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Nonprofiteer
← VIRGINIA CREDIT UNION LEAGUE INC

Form 990 for tax year 2023

Filed by VIRGINIA CREDIT UNION LEAGUE INC.

Totals

Total revenue
$2,161,730
Total expenses
$1,572,890
Contributions and grants received
$0
Grants paid
$747
Program service revenue
$1,874,958
Investment income
$89,170
Other revenue
$197,602
Total assets, end of year
$13,662,695
Total liabilities, end of year
$3,546,251
Net assets or fund balances, end of year
$10,116,444
Program services expenses (Part IX)
$1,572,890
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$1,572,890

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: MEMBERSHIP DUES

    total $1,864,973 · related or exempt $1,864,973

  • 2b · Program service revenue: DINNERS & MEETINGS

    total $9,985 · related or exempt $9,985

  • 3 · Investment income

    total $83,170 · excluded $83,170

  • 6a · Gross rents

    real property $78,395

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $78,395

  • 6d · Net rental income or loss

    total $78,395 · excluded $78,395

  • 7a · Gross sales of assets other than inventory

    securities $6,000

  • 7b · Less cost or other basis and sales expenses

    securities $0

  • 7c · Gain or loss

    securities $6,000

  • 7d · Net gain or loss

    total $6,000 · related or exempt $6,000

  • 8a · Fundraising events: gross income

    $11,314

  • 8b · Fundraising events: direct expenses

    $8,247

  • 8c · Net income from fundraising events

    total $3,067 · excluded $3,067

  • 11a · Other revenue: MISCELLANOUS

    total $116,140 · related or exempt $116,140

  • 11e · Other revenue, total

    $116,140

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $747 · program services $747

  • 5 · Compensation of officers, directors and key employees

    total $301,888 · program services $301,888

  • 7 · Other salaries and wages

    total $978,553 · program services $978,553

  • 8 · Pension plan contributions

    total $110,792 · program services $110,792

  • 9 · Other employee benefits

    total $255,895 · program services $255,895

  • 10 · Payroll taxes

    total $74,886 · program services $74,886

  • 11b · Fees: legal

    total $412,581 · program services $412,581

  • 11c · Fees: accounting

    total $16,670 · program services $16,670

  • 13 · Office expenses

    total $47,405 · program services $47,405

  • 16 · Occupancy

    total $112,053 · program services $112,053

  • 17 · Travel

    total $50,066 · program services $50,066

  • 19 · Conferences, conventions and meetings

    total $49,185 · program services $49,185

  • 22 · Depreciation, depletion and amortization

    total $88,281 · program services $88,281

  • 23 · Insurance

    total $19,267 · program services $19,267

  • 24a · Other expenses: MARKETING

    total $59,394 · program services $59,394

  • 24b · Other expenses: DUES & SUBSCRIPTIONS

    total $45,947 · program services $45,947

  • 24c · Other expenses: MISCELLANEOUS

    total $21,226 · program services $21,226

  • 24d · Other expenses: OVERHEAD ALLOCATION

    total -$1,071,946 · program services -$1,071,946

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,936,340 · end of year $4,606,800

  • 3 · Pledges and grants receivable

    beginning of year $25,677 · end of year $13,808

  • 4 · Accounts receivable

    beginning of year $2,589,002 · end of year $2,113,395

  • 9 · Prepaid expenses and deferred charges

    beginning of year $86,976 · end of year $84,782

  • 10a · Land, buildings and equipment: cost or other basis

    $4,433,004

  • 10b · Land, buildings and equipment: accumulated depreciation

    $1,163,752

  • 10c · Land, buildings and equipment, net

    beginning of year $3,345,846 · end of year $3,269,252

  • 11 · Investments: publicly traded securities

    end of year $517,915

  • 15 · Other assets

    beginning of year $3,246,546 · end of year $3,056,743

  • 17 · Accounts payable and accrued expenses

    beginning of year $73,574 · end of year $219,760

  • 19 · Deferred revenue

    beginning of year $3,298,713 · end of year $3,099,612

  • 25 · Other liabilities

    beginning of year $161,416 · end of year $226,879

  • 27 · Net assets without donor restrictions

    beginning of year $9,529,048 · end of year $9,888,884

  • 28 · Net assets with donor restrictions

    beginning of year $167,636 · end of year $227,560

Mission and programs · 2023

Mission

OUR MISSION INCLUDES REGULATORY AND POLITICAL ADVOCACY FOR CREDIT UNIONS, EDUCATION AND TRAINING CREDIT UNION STAFF AND VOLUNTEERS, PLUS A WIDE RANGE OF INFORMATIONAL AND OPERATIONAL RESOURCES.

Activities or mission (Part I)

OUR MISSION INCLUDES REGULATORY AND POLITICAL ADVOCACY FOR CREDIT UNIONS, EDUCATION AND TRAINING

  • OUR SERVICES INCLUDE STATE CREDIT UNION ACTIVITIES SUCH AS REGULATORY AND POLITICAL ADVOCACY, AND A WIDE RANGE OF INFORMATIONAL AND OPERATIONAL RESOURCES.

    Expenses $1,572,890

As filed on the 2023 return.

Listed in Part VII

  • Joe Thomas

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Jeff Bentley

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Paul Muse

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Janine Williams

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Michael Huff

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Debra Vollmer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Bruce Six

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mike Warrell

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Chris Williams

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Carrie Hunt

    PRESIDENT

    Total calculated
    $416,925
    From this org
    $183,032
    From related orgs
    $183,032
    Other
    $50,861
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $183,032 + $183,032 related
    Bonus
    $0
    Other
    $0
    Deferred
    $35,066
    Nontaxable benefits
    $15,795
    Filer's total
    $233,893 + $183,032 related

  • James T Blau

    CHIEF ADVOCACY OFFICER

    Total calculated
    $214,745
    From this org
    $92,656
    From related orgs
    $92,656
    Other
    $29,433
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $92,656 + $92,656 related
    Bonus
    $0
    Other
    $0
    Deferred
    $18,540
    Nontaxable benefits
    $10,893
    Filer's total
    $122,089 + $92,656 related

  • David Deacon

    VICE PRESIDENT

    Total calculated
    $135,945
    From this org
    $0
    From related orgs
    $104,809
    Other
    $31,136
    Hours/week
    40

  • Karima Freeman

    INTERIM PRESIDENT

    Total calculated
    $136,211
    From this org
    $26,200
    From related orgs
    $78,599
    Other
    $31,412
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • VIRGINIA CREDIT UNION SERVICES INC

    C · ENDORSEMENTS OF SERVICES · VA · 100% owned · share of income -$185,903

    Directly controlled by VIRGINIA CREDIT UNION LEAGUE

Provenance

Return type
form_990
Tax year
2023
Filed
19 June 2024
IRS schema version
2023v5.1
Source object
202421779349300942

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