Form 990 for tax year 2022
Filed by CORNERSTONE CREDIT UNION LEAGUE.
Totals
- Total revenue
- $8,064,748
- Total expenses
- $7,348,593
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $7,544,188
- Investment income
- $122,831
- Other revenue
- $397,729
- Total assets, end of year
- $26,892,766
- Total liabilities, end of year
- $3,623,672
- Net assets or fund balances, end of year
- $23,269,094
- 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: LEAGUE DUES
total $6,741,676 · related or exempt $6,741,676
-
2b · Program service revenue: ANNUAL MEETING
total $647,257 · related or exempt $647,257
-
2c · Program service revenue: COUNCIL INCOME
total $135,255 · related or exempt $135,255
-
2d · Program service revenue: TRAINING RESOURCES
total $20,000 · related or exempt $20,000
-
3 · Investment income
total $122,831 · excluded $122,831
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6a · Gross rents
real property $84,840
-
6c · Rental income or loss
real property $84,840 · personal property $0
-
6d · Net rental income or loss
total $84,840 · excluded $84,840
-
7d · Net gain or loss
total $0
-
8a · Fundraising events: gross income
$0
-
8b · Fundraising events: direct expenses
$0
-
8c · Net income from fundraising events
total $0
-
9a · Gaming: gross income
$0
-
9b · Gaming: direct expenses
$0
-
9c · Net income from gaming
total $0
-
10a · Gross sales of inventory
$0
-
10b · Cost of goods sold
$0
-
10c · Net income from sales of inventory
total $0
-
11a · Other revenue: CU POLICY PRO REVENUE SHARE
total $1,000 · related or exempt $1,000
-
11b · Other revenue: OCUPAC ADMIN REVENUE
total $16,611 · related or exempt $16,611
-
11c · Other revenue: FEE INCOME
total $57,378 · related or exempt $57,378
-
11d · All other revenue
total $237,900 · related or exempt $237,900
-
11e · Other revenue, total
$312,889
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $783,926
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $1,553,134
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $0
-
10 · Payroll taxes
total $629,168
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $137,466
-
11c · Fees: accounting
total $0
-
11d · Fees: lobbying
total $281,526
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $0
-
12 · Advertising and promotion
total $431
-
13 · Office expenses
total $0
-
14 · Information technology
total $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $373,534
-
17 · Travel
total $247,194
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $148,446
-
20 · Interest
total $0
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $276,847
-
23 · Insurance
total $54,849
-
24a · Other expenses: ALLOCATION EXPENSE
total $2,202,725
-
24b · Other expenses: ANNUAL MEETING EXPENSES
total $408,414
-
24c · Other expenses: TELEPHONE
total $59,802
-
24d · Other expenses: TAXES, LICENSES & FEES
total $39,250
-
24e · All other expenses
total $151,881
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $893,039 · end of year $10,047,063
-
2 · Savings and temporary cash investments
beginning of year $6,259,416 · end of year $10
-
3 · Pledges and grants receivable
beginning of year $482,022 · end of year $0
-
4 · Accounts receivable
beginning of year $54,971 · end of year $221,351
-
5 · Loans and receivables from officers and key people
beginning of year $0 · end of year $0
-
6 · Loans and receivables from disqualified persons
beginning of year $0 · end of year $0
-
7 · Other notes and loans receivable
beginning of year $0 · end of year $0
-
8 · Inventories for sale or use
beginning of year $0 · end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $113,842 · end of year $103,365
-
10a · Land, buildings and equipment: cost or other basis
$2,063,182
-
10b · Land, buildings and equipment: accumulated depreciation
$1,405,210
-
10c · Land, buildings and equipment, net
beginning of year $727,921 · end of year $657,972
-
11 · Investments: publicly traded securities
beginning of year $1,294,993 · end of year $1,138,497
-
12 · Investments: other securities
beginning of year $15,433,833 · end of year $14,570,605
-
13 · Investments: program-related
beginning of year $0 · end of year $0
-
14 · Intangible assets
beginning of year $0 · end of year $0
-
15 · Other assets
beginning of year $165,748 · end of year $153,903
-
17 · Accounts payable and accrued expenses
beginning of year $610,623 · end of year $1,177,537
-
18 · Grants payable
beginning of year $0 · end of year $0
-
19 · Deferred revenue
beginning of year $790,123 · end of year $2,178,861
-
20 · Tax-exempt bond liabilities
beginning of year $0 · end of year $0
-
21 · Escrow or custodial account liability
beginning of year $0 · end of year $0
-
22 · Loans and payables to officers and key people
beginning of year $0 · end of year $0
-
23 · Secured mortgages and notes payable
beginning of year $0 · end of year $0
-
24 · Unsecured notes and loans payable
beginning of year $0 · end of year $0
-
25 · Other liabilities
beginning of year $458,629 · end of year $267,274
-
27 · Net assets without donor restrictions
beginning of year $23,037,941 · end of year $22,742,056
-
28 · Net assets with donor restrictions
beginning of year $528,469 · end of year $527,038
Mission and programs · 2022
Mission
TO PROTECT CREDIT UNIONS, AND PROMOTE THEIR GROWTH, STRENGTH AND UNITY.
-
INFORMATION CENTRAL PROVIDES PHONE AND EMAIL SERVICE TO CREDIT UNIONS TO PROVIDE INFORMATION ON COMPLIANCE AND REGULATORY ASSISTANCE FOR MEMBER CREDIT UNIONS. REGULATORY & COMPLIANCE GENERATES ANNUAL VIDEOS FOR COMPLIANCE ISSUES SUCH AS BSA AND DIRECTOR DUTIES AND RESPONSIBILITIES. THE INFORMATION CENTRAL DIVISION ANSWERS OVER 3,000 PHONE CALLS AND PROVIDES REGULATORY AND LEGAL UPDATES TO THE LEAGUE INFOSIGHT ONLINE COMPLIANCE MANUAL AND DISTRIBUTES MONTHLY COMPLIANCE E-NEWSLETTERS TO MEMBER CREDIT UNIONS.
-
ENGAGEMENT CONSULTANTS. THE FOCUS OF THIS GROUP IS TO ACT AS THE PRIMARY POINT OF CONTACT AND DAY-TO-DAY LINK BETWEEN CORNERSTONE AND ITS CREDIT UNIONS. THEY PROVIDE HIGH TOUCH AND HIGH TECH TO ENHANCE THE MEMBER EXPERIENCE AND MAXIMIZE THE VALUE OF LEAGUE MEMBERSHIP.
-
COMPLIANCE AND REGULATORY. COMMUNICATES WITH REGULATORS, PROVIDES ANALYSIS OF NEW PROPOSALS, ASSISTS CREDIT UNIONS IN CRAFTING PERSUASIVE RESPONSES TO GOVERNING AGENCIES, AND PROVIDES INTERPRETATION AND FEEDBACK ON HOW BEST TO COMPLY WITH EXISTING REGULATIONS.
-
ASSET/LIABILITY MANAGEMENT SERVICES
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Caroline Willard
President/CEO
- Total calculated
- $752,246
- From this org
- $363,564
- From related orgs
- $363,564
- Other
- $25,118
- Hours/week
- 20 + 20.5 related
Schedule J breakdown matched by us
- Base
- $274,736 + $274,736 related
- Bonus
- $67,107 + $67,107 related
- Other
- $21,721 + $21,721 related
- Deferred
- $7,625 + $7,625 related
- Nontaxable benefits
- $4,934 + $4,934 related
- Filer's total
- $376,123 + $376,123 related
-
James Phelps
SVP/Advocacy
- Total calculated
- $353,041
- From this org
- $322,926
- From related orgs
- $0
- Other
- $30,115
- Hours/week
- 30 + 10 related
Schedule J breakdown matched by us
- Base
- $269,072
- Bonus
- $41,444
- Other
- $12,410
- Deferred
- $12,504
- Nontaxable benefits
- $17,611
- Filer's total
- $353,041
-
Suzanne Yashewski
Regulatory & Compliance Counc
- Total calculated
- $223,929
- From this org
- $207,373
- From related orgs
- $0
- Other
- $16,556
- Hours/week
- 40 + 0.5 related
Schedule J breakdown matched by us
- Base
- $189,300
- Bonus
- $15,753
- Other
- $2,320
- Deferred
- $10,337
- Nontaxable benefits
- $6,219
- Filer's total
- $223,929
-
Michael Delker
CU Relations SVP
- Total calculated
- $220,237
- From this org
- $210,695
- From related orgs
- $0
- Other
- $9,542
- Hours/week
- 40 + 0.5 related
Schedule J breakdown matched by us
- Base
- $188,636
- Bonus
- $20,079
- Other
- $1,980
- Deferred
- $7,504
- Nontaxable benefits
- $2,038
- Filer's total
- $220,237
-
Shoaib Salamat
SVP Finance and Administration
- Total calculated
- $195,578
- From this org
- $47,244
- From related orgs
- $121,483
- Other
- $26,851
- Hours/week
- 20 + 20.5 related
Schedule J breakdown matched by us
- Base
- $43,358 + $111,492 related
- Bonus
- $3,399 + $8,740 related
- Other
- $487 + $1,251 related
- Deferred
- $2,364 + $6,080 related
- Nontaxable benefits
- $5,154 + $13,253 related
- Filer's total
- $54,762 + $140,816 related
-
Gilianne Carter Thomas
Executive Director, TXCUA
- Total calculated
- $179,290
- From this org
- $160,291
- From related orgs
- $0
- Other
- $18,999
- Hours/week
- 40 + 0.5 related
Schedule J breakdown matched by us
- Base
- $139,360
- Bonus
- $11,683
- Other
- $9,248
- Deferred
- $7,615
- Nontaxable benefits
- $11,384
- Filer's total
- $179,290
-
Courtney Moran
Executive Director, CCUF
- Total calculated
- $170,540
- From this org
- $0
- From related orgs
- $145,605
- Other
- $24,935
- Hours/week
- 40 + 0.5 related
Schedule J breakdown matched by us
- Base
- not reported + $133,012 related
- Bonus
- not reported + $11,115 related
- Other
- not reported + $1,478 related
- Deferred
- not reported + $7,263 related
- Nontaxable benefits
- not reported + $17,672 related
- Filer's total
- not reported + $170,540 related
-
Vicky Dahinden
Executive Director, ARCUA
- Total calculated
- $165,500
- From this org
- $151,175
- From related orgs
- $0
- Other
- $14,325
- Hours/week
- 40 + 0.5 related
Schedule J breakdown matched by us
- Base
- $133,055
- Bonus
- $11,338
- Other
- $6,782
- Deferred
- $6,969
- Nontaxable benefits
- $7,356
- Filer's total
- $165,500
-
James Boyd
Chairman
- Total calculated
- $0
- Hours/week
- 0.5
-
Melissa Burleson
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
Karyn Davis
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
Dale Hansard
Treasurer
- Total calculated
- $0
- Hours/week
- 0.5 + 0.5 related
-
Kenny Harrington
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
Tammy Passafiume
Vice Chair
- Total calculated
- $0
- Hours/week
- 0.5 + 0.5 related
-
Larry Shropshire
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
Jessie Swendig
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
James Tuggle
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
JoBetsy Tyler
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
David Willis
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
Gina Wilson
Secretary
- Total calculated
- $0
- Hours/week
- 0.5
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
None.
Answered no
None.
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.
-
TX CCUL Political Action Committee
527 · Support · TX · controlled entity
Directly controlled by CCUL
-
Cornersone Credit Union Foundation
501(c)(3) · Empowering · TX
-
Arkansas Credit Union Political Action
527 · Support · AR · controlled entity
Directly controlled by CCUL
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.
-
Credit Union Resources Inc
C Corp · Service Provider · TX · 100% owned · share of income $11,562,799 · share of assets $16,041,545 · controlled entity
Directly controlled by CCUL
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 15 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202313199349328041
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