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Nonprofiteer
← IOWA CREDIT UNION LEAGUE

Form 990 for tax year 2022

Filed by IOWA CREDIT UNION LEAGUE.

Totals

Total revenue
$1,695,127
Total expenses
$4,382,938
Contributions and grants received
$621,945
Grants paid
$50
Program service revenue
$1,056,839
Investment income
$16,343
Other revenue
$0
Total assets, end of year
$88,859,297
Total liabilities, end of year
$476,969
Net assets or fund balances, end of year
$88,382,328
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

    $621,945

  • 2a · Program service revenue: MEMBERSHIP DUES

    total $637,757 · related or exempt $637,757

  • 2b · Program service revenue: ANNUAL MEETING

    total $340,598 · related or exempt $340,598

  • 2c · Program service revenue: SERVICE FEES

    total $78,484 · related or exempt $78,484

  • 3 · Investment income

    total $16,343 · excluded $16,343

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $50

  • 5 · Compensation of officers, directors and key employees

    total $262,253

  • 7 · Other salaries and wages

    total $123,423

  • 8 · Pension plan contributions

    total $19,661

  • 9 · Other employee benefits

    total $57,148

  • 10 · Payroll taxes

    total $30,132

  • 11a · Fees: management

    total $624,884

  • 11b · Fees: legal

    total $105,636

  • 11c · Fees: accounting

    total $133,571

  • 11d · Fees: lobbying

    total $1,314,731

  • 11g · Fees: other

    total $492

  • 12 · Advertising and promotion

    total $154,536

  • 13 · Office expenses

    total $27,152

  • 14 · Information technology

    total $54,748

  • 16 · Occupancy

    total $38,263

  • 17 · Travel

    total $98,135

  • 19 · Conferences, conventions and meetings

    total $578,367

  • 22 · Depreciation, depletion and amortization

    total $23,637

  • 23 · Insurance

    total $2,668

  • 24a · Other expenses: SUPPORT SERVICES

    total $555,970

  • 24b · Other expenses: CU SYSTEM DEVELOPMENT

    total $152,926

  • 24e · All other expenses

    total $24,555

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,959,401 · end of year $523,904

  • 4 · Accounts receivable

    beginning of year $13,519 · end of year $5,008,760

  • 9 · Prepaid expenses and deferred charges

    beginning of year $47,294 · end of year $127,533

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

    $230,428

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

    $161,012

  • 10c · Land, buildings and equipment, net

    beginning of year $66,938 · end of year $69,416

  • 11 · Investments: publicly traded securities

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

  • 12 · Investments: other securities

    beginning of year $95,411,736 · end of year $82,957,184

  • 15 · Other assets

    beginning of year $6,522,050 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $822,085 · end of year $376,736

  • 19 · Deferred revenue

    beginning of year $163,043 · end of year $33,310

  • 25 · Other liabilities

    beginning of year $83,740 · end of year $66,923

  • 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 $105,124,570 · end of year $88,382,328

Mission and programs · 2022

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 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Murray Williams

    CEO

    Total calculated
    $1,170,990
    From this org
    $0
    From related orgs
    $1,004,728
    Other
    $166,262
    Hours/week
    10 + 30 related

    Schedule J breakdown matched by us

    Base
    $0 + $621,384 related
    Bonus
    $0 + $311,242 related
    Other
    $0 + $72,102 related
    Deferred
    $0 + $139,011 related
    Nontaxable benefits
    $0 + $27,251 related
    Filer's total
    $0 + $1,170,990 related

  • Travis Schipper

    CFO

    Total calculated
    $396,709
    From this org
    $0
    From related orgs
    $298,251
    Other
    $98,458
    Hours/week
    8 + 32 related

    Schedule J breakdown matched by us

    Base
    $0 + $296,993 related
    Bonus
    $0
    Other
    $0 + $1,258 related
    Deferred
    $0 + $69,300 related
    Nontaxable benefits
    $0 + $29,158 related
    Filer's total
    $0 + $396,709 related

  • Jaimie Miller-Ackley

    VICE PRESIDENT

    Total calculated
    $181,904
    From this org
    $0
    From related orgs
    $145,999
    Other
    $35,905
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $124,797 related
    Bonus
    $0 + $20,085 related
    Other
    $0 + $1,117 related
    Deferred
    $0 + $10,779 related
    Nontaxable benefits
    $0 + $25,126 related
    Filer's total
    $0 + $181,904 related

  • Matt Dodds

    CHAIRMAN

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

  • Scott Zahnle

    VICE CHAIRMAN

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

  • Greg Hanshaw

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Cindy Stephenson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mike Moroney

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Julie Pingel

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jeff Hayes

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Brad Mertens

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mark Peters

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jordan Hensley

    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

  • 2 · Substantiation required before reimbursing expenses
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 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.
PART I, LINES 4A-B
TRAVIS SCHIPPER AND MURRAY WILLIAMS PARTICIPATED IN A NON QUALIFIED DEFERRED COMPENSATION PLAN. EMPLOYER CONTRIBUTIONS IN 2022 AMOUNTED TO THE FOLLOWING: MURRAY WILLIAMS $ 116,716 TRAVIS SCHIPPER $ 47,250 DISTRIBUTIONS FROM THE PLAN AMOUNTED TO THE FOLLOWING: MURRAY WILLIAMS $ 66,015
PART II
THE IOWA CREDIT UNION LEAGUE ("ICUL") IS A TAX-EXEMPT 501C(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 $282,612

    Directly controlled by AFFILIATES MANAGEMENT COMPANY

  • AMC ASSET HOLDINGS

    HOLDING COMPANY · IA · income $0 · assets $51,535,940

    Directly controlled by IOWA CREDIT UNION LEAGUE

  • AMC REAL ESTATE HOLDINGS

    HOLDING COMPANY · IA · income $0 · assets $6,700,548

    Directly controlled by IOWA CREDIT UNION LEAGUE

  • AMC EMPLOYEE BENEFITS COMPANY LLC

    BUSINESS SERVICES · IA · income $0 · assets $159,207

    Directly controlled by AFFILIATES MANAGEMENT COMPANY

  • POLICYWORKS - IOWA LLC

    LOBBYING & REGULATORY SERVICES · IA · income $0 · assets $617,182

    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 -$594,340 · share of assets $3,680,049

    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 $7,813,669 · share of assets $31,691,816

    Directly controlled by IOWA CREDIT UNION LEAGUE

  • FIRST COMMUNITY TRUST

    C · TRUST BANKING ASSOCIATION · IA · 100% owned · share of income $6,622,635 · share of assets $13,835,242

    Directly controlled by AFFILIATES MANAGEMENT COMPANY

  • POLICYWORKS GRC LTD

    TECHNOLOGY SOLUTIONS · EI

  • YOUCOMPLY LTD

    TECHNOLOGY SOLUTIONS · EI

Provenance

Return type
form_990
Tax year
2022
Filed
16 October 2023
IRS schema version
2022v5.0
Source object
202342899349302514

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