Liabilities / Assets
48th percentile
Higher debt load relative to assets than 48% of similar nonprofits.
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.86x
Liabilities / Revenue
94th percentile
Higher debt load relative to revenue than 94% of similar nonprofits.
Net Margin
6th percentile
Higher net margin than 6% of similar nonprofits.
Top Officer Pay
62nd percentile
Higher top officer pay than 62% of similar nonprofits.
Top officer pay equals 25.6% of source-year revenue.
Asset Growth
27th percentile
Faster asset growth than 27% of similar nonprofits.
Revenue Growth
39th percentile
Faster revenue growth than 39% of similar nonprofits.
Balance Sheet
Assets
Down$11,327,981
Down $287,773 (-2.5%) from 2017
Net Assets
Down$1,580,111
Down $49,631 (-3.0%) from 2017
Liabilities
Down$9,747,870
Down $238,142 (-2.4%) from 2017
Revenue And Expenses
Revenue
Up$325,824
Up $21,373 (+7.0%) from 2017
Expenses
Up$375,455
Up $31,247 (+9.1%) from 2017
Net Income
Down-$49,631
Down $9,874 (-25%) from 2017
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jan 1, 2018 to Dec 31, 2018
- Signed
- Feb 25, 2019
- Return Version
- 2018v3.1
- Gross Receipts
- $325,824
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 | $9,553,000 | $9,257,000 | ▼ $296,000 |
| Other Notes and Loans Receivable, Net | $1,600,935 | $1,673,910 | ▲ $72,975 |
| Rtn Earn Endowment Incm Other Fnds | $1,629,742 | $1,580,111 | ▼ $49,631 |
| Cash and Non-Interest-Bearing Accounts | $284,311 | $240,859 | ▼ $43,452 |
| Prepaid Expenses and Deferred Charges | $18,965 | $30,050 | ▲ $11,085 |
| Savings and Temporary Cash Investments | $28,877 | $3,175 | ▼ $25,702 |
| Investments Other Securities | $2,000 | $2,000 | → $0 |
| Land, Buildings, and Equipment, Net | $1,395 | $1,294 | ▼ $101 |
| Pd in Cap Srpls Land Bldg Eqp Fund | $0 | $0 | → $0 |
| Cap Stk Tr Prin Current Funds | $0 | $0 | → $0 |
| Total Assets | $11,615,754 | $11,327,981 | ▼ $287,773 |
| Other Assets Total | $126,271 | $119,693 | ▼ $6,578 |
| Liabilities | |||
| Other Liabilities | $9,976,465 | $9,740,197 | ▼ $236,268 |
| Accounts Payable and Accrued Expenses | $9,547 | $7,673 | ▼ $1,874 |
| Total Liabilities | $9,986,012 | $9,747,870 | ▼ $238,142 |
| Net Assets / Fund Balance | |||
| Total Net Assets Fund Balance | $1,629,742 | $1,580,111 | ▼ $49,631 |
| Total Liabilities and Net Assets / Fund Balance | $11,615,754 | $11,327,981 | ▼ $287,773 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Equipment | $1,294 | $13,892 | $15,186 |
Compensation and Service Providers
Employees
| Name | Title | Full / Part Time | Base | Other | Total |
|---|---|---|---|---|---|
| Dave Cogozzo | President/Treasurer | FT | $76,160 | $7,101 | $83,261 |
| Tim White | Director | - | $12,000 | - | $12,000 |
Board Members and Trustees
| Name | Title |
|---|---|
| Gregory Mack | Chairman |
| Adrienne Dempsey | Director |
| Dave Cogozzo | Director |
| James Colello | Director |
| Joshua Beyne | Director |
| Michael Cogozzo | Director |
| Michael Thomka | Director |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $0
- Program Service Revenue
- $176,505
- Investment Income
- $149,319
- Other Revenue
- $0
- Change in Net Assets
- $-49,631
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Other Expenses | $189,518 |
| Salaries, Compensation, and Employee Benefits | $185,937 |
| 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 | - | - | - | $95,261 |
| Other Salaries and Wages | - | - | - | $73,398 |
| Occupancy | - | - | - | $49,719 |
| Office Expenses | - | - | - | $35,395 |
| Information Technology | - | - | - | $12,640 |
| Payroll Taxes | - | - | - | $11,645 |
| All Other Expenses | - | - | - | $9,582 |
| Fees for Services Accounting | - | - | - | $7,150 |
| Insurance | - | - | - | $6,826 |
| Other Expenses | - | - | - | $5,802 |
| Conferences and Meetings | - | - | - | $5,100 |
| Other Employee Benefits | - | - | - | $3,431 |
| Pension Plan Contributions | - | - | - | $2,202 |
| Depreciation Depletion | - | - | - | $1,354 |
| Advertising | - | - | - | $996 |
| Fees for Service Investment Mgmnt Fees | - | - | - | $381 |
| Travel | - | - | - | $8 |
| Total Functional Expenses | $0 | $0 | $0 | $375,455 |
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 | $8,584,172 |
| Share Drafts | $571,735 |
| Christmas Club | $395,825 |
| Primary Certificate of Deposit | $129,591 |
| Subsdiary Shares | $53,837 |
| Roth IRA | $5,037 |
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
“Board member, Michael Cogozzo and the CEO 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
- 2019-02-25
- 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
- 3
- Volunteers
- 9
Preparer
- Firm
- Desmond & Ahern Ltd
- Address
- 10827 S western Avenue, Chicago, IL 60643
- Preparer
- David J 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, 2018 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, 2018 Audited Financial Statements 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, 2018 and 2017 that management believes is subject to taxation. The Credit Union's 2014 through 2017 annual information returns filed with the Internal Revenue Service are open to examination.”
Raw XML Appendix369 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 | 7673 |
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| IRS990/ActivityOrMissionDesc | 0 | Illinois state chartered credit union operated for the mutual benefit of its members. |
| IRS990/AdvertisingGrp/TotalAmt | 0 | 996 |
| IRS990/AllOtherExpensesGrp/TotalAmt | 0 | 9582 |
| IRS990/BackupWthldComplianceInd | 0 | 1 |
| IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt | 0 | Dave Cogozzo |
| IRS990/BooksInCareOfDetail/PhoneNum | 0 | 3129220495 |
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| IRS990/BooksInCareOfDetail/USAddress/CityNm | 0 | Chicago |
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| IRS990/CapStkTrPrinCurrentFundsGrp/EOYAmt | 0 | 0 |
| IRS990/CashNonInterestBearingGrp/BOYAmt | 0 | 284311 |
| IRS990/CashNonInterestBearingGrp/EOYAmt | 0 | 240859 |
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| IRS990/ConsolidatedAuditFinclStmtInd | 0 | 0 |
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| IRS990/CYTotalExpensesAmt | 0 | 375455 |
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| IRS990/CYTotalRevenueAmt | 0 | 325824 |
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| IRS990/DelegationOfMgmtDutiesInd | 0 | 0 |
| IRS990/DepreciationDepletionGrp/TotalAmt | 0 | 1354 |
| IRS990/Desc | 0 | Credit Union makes and services consumer and real estate loans to members. The number of loans outstanding at 12/31/18 was 373 for a total of $1,693,531. |
| IRS990/DescribedInSection501c3Ind | 0 | 0 |
| IRS990/DisregardedEntityInd | 0 | 0 |
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| IRS990/DonorAdvisedFundInd | 0 | 0 |
| IRS990/ElectionOfBoardMembersInd | 0 | 1 |
| IRS990/EmployeeCnt | 0 | 3 |
| IRS990/EmploymentTaxReturnsFiledInd | 0 | 1 |
| IRS990/FamilyOrBusinessRlnInd | 0 | 1 |
| IRS990/FederalGrantAuditRequiredInd | 0 | 0 |
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| IRS990/FeesForSrvcInvstMgmntFeesGrp/TotalAmt | 0 | 381 |
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| IRS990/ForeignFinancialAccountInd | 0 | 0 |
| IRS990/ForeignOfficeInd | 0 | 0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 0 | 3.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 1 | 1.00 |
| 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 | 4.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 9 | 40.00 |
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| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 2 | X |
| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 3 | X |
| 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/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 | 7101 |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 0 | Gregory Mack |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 1 | Joshua Beyne |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 2 | Michael Cogozzo |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 3 | James Colello |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 4 | Adrienne Dempsey |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 5 | James Colello |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 6 | Dave Cogozzo |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 7 | Michael Thomka |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 8 | Tim White |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 9 | Dave Cogozzo |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 0 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 1 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 2 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 3 | 0 |
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| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 6 | 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 | President/Treasurer |
| IRS990/Form990ProvidedToGvrnBodyInd | 0 | 0 |
| IRS990/FormationYr | 0 | 1935 |
| IRS990/FormerOfcrEmployeesListedInd | 0 | 0 |
| IRS990/FSAuditedInd | 0 | 0 |
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| IRS990/GoverningBodyVotingMembersCnt | 0 | 11 |
| IRS990/GrantsToIndividualsInd | 0 | 0 |
| IRS990/GrantsToOrganizationsInd | 0 | 0 |
| IRS990/GrantToRelatedPersonInd | 0 | 0 |
| IRS990/GrossReceiptsAmt | 0 | 325824 |
| IRS990/GroupReturnForAffiliatesInd | 0 | 0 |
| IRS990/IncludeFIN48FootnoteInd | 0 | 0 |
| IRS990/IndependentAuditFinclStmtInd | 0 | 0 |
| IRS990/IndependentVotingMemberCnt | 0 | 10 |
| IRS990/IndivRcvdGreaterThan100KCnt | 0 | 0 |
| IRS990/IndoorTanningServicesInd | 0 | 0 |
| IRS990/InfoInScheduleOPartVIInd | 0 | X |
| IRS990/InformationTechnologyGrp/TotalAmt | 0 | 12640 |
| IRS990/InsuranceGrp/TotalAmt | 0 | 6826 |
| IRS990/InvestmentIncomeGrp/ExclusionAmt | 0 | 149319 |
| IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt | 0 | 149319 |
| IRS990/InvestmentInJointVentureInd | 0 | 0 |
| IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt | 0 | 2000 |
| IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt | 0 | 2000 |
| IRS990/InvestmentsPubTradedSecGrp/BOYAmt | 0 | 9553000 |
| IRS990/InvestmentsPubTradedSecGrp/EOYAmt | 0 | 9257000 |
| IRS990/IRPDocumentCnt | 0 | 215 |
| IRS990/IRPDocumentW2GCnt | 0 | 0 |
| IRS990/LandBldgEquipAccumDeprecAmt | 0 | 13892 |
| IRS990/LandBldgEquipBasisNetGrp/BOYAmt | 0 | 1395 |
| IRS990/LandBldgEquipBasisNetGrp/EOYAmt | 0 | 1294 |
| IRS990/LandBldgEquipCostOrOtherBssAmt | 0 | 15186 |
| IRS990/LegalDomicileStateCd | 0 | IL |
| IRS990/LoanOutstandingInd | 0 | 0 |
| 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/NetAssetsOrFundBalancesBOYAmt | 0 | 1629742 |
| IRS990/NetAssetsOrFundBalancesEOYAmt | 0 | 1580111 |
| IRS990/NetUnrelatedBusTxblIncmAmt | 0 | 0 |
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| IRS990/OfficerMailingAddressInd | 0 | 0 |
| IRS990/OperateHospitalInd | 0 | 0 |
| IRS990/Organization501cInd | 0 | X |
| IRS990/OrgDoesNotFollowSFAS117Ind | 0 | X |
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| IRS990/OtherAssetsTotalGrp/EOYAmt | 0 | 119693 |
| IRS990/OtherChangesInNetAssetsAmt | 0 | 0 |
| IRS990/OtherEmployeeBenefitsGrp/TotalAmt | 0 | 3431 |
| IRS990/OtherExpensesGrp/Desc | 0 | Visa card program |
| IRS990/OtherExpensesGrp/Desc | 1 | Dividends to members |
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| IRS990/OtherExpensesGrp/TotalAmt | 1 | 22598 |
| IRS990/OtherExpensesGrp/TotalAmt | 2 | 9160 |
| IRS990/OtherExpensesGrp/TotalAmt | 3 | 5802 |
| IRS990/OtherLiabilitiesGrp/BOYAmt | 0 | 9976465 |
| IRS990/OtherLiabilitiesGrp/EOYAmt | 0 | 9740197 |
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| IRS990/OthNotesLoansReceivableNetGrp/BOYAmt | 0 | 1600935 |
| IRS990/OthNotesLoansReceivableNetGrp/EOYAmt | 0 | 1673910 |
| IRS990/PartialLiquidationInd | 0 | 0 |
| IRS990/PayrollTaxesGrp/TotalAmt | 0 | 11645 |
| IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt | 0 | 0 |
| IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt | 0 | 0 |
| IRS990/PensionPlanContributionsGrp/TotalAmt | 0 | 2202 |
| IRS990/PoliticalCampaignActyInd | 0 | 0 |
| IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt | 0 | 18965 |
| IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt | 0 | 30050 |
| IRS990/PrincipalOfficerNm | 0 | Dave Cogozzo |
| IRS990/ProfessionalFundraisingInd | 0 | 0 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 0 | 522291 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 1 | 522291 |
| IRS990/ProgramServiceRevenueGrp/Desc | 0 | Interest on loans |
| IRS990/ProgramServiceRevenueGrp/Desc | 1 | Fee income |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 128796 |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 1 | 47709 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 0 | 128796 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 1 | 47709 |
| 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 12/31/18 was 1,231 in the amount of $9,740,196. |
| IRS990/ProhibitedTaxShelterTransInd | 0 | 0 |
| IRS990/PYBenefitsPaidToMembersAmt | 0 | 0 |
| IRS990/PYContributionsGrantsAmt | 0 | 0 |
| IRS990/PYGrantsAndSimilarPaidAmt | 0 | 0 |
| IRS990/PYInvestmentIncomeAmt | 0 | 144352 |
| IRS990/PYOtherExpensesAmt | 0 | 165952 |
| IRS990/PYOtherRevenueAmt | 0 | 2550 |
| IRS990/PYProgramServiceRevenueAmt | 0 | 157549 |
| IRS990/PYRevenuesLessExpensesAmt | 0 | -39757 |
| IRS990/PYSalariesCompEmpBnftPaidAmt | 0 | 178256 |
| IRS990/PYTotalExpensesAmt | 0 | 344208 |
| IRS990/PYTotalProfFndrsngExpnsAmt | 0 | 0 |
| IRS990/PYTotalRevenueAmt | 0 | 304451 |
| IRS990/ReconcilationRevenueExpnssAmt | 0 | -49631 |
| 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 | 1629742 |
| IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt | 0 | 1580111 |
| IRS990/SavingsAndTempCashInvstGrp/BOYAmt | 0 | 28877 |
| IRS990/SavingsAndTempCashInvstGrp/EOYAmt | 0 | 3175 |
| IRS990/ScheduleBRequiredInd | 0 | 0 |
| IRS990ScheduleD/EquipmentGrp/BookValueAmt | 0 | 1294 |
| IRS990ScheduleD/EquipmentGrp/DepreciationAmt | 0 | 13892 |
| IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt | 0 | 15186 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 0 | 8584172 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 1 | 53837 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 2 | 395825 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 3 | 571735 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 4 | 129591 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 5 | 5037 |
| 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/OtherLiabilitiesOrgGrp/Desc | 4 | Primary Certificate of Deposit |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 5 | Roth IRA |
| IRS990ScheduleD/TotalBookValueLandBuildingsAmt | 0 | 1294 |
| IRS990ScheduleD/TotalLiabilityAmt | 0 | 9740197 |
| IRS990/ScheduleJRequiredInd | 0 | 0 |
| IRS990/ScheduleORequiredInd | 0 | 1 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | Board member, Michael Cogozzo and the CEO 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, 2018 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, 2018 Audited Financial Statements 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, 2018 and 2017 that management believes is subject to taxation. The Credit Union's 2014 through 2017 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/SubjectToExcsTaxNetInvstIncInd | 0 | 0 |
| IRS990/SubjectToProxyTaxInd | 0 | 0 |
| IRS990/SubjToTaxRmnrtnExPrchtPymtInd | 0 | 0 |
| IRS990/TaxablePartyNotificationInd | 0 | 0 |
| IRS990/TaxExemptBondsInd | 0 | 0 |
| IRS990/TempOrPermanentEndowmentsInd | 0 | 0 |
| IRS990/TerminateOperationsInd | 0 | 0 |
| IRS990/TotalAssetsBOYAmt | 0 | 11615754 |
| IRS990/TotalAssetsEOYAmt | 0 | 11327981 |
| IRS990/TotalAssetsGrp/BOYAmt | 0 | 11615754 |
| IRS990/TotalAssetsGrp/EOYAmt | 0 | 11327981 |
| IRS990/TotalCompGreaterThan150KInd | 0 | 0 |
| IRS990/TotalEmployeeCnt | 0 | 3 |
| IRS990/TotalFunctionalExpensesGrp/TotalAmt | 0 | 375455 |
| IRS990/TotalGrossUBIAmt | 0 | 0 |
| IRS990/TotalLiabilitiesBOYAmt | 0 | 9986012 |
| IRS990/TotalLiabilitiesEOYAmt | 0 | 9747870 |
| IRS990/TotalLiabilitiesGrp/BOYAmt | 0 | 9986012 |
| IRS990/TotalLiabilitiesGrp/EOYAmt | 0 | 9747870 |
| IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt | 0 | 1629742 |
| IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt | 0 | 1580111 |
| IRS990/TotalOtherCompensationAmt | 0 | 7101 |
| IRS990/TotalProgramServiceRevenueAmt | 0 | 176505 |
| IRS990/TotalReportableCompFromOrgAmt | 0 | 88160 |
| IRS990/TotalRevenueGrp/ExclusionAmt | 0 | 149319 |
| IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 176505 |
| IRS990/TotalRevenueGrp/TotalRevenueColumnAmt | 0 | 325824 |
| IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt | 0 | 0 |
| IRS990/TotalVolunteersCnt | 0 | 9 |
| IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt | 0 | 11615754 |
| IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt | 0 | 11327981 |
| IRS990/TotReportableCompRltdOrgAmt | 0 | 0 |
| IRS990/TravelGrp/TotalAmt | 0 | 8 |
| 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 | 2019-02-21 02:37:17Z |
| 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 | 2019-02-25 |
| 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 | 738B9105E46B695E191D81BBB6C655DEEDF341ED |
| ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId | 0 | 738B9105E46B695E191D81BBB6C655DEEDF341ED |
| ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd | 0 | P |
| ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt | 0 | 96.84.64.45 |
| ReturnHeader/FilingSecurityInformation/IPDt | 0 | 2019-02-25 |
| ReturnHeader/FilingSecurityInformation/IPTimezoneCd | 0 | CS |
| ReturnHeader/FilingSecurityInformation/IPTm | 0 | 15:02:02 |
| 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 | 2019-02-25 |
| ReturnHeader/PreparerPersonGrp/PreparerPersonNm | 0 | David J Rambo |
| ReturnHeader/ReturnTs | 0 | 2019-02-28T11:32:51-06:00 |
| ReturnHeader/ReturnTypeCd | 0 | 990 |
| ReturnHeader/TaxPeriodBeginDt | 0 | 2018-01-01 |
| ReturnHeader/TaxPeriodEndDt | 0 | 2018-12-31 |
| ReturnHeader/TaxYr | 0 | 2018 |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2018 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $11,327,981
- Liabilities
- $9,747,870
- Net assets
- $1,580,111
- Revenue
- $325,824
- Expenses
- $375,455
- Net income
- -$49,631