Michigan Credit Union League
- Assets
- $87.2m
- Revenue
- $5.4m
- Investments
- $67.3m
- Employees
- 27
- Location
- Plymouth, MI
- Founding
- 01/1944
- Data as of
- 12/2022
- EIN
- 38-0826778
Organization Overview
Michigan Credit Union League is located in Plymouth, MI. The organization was established in 1944. According to its NTEE Classification (W03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2022, Michigan Credit Union League employed 27 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Michigan 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 12/2022, Michigan Credit Union League generated $5.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $5.3m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Michigan Credit Union League has awarded 20 individual grants totaling $355,395. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE ADVOCACY AND SUPPORT TO HELP CREDIT UNIONS SUCCEED AND ENRICH THE LIVES OF THEIR MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OFFER SUPPORT AND PROVIDE ADVOCACY TO AFFILIATED CREDIT UNIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Heather Luciani Chair | OfficerTrustee | 0.5 | $0 |
Dean Trudeau Vice Chair/at Large Director | OfficerTrustee | 0.5 | $0 |
Carma Peters Treasurer/secretary/director | OfficerTrustee | 0.5 | $0 |
Chrissy Siders Alternate Director | Trustee | 0.5 | $0 |
Andy Kempf Director | Trustee | 0.5 | $0 |
Mark Richter Alternate Director Thru 6/2022 | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Regroup Media And Creative Services | 12/30/22 | $232,847 |
Cusg Marketing Solutions Llc Media And Creative Services | 12/30/22 | $113,750 |
Power Plus Sound & Lighting Audio Visual Services | 12/30/22 | $106,917 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $689,514 |
| 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 | $689,514 |
| Total Program Service Revenue | $2,799,390 |
| Investment income | $608,319 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,235,251 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,384,543 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $126 |
| 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. | $714,751 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,151,708 |
| Pension plan accruals and contributions | $53,344 |
| Other employee benefits | $72,164 |
| Payroll taxes | $121,613 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $15,988 |
| Fees for services: Accounting | $76,638 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $17,902 |
| Fees for services: Other | $592,845 |
| Advertising and promotion | $81,629 |
| Office expenses | $100,789 |
| Information technology | $12,299 |
| Royalties | $0 |
| Occupancy | $21,800 |
| Travel | $151,507 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $689,994 |
| Interest | $3,939 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $118,581 |
| Insurance | $3,580 |
| All other expenses | $0 |
| Total functional expenses | $5,285,000 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,962,277 |
| Savings and temporary cash investments | $306,816 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $14,589 |
| 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 | $256,862 |
| Net Land, buildings, and equipment | $293,857 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $67,316,140 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $16,050,721 |
| Total assets | $87,201,262 |
| Accounts payable and accrued expenses | $1,263,833 |
| Grants payable | $0 |
| Deferred revenue | $354,372 |
| 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 | $560,830 |
| Total liabilities | $2,179,035 |
| Net assets without donor restrictions | $85,022,227 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $87,201,262 |
Grants Awarded
Over the last fiscal year, Michigan Credit Union League has awarded $35,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
MICHIGAN CREDIT UNION FOUNDATION PURPOSE: PARTICIPATION IN EDUCATIONAL/LEADERSHIP OPPORTUNITIES FOR MI CU STAFF AND VOLUNTEERS. | $15,000 |
NATIONAL CREDIT UNION FOUNDATION PURPOSE: SUPPORT FOR CREDIT UNION MOVEMENT-INSPIRE CHANGE, IGNITE PASSION, AND RESPOND TO DISASTER | $15,000 |
COALITION TO INTEGRATE TECHNOLOGY PURPOSE: SPONSORSHIP SHERRY GAY-DAGNOGO DETROIT CHARITY EVENT | $5,000 |