Iowa Corporate Central Credit Union, Allen Hospital Personnel Credit in Waterloo, Iowa (IA)

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Iowa Corporate Central Credit Union, Allen Hospital Personnel Credit
Employer Identification Number (EIN)510219910
Name of OrganizationIowa Corporate Central Credit Union
Secondary NameAllen Hospital Personnel Credit
Address1825 Logan Ave, Waterloo, IA 50703-1916
ActivitiesEndowment fund or financial services, Loans or credit reporting, Other services or benefits to members or employees
SubsectionCredit Union
Ruling Date06/2007
DeductibilityContributions are not deductible
FoundationAll organizations except 501(c)(3)
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2005
Assets$50,000,000 to greater
Income$50,000,000 to greater
Filing Requirement990 - Group return
Asset Amount$5,565,746,200
Amount of Income$339,962,085
Form 990 Revenue Amount$339,962,085
National Taxonomy of Exempt Entities (NTEE)Public, Society Benefit - Multipurpose and Other: Credit Unions


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Amount of income in 2005: $339,962,085
Iowa Corporate Central Credit Union, Allen Hospital Personnel Credit: 

 $339,962,085
Other organizations performing similar types of work: 

 $1,062,274

Assets in 2005: $5,565,746,200
Iowa Corporate Central Credit Union, Allen Hospital Personnel Credit: 

 $5,565,746,200
Other organizations performing similar types of work: 

 $21,351,397

Expenses in 2004: $273,779,215
This organization: 

 $273,779,215
Other organizations performing similar types of work: 

 $2,711,411

Income to expenses ratio in 2004: 1.1
This organization: 

 1.1
Other organizations performing similar types of work: 

 1.1

Financial snapshot ($)

Revenue for 2004

Assets at end of 2004

Income-Producing Activities for 2004

Revenue, Expenses, and Changes in Net Assets or Fund Balances
20002001200220032004
Total revenue$306,161,374$324,152,017$318,404,115$314,969,577$312,529,743
Contributions, gifts, grants, and similar amounts received$0$0$0$0$0
Contributions to donor advised funds
Direct public support$0$0$0$0$0
Indirect public support$0$0$0$0$0
Government contributions (grants)$0$0$0$0$0
Program service revenue including government fees and contracts$229,183,770$238,593,411$228,741,568$221,854,347$219,260,313
Membership dues and assessments$0$0$0$0$0
Interest on savings and temporary cash investments$0$0$0$0$0
Dividends and interest from securities$0$0$0$0$0
Net rental income or (loss)$0$0$0$0$0
Gross rents$0$0$0$0$0
Less: rental expenses$0$0$0$0$0
Other investment income$42,911,196$41,181,345$38,884,042$32,028,756$32,714,030
Gain or (loss) from sales of assets other than inventory$-310,867$516,274$1,477,653$1,561,803$122,145
Gross amount from sales of assets other than inventory$0$516,274$1,477,653$1,561,803$122,145
Less: cost or other basis and sales expenses$310,867$0$0$0$0
Net income or (loss) from special events and activities$0$0$0$0$0
Gross revenue$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0
Other revenue$34,377,275$43,860,987$49,300,852$59,524,671$60,433,255
Total expenses$274,121,718$289,411,163$270,952,365$270,713,428$273,779,215
Program services$0$0$0$0$0
Management and general$0$0$0$0$0
Fundraising$0$0$0$0$0
Payments to affiliates$0$0$0$0$0
Net assets or fund balances at end of year$412,773,753$450,068,314$505,510,212$541,894,985$576,692,411
Excess or (deficit) for the year$32,039,656$34,740,854$47,451,750$44,256,149$38,750,528
Net assets or fund balances at beginning of year$380,161,917$412,773,753$450,068,314$505,510,212$541,894,985
Other changes in net assets or fund balances$572,180$2,553,707$7,990,148$-7,871,376$-3,953,102
Statement of Functional Expenses (for 2004)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$273,779,215$0$0$0
Grants paid from donor advised funds
Other grants and allocations$0
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$0$0$0$0
Compensation of former officers, directors, key employees, etc.
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)
Salaries and wages of employees not included above$95,840,716$0$0$0
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$0$0$0$0
Payroll taxes$0$0$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$18,184,950$0$0$0
Legal fees$0$0$0$0
Supplies$0$0$0$0
Telephone$0$0$0$0
Postage and shipping$0$0$0$0
Occupancy$13,843,122$0$0$0
Equipment rental and maintenance$0$0$0$0
Printing and publications$0$0$0$0
Travel$2,628,726$0$0$0
Conferences, conventions, and meetings$0$0$0$0
Interest$67,582,793$0$0$0
Depreciation, depletion, etc.$0$0$0$0
Other expenses not covered above$75,698,908$0$0$0
Balance Sheets
20002001200220032004
Total assets$3,913,292,408$4,454,078,269$4,829,392,425$5,254,593,296$5,468,116,875
Cash - non-interest-bearing$79,289,765$90,404,238$112,634,527$138,759,841$122,753,774
Savings and temporary cash investments$0$0$0$0$0
Accounts receivable less allowance for doubtful accounts$0$0$0$0$0
Pledges receivable less allowance for doubtful accounts$0$0$0$0$0
Grants receivable$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)
Other notes and loans receivable less allowance for doubtful accounts$2,765,504,402$2,799,111,658$3,086,882,191$3,407,508,747$3,629,977,416
Inventories for sale or use$0$0$0$0$0
Prepaid expenses and deferred charges$0$0$0$0$0
Investments - publicly-traded securities
Investments - other securities$0$0$0$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0
Investments - other$912,910,265$1,368,405,377$1,428,651,577$1,501,344,468$1,489,923,576
Land, buildings, and equipment less accumulated depreciation$84,409,515$98,058,966$110,189,741$120,084,330$133,896,712
Other assets, including program-related investments$71,178,461$98,098,030$91,034,389$86,895,910$91,565,397
Total liabilities$3,500,518,655$4,004,009,955$4,323,882,213$4,712,698,311$4,891,424,464
Accounts payable and accrued expenses$36,979,705$42,118,730$43,952,938$46,415,427$43,087,708
Grants payable$0$0$0$0$0
Deferred revenue$0$0$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0
Mortgages and other notes payable$135,099,356$105,055,532$109,973,395$148,716,797$140,482,249
Other liabilities$3,328,439,594$3,856,835,693$4,169,955,880$4,517,566,087$4,707,854,507
Total liabilities and net assets/fund balances$3,913,292,408$4,454,078,269$4,829,392,425$5,254,593,296$5,468,116,875
Total net assets or fund balances$412,773,753$450,068,314$505,510,212$541,894,985$576,692,411
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20002001200220032004
Total revenue$0$0$0$0$0
Total revenue, gains, and other support per audited financial statements$0$0$0$0$0
Other expenses$0$0$0$0$0
Net unrealized gains on investments$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0
Other$0$0$0$0$0
Other revenue$0$0$0$0$0
Investment expenses$0$0$0$0$0
Other$0$0$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20002001200220032004
Total expenses$0$0$0$0$0
Total expenses and losses per audited financial statements$0$0$0$0$0
Other revenue$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0
Prior year adjustments$0$0$0$0$0
Losses$0$0$0$0$0
Other$0$0$0$0$0
Other expenses$0$0$0$0$0
Investment expenses$0$0$0$0$0
Other$0$0$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings0
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?
Does the organization have a written conflict of interest policy?
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?No
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?No
Did the organization make only in-house lobbying expenditures of $2,000 or less?No
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?No
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?
Did the organization acquire a direct or indirect interest in any applicable insurance contract?
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?
Number of employees employed in the pay period that includes March 12, 20060
Analysis of Income-Producing Activities (for 2004)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$0$312,529,743
Program service revenue
Program service revenue 1000000$000$0$219,260,313
Program service revenue 2000000$000$0$0
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$000$0$0
Dividends and interest from securities000000$000$0$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$32,714,030
Gain or (loss) from sales of assets other than inventory000000$000$0$122,145
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$60,433,255
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2004)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2004)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2004)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?
Did the organization maintain any donor advised funds?
Did the organization make any taxable distributions under section 4966?
Did the organization make a distribution to a donor, donor advisor, or related person?
The total number of donor advised funds owned at the end of the tax year
The aggregate value of assets held in all donor advised funds owned at the end of the tax year
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts
The aggregate value of assets held in all funds or accounts included above at the end of the tax year
Reason for Non-Private Foundation Status
The organization is not a private foundation because it is
Support Schedule
19992000200120022003
Total$0$0$0$0$0
Gifts, grants, and contributions received$0$0$0$0$0
Membership fees received$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$0$0$0$0$0
Net income from unrelated business activities not included above$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0
Other income$0$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2004)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Veridian Credit Union1827 Ansborough Ave, Waterloo, IA 50701-3629IA2007-06$257,259,797
2Iowa Corporate Central Credit Union, Iowa City Branch-American Assoc Of University Wome134 Broadmoor Ln, Iowa City, IA 52245IA2007-06$93,475,974
3Collins Community Credit Union, Non Non305 Trailridge Rd Se, Cedar Rapids, IA 52403IA2007-06$30,907,566
4Ascentra Credit UnionPO BOX 1107, Bettendorf, IA 52722-0019IA2007-06$18,373,355
5Community Choice Credit Union, 0430 Community Choice Credit Union8404 Nw 62nd Ave, Johnston, IA 50131-2946IA2007-06$18,104,972
6Greater Iowa Credit UnionPO BOX 665, Ames, IA 50010-0665IA2007-06$14,597,738
7Iowa Corporate Central Credit Union, 0302 Citizens Community Credit Unio2012 1st Ave S, Fort Dodge, IA 50501-6704IA2007-06$11,652,317
8Iowa Corporate Central Credit Union, 0225 The Family Credit Union1530 W 53rd St, Davenport, IA 52806-2440IA2007-06$6,853,446
9Iowa Corporate Central Credit Union, Members1st Community Credit Union910 S 12th Ave, Marshalltown, IA 50158-3605IA2007-06$6,123,047
10Iowa Corporate Central Credit Union, 0339 Telco Triad Community C U1420 Tri View Ave, Sioux City, IA 51103-5212IA2007-06$5,128,395
11Iowa Corporate Central Credit Union, 1st Gateway Credit UnionPO BOX 110, Camanche, IA 52730-0110IA2007-06$4,402,794
12Cedar Falls Community Credit Union, 520 Cedar Falls Community Credit Un123 W 4th St, Cedar Falls, IA 50613-2831IA2007-06$4,355,638
13Iowa Community Credit Union3301 Cedar Heights Dr, Cedar Falls, IA 50613-6041IA2007-06$4,191,312
14Iowa Corporate Central Credit Union, 203 Members Choice Community Credit1116 S 14th St, Clinton, IA 52732-6406IA2007-06$3,814,393
15Iowa Corporate Central Credit Union, 477 N Iowa Community Cred Un640 S Federal Ave, Mason City, IA 50401-5059IA2007-06$3,530,987
16Employees Credit Union2714 Central Ave, Estherville, IA 51334-2779IA2007-06$3,016,670
17Iowa Corporate Central Credit Union, 447 Tradesmen Community Credit UnioPO BOX 1496, Des Moines, IA 50305-1496IA2007-06$2,624,781
18Iowa Corporate Central Credit Union, 0590 River Valley Credit Union2811 E 13th St, Ames, IA 50010-8610IA2007-06$2,309,220
19Midland Credit Union2891 106th St, Urbandale, IA 50322-3772IA2007-06$2,062,744
20Casebine Community Credit Union2115 Des Moines Ave, Burlington, IA 52601-4444IA2007-06$1,793,783
Number of organizations performing similar types of work
Alabama2
Arizona1
California11
Florida1
Georgia54
Iowa135
Idaho2
Illinois53
Kansas2
Kentucky1
Massachusetts1
Missouri1
Mississippi3
North Dakota1
New Jersey1
Nevada1
New York1
Oklahoma3
Oregon1
Pennsylvania3
Rhode Island1
Tennessee1
Texas2
Virginia2
Washington2
Wisconsin2
International4
Total292
20 biggest affiliated organizations
AffiliationNameAddressStateEstablishedTotal Income
SubordinateIowa Corporate Central Credit Union, Allen Hospital Personnel Credit1825 Logan Ave, Waterloo, IA 50703-1916IA2007-06$339,962,085
SubordinateCredit Union In The State Of Iowa, Iowa Corp Central Cu Group Return1500 Nw 118th St, Des Moines, IA 50325-8242IA2007-06$230,940,314
SubordinateDupaco Community Credit UnionPO BOX 179, Dubuque, IA 52004-0179IA2007-06$97,743,775
SubordinateIowa Corporate Central Credit Union, Iowa City Branch-American Assoc Of University Wome134 Broadmoor Ln, Iowa City, IA 52245IA2007-06$93,475,974
SubordinateCollins Community Credit Union, Non Non305 Trailridge Rd Se, Cedar Rapids, IA 52403IA2007-06$30,907,566
SubordinateCommunity 1st Credit Union235 Richmond Ave, Ottumwa, IA 52501-4227IA2007-06$20,932,102
SubordinateAscentra Credit UnionPO BOX 1107, Bettendorf, IA 52722-0019IA2007-06$18,373,355
SubordinateCommunity Choice Credit Union, 0430 Community Choice Credit Union8404 Nw 62nd Ave, Johnston, IA 50131-2946IA2007-06$18,104,972
SubordinateGreater Iowa Credit UnionPO BOX 665, Ames, IA 50010-0665IA2007-06$14,597,738
SubordinateIowa Corporate Central Credit Union, 0302 Citizens Community Credit Unio2012 1st Ave S, Fort Dodge, IA 50501-6704IA2007-06$11,652,317
SubordinateIowa Corporate Central Credit Union, 0225 The Family Credit Union1530 W 53rd St, Davenport, IA 52806-2440IA2007-06$6,853,446
SubordinateIowa Corporate Central Credit Union, Members1st Community Credit Union910 S 12th Ave, Marshalltown, IA 50158-3605IA2007-06$6,123,047
SubordinateIowa Corporate Central Credit Union, 0339 Telco Triad Community C U1420 Tri View Ave, Sioux City, IA 51103-5212IA2007-06$5,128,395
SubordinatePremier Credit Union, 0130 Principal Employees Credit Uni800 9th St, Des Moines, IA 50309-1202IA2007-06$4,909,525
SubordinateAffinity Credit Union, 0369 Affinity Credit Union475 Nw Hoffman Ln, Des Moines, IA 50313-2261IA2007-06$4,625,078
SubordinateIowa Corporate Central Credit Union, 1st Gateway Credit UnionPO BOX 110, Camanche, IA 52730-0110IA2007-06$4,402,794
SubordinateCedar Falls Community Credit Union, 520 Cedar Falls Community Credit Un123 W 4th St, Cedar Falls, IA 50613-2831IA2007-06$4,355,638
SubordinateFinancial Plus Credit Union1831 25th St, Wdm, IA 50266-1416IA2007-06$4,294,322
SubordinateIowa Community Credit Union3301 Cedar Heights Dr, Cedar Falls, IA 50613-6041IA2007-06$4,191,312
SubordinateIowa Corporate Central Credit Union, 203 Members Choice Community Credit1116 S 14th St, Clinton, IA 52732-6406IA2007-06$3,814,393
Number of affiliated organizations
Iowa136
Total136

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