Linxus Credit Union FY2020 filing

Not tax-deductible

Machesney Pk, ILMutual-benefit / member-servingSince 1927Mutual / membership EIN 36-1695980Revenue $616K in FY2020

On file with the IRSlinxuscu.org1405 W Lane Rd Ste A, 61115-1660 · Machesney Pk, ILTax-exempt since Sep 1941

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Our purpose is to provide financial services to our members with competitive rates, while maintaining our financial stability.

$83K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

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FY2020 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $32K a year · 4% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$83K
to officers and key staff · 14% of spending
Looks good: pay to officers and key staff is 14% of spending; 15% or less.
Pt VII · Sec A
158 mo
of spending, in cash
Looks good: 158.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $5K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$16.0M
86% of total assets
Concern: liabilities are 86% of assets; over 80%.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$616K
Spent
$605K
To programs
0%
Net assets
$2.6M
By yearFY2020–FY2025
Revenue
$616K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$616K
FY2021$540K
FY2022$655K
FY2023$755K
FY2024$869K
FY2025$883K
Expenses
$605K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$605K
FY2021$537K
FY2022$580K
FY2023$733K
FY2024$836K
FY2025$839K
Net assets
$2.6M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$2.6M
FY2021$2.6M
FY2022$2.6M
FY2023$2.7M
FY2024$2.7M
FY2025$2.7M

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Sep 1941.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

9 people listed on the 990; $83K paid to officers and key staff.

Part VII, Section A · reportable compensation
President
$83,428Pt VII · Sec A
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Chairman
$0Pt VII · Sec A
Vice Chairman
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Tracy Beyer$106,634$107,823$98,912$89,312$83,940$83,428

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Offers loans, savings, and checking accounts to help members manage their finances.

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Provided by the organization

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3 programs · in their own filed words · FY2020
01

Provided new consumer and home equity loans in addition to servicing over 700 loan accounts

Pt IX · col B
02

Processed deposits, withdrawals, and payments for over 3000 accounts

Pt IX · col B
03

Provided servicing of over 650 Visa/Debit/ATM card accounts

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 1 funder$5K

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$616K
Ln 12
Fees for servicesLn 2g$484K
Investment incomeLn 3$132K
Money outPt IX
$605K
Ln 25
Owns and owesPt X
$2.6M
net assets · Ln 32
Cash and savingsLn 1–2$8.0M
Total assetsLn 16$18.6M
LiabilitiesLn 26$16.0M
PeoplePt VI, VII
9
listed · VII A
PaidVII A1
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$484K
Investment incomeLn 3$132K
Total revenueLn 12$616K
Assets in detailPt X, end of year
CashLn 1$453K
SavingsLn 2$7.5M
Cash and savings togetherLn 1–2$8.0M
Land, buildings, equipmentLn 10c$9K
Other assetsLn 15$2.6M
Total assetsLn 16$18.6M
LiabilitiesLn 26$16.0M
Net assetsLn 32$2.6M
OperationsPt I, VI
EmployeesI 54
VolunteersI 69
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$6.5M$8.0M
Land, buildings, equipmentLn 10c$7K$9K
Total assetsLn 16$17.2M$18.6M
LiabilitiesLn 26$14.7M$16.0M
Net assetsLn 32$2.6M$2.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$85K
Other salaries and wagesLn 7$88K
Pension plan contributionsLn 8$5K
Other employee benefitsLn 9$46K
Payroll taxesLn 10$13K
Legal feesLn 11b$1K
Accounting feesLn 11c$8K
Other fees for servicesLn 11g$62K
Advertising and promotionLn 12$5K
Office expensesLn 13$45K
Information technologyLn 14$34K
OccupancyLn 16$60K
TravelLn 17$266
Conferences, conventions and meetingsLn 19$4K
Payments to affiliatesLn 21$9K
Depreciation, depletion and amortizationLn 22$8K
InsuranceLn 23$12K
Other expenses (24a–d)Ln 24$117K
All other expensesLn 24e$2K
Total functional expensesLn 25$605K$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $883K$839K$45K$2.7M 990 PDF
FY2024 $869K$836K$33K$2.7M 990 PDF
FY2023 $755K$733K$22K$2.7M 990 PDF
FY2022 $655K$580K$75K$2.6M 990 PDF
FY2021 $540K$537K$3K$2.6M 990 PDF
FY2020 Viewing $616K$605K$12K$2.6M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $616,360 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $468,999$484,207
I-10 Investment incomePrior year $203,929$132,153
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $672,928$616,360
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $247,486$237,650
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $406,461$366,872
I-18 Total expensesPrior year $653,947$604,522
I-19 Revenue less expensesPrior year $18,981$11,838
Part VI · Governance 9 of 9 board members independent, 4 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $616,360 across 5 lines filed
VIII-1h Total contributions, gifts and grants$0
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $484,207 · Unrelated business $0 · Excluded from tax $0$484,207
VIII-3 Investment incomeRelated to mission $132,153 · Unrelated business $0 · Excluded from tax $0$132,153
VIII-5 RoyaltiesRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-12 Total revenueRelated to mission $616,360 · Unrelated business $0 · Excluded from tax $0$616,360
Part IX · Statement of functional expenses $604,522 across 19 lines filed
IX-5 Pay of current officers, directors and key staff$85,019
IX-7 Other salaries and wages$87,903
IX-8 Pension plan contributions$5,467
IX-9 Other employee benefits$45,961
IX-10 Payroll taxes$13,300
IX-11b Legal fees$1,305
IX-11c Accounting fees$7,583
IX-11g Other fees for services$61,733
IX-12 Advertising and promotion$5,267
IX-13 Office expenses$44,930
IX-14 Information technology$33,882
IX-16 Occupancy$60,260
IX-17 Travel$266
IX-19 Conferences, conventions and meetings$4,039
IX-21 Payments to affiliates$9,457
IX-22 Depreciation, depletion and amortization$8,092
IX-23 Insurance$11,582
IX-24 Other expenses (24a–d)$116,830
IX-24e All other expenses$1,646
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$604,522
Part X · Balance sheet $18,580,742 assets, 11 lines filed
Asset lines not itemized here account for $7,892,100; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $389,898$452,841
X-2 Savings and temporary cash investmentsStart of year $6,072,223$7,523,511
X-9 Prepaid expenses and deferred chargesStart of year $59,073$62,842
X-10c Land, buildings and equipment, netStart of year $6,505$9,461
X-15 Other assetsStart of year $1,804,557$2,639,987
X-16 Total assetsStart of year $17,224,326$18,580,742
X-17 Accounts payable and accrued expensesStart of year $23,310$23,930
X-25 Other liabilitiesStart of year $14,646,703$15,990,661
X-26 Total liabilitiesStart of year $14,670,013$16,014,591
X-32 Total net assets or fund balancesStart of year $2,554,313$2,566,151
X-33 Total liabilities and net assetsStart of year $17,224,326$18,580,742
Part XI · Reconciliation of net assets $2,566,151 net assets at year end
XI-1 Total revenue$616,360
XI-2 Total expenses$604,522
XI-3 Revenue less expenses$11,838
XI-4 Net assets at start of year$2,554,313
XI-5 Net unrealized gains (losses) on investments$0
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,566,151

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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