Totals
- Total revenue
- $5,170,504
- Total expenses
- $5,261,200
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $3,127,977
- Investment income
- $2,042,527
- Other revenue
- $0
- Total assets, end of year
- $88,158,406
- Total liabilities, end of year
- $2,241,060
- Net assets or fund balances, end of year
- $85,917,346
- Program services expenses (Part IX)
- not reported
- Management and general expenses
- not reported
- Fundraising expenses
- not reported
- Program service expenses (Part III)
- not reported
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: PROGRAM SVC FEES
total $1,366,909 · related or exempt $1,366,909
-
2b · Program service revenue: EDUCATION
total $1,191,603 · related or exempt $1,191,603
-
2c · Program service revenue: MEMBERSHIP DUES
total $569,465 · related or exempt $569,465
-
3 · Investment income
total $808,976 · excluded $808,976
-
7a · Gross sales of assets other than inventory
securities $4,032,807
-
7b · Less cost or other basis and sales expenses
securities $2,799,256
-
7c · Gain or loss
securities $1,233,551
-
7d · Net gain or loss
total $1,233,551 · excluded $1,233,551
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $769,419
-
7 · Other salaries and wages
total $1,261,235
-
8 · Pension plan contributions
total $62,943
-
9 · Other employee benefits
total $217,925
-
10 · Payroll taxes
total $133,283
-
11b · Fees: legal
total $15,956
-
11c · Fees: accounting
total $40,895
-
11f · Fees: investment management
total $14,641
-
11g · Fees: other
total $470,747
-
12 · Advertising and promotion
total $58,589
-
13 · Office expenses
total $82,854
-
14 · Information technology
total $11,722
-
16 · Occupancy
total $11,343
-
17 · Travel
total $219,618
-
19 · Conferences, conventions and meetings
total $740,062
-
20 · Interest
total $5,898
-
22 · Depreciation, depletion and amortization
total $95,268
-
23 · Insurance
total $11,739
-
24a · Other expenses: CHAPTER EXPENSES
total $568,556
-
24b · Other expenses: OTHER
total $342,289
-
24c · Other expenses: SHARED EXPENSES
total $112,418
-
24d · Other expenses: FLOW THRU LOSSES
total $13,800
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $2,962,277 · end of year $2,189,846
-
2 · Savings and temporary cash investments
beginning of year $306,816 · end of year $307,022
-
4 · Accounts receivable
beginning of year $14,589 · end of year $158,410
-
9 · Prepaid expenses and deferred charges
beginning of year $256,862 · end of year $262,248
-
10a · Land, buildings and equipment: cost or other basis
$259,193
-
10b · Land, buildings and equipment: accumulated depreciation
$225,511
-
10c · Land, buildings and equipment, net
beginning of year $51,964 · end of year $33,682
-
12 · Investments: other securities
beginning of year $67,316,140 · end of year $67,647,680
-
15 · Other assets
beginning of year $16,292,614 · end of year $17,559,518
-
17 · Accounts payable and accrued expenses
beginning of year $1,263,833 · end of year $1,033,551
-
19 · Deferred revenue
beginning of year $354,372 · end of year $718,217
-
25 · Other liabilities
beginning of year $560,830 · end of year $489,292
-
27 · Net assets without donor restrictions
beginning of year $85,022,227 · end of year $85,917,346
Mission and programs · 2023
Mission
STRENGTHEN THE CREDIT UNION COMMUNITY AND ITS IMAGE BY PROVIDING ADVOCACY ON IMPORTANT ISSUES, COORDINATING COOPERATIVE INITIATIVES AND BY PROVIDING HIGH-QUALITY SOLUTIONS THAT HELP CREDIT UNIONS SUCCEED AND ENRICH THE LIVES OF THEIR MEMBERS.
Activities or mission (Part I)
PROVIDE ADVOCACY AND SUPPORT TO HELP CREDIT UNIONS SUCCEED AND ENRICH THE LIVES OF THEIR MEMBERS.
-
OFFER SUPPORT AND PROVIDE ADVOCACY TO AFFILIATED CREDIT UNIONS.
As filed on the 2023 return.
Listed in Part VII
-
DEAN TRUDEAU
CHAIR/AT LARGE DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
CARMA PETERS
VICE CHAIR/DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
DREMA ISAAC
TREASURER/SECRETARY/DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
HEATHER LUCIANI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
CHRISSY SIDERS
ALTERNATE DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
ANDY KEMPF
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
JUSTIN BAMFORD
ALTERNATE DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
DON MILLS
DIRECTOR EFF 6/2023
- Total calculated
- $0
- Hours/week
- 0.5
-
JENNY HOYLE
ALTERNATE DIRECTOR EFF 6/2023
- Total calculated
- $0
- Hours/week
- 0.5
-
CONNIE TOENSING
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
JOY HILL
ALTERNATE DIRECTOR EFF 11/2023
- Total calculated
- $0
- Hours/week
- 0.5
-
JEFF BENSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
BRAD BERGMOOSER
ALTERNATE DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
KELLI WISNER-FRANK
ALTERNATE DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
ADAM JOHNSON
AT LARGE DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
TOM KUSLIKIS
ALTERNATE DIRECTOR EFF 6/23 - 8/23
- Total calculated
- $0
- Hours/week
- 0.5
-
TIM BENECKE
DIRECTOR THRU 6/2023
- Total calculated
- $0
- Hours/week
- 0.5
-
JIM VENESKEY
ALTERNATE DIRECTOR THRU 8/2023
- Total calculated
- $0
- Hours/week
- 0.5
-
PATRICIA CORKERY
PRESIDENT/CEO
- Total calculated
- $491,274
- From this org
- $455,911
- From related orgs
- $0
- Other
- $35,363
- Hours/week
- 45 + 5 related
Schedule J breakdown matched by us
- Base
- $455,911
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $19,796 related
- Nontaxable benefits
- $0 + $15,567 related
- Filer's total
- $455,911 + $35,363 related
-
WENDY VADNAIS
CFO
- Total calculated
- $278,145
- From this org
- $264,795
- From related orgs
- $0
- Other
- $13,350
- Hours/week
- 5 + 45 related
Schedule J breakdown matched by us
- Base
- $264,795
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $12,023 related
- Nontaxable benefits
- $0 + $1,327 related
- Filer's total
- $264,795 + $13,350 related
-
KIERAN MARION
EVP ADVOCACY
- Total calculated
- $233,524
- From this org
- $205,501
- From related orgs
- $0
- Other
- $28,023
- Hours/week
- 50 + 0.5 related
Schedule J breakdown matched by us
- Base
- $205,501
- Bonus
- $0
- Other
- $0
- Deferred
- $10,109
- Nontaxable benefits
- $17,914
- Filer's total
- $233,524
-
RENEE WERTH
EVP LEAGUE SERVICES
- Total calculated
- $225,940
- From this org
- $212,782
- From related orgs
- $0
- Other
- $13,158
- Hours/week
- 37.5 + 12.5 related
Schedule J breakdown matched by us
- Base
- $212,782
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $10,109 related
- Nontaxable benefits
- $0 + $3,049 related
- Filer's total
- $212,782 + $13,158 related
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
- 1a · Travel for companions
- 1a · Discretionary spending account
- 1a · Health or social club dues or initiation fees
- 1b · Written policy on the line-1a expenses
- 2 · Substantiation required before reimbursing expenses
- 3 · Compensation committee
- 3 · Written employment contract
- 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.
-
MICHIGAN CREDIT UNION FOUNDATION
501(C)(3) · SUPPORT CREDIT UNION MOVEMENT · MI
-
501(C)(6) · CREDIT UNION SERVICES · MI
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 partnerships
Part III: related organizations taxable as a partnership, with the filer's share.
-
UNRELATED · INVESTMENTS · MI · 12.12% owned · share of income -$11,855 · share of assets $63,174 · general or managing partner
Directly controlled by MICHIGAN CREDIT UNION LEAGUE
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
CU SOLUTIONS GROUP INCORPORATED
C · CREDIT UNION SERVICES · MI · 64.02% owned · share of income $1,937,935 · share of assets $62,635,004 · controlled entity
Directly controlled by MICHIGAN CREDIT UNION LEAGUE
-
MICHIGAN CREDIT UNION LEAGUE SERVICE CORPORATION
C · CREDIT UNION SERVICES · MI · 100% owned · share of income $492,180 · share of assets $2,196,283 · controlled entity
Directly controlled by MICHIGAN CREDIT UNION LEAGUE
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 14 November 2024
- IRS schema version
- 2023v5.1
- Source object
- 202403209349303635
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