Illinois Community Credit Union

Nonprofit profile at a glance

EIN
361848945
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-N 2010
Location
Sycamore, IL, USA
Phone
8158954541
Rating confidence
Limited

Official website

Reported finances

Revenue
$7,828,538
Expenses
$9,697,915
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • THOR DOLAN (CEO)

Highest reported compensation

  • THOR DOLAN (CEO): $268,664 total reported compensation
  • BRIAN MANN (CFO): $179,705 total reported compensation
  • ADAM FERGUSON (VP OF IT, MARKETING AND OPERATIONS): $146,006 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Illinois community credit union is a member owned financial institution, dedicated to providing quality products and services that meet the needs of our members and the communities we serve.

What it reported doing in 2024

Provided savings and checking account services for 10,403 members. These accounts include christmas club accounts for members to automatically set aside a fixed amount each month, to be transferred into their regular savings accounts in november of each year. We also provide checking accounts for people that normally wouldn't qualify for checking accounts due to negative events in their past banking history, along with other checking accounts based on where a member may be in their financial life.

Operating model

Revenue model
Other-operating. 90% of the money available for current operations came from other operating revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 66
  • Accountability: 86
  • Sustainability: 8
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -23.9%; rating input score 6; 6th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 6.1%; rating input score 46; 46th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -0.3% per year; rating input score 0; 11th percentile among comparable filings
  • Asset growth: -0.1% per year; rating input score 0; 12th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 7 of 7 board members independent · 6 of 9 filing controls reported
  • Programs: 2 filed program accomplishments
  • Leadership: top reported pay $269K · 10 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed · $770K reported
  • Consistency: 8 of 8 current checks pass
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 6/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • Moderate — Sustainability: Officer compensation ratio scored 46/100.