Civic Intelligence

Chicago Central Commerce Credit Union

990 • Fiscal year 2021 • EIN 42-0326940

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 14, 2022

1005 E 4th StWaterloo, IA 50703-3932

(319) 232-0808

Siviq Scores

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

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on this filing.

Source year 2021

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2021

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on this filing.

Source year 2021

Top Officer Pay

78th percentile

$0

Higher top officer pay than 78% of similar nonprofits.

2021 filings • <$500k nonprofits • Source year 2021

Asset Growth

2nd percentile

-100%

Faster asset growth than 2% of similar nonprofits.

2021 filings • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

2nd percentile

-100%

Faster revenue growth than 2% of similar nonprofits.

2021 filings • <$500k nonprofits • Annualized from 2020 to 2021

Assets

Down

$0

Down $7,242,942 (-100%) from 2020

Net Assets

Down

$0

Down $1,451,787 (-100%) from 2020

Liabilities

Down

$0

Down $5,791,155 (-100%) from 2020

Revenue

Down

$0

Down $325,808 (-100%) from 2020

Expenses

Down

$42,488

Down $283,320 (-87%) from 2020

Net Income

Down

-$42,488

Down $42,488 from 2020

Historical Trend

Balance Sheet Trend

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2010: $7,529,327Liabilities 2010: $6,216,256Net Assets 2010: $1,313,0712010Assets 2012: $7,009,763Liabilities 2012: $5,677,162Net Assets 2012: $1,332,6012012Assets 2013: $7,156,939Liabilities 2013: $5,800,266Net Assets 2013: $1,356,6732013Assets 2014: $7,427,960Liabilities 2014: $6,046,316Net Assets 2014: $1,381,6442014Assets 2015: $7,045,206Liabilities 2015: $5,629,658Net Assets 2015: $1,415,5482015Assets 2016: $6,532,766Liabilities 2016: $5,097,959Net Assets 2016: $1,434,8072016Assets 2017: $6,855,905Liabilities 2017: $5,408,646Net Assets 2017: $1,447,2592017Assets 2018: $6,742,320Liabilities 2018: $5,290,533Net Assets 2018: $1,451,7872018Assets 2019: $6,646,022Liabilities 2019: $5,194,235Net Assets 2019: $1,451,7872019Assets 2020: $7,242,942Liabilities 2020: $5,791,155Net Assets 2020: $1,451,7872020Assets 2021: $0Liabilities 2021: $0Net Assets 2021: $02021

Highlighted filing

2021

Assets$0
Liabilities$0
Net Assets$0

Operations Trend

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

$400K$200K$0-$200KExpenses 2010: $398,1082010Expenses 2012: $310,7372012Revenue 2013: $300,042Expenses 2013: $275,970Net Income 2013: $24,0722013Revenue 2014: $310,372Expenses 2014: $290,819Net Income 2014: $19,5532014Revenue 2015: $358,185Expenses 2015: $324,281Net Income 2015: $33,9042015Revenue 2016: $297,707Expenses 2016: $278,448Net Income 2016: $19,2592016Revenue 2017: $301,734Expenses 2017: $289,282Net Income 2017: $12,4522017Revenue 2018: $327,508Expenses 2018: $322,980Net Income 2018: $4,5282018Revenue 2019: $345,646Expenses 2019: $345,646Net Income 2019: $02019Revenue 2020: $325,808Expenses 2020: $325,808Net Income 2020: $02020Revenue 2021: $0Expenses 2021: $42,488Net Income 2021: -$42,4882021

Highlighted filing

2021

Revenue$0
Expenses$42,488
Net Income-$42,488
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 14, 2022
Return Version
2021v4.0
Gross Receipts
$0
Mission and Program Overview

Mission

Credit unions create a source of credit at a fair and reasonable rate of interest, encourage habits of thrift among their members, and provide an opportunity for their members to use and control their own money on a democratic basis in order to improve their economic and social condition.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$4,288,785--
Other Notes and Loans Receivable, Net$2,097,546--
Pd in Cap Srpls Land Bldg Eqp Fund$1,028,661--
Cash and Non-Interest-Bearing Accounts$819,581--
Rtn Earn Endowment Incm Other Fnds$423,126--
Land, Buildings, and Equipment, Net$37,030--
Total Assets$7,242,942$0▼ $7,242,942
Liabilities
Other Liabilities$5,787,995--
Accounts Payable and Accrued Expenses$3,160--
Total Liabilities$5,791,155$0▼ $5,791,155
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,451,787$0▼ $1,451,787
Total Liabilities and Net Assets / Fund Balance$7,242,942$0▼ $7,242,942
Compensation and Service Providers

Board Members and Trustees

NameTitle
Morgan KuperChairman
John HildebrandChairperson
Nedra Sue AlbrightChairperson
Wayne PurkPresident
Scott AbelsVice Chairpe
Mahlon SmithCommittee Ch
Shinita CrawleySecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-42,488
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$41,664
Other Expenses$824
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$38,703--$38,703
Payroll Taxes$2,961--$2,961
Depreciation Depletion$824--$824
Total Functional Expenses$42,488$0$0$42,488
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
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 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
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, Page 6, Part VI, Line 6

Organized with members of stockholders

Form 990, Page 6, Part VI, Line 7A

At each annual meeting, members have one vote. At each annual meeting, one member shall be elected to fill each board of director position vacated by reason of an expiring term or other cause.

Form 990, Page 6, Part VI, Line 7B

The majority of members present at any meeting may vote to modify, amend or reverse any act of the board of directors or instruct the boaard to take action not inconsistent with the articles, bylaws, or the iowa code. In order to be binding upon the board of directors, any action requires an affirmative vote of a majority of eligible members.

Form 990, Page 6, Part VI, Line 10B

NO

Form 990, Page 6, Part VI, Line 11B

The form 990 is reviewed by board members following completion.

Form 990, Page 6, Part VI, Line 12C

The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request. Financial statements are also posted in the main office of the credit union.

Form 990, Page 6, Part VI, Line 15A

Board approves compensation

Form 990, Page 6, Part VI, Line 15B

Board approves compensation

Form 990, Page 6, Part VI, Line 19

At the board meeting following the completed return date.

Filing and Contact Details

Filer

Filer Name
Chicago Central Commerce
EIN
42-0326940
Address
1005 E 4TH ST, WATERLOO, IA 50703-3932

Signing Officer

Name
Chad Kaeppel
Title
Manager/CEO
Signed
2022-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Chad Kaeppel
Formed
1934
Legal Domicile
Ia
Voting Board Members
8
Independent Board Members
8
Employees
7

Preparer

Firm
Cory Warmuth CPA Pc
Address
1315 KNOLL AVENUE, WATERLOO, IA 50701
Preparer
Cory Warmuth CPA
Phone
3192346559
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

Credit unions create a source of credit at a fair and reasonable rate of interest, encourage habits of thrift among their members, and provide an opportunity for their members to use and control their own money on a democratic basis in order to improve their economic and social condition.

Form 990, Page 2, Part III, Line 4D

Credit unions create a source of credit at a fair and reasonable rate of interest, encourage habits of thrift among their members, and provide an opportunity for their members to use and control their own money on a democratic basis in order to improve their economic and social condition.

Form 990, Part XI, Line 9

DISSOLUTION -1,409,299

Raw XML Appendix286 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0CREDIT UNIONS CREATE A SOURCE OF CREDIT AT A FAIR AND REASONABLE RATE OF INTEREST, ENCOURAGE HABITS OF THRIFT AMONG THEIR MEMBERS, AND PROVIDE AN OPPORTUNITY FOR THEIR MEMBERS TO USE AND CONTROL THEIR OWN MONEY ON A DEMOCRATIC BASIS IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1CREDIT UNIONS CREATE A SOURCE OF CREDIT AT A FAIR AND REASONABLE RATE OF INTEREST, ENCOURAGE HABITS OF THRIFT AMONG THEIR MEMBERS, AND PROVIDE AN OPPORTUNITY FOR THEIR MEMBERS TO USE AND CONTROL THEIR OWN MONEY ON A DEMOCRATIC BASIS IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ORGANIZED WITH MEMBERS OF STOCKHOLDERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3AT EACH ANNUAL MEETING, MEMBERS HAVE ONE VOTE. AT EACH ANNUAL MEETING, ONE MEMBER SHALL BE ELECTED TO FILL EACH BOARD OF DIRECTOR POSITION VACATED BY REASON OF AN EXPIRING TERM OR OTHER CAUSE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE MAJORITY OF MEMBERS PRESENT AT ANY MEETING MAY VOTE TO MODIFY, AMEND OR REVERSE ANY ACT OF THE BOARD OF DIRECTORS OR INSTRUCT THE BOAARD TO TAKE ACTION NOT INCONSISTENT WITH THE ARTICLES, BYLAWS, OR THE IOWA CODE. IN ORDER TO BE BINDING UPON THE BOARD OF DIRECTORS, ANY ACTION REQUIRES AN AFFIRMATIVE VOTE OF A MAJORITY OF ELIGIBLE MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5NO
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE FORM 990 IS REVIEWED BY BOARD MEMBERS FOLLOWING COMPLETION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FINANCIAL STATEMENTS ARE ALSO POSTED IN THE MAIN OFFICE OF THE CREDIT UNION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8BOARD APPROVES COMPENSATION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9BOARD APPROVES COMPENSATION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt10AT THE BOARD MEETING FOLLOWING THE COMPLETED RETURN DATE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt11DISSOLUTION -1,409,299
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 10B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc10FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc11FORM 990, PART XI, LINE 9
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IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0123 W 4TH ST
IRS990/USAddress/CityNm0CEDAR FALLS
IRS990/USAddress/StateAbbreviationCd0IA
IRS990/USAddress/ZIPCd050613
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0CHAD KAEPPEL
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0MANAGER/CEO
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-11-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CHICAGO CENTRAL COMMERCE
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0CHIC
ReturnHeader/Filer/EIN0420326940
ReturnHeader/Filer/USAddress/AddressLine1Txt01005 E 4TH ST
ReturnHeader/Filer/USAddress/CityNm0WATERLOO
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IA
ReturnHeader/Filer/USAddress/ZIPCd0507033932
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0461136044
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CORY WARMUTH CPA PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01315 KNOLL AVENUE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WATERLOO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd050701
ReturnHeader/PreparerPersonGrp/PhoneNum03192346559
ReturnHeader/PreparerPersonGrp/PreparationDt02022-11-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CORY WARMUTH CPA
ReturnHeader/ReturnTs02022-11-15T22:07:56-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0CHAD
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0KAEPPEL
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

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