Civic Intelligence

Encurage Financial Network Credit Union

990 • Fiscal year 2016 • EIN 36-1855525

Jan 01, 2016 to Dec 31, 2016 • Filed on Jun 29, 2017

Organization ProfileWWW.FIRSTFCU.ORG

View Organization Page

2942 W Peterson AvenueChicago, IL 60659

(773) 565-2000

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

62nd percentile

0.90x

Higher debt load relative to assets than 62% of similar nonprofits.

2016 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2016

Liabilities / Revenue

22nd percentile

14.64x

Higher debt load relative to revenue than 22% of similar nonprofits.

2016 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2016

Net Margin

24th percentile

2.4%

Higher net margin than 24% of similar nonprofits.

2016 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2016

Top Officer Pay

57th percentile

$141,373

Higher top officer pay than 57% of similar nonprofits.

Top officer pay equals 3.1% of source-year revenue.

2016 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2016

Asset Growth

58th percentile

4.6%

Faster asset growth than 58% of similar nonprofits.

2016 filings • 501(c)14 • $50M-$100M nonprofits • Annualized from 2015 to 2016

Revenue Growth

57th percentile

4.9%

Faster revenue growth than 57% of similar nonprofits.

2016 filings • 501(c)14 • $50M-$100M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets62nd percentile

Assets

Up

$73,273,402

Up $3,208,950 (+4.6%) from 2015

Net Assets

Up

$7,555,203

Up $152,380 (+2.1%) from 2015

Liabilities

Up

$65,718,199

Up $3,056,570 (+4.9%) from 2015

Revenue And Expenses
Liabilities / Revenue22nd percentileNet Margin24th percentile

Revenue

Up

$4,488,725

Up $211,355 (+4.9%) from 2015

Expenses

Up

$4,382,041

Up $88,021 (+2.0%) from 2015

Net Income

Up

$106,684

Up $123,334 (+741%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth58th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$300M$200M$100M$0Assets 2010: $53,359,948Liabilities 2010: $47,165,714Net Assets 2010: $6,194,2342010Assets 2011: $58,630,714Liabilities 2011: $52,117,921Net Assets 2011: $6,512,7932011Assets 2012: $63,068,632Liabilities 2012: $55,983,648Net Assets 2012: $7,084,9842012Assets 2013: $65,714,787Liabilities 2013: $58,419,085Net Assets 2013: $7,295,7022013Assets 2014: $68,855,637Liabilities 2014: $61,379,097Net Assets 2014: $7,476,5402014Assets 2015: $70,064,452Liabilities 2015: $62,661,629Net Assets 2015: $7,402,8232015Assets 2016: $73,273,402Liabilities 2016: $65,718,199Net Assets 2016: $7,555,2032016Assets 2017: $86,269,448Liabilities 2017: $78,328,042Net Assets 2017: $7,941,4062017Assets 2018: $95,698,439Liabilities 2018: $87,975,646Net Assets 2018: $7,722,7932018Assets 2019: $91,957,974Liabilities 2019: $83,303,129Net Assets 2019: $8,654,8452019Assets 2020: $104,699,125Liabilities 2020: $94,656,654Net Assets 2020: $10,042,4712020Assets 2021: $120,386,387Liabilities 2021: $109,476,795Net Assets 2021: $10,909,5922021Assets 2022: $177,453,797Liabilities 2022: $166,789,182Net Assets 2022: $10,664,6152022Assets 2023: $219,005,750Liabilities 2023: $209,807,554Net Assets 2023: $9,198,1962023Assets 2024: $0Liabilities 2024: $0Net Assets 2024: $02024

Highlighted filing

2016

Assets$73,273,402
Liabilities$65,718,199
Net Assets$7,555,203
Open 2016 Filing

Operations Trend

Revenue Growth57th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$15M$10M$5.0M$0-$5.0MExpenses 2010: $2,932,5612010Expenses 2011: $2,989,6042011Expenses 2012: $3,336,2222012Revenue 2013: $3,682,705Expenses 2013: $3,477,056Net Income 2013: $205,6492013Revenue 2014: $4,068,793Expenses 2014: $3,894,143Net Income 2014: $174,6502014Revenue 2015: $4,277,370Expenses 2015: $4,294,020Net Income 2015: -$16,6502015Revenue 2016: $4,488,725Expenses 2016: $4,382,041Net Income 2016: $106,6842016Revenue 2017: $4,953,818Expenses 2017: $4,514,844Net Income 2017: $438,9742017Revenue 2018: $5,007,535Expenses 2018: $5,058,674Net Income 2018: -$51,1392018Revenue 2019: $6,658,350Expenses 2019: $6,190,335Net Income 2019: $468,0152019Revenue 2020: $8,854,560Expenses 2020: $7,903,525Net Income 2020: $951,0352020Revenue 2021: $7,217,115Expenses 2021: $6,062,298Net Income 2021: $1,154,8172021Revenue 2022: $7,839,792Expenses 2022: $7,051,869Net Income 2022: $787,9232022Revenue 2023: $12,973,055Expenses 2023: $13,898,964Net Income 2023: -$925,9092023Revenue 2024: $5,221,898Expenses 2024: $5,899,223Net Income 2024: -$677,3252024

Highlighted filing

2016

Revenue$4,488,725
Expenses$4,382,041
Net Income$106,684
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Jun 29, 2017
Return Version
2016v3.0
Gross Receipts
$4,584,137
Mission and Program Overview

Mission

To provide superior financial value with unsurpassed service while maintaining our tradition of stability, trust, and security.

Encourage thrift among its members and provide a source of credit at reasonable interest rates.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$49,851,546$49,251,508▼ $600,038
Investments Program Related$11,215,425$12,180,868▲ $965,443
Rtn Earn Endowment Incm Other Fnds$7,402,823$7,555,203▲ $152,380
Savings and Temporary Cash Investments$2,589,457$5,272,403▲ $2,682,946
Land, Buildings, and Equipment, Net$3,098,890$3,016,154▼ $82,736
Investments in Publicly Traded Securities$1,591,425$1,744,828▲ $153,403
Cash and Non-Interest-Bearing Accounts$632,148$770,600▲ $138,452
Prepaid Expenses and Deferred Charges$212,811$168,331▼ $44,480
Accounts Receivable$27,181$5,603▼ $21,578
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$70,064,452$73,273,402▲ $3,208,950
Other Assets Total$845,569$863,107▲ $17,538
Liabilities
Other Liabilities$62,444,227$65,371,039▲ $2,926,812
Accounts Payable and Accrued Expenses$217,402$210,374▼ $7,028
Escrow Account Liability$0$136,786▲ $136,786
Total Liabilities$62,661,629$65,718,199▲ $3,056,570
Net Assets / Fund Balance
Total Net Assets Fund Balance$7,402,823$7,555,203▲ $152,380
Total Liabilities and Net Assets / Fund Balance$70,064,452$73,273,402▲ $3,208,950

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,980,481$263,744$2,244,225
Land$856,619-$856,619
Equipment$154,257$688,789$843,046
Other Land Buildings$13,840-$13,840
Leasehold Improvements$10,957$575$11,532
Investment Program Related Org$155,900--
Compensation and Service Providers
Top Officer Pay57th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Michael AbrahamPresident/CEOFT$119,542$21,831$141,373

Board Members and Trustees

NameTitle
William HarlanChairperson
Mary LynchVice Chairperson
Carl RohrDirector
Jose PerezDirector
Michael GebhardtDirector
Mike RamelDirector
Tom MonticelloDirector
Jamie BerraTreasurer/secretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$4,135,719
Investment Income
$260,185
Other Revenue
$92,821
Change in Net Assets
$106,684

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,488,725
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$45,696
Total Revenue per Audited Statements
$4,534,421
Total Revenue per Form 990
$4,488,725
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,843,737
Salaries, Compensation, and Employee Benefits$1,538,304
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$1,068,521
Interest---$258,748
Occupancy---$188,560
Other Expenses---$187,268
All Other Expenses---$149,221
Other Employee Benefits---$146,902
Current Officers, Directors, Trustees, and Key Employees---$141,374
Depreciation Depletion---$135,146
Advertising---$126,552
Payroll Taxes---$126,399
Office Expenses---$125,359
Fees for Services Other---$105,342
Pension Plan Contributions---$55,108
Conferences and Meetings---$53,457
Insurance---$34,599
Fees for Services Accounting---$23,286
Fees for Services Legal---$5,353
Information Technology---$2,655
Total Functional Expenses$0$0$0$4,382,041

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$4,382,041
Total Expenses per Audited Statements$4,382,041
Total Expenses per Form 990$4,382,041
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Regular Shares$36,838,625
Certificates$15,813,279
Share Drafts$7,371,606
Money Market Shares$3,851,572
Ira Shares$1,383,380
Christmas Club$112,577
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
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, Part VI, Section A, Line 6

“The credit union is a cooperative nonprofit association organized under the state of illinois credit union act whose membership includes select employee groups and people who live or work in the villages of skokie, morton grove, lincolnwood, or the city of park ridge, illinois, or within the borders of dempster street to the north, ridge/ravenswood/foster avenues to the east, illinois highway 19/irving park road to the south, and interstate highway 294 to the west, and their immediate family. A member is defined as any individual that has a deposit account at the credit union.”

Form 990, Part VI, Section A, Line 7A

“VIA PROXY”

Form 990, Part VI, Section A, Line 7B

“VIA PROXY”

Form 990, Part VI, Section B, Line 11B

“The annual form 990 is reviewed by the credit union's supervisory committee prior to filing.”

Form 990, Part VI, Section B, Line 12C

“When hired, employees are given a copy of the personnel policies, which include a conflict of interest policy, and sign an acknowledgement form that they have read and understand said policies. Board members annually sign an oath of office stating they do not have conflicts of interest.”

Form 990, Part VI, Section B, Line 15

“Compensation is reviewed by the board committee, which utilizes a salary survey.”

Form 990, Part VI, Section C, Line 19

“The credit union makes its governing documents, conflict of interest policy, and financial statements available upon request.”

Filing and Contact Details

Filer

Filer Name
First Financial Credit Union
EIN
36-1855525
Phone
7735652000
Address
2942 W PETERSON AVENUE, CHICAGO, IL 60659

Signing Officer

Name
Michael Abraham
Title
President/CEO
Phone
7735652000
Signed
2017-06-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael Abraham
Formed
1936
Legal Domicile
Il
Voting Board Members
8
Independent Board Members
8
Employees
23
Volunteers
8

Preparer

Firm
Selden Fox Ltd
Address
619 ENTERPRISE DRIVE, OAK BROOK, IL 60523-8835
Preparer
Robert G Wujek
Phone
6309541400
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Reclassification of realized gains from accumulated other comprehensive income -7,048.”

FORM 990, PART XII, LINE 2C:

“The credit union has not changed either its oversight process or selection process of the independent auditor during the tax year.”

Financial Statement Notes

PART IV, LINE 2B:

“The credit union has shares on deposit from members that function as mortgage escrow accounts to pay property taxes, mortgage insurance, and hazard insurance on real estate related to those mortgages held by the credit union.”

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“Reclassification of realized gains from accumulated other comprehensive income -7,048.”

Raw XML AppendixShowing 400 of 439 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/OtherAssetsTotalGrp/EOYAmt0863107
IRS990/OtherChangesInNetAssetsAmt0-7048
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0146902
IRS990/OtherExpensesGrp/Desc0LOSSES ON LOANS
IRS990/OtherExpensesGrp/Desc1BANK CARD PROGRAMS
IRS990/OtherExpensesGrp/Desc2OTHER OPERATING COSTS
IRS990/OtherExpensesGrp/Desc3LOAN PROGRAMS
IRS990/OtherExpensesGrp/TotalAmt0870000
IRS990/OtherExpensesGrp/TotalAmt1309168
IRS990/OtherExpensesGrp/TotalAmt2269023
IRS990/OtherExpensesGrp/TotalAmt3187268
IRS990/OtherLiabilitiesGrp/BOYAmt062444227
IRS990/OtherLiabilitiesGrp/EOYAmt065371039
IRS990/OtherRevenueMiscGrp/BusinessCd0522100
IRS990/OtherRevenueMiscGrp/Desc0MISCELLANEOUS INCOME
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt092821
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt092821
IRS990/OtherRevenueTotalAmt092821
IRS990/OtherSalariesAndWagesGrp/TotalAmt01068521
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt049851546
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt049251508
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/TotalAmt0126399
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt055108
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0212811
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0168331
IRS990/PrincipalOfficerNm0MICHAEL ABRAHAM
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0522100
IRS990/ProgramServiceRevenueGrp/BusinessCd1522100
IRS990/ProgramServiceRevenueGrp/BusinessCd2522100
IRS990/ProgramServiceRevenueGrp/Desc0INTEREST ON LOANS
IRS990/ProgramServiceRevenueGrp/Desc1SHARE DRAFT/FEE INCOME
IRS990/ProgramServiceRevenueGrp/Desc2COMMISSION/INTERCHANGE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt03303842
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1424718
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2407159
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt03303842
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1424718
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2407159
IRS990/ProgSrvcAccomActy2Grp/Desc0SHARE ACCOUNTS ARE OFFERED AT A NO-MONTHLY FEE BASIS TO THOSE MEMBERS WHO APPLY AND ARE IN GOOD STANDING WITH THE CREDIT UNION.
IRS990/ProgSrvcAccomActy3Grp/Desc0ATM/DEBIT CARDS AND CHECKCARDS ARE AVAILABLE TO MEMBERS WHO APPLY FOR ELECTRONIC ACCESS TO THEIR ACCOUNTS FOR DEPOSIT AND WITHDRAWAL OF FUNDS AND ACCOUNT INFORMATION.
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0255738
IRS990/PYOtherExpensesAmt02762227
IRS990/PYOtherRevenueAmt0349
IRS990/PYProgramServiceRevenueAmt04021283
IRS990/PYRevenuesLessExpensesAmt0-16650
IRS990/PYSalariesCompEmpBnftPaidAmt01531793
IRS990/PYTotalExpensesAmt04294020
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt04277370
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0106684
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd01
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt07402823
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt07555203
IRS990/SavingsAndTempCashInvstGrp/BOYAmt02589457
IRS990/SavingsAndTempCashInvstGrp/EOYAmt05272403
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/AdditionsDuringYearAmt0136786
IRS990ScheduleD/AgentTrusteeEtcInd00
IRS990ScheduleD/BeginningBalanceAmt00
IRS990ScheduleD/BuildingsGrp/BookValueAmt01980481
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0263744
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02244225
IRS990ScheduleD/DistributionsDuringYearAmt00
IRS990ScheduleD/EndingBalanceAmt0136786
IRS990ScheduleD/EquipmentGrp/BookValueAmt0154257
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0688789
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0843046
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt04382041
IRS990ScheduleD/ExplanationProvidedInd0X
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd01
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt011015980
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt1798988
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt2210000
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt3155900
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0CERTIFICATES OF DEPOSIT
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc1US GOVERNMENT AGENCY SECURITIES
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc2INVESTMENT IN CUSOS
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc3INVESTMENT IN FEDERAL HOME LOAN BANK STOCK
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd1C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd2C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd3C
IRS990ScheduleD/LandGrp/BookValueAmt0856619
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0856619
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt010957
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0575
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt011532
IRS990ScheduleD/NetUnrealizedGainsInvstAmt052744
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt013840
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt013840
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt036838625
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt11383380
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt27371606
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt33851572
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt415813279
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt5112577
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0REGULAR SHARES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1IRA SHARES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2SHARE DRAFTS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3MONEY MARKET SHARES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc4CERTIFICATES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc5CHRISTMAS CLUB
IRS990ScheduleD/OtherRevenueAmt0-7048
IRS990ScheduleD/RevenueNotReportedAmt045696
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt04488725
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CREDIT UNION HAS SHARES ON DEPOSIT FROM MEMBERS THAT FUNCTION AS MORTGAGE ESCROW ACCOUNTS TO PAY PROPERTY TAXES, MORTGAGE INSURANCE, AND HAZARD INSURANCE ON REAL ESTATE RELATED TO THOSE MORTGAGES HELD BY THE CREDIT UNION.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1RECLASSIFICATION OF REALIZED GAINS FROM ACCUMULATED OTHER COMPREHENSIVE INCOME -7,048.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART IV, LINE 2B:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03016154
IRS990ScheduleD/TotalBookValueProgramRltdAmt012180868
IRS990ScheduleD/TotalExpensesPerForm990Amt04382041
IRS990ScheduleD/TotalLiabilityAmt065371039
IRS990ScheduleD/TotalRevenuePerForm990Amt04488725
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt04534421
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt04382041
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE CREDIT UNION IS A COOPERATIVE NONPROFIT ASSOCIATION ORGANIZED UNDER THE STATE OF ILLINOIS CREDIT UNION ACT WHOSE MEMBERSHIP INCLUDES SELECT EMPLOYEE GROUPS AND PEOPLE WHO LIVE OR WORK IN THE VILLAGES OF SKOKIE, MORTON GROVE, LINCOLNWOOD, OR THE CITY OF PARK RIDGE, ILLINOIS, OR WITHIN THE BORDERS OF DEMPSTER STREET TO THE NORTH, RIDGE/RAVENSWOOD/FOSTER AVENUES TO THE EAST, ILLINOIS HIGHWAY 19/IRVING PARK ROAD TO THE SOUTH, AND INTERSTATE HIGHWAY 294 TO THE WEST, AND THEIR IMMEDIATE FAMILY. A MEMBER IS DEFINED AS ANY INDIVIDUAL THAT HAS A DEPOSIT ACCOUNT AT THE CREDIT UNION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1VIA PROXY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2VIA PROXY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ANNUAL FORM 990 IS REVIEWED BY THE CREDIT UNION'S SUPERVISORY COMMITTEE PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4WHEN HIRED, EMPLOYEES ARE GIVEN A COPY OF THE PERSONNEL POLICIES, WHICH INCLUDE A CONFLICT OF INTEREST POLICY, AND SIGN AN ACKNOWLEDGEMENT FORM THAT THEY HAVE READ AND UNDERSTAND SAID POLICIES. BOARD MEMBERS ANNUALLY SIGN AN OATH OF OFFICE STATING THEY DO NOT HAVE CONFLICTS OF INTEREST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5COMPENSATION IS REVIEWED BY THE BOARD COMMITTEE, WHICH UTILIZES A SALARY SURVEY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE CREDIT UNION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7RECLASSIFICATION OF REALIZED GAINS FROM ACCUMULATED OTHER COMPREHENSIVE INCOME -7,048.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8THE CREDIT UNION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS OF THE INDEPENDENT AUDITOR DURING THE TAX YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART XI, LINE 9:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PART XII, LINE 2C:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt070064452
IRS990/TotalAssetsEOYAmt073273402
IRS990/TotalAssetsGrp/BOYAmt070064452
IRS990/TotalAssetsGrp/EOYAmt073273402
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt023
IRS990/TotalFunctionalExpensesGrp/TotalAmt04382041
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt062661629
IRS990/TotalLiabilitiesEOYAmt065718199
IRS990/TotalLiabilitiesGrp/BOYAmt062661629
IRS990/TotalLiabilitiesGrp/EOYAmt065718199
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt07402823
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt07555203
IRS990/TotalOtherCompensationAmt021831
IRS990/TotalProgramServiceRevenueAmt04135719
IRS990/TotalReportableCompFromOrgAmt0119542
IRS990/TotalRevenueGrp/ExclusionAmt0260185
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt04228540
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt04488725
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt08
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt070064452
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt073273402
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02942 W PETERSON AVENUE
IRS990/USAddress/CityNm0CHICAGO
IRS990/USAddress/StateAbbreviationCd0IL

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$73,273,402
Liabilities
$65,718,199
Net assets
$7,555,203
Revenue
$4,488,725
Expenses
$4,382,041
Net income
$106,684
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$5.22$5.90$0.68
2023Detailed filing. Detailed filing data is available for this year.$219$210$9.20$13.0$13.9$0.93
2022Detailed filing. Detailed filing data is available for this year.$177$167$10.7$7.84$7.05$0.79
2021Detailed filing. Detailed filing data is available for this year.$120$109$10.9$7.22$6.06$1.15
2020Detailed filing. Detailed filing data is available for this year.$105$94.7$10.0$8.85$7.90$0.95
2019Detailed filing. Detailed filing data is available for this year.$92.0$83.3$8.65$6.66$6.19$0.47
2018Detailed filing. Detailed filing data is available for this year.$95.7$88.0$7.72$5.01$5.06$0.05
2017Detailed filing. Detailed filing data is available for this year.$86.3$78.3$7.94$4.95$4.51$0.44
2016Detailed filing. Detailed filing data is available for this year.$73.3$65.7$7.56$4.49$4.38$0.11
2015Detailed filing. Detailed filing data is available for this year.$70.1$62.7$7.40$4.28$4.29$0.02
2014Detailed filing. Detailed filing data is available for this year.$68.9$61.4$7.48$4.07$3.89$0.17
2013Detailed filing. Detailed filing data is available for this year.$65.7$58.4$7.30$3.68$3.48$0.21
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$63.1$56.0$7.08$3.34
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$58.6$52.1$6.51$2.99
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$53.4$47.2$6.19$2.93