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Nonprofiteer
← ILLINOIS CREDIT UNION FOUNDATION

Form 990 for tax year 2024

Filed by ILLINOIS CREDIT UNION FOUNDATION.

Totals

Total revenue
$1,352,214
Total expenses
$668,148
Contributions and grants received
$1,213,936
Grants paid
$662,690
Program service revenue
$0
Investment income
$85,457
Other revenue
$52,821
Total assets, end of year
$2,723,110
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$2,723,110
Program services expenses (Part IX)
$664,748
Management and general expenses
$3,400
Fundraising expenses
$0
Program service expenses (Part III)
$664,748

Program services were 99.5% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

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.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $0

  • 1f · All other contributions, gifts and grants

    $1,213,936

  • 1g · Noncash contributions included above

    $0

  • 3 · Investment income

    total $85,457 · related or exempt $0 · unrelated business $0 · excluded $85,457

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6d · Net rental income or loss

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 8a · Fundraising events: gross income

    $65,635

  • 8a · Fundraising events: contributions included on line 1c

    $0

  • 8b · Fundraising events: direct expenses

    $12,814

  • 8c · Net income from fundraising events

    total $52,821 · unrelated business $0 · excluded $52,821

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $662,690 · program services $662,690

  • 2 · Grants to domestic individuals

    total $0 · program services $0

  • 3 · Grants to foreign organizations and individuals

    total $0 · program services $0

  • 11a · Fees: management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11b · Fees: legal

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11c · Fees: accounting

    total $3,400 · program services $0 · management and general $3,400 · fundraising $0

  • 11d · Fees: lobbying

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11e · Fees: professional fundraising services

    total $0 · fundraising $0

  • 11f · Fees: investment management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11g · Fees: other

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 12 · Advertising and promotion

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $2,058 · program services $2,058 · management and general $0 · fundraising $0

  • 14 · Information technology

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 15 · Royalties

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 17 · Travel

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 18 · Travel or entertainment for public officials

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 20 · Interest

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 21 · Payments to affiliates

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $689,044 · end of year $2,223,110

  • 2 · Savings and temporary cash investments

    beginning of year $1,350,000 · end of year $500,000

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 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 $0 · end of year $0

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

    $0

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 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 $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $0 · end of year $0

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 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 $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $1,173,203 · end of year $1,316,722

  • 28 · Net assets with donor restrictions

    beginning of year $865,841 · end of year $1,406,388

Mission and programs · 2024

Mission

Promote charitable and educational goals as they relate to State and Federally chartered Credit Unions.

  • To help establish and launch a credit union group health care plan for their employees to achieve economies of scale.

    Expenses $416,268 · Grants $416,268

  • Grants to small Credit Unions including professional development and special projects promoting financial health and well-being initiatives

    Expenses $248,480 · Grants $246,422

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

Listed in Part VII

  • Michelle Balog

    Chair

    Total calculated
    $0
    Hours/week
    5

  • Kerriann Mills

    Vice Chair

    Total calculated
    $0
    Hours/week
    5

  • Susan Toalson

    Secretary

    Total calculated
    $0
    Hours/week
    5

  • Lou Bicanic

    Director

    Total calculated
    $0
    Hours/week
    1

  • Geraldine Burek

    Director

    Total calculated
    $0
    Hours/week
    1

  • John Fiore

    Director

    Total calculated
    $0
    Hours/week
    1

  • John Hansen

    Director

    Total calculated
    $0
    Hours/week
    1

  • Michael Lee

    Director

    Total calculated
    $0
    Hours/week
    1

  • Thomas Pierce

    Director

    Total calculated
    $0
    Hours/week
    1

  • Amber Scott

    Director

    Total calculated
    $0
    Hours/week
    1

  • Sarah Vega

    Director

    Total calculated
    $0
    Hours/week
    1

  • Tom Kane

    Director

    Total calculated
    $0
    Hours/week
    1

  • Joseph Kregul

    Director

    Total calculated
    $0
    Hours/week
    1

  • Jose Garcia

    Director

    Total calculated
    $0
    Hours/week
    1

  • Michael Abraham

    Director

    Total calculated
    $0
    Hours/week
    1

  • Pete Fauth

    Director

    Total calculated
    $0
    Hours/week
    1

  • Melanie Murphy

    Executive Director

    Total calculated
    $129,849
    From this org
    $0
    From related orgs
    $129,849
    Other
    $0
    Hours/week
    35

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.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

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.

Provenance

Return type
form_990
Tax year
2024
Filed
4 November 2025
IRS schema version
2024v5.1
Source object
202513089349304111

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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