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Alliant Credit Union

Not tax-deductible

Chicago, ILMutual-benefit / member-servingSince 1935Public & Societal Benefit EIN 36-6066772Revenue $1.3B in FY2024

On file with the IRSalliantcreditunion.org11545 W Touhy Ave, 60666-5000 · Chicago, ILTax-exempt since Oct 1964

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We operate to benefit members. We operate without profit for mutual purpose. We strive to benefit our members through higher dividends on savings and lower loan rates.

$13.0M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

Before you give

FY2024 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $131.5M a year · 16% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 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
$13.0M
to officers and key staff · 1% of spending
Looks good: pay to officers and key staff is 1% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Plus $3.12B in investments, Pt X · Ln 11–13
Fine: 1.9 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$18.1B
93% of total assets
Concern: liabilities are 93% of assets; over 80%.
Pt X · Ln 26
Independent board members
0
of 10 voting members
Concern: none of 10 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.3B
+10% vs prior year
Spent
$1.2B
To programs
0%
Net assets
$1.4B
By yearFY2020–FY2024
Revenue
$1.3B
FY2024▲ +10%
Tap a bar for its year
Revenue by fiscal year
FY2020$498.3M
FY2021$528.3M
FY2022$734.2M
FY2023$1.2B
FY2024$1.3B
Expenses
$1.2B
FY2024▲ +11%
Tap a bar for its year
Expenses by fiscal year
FY2020$435.1M
FY2021$266.5M
FY2022$567.0M
FY2023$1.1B
FY2024$1.2B
Net assets
$1.4B
FY2024▲ +10%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.3B
FY2021$1.5B
FY2022$1.4B
FY2023$1.3B
FY2024$1.4B

From the FY2024 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: FY2024. IRS ruling in Oct 1964.

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

Who runs it and what they're paid

20 people listed on the 990; $13.0M paid to officers and key staff.

Part VII, Section A · reportable compensation
$6,305,376Pt VII · Sec A
Kenneth Crowder
Retail Mortgage Loan Officer
$1,012,707Pt VII · Sec A
$987,328Pt VII · Sec A
$927,943Pt VII · Sec A
Mark Lau
EVP, CFO
$852,653Pt VII · Sec A
Kenneth Schaafsma
EVP/Interim CEO
$822,641Pt VII · Sec A
Meredith Ritchie
EVP, Counsel
$786,547Pt VII · Sec A
$698,060Pt VII · Sec A

Dennis Devine End 102024’s $6.3M as CEO is at the 100th percentile of top reported officer pay among 59 $100M+ public & societal benefit nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Dennis Devine End 102024$6,305,376————
Dennis Devine—$3,117,129$3,016,512$1,887,544—
David Mooney————$2,107,672
David Mooney End 12021———$1,227,170—
Timothy Wartman End 112020————$1,161,524
Lee Schafer End 112020————$1,139,929
Philip Salis End 112020————$1,125,021
Kenneth Crowder$1,012,707————

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 15aYes

Programs and updates

Helps members save more and borrow less through mutual financial benefits.

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Provided by the organization

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3 programs · in their own filed words · FY2024
01

Lending Services

We offer various credit solutions at reasonable rates of interest including 1ST and 2ND mortgage, consumer loans, credit cards, personal loans and business loans.

Pt IX · col B
02

Deposit Products

We offer numerous deposit products at a higher than average interest rate including checking, savings, certificate of deposits, and custodial accounts.

Pt IX · col B
03

Investment Services

Full service financial advisory program offering members retirement, insurance, and investment services.

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 · this organization's grantmaking
Grants paid · 5 grants · $79K · 2020–2024
Unitemized GrantFY2024$16,000
Unitemized GrantFY2023$16,000
Unitemized GrantFY2022$16,000
Unitemized GrantFY2021$16,000
Unitemized GrantFY2020$15,000

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.3B
Ln 12
Fees for servicesLn 2g$1.1B
Investment incomeLn 3$126.6M
Money outPt IX
$1.2B
Ln 25
Owns and owesPt X
$1.4B
net assets · Ln 32
Cash and savingsLn 1–2$189.1M
Total assetsLn 16$19.5B
LiabilitiesLn 26$18.1B
PeoplePt VI, VII
20
listed · VII A
PaidVII A20
Voting boardVI 1a10
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$1.1B
Investment incomeLn 3$126.6M
Gains on assetsLn 7$8.8M
Total revenueLn 12$1.3B
Assets in detailPt X, end of year
SavingsLn 2$189.1M
Cash and savings togetherLn 1–2$189.1M
InvestmentsLn 11–13$3.12B
Land, buildings, equipmentLn 10c$20.4M
Other assetsLn 15$946.8M
Total assetsLn 16$19.5B
LiabilitiesLn 26$18.1B
Net assetsLn 32$1.4B
OperationsPt I, VI
EmployeesI 5818
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$219.9M$189.1M
InvestmentsLn 11–13$2.51B$3.12B
Land, buildings, equipmentLn 10c$24.3M$20.4M
Total assetsLn 16$18.47B$19.54B
LiabilitiesLn 26$17.18B$18.12B
Net assetsLn 32$1.29B$1.42B
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$16K
Pay of current officers, directors and key staffLn 5$8.9M
Other salaries and wagesLn 7$109.2M
Pension plan contributionsLn 8$13.9M
Payroll taxesLn 10$21.9M
Legal feesLn 11b$970K
Accounting feesLn 11c$525K
Other fees for servicesLn 11g$8.0M
Advertising and promotionLn 12$16.7M
Office expensesLn 13$5.5M
Information technologyLn 14$21.8M
OccupancyLn 16$2.1M
TravelLn 17$1.0M
Conferences, conventions and meetingsLn 19$232K
InterestLn 20$830.5M
Depreciation, depletion and amortizationLn 22$10.2M
InsuranceLn 23$484K
Other expenses (24a–d)Ln 24$125.0M
All other expensesLn 24e$8.4M
Total functional expensesLn 25$1.19B

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $1.3B$1.2B$81.7M$1.4B 990 PDF
FY2023 $1.2B$1.1B$83.7M$1.3B 990 PDF
FY2022 $734.2M$567.0M$167.2M$1.4B 990 PDF
FY2021 $528.3M$266.5M$261.8M$1.5B 990 PDF
FY2020 $498.3M$435.1M$63.2M$1.3B 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 J · Pay O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $1,266,937,770 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $1,066,632,888$1,140,326,541
I-10 Investment incomePrior year $81,650,769$126,611,229
I-11 Other revenuePrior year $1,766,585$0
I-12 Total revenuePrior year $1,150,050,242$1,266,937,770
I-13 Grants and similar amounts paidPrior year $16,000$16,000
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $134,382,341$153,887,151
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $931,914,163$1,031,367,017
I-18 Total expensesPrior year $1,066,312,504$1,185,270,168
I-19 Revenue less expensesPrior year $83,737,738$81,667,602
Part VI · Governance 0 of 10 board members independent, no flags
VI-1a Voting members of the governing body10
VI-1b Independent voting members0
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $1,266,937,770 across 5 lines filed
Lines not itemized here account for −$16,027,989 of total revenue; see the IRS return.
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 $1,155,651,386 · Unrelated business $703,144$1,156,354,530
VIII-3 Investment incomeRelated to mission $117,818,104 · Unrelated business −$1,425$117,816,679
VIII-7 Net gain or loss on sales of assetsRelated to mission $8,794,550$8,794,550
VIII-12 Total revenueRelated to mission $1,266,236,051 · Unrelated business $701,719 · Excluded from tax $0$1,266,937,770
Part IX · Statement of functional expenses $1,185,270,168 across 19 lines filed
IX-2 Grants to domestic individuals$16,000
IX-5 Pay of current officers, directors and key staff$8,854,767
IX-7 Other salaries and wages$109,226,442
IX-8 Pension plan contributions$13,861,538
IX-10 Payroll taxes$21,944,404
IX-11b Legal fees$969,640
IX-11c Accounting fees$525,300
IX-11g Other fees for services$7,995,215
IX-12 Advertising and promotion$16,728,483
IX-13 Office expenses$5,471,257
IX-14 Information technology$21,790,301
IX-16 Occupancy$2,066,855
IX-17 Travel$1,036,521
IX-19 Conferences, conventions and meetings$232,237
IX-20 Interest$830,508,066
IX-22 Depreciation, depletion and amortization$10,203,766
IX-23 Insurance$483,868
IX-24 Other expenses (24a–d)$124,970,170
IX-24e All other expenses$8,385,338
IX-25 Total functional expenses$1,185,270,168
Part X · Balance sheet $19,539,151,845 assets, 14 lines filed
Asset lines not itemized here account for $15,150,569,812; see the IRS return.
X-2 Savings and temporary cash investmentsStart of year $219,935,517$189,141,440
X-4 Accounts receivableStart of year $96,705,439$102,525,401
X-9 Prepaid expenses and deferred chargesStart of year $12,519,526$9,789,925
X-10c Land, buildings and equipment, netStart of year $24,284,589$20,420,127
X-11 Publicly traded securitiesStart of year $2,507,573,072$3,119,446,906
X-12 Other securitiesStart of year $502,500$502,500
X-15 Other assetsStart of year $771,428,040$946,755,734
X-16 Total assetsStart of year $18,473,232,789$19,539,151,845
X-17 Accounts payable and accrued expensesStart of year $143,086,470$133,706,861
X-19 Deferred revenueStart of year $1,932,498$1,512,998
X-25 Other liabilitiesStart of year $17,034,356,039$17,982,081,075
X-26 Total liabilitiesStart of year $17,179,375,007$18,117,300,934
X-32 Total net assets or fund balancesStart of year $1,293,857,782$1,421,850,911
X-33 Total liabilities and net assetsStart of year $18,473,232,789$19,539,151,845
Part XI · Reconciliation of net assets $1,421,850,911 net assets at year end
XI-1 Total revenue$1,266,937,770
XI-2 Total expenses$1,185,270,168
XI-3 Revenue less expenses$81,667,602
XI-4 Net assets at start of year$1,293,857,782
XI-5 Net unrealized gains (losses) on investments$46,325,527
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,421,850,911

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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