
- Key decisions subject to board approval
- Yes
- Management duties delegated
- No
Governance Explanations
Form 990, Page 6, Part VI, Line 6
“Membership consists of individuals with funds on deposit with the credit union.”
Form 990, Page 6, Part VI, Line 7A
“Members of the credit union have the authority to elect the board of directors at the annual meeting.”
Form 990, Page 6, Part VI, Line 7B
“Members vote on various issues at the annual meeting.”
Form 990, Page 6, Part VI, Line 11B
“The form 990 was reviewed by certain board officers for completeness and accuracy prior to filing.”
Form 990, Page 6, Part VI, Line 12C
“Board members and key employees sign an annual statement certifying that they have read, understand, and agree with the conflict of interest policy in addition to completing a statement of business and financial interest questionnnaire.”
Form 990, Page 6, Part VI, Line 15A
“The salary administration plan governs positions and salaries for all staff in an effort to remain competitive with industry standards. Most of the minimum salaries were determined based on teh 75th percentile of cuna's salary survey results. Salaries for positions not surveyed by cuna were determined based on banking industry data providers such as salary wizard and salary.com”
Form 990, Page 6, Part VI, Line 15B
“The salary administration plan governs positions and salaries for all staff in an effort to remain competitive with industry standards. Most of the minimum salaries were determined based on teh 75th percentile of cuna's salary survey results. Salaries for positions not surveyed by cuna were determined based on banking industry data providers such as salary wizard and salary.com”
Form 990, Page 6, Part VI, Line 19
“Documents available upon request.”
Filing and Contact Details
Filer
- Filer Name
- CHICAGO MUNICIPAL EMPLOYEE'S
- EIN
- 36-0902923
- Phone
- 3122362326
- Address
- 18 S MICHIGAN AVE 10TH FLOOR, CHICAGO, IL 60603
Signing Officer
- Name
- Tim Lukomski
- Title
- CFO
- Phone
- 8475787734
- Signed
- 2025-02-10
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- David Bryant
- Formed
- 1926
- Legal Domicile
- Il
- Voting Board Members
- 8
- Independent Board Members
- 8
- Employees
- 15
Preparer
- Firm
- Bd CPA Group
- Address
- 5600 N RIVER RD STE 800, ROSEMONT, IL 60018
- Preparer
- Brett Davalle
- Phone
- 7737901052
Supplemental Narrative
Additional Explanations
FORM 990 - ORGANIZATION'S MISSION
“To give members the ability to control their financial destiny by providing members with the means to satisfy their needs for financial services in a comfortable family-like environment. In doing so, the credit union strives to maintain long-term relationships with members.”
Raw XML Appendix331 raw XML fields
This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.
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| IRS990/ReportInvestmentsOtherSecInd | 0 | false |
| IRS990/ReportLandBuildingEquipmentInd | 0 | true |
| IRS990/ReportOtherAssetsInd | 0 | false |
| IRS990/ReportOtherLiabilitiesInd | 0 | true |
| IRS990/ReportProgramRelatedInvstInd | 0 | false |
| IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt | 0 | 2860884 |
| IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt | 0 | 888530 |
| IRS990/SavingsAndTempCashInvstGrp/BOYAmt | 0 | 1299495 |
| IRS990/SavingsAndTempCashInvstGrp/EOYAmt | 0 | 18278001 |
| IRS990/ScheduleBRequiredInd | 0 | false |
| IRS990ScheduleD/BuildingsGrp/BookValueAmt | 0 | 1534852 |
| IRS990ScheduleD/BuildingsGrp/DepreciationAmt | 0 | 590978 |
| IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt | 0 | 2125830 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 0 | 56905846 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 0 | SHARE ACCOUNTS |
| IRS990ScheduleD/TotalBookValueLandBuildingsAmt | 0 | 1534852 |
| IRS990ScheduleD/TotalLiabilityAmt | 0 | 56905846 |
| IRS990/ScheduleJRequiredInd | 0 | false |
| IRS990/ScheduleORequiredInd | 0 | true |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | TO GIVE MEMBERS THE ABILITY TO CONTROL THEIR FINANCIAL DESTINY BY PROVIDING MEMBERS WITH THE MEANS TO SATISFY THEIR NEEDS FOR FINANCIAL SERVICES IN A COMFORTABLE FAMILY-LIKE ENVIRONMENT. IN DOING SO, THE CREDIT UNION STRIVES TO MAINTAIN LONG-TERM RELATIONSHIPS WITH MEMBERS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | MEMBERSHIP CONSISTS OF INDIVIDUALS WITH FUNDS ON DEPOSIT WITH THE CREDIT UNION. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | MEMBERS OF THE CREDIT UNION HAVE THE AUTHORITY TO ELECT THE BOARD OF DIRECTORS AT THE ANNUAL MEETING. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | MEMBERS VOTE ON VARIOUS ISSUES AT THE ANNUAL MEETING. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | THE FORM 990 WAS REVIEWED BY CERTAIN BOARD OFFICERS FOR COMPLETENESS AND ACCURACY PRIOR TO FILING. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 5 | BOARD MEMBERS AND KEY EMPLOYEES SIGN AN ANNUAL STATEMENT CERTIFYING THAT THEY HAVE READ, UNDERSTAND, AND AGREE WITH THE CONFLICT OF INTEREST POLICY IN ADDITION TO COMPLETING A STATEMENT OF BUSINESS AND FINANCIAL INTEREST QUESTIONNNAIRE. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 6 | THE SALARY ADMINISTRATION PLAN GOVERNS POSITIONS AND SALARIES FOR ALL STAFF IN AN EFFORT TO REMAIN COMPETITIVE WITH INDUSTRY STANDARDS. MOST OF THE MINIMUM SALARIES WERE DETERMINED BASED ON TEH 75TH PERCENTILE OF CUNA'S SALARY SURVEY RESULTS. SALARIES FOR POSITIONS NOT SURVEYED BY CUNA WERE DETERMINED BASED ON BANKING INDUSTRY DATA PROVIDERS SUCH AS SALARY WIZARD AND SALARY.COM |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 7 | THE SALARY ADMINISTRATION PLAN GOVERNS POSITIONS AND SALARIES FOR ALL STAFF IN AN EFFORT TO REMAIN COMPETITIVE WITH INDUSTRY STANDARDS. MOST OF THE MINIMUM SALARIES WERE DETERMINED BASED ON TEH 75TH PERCENTILE OF CUNA'S SALARY SURVEY RESULTS. SALARIES FOR POSITIONS NOT SURVEYED BY CUNA WERE DETERMINED BASED ON BANKING INDUSTRY DATA PROVIDERS SUCH AS SALARY WIZARD AND SALARY.COM |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 8 | DOCUMENTS AVAILABLE UPON REQUEST. |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | FORM 990 - ORGANIZATION'S MISSION |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | FORM 990, PAGE 6, PART VI, LINE 6 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | FORM 990, PAGE 6, PART VI, LINE 7A |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | FORM 990, PAGE 6, PART VI, LINE 7B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | FORM 990, PAGE 6, PART VI, LINE 11B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 5 | FORM 990, PAGE 6, PART VI, LINE 12C |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 6 | FORM 990, PAGE 6, PART VI, LINE 15A |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 7 | FORM 990, PAGE 6, PART VI, LINE 15B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 8 | FORM 990, PAGE 6, PART VI, LINE 19 |
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| IRS990/SignificantChangeInd | 0 | false |
| IRS990/SignificantNewProgramSrvcInd | 0 | false |
| IRS990/SubjectToExcsTaxNetInvstIncInd | 0 | false |
| IRS990/SubjectToProxyTaxInd | 0 | false |
| IRS990/SubjToTaxRmnrtnExPrchtPymtInd | 0 | false |
| IRS990/TaxablePartyNotificationInd | 0 | false |
| IRS990/TaxExemptBondsInd | 0 | false |
| IRS990/TerminateOperationsInd | 0 | false |
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| IRS990/TotalAssetsEOYAmt | 0 | 58360663 |
| IRS990/TotalAssetsGrp/BOYAmt | 0 | 59128347 |
| IRS990/TotalAssetsGrp/EOYAmt | 0 | 58360663 |
| IRS990/TotalCompGreaterThan150KInd | 0 | false |
| IRS990/TotalEmployeeCnt | 0 | 15 |
| IRS990/TotalFunctionalExpensesGrp/FundraisingAmt | 0 | 0 |
| IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt | 0 | 0 |
| IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt | 0 | 0 |
| IRS990/TotalFunctionalExpensesGrp/TotalAmt | 0 | 7671959 |
| IRS990/TotalGrossUBIAmt | 0 | 0 |
| IRS990/TotalLiabilitiesBOYAmt | 0 | 56267463 |
| IRS990/TotalLiabilitiesEOYAmt | 0 | 57472133 |
| IRS990/TotalLiabilitiesGrp/BOYAmt | 0 | 56267463 |
| IRS990/TotalLiabilitiesGrp/EOYAmt | 0 | 57472133 |
| IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt | 0 | 2860884 |
| IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt | 0 | 888530 |
| IRS990/TotalProgramServiceRevenueAmt | 0 | 3671531 |
| IRS990/TotalRevenueGrp/ExclusionAmt | 0 | 396986 |
| IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 3671531 |
| IRS990/TotalRevenueGrp/TotalRevenueColumnAmt | 0 | 4068517 |
| IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt | 0 | 59128347 |
| IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt | 0 | 58360663 |
| IRS990/TypeOfOrganizationOtherInd | 0 | X |
| IRS990/UnrelatedBusIncmOverLimitInd | 0 | false |
| IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt | 0 | 300000 |
| IRS990/UponRequestInd | 0 | X |
| IRS990/USAddress/AddressLine1Txt | 0 | 18 S MICHIGAN AVE 10TH FLOOR |
| IRS990/USAddress/CityNm | 0 | CHICAGO |
| IRS990/USAddress/StateAbbreviationCd | 0 | IL |
| IRS990/USAddress/ZIPCd | 0 | 60603 |
| IRS990/VotingMembersGoverningBodyCnt | 0 | 8 |
| IRS990/VotingMembersIndependentCnt | 0 | 8 |
| IRS990/WebsiteAddressTxt | 0 | WWW.CMECUONLINE.ORG |
| IRS990/WhistleblowerPolicyInd | 0 | true |
| ReturnHeader/BuildTS | 0 | 2025-03-06 01:10:19Z |
| ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd | 0 | true |
| ReturnHeader/BusinessOfficerGrp/PersonNm | 0 | TIM LUKOMSKI |
| ReturnHeader/BusinessOfficerGrp/PersonTitleTxt | 0 | CFO |
| ReturnHeader/BusinessOfficerGrp/PhoneNum | 0 | 8475787734 |
| ReturnHeader/BusinessOfficerGrp/SignatureDt | 0 | 2025-02-10 |
| ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt | 0 | CHICAGO MUNICIPAL EMPLOYEE'S |
| ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt | 0 | CREDIT UNION |
| ReturnHeader/Filer/BusinessNameControlTxt | 0 | CHIC |
| ReturnHeader/Filer/EIN | 0 | 360902923 |
| ReturnHeader/Filer/PhoneNum | 0 | 3122362326 |
| ReturnHeader/Filer/USAddress/AddressLine1Txt | 0 | 18 S MICHIGAN AVE 10TH FLOOR |
| ReturnHeader/Filer/USAddress/CityNm | 0 | CHICAGO |
| ReturnHeader/Filer/USAddress/StateAbbreviationCd | 0 | IL |
| ReturnHeader/Filer/USAddress/ZIPCd | 0 | 60603 |
| ReturnHeader/IRSResponsiblePrtyInfoCurrInd | 0 | true |
| ReturnHeader/PreparerFirmGrp/PreparerFirmEIN | 0 | 852834343 |
| ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt | 0 | BD CPA GROUP |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt | 0 | 5600 N RIVER RD STE 800 |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm | 0 | ROSEMONT |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd | 0 | IL |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd | 0 | 60018 |
| ReturnHeader/PreparerPersonGrp/PhoneNum | 0 | 7737901052 |
| ReturnHeader/PreparerPersonGrp/PreparationDt | 0 | 2025-02-11 |
| ReturnHeader/PreparerPersonGrp/PreparerPersonNm | 0 | BRETT DAVALLE |
| ReturnHeader/ReturnTs | 0 | 2025-02-11T10:20:38-05:00 |
| ReturnHeader/ReturnTypeCd | 0 | 990 |
| ReturnHeader/TaxPeriodBeginDt | 0 | 2024-01-01 |
| ReturnHeader/TaxPeriodEndDt | 0 | 2024-12-31 |
| ReturnHeader/TaxYr | 0 | 2024 |
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