Illinois Credit Union Foundation

Organization Overview

Illinois Credit Union Foundation is located in Naperville, IL. The organization was established in 0000. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Illinois Credit Union Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 12/2021, Illinois Credit Union Foundation generated $223.0k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.5% each year. All expenses for the organization totaled $118.7k during the year ending 12/2021. While expenses have increased by 3.9% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

PROMOTE CHARITABLE AND EDUCATIONAL GOALS AS THEY RELATE TO STATE AND FEDERALLY CHARTERED CREDIT UNIONS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

GRANTS TO SMALL CREDIT UNIONS INCLUDING SCHOLARSHIP FUNDING AND SPECIAL PROJECTS PROMOTING CREDIT UNIONS IN ILLINOIS.


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Board, Officers & Key Employees

Name (title)Compensation
John Fiore
Chairman
$0
Michelle Balog
Secretary
$0
Lou Bicanic
Vice Chairman
$0
Melanie Murphy
Executive Director
$0
Geraldine Burek
Director
$0
Wendy Erhart
Director
$0

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$187,261
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$187,261
Total Program Service Revenue$0
Investment income $561
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $35,194
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $223,016

Grants Awarded

Over the last fiscal year, Illinois Credit Union Foundation has awarded $86,374 in support to 3 organizations.

Grant RecipientAmount

VARIOUS

PURPOSE: Various grants under 5,000

$73,374

BLOOMINGTON MUNICIPAL CU

Org PageRecipient Profile

Bloomington, IL

PURPOSE: Scholarships Small CU Development Emergency Relief

$7,500

HEIGHTS AUTO WORKERS CU

PURPOSE: Small CU Development and Scholarship

$5,500
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 2 grants that Illinois Credit Union Foundation has recieved totaling $5,583.

Awarding OrganizationAmount
Ih Mississippi Valley Credit Union

Moline, IL

PURPOSE: CORPORATE DONATION

$5,500
Amazonsmile Foundation

Seattle, WA

PURPOSE: GENERAL SUPPORT

$83
View Grant Recipient Profile

Peer Organizations

Organization NameAssets
Ih Mississippi Valley Credit Union
Moline, IL
$105,810,576
Commonwealth Credit Union
Frankfort, KY
$88,350,902
Department Of Financial Institution Division Of Credit Unions In Ind
Columbus, IN
$88,438,069
Forum Credit Union
Indianapolis, IN
$93,129,055
Scott Credit Union
Edwardsville, IL
$74,654,217
Deere Employees Credit Union
Moline, IL
$82,112,773
Credit Union 1
Rantoul, IL
$72,991,911
Interra Credit Union
Goshen, IN
$68,430,398
Park Community Credit Union Inc
Louisville, KY
$53,014,034
Beacon Credit Union
Wabash, IN
$47,143,377
Vibrant Credit Union
Moline, IL
$50,336,419
Indiana University Credit Union
Bloomington, IN
$48,794,263

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