Civic Intelligence

Illinois Valley Credit Union

990 • Fiscal year 2014 • EIN 36-2334042

Jan 01, 2014 to Dec 31, 2014 • Filed on Jun 19, 2015

Organization Profileivcu.com

View Organization Page

2107 Marquette RoadPeru, IL 61354-0017

(815) 224-2666

Siviq Scores

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

Liabilities / Assets

73rd percentile

0.90x

Higher debt load relative to assets than 73% of similar nonprofits.

2014 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2014

Liabilities / Revenue

49th percentile

19.60x

Higher debt load relative to revenue than 49% of similar nonprofits.

2014 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2014

Net Margin

52nd percentile

6.2%

Higher net margin than 52% of similar nonprofits.

2014 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2014

Top Officer Pay

69th percentile

$84,477

Higher top officer pay than 69% of similar nonprofits.

Top officer pay equals 8.0% of source-year revenue.

2014 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2014

Asset Growth

62nd percentile

3.0%

Faster asset growth than 62% of similar nonprofits.

2014 filings • 501(c)14 • $10M-$25M nonprofits • Annualized from 2013 to 2014

Revenue Growth

97th percentile

18%

Faster revenue growth than 97% of similar nonprofits.

2014 filings • 501(c)14 • $10M-$25M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets73rd percentile

Assets

Up

$23,240,101

Up $674,786 (+3.0%) from 2013

Net Assets

Up

$2,436,545

Up $65,810 (+2.8%) from 2013

Liabilities

Up

$20,803,556

Up $608,976 (+3.0%) from 2013

Revenue And Expenses
Liabilities / Revenue49th percentileNet Margin52nd percentile

Revenue

Up

$1,061,291

Up $164,241 (+18%) from 2013

Expenses

Up

$995,631

Up $110,508 (+12%) from 2013

Net Income

Up

$65,660

Up $53,733 (+451%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth62nd percentile

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

$40M$30M$20M$10M$0Assets 2010: $25,433,112Liabilities 2010: $22,833,332Net Assets 2010: $2,599,7802010Assets 2011: $25,039,676Liabilities 2011: $22,479,019Net Assets 2011: $2,560,6572011Assets 2012: $23,347,825Liabilities 2012: $20,989,017Net Assets 2012: $2,358,8082012Assets 2013: $22,565,315Liabilities 2013: $20,194,580Net Assets 2013: $2,370,7352013Assets 2014: $23,240,101Liabilities 2014: $20,803,556Net Assets 2014: $2,436,5452014Assets 2015: $24,991,740Liabilities 2015: $22,409,724Net Assets 2015: $2,582,0162015Assets 2016: $25,955,791Liabilities 2016: $23,205,256Net Assets 2016: $2,750,5352016Assets 2017: $26,791,474Liabilities 2017: $23,794,654Net Assets 2017: $2,996,8202017Assets 2018: $26,315,265Liabilities 2018: $22,960,758Net Assets 2018: $3,354,5072018Assets 2019: $28,279,291Liabilities 2019: $24,835,742Net Assets 2019: $3,443,5492019Assets 2020: $32,533,635Liabilities 2020: $29,099,688Net Assets 2020: $3,433,9472020Assets 2021: $35,316,623Liabilities 2021: $31,587,987Net Assets 2021: $3,728,6362021Assets 2022: $38,076,733Liabilities 2022: $34,164,489Net Assets 2022: $3,912,2442022Assets 2024: $38,478,124Liabilities 2024: $34,465,967Net Assets 2024: $4,012,1572024

Highlighted filing

2014

Assets$23,240,101
Liabilities$20,803,556
Net Assets$2,436,545
Open 2014 Filing

Operations Trend

Revenue Growth97th percentile

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

$3.0M$2.0M$1.0M$0Expenses 2010: $1,163,7352010Expenses 2011: $1,083,0102011Expenses 2012: $1,115,3392012Revenue 2013: $897,050Expenses 2013: $885,123Net Income 2013: $11,9272013Revenue 2014: $1,061,291Expenses 2014: $995,631Net Income 2014: $65,6602014Revenue 2015: $1,360,703Expenses 2015: $1,215,231Net Income 2015: $145,4722015Revenue 2016: $1,470,690Expenses 2016: $1,302,171Net Income 2016: $168,5192016Revenue 2017: $1,491,398Expenses 2017: $1,313,464Net Income 2017: $177,9342017Revenue 2018: $1,811,797Expenses 2018: $1,458,595Net Income 2018: $353,2022018Revenue 2019: $1,647,927Expenses 2019: $1,558,885Net Income 2019: $89,0422019Revenue 2020: $1,668,303Expenses 2020: $1,483,827Net Income 2020: $184,4762020Revenue 2021: $1,834,209Expenses 2021: $1,584,158Net Income 2021: $250,0512021Revenue 2022: $1,872,703Expenses 2022: $1,689,095Net Income 2022: $183,6082022Revenue 2024: $2,513,471Expenses 2024: $2,440,474Net Income 2024: $72,9972024

Highlighted filing

2014

Revenue$1,061,291
Expenses$995,631
Net Income$65,660
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Jun 19, 2015
Return Version
2014v5.0
Gross Receipts
$1,138,331
Mission and Program Overview

Mission

Illinois state chartered credit union operated for the mutual benefit of its over 3,400 members. The credit union makes loans to members and pays dividends to members with share deposits at a competitive rate of interest.

Illinois state chartered credit union operated for the mutual benefit of its members

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$9,328,655$12,332,253▲ $3,003,598
Investments in Publicly Traded Securities$9,853,307$8,742,167▼ $1,111,140
Rtn Earn Endowment Incm Other Fnds$2,370,735$2,436,545▲ $65,810
Cash and Non-Interest-Bearing Accounts$432,300$784,413▲ $352,113
Savings and Temporary Cash Investments$2,157,585$594,370▼ $1,563,215
Land, Buildings, and Equipment, Net$488,187$491,799▲ $3,612
Investments Other Securities$206,196$197,522▼ $8,674
Prepaid Expenses and Deferred Charges$49,996$40,207▼ $9,789
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$22,565,315$23,240,101▲ $674,786
Other Assets Total$49,089$57,370▲ $8,281
Liabilities
Other Liabilities$20,115,379$20,694,088▲ $578,709
Accounts Payable and Accrued Expenses$79,201$109,468▲ $30,267
Total Liabilities$20,194,580$20,803,556▲ $608,976
Net Assets / Fund Balance
Total Net Assets Fund Balance$2,370,735$2,436,545▲ $65,810
Total Liabilities and Net Assets / Fund Balance$22,565,315$23,240,101▲ $674,786

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$296,054$558,348$854,402
Equipment$78,205$301,941$380,146
Land$117,540-$117,540
Compensation and Service Providers
Top Officer Pay69th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Joseph FrederickTreasurerFT$71,078$13,399$84,477

Board Members and Trustees

NameTitle
Linda Bertrand-BurtChairperson
Polly RagazinckyVice Chairperson
Chris RomagnoliBoard Member
Debbie FeeneyBoard Member
Kimberly HappBoard Member
Sue SnellBoard Member
Steve PianoSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$981,947
Investment Income
$79,344
Other Revenue
$0
Change in Net Assets
$65,660
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$646,972
Salaries, Compensation, and Employee Benefits$348,659
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$208,215
Fees for Services Other---$123,828
Information Technology---$96,652
Current Officers, Directors, Trustees, and Key Employees---$84,477
Office Expenses---$81,322
Occupancy---$53,434
Depreciation Depletion---$38,678
Fees for Services Accounting---$22,678
Payroll Taxes---$22,147
Pension Plan Contributions---$18,978
Other Expenses---$17,158
Other Employee Benefits---$14,842
Advertising---$13,443
Insurance---$12,975
All Other Expenses---$10,787
Fees for Service Investment Mgmnt Fees---$2,765
Travel---$1,805
Interest---$1,469
Fees for Services Legal---$13
Total Functional Expenses$0$0$0$995,631
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
Share balances$20,694,088
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 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
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 Organization's membership consists of individuals with funds on deposit with the credit union.”

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

“The membership participates in the annual election of the Board of Directors at the annual membership meeting.”

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

“Member approval is required for a merger with another credit union.”

Form 990, Part VI, Section B, line 11

“The Form 990 was shared with the Board of Directors via email prior to filing. It was further reviewed at the monthly meeting of the Board of Directors.”

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

“Potential conflicts are discussed at monthly Board of Director meetings.”

Form 990, Part VI, Section C, line 19

“Financial statements are posted monthly in both offices and additional items are available to members and others upon request.”

Filing and Contact Details

Filer

Filer Name
Illinois Valley Credit Union
EIN
36-2334042
Phone
8152242666
Address
2107 Marquette Road, Peru, IL 61354-0017

Signing Officer

Name
Linda Kreiser
Title
Vice President
Phone
8152242666
Signed
2015-06-19
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joseph Frederick
Formed
1955
Legal Domicile
Il
Voting Board Members
8
Independent Board Members
7
Employees
9
Volunteers
7

Preparer

Firm
Desmond & Ahern Ltd
Address
10827 S Western Avenue, Chicago, IL 60643
Preparer
Hugh J Ahern CPA
Phone
7737794720
Supplemental Narrative

Additional Explanations

Form 990, Page 3, #12-Audited Financial Statements

“The Credit Union's statement of financial condition and the related statements of income, members' equity, and cash flows were audited for the year ended September 30, 2014 in accordance with audit standards generally accepted in the United States.”

Form 990, Part IX, line 11G

“Mailing service 5,588. Miscellaneous outside service 11,203. Operating service fees 107,037.”

Raw XML Appendix362 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.

Path#Value
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IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0897050
IRS990/ReconcilationRevenueExpnssAmt065660
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt02370735
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt02436545
IRS990/SavingsAndTempCashInvstGrp/BOYAmt02157585
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0594370
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt0296054
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0558348
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0854402
IRS990ScheduleD/EquipmentGrp/BookValueAmt078205
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0301941
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0380146
IRS990ScheduleD/LandGrp/BookValueAmt0117540
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0117540
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt020694088
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Share balances
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0491799
IRS990ScheduleD/TotalLiabilityAmt020694088
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Credit Union's statement of financial condition and the related statements of income, members' equity, and cash flows were audited for the year ended September 30, 2014 in accordance with audit standards generally accepted in the United States.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The Organization's membership consists of individuals with funds on deposit with the credit union.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The membership participates in the annual election of the Board of Directors at the annual membership meeting.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Member approval is required for a merger with another credit union.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The Form 990 was shared with the Board of Directors via email prior to filing. It was further reviewed at the monthly meeting of the Board of Directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Potential conflicts are discussed at monthly Board of Director meetings.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Financial statements are posted monthly in both offices and additional items are available to members and others upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7Mailing service 5,588. Miscellaneous outside service 11,203. Operating service fees 107,037.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Page 3, #12-Audited Financial Statements
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section A, line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section A, line 7b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section B, line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Form 990, Part IX, line 11g
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt022565315
IRS990/TotalAssetsEOYAmt023240101
IRS990/TotalAssetsGrp/BOYAmt022565315
IRS990/TotalAssetsGrp/EOYAmt023240101
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt09
IRS990/TotalFunctionalExpensesGrp/TotalAmt0995631
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt020194580
IRS990/TotalLiabilitiesEOYAmt020803556
IRS990/TotalLiabilitiesGrp/BOYAmt020194580
IRS990/TotalLiabilitiesGrp/EOYAmt020803556
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02370735
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02436545
IRS990/TotalOtherCompensationAmt013399
IRS990/TotalProgramServiceRevenueAmt0981947
IRS990/TotalReportableCompFromOrgAmt071078
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01061291
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01061291
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt07
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt022565315
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt023240101
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/TotalAmt01805
IRS990/TypeOfOrganizationOtherInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02107 Marquette Road
IRS990/USAddress/CityNm0Peru
IRS990/USAddress/StateAbbreviationCd0IL
IRS990/USAddress/ZIPCd0613540017
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0ivcu.com
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02016-04-25 22:37:26Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0Linda Kreiser
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Vice President
ReturnHeader/BusinessOfficerGrp/PhoneNum08152242666
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-06-19
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Illinois Valley Credit Union
ReturnHeader/Filer/BusinessNameControlTxt0ILLI
ReturnHeader/Filer/EIN0362334042
ReturnHeader/Filer/PhoneNum08152242666
ReturnHeader/Filer/USAddress/AddressLine1Txt02107 Marquette Road
ReturnHeader/Filer/USAddress/CityNm0Peru
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IL
ReturnHeader/Filer/USAddress/ZIPCd0613540017
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0363321958
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Desmond & Ahern Ltd
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt010827 S Western Avenue
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Chicago
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd060643
ReturnHeader/PreparerPersonGrp/PhoneNum07737794720
ReturnHeader/PreparerPersonGrp/PreparationDt02015-06-19
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Hugh J Ahern CPA
ReturnHeader/ReturnTs02015-06-19T10:18:36-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-01-01
ReturnHeader/TaxPeriodEndDt02014-12-31
ReturnHeader/TaxYr02014

Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$23,240,101
Liabilities
$20,803,556
Net assets
$2,436,545
Revenue
$1,061,291
Expenses
$995,631
Net income
$65,660
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$38.5$34.5$4.01$2.51$2.44$0.07
2022Detailed filing. Detailed filing data is available for this year.$38.1$34.2$3.91$1.87$1.69$0.18
2021Detailed filing. Detailed filing data is available for this year.$35.3$31.6$3.73$1.83$1.58$0.25
2020Detailed filing. Detailed filing data is available for this year.$32.5$29.1$3.43$1.67$1.48$0.18
2019Detailed filing. Detailed filing data is available for this year.$28.3$24.8$3.44$1.65$1.56$0.09
2018Detailed filing. Detailed filing data is available for this year.$26.3$23.0$3.35$1.81$1.46$0.35
2017Detailed filing. Detailed filing data is available for this year.$26.8$23.8$3.00$1.49$1.31$0.18
2016Detailed filing. Detailed filing data is available for this year.$26.0$23.2$2.75$1.47$1.30$0.17
2015Detailed filing. Detailed filing data is available for this year.$25.0$22.4$2.58$1.36$1.22$0.15
2014Detailed filing. Detailed filing data is available for this year.$23.2$20.8$2.44$1.06$1.00$0.07
2013Detailed filing. Detailed filing data is available for this year.$22.6$20.2$2.37$0.90$0.89$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$23.3$21.0$2.36$1.12
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$25.0$22.5$2.56$1.08
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$25.4$22.8$2.60$1.16