Blackhawk Area Cu
- Assets
- $44.1m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 24
- Location
- Savanna, IL
- Founding
- 08/1960
- Data as of
- 12/2021
- EIN
- 36-6091357
Organization Overview
Blackhawk Area Cu is located in Savanna, IL. The organization was established in 1960. According to its NTEE Classification (A23) the organization is classified as: Cultural & Ethnic Awareness, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Blackhawk Area Cu employed 24 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Blackhawk Area Cu is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.
For the year ending 12/2021, Blackhawk Area Cu generated $1.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $1.5m during the year ending 12/2021. While expenses have increased by 1.3% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
CREDIT UNION OPERATED FOR MUTUAL PURPOSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE SERVE 4,118 MEMBERS WITH SAVINGS ACCOUNTS AND DIVIDEND RATES HIGHER THAN AREA COMPETITORS.
WE HAVE A TOTAL OF 1,447 OUTSTANDING MEMBER CONSUMER LOANS.
WE HAVE A TOTAL OF 237 OUTSTANDING MEMBER MORTGAGE AND/OR HELOC LOANS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rhonda Schroeder CEO | Officer | 40 | $99,700 |
Melanie Macy Credit Manager | Officer | 40 | $48,513 |
Marleen Andersen Board Member | Trustee | 0 | $0 |
Debbi Hunter Treasurer | Trustee | 0 | $0 |
James Karr Board Member | Trustee | 0 | $0 |
Steve Venhuizen Board Member | Trustee | 0 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $1,686,423 |
| Investment income | $33,941 |
| 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 | $1,720,364 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $148,213 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $378,378 |
| Pension plan accruals and contributions | $73,161 |
| Other employee benefits | $112,197 |
| Payroll taxes | $42,466 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $35,042 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $25,959 |
| Office expenses | $157,348 |
| Information technology | $89,418 |
| Royalties | $0 |
| Occupancy | $71,578 |
| Travel | $7,830 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $51 |
| Interest | $0 |
| Payments to affiliates | $13,817 |
| Depreciation, depletion, and amortization | $36,086 |
| Insurance | $34,587 |
| All other expenses | $0 |
| Total functional expenses | $1,484,181 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,220,143 |
| Savings and temporary cash investments | $9,467,581 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $273,688 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $27,568,207 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $232,424 |
| Net Land, buildings, and equipment | $239,919 |
| Investments—publicly traded securities | $3,619,495 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $486,882 |
| Total assets | $44,108,339 |
| Accounts payable and accrued expenses | $143,035 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $41,042,788 |
| Total liabilities | $41,185,823 |
| 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 | $2,922,516 |
| Total liabilities and net assets/fund balances | $44,108,339 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Xilin Association Naperville, IL | $12,598,831 | $16,219,708 |
Great Lakes Inter-Tribal Council Inc Lac Du Flambeau, WI | $2,692,230 | $12,711,243 |
Madam Walker Legacy Center Indianapolis, IN | $11,815,867 | $1,800,443 |
National Museum Of Mexican Art Chicago, IL | $19,674,194 | $15,502,542 |
Cityserve International Springfield, MO | $3,073,627 | $2,894,245 |
Instituto Cervantes Of Chicago Inc Chicago, IL | $741,739 | $2,489,461 |
The Alliance Francaise French House Of Chicago Chicago, IL | $5,091,056 | $2,088,000 |
Blackhawk Area Cu Savanna, IL | $44,108,339 | $1,720,364 |
Puerto Rican Arts Alliance Chicago, IL | $5,828,545 | $2,540,329 |
The National Museum Of Puerto Rican Arts And Culture Chicago, IL | $8,152,716 | $2,503,474 |
Hispanic-American Construction Industry Association Chicago, IL | $735,168 | $1,371,038 |
Siouxland Expo Center Sioux City, IA | $20,203,719 | $764,942 |