TIN:
SCHEDULE O
(Form 990 or 990-EZ)
Department of the Treasury
Internal Revenue Service
(Form 990 or 990-EZ)
Department of the Treasury
Internal Revenue Service
Supplemental Information to Form 990 or 990-EZ
Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
2019
Open to Public
Inspection
Inspection
Name of the organization
CORNERSTONE CREDIT UNION LEAGUE
Employer identification number
75-0603700
75-0603700
| Return Reference | Explanation |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | THE MEMBERS OF THE ORGANIZATION INCLUDE THE CREDIT UNIONS THAT HAVE BECOME MEMBERS OF THE ASSOCIATION TO UTILIZE THE ORGANIZATIONS METHODS OF ENCOURAGING BETTER OPERATING METHODS, PERFORM CENTRAL BUSINESS FUNCTIONS, AND PROMOTE THE ORGANIZATION, DEVELOPMENT, AND PROGRESS OF THE MEMBER CREDIT UNIONS |
| FORM 990, PART VI, SECTION A, LINE 7A | PRIOR TO THE ANNUAL MEETING THE DELEGATES SHALL ELECT FROM THE MEMBERSHIP OF ITS MEMBERS, EIGHTEEN DIRECTORS TO CONSTITUTE THE BOARD OF DIRECTORS, EXCEPT FOR DIRECTORS SELECTED TO FILL A VACANCY, DIRECTORS WILL BE ELECTED FOR A TERM OF THREE YEARS. NO MEMBER CREDIT UNION SHALL BE ENTITLED TO BE REPRESENTED BY MORE THAN ONE DIRECTOR AND NO DIRECTOR CAN REPRESENT MORE THAN ONE CREDIT UNION. AT THE FIRST MEETING OF THE INITIAL BOARD OF DIRECTORS, AND AT THE FIRST MEETING OF THE BOARD OF DIRECTORS FOLLOWING EACH ANNUAL MEETING OF MEMBER CREDIT UNIONS BEGINNING IN 2015. THE BOARD OF DIRECTOR SHALL ELECT BOARD OFFICERS, EACH OF WHOM SHALL BE A DIRECTOR. |
| FORM 990, PART VI, SECTION A, LINE 7B | PER THE BYLAWS OF THE ORGANIZATION "THE AFFAIRS OF THE LEAGUE SHALL BE MANAGED BY THE BOARD OF DIRECTORS". ALSO "THE EXECUTIVE COMMITTEE, EXCEPT WHEN THE BOARD OF DIRECTORS IS IN SESSION AND EXCEPT AS OTHERWISE LIMITED BY RESOLUTION OF THE BOARD OF DIRECTORS, SHALL HAVE AND MAY EXERCISE ALL THE POWERS GRANTED HEREIN TO THE BOARD OF DIRECTORS IN THE MANAGEMENT OF THE BUSINESS AD AFFAIRS OF THE LEAGUE EXCEPT WHERE ACTION BY THE BOARD OF DIRECTORS IS REQUIRED BY APPLICABLE LAWS". |
| FORM 990, PART VI, SECTION B, LINE 11B | THE ORGANIZATION HIRES AN OUTSIDE ACCOUNTING FIRM TO PREPARE AND REVIEW THE ANNUAL FORM 990. SUBSEQUENT TO FILING THE RETURN, THE BOARD REVIEWS THE RETURN AT THEIR NEXT MEETING. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE GOVERNING BODY MEMBER ANNUAL QUESTIONNAIRE WILL BE COMPLETED ON AN ANNUAL BASIS TO IDENTIFY ANY POTENTIAL CONFLICTS OF INTEREST. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE ORGANIZATION UTILIZES A PROGRAM CALLED COMPEASE TO DETERMINE THE RANGES OF EACH POSITION. THIS PROGRAM ALLOWS THE ORGANIZATION TO EVALUATE ALL OF THEIR POSITIONS USING MARKET DATA AND INTERNAL EQUITY. THE ORGANIZATION ANALYZES POSITIONS USING A JOB EVALUATION METHOD WHICH LOOKS AT TH ELEVEL OF RESPONSIBILITY IN A POSITION. THE POSITIONS ARE EVALUATED BY HR, MANAGEMENT AND YEARLY AUDITED BY A JOB EVALUATION COMMITTEE. THE MARKET DATA IS PROVIDED BY AN EXTERNAL CONSULTANT KG AND ASSOCIATES. POSITIONS ARE ASSIGNED A GRADE AND SALARY RANGE. STAFF ARE HIRED AND GIVEN SALARY RANGES WITHIN THE RANGE BASED ON EXPERIENCE AND PERFORMANCE IN THE JOB. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE BY PROVIDING COPIES UPON REQUEST. |
| FORM 990, PART IX, LINE 24E | CORPORATE SUPPORT SERVICES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 369,706. EQUIPMENT RENTAL AND MAINTENANCE: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 227,712. BOARD AND COMMITTEE: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 148,210. PRINTING: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 126,660. OTHER OPERATING: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 108,733. TELEPHONE: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 98,271. COUNCIL PROGRAM EXPENSE: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 88,970. POSTAGE: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 5,716. |
| FORM 990, PART XI, LINE 8 | THE ORGANIZATION HAS IN PLACE A COMMITEE THAT IS RESPONSIBLE FOR THE OVERSIGHT OF THE AUDIT, REVIEW, OR COMPILATION OF ITS FINANCIAL STATEMENTS, JUST AS IT DID IN PRIOR YEARS. |
| FORM 990, PART XI, LINE 8 | PRIOR PERIOD ADJUSTMENT AMOUNT OF $766,375 WERE USED TO TIE THE DIFFERENCE IN NET ASSETS BETWEEN THE 2018 AUDITED FINANCIAL STATEMENT AND THE BEGINNING NET ASSETS ON THE 2019 AUDITED FINANCIAL STATEMENT. THE DIFFERENCE OF $766,375 WAS DUE TO THE FACT THAT CCUL REVISED PART OF THEIR BOOKS AFTER THE 2018 AUDIT WAS PERFORMED, THEREFORE, THIS REVISED THE BEGINNING OF YEAR BALANCES FOR 2019. |
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990 or 990-EZ) 2019
Additional Data
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