Skip to content
Nonprofiteer
← MICHIGAN CREDIT UNION LEAGUE

Form 990 for tax year 2022

Filed by MICHIGAN CREDIT UNION LEAGUE.

Totals

Total revenue
$5,384,543
Total expenses
$5,285,000
Contributions and grants received
$689,514
Grants paid
$126
Program service revenue
$2,799,390
Investment income
$1,843,570
Other revenue
$52,069
Total assets, end of year
$87,201,262
Total liabilities, end of year
$2,179,035
Net assets or fund balances, end of year
$85,022,227
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.

  • 1e · Government grants (contributions)

    $689,514

  • 2a · Program service revenue: PROGRAM SVC FEES

    total $1,220,526 · related or exempt $1,220,526

  • 2b · Program service revenue: EDUCATION

    total $1,016,277 · related or exempt $1,016,277

  • 2c · Program service revenue: MEMBERSHIP DUES

    total $562,587 · related or exempt $562,587

  • 3 · Investment income

    total $608,319 · excluded $608,319

  • 7a · Gross sales of assets other than inventory

    securities $6,922,752

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

    securities $5,687,501

  • 7c · Gain or loss

    securities $1,235,251

  • 7d · Net gain or loss

    total $1,235,251 · excluded $1,235,251

  • 11a · Other revenue: FLOW THROUGH INCOME

    total $52,069 · unrelated business $52,069

  • 11e · Other revenue, total

    $52,069

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $126

  • 5 · Compensation of officers, directors and key employees

    total $714,751

  • 7 · Other salaries and wages

    total $1,151,708

  • 8 · Pension plan contributions

    total $53,344

  • 9 · Other employee benefits

    total $72,164

  • 10 · Payroll taxes

    total $121,613

  • 11b · Fees: legal

    total $15,988

  • 11c · Fees: accounting

    total $76,638

  • 11f · Fees: investment management

    total $17,902

  • 11g · Fees: other

    total $592,845

  • 12 · Advertising and promotion

    total $81,629

  • 13 · Office expenses

    total $100,789

  • 14 · Information technology

    total $12,299

  • 16 · Occupancy

    total $21,800

  • 17 · Travel

    total $151,507

  • 19 · Conferences, conventions and meetings

    total $689,994

  • 20 · Interest

    total $3,939

  • 22 · Depreciation, depletion and amortization

    total $118,581

  • 23 · Insurance

    total $3,580

  • 24a · Other expenses: CHAPTER EXPENSES

    total $647,691

  • 24b · Other expenses: SHARED EXPENSES

    total $346,597

  • 24c · Other expenses: OTHER

    total $288,195

  • 24d · Other expenses: FLOW THRU LOSSES

    total $1,320

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,980,996 · end of year $2,962,277

  • 2 · Savings and temporary cash investments

    beginning of year $306,760 · end of year $306,816

  • 4 · Accounts receivable

    beginning of year $20,338 · end of year $14,589

  • 9 · Prepaid expenses and deferred charges

    beginning of year $235,822 · end of year $256,862

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

    $580,011

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

    $286,154

  • 10c · Land, buildings and equipment, net

    beginning of year $62,777 · end of year $293,857

  • 12 · Investments: other securities

    beginning of year $73,032,873 · end of year $67,316,140

  • 15 · Other assets

    beginning of year $10,698,834 · end of year $16,050,721

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,189,658 · end of year $1,263,833

  • 19 · Deferred revenue

    beginning of year $242,521 · end of year $354,372

  • 25 · Other liabilities

    beginning of year $439,703 · end of year $560,830

  • 27 · Net assets without donor restrictions

    beginning of year $86,466,518 · end of year $85,022,227

Mission and programs · 2022

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 2022 return.

Listed in Part VII

  • HEATHER LUCIANI

    CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • DEAN TRUDEAU

    VICE CHAIR/AT LARGE DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • CARMA PETERS

    TREASURER/SECRETARY/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

  • MARK RICHTER

    ALTERNATE DIRECTOR THRU 6/2022

    Total calculated
    $0
    Hours/week
    0.5

  • TIM BENECKE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • DON MILLS

    ALTERNATE DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • CONNIE TOENSING

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • JIM VENESKEY

    ALTERNATE DIRECTOR

    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

  • DREMA ISAAC

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • KELLI WISNER-FRANK

    ALTERNATE DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • JOUMANA MCDAD

    ALTERNATE DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • JUSTIN BAMFORD

    ALTERNATE DIRECTOR EFF 6/2022

    Total calculated
    $0
    Hours/week
    0.5

  • ADAM JOHNSON

    AT LARGE DIRECTOR EFF 6/2022

    Total calculated
    $0
    Hours/week
    0.5

  • PATRICIA CORKERY

    PRESIDENT/CEO

    Total calculated
    $451,880
    From this org
    $417,155
    From related orgs
    $0
    Other
    $34,725
    Hours/week
    45 + 5 related

    Schedule J breakdown matched by us

    Base
    $417,155
    Bonus
    $0
    Other
    $0
    Deferred
    $18,496
    Nontaxable benefits
    $16,229
    Filer's total
    $451,880

  • WENDY VADNAIS

    CFO

    Total calculated
    $262,871
    From this org
    $251,085
    From related orgs
    $0
    Other
    $11,786
    Hours/week
    5 + 45 related

    Schedule J breakdown matched by us

    Base
    $251,085
    Bonus
    $0
    Other
    $0
    Deferred
    $10,353
    Nontaxable benefits
    $1,433
    Filer's total
    $262,871

  • RENEE WERTH

    EVP LEAGUE SERVICES

    Total calculated
    $208,290
    From this org
    $196,302
    From related orgs
    $0
    Other
    $11,988
    Hours/week
    37.5 + 12.5 related

    Schedule J breakdown matched by us

    Base
    $196,302
    Bonus
    $0
    Other
    $0
    Deferred
    $9,012
    Nontaxable benefits
    $2,976
    Filer's total
    $208,290

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.

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.

  • DMIRF INVESTING CUSO LLC

    UNRELATED · INVESTMENTS · MI · 12.12% owned · share of income $52,281 · share of assets $66,915 · 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 -$717,408 · share of assets $58,461,727 · 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 -$137,156 · share of assets $1,992,484 · controlled entity

    Directly controlled by MICHIGAN CREDIT UNION LEAGUE

Provenance

Return type
form_990
Tax year
2022
Filed
13 November 2023
IRS schema version
2022v5.0
Source object
202333189349310433

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.