Blackhawk Area Cu

Not tax-deductible

Savanna, ILMutual-benefit / member-servingSince 1935EIN 36-6091357

The mission of the credit union is to provide low-cost financial services to its members, to encourage savings, to provide education in fiancial matters, and to prosper in order to continue to be a viable financial institution in the future.

Run by 9 volunteers and 21 employees.
Mission: Form 990 Part I, line 1 · People: Part I, lines 5–6

Before you give

FY2025 · 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 $344K a year · 18% 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
$161K
to officers and key staff · 10% of spending
Looks good: pay to officers and key staff is 10% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
36 mo
of spending, in cash
Looks good: 36.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$34.5M
88% of total assets
Concern: liabilities are 88% of assets; over 80%.
Pt X · Ln 26
Independent board members
0
of 9 voting members
Concern: none of 9 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.1M
-4% vs prior year
Spent
$1.7M
To programs
0%
Net assets
$4.8M
By yearFY2020–FY2025
Revenue
$2.1M
FY2025▼ -4%
Revenue by fiscal year
FY2020$1.5M
FY2021$1.7M
FY2022$1.9M
FY2023$2.2M
FY2024$2.2M
FY2025$2.1M
Expenses
$1.7M
FY2025▼ -4%
Expenses by fiscal year
FY2020$1.4M
FY2021$1.5M
FY2022$1.6M
FY2023$1.6M
FY2024$1.7M
FY2025$1.7M
Net assets
$4.8M
FY2025▲ +13%
Net assets by fiscal year
FY2020$2.7M
FY2021$2.9M
FY2022$3.4M
FY2023$3.9M
FY2024$4.3M
FY2025$4.8M

From the FY2025 Form 990 · figures checked against the IRS filing · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Aug 1960.

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

Who runs it and what they're paid

11 people listed on the 990; $161K paid to officers and key staff.

Part VII, Section A · reportable compensation
$108,140Pt VII · Sec A
Credit Manager
$52,490Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Rhonda Schroeder$108,140$106,260$104,340$99,850$99,700$94,000
Melanie Macy—$54,810$52,890$50,538$48,513$44,750
Donna Deets$52,490—————

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

Provides financial services to members for their shared benefit.

Provided by the organization

This section is blank until Blackhawk Area Cu claims this page.

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3 program services, described in the organization's own filed words · FY2025.
01

We serve 3,784 members with savings accounts and dividend rates higher than area competitors.

Pt IX · col B
02

We have a total of 240 outstanding member mortgage and/or HELOC loans.

Pt IX · col B
03

We have a total of 1,434 outstanding member consumer loans.

Pt IX · col B

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By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$2.1M
Ln 12
Fees for servicesLn 2g$1.8M
Investment incomeLn 3$332K
Money outPt IX
$1.7M
Ln 25
Owns and owesPt X
$4.8M
net assets · Ln 32
Cash and savingsLn 1–2$5.0M
Total assetsLn 16$39.3M
LiabilitiesLn 26$34.5M
PeoplePt VI, VII
11
listed · VII A
PaidVII A2
Voting boardVI 1a9
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Government grantsLn 1e$0
Noncash giftsLn 1g$0
Fundraising eventsLn 1c$0
Fees for servicesLn 2g$1.8M
Investment incomeLn 3$332K
Gains on assetsLn 7$0
Total revenueLn 12$2.1M
Assets in detailPt X, end of year
CashLn 1$1.5M
SavingsLn 2$3.6M
Cash and savings togetherLn 1–2$5.0M
InvestmentsLn 11–13$4.4M
Land, buildings, equipmentLn 10c$239K
Other assetsLn 15$441K
Total assetsLn 16$39.3M
LiabilitiesLn 26$34.5M
Net assetsLn 32$4.8M
OperationsPt I, VI
EmployeesI 521
VolunteersI 69
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$4.4M$5.0M
InvestmentsLn 11–13$4.6M$4.4M
Land, buildings, equipmentLn 10c$218K$239K
Total assetsLn 16$38.0M$39.3M
LiabilitiesLn 26$33.7M$34.5M
Net assetsLn 32$4.3M$4.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$161K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$525K
Pension plan contributionsLn 8$33K
Other employee benefitsLn 9$162K
Payroll taxesLn 10$54K
Management feesLn 11a$0
Legal feesLn 11b$0
Accounting feesLn 11c$46K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$0
Advertising and promotionLn 12$27K
Office expensesLn 13$170K
Information technologyLn 14$112K
RoyaltiesLn 15$0
OccupancyLn 16$86K
TravelLn 17$8K
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$140
InterestLn 20$0
Payments to affiliatesLn 21$15K
Depreciation, depletion and amortizationLn 22$30K
InsuranceLn 23$33K
Other expenses (24a–d)Ln 24$199K
All other expensesLn 24e$0
Total functional expensesLn 25$1.7M$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $2.1M$1.7M$434K$4.8M 990 PDF
FY2024 $2.2M$1.7M$456K$4.3M 990 PDF
FY2023 $2.2M$1.6M$537K$3.9M 990 PDF
FY2022 $1.9M$1.6M$335K$3.4M 990 PDF
FY2021 $1.7M$1.5M$236K$2.9M 990 PDF
FY2020 $1.5M$1.4M$68K$2.7M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2025 990 (4 parts)
Part VIII · Statement of revenue $2,094,830 across 14 lines filed
Lines not itemized here account for $1,762,968 of total revenue; see the IRS return.
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$0
VIII-1d Related organizations$0
VIII-1e Government grants$0
VIII-1f All other contributions, gifts and grants$0
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$0
VIII-3 Investment incomeRelated to mission $331,862 · Unrelated business $0 · Excluded from tax $0$331,862
VIII-5 RoyaltiesRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-6 Net rental income or lossRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-7 Net gain or loss on sales of assetsRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-8 Net income from fundraising eventsUnrelated business $0 · Excluded from tax $0$0
VIII-12 Total revenueRelated to mission $2,094,830 · Unrelated business $0 · Excluded from tax $0$2,094,830
Part IX · Statement of functional expenses $1,661,032 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$160,630
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$525,367
IX-8 Pension plan contributions$32,776
IX-9 Other employee benefits$161,902
IX-10 Payroll taxes$54,224
IX-11a Management fees$0
IX-11b Legal fees$0
IX-11c Accounting fees$46,354
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for services$0
IX-12 Advertising and promotion$26,862
IX-13 Office expenses$169,959
IX-14 Information technology$111,757
IX-15 Royalties$0
IX-16 Occupancy$85,993
IX-17 Travel$7,805
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$140
IX-20 Interest$0
IX-21 Payments to affiliates$14,699
IX-22 Depreciation, depletion and amortization$30,005
IX-23 Insurance$33,259
IX-24 Other expenses (24a–d)$199,300
IX-24e All other expenses$0
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$1,661,032
Part X · Balance sheet $39,325,093 assets, 13 lines filed
Asset lines not itemized here account for $28,920,926; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $1,470,493$1,474,198
X-2 Savings and temporary cash investmentsStart of year $2,918,194$3,573,718
X-4 Accounts receivableStart of year $153,254$143,890
X-9 Prepaid expenses and deferred chargesStart of year $67,508$95,993
X-10c Land, buildings and equipment, netStart of year $218,131$239,166
X-11 Publicly traded securitiesStart of year $4,560,216$4,436,284
X-15 Other assetsStart of year $472,367$440,918
X-16 Total assetsStart of year $38,018,614$39,325,093
X-17 Accounts payable and accrued expensesStart of year −$155,495−$257,143
X-25 Other liabilitiesStart of year $33,897,593$34,759,934
X-26 Total liabilitiesStart of year $33,742,098$34,502,791
X-32 Total net assets or fund balancesStart of year $4,276,516$4,822,302
X-33 Total liabilities and net assetsStart of year $38,018,614$39,325,093
Part XI · Reconciliation of net assets $4,822,302 net assets at year end
XI-1 Total revenue$2,094,830
XI-2 Total expenses$1,661,032
XI-3 Revenue less expenses$433,798
XI-4 Net assets at start of year$4,276,516
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$111,988
XI-10 Net assets at end of year$4,822,302

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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