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Nonprofiteer
← IOWA CREDIT UNION LEAGUE

Form 990 for tax year 2024

Filed by IOWA CREDIT UNION LEAGUE.

Totals

Total revenue
$1,895,006
Total expenses
$4,439,965
Contributions and grants received
$575,200
Grants paid
$0
Program service revenue
$1,314,821
Investment income
$4,985
Other revenue
$0
Total assets, end of year
$87,439,487
Total liabilities, end of year
$950,947
Net assets or fund balances, end of year
$86,488,540
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.

  • 1f · All other contributions, gifts and grants

    $575,200

  • 2a · Program service revenue: MEMBERSHIP DUES

    total $741,103 · related or exempt $741,103

  • 2b · Program service revenue: ANNUAL MEETING

    total $439,740 · related or exempt $439,740

  • 2c · Program service revenue: SERVICE FEES

    total $133,978 · related or exempt $133,978

  • 3 · Investment income

    total $4,985 · excluded $4,985

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $430,392

  • 8 · Pension plan contributions

    total $9,367

  • 9 · Other employee benefits

    total $84,243

  • 10 · Payroll taxes

    total $31,565

  • 11a · Fees: management

    total $538,929

  • 11b · Fees: legal

    total $117,910

  • 11c · Fees: accounting

    total $189,401

  • 11d · Fees: lobbying

    total $1,179,448

  • 11g · Fees: other

    total $2,288

  • 12 · Advertising and promotion

    total $106,610

  • 13 · Office expenses

    total $25,103

  • 14 · Information technology

    total $62,292

  • 16 · Occupancy

    total $363,280

  • 17 · Travel

    total $73,948

  • 19 · Conferences, conventions and meetings

    total $587,635

  • 22 · Depreciation, depletion and amortization

    total $29,750

  • 23 · Insurance

    total $3,289

  • 24a · Other expenses: SUPPORT SERVICES

    total $525,633

  • 24b · Other expenses: CU SYSTEM DEVELOPMENT

    total $77,464

  • 24e · All other expenses

    total $1,418

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $595,855 · end of year $1,444,614

  • 4 · Accounts receivable

    beginning of year $1,646 · end of year $21,991

  • 9 · Prepaid expenses and deferred charges

    beginning of year $106,482 · end of year $143,943

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

    $179,801

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

    $169,885

  • 10c · Land, buildings and equipment, net

    beginning of year $39,666 · end of year $9,916

  • 11 · Investments: publicly traded securities

    beginning of year $172,500 · end of year $172,500

  • 12 · Investments: other securities

    beginning of year $87,774,300 · end of year $85,643,708

  • 15 · Other assets

    beginning of year $0 · end of year $2,815

  • 17 · Accounts payable and accrued expenses

    beginning of year $482,979 · end of year $694,990

  • 19 · Deferred revenue

    beginning of year $72,562 · end of year $255,957

  • 25 · Other liabilities

    beginning of year $12,570 · 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 $88,122,338 · end of year $86,488,540

Mission and programs · 2024

Mission

THE IOWA CREDIT UNION LEAGUE (ICUL) IS THE NON-PROFIT TRADE ASSOCIATION THAT REPRESENTS THE INTERESTS OF IOWA'S CREDIT UNIONS. ICUL WAS ESTABLISHED IN 1933 AND CONTINUES TO FOCUS ON OUR MISSION "TO STRENGTHEN THE CREDIT UNION MOVEMENT BY PROMOTING ITS GROWTH AND WELL-BEING, AND PROVIDING THE TOOLS FOR MEMBERS TO SUCCEED." ICUL PROVIDES THE FOLLOWING SERVICES TO IOWA CREDIT UNIONS: LEGISLATIVE ADVOCACY, REGULATORY COMPLIANCE, PUBLIC AFFAIRS, PROFESSIONAL DEVELOPMENT AND MANAGEMENT CONSULTING.

Activities or mission (Part I)

TO STRENGTHEN THE CREDIT UNION MOVEMENT BY PROMOTING ITS GROWTH AND WELL-BEING, AND PROVIDING THE TOOLS FOR MEMBERS TO SUCCEED.

  • LEGISLATIVE ADVOCACY - WORK TO SECURE A FAIR AND FAVORABLE LEGISLATIVE ENVIRONMENT FOR IOWA CREDIT UNIONS THROUGH PROFESSIONAL LOBBYING, COALITION BUILDING, GRASSROOTS ORGANIZATION AND THE CREDIT UNION POLITICAL ACTION COMMITTEE.

  • REGULATORY COMPLIANCE - MONITOR REGULATORY ISSUES, FIELD COMPLIANCE QUESTIONS AND PROVIDE STRATEGIC DIRECTION CONCERNING CREDIT UNION COMPLIANCE ISSUES.

  • PUBLIC AFFAIRS AND MARKETING - THE PUBLIC RELATIONS AND MARKETING DEPARTMENT WORKS CLOSELY WITH CREDIT UNIONS TO DISSEMINATE PERTINENT INFORMATION TO THE MEDIA AND COMMUNITY ABOUT IOWA CREDIT UNIONS AND NEW DEVELOPMENTS IN THE INDUSTRY. ALSO SERVES AS THE RESOURCE FOR COMMUNITY AND MEDIA RELATIONS, MARKETING THE CREDIT BRAND, AND THE ANNUAL ADVOCACY CAMPAIGN.

  • PROFESSIONAL DEVELOPMENT - THE LEAGUE, IN PARTNERSHIP WITH CUNA, HOLDS NUMEROUS PROFESSIONAL DEVELOPMENT SEMINARS EACH YEAR FOR IOWA CREDIT UNIONS TO HELP THEM LEARN MORE ABOUT HOW TO BEST SERVE THEIR MEMBERS. THE EDUCATION DEPARTMENT HELPS ORGANIZE THE ANNUAL CONVENTION.

  • MANAGMENT CONSULTATION - THE MANAGEMENT CONSULTANTS AT ICUL ARE STRATEGIC PARTNERS WITH INDIVIDUAL CREDIT UNIONS TO HELP THEM IDENTIFY GOALS AND CHALLENGES, AND PREPARE FOR THE FUTURE DEVELOPMENT OF THEIR CREDIT UNION.

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Murray Williams

    CEO

    Total calculated
    $1,330,518
    From this org
    $282,317
    From related orgs
    $846,953
    Other
    $201,248
    Hours/week
    10 + 30 related

    Schedule J breakdown matched by us

    Base
    $148,005 + $444,013 related
    Bonus
    $75,312 + $225,938 related
    Other
    $59,000 + $177,002 related
    Deferred
    $38,427 + $115,282 related
    Nontaxable benefits
    $11,885 + $35,654 related
    Filer's total
    $332,629 + $997,889 related

  • Travis Schipper

    CFO

    Total calculated
    $572,606
    From this org
    $112,393
    From related orgs
    $337,176
    Other
    $123,037
    Hours/week
    10 + 30 related

    Schedule J breakdown matched by us

    Base
    $77,428 + $232,283 related
    Bonus
    $24,712 + $74,135 related
    Other
    $10,253 + $30,758 related
    Deferred
    $18,874 + $56,623 related
    Nontaxable benefits
    $11,885 + $35,655 related
    Filer's total
    $143,152 + $429,454 related

  • Jaimie Miller-Ackley

    VICE PRESIDENT

    Total calculated
    $224,297
    From this org
    $163,929
    From related orgs
    $0
    Other
    $60,368
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $127,786
    Bonus
    $26,796
    Other
    $9,347
    Deferred
    $12,100
    Nontaxable benefits
    $48,268
    Filer's total
    $224,297

  • Scott Zahnle

    CHAIRMAN

    Total calculated
    $12,000
    From this org
    $0
    From related orgs
    $12,000
    Other
    $0
    Hours/week
    1

  • Jeff Hayes

    VICE CHAIRMAN

    Total calculated
    $12,000
    From this org
    $0
    From related orgs
    $12,000
    Other
    $0
    Hours/week
    1

  • Matt Dodds

    DIRECTOR THRU 8/24

    Total calculated
    $0
    Hours/week
    1

  • Greg Hanshaw

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jordan Hensley

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • David Klavitter

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Brad Mertens

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mike Moroney

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mark Peters

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Julie Pingel

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Cindy Stephenson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jami Weems

    DIRECTOR

    Total calculated
    $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

Answered yes

  • 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)

PART I, LINE 3
THE COMPENSATION COMMITTEE WHICH OVERSEES THE COMPENSATION OF THE CEO IS COMPRISED OF ALL OUTSIDE DIRECTORS OF AFFILIATES MANAGEMENT COMPANY, A RELATED ORGANIZATION.
PART I, LINE 4B
TRAVIS SCHIPPER AND MURRAY WILLIAMS PARTICIPATED IN A NON QUALIFIED DEFERRED COMPENSATION PLAN. EMPLOYER CONTRIBUTIONS IN 2024 AMOUNTED TO THE FOLLOWING: MURRAY WILLIAMS $220,752 TRAVIS SCHIPPER $31,160
PART II
THE IOWA CREDIT UNION LEAGUE ("ICUL") IS A TAX-EXEMPT 501(C)(6) MEMBER-BASED BUSINESS LEAGUE WHICH SERVES AS A TRADE ASSOCIATION FOR ALL IOWA CREDIT UNIONS. ICUL IS THE SOLE OWNER OF AFFILIATES MANAGEMENT COMPANY ("AMC") WHICH IS A TAXABLE FOR-PROFIT IOWA CORPORATION. AMC IS IN THE BUSINESS OF OWNING SEVERAL FOR-PROFIT OPERATING SUBSIDIARIES. THE CHIEF EXECUTIVE OFFICER ("CEO") OF ICUL ALSO SERVES AS CEO OF AMC. ACCORDINGLY, THE CEO AND OTHER MEMBERS OF THE EXECUTIVE MANAGEMENT TEAM HAVE RESPONSIBILITIES FOR AND ARE COMPENSATED BY BOTH ICUL AND AMC. THE COMPENSATION AMOUNTS THAT ARE DISCLOSED HEREIN ARE SHOWN ON A CONSOLIDATED BASIS AND REFLECT AMOUNTS PAID BY BOTH ICUL AND AMC.

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.

  • CREDIT UNION POLITICAL ACTION COMMITTEE

    527 · POLITICAL ACTION COMMITTEE · IA

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • COOPERA CONSULTING

    CONSULTING SERVICES · IA · income $0 · assets $607,578

    Directly controlled by AFFILIATES MANAGEMENT COMPANY

  • AMC ASSET HOLDINGS

    HOLDING COMPANY · IA · income $0 · assets $56,374,941

    Directly controlled by IOWA CREDIT UNION LEAGUE

  • AMC REAL ESTATE HOLDINGS

    HOLDING COMPANY · IA · income $0 · assets $5,379,901

    Directly controlled by IOWA CREDIT UNION LEAGUE

  • AMC EMPLOYEE BENEFITS COMPANY LLC

    BUSINESS SERVICES · IA · income $0 · assets $159,412

    Directly controlled by AFFILIATES MANAGEMENT COMPANY

  • POLICYWORKS - IOWA LLC

    LOBBYING & REGULATORY SERVICES · IA · income $0 · assets $694,068

    Directly controlled by AFFILIATES MANAGEMENT COMPANY

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • VICLARITY LLC

    UNRELATED · LOBBYING & REGULATORY SERVICES · IA · 55% owned · share of income -$26,578 · share of assets $4,239,054

    Directly controlled by AFFILIATES MANAGEMENT COMPANY

  • COMMUNITY BUSINESS LENDERS LLC

    UNRELATED · BUSINESS SERVICES · IA · 53% owned · general or managing partner

    Directly controlled by AFFILIATES MANAGEMENT COMPANY

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • AFFILIATES MANAGEMENT COMPANY

    C · HOLDING COMPANY · IA · 100% owned · share of income $8,892,139 · share of assets $30,826,112

    Directly controlled by IOWA CREDIT UNION LEAGUE

  • FIRST COMMUNITY TRUST

    C · TRUST BANKING ASSOCIATION · IA · 100% owned · share of income $7,980,359 · share of assets $14,536,788

    Directly controlled by AFFILIATES MANAGEMENT COMPANY

  • POLICYWORKS GRC LTD

    TECHNOLOGY SOLUTIONS · EI

  • YOUCOMPLY LTD

    TECHNOLOGY SOLUTIONS · EI

Provenance

Return type
form_990
Tax year
2024
Filed
11 November 2025
IRS schema version
2024v5.2
Source object
202503169349307210

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