Iowa Credit Union League
- Assets
- $106.2m
- Revenue
- $1.3m
- Investments
- $95.4m
- Employees
- 8
- Location
- West Des Moines, IA
- Founding
- 08/1944
- Data as of
- 12/2021
- EIN
- 83-0494970
Organization Overview
Iowa Credit Union League is located in West Des Moines, IA. The organization was established in 1944. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Iowa Credit Union League employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Iowa Credit Union League is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Iowa Credit Union League generated $1.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.4%) each year. All expenses for the organization totaled $3.8m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO STRENGTHEN THE CREDIT UNION MOVEMENT BY PROMOTING ITS GROWTH AND WELL-BEING, AND PROVIDING THE TOOLS FOR MEMBERS TO SUCCEED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Helen Pearce Chairman (until 9/21) | OfficerTrustee | 1 | $0 |
Matt Dodds Chairman | OfficerTrustee | 1 | $0 |
Scott Zahnle Vice Chairman | OfficerTrustee | 1 | $0 |
Murray Williams CEO | Officer | 10 | $0 |
Michael J Powers CFO | Officer | 8 | $0 |
Greg Hanshaw Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hawthorne Building Llc Office Rent | 12/30/21 | $515,045 |
Viclarity Llc Compliance Consulting | 12/30/21 | $417,236 |
Policyworks-iowa Lobbying & Public Affairs | 12/30/21 | $611,717 |
Onmedia Advertising Sales Advertising | 12/30/21 | $121,186 |
Credit Union National Association National Trade Association For Credit Un | 12/30/21 | $562,012 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $231,794 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $231,794 |
| Total Program Service Revenue | $1,056,797 |
| Investment income | $20,083 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,308,674 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,693 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $248,264 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $56,548 |
| Pension plan accruals and contributions | $14,501 |
| Other employee benefits | $36,111 |
| Payroll taxes | $24,738 |
| Fees for services: Management | $579,666 |
| Fees for services: Legal | $99,133 |
| Fees for services: Accounting | $116,916 |
| Fees for services: Lobbying | $1,105,527 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,684 |
| Advertising and promotion | $160,482 |
| Office expenses | $22,627 |
| Information technology | $35,899 |
| Royalties | $0 |
| Occupancy | $33,074 |
| Travel | $30,054 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $472,904 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,956 |
| All other expenses | $21,997 |
| Total functional expenses | $3,821,975 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,959,401 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $13,519 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $47,294 |
| Net Land, buildings, and equipment | $66,938 |
| Investments—publicly traded securities | $172,500 |
| Investments—other securities | $95,411,736 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,522,050 |
| Total assets | $106,193,438 |
| Accounts payable and accrued expenses | $822,085 |
| Grants payable | $0 |
| Deferred revenue | $163,043 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $83,740 |
| Total liabilities | $1,068,868 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $105,124,570 |
| Total liabilities and net assets/fund balances | $106,193,438 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Iowa Credit Union League has recieved totaling $37,000.
| Awarding Organization | Amount |
|---|---|
Dupaco Community Credit Union Dubuque, IA | | $27,000 |
Collins Community Credit Union Cedar Rapids, IA PURPOSE: GENERAL SUPPORT | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Illinois Community Credit Union Champaign, IL | $475,743,912 | $22,792,231 |
Land Of Lincoln Credit Union Decatur, IL | $357,439,691 | $20,389,555 |
Southpoint Financial Credit Union Sleepy Eye, MN | $509,297,128 | $21,366,397 |
Heritage Credit Union Deforest, WI | $461,320,772 | $20,193,229 |
Siu Credit Union Carbondale, IL | $404,439,735 | $19,509,001 |
Healthcare Associates Credit Union Naperville, IL | $470,519,753 | $19,024,406 |
Financial Plus Credit Union Ottawa, IL | $450,128,379 | $18,435,940 |
Streator Onized Credit Union Streator, IL | $322,868,914 | $20,466,912 |
Arsenal Credit Union Arnold, MO | $349,876,786 | $18,878,245 |
Kane County Teachers Credit Union Elgin, IL | $376,184,077 | $16,257,755 |
First Alliance Credit Union Stewartville, MN | $266,858,268 | $15,921,045 |
First Northern Credit Union Chicago, IL | $376,782,772 | $14,919,062 |