Civic Intelligence

Heights Auto Workers Credit Union

990 • Fiscal year 2023 • EIN 36-2419943

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 12, 2024

Organization Profilewww.hawcu.com

View Organization Page

13912 Torrence AveBurnham, IL 60633

(708) 891-6990

Siviq Scores

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

Liabilities / Assets

11th percentile

0.79x

Higher debt load relative to assets than 11% of similar nonprofits.

2023 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2023

Liabilities / Revenue

16th percentile

13.04x

Higher debt load relative to revenue than 16% of similar nonprofits.

2023 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2023

Net Margin

16th percentile

3.6%

Higher net margin than 16% of similar nonprofits.

2023 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2023

Top Officer Pay

13th percentile

$66,517

Higher top officer pay than 13% of similar nonprofits.

Top officer pay equals 3.7% of source-year revenue.

2023 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2023

Asset Growth

31st percentile

-5.3%

Faster asset growth than 31% of similar nonprofits.

2023 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2022 to 2023

Revenue Growth

1st percentile

-12%

Faster revenue growth than 1% of similar nonprofits.

2023 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets11th percentile

Assets

Down

$29,253,176

Down $1,643,219 (-5.3%) from 2022

Net Assets

Up

$6,082,534

Up $35,361 (+0.6%) from 2022

Liabilities

Down

$23,170,642

Down $1,678,580 (-6.8%) from 2022

Revenue And Expenses
Liabilities / Revenue16th percentileNet Margin16th percentile

Revenue

Down

$1,776,650

Down $236,208 (-12%) from 2022

Expenses

Down

$1,712,929

Down $22,964 (-1.3%) from 2022

Net Income

Down

$63,721

Down $213,244 (-77%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth31st percentile

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

$40M$30M$20M$10M$0Assets 2010: $29,718,431Liabilities 2010: $23,844,649Net Assets 2010: $5,873,7822010Assets 2011: $33,386,981Liabilities 2011: $27,618,045Net Assets 2011: $5,768,9362011Assets 2012: $33,411,308Liabilities 2012: $27,695,605Net Assets 2012: $5,715,7032012Assets 2013: $33,729,431Liabilities 2013: $27,934,710Net Assets 2013: $5,794,7212013Assets 2014: $35,307,951Liabilities 2014: $29,306,053Net Assets 2014: $6,001,8982014Assets 2015: $38,475,357Liabilities 2015: $32,531,832Net Assets 2015: $5,943,5252015Assets 2016: $37,723,204Liabilities 2016: $31,747,498Net Assets 2016: $5,975,7062016Assets 2017: $35,449,894Liabilities 2017: $29,400,490Net Assets 2017: $6,049,4042017Assets 2018: $34,570,345Liabilities 2018: $28,406,621Net Assets 2018: $6,163,7242018Assets 2019: $34,419,063Liabilities 2019: $28,100,107Net Assets 2019: $6,318,9562019Assets 2020: $36,560,000Liabilities 2020: $30,473,307Net Assets 2020: $6,086,6932020Assets 2021: $32,976,227Liabilities 2021: $27,206,019Net Assets 2021: $5,770,2082021Assets 2022: $30,896,395Liabilities 2022: $24,849,222Net Assets 2022: $6,047,1732022Assets 2023: $29,253,176Liabilities 2023: $23,170,642Net Assets 2023: $6,082,5342023Assets 2024: $28,972,158Liabilities 2024: $22,933,011Net Assets 2024: $6,039,1472024

Highlighted filing

2023

Assets$29,253,176
Liabilities$23,170,642
Net Assets$6,082,534
Open 2023 Filing

Operations Trend

Revenue Growth1st percentile

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $1,455,4802010Expenses 2011: $1,379,6952011Expenses 2012: $1,652,9662012Revenue 2013: $1,984,384Expenses 2013: $1,882,325Net Income 2013: $102,0592013Revenue 2014: $2,066,631Expenses 2014: $2,247,650Net Income 2014: -$181,0192014Revenue 2015: $1,800,945Expenses 2015: $1,859,318Net Income 2015: -$58,3732015Revenue 2016: $2,041,642Expenses 2016: $1,936,464Net Income 2016: $105,1782016Revenue 2017: $2,006,371Expenses 2017: $1,932,673Net Income 2017: $73,6982017Revenue 2018: $1,992,040Expenses 2018: $1,877,720Net Income 2018: $114,3202018Revenue 2019: $2,088,736Expenses 2019: $1,933,504Net Income 2019: $155,2322019Revenue 2020: $1,594,842Expenses 2020: $1,827,105Net Income 2020: -$232,2632020Revenue 2021: $1,495,261Expenses 2021: $1,811,746Net Income 2021: -$316,4852021Revenue 2022: $2,012,858Expenses 2022: $1,735,893Net Income 2022: $276,9652022Revenue 2023: $1,776,650Expenses 2023: $1,712,929Net Income 2023: $63,7212023Revenue 2024: $1,893,282Expenses 2024: $1,936,669Net Income 2024: -$43,3872024

Highlighted filing

2023

Revenue$1,776,650
Expenses$1,712,929
Net Income$63,721
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 12, 2024
Return Version
2023v5.1
Gross Receipts
$1,776,650
Mission and Program Overview

Mission

To give members the ability to control their financial destiny by providing members with the means to satisfy their needs for financial services in a comfortable family-like environment. In doing so, the Credit Union strives to maintain long-term relationships with members.

To provide financial services to members that are rate competetive and convenient.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$19,980,000$16,968,000▼ $3,012,000
Other Notes and Loans Receivable, Net$8,817,330$9,503,860▲ $686,530
Rtn Earn Endowment Incm Other Fnds$6,047,173$6,082,534▲ $35,361
Savings and Temporary Cash Investments$694,983$1,290,640▲ $595,657
Cash and Non-Interest-Bearing Accounts$734,576$802,046▲ $67,470
Land, Buildings, and Equipment, Net$165,888$240,550▲ $74,662
Prepaid Expenses and Deferred Charges$166,013$148,465▼ $17,548
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$30,896,395$29,253,176▼ $1,643,219
Other Assets Total$337,605$299,615▼ $37,990
Liabilities
Other Liabilities$24,786,331$23,137,778▼ $1,648,553
Accounts Payable and Accrued Expenses$62,891$32,864▼ $30,027
Total Liabilities$24,849,222$23,170,642▼ $1,678,580
Net Assets / Fund Balance
Total Net Assets Fund Balance$6,047,173$6,082,534▲ $35,361
Total Liabilities and Net Assets / Fund Balance$30,896,395$29,253,176▼ $1,643,219

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$138,423$325,222$463,645
Equipment$9,493$413,013$422,506
Other Land Buildings$33,134$367,229$400,363
Land$59,500-$59,500
Compensation and Service Providers
Top Officer Pay13th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Vicki KaiserManagerFT$61,590$4,927$66,517
Terrie L DustChairman-$32,750$2,620$35,370

Board Members and Trustees

NameTitle
Deanna BibbsMember
John MontellaMember
Michael MarzilloMember
Michael ScalzittiMember
Merrill ClarkSecretary
JC HefnerTreaurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,327,874
Investment Income
$448,776
Other Revenue
$0
Change in Net Assets
$63,721
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,407,342
Salaries, Compensation, and Employee Benefits$305,587
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Information Technology---$177,649
Office Expenses---$163,393
Other Salaries and Wages---$152,314
Occupancy---$104,424
Current Officers, Directors, Trustees, and Key Employees---$94,340
Fees for Services Other---$62,027
Other Expenses---$52,837
Depreciation Depletion---$31,011
Insurance---$27,277
Payroll Taxes---$24,171
Pension Plan Contributions---$20,674
Other Employee Benefits---$14,088
All Other Expenses---$13,307
Fees for Services Accounting---$11,750
Interest---$3,234
Advertising---$3,102
Travel---$1,625
Total Functional Expenses$0$0$0$1,712,929
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
Members' shares and savings accounts$23,137,778
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
No
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

“Membership consists of individuals with funds on deposit with the Credit Union.”

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

“Members of the Credit Union have the authority to elect the Board of Directors at the annual meeting.”

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

“Members vote on various issues at the annual meeting.”

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

“Form 990 was reviewed by the President and Operations Manager then presented to the Board prior to filing.”

Form 990, Part VI, Section B, line 15A

“Compensation is determined by the Executive Committee and reported to the remaining board members.”

Form 990, Part VI, Section C, line 19

“Governing documents and financial statements available upon request.”

Filing and Contact Details

Filer

Filer Name
Heights Auto Workers Credit Union
EIN
36-2419943
Phone
7088916990
Address
13912 Torrence Ave, Burnham, IL 60633

Signing Officer

Name
Vicki Kaiser
Title
Manager
Phone
7088916990
Signed
2024-11-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Vicki Kaiser
Formed
1956
Legal Domicile
Il
Voting Board Members
7
Independent Board Members
6
Employees
9
Volunteers
0

Preparer

Firm
Eifel Rambo Advisory Group Ltd
Address
20635 Abbey Woods Ct, Frankfort, IL 60423
Preparer
Matt Beckley
Phone
7086282365
Supplemental Narrative

Financial Statement Notes

Part X, Line 2:

“FIN 48 note in Audited Financial Statements Heights Auto Workers 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 in 2023 or 2022 that management believes is subject to taxation. The Credit Union's annual information returns filed with the federal and state governemnts are subject to examination for three years after they are filed.”

Raw XML Appendix351 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/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt06082534
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0694983
IRS990/SavingsAndTempCashInvstGrp/EOYAmt01290640
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt0138423
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0325222
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0463645
IRS990ScheduleD/EquipmentGrp/BookValueAmt09493
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0413013
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0422506
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt059500
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt059500
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt033134
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0367229
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0400363
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt023137778
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Members' shares and savings accounts
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0FIN 48 note in Audited Financial Statements Heights Auto Workers 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 in 2023 or 2022 that management believes is subject to taxation. The Credit Union's annual information returns filed with the federal and state governemnts are subject to examination for three years after they are filed.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0240550
IRS990ScheduleD/TotalLiabilityAmt023137778
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Membership consists of individuals with funds on deposit with the Credit Union.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Members of the Credit Union have the authority to elect the Board of Directors at the annual meeting.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Members vote on various issues at the annual meeting.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Form 990 was reviewed by the President and Operations Manager then presented to the Board prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Compensation is determined by the Executive Committee and reported to the remaining board members.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Governing documents and financial statements available upon request.
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 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Section C, line 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt030896395
IRS990/TotalAssetsEOYAmt029253176
IRS990/TotalAssetsGrp/BOYAmt030896395
IRS990/TotalAssetsGrp/EOYAmt029253176
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt09
IRS990/TotalFunctionalExpensesGrp/TotalAmt01712929
IRS990/TotalGrossUBIAmt06200
IRS990/TotalLiabilitiesBOYAmt024849222
IRS990/TotalLiabilitiesEOYAmt023170642
IRS990/TotalLiabilitiesGrp/BOYAmt024849222
IRS990/TotalLiabilitiesGrp/EOYAmt023170642
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt06047173
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt06082534
IRS990/TotalOtherCompensationAmt07547
IRS990/TotalProgramServiceRevenueAmt01327874
IRS990/TotalReportableCompFromOrgAmt094340
IRS990/TotalRevenueGrp/ExclusionAmt0448776
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01321674
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01776650
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt06200
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt030896395
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt029253176
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/TotalAmt01625
IRS990/TypeOfOrganizationOtherInd0X
IRS990/UnrelatedBusIncmOverLimitInd01
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt013912 Torrence Ave
IRS990/USAddress/CityNm0Burnham
IRS990/USAddress/StateAbbreviationCd0IL
IRS990/USAddress/ZIPCd060633
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0www.hawcu.com
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0Vicki Kaiser
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Manager
ReturnHeader/BusinessOfficerGrp/PhoneNum07088916990
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-11-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Heights Auto Workers Credit Union
ReturnHeader/Filer/BusinessNameControlTxt0HEIG
ReturnHeader/Filer/EIN0362419943
ReturnHeader/Filer/PhoneNum07088916990
ReturnHeader/Filer/USAddress/AddressLine1Txt013912 Torrence Ave
ReturnHeader/Filer/USAddress/CityNm0Burnham
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IL
ReturnHeader/Filer/USAddress/ZIPCd060633
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0931743146
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Eifel Rambo Advisory Group Ltd
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt020635 Abbey Woods Ct
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Frankfort
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd060423
ReturnHeader/PreparerPersonGrp/PhoneNum07086282365
ReturnHeader/PreparerPersonGrp/PreparationDt02024-11-11
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Matt Beckley
ReturnHeader/ReturnTs02024-11-15T10:02:43-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$29,253,176
Liabilities
$23,170,642
Net assets
$6,082,534
Revenue
$1,776,650
Expenses
$1,712,929
Net income
$63,721
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$29.0$22.9$6.04$1.89$1.94$0.04
2023Detailed filing. Detailed filing data is available for this year.$29.3$23.2$6.08$1.78$1.71$0.06
2022Detailed filing. Detailed filing data is available for this year.$30.9$24.8$6.05$2.01$1.74$0.28
2021Detailed filing. Detailed filing data is available for this year.$33.0$27.2$5.77$1.50$1.81$0.32
2020Detailed filing. Detailed filing data is available for this year.$36.6$30.5$6.09$1.59$1.83$0.23
2019Detailed filing. Detailed filing data is available for this year.$34.4$28.1$6.32$2.09$1.93$0.16
2018Detailed filing. Detailed filing data is available for this year.$34.6$28.4$6.16$1.99$1.88$0.11
2017Detailed filing. Detailed filing data is available for this year.$35.4$29.4$6.05$2.01$1.93$0.07
2016Detailed filing. Detailed filing data is available for this year.$37.7$31.7$5.98$2.04$1.94$0.11
2015Detailed filing. Detailed filing data is available for this year.$38.5$32.5$5.94$1.80$1.86$0.06
2014Detailed filing. Detailed filing data is available for this year.$35.3$29.3$6.00$2.07$2.25$0.18
2013Detailed filing. Detailed filing data is available for this year.$33.7$27.9$5.79$1.98$1.88$0.10
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$33.4$27.7$5.72$1.65
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$33.4$27.6$5.77$1.38
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$29.7$23.8$5.87$1.46