Totals
- Total revenue
- $734,170,214
- Total expenses
- $566,974,537
- Contributions and grants received
- $0
- Grants paid
- $16,000
- Program service revenue
- $660,644,795
- Investment income
- $69,367,466
- Other revenue
- $4,157,953
- Total assets, end of year
- $18,739,008,483
- Total liabilities, end of year
- $17,292,467,998
- Net assets or fund balances, end of year
- $1,446,540,485
- 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: LOAN INTEREST INCOME
total $620,816,101 · related or exempt $620,816,101
-
2b · Program service revenue: SERVICE FEES
total $3,737,706 · related or exempt $3,737,706
-
2c · Program service revenue: INVESTMENT SERVICES
total $4,080,869 · related or exempt $4,080,869
-
2d · Program service revenue: INTERCHANGE INCOME
total $9,520,651 · related or exempt $9,520,651
-
2e · Program service revenue: INSURANCE INCOME
total $2,363,450 · related or exempt $1,523,553 · unrelated business $839,897
-
2f · All other program service revenue
total $20,126,018 · related or exempt $20,126,018
-
3 · Investment income
total $43,629,369 · related or exempt $43,621,965 · unrelated business $7,404
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6b · Less rental expenses
real property $0
-
6c · Rental income or loss
real property $0 · personal property $0
-
6d · Net rental income or loss
total $0
-
7a · Gross sales of assets other than inventory
other assets $976,325,656
-
7b · Less cost or other basis and sales expenses
other assets $950,587,559
-
7c · Gain or loss
other assets $25,738,097
-
7d · Net gain or loss
total $25,738,097 · related or exempt $25,738,097
-
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: MISC INCOME - BOLI
total $4,157,953 · related or exempt $4,157,953
-
11e · Other revenue, total
$4,157,953
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $16,000
-
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 $5,120,994
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $95,222,596
-
8 · Pension plan contributions
total $4,178,818
-
9 · Other employee benefits
total $10,559,119
-
10 · Payroll taxes
total $6,485,302
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $870,269
-
11c · Fees: accounting
total $387,347
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $7,618,378
-
12 · Advertising and promotion
total $12,299,311
-
13 · Office expenses
total $5,520,411
-
14 · Information technology
total $16,746,870
-
15 · Royalties
total $0
-
16 · Occupancy
total $2,633,324
-
17 · Travel
total $1,087,408
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $290,049
-
20 · Interest
total $233,324,093
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $11,558,640
-
23 · Insurance
total $665,148
-
24a · Other expenses: PROVISION FOR LOAN LOSS
total $112,526,049
-
24b · Other expenses: MORTGAGE SERVICING FEES
total $10,814,522
-
24c · Other expenses: CREDIT CARD SERVICING FEES
total $4,872,374
-
24d · Other expenses: ATM SERVICING FEES
total $3,394,585
-
24e · All other expenses
total $20,782,930
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $0 · end of year $0
-
2 · Savings and temporary cash investments
beginning of year $617,811,927 · end of year $362,321,470
-
3 · Pledges and grants receivable
beginning of year $0 · end of year $0
-
4 · Accounts receivable
beginning of year $47,888,750 · end of year $85,039,623
-
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 $10,058,629,419 · end of year $14,880,065,202
-
8 · Inventories for sale or use
beginning of year $0 · end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $7,852,127 · end of year $11,375,986
-
10a · Land, buildings and equipment: cost or other basis
$147,748,126
-
10b · Land, buildings and equipment: accumulated depreciation
$121,779,018
-
10c · Land, buildings and equipment, net
beginning of year $27,120,109 · end of year $25,969,108
-
11 · Investments: publicly traded securities
beginning of year $3,624,774,786 · end of year $2,355,755,323
-
12 · Investments: other securities
beginning of year $502,500 · end of year $502,500
-
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 $766,432,690 · end of year $1,017,979,271
-
17 · Accounts payable and accrued expenses
beginning of year $90,528,261 · end of year $116,210,540
-
18 · Grants payable
beginning of year $0 · end of year $0
-
19 · Deferred revenue
beginning of year $1,122,923 · end of year $370,522
-
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 $13,551,106,744 · end of year $17,175,886,936
-
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 $1,508,254,380 · end of year $1,446,540,485
Mission and programs · 2022
Mission
ALLIANT CREDIT UNION OPERATES TO BENEFIT MEMBERS. ALLIANT CREDIT UNION OPERATES WITHOUT PROFIT FOR MUTUAL PURPOSE. WE STRIVE TO BENEFIT OUR MEMBERS THROUGH HIGHER DIVIDENDS ON SAVINGS AND LOWER LOAN RATES.
Activities or mission (Part I)
WE OPERATE TO BENEFIT MEMBERS. WE OPERATE WITHOUT PROFIT FOR MUTUAL PURPOSE. WE STRIVE TO BENEFIT OUR MEMBERS THROUGH HIGHER DIVIDENDS ON SAVINGS AND LOWER LOAN RATES.
-
LENDING SERVICES - WE OFFER VARIOUS CREDIT SOLUTIONS AT REASONABLE RATES OF INTEREST INCLUDING 1ST AND 2ND MORTGAGE, CONSUMER LOANS, CREDIT CARDS, PERSONAL LOANS AND BUSINESS LOANS.
-
DEPOSIT PRODUCTS - WE OFFER NUMEROUS DEPOSIT PRODUCTS AT A HIGHER THAN AVERAGE INTEREST RATE INCLUDING CHECKING, SAVINGS, CERTIFICATE OF DEPOSITS, AND CUSTODIAL ACCOUNTS.
-
INVESTMENT SERVICES - FULL SERVICE FINANCIAL ADVISORY PROGRAM OFFERING MEMBERS RETIREMENT, INSURANCE, AND INVESTMENT SERVICES.
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Dennis DevineDENNIS DEVINE
CHIEF EXECUTIVE OFFICER
- Total calculated
- $3,367,375
- From this org
- $3,016,512
- From related orgs
- $0
- Other
- $350,863
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $864,529
- Bonus
- $2,141,407
- Other
- $10,576
- Deferred
- $343,569
- Nontaxable benefits
- $7,294
- Filer's total
- $3,367,375
-
Harry ZhuHARRY ZHU
SENIOR VICE PRESIDENT
- Total calculated
- $964,334
- From this org
- $864,254
- From related orgs
- $0
- Other
- $100,080
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $326,171
- Bonus
- $527,833
- Other
- $10,250
- Deferred
- $100,080
- Nontaxable benefits
- $0
- Filer's total
- $964,334
-
Diane Hughes StartDIANE HUGHES START
SENIOR VICE PRESIDENT
- Total calculated
- $709,862
- From this org
- $610,124
- From related orgs
- $0
- Other
- $99,738
- Hours/week
- 40
-
Kenneth SchaafsmaKENNETH SCHAAFSMA
Senior Vice President
- Total calculated
- $679,939
- From this org
- $585,939
- From related orgs
- $0
- Other
- $94,000
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $305,699
- Bonus
- $280,240
- Other
- $0
- Deferred
- $83,530
- Nontaxable benefits
- $10,470
- Filer's total
- $679,939
-
Sumeet Grover StartSUMEET GROVER START
SENIOR VICE PRESIDENT
- Total calculated
- $678,519
- From this org
- $584,686
- From related orgs
- $0
- Other
- $93,833
- Hours/week
- 40
-
Charles KrawitzCHARLES KRAWITZ
SENIOR VICE PRESIDENT
- Total calculated
- $655,788
- From this org
- $552,498
- From related orgs
- $0
- Other
- $103,290
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $264,954
- Bonus
- $276,971
- Other
- $10,573
- Deferred
- $91,720
- Nontaxable benefits
- $11,570
- Filer's total
- $655,788
-
Meredith RitchieMEREDITH RITCHIE
Senior VICE PRESIDENT, COUNSEL
- Total calculated
- $620,960
- From this org
- $516,640
- From related orgs
- $0
- Other
- $104,320
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $261,301
- Bonus
- $245,089
- Other
- $10,250
- Deferred
- $92,750
- Nontaxable benefits
- $11,570
- Filer's total
- $620,960
-
Mark Lau StartMARK LAU START
SENIOR VICE PRESIDENT, CFO
- Total calculated
- $618,078
- From this org
- $522,779
- From related orgs
- $0
- Other
- $95,299
- Hours/week
- 40
-
Vasanthi Sekhar End 0522VASANTHI SEKHAR END 0522
SENIOR VICE PRESIDENT
- Total calculated
- $421,153
- From this org
- $394,533
- From related orgs
- $0
- Other
- $26,620
- Hours/week
- 40
-
Shrikant Dash End 0122SHRIKANT DASH END 0122
SENIOR VICE PRESIDENT
- Total calculated
- $311,165
- From this org
- $308,472
- From related orgs
- $0
- Other
- $2,693
- Hours/week
- 40
-
Ted DavidsonTED DAVIDSON
Chairperson
- Total calculated
- $65,000
- From this org
- $65,000
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1
-
Irwin GzeshIRWIN GZESH
Chairperson of SUPERVISORY COM
- Total calculated
- $55,000
- From this org
- $55,000
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1
-
Lee AchordLEE ACHORD
Board Member, Board Secretary
- Total calculated
- $55,000
- From this org
- $55,000
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1
-
David LeibDAVID LEIB
VICE CHAIRPERSON
- Total calculated
- $55,000
- From this org
- $55,000
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1
-
Julian ChuJULIAN CHU
CHAIRPERSON, COMPENSATION & TA
- Total calculated
- $51,667
- From this org
- $51,667
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1
-
Scott WilsonSCOTT WILSON
Board Member
- Total calculated
- $45,000
- From this org
- $45,000
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1
-
Sabrina KingSABRINA KING
Board Member
- Total calculated
- $45,000
- From this org
- $45,000
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1
-
Sue BettmanSUE BETTMAN
BOARD MEMBER
- Total calculated
- $45,000
- From this org
- $45,000
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1
-
Ajibola JohnsonAJIBOLA JOHNSON
BOARD MEMBER
- Total calculated
- $45,000
- From this org
- $45,000
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1
-
Kenton Chow Start 022022KENTON CHOW START 022022
BOARD MEMBER
- Total calculated
- $30,000
- From this org
- $30,000
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1
-
Anne Pease End 022022ANNE PEASE END 022022
Vice Chairperson, Comp & Tale
- Total calculated
- $22,917
- From this org
- $22,917
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1
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
Itemized on Schedule J with no Part VII listing of the same name on this return:
-
Vasanthi SekharVASANTHI SEKHAR
SENIOR VICE PRESIDENT
Schedule J breakdown
- Base
- $105,533
- Bonus
- $278,750
- Other
- $10,250
- Deferred
- $24,750
- Nontaxable benefits
- $1,870
- Filer's total
- $421,153
-
Shrikant DashSHRIKANT DASH
SENIOR VICE PRESIDENT
Schedule J breakdown
- Base
- $17,405
- Bonus
- $290,000
- Other
- $1,067
- Deferred
- $2,135
- Nontaxable benefits
- $558
- Filer's total
- $311,165
-
Diane HughesDIANE HUGHES
SENIOR VICE PRESIDENT
Schedule J breakdown
- Base
- $299,874
- Bonus
- $300,000
- Other
- $10,250
- Deferred
- $96,506
- Nontaxable benefits
- $3,232
- Filer's total
- $709,862
-
Sumeet GroverSUMEET GROVER
SENIOR VICE PRESIDENT
Schedule J breakdown
- Base
- $351,863
- Bonus
- $232,500
- Other
- $323
- Deferred
- $93,833
- Nontaxable benefits
- $0
- Filer's total
- $678,519
-
Mark LauMARK LAU
SENIOR VICE PRESIDENT, CFO
Schedule J breakdown
- Base
- $260,594
- Bonus
- $251,551
- Other
- $10,634
- Deferred
- $88,629
- Nontaxable benefits
- $6,670
- Filer's total
- $618,078
Answered yes
- 3 · Compensation committee
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
- 4b · Supplemental nonqualified retirement plan
Answered no
- 4a · Severance or change-of-control payment
- 4c · Equity-based compensation arrangement
The filer's explanations (Part III)
- SCHEDULE J, PART I, LINE 4B
- ALLIANT OFFERS A SUPPLEMENTAL DEFERRED COMPENSATION PROGRAM TO SVP'S AND ABOVE. THE AMOUNT IS AS FOLLOWS: DENNIS DEVINE $318,819 HARRY ZHU $77,273 MEREDITH RITCHIE $68,000 KENNETH SCHAAFSMA $69,030 CHARLES KRAWITZ $66,970 DIANE HUGHES $72,121 SUMEET GROVER $79,333 MARK LAU $63,879
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.
-
ALLIANT CREDIT UNION FOUNDATION
501(C)(3) · PRIVATE FDN · IL
Directly controlled by NA
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 15 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202313199349310396
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