Skip to content
Nonprofiteer
← SOURCEONE CREDIT UNION

Form 990 for tax year 2022

Filed by SOURCEONE CREDIT UNION.

Totals

Total revenue
$119,942
Total expenses
$420,579
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$57,399
Investment income
$35,841
Other revenue
$26,702
Total assets, end of year
$0
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$0
Program services expenses (Part IX)
$420,579
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

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: INTEREST ON LOANS

    total $48,946 · related or exempt $48,946

  • 2b · Program service revenue: FEE INCOME

    total $8,453 · related or exempt $8,453

  • 4 · Income from investment of tax-exempt bond proceeds

    total $35,841 · related or exempt $35,841

  • 11a · Other revenue: OTHER NON-OPERATING IN

    total $26,702 · related or exempt $26,702

  • 11e · Other revenue, total

    $26,702

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $37,350 · program services $37,350

  • 7 · Other salaries and wages

    total $226,951 · program services $226,951

  • 9 · Other employee benefits

    total $9,517 · program services $9,517

  • 12 · Advertising and promotion

    total $106 · program services $106

  • 13 · Office expenses

    total $109,901 · program services $109,901

  • 17 · Travel

    total $148 · program services $148

  • 23 · Insurance

    total $7,074 · program services $7,074

  • 24a · Other expenses: CREDIT CARD EXPENSE

    total $8,258 · program services $8,258

  • 24b · Other expenses: OPERATING FEES

    total $6,364 · program services $6,364

  • 24c · Other expenses: MISC

    total $5,921 · program services $5,921

  • 24d · Other expenses: DIVIDEND TO MEMBERS

    total $4,341 · program services $4,341

  • 24e · All other expenses

    total $4,648 · program services $4,648

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $292,728 · end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $52,306 · end of year $0

  • 3 · Pledges and grants receivable

    end of year $0

  • 4 · Accounts receivable

    end of year $0

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $1,775,320 · end of year $0

  • 8 · Inventories for sale or use

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,835 · end of year $0

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

    $0

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $9,256,000 · end of year $0

  • 12 · Investments: other securities

    beginning of year $2,000 · end of year $0

  • 13 · Investments: program-related

    end of year $0

  • 14 · Intangible assets

    end of year $0

  • 15 · Other assets

    beginning of year $110,831 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,077 · end of year $0

  • 25 · Other liabilities

    beginning of year $10,038,135 · end of year $0

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $1,449,808 · end of year $0

Mission and programs · 2022

Mission

ILLINOIS STATE CHARTERED CREDIT UNION OPERATED FOR THE MUTUAL BENEFIT OF ITS MEMBERS. THE CREDIT UNION MAKES LOANS TO MEMBERS AND PAYS DIVIDENDS TO MEMBERS WITH SHARE DEPOSITS AT A COMPETITIVE RATE OF INTEREST.

  • CREDIT UNION MAKES AND SERVICES CONSUMER AND REAL ESTATE LOANS TO MEMBERS.

  • CREDIT UNION PAYS OUT DIVIDENDS TO ITS MEMBERS ON A SHARE DEPOSIT ACCOUNTS AT A RATE OF INTEREST.

As filed on the 2022 return.

Listed in Part VII

  • Adrienne Dempsey

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    3

  • Joshua Beyne

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Michael Cogozzo

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Gregory Mack

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Joan Jeske

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Diane Kerrill

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Tim White

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ken Iversen

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dave Cogozzo

    PRESIDENT/TREASURER

    Total calculated
    $37,350
    From this org
    $37,350
    From related orgs
    $0
    Other
    $0
    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.

Grants on this return

No itemized grants to organizations on this return.

Assets distributed on this return

Schedule N, as filed: what the organization did with its assets when it liquidated or dissolved, or disposed of more than a quarter of them, and who received them. A recipient with an EIN is usually a successor organization; filers also list expenses such as legal fees here.

  • CREDIT UNION 1

    $1,149,171

    Liquidation · CREDIT UNION 1 ACQUIRED SOURCEONE CREDIT UNION ON 5/31/2022 VIA A MERGER. · May 31, 2022 · 501(C)(14)

Provenance

Return type
form_990
Tax year
2022
Filed
5 April 2023
IRS schema version
2022v5.0
Source object
202301079349301950

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.