{"success":true,"data":{"_id":421049588,"filings":[{"Organization":{"Hours":[0],"Total Compensation":[0],"Direct compensation":[0],"Other compensation":[0]},"Basic":{"mission":"To provide quality, wholesale financial services for the benefit of iowa credit union members.","primary_activities":"Iowa corporate central credit union (iowa corporate) serves credit unions in the state of iowa. As a correspondent financial institution, iowa corporate provides a wide variety of wholesale financial services to its members. These services include deposit options, lending products, correspondent services, funds transfer services, and settlement services.1) correspondent servicesautomated clearing house (ach)ach allows a credit union to receive electronic payments on behalf of its members. It is a convenient way for the credit union's members to have their government checks or payroll checks directly deposited into their accounts, to have their loan payments automatically made, or various other types of electronic transactions. Iowa corporate receives these items and posts them to their iowa settlement account through automated settlement.automated settlementautomated settlement services provide an electronic method for settling a variety of credit union services. Examples include ach, member share drafts, debit/credit cards, its, american express, cuna supply and a variety of other services. Rather than establishing separate settlement relationships with several vendors, the credit union can consolidate their vendor settlement into their iowa settlement account. All settlement activity is detailed on the credit union's statement, which provides a convenient method of account reconciliation.branch capture iowa corporate offers branch capture which is the process of capturing and truncating check transactions as early in the clearing process as possible. Branch capture enables members to submit checks to iowa corporate electronically for settlement as opposed to transporting items to des moines, saving time and courier costs.corporate share draftsthe iowa corporate share draft program offers a convenient way for credit unions to pay bills, issue member loans, and issue share withdrawals from their members' accounts. The credit union earns interest on the funds in its iowa settlement account until the draft clears. Iowa corporate share drafts are drawn on the credit union's own routing number, which makes the draft an \"on-us\" item instead of a \"payable through.\"international draftsinternational drafts provide another option for credit unions needing to send a foreign currency payment. Sending an international draft is less expensive than sending an international wire. Since the draft is issued in the currency of the country where the payee resides, it also saves time and is less expensive for the payee.coin and currencyiowa corporate offers settlement of coin and currency through its account with the fed. Settlement and billing for the purchase can be made from the credit union's iowa settlement account.2) funds transfer serviceswire transfersa wire transfer is the best method for credit unions to move funds from one financial institution to another on a same-day basis. Iowa corporate offers both domestic and international wire transfer services.member-to-member transfersmember-to-member transfers provide an easy and a more economical way of transferring funds from one credit union's account to another credit union's account as long as they are both members of iowa corporate.cash concentration/automatic debit transfercash concentration (cncc) and automatic debit transfer (adt) are effective, economical ways for credit unions to make repetitive transfers and manage their excess funds. Through cncc, a credit union can move funds from a financial institution to iowa corporate. With adt, a credit union can move funds from iowa corporate back to another financial institution. Both cncc and adt are performed via telephone and are available 24 hours a day, 365 days a year. Through either touch-tone instructions or voice-initiated transactions with a live operator, a credit union initiates these transactions to move funds for next-day availability.3) cd accesscd access is an online certificates of deposit purchasing solution developed by iowa corporate that connects a credit union with a national network of more than 1400 financial institutions who buy and sell cds.4) loans iowa corporate offers an overdraft loan which is a limited line of credit to fund late day member requested wire outs that occur after the normal wire out cutoff time.","year":2010,"name":"IOWA CORPORATE CENTRAL CREDIT UNION","phone":"5154575222","website":"HTTP://WWW.IOWACORPORATE.ORG","type":"990","principal_officer":"SARA FLYNN","year_formation":1975,"state_legal_domicile":"IA","total_volunteers":9,"tax_period_begin":"2010-01-01T00:00:00","tax_period_end":"2010-12-31T00:00:00","address":"1500 NW 118TH ST, DES MOINES, IA, 50325, USA","city":"DES MOINES","state":"IA","country":"USA","zip_code":"50325"},"Governance":{"501c determination":true,"Number of voting members":9,"Number of independent voting members":8,"Number of employees total":0,"Total Gross UBI":0,"Net unrelated business taxable income":0,"Number of employees":0,"Prohibited tax shelter transactions":false,"Taxable party notification":false,"Family or business relationship":true,"Delegation of management duties":true,"Conflict of interest policy":true,"Whistle blower policy":true,"Compensation process for CEO":false,"Compensation process for other employees":false,"Changes to organizing documents":false,"Material diversion or misuse":false,"Members or stockholders":true,"Election of board members":true,"Decisions subject to approval":true,"Minutes of governing body":true,"Local chapters":false,"Form 990 provided to governing body":true,"Document retention policy":true,"Investment in joint venture":false,"Independent audit financial statements":true,"Consolidated audit financial statements":false,"Accountant compile or review":false,"Financial statements audited by independent accountant":true,"Audit committee":true,"Federal grant audit required":false,"Political activities":false,"Donor advised funds":false,"Conservation easements":false,"Collections of art":false,"School":false,"Hospital":false,"Foreign activities":false,"Foreign office":false,"Gaming":false,"Fundraising activities":false,"Professional fundraising":false,"Loan to officer or DQP":false,"Grant to related person":false,"Business relationship through family member":false,"Business relationship with organization":false},"Revenues":{"value":2350423,"Contributions":{"value":0},"Program revenue":{"value":1718521,"Total revenue":{"value":1718521,"VARIOUS":1718521},"Unrelated business revenue":0},"Investment income":{"value":612740,"Investment income total":612722,"Net investment gain":18},"Other revenues":{"value":19162,"Other total":19162}},"Expenses":{"value":2401003,"Grant expense":{"value":0},"Total professional fundraising expense":{"value":0},"Benefits paid to members":{"value":0},"Salaries":{"value":315236,"Current officers":271134,"Other salaries and wages":27376,"Payroll taxes":16726},"Other expenses":{"value":2085767,"Management services":541992,"Legal":9878,"Accounting":50125,"Advertising":2174,"Office expenses":28131,"Information technology":3600,"Occupancy":16380,"Travel":10179,"Conferences and meetings":4632,"Interest":69650,"Depreciation and depletion":2400,"Insurance":36910,"Itemized Expenses":{"value":1309566,"VARIOUS":1309566},"All other expenses":150}},"Assets":{"value":160923217,"Non-interest bearing cash":1409040,"Savings and temp cash investments":52851585,"Investments program related":106504104,"Other assets":158488},"Liabilities":{"value":155547650,"Accounts payable, accrued":157601,"Other liabilities":155390049},"Fund balance":{"value":5375567},"Form990Details":{"program_service_accomplishments":[{"description":"IOWA CORPORATE CENTRAL CREDIT UNION (IOWA CORPORATE) SERVES CREDIT UNIONS IN THE STATE OF IOWA. AS A CORRESPONDENT FINANCIAL INSTITUTION, IOWA CORPORATE PROVIDES A WIDE VARIETY OF WHOLESALE FINANCIAL SERVICES TO ITS MEMBERS. THESE SERVICES INCLUDE DEPOSIT OPTIONS, LENDING PRODUCTS, CORRESPONDENT SERVICES, FUNDS TRANSFER SERVICES, AND SETTLEMENT SERVICES.1) CORRESPONDENT SERVICESAUTOMATED CLEARING HOUSE (ACH)ACH ALLOWS A CREDIT UNION TO RECEIVE ELECTRONIC PAYMENTS ON BEHALF OF ITS MEMBERS. IT IS A CONVENIENT WAY FOR THE CREDIT UNION'S MEMBERS TO HAVE THEIR GOVERNMENT CHECKS OR PAYROLL CHECKS DIRECTLY DEPOSITED INTO THEIR ACCOUNTS, TO HAVE THEIR LOAN PAYMENTS AUTOMATICALLY MADE, OR VARIOUS OTHER TYPES OF ELECTRONIC TRANSACTIONS. IOWA CORPORATE RECEIVES THESE ITEMS AND POSTS THEM TO THEIR IOWA SETTLEMENT ACCOUNT THROUGH AUTOMATED SETTLEMENT.AUTOMATED SETTLEMENTAUTOMATED SETTLEMENT SERVICES PROVIDE AN ELECTRONIC METHOD FOR SETTLING A VARIETY OF CREDIT UNION SERVICES. EXAMPLES INCLUDE ACH, MEMBER SHARE DRAFTS, DEBIT/CREDIT CARDS, ITS, AMERICAN EXPRESS, CUNA SUPPLY AND A VARIETY OF OTHER SERVICES. RATHER THAN ESTABLISHING SEPARATE SETTLEMENT RELATIONSHIPS WITH SEVERAL VENDORS, THE CREDIT UNION CAN CONSOLIDATE THEIR VENDOR SETTLEMENT INTO THEIR IOWA SETTLEMENT ACCOUNT. ALL SETTLEMENT ACTIVITY IS DETAILED ON THE CREDIT UNION'S STATEMENT, WHICH PROVIDES A CONVENIENT METHOD OF ACCOUNT RECONCILIATION.BRANCH CAPTURE IOWA CORPORATE OFFERS BRANCH CAPTURE WHICH IS THE PROCESS OF CAPTURING AND TRUNCATING CHECK TRANSACTIONS AS EARLY IN THE CLEARING PROCESS AS POSSIBLE. BRANCH CAPTURE ENABLES MEMBERS TO SUBMIT CHECKS TO IOWA CORPORATE ELECTRONICALLY FOR SETTLEMENT AS OPPOSED TO TRANSPORTING ITEMS TO DES MOINES, SAVING TIME AND COURIER COSTS.CORPORATE SHARE DRAFTSTHE IOWA CORPORATE SHARE DRAFT PROGRAM OFFERS A CONVENIENT WAY FOR CREDIT UNIONS TO PAY BILLS, ISSUE MEMBER LOANS, AND ISSUE SHARE WITHDRAWALS FROM THEIR MEMBERS' ACCOUNTS. THE CREDIT UNION EARNS INTEREST ON THE FUNDS IN ITS IOWA SETTLEMENT ACCOUNT UNTIL THE DRAFT CLEARS. IOWA CORPORATE SHARE DRAFTS ARE DRAWN ON THE CREDIT UNION'S OWN ROUTING NUMBER, WHICH MAKES THE DRAFT AN \"ON-US\" ITEM INSTEAD OF A \"PAYABLE THROUGH.\"INTERNATIONAL DRAFTSINTERNATIONAL DRAFTS PROVIDE ANOTHER OPTION FOR CREDIT UNIONS NEEDING TO SEND A FOREIGN CURRENCY PAYMENT. SENDING AN INTERNATIONAL DRAFT IS LESS EXPENSIVE THAN SENDING AN INTERNATIONAL WIRE. SINCE THE DRAFT IS ISSUED IN THE CURRENCY OF THE COUNTRY WHERE THE PAYEE RESIDES, IT ALSO SAVES TIME AND IS LESS EXPENSIVE FOR THE PAYEE.COIN AND CURRENCYIOWA CORPORATE OFFERS SETTLEMENT OF COIN AND CURRENCY THROUGH ITS ACCOUNT WITH THE FED. SETTLEMENT AND BILLING FOR THE PURCHASE CAN BE MADE FROM THE CREDIT UNION'S IOWA SETTLEMENT ACCOUNT.2) FUNDS TRANSFER SERVICESWIRE TRANSFERSA WIRE TRANSFER IS THE BEST METHOD FOR CREDIT UNIONS TO MOVE FUNDS FROM ONE FINANCIAL INSTITUTION TO ANOTHER ON A SAME-DAY BASIS. IOWA CORPORATE OFFERS BOTH DOMESTIC AND INTERNATIONAL WIRE TRANSFER SERVICES.MEMBER-TO-MEMBER TRANSFERSMEMBER-TO-MEMBER TRANSFERS PROVIDE AN EASY AND A MORE ECONOMICAL WAY OF TRANSFERRING FUNDS FROM ONE CREDIT UNION'S ACCOUNT TO ANOTHER CREDIT UNION'S ACCOUNT AS LONG AS THEY ARE BOTH MEMBERS OF IOWA CORPORATE.CASH CONCENTRATION/AUTOMATIC DEBIT TRANSFERCASH CONCENTRATION (CNCC) AND AUTOMATIC DEBIT TRANSFER (ADT) ARE EFFECTIVE, ECONOMICAL WAYS FOR CREDIT UNIONS TO MAKE REPETITIVE TRANSFERS AND MANAGE THEIR EXCESS FUNDS. THROUGH CNCC, A CREDIT UNION CAN MOVE FUNDS FROM A FINANCIAL INSTITUTION TO IOWA CORPORATE. WITH ADT, A CREDIT UNION CAN MOVE FUNDS FROM IOWA CORPORATE BACK TO ANOTHER FINANCIAL INSTITUTION. BOTH CNCC AND ADT ARE PERFORMED VIA TELEPHONE AND ARE AVAILABLE 24 HOURS A DAY, 365 DAYS A YEAR. THROUGH EITHER TOUCH-TONE INSTRUCTIONS OR VOICE-INITIATED TRANSACTIONS WITH A LIVE OPERATOR, A CREDIT UNION INITIATES THESE TRANSACTIONS TO MOVE FUNDS FOR NEXT-DAY AVAILABILITY.3) CD ACCESSCD ACCESS IS AN ONLINE CERTIFICATES OF DEPOSIT PURCHASING SOLUTION DEVELOPED BY IOWA CORPORATE THAT CONNECTS A CREDIT UNION WITH A NATIONAL NETWORK OF MORE THAN 1400 FINANCIAL INSTITUTIONS WHO BUY AND SELL CDS.4) LOANS IOWA CORPORATE OFFERS AN OVERDRAFT LOAN WHICH IS A LIMITED LINE OF CREDIT TO FUND LATE DAY MEMBER REQUESTED WIRE OUTS THAT OCCUR AFTER THE NORMAL WIRE OUT CUTOFF TIME."}],"program_service_revenue_detail":[{"business_code":"522100","description":"BANKING SERVICE FEES","total_revenue":1594598,"related_or_exempt_function_income":1594598},{"business_code":"522100","description":"MEMBERS UNITED SERVICE","total_revenue":80000,"related_or_exempt_function_income":80000},{"business_code":"522100","description":"INTEREST FROM LOANS","total_revenue":43923,"related_or_exempt_function_income":43923}],"functional_expense_allocations":{"current_officers_directors":{"total":271134},"other_salaries_and_wages":{"total":27376},"payroll_taxes":{"total":16726},"management_fees":{"total":541992},"legal_fees":{"total":9878},"accounting_fees":{"total":50125},"advertising":{"total":2174},"office_expenses":{"total":28131},"information_technology":{"total":3600},"occupancy":{"total":16380},"travel":{"total":10179},"conferences_meetings":{"total":4632},"interest":{"total":69650},"depreciation_depletion":{"total":2400},"insurance":{"total":36910},"all_other_expenses":{"total":150}},"tax_and_disclosure_flags":{"activities_conducted_through_partnership":false,"foreign_financial_account":false,"deductible_non_cash_contributions":false,"deductible_contributions_of_art":false,"method_of_accounting_accrual":true,"schedule_o_part_iii":true,"schedule_o_part_vi":true,"schedule_o_part_vii":true,"schedule_o_part_xi":true,"schedule_o_part_xii":true},"principal_officer_detail":{"person_name":"SARA FLYNN","address_line1":"1500 NW 118TH ST","city":"DES MOINES","state":"IA","zip":"50325"},"audit_financial_statement_detail":{"accountant_compile_or_review":false,"audited_financial_statement_separate":true,"federal_grant_audit_required":false},"related_party_due_diligence":{"officer_entity_with_business_relationship":true,"officer_mailing_address":false,"related_entity":false,"related_org_controlled_entity":false,"compensation_from_other_sources":true,"annual_disclosure_covered_persons":true},"grant_due_diligence":{"grants_to_organizations":false,"grants_to_individuals":false,"more_than_5000_to_organizations":false,"more_than_5000_to_individuals":false},"books_are_in_care_of":{"phone":"8002681884","business_name_line1":"SARA FLYNN","address_line1":"1500 NW 118TH ST","city":"DES MOINES","state":"IA","zip":"50325"},"contractor_compensation":[{"business_name_line1":"FEDERAL RESERVE BANK","compensation":694580,"services_description":"RESERVE EXPENSE & CHECK COLLECTIONS","address_line1":"230 SOUTH LASALLE STREET","city":"CHICAGO","state":"IL","zip":"60604","name":"FEDERAL RESERVE BANK","address":"230 SOUTH LASALLE STREET, CHICAGO, IL, 60604"},{"business_name_line1":"AFFILIATES MANAGEMENT COMPANY","compensation":370766,"services_description":"RETAINED SERVICES","address_line1":"1500 NW 118TH STREET","city":"DES MOINES","state":"IA","zip":"50325","name":"AFFILIATES MANAGEMENT COMPANY","address":"1500 NW 118TH STREET, DES MOINES, IA, 50325"},{"business_name_line1":"THE MEMBERS GROUP","compensation":247842,"services_description":"RETAINED SERVICES","address_line1":"1500 NW 118TH STREET","city":"DES MOINES","state":"IA","zip":"50325","name":"THE MEMBERS GROUP","address":"1500 NW 118TH STREET, DES MOINES, IA, 50325"},{"business_name_line1":"CORE NETWORK PROCESSING","compensation":161335,"services_description":"CUSTOM WEB & SOFTWARE DEVELOPMENT SERVIC","address_line1":"9701 RENNER BLVD SUITE 100","city":"LENEXA","state":"KS","zip":"66219","name":"CORE NETWORK PROCESSING","address":"9701 RENNER BLVD SUITE 100, LENEXA, KS, 66219"}],"officers_directors_key_employees":[{"title":"DIRECTOR","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true},{"title":"DIRECTOR","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true},{"title":"BOARD TREASURER","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"officer":true},{"title":"BOARD CHAIRMAN","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"officer":true},{"title":"BOARD VICE CHAIRMAN","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"officer":true},{"title":"DIRECTOR","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true},{"title":"DIRECTOR","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true},{"title":"BOARD SECRETARY","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"officer":true},{"title":"DIRECTOR","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true},{"title":"CFO","average_hours_per_week":2.0,"reportable_comp_from_org":93170,"reportable_comp_from_related_orgs":0,"other_compensation":38244,"officer":true},{"title":"CEO","average_hours_per_week":40.0,"reportable_comp_from_org":121883,"reportable_comp_from_related_orgs":0,"other_compensation":40947,"officer":true},{"title":"VICE PRESIDENT OF OPERATIONS","average_hours_per_week":40.0,"reportable_comp_from_org":77707,"reportable_comp_from_related_orgs":0,"other_compensation":45169,"officer":true},{"title":"VICE PRESIDENT","average_hours_per_week":1.0,"reportable_comp_from_org":278106,"reportable_comp_from_related_orgs":0,"other_compensation":58066,"officer":true},{"title":"CEO","average_hours_per_week":10.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"former":true}]},"ScheduleB":{"attached":false,"required":false},"ScheduleD":{"land_buildings_equipment":{"total_book_value":0},"program_related_investments":{"investments":[{"description":"SECURITIES AVAILABLE FOR SALE","book_value":167504,"method_of_valuation":"F"},{"description":"INVESTMENT IN CORPORATE NETWORK BROKERAGE SERVICES","book_value":83900,"method_of_valuation":"C"},{"description":"INVESTMENT IN PRIMARY FINANCIAL COMPANY","book_value":46329,"method_of_valuation":"C"},{"description":"BANK CERTIFICATES","book_value":28235067,"method_of_valuation":"C"},{"description":"MASTERCARD LOANS","book_value":26052,"method_of_valuation":"C"},{"description":"PURCHASED LOANS","book_value":9903,"method_of_valuation":"C"},{"description":"ACCRUED INTEREST RECEIVABLE","book_value":70602,"method_of_valuation":"C"},{"description":"NCUSIF DEPOSITS","book_value":305550,"method_of_valuation":"C"},{"description":"VISA DEPOSIT","book_value":1539319,"method_of_valuation":"C"},{"description":"US CENTRAL CREDIT UNION SHARES","book_value":74519878,"method_of_valuation":"C"},{"description":"LOANS TO AFFILIATES","book_value":1500000,"method_of_valuation":"C"}],"total_book_value":106504104},"other_liabilities":{"liabilities":[{"description":"MEMBERS' DEPOSITS","amount":146723890},{"description":"MEMBERSHIP CAPITAL","amount":8666159}],"total_liability":155390049},"net_assets_reconciliation":{"total_revenue":2350423,"total_expenses":2401003,"excess_or_deficit_for_year":-50580,"net_unrealized_gains_losses_on_investments":5609,"total_adjustments":5609,"excess_or_deficit_per_financial_statements":-44971},"revenue_reconciliation":{"total_revenue_audited_financial_statements":2350405,"net_unrealized_gains_investments":5609,"revenue_not_reported":5609,"revenue_subtotal":2344796,"other_revenues_not_included":5627,"revenue_not_reported_financial_statement":5627,"total_revenue_per_990":2350423},"expense_reconciliation":{"total_expenses_audited_financial_statements":2400985,"other_expenses_included":-18,"expenses_not_reported":-18,"expenses_subtotal":2401003,"expenses_not_reported_financial_statement":0,"total_expenses_per_990":2401003},"supplemental_information":[{"identifier":"DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48:","explanation":"PART X, LINE 2: FIN 48 FOOTNOTE: IOWA CORPORATE IS EXEMPT FROM INCOME TAXES UNDER INTERNAL REVENUE CODE SECTION 501(C)(14). IOWA CORPORATE FOLLOWS THE ACCOUNTING GUIDANCE FOR UNCERTAINTY IN INCOME TAX. MANAGEMENT HAS EVALUATED THEIR MATERIAL TAX POSITIONS AND DETERMINED NO INCOME TAX EFFECTS WITH RESPECT TO THE FINANCIAL STATEMENTS."},{"identifier":"PART XII, LINE 4B - OTHER ADJUSTMENTS:","explanation":"UNREALIZED GAINS REPORTED IN OTHER COMPREHENSIVE INCOME ON F/S 5,609. GAIN ON SALE OF ASSET REPORTED NET IN F/S 18."},{"identifier":"PART XIII, LINE 2D - OTHER ADJUSTMENTS:","explanation":"GAIN ON SALE OF ASSET REPORTED NET IN F/S -18."}]},"ScheduleJ":{"compensation_arrangements":{"severance_payment":false,"supplemental_nonqualified_retirement_plan":false,"equity_based_compensation_arrangement":false},"compensation":[{"person_name":"MERLE SCHWICKERATH","base_compensation_filing_org":89070,"bonus_filing_org":4100,"bonus_related_orgs":0,"compensation_based_on_related_orgs":0,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":0,"deferred_compensation_filing_org":15340,"deferred_compensation_related_orgs":0,"nontaxable_benefits_filing_org":22904,"nontaxable_benefits_related_orgs":0,"other_compensation_filing_org":0,"other_compensation_related_orgs":0,"total_compensation_filing_org":131414,"total_compensation_related_orgs":0,"name":"MERLE SCHWICKERATH"},{"person_name":"SARA FLYNN","base_compensation_filing_org":112807,"bonus_filing_org":9076,"bonus_related_orgs":0,"compensation_based_on_related_orgs":0,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":0,"deferred_compensation_filing_org":24425,"deferred_compensation_related_orgs":0,"nontaxable_benefits_filing_org":16522,"nontaxable_benefits_related_orgs":0,"other_compensation_filing_org":0,"other_compensation_related_orgs":0,"total_compensation_filing_org":162830,"total_compensation_related_orgs":0,"name":"SARA FLYNN"},{"person_name":"PAULA STEVENS","base_compensation_filing_org":72607,"bonus_filing_org":5100,"bonus_related_orgs":0,"compensation_based_on_related_orgs":0,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":0,"deferred_compensation_filing_org":17891,"deferred_compensation_related_orgs":0,"nontaxable_benefits_filing_org":27278,"nontaxable_benefits_related_orgs":0,"other_compensation_filing_org":0,"other_compensation_related_orgs":0,"total_compensation_filing_org":122876,"total_compensation_related_orgs":0,"name":"PAULA STEVENS"},{"person_name":"CYNDE URNESS","base_compensation_filing_org":133768,"bonus_filing_org":144338,"bonus_related_orgs":0,"compensation_based_on_related_orgs":0,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":0,"deferred_compensation_filing_org":44994,"deferred_compensation_related_orgs":0,"nontaxable_benefits_filing_org":13072,"nontaxable_benefits_related_orgs":0,"other_compensation_filing_org":0,"other_compensation_related_orgs":0,"total_compensation_filing_org":336172,"total_compensation_related_orgs":0,"name":"CYNDE URNESS"}],"supplemental_information":[{"identifier":"SUPPLEMENTAL INFORMATION","form_and_line_reference":"PART III","explanation":"MERLE SCHWICKERATH, SARA FLYNN, CYNDE URNESS, AND PAULA STEVENS RECEIVE COMPENSATION FROM THE MEMBERS GROUP (TMG). TMG PROVIDES ALL COMPENSATION AND HUMAN RESOURCE FUNCTIONS FOR TAXPAYER, INCLUDING EXECUTIVE MANAGEMENT."}]},"ScheduleL":{"business_transactions_involving_interested_persons":[{"person_name":"PAUL LENSMEYER","relationship":"DIRECTOR","description":"SEE ATTACHED","amount":1,"sharing_of_revenues":false,"name":"PAUL LENSMEYER"},{"person_name":"STEVE FLAMM","relationship":"BOARD TREASURER","description":"SEE ATTACHED","amount":1,"sharing_of_revenues":false,"name":"STEVE FLAMM"},{"person_name":"ROGER REISSER","relationship":"BOARD CHAIRMAN","description":"SEE ATTACHED","amount":1,"sharing_of_revenues":false,"name":"ROGER REISSER"},{"person_name":"RACHEL BALLENGER","relationship":"BOARD VICE CHAIRMAN","description":"SEE ATTACHED","amount":1,"sharing_of_revenues":false,"name":"RACHEL BALLENGER"},{"person_name":"MONTE BERG","relationship":"DIRECTOR","description":"SEE ATTACHED","amount":1,"sharing_of_revenues":false,"name":"MONTE BERG"},{"person_name":"WARREN MUELLER","relationship":"DIRECTOR","description":"SEE ATTACHED","amount":1,"sharing_of_revenues":false,"name":"WARREN MUELLER"},{"person_name":"JIM HAGERMAN","relationship":"BOARD SECRETARY","description":"SEE ATTACHED","amount":1,"sharing_of_revenues":false,"name":"JIM HAGERMAN"},{"person_name":"BRENT KOWALSKY","relationship":"DIRECTOR","description":"SEE ATTACHED","amount":1,"sharing_of_revenues":false,"name":"BRENT KOWALSKY"},{"person_name":"PATRICK JURY","relationship":"DIRECTOR","description":"SEE ATTACHED","amount":618608,"sharing_of_revenues":false,"name":"PATRICK JURY"}],"supplemental_information":[{"identifier":"FORM 990, SCHEDULE L, PAGE 1 PART IV: BUSINESS TRANSACTIONS","explanation":"IOWA CORPORATE ACTS AS A CONDUIT FOR ITS MEMBERS FOR THE MOVEMENT OF FINANCIAL ACTIVITY. MEMBER CREDIT UNIONS WILL WIRE FUNDS IN AND OUT OF IOWA CORPORATE TO OTHER FINANCIAL INSTITUTIONS. IOWA CORPORATE DOES NOT RECORD OF ANY OF THESE AMOUNTS ON ITS FINANCIALS AS REVENUE OR EXPENSES. TYPES OF ACTIVITY PERFORMED ON BEHALF OF ITS MEMBERS WOULD INCLUDE WIRES, ACH, AND ACCOUNT BALANCE SWEEPS. ALL BOARD MEMBERS ARE OFFICERS OF MEMBER CREDIT UNIONS. THESE FINANCIAL ACTIVITIES ARE OFFERED TO THE BOARD MEMBERS' CREDIT UNIONS ON THE SAME TERMS AS OTHER MEMBER CREDIT UNIONS.THE MEMBERS GROUP (TMG) AND AFFILIATES MANAGEMENT COMPANY (AMC) PROVIDED MANAGEMENT AND RETAINED SERVICES WITH IOWA CORPORATE OF $618,608. TMG AND AMC ARE WHOLLY OWNED SUBSIDIARIES OF THE IOWA CREDIT UNION LEAGUE (ICUL). THE ORGANIZATION'S BOARD MEMBER, PATRICK JURY, IS CEO OF ICUL."}]},"source_xml":"201132799349300008_public.xml"}],"Latest":{"Organization":{"Hours":[0],"Total Compensation":[0],"Direct compensation":[0],"Other compensation":[0]},"Basic":{"mission":"To provide quality, wholesale financial services for the benefit of iowa credit union members.","primary_activities":"Iowa corporate central credit union (iowa corporate) serves credit unions in the state of iowa. As a correspondent financial institution, iowa corporate provides a wide variety of wholesale financial services to its members. These services include deposit options, lending products, correspondent services, funds transfer services, and settlement services.1) correspondent servicesautomated clearing house (ach)ach allows a credit union to receive electronic payments on behalf of its members. It is a convenient way for the credit union's members to have their government checks or payroll checks directly deposited into their accounts, to have their loan payments automatically made, or various other types of electronic transactions. Iowa corporate receives these items and posts them to their iowa settlement account through automated settlement.automated settlementautomated settlement services provide an electronic method for settling a variety of credit union services. Examples include ach, member share drafts, debit/credit cards, its, american express, cuna supply and a variety of other services. Rather than establishing separate settlement relationships with several vendors, the credit union can consolidate their vendor settlement into their iowa settlement account. All settlement activity is detailed on the credit union's statement, which provides a convenient method of account reconciliation.branch capture iowa corporate offers branch capture which is the process of capturing and truncating check transactions as early in the clearing process as possible. Branch capture enables members to submit checks to iowa corporate electronically for settlement as opposed to transporting items to des moines, saving time and courier costs.corporate share draftsthe iowa corporate share draft program offers a convenient way for credit unions to pay bills, issue member loans, and issue share withdrawals from their members' accounts. The credit union earns interest on the funds in its iowa settlement account until the draft clears. Iowa corporate share drafts are drawn on the credit union's own routing number, which makes the draft an \"on-us\" item instead of a \"payable through.\"international draftsinternational drafts provide another option for credit unions needing to send a foreign currency payment. Sending an international draft is less expensive than sending an international wire. Since the draft is issued in the currency of the country where the payee resides, it also saves time and is less expensive for the payee.coin and currencyiowa corporate offers settlement of coin and currency through its account with the fed. Settlement and billing for the purchase can be made from the credit union's iowa settlement account.2) funds transfer serviceswire transfersa wire transfer is the best method for credit unions to move funds from one financial institution to another on a same-day basis. Iowa corporate offers both domestic and international wire transfer services.member-to-member transfersmember-to-member transfers provide an easy and a more economical way of transferring funds from one credit union's account to another credit union's account as long as they are both members of iowa corporate.cash concentration/automatic debit transfercash concentration (cncc) and automatic debit transfer (adt) are effective, economical ways for credit unions to make repetitive transfers and manage their excess funds. Through cncc, a credit union can move funds from a financial institution to iowa corporate. With adt, a credit union can move funds from iowa corporate back to another financial institution. Both cncc and adt are performed via telephone and are available 24 hours a day, 365 days a year. Through either touch-tone instructions or voice-initiated transactions with a live operator, a credit union initiates these transactions to move funds for next-day availability.3) cd accesscd access is an online certificates of deposit purchasing solution developed by iowa corporate that connects a credit union with a national network of more than 1400 financial institutions who buy and sell cds.4) loans iowa corporate offers an overdraft loan which is a limited line of credit to fund late day member requested wire outs that occur after the normal wire out cutoff time.","year":2010,"name":"IOWA CORPORATE CENTRAL CREDIT UNION","phone":"5154575222","website":"HTTP://WWW.IOWACORPORATE.ORG","type":"990","principal_officer":"SARA FLYNN","year_formation":1975,"state_legal_domicile":"IA","total_volunteers":9,"tax_period_begin":"2010-01-01T00:00:00","tax_period_end":"2010-12-31T00:00:00","address":"1500 NW 118TH ST, DES MOINES, IA, 50325, USA","city":"DES MOINES","state":"IA","country":"USA","zip_code":"50325"},"Governance":{"501c determination":true,"Number of voting members":9,"Number of independent voting members":8,"Number of employees total":0,"Total Gross UBI":0,"Net unrelated business taxable income":0,"Number of employees":0,"Prohibited tax shelter transactions":false,"Taxable party notification":false,"Family or business relationship":true,"Delegation of management duties":true,"Conflict of interest policy":true,"Whistle blower policy":true,"Compensation process for CEO":false,"Compensation process for other employees":false,"Changes to organizing documents":false,"Material diversion or misuse":false,"Members or stockholders":true,"Election of board members":true,"Decisions subject to approval":true,"Minutes of governing body":true,"Local chapters":false,"Form 990 provided to governing body":true,"Document retention policy":true,"Investment in joint venture":false,"Independent audit financial statements":true,"Consolidated audit financial statements":false,"Accountant compile or review":false,"Financial statements audited by independent accountant":true,"Audit committee":true,"Federal grant audit required":false,"Political activities":false,"Donor advised funds":false,"Conservation easements":false,"Collections of art":false,"School":false,"Hospital":false,"Foreign activities":false,"Foreign office":false,"Gaming":false,"Fundraising activities":false,"Professional fundraising":false,"Loan to officer or DQP":false,"Grant to related person":false,"Business relationship through family member":false,"Business relationship with organization":false},"Revenues":{"value":2350423,"Contributions":{"value":0},"Program revenue":{"value":1718521,"Total revenue":{"value":1718521,"VARIOUS":1718521},"Unrelated business revenue":0},"Investment income":{"value":612740,"Investment income total":612722,"Net investment gain":18},"Other revenues":{"value":19162,"Other total":19162}},"Expenses":{"value":2401003,"Grant expense":{"value":0},"Total professional fundraising expense":{"value":0},"Benefits paid to members":{"value":0},"Salaries":{"value":315236,"Current officers":271134,"Other salaries and wages":27376,"Payroll taxes":16726},"Other expenses":{"value":2085767,"Management services":541992,"Legal":9878,"Accounting":50125,"Advertising":2174,"Office expenses":28131,"Information technology":3600,"Occupancy":16380,"Travel":10179,"Conferences and meetings":4632,"Interest":69650,"Depreciation and depletion":2400,"Insurance":36910,"Itemized Expenses":{"value":1309566,"VARIOUS":1309566},"All other expenses":150}},"Assets":{"value":160923217,"Non-interest bearing cash":1409040,"Savings and temp cash investments":52851585,"Investments program related":106504104,"Other assets":158488},"Liabilities":{"value":155547650,"Accounts payable, accrued":157601,"Other liabilities":155390049},"Fund balance":{"value":5375567},"Form990Details":{"program_service_accomplishments":[{"description":"IOWA CORPORATE CENTRAL CREDIT UNION (IOWA CORPORATE) SERVES CREDIT UNIONS IN THE STATE OF IOWA. AS A CORRESPONDENT FINANCIAL INSTITUTION, IOWA CORPORATE PROVIDES A WIDE VARIETY OF WHOLESALE FINANCIAL SERVICES TO ITS MEMBERS. THESE SERVICES INCLUDE DEPOSIT OPTIONS, LENDING PRODUCTS, CORRESPONDENT SERVICES, FUNDS TRANSFER SERVICES, AND SETTLEMENT SERVICES.1) CORRESPONDENT SERVICESAUTOMATED CLEARING HOUSE (ACH)ACH ALLOWS A CREDIT UNION TO RECEIVE ELECTRONIC PAYMENTS ON BEHALF OF ITS MEMBERS. IT IS A CONVENIENT WAY FOR THE CREDIT UNION'S MEMBERS TO HAVE THEIR GOVERNMENT CHECKS OR PAYROLL CHECKS DIRECTLY DEPOSITED INTO THEIR ACCOUNTS, TO HAVE THEIR LOAN PAYMENTS AUTOMATICALLY MADE, OR VARIOUS OTHER TYPES OF ELECTRONIC TRANSACTIONS. IOWA CORPORATE RECEIVES THESE ITEMS AND POSTS THEM TO THEIR IOWA SETTLEMENT ACCOUNT THROUGH AUTOMATED SETTLEMENT.AUTOMATED SETTLEMENTAUTOMATED SETTLEMENT SERVICES PROVIDE AN ELECTRONIC METHOD FOR SETTLING A VARIETY OF CREDIT UNION SERVICES. EXAMPLES INCLUDE ACH, MEMBER SHARE DRAFTS, DEBIT/CREDIT CARDS, ITS, AMERICAN EXPRESS, CUNA SUPPLY AND A VARIETY OF OTHER SERVICES. RATHER THAN ESTABLISHING SEPARATE SETTLEMENT RELATIONSHIPS WITH SEVERAL VENDORS, THE CREDIT UNION CAN CONSOLIDATE THEIR VENDOR SETTLEMENT INTO THEIR IOWA SETTLEMENT ACCOUNT. ALL SETTLEMENT ACTIVITY IS DETAILED ON THE CREDIT UNION'S STATEMENT, WHICH PROVIDES A CONVENIENT METHOD OF ACCOUNT RECONCILIATION.BRANCH CAPTURE IOWA CORPORATE OFFERS BRANCH CAPTURE WHICH IS THE PROCESS OF CAPTURING AND TRUNCATING CHECK TRANSACTIONS AS EARLY IN THE CLEARING PROCESS AS POSSIBLE. BRANCH CAPTURE ENABLES MEMBERS TO SUBMIT CHECKS TO IOWA CORPORATE ELECTRONICALLY FOR SETTLEMENT AS OPPOSED TO TRANSPORTING ITEMS TO DES MOINES, SAVING TIME AND COURIER COSTS.CORPORATE SHARE DRAFTSTHE IOWA CORPORATE SHARE DRAFT PROGRAM OFFERS A CONVENIENT WAY FOR CREDIT UNIONS TO PAY BILLS, ISSUE MEMBER LOANS, AND ISSUE SHARE WITHDRAWALS FROM THEIR MEMBERS' ACCOUNTS. THE CREDIT UNION EARNS INTEREST ON THE FUNDS IN ITS IOWA SETTLEMENT ACCOUNT UNTIL THE DRAFT CLEARS. IOWA CORPORATE SHARE DRAFTS ARE DRAWN ON THE CREDIT UNION'S OWN ROUTING NUMBER, WHICH MAKES THE DRAFT AN \"ON-US\" ITEM INSTEAD OF A \"PAYABLE THROUGH.\"INTERNATIONAL DRAFTSINTERNATIONAL DRAFTS PROVIDE ANOTHER OPTION FOR CREDIT UNIONS NEEDING TO SEND A FOREIGN CURRENCY PAYMENT. SENDING AN INTERNATIONAL DRAFT IS LESS EXPENSIVE THAN SENDING AN INTERNATIONAL WIRE. SINCE THE DRAFT IS ISSUED IN THE CURRENCY OF THE COUNTRY WHERE THE PAYEE RESIDES, IT ALSO SAVES TIME AND IS LESS EXPENSIVE FOR THE PAYEE.COIN AND CURRENCYIOWA CORPORATE OFFERS SETTLEMENT OF COIN AND CURRENCY THROUGH ITS ACCOUNT WITH THE FED. SETTLEMENT AND BILLING FOR THE PURCHASE CAN BE MADE FROM THE CREDIT UNION'S IOWA SETTLEMENT ACCOUNT.2) FUNDS TRANSFER SERVICESWIRE TRANSFERSA WIRE TRANSFER IS THE BEST METHOD FOR CREDIT UNIONS TO MOVE FUNDS FROM ONE FINANCIAL INSTITUTION TO ANOTHER ON A SAME-DAY BASIS. IOWA CORPORATE OFFERS BOTH DOMESTIC AND INTERNATIONAL WIRE TRANSFER SERVICES.MEMBER-TO-MEMBER TRANSFERSMEMBER-TO-MEMBER TRANSFERS PROVIDE AN EASY AND A MORE ECONOMICAL WAY OF TRANSFERRING FUNDS FROM ONE CREDIT UNION'S ACCOUNT TO ANOTHER CREDIT UNION'S ACCOUNT AS LONG AS THEY ARE BOTH MEMBERS OF IOWA CORPORATE.CASH CONCENTRATION/AUTOMATIC DEBIT TRANSFERCASH CONCENTRATION (CNCC) AND AUTOMATIC DEBIT TRANSFER (ADT) ARE EFFECTIVE, ECONOMICAL WAYS FOR CREDIT UNIONS TO MAKE REPETITIVE TRANSFERS AND MANAGE THEIR EXCESS FUNDS. THROUGH CNCC, A CREDIT UNION CAN MOVE FUNDS FROM A FINANCIAL INSTITUTION TO IOWA CORPORATE. WITH ADT, A CREDIT UNION CAN MOVE FUNDS FROM IOWA CORPORATE BACK TO ANOTHER FINANCIAL INSTITUTION. BOTH CNCC AND ADT ARE PERFORMED VIA TELEPHONE AND ARE AVAILABLE 24 HOURS A DAY, 365 DAYS A YEAR. THROUGH EITHER TOUCH-TONE INSTRUCTIONS OR VOICE-INITIATED TRANSACTIONS WITH A LIVE OPERATOR, A CREDIT UNION INITIATES THESE TRANSACTIONS TO MOVE FUNDS FOR NEXT-DAY AVAILABILITY.3) CD ACCESSCD ACCESS IS AN ONLINE CERTIFICATES OF DEPOSIT PURCHASING SOLUTION DEVELOPED BY IOWA CORPORATE THAT CONNECTS A CREDIT UNION WITH A NATIONAL NETWORK OF MORE THAN 1400 FINANCIAL INSTITUTIONS WHO BUY AND SELL CDS.4) LOANS IOWA CORPORATE OFFERS AN OVERDRAFT LOAN WHICH IS A LIMITED LINE OF CREDIT TO FUND LATE DAY MEMBER REQUESTED WIRE OUTS THAT OCCUR AFTER THE NORMAL WIRE OUT CUTOFF TIME."}],"program_service_revenue_detail":[{"business_code":"522100","description":"BANKING SERVICE FEES","total_revenue":1594598,"related_or_exempt_function_income":1594598},{"business_code":"522100","description":"MEMBERS UNITED SERVICE","total_revenue":80000,"related_or_exempt_function_income":80000},{"business_code":"522100","description":"INTEREST FROM LOANS","total_revenue":43923,"related_or_exempt_function_income":43923}],"functional_expense_allocations":{"current_officers_directors":{"total":271134},"other_salaries_and_wages":{"total":27376},"payroll_taxes":{"total":16726},"management_fees":{"total":541992},"legal_fees":{"total":9878},"accounting_fees":{"total":50125},"advertising":{"total":2174},"office_expenses":{"total":28131},"information_technology":{"total":3600},"occupancy":{"total":16380},"travel":{"total":10179},"conferences_meetings":{"total":4632},"interest":{"total":69650},"depreciation_depletion":{"total":2400},"insurance":{"total":36910},"all_other_expenses":{"total":150}},"tax_and_disclosure_flags":{"activities_conducted_through_partnership":false,"foreign_financial_account":false,"deductible_non_cash_contributions":false,"deductible_contributions_of_art":false,"method_of_accounting_accrual":true,"schedule_o_part_iii":true,"schedule_o_part_vi":true,"schedule_o_part_vii":true,"schedule_o_part_xi":true,"schedule_o_part_xii":true},"principal_officer_detail":{"person_name":"SARA FLYNN","address_line1":"1500 NW 118TH ST","city":"DES MOINES","state":"IA","zip":"50325"},"audit_financial_statement_detail":{"accountant_compile_or_review":false,"audited_financial_statement_separate":true,"federal_grant_audit_required":false},"related_party_due_diligence":{"officer_entity_with_business_relationship":true,"officer_mailing_address":false,"related_entity":false,"related_org_controlled_entity":false,"compensation_from_other_sources":true,"annual_disclosure_covered_persons":true},"grant_due_diligence":{"grants_to_organizations":false,"grants_to_individuals":false,"more_than_5000_to_organizations":false,"more_than_5000_to_individuals":false},"books_are_in_care_of":{"phone":"8002681884","business_name_line1":"SARA FLYNN","address_line1":"1500 NW 118TH ST","city":"DES MOINES","state":"IA","zip":"50325"},"contractor_compensation":[{"business_name_line1":"FEDERAL RESERVE BANK","compensation":694580,"services_description":"RESERVE EXPENSE & CHECK COLLECTIONS","address_line1":"230 SOUTH LASALLE STREET","city":"CHICAGO","state":"IL","zip":"60604","name":"FEDERAL RESERVE BANK","address":"230 SOUTH LASALLE STREET, CHICAGO, IL, 60604"},{"business_name_line1":"AFFILIATES MANAGEMENT COMPANY","compensation":370766,"services_description":"RETAINED SERVICES","address_line1":"1500 NW 118TH STREET","city":"DES MOINES","state":"IA","zip":"50325","name":"AFFILIATES MANAGEMENT COMPANY","address":"1500 NW 118TH STREET, DES MOINES, IA, 50325"},{"business_name_line1":"THE MEMBERS GROUP","compensation":247842,"services_description":"RETAINED SERVICES","address_line1":"1500 NW 118TH STREET","city":"DES MOINES","state":"IA","zip":"50325","name":"THE MEMBERS GROUP","address":"1500 NW 118TH STREET, DES MOINES, IA, 50325"},{"business_name_line1":"CORE NETWORK PROCESSING","compensation":161335,"services_description":"CUSTOM WEB & SOFTWARE DEVELOPMENT SERVIC","address_line1":"9701 RENNER BLVD SUITE 100","city":"LENEXA","state":"KS","zip":"66219","name":"CORE NETWORK PROCESSING","address":"9701 RENNER BLVD SUITE 100, LENEXA, KS, 66219"}],"officers_directors_key_employees":[{"title":"DIRECTOR","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true},{"title":"DIRECTOR","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true},{"title":"BOARD TREASURER","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"officer":true},{"title":"BOARD CHAIRMAN","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"officer":true},{"title":"BOARD VICE CHAIRMAN","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"officer":true},{"title":"DIRECTOR","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true},{"title":"DIRECTOR","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true},{"title":"BOARD SECRETARY","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"officer":true},{"title":"DIRECTOR","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true},{"title":"CFO","average_hours_per_week":2.0,"reportable_comp_from_org":93170,"reportable_comp_from_related_orgs":0,"other_compensation":38244,"officer":true},{"title":"CEO","average_hours_per_week":40.0,"reportable_comp_from_org":121883,"reportable_comp_from_related_orgs":0,"other_compensation":40947,"officer":true},{"title":"VICE PRESIDENT OF OPERATIONS","average_hours_per_week":40.0,"reportable_comp_from_org":77707,"reportable_comp_from_related_orgs":0,"other_compensation":45169,"officer":true},{"title":"VICE PRESIDENT","average_hours_per_week":1.0,"reportable_comp_from_org":278106,"reportable_comp_from_related_orgs":0,"other_compensation":58066,"officer":true},{"title":"CEO","average_hours_per_week":10.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"former":true}]},"ScheduleB":{"attached":false,"required":false},"ScheduleD":{"land_buildings_equipment":{"total_book_value":0},"program_related_investments":{"investments":[{"description":"SECURITIES AVAILABLE FOR SALE","book_value":167504,"method_of_valuation":"F"},{"description":"INVESTMENT IN CORPORATE NETWORK BROKERAGE SERVICES","book_value":83900,"method_of_valuation":"C"},{"description":"INVESTMENT IN PRIMARY FINANCIAL COMPANY","book_value":46329,"method_of_valuation":"C"},{"description":"BANK CERTIFICATES","book_value":28235067,"method_of_valuation":"C"},{"description":"MASTERCARD LOANS","book_value":26052,"method_of_valuation":"C"},{"description":"PURCHASED LOANS","book_value":9903,"method_of_valuation":"C"},{"description":"ACCRUED INTEREST RECEIVABLE","book_value":70602,"method_of_valuation":"C"},{"description":"NCUSIF DEPOSITS","book_value":305550,"method_of_valuation":"C"},{"description":"VISA DEPOSIT","book_value":1539319,"method_of_valuation":"C"},{"description":"US CENTRAL CREDIT UNION SHARES","book_value":74519878,"method_of_valuation":"C"},{"description":"LOANS TO AFFILIATES","book_value":1500000,"method_of_valuation":"C"}],"total_book_value":106504104},"other_liabilities":{"liabilities":[{"description":"MEMBERS' DEPOSITS","amount":146723890},{"description":"MEMBERSHIP CAPITAL","amount":8666159}],"total_liability":155390049},"net_assets_reconciliation":{"total_revenue":2350423,"total_expenses":2401003,"excess_or_deficit_for_year":-50580,"net_unrealized_gains_losses_on_investments":5609,"total_adjustments":5609,"excess_or_deficit_per_financial_statements":-44971},"revenue_reconciliation":{"total_revenue_audited_financial_statements":2350405,"net_unrealized_gains_investments":5609,"revenue_not_reported":5609,"revenue_subtotal":2344796,"other_revenues_not_included":5627,"revenue_not_reported_financial_statement":5627,"total_revenue_per_990":2350423},"expense_reconciliation":{"total_expenses_audited_financial_statements":2400985,"other_expenses_included":-18,"expenses_not_reported":-18,"expenses_subtotal":2401003,"expenses_not_reported_financial_statement":0,"total_expenses_per_990":2401003},"supplemental_information":[{"identifier":"DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48:","explanation":"PART X, LINE 2: FIN 48 FOOTNOTE: IOWA CORPORATE IS EXEMPT FROM INCOME TAXES UNDER INTERNAL REVENUE CODE SECTION 501(C)(14). IOWA CORPORATE FOLLOWS THE ACCOUNTING GUIDANCE FOR UNCERTAINTY IN INCOME TAX. MANAGEMENT HAS EVALUATED THEIR MATERIAL TAX POSITIONS AND DETERMINED NO INCOME TAX EFFECTS WITH RESPECT TO THE FINANCIAL STATEMENTS."},{"identifier":"PART XII, LINE 4B - OTHER ADJUSTMENTS:","explanation":"UNREALIZED GAINS REPORTED IN OTHER COMPREHENSIVE INCOME ON F/S 5,609. GAIN ON SALE OF ASSET REPORTED NET IN F/S 18."},{"identifier":"PART XIII, LINE 2D - OTHER ADJUSTMENTS:","explanation":"GAIN ON SALE OF ASSET REPORTED NET IN F/S -18."}]},"ScheduleJ":{"compensation_arrangements":{"severance_payment":false,"supplemental_nonqualified_retirement_plan":false,"equity_based_compensation_arrangement":false},"compensation":[{"person_name":"MERLE SCHWICKERATH","base_compensation_filing_org":89070,"bonus_filing_org":4100,"bonus_related_orgs":0,"compensation_based_on_related_orgs":0,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":0,"deferred_compensation_filing_org":15340,"deferred_compensation_related_orgs":0,"nontaxable_benefits_filing_org":22904,"nontaxable_benefits_related_orgs":0,"other_compensation_filing_org":0,"other_compensation_related_orgs":0,"total_compensation_filing_org":131414,"total_compensation_related_orgs":0,"name":"MERLE SCHWICKERATH"},{"person_name":"SARA FLYNN","base_compensation_filing_org":112807,"bonus_filing_org":9076,"bonus_related_orgs":0,"compensation_based_on_related_orgs":0,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":0,"deferred_compensation_filing_org":24425,"deferred_compensation_related_orgs":0,"nontaxable_benefits_filing_org":16522,"nontaxable_benefits_related_orgs":0,"other_compensation_filing_org":0,"other_compensation_related_orgs":0,"total_compensation_filing_org":162830,"total_compensation_related_orgs":0,"name":"SARA FLYNN"},{"person_name":"PAULA STEVENS","base_compensation_filing_org":72607,"bonus_filing_org":5100,"bonus_related_orgs":0,"compensation_based_on_related_orgs":0,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":0,"deferred_compensation_filing_org":17891,"deferred_compensation_related_orgs":0,"nontaxable_benefits_filing_org":27278,"nontaxable_benefits_related_orgs":0,"other_compensation_filing_org":0,"other_compensation_related_orgs":0,"total_compensation_filing_org":122876,"total_compensation_related_orgs":0,"name":"PAULA STEVENS"},{"person_name":"CYNDE URNESS","base_compensation_filing_org":133768,"bonus_filing_org":144338,"bonus_related_orgs":0,"compensation_based_on_related_orgs":0,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":0,"deferred_compensation_filing_org":44994,"deferred_compensation_related_orgs":0,"nontaxable_benefits_filing_org":13072,"nontaxable_benefits_related_orgs":0,"other_compensation_filing_org":0,"other_compensation_related_orgs":0,"total_compensation_filing_org":336172,"total_compensation_related_orgs":0,"name":"CYNDE URNESS"}],"supplemental_information":[{"identifier":"SUPPLEMENTAL INFORMATION","form_and_line_reference":"PART III","explanation":"MERLE SCHWICKERATH, SARA FLYNN, CYNDE URNESS, AND PAULA STEVENS RECEIVE COMPENSATION FROM THE MEMBERS GROUP (TMG). 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MEMBER CREDIT UNIONS WILL WIRE FUNDS IN AND OUT OF IOWA CORPORATE TO OTHER FINANCIAL INSTITUTIONS. IOWA CORPORATE DOES NOT RECORD OF ANY OF THESE AMOUNTS ON ITS FINANCIALS AS REVENUE OR EXPENSES. TYPES OF ACTIVITY PERFORMED ON BEHALF OF ITS MEMBERS WOULD INCLUDE WIRES, ACH, AND ACCOUNT BALANCE SWEEPS. ALL BOARD MEMBERS ARE OFFICERS OF MEMBER CREDIT UNIONS. THESE FINANCIAL ACTIVITIES ARE OFFERED TO THE BOARD MEMBERS' CREDIT UNIONS ON THE SAME TERMS AS OTHER MEMBER CREDIT UNIONS.THE MEMBERS GROUP (TMG) AND AFFILIATES MANAGEMENT COMPANY (AMC) PROVIDED MANAGEMENT AND RETAINED SERVICES WITH IOWA CORPORATE OF $618,608. TMG AND AMC ARE WHOLLY OWNED SUBSIDIARIES OF THE IOWA CREDIT UNION LEAGUE (ICUL). 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