Liabilities / Assets
46th percentile
Higher debt load relative to assets than 46% of similar nonprofits.
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.86x
Liabilities / Revenue
91st percentile
Higher debt load relative to revenue than 91% of similar nonprofits.
Net Margin
4th percentile
Higher net margin than 4% of similar nonprofits.
Top Officer Pay
70th percentile
Higher top officer pay than 70% of similar nonprofits.
Top officer pay equals 28.8% of source-year revenue.
Asset Growth
10th percentile
Faster asset growth than 10% of similar nonprofits.
Revenue Growth
54th percentile
Faster revenue growth than 54% of similar nonprofits.
Balance Sheet
Assets
Down$11,979,480
Down $452,432 (-3.6%) from 2015
Net Assets
Down$1,669,499
Down $62,522 (-3.6%) from 2015
Liabilities
Down$10,309,981
Down $389,910 (-3.6%) from 2015
Revenue And Expenses
Revenue
Up$299,672
Up $8,996 (+3.1%) from 2015
Expenses
Up$362,194
Up $13 (+0.0%) from 2015
Net Income
Up-$62,522
Up $8,983 (+13%) from 2015
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jan 1, 2016 to Dec 31, 2016
- Signed
- Feb 17, 2017
- Return Version
- 2016v3.0
- Gross Receipts
- $299,672
Mission and Program Overview
Mission
Illinois state chartered credit union operated for the mutual benefit of its members. The Credit Union makes loans to members and pays dividends to members with share deposits at a competetive rate of interest.
Illinois state chartered credit union operated for the mutual benefit of its members.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Investments in Publicly Traded Securities | $10,144,000 | $9,998,000 | ▼ $146,000 |
| Rtn Earn Endowment Incm Other Fnds | $1,732,021 | $1,669,499 | ▼ $62,522 |
| Other Notes and Loans Receivable, Net | $1,545,609 | $1,491,370 | ▼ $54,239 |
| Cash and Non-Interest-Bearing Accounts | $489,999 | $316,207 | ▼ $173,792 |
| Savings and Temporary Cash Investments | $103,652 | $28,796 | ▼ $74,856 |
| Prepaid Expenses and Deferred Charges | $15,277 | $11,770 | ▼ $3,507 |
| Investments Other Securities | $2,000 | $2,000 | → $0 |
| Land, Buildings, and Equipment, Net | $0 | $1,552 | ▲ $1,552 |
| Pd in Cap Srpls Land Bldg Eqp Fund | $0 | $0 | → $0 |
| Cap Stk Tr Prin Current Funds | $0 | $0 | → $0 |
| Total Assets | $12,431,912 | $11,979,480 | ▼ $452,432 |
| Other Assets Total | $131,375 | $129,785 | ▼ $1,590 |
| Liabilities | |||
| Other Liabilities | $10,688,541 | $10,299,920 | ▼ $388,621 |
| Accounts Payable and Accrued Expenses | $11,350 | $10,061 | ▼ $1,289 |
| Total Liabilities | $10,699,891 | $10,309,981 | ▼ $389,910 |
| Net Assets / Fund Balance | |||
| Total Net Assets Fund Balance | $1,732,021 | $1,669,499 | ▼ $62,522 |
| Total Liabilities and Net Assets / Fund Balance | $12,431,912 | $11,979,480 | ▼ $452,432 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Equipment | $1,552 | $10,920 | $12,472 |
Compensation and Service Providers
Employees
| Name | Title | Full / Part Time | Base | Other | Total |
|---|---|---|---|---|---|
| Dave Cogozzo | President/Treasurer | FT | $68,000 | $18,421 | $86,421 |
| Tim White | Director | PT | $12,000 | - | $12,000 |
Board Members and Trustees
| Name | Title |
|---|---|
| Michael Cogozzo | Chairman |
| Adrienne Dempsey | Director |
| Diane Kerrill | Director |
| Gregory Mack | Director |
| James Colello | Director |
| Joan Jeske | Director |
| John Zasadny | Director |
| Maria Bertucci-Runge | Director |
| Micheal Thomka | Director |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $0
- Program Service Revenue
- $160,109
- Investment Income
- $139,563
- Other Revenue
- $0
- Change in Net Assets
- $-62,522
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Salaries, Compensation, and Employee Benefits | $188,636 |
| Other Expenses | $173,558 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Current Officers, Directors, Trustees, and Key Employees | - | - | - | $98,421 |
| Other Salaries and Wages | - | - | - | $76,249 |
| Occupancy | - | - | - | $38,888 |
| Office Expenses | - | - | - | $34,991 |
| Insurance | - | - | - | $11,716 |
| Payroll Taxes | - | - | - | $11,272 |
| Fees for Services Accounting | - | - | - | $7,500 |
| Other Expenses | - | - | - | $7,210 |
| Information Technology | - | - | - | $6,226 |
| Conferences and Meetings | - | - | - | $5,661 |
| All Other Expenses | - | - | - | $4,936 |
| Pension Plan Contributions | - | - | - | $2,252 |
| Depreciation Depletion | - | - | - | $1,538 |
| Advertising | - | - | - | $1,102 |
| Other Employee Benefits | - | - | - | $442 |
| Fees for Services Other | - | - | - | $200 |
| Total Functional Expenses | $0 | $0 | $0 | $362,194 |
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 |
|---|---|
| Prime Shares | $9,350,784 |
| Share Drafts | $505,713 |
| Christmas Club | $385,758 |
| Subsdiary Shares | $57,665 |
Governance and Compliance
Governance Checklist
- Compiled or reviewed by an accountant
- No
- Backup withholding compliance
- Yes
- 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
- No
- Other officer compensation reviewed
- No
- Conflict-of-interest policy
- No
- Audited financial statements prepared
- No
- Key decisions subject to board approval
- No
- Management duties delegated
- No
Governance Explanations
Form 990, Part VI, Section A, line 2
“Chairman of the Board and the President are father and son.”
Form 990, Part VI, Section A, line 6
“Membership consists of individuals with funds on deposit with the Credit Union.”
Form 990, Part VI, Section A, line 7A
“Members participate in the annual election of the Board of Directors.”
Form 990, Part VI, Section A, line 8B
“The supervisory committee reports to the Board of Directors at the monthly board meetings and any actions or discussions are recorded as part of the board meeting minutes.”
Form 990, Part VI, Section B, line 11B
“The President reviews the 990 prior to filing and it is available for other Board Members upon request.”
Form 990, Part VI, Section C, line 19
“Governing documents and financial statement are available upon request.”
Filing and Contact Details
Filer
- Filer Name
- SourceOne Credit Union
- EIN
- 36-1661895
- Phone
- 3129220495
- Address
- 542 S Dearborn No 410, Chicago, IL 60605
Signing Officer
- Name
- Dave Cogozzo
- Title
- President
- Phone
- 3129220495
- Signed
- 2017-02-17
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- Dave Cogozzo
- Formed
- 1935
- Legal Domicile
- Il
- Voting Board Members
- 11
- Independent Board Members
- 10
- Employees
- 4
- Volunteers
- 10
Preparer
- Firm
- Desmond & Ahern Ltd
- Address
- 10827 S western Avenue, Chicago, IL 60643
- Preparer
- Dave Rambo
- Phone
- 7737794720
Supplemental Narrative
Additional Explanations
Form 990, Part IV, Page 3, #12
“The statement of financial condition of SourceOne Credit Union as of March 31, 2016 and the related statements of income, members' equity and cash flows for the year then ended were audited in accordance with auditing standards generally accepted in the United States of America. The FIN 48 Statement included in the March 31, 2016 is as follows. SourceOne Credit Union was granted an exemption from federal income taxes by the Internal Revenue Service pursuant to the provisions of Internal Revenue Code Section 501(c)(14). The tax exempt purpose of the Credit Union and the nature in which it operates is described above. Management believes the Credit Union continues to operate in compliance with its tax exempt purpose. The Credit Union had no unrelated business income for the year ending March 31, 2016 and 2015 that management believes is subject to taxation. The Credit Union's 2012 through 2015 annual information returns filed with the Internal Revenue Service are open to examination.”
Raw XML Appendix370 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/AccountsPayableAccrExpnssGrp/EOYAmt | 0 | 10061 |
| IRS990/ActivitiesConductedPrtshpInd | 0 | 0 |
| IRS990/ActivityOrMissionDesc | 0 | Illinois state chartered credit union operated for the mutual benefit of its members. |
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| IRS990/AllOtherExpensesGrp/TotalAmt | 0 | 4936 |
| IRS990/BackupWthldComplianceInd | 0 | 1 |
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| IRS990/BooksInCareOfDetail/PhoneNum | 0 | 3129220495 |
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| IRS990/CapStkTrPrinCurrentFundsGrp/EOYAmt | 0 | 0 |
| IRS990/CashNonInterestBearingGrp/BOYAmt | 0 | 489999 |
| IRS990/CashNonInterestBearingGrp/EOYAmt | 0 | 316207 |
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| IRS990/DelegationOfMgmtDutiesInd | 0 | 0 |
| IRS990/DepreciationDepletionGrp/TotalAmt | 0 | 1538 |
| IRS990/Desc | 0 | Credit Union makes and services consumer and real estate loans to members. The number of loans outstanding at 12/31/16 was 359 for a total of $1,532,965. |
| IRS990/DescribedInSection501c3Ind | 0 | 0 |
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| IRS990/EmployeeCnt | 0 | 4 |
| IRS990/EmploymentTaxReturnsFiledInd | 0 | 1 |
| IRS990/FamilyOrBusinessRlnInd | 0 | 1 |
| IRS990/FederalGrantAuditRequiredInd | 0 | 0 |
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| IRS990/FeesForServicesOtherGrp/TotalAmt | 0 | 200 |
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| IRS990/ForeignFinancialAccountInd | 0 | 0 |
| IRS990/ForeignOfficeInd | 0 | 0 |
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| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 2 | 1.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 3 | 1.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 4 | 1.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 5 | 1.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 6 | 1.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 7 | 1.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 8 | 1.00 |
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| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 10 | 40.00 |
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| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 4 | X |
| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 5 | X |
| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 6 | X |
| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 7 | X |
| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 8 | X |
| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 9 | X |
| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 10 | X |
| IRS990/Form990PartVIISectionAGrp/OfficerInd | 0 | X |
| IRS990/Form990PartVIISectionAGrp/OfficerInd | 1 | X |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 0 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 1 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 2 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 3 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 4 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 5 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 6 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 7 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 8 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 9 | 0 |
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| IRS990/Form990PartVIISectionAGrp/PersonNm | 0 | Michael Cogozzo |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 1 | Maria Bertucci-Runge |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 2 | James Colello |
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| IRS990/Form990PartVIISectionAGrp/PersonNm | 4 | Joan Jeske |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 5 | Diane Kerrill |
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| IRS990/Form990PartVIISectionAGrp/PersonNm | 7 | Micheal Thomka |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 8 | John Zasadny |
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| IRS990/Form990PartVIISectionAGrp/PersonNm | 10 | Dave Cogozzo |
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| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 1 | 0 |
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| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 8 | 0 |
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| IRS990/Form990PartVIISectionAGrp/TitleTxt | 2 | Director |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 3 | Director |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 4 | Director |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 5 | Director |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 6 | Director |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 7 | Director |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 8 | Director |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 9 | Director |
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| IRS990/Form990ProvidedToGvrnBodyInd | 0 | 0 |
| IRS990/FormationYr | 0 | 1935 |
| IRS990/FormerOfcrEmployeesListedInd | 0 | 0 |
| IRS990/FSAuditedInd | 0 | 0 |
| IRS990/FundraisingActivitiesInd | 0 | 0 |
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| IRS990/GoverningBodyVotingMembersCnt | 0 | 11 |
| IRS990/GrantsToIndividualsInd | 0 | 0 |
| IRS990/GrantsToOrganizationsInd | 0 | 0 |
| IRS990/GrantToRelatedPersonInd | 0 | 0 |
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| IRS990/GroupReturnForAffiliatesInd | 0 | 0 |
| IRS990/IncludeFIN48FootnoteInd | 0 | 0 |
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| IRS990/IndependentVotingMemberCnt | 0 | 10 |
| IRS990/IndivRcvdGreaterThan100KCnt | 0 | 0 |
| IRS990/IndoorTanningServicesInd | 0 | 0 |
| IRS990/InfoInScheduleOPartVIInd | 0 | X |
| IRS990/InformationTechnologyGrp/TotalAmt | 0 | 6226 |
| IRS990/InsuranceGrp/TotalAmt | 0 | 11716 |
| IRS990/InvestmentIncomeGrp/ExclusionAmt | 0 | 139563 |
| IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt | 0 | 139563 |
| IRS990/InvestmentInJointVentureInd | 0 | 0 |
| IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt | 0 | 2000 |
| IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt | 0 | 2000 |
| IRS990/InvestmentsPubTradedSecGrp/BOYAmt | 0 | 10144000 |
| IRS990/InvestmentsPubTradedSecGrp/EOYAmt | 0 | 9998000 |
| IRS990/IRPDocumentCnt | 0 | 319 |
| IRS990/IRPDocumentW2GCnt | 0 | 0 |
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| IRS990/LandBldgEquipCostOrOtherBssAmt | 0 | 12472 |
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| IRS990/LocalChaptersInd | 0 | 0 |
| IRS990/MaterialDiversionOrMisuseInd | 0 | 0 |
| IRS990/MembersOrStockholdersInd | 0 | 1 |
| IRS990/MethodOfAccountingAccrualInd | 0 | X |
| IRS990/MinutesOfCommitteesInd | 0 | 0 |
| IRS990/MinutesOfGoverningBodyInd | 0 | 1 |
| IRS990/MissionDesc | 0 | Illinois state chartered credit union operated for the mutual benefit of its members. The Credit Union makes loans to members and pays dividends to members with share deposits at a competetive rate of interest. |
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| IRS990/NetAssetsOrFundBalancesEOYAmt | 0 | 1669499 |
| IRS990/NetUnrelatedBusTxblIncmAmt | 0 | 0 |
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| IRS990/OccupancyGrp/TotalAmt | 0 | 38888 |
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| IRS990/OtherAssetsTotalGrp/EOYAmt | 0 | 129785 |
| IRS990/OtherChangesInNetAssetsAmt | 0 | 0 |
| IRS990/OtherEmployeeBenefitsGrp/TotalAmt | 0 | 442 |
| IRS990/OtherExpensesGrp/Desc | 0 | Dividends to members |
| IRS990/OtherExpensesGrp/Desc | 1 | Visa card pprogram |
| IRS990/OtherExpensesGrp/Desc | 2 | Miscellaneous |
| IRS990/OtherExpensesGrp/Desc | 3 | DFI regulatory fee |
| IRS990/OtherExpensesGrp/TotalAmt | 0 | 25063 |
| IRS990/OtherExpensesGrp/TotalAmt | 1 | 17617 |
| IRS990/OtherExpensesGrp/TotalAmt | 2 | 10910 |
| IRS990/OtherExpensesGrp/TotalAmt | 3 | 7210 |
| IRS990/OtherLiabilitiesGrp/BOYAmt | 0 | 10688541 |
| IRS990/OtherLiabilitiesGrp/EOYAmt | 0 | 10299920 |
| IRS990/OtherOrganizationDsc | 0 | Cooperative |
| IRS990/OtherSalariesAndWagesGrp/TotalAmt | 0 | 76249 |
| IRS990/OthNotesLoansReceivableNetGrp/BOYAmt | 0 | 1545609 |
| IRS990/OthNotesLoansReceivableNetGrp/EOYAmt | 0 | 1491370 |
| IRS990/PartialLiquidationInd | 0 | 0 |
| IRS990/PayrollTaxesGrp/TotalAmt | 0 | 11272 |
| IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt | 0 | 0 |
| IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt | 0 | 0 |
| IRS990/PensionPlanContributionsGrp/TotalAmt | 0 | 2252 |
| IRS990/PoliticalCampaignActyInd | 0 | 0 |
| IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt | 0 | 15277 |
| IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt | 0 | 11770 |
| IRS990/PrincipalOfficerNm | 0 | Dave Cogozzo |
| IRS990/ProfessionalFundraisingInd | 0 | 0 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 0 | 522291 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 1 | 522291 |
| IRS990/ProgramServiceRevenueGrp/Desc | 0 | INTEREST INCOME |
| IRS990/ProgramServiceRevenueGrp/Desc | 1 | FEE INCOME |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 115688 |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 1 | 44421 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 0 | 115688 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 1 | 44421 |
| IRS990/ProgSrvcAccomActy2Grp/Desc | 0 | Credit Union pays out dividends to its members on share deposit accounts at a market rate of interest. Total number of share accounts at 12/31/16 was 1,313 in the amount of $10,299,920. |
| IRS990/ProhibitedTaxShelterTransInd | 0 | 0 |
| IRS990/PYBenefitsPaidToMembersAmt | 0 | 0 |
| IRS990/PYContributionsGrantsAmt | 0 | 0 |
| IRS990/PYGrantsAndSimilarPaidAmt | 0 | 0 |
| IRS990/PYInvestmentIncomeAmt | 0 | 126553 |
| IRS990/PYOtherExpensesAmt | 0 | 194734 |
| IRS990/PYOtherRevenueAmt | 0 | 3660 |
| IRS990/PYProgramServiceRevenueAmt | 0 | 160463 |
| IRS990/PYRevenuesLessExpensesAmt | 0 | -71505 |
| IRS990/PYSalariesCompEmpBnftPaidAmt | 0 | 167447 |
| IRS990/PYTotalExpensesAmt | 0 | 362181 |
| IRS990/PYTotalProfFndrsngExpnsAmt | 0 | 0 |
| IRS990/PYTotalRevenueAmt | 0 | 290676 |
| IRS990/ReconcilationRevenueExpnssAmt | 0 | -62522 |
| IRS990/RelatedEntityInd | 0 | 0 |
| IRS990/RelatedOrganizationCtrlEntInd | 0 | 0 |
| IRS990/ReportInvestmentsOtherSecInd | 0 | 0 |
| IRS990/ReportLandBuildingEquipmentInd | 0 | 1 |
| IRS990/ReportOtherAssetsInd | 0 | 0 |
| IRS990/ReportOtherLiabilitiesInd | 0 | 1 |
| IRS990/ReportProgramRelatedInvstInd | 0 | 0 |
| IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt | 0 | 1732021 |
| IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt | 0 | 1669499 |
| IRS990/SavingsAndTempCashInvstGrp/BOYAmt | 0 | 103652 |
| IRS990/SavingsAndTempCashInvstGrp/EOYAmt | 0 | 28796 |
| IRS990/ScheduleBRequiredInd | 0 | 0 |
| IRS990ScheduleD/EquipmentGrp/BookValueAmt | 0 | 1552 |
| IRS990ScheduleD/EquipmentGrp/DepreciationAmt | 0 | 10920 |
| IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt | 0 | 12472 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 0 | 9350784 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 1 | 57665 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 2 | 385758 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 3 | 505713 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 0 | Prime Shares |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 1 | Subsdiary Shares |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 2 | Christmas Club |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 3 | Share Drafts |
| IRS990ScheduleD/TotalBookValueLandBuildingsAmt | 0 | 1552 |
| IRS990ScheduleD/TotalLiabilityAmt | 0 | 10299920 |
| IRS990/ScheduleJRequiredInd | 0 | 0 |
| IRS990/ScheduleORequiredInd | 0 | 1 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | Chairman of the Board and the President are father and son. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | Membership consists of individuals with funds on deposit with the Credit Union. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | Members participate in the annual election of the Board of Directors. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | The supervisory committee reports to the Board of Directors at the monthly board meetings and any actions or discussions are recorded as part of the board meeting minutes. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | The President reviews the 990 prior to filing and it is available for other Board Members upon request. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 5 | Governing documents and financial statement are available upon request. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 6 | The statement of financial condition of SourceOne Credit Union as of March 31, 2016 and the related statements of income, members' equity and cash flows for the year then ended were audited in accordance with auditing standards generally accepted in the United States of America. The FIN 48 Statement included in the March 31, 2016 is as follows. SourceOne Credit Union was granted an exemption from federal income taxes by the Internal Revenue Service pursuant to the provisions of Internal Revenue Code Section 501(c)(14). The tax exempt purpose of the Credit Union and the nature in which it operates is described above. Management believes the Credit Union continues to operate in compliance with its tax exempt purpose. The Credit Union had no unrelated business income for the year ending March 31, 2016 and 2015 that management believes is subject to taxation. The Credit Union's 2012 through 2015 annual information returns filed with the Internal Revenue Service are open to examination. |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | Form 990, Part VI, Section A, line 2 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | Form 990, Part VI, Section A, line 6 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | Form 990, Part VI, Section A, line 7a |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | Form 990, Part VI, Section A, line 8b |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | Form 990, Part VI, Section B, line 11b |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 5 | Form 990, Part VI, Section C, line 19 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 6 | Form 990, Part IV, Page 3, #12 |
| IRS990/SchoolOperatingInd | 0 | 0 |
| IRS990/SignificantChangeInd | 0 | 0 |
| IRS990/SignificantNewProgramSrvcInd | 0 | 0 |
| IRS990/SubjectToProxyTaxInd | 0 | 0 |
| IRS990/TaxablePartyNotificationInd | 0 | 0 |
| IRS990/TaxExemptBondsInd | 0 | 0 |
| IRS990/TempOrPermanentEndowmentsInd | 0 | 0 |
| IRS990/TerminateOperationsInd | 0 | 0 |
| IRS990/TotalAssetsBOYAmt | 0 | 12431912 |
| IRS990/TotalAssetsEOYAmt | 0 | 11979480 |
| IRS990/TotalAssetsGrp/BOYAmt | 0 | 12431912 |
| IRS990/TotalAssetsGrp/EOYAmt | 0 | 11979480 |
| IRS990/TotalCompGreaterThan150KInd | 0 | 0 |
| IRS990/TotalEmployeeCnt | 0 | 4 |
| IRS990/TotalFunctionalExpensesGrp/TotalAmt | 0 | 362194 |
| IRS990/TotalGrossUBIAmt | 0 | 0 |
| IRS990/TotalLiabilitiesBOYAmt | 0 | 10699891 |
| IRS990/TotalLiabilitiesEOYAmt | 0 | 10309981 |
| IRS990/TotalLiabilitiesGrp/BOYAmt | 0 | 10699891 |
| IRS990/TotalLiabilitiesGrp/EOYAmt | 0 | 10309981 |
| IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt | 0 | 1732021 |
| IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt | 0 | 1669499 |
| IRS990/TotalOtherCompensationAmt | 0 | 18421 |
| IRS990/TotalProgramServiceRevenueAmt | 0 | 160109 |
| IRS990/TotalReportableCompFromOrgAmt | 0 | 80000 |
| IRS990/TotalRevenueGrp/ExclusionAmt | 0 | 139563 |
| IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 160109 |
| IRS990/TotalRevenueGrp/TotalRevenueColumnAmt | 0 | 299672 |
| IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt | 0 | 0 |
| IRS990/TotalVolunteersCnt | 0 | 10 |
| IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt | 0 | 12431912 |
| IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt | 0 | 11979480 |
| IRS990/TotReportableCompRltdOrgAmt | 0 | 0 |
| IRS990/TypeOfOrganizationOtherInd | 0 | X |
| IRS990/UnrelatedBusIncmOverLimitInd | 0 | 0 |
| IRS990/UponRequestInd | 0 | X |
| IRS990/USAddress/AddressLine1Txt | 0 | 542 S Dearborn No 410 |
| IRS990/USAddress/CityNm | 0 | Chicago |
| IRS990/USAddress/StateAbbreviationCd | 0 | IL |
| IRS990/USAddress/ZIPCd | 0 | 60605 |
| IRS990/VotingMembersGoverningBodyCnt | 0 | 11 |
| IRS990/VotingMembersIndependentCnt | 0 | 10 |
| IRS990/WebsiteAddressTxt | 0 | www.source1cu.com |
| IRS990/WhistleblowerPolicyInd | 0 | 0 |
| ReturnHeader/BuildTS | 0 | 2017-02-10 21:41:12Z |
| ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd | 0 | 1 |
| ReturnHeader/BusinessOfficerGrp/PersonNm | 0 | Dave Cogozzo |
| ReturnHeader/BusinessOfficerGrp/PersonTitleTxt | 0 | President |
| ReturnHeader/BusinessOfficerGrp/PhoneNum | 0 | 3129220495 |
| ReturnHeader/BusinessOfficerGrp/SignatureDt | 0 | 2017-02-17 |
| ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt | 0 | SourceOne Credit Union |
| ReturnHeader/Filer/BusinessNameControlTxt | 0 | SOUR |
| ReturnHeader/Filer/EIN | 0 | 361661895 |
| ReturnHeader/Filer/PhoneNum | 0 | 3129220495 |
| ReturnHeader/Filer/USAddress/AddressLine1Txt | 0 | 542 S Dearborn No 410 |
| ReturnHeader/Filer/USAddress/CityNm | 0 | Chicago |
| ReturnHeader/Filer/USAddress/StateAbbreviationCd | 0 | IL |
| ReturnHeader/Filer/USAddress/ZIPCd | 0 | 60605 |
| ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId | 0 | 6C9B1A35775087DBDB8A6D25ECA509C7F6C27838 |
| ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId | 0 | 6C9B1A35775087DBDB8A6D25ECA509C7F6C27838 |
| ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd | 0 | P |
| ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt | 0 | 96.84.64.45 |
| ReturnHeader/FilingSecurityInformation/IPDt | 0 | 2017-02-17 |
| ReturnHeader/FilingSecurityInformation/IPTimezoneCd | 0 | CS |
| ReturnHeader/FilingSecurityInformation/IPTm | 0 | 11:40:14 |
| ReturnHeader/PreparerFirmGrp/PreparerFirmEIN | 0 | 363321958 |
| ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt | 0 | Desmond & Ahern Ltd |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt | 0 | 10827 S western Avenue |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm | 0 | Chicago |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd | 0 | IL |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd | 0 | 60643 |
| ReturnHeader/PreparerPersonGrp/PhoneNum | 0 | 7737794720 |
| ReturnHeader/PreparerPersonGrp/PreparationDt | 0 | 2017-02-17 |
| ReturnHeader/PreparerPersonGrp/PreparerPersonNm | 0 | Dave Rambo |
| ReturnHeader/ReturnTs | 0 | 2017-02-15T00:00:00-06:00 |
| ReturnHeader/ReturnTypeCd | 0 | 990 |
| ReturnHeader/TaxPeriodBeginDt | 0 | 2016-01-01 |
| ReturnHeader/TaxPeriodEndDt | 0 | 2016-12-31 |
| ReturnHeader/TaxYr | 0 | 2016 |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2016 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $11,979,480
- Liabilities
- $10,309,981
- Net assets
- $1,669,499
- Revenue
- $299,672
- Expenses
- $362,194
- Net income
- -$62,522