Civic Intelligence

Dexter Credit Union

990 • Fiscal year 2015 • EIN 05-0256493

Jan 01, 2015 to Dec 31, 2015 • Filed on Mar 29, 2016

Organization ProfileWWW.DEXTERCU.ORG

View Organization Page

934 Dexter StreetCentral Falls, RI 02863

(401) 724-6200

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

100th percentile

0.94x

Higher debt load relative to assets than 100% of similar nonprofits.

2015 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2015

Liabilities / Revenue

42nd percentile

18.07x

Higher debt load relative to revenue than 42% of similar nonprofits.

2015 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2015

Net Margin

1st percentile

-40%

Higher net margin than 1% of similar nonprofits.

2015 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2015

Top Officer Pay

93rd percentile

$225,572

Higher top officer pay than 93% of similar nonprofits.

Top officer pay equals 4.5% of source-year revenue.

2015 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2015

Asset Growth

1st percentile

-12%

Faster asset growth than 1% of similar nonprofits.

2015 filings • 501(c)14 • $50M-$100M nonprofits • Annualized from 2014 to 2015

Revenue Growth

1st percentile

-22%

Faster revenue growth than 1% of similar nonprofits.

2015 filings • 501(c)14 • $50M-$100M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets100th percentile

Assets

Down

$96,658,279

Down $12,585,304 (-12%) from 2014

Net Assets

Down

$5,513,996

Down $1,562,008 (-22%) from 2014

Liabilities

Down

$91,144,283

Down $11,023,296 (-11%) from 2014

Revenue And Expenses
Liabilities / Revenue42nd percentileNet Margin1st percentile

Revenue

Down

$5,043,492

Down $1,445,997 (-22%) from 2014

Expenses

Down

$7,061,092

Down $365,215 (-4.9%) from 2014

Net Income

Down

-$2,017,600

Down $1,080,782 (-115%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth1st percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$150M$100M$50M$0Assets 2010: $120,503,384Liabilities 2010: $110,130,772Net Assets 2010: $10,372,6122010Assets 2011: $121,865,975Liabilities 2011: $111,538,803Net Assets 2011: $10,327,1722011Assets 2012: $120,822,559Liabilities 2012: $111,026,336Net Assets 2012: $9,796,2232012Assets 2013: $123,716,965Liabilities 2013: $116,007,804Net Assets 2013: $7,709,1612013Assets 2014: $109,243,583Liabilities 2014: $102,167,579Net Assets 2014: $7,076,0042014Assets 2015: $96,658,279Liabilities 2015: $91,144,283Net Assets 2015: $5,513,9962015

Highlighted filing

2015

Assets$96,658,279
Liabilities$91,144,283
Net Assets$5,513,996
Open 2015 Filing

Operations Trend

Revenue Growth1st percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$10M$5.0M$0-$5.0MExpenses 2010: $5,771,2032010Expenses 2011: $5,553,5412011Revenue 2012: $5,349,838Expenses 2012: $6,295,840Net Income 2012: -$946,0022012Revenue 2013: $6,306,928Expenses 2013: $7,185,884Net Income 2013: -$878,9562013Revenue 2014: $6,489,489Expenses 2014: $7,426,307Net Income 2014: -$936,8182014Revenue 2015: $5,043,492Expenses 2015: $7,061,092Net Income 2015: -$2,017,6002015

Highlighted filing

2015

Revenue$5,043,492
Expenses$7,061,092
Net Income-$2,017,600
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Mar 29, 2016
Return Version
2015v2.1
Gross Receipts
$5,043,492
Mission and Program Overview

Mission

The credit union is committed to: 1) being responsive to the needs of the membership it serves; 2) providing service with a personal touch; and 3) providing products and services which are competitively priced and which are consistent with the overall long-term business plan.

CREDIT UNION SERVICES

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$79,829,075$67,875,597▼ $11,953,478
Investments in Publicly Traded Securities$11,685,868$9,931,035▼ $1,754,833
Land, Buildings, and Equipment, Net$9,935,391$9,407,360▼ $528,031
Rtn Earn Endowment Incm Other Fnds$7,076,004$5,513,996▼ $1,562,008
Savings and Temporary Cash Investments$2,813,893$3,874,224▲ $1,060,331
Cash and Non-Interest-Bearing Accounts$1,313,345$2,090,944▲ $777,599
Investments Other Securities$1,844,364$1,698,997▼ $145,367
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$109,243,583$96,658,279▼ $12,585,304
Other Assets Total$1,821,647$1,780,122▼ $41,525
Liabilities
Other Liabilities$102,127,881$91,101,264▼ $11,026,617
Accounts Payable and Accrued Expenses$39,698$43,019▲ $3,321
Total Liabilities$102,167,579$91,144,283▼ $11,023,296
Net Assets / Fund Balance
Total Net Assets Fund Balance$7,076,004$5,513,996▼ $1,562,008
Total Liabilities and Net Assets / Fund Balance$109,243,583$96,658,279▼ $12,585,304

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$6,990,375$2,481,890$9,472,265
Equipment$1,214,524$2,016,390$3,230,914
Land$1,182,924-$1,182,924
Other Land Buildings$19,537-$19,537
Compensation and Service Providers
Top Officer Pay93rd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Stephen J Angell EsquirePresident & CEOFT$224,602$970$224,602
Jon E Walmsley CPASr Exec Vice President/CFOFT$132,228$832$133,060
Paul R BrousseauSr Exec Vice PresidentFT$96,961$970$97,931

Board Members and Trustees

NameTitle
Thomas P Kiley CPAChairman
Roger E Lapierre CrpcFirst Vice Chairman
Joseph L Chiodo CPASecond Vice Chairman
Mark W Enander DpmDirector
Roy SilvaSecretary
Gary D Disciullo CPASupervisory Committee Chai
Timothy MaillouxSupervisory Committee Memb
Robert W LeblancTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$4,701,398
Investment Income
$313,325
Other Revenue
$28,769
Change in Net Assets
$-2,017,600

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,043,492
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$5,043,492
Total Revenue per Form 990
$5,043,492
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,924,145
Salaries, Compensation, and Employee Benefits$2,136,947
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$1,599,463
All Other Expenses---$731,639
Depreciation Depletion---$538,285
Interest---$403,174
Other Expenses---$331,530
Occupancy---$268,477
Advertising---$240,452
Fees for Services Legal---$236,583
Other Employee Benefits---$230,351
Pension Plan Contributions---$163,570
Payroll Taxes---$143,563
Fees for Service Investment Mgmnt Fees---$142,562
Insurance---$81,853
Fees for Services Other---$77,665
Office Expenses---$39,417
Travel---$33,754
Fees for Services Accounting---$30,841
Conferences and Meetings---$23,904
Total Functional Expenses$0$0$0$7,061,092

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$7,061,092
Total Expenses per Audited Statements$7,061,092
Total Expenses per Form 990$7,061,092
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Certificates of Deposit$31,138,906
Share Accounts$24,984,769
Demand Deposit Accounts$18,116,382
Money Market Accounts$14,386,798
Individual Retirement Accounts$2,012,319
Advance Payments by Borrowers for Taxes and Insurance$401,551
Club Accounts$35,088
Savings Accounts$25,451
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

“The organization is a credit union that is owned by its members.”

Form 990, Part VI, Section A, Line 7A

“The organization has members who may elect the members of the board of directors.”

Form 990, Part VI, Section A, Line 7B

“The governing body's decision as to the amount paid for director and committee fees are subject to approval by the members of the organization.”

Form 990, Part VI, Section B, Line 11

“Form 990 was provided to the supervisory committee, chief executive officer, and chief financial officer for review before it was filed.”

Form 990, Part VI, Section B, Line 12C

“The organization regularly and consistently monitors and enforces compliance with the conflict of interest policy through an acknowledgement agreement and certification with the directors and committee members. This standards of fiduciary responsibility and code of conduct policy is signed and dated by each director/committee member and retained on file.”

Form 990, Part VI, Section B, Line 15A

“The process for determining compensation of the organization's chief executive officer and top management officials includes a review comparability data and approval by independent persons.”

Form 990, Part VI, Section C, Line 18

“The organization makes its forms 1023 and 990 available upon request.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents and conflict of interest policy available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Dexter Credit Union
EIN
05-0256493
Phone
4017246200
Address
934 DEXTER STREET, CENTRAL FALLS, RI 02863

Signing Officer

Name
Jon E Walmsley
Title
Senior Vice President & CFO
Phone
4017246200
Signed
2016-03-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jon E Walmsley CPA
Formed
1947
Legal Domicile
Ri
Voting Board Members
8
Independent Board Members
7
Employees
49
Volunteers
0

Preparer

Firm
Nadeau Wadovick Llp
Address
875 CENTERVILLE ROAD, WARWICK, RI 02886
Preparer
Jeffrey D Wadovick CPA
Phone
4018234004
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 24E

“Loss - impaired securities 111,920. Maintenance contracts 79,012. Lawsuit settlment 75,000. Atm expenses 70,713. Postage 67,452. State taxes on deposits 63,365. Indirect lending fees 59,705. Office supplies 37,170. Telephone 32,140. Network charges 29,080. Credit union fees 27,512. Visa check card expense 23,532. Dues and subscriptions 15,628. Alm report fees 13,300. Dda department expense 10,926. Lsi insurance 7,360. Fnma risk adjustment 6,720. Safe deposit 1,104.”

FORM 990, PART XI, LINE 9:

“Other comprehensive income - net pension benefit obligation 365,672.”

Form 990, Part XI, Line 2C

“The organization has a committee which assumes responsibility for oversight of the financial statement audit and selection of independent accountants. This process has not changed from the prior year.”

Financial Statement Notes

PART X, LINE 2:

“The credit union is exempt, by statute, from federal income taxes by the internal revenue code (irc) section 501(c)(14). As such, the credit union is exempt from federal taxation of income derived from the performance of activities that are in furtherance of its exempt purposes. The credit union follows the codification guidance on accounting for uncertainty in income taxes for the years ended december 31, 2015 and 2014. Management evaluated the credit union's tax positions and concluded that the credit union had taken no uncertain tax positions that require adjustment to the financial statements to comply with the provisions of this guidance.”

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IRS990/OtherEmployeeBenefitsGrp/TotalAmt0230351
IRS990/OtherExpensesGrp/Desc0PROVISION FOR LOAN LOSS
IRS990/OtherExpensesGrp/Desc1DEALER COMMISSIONS
IRS990/OtherExpensesGrp/Desc2DATA PROCESSING
IRS990/OtherExpensesGrp/Desc3LOAN SERVICING
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IRS990/OtherExpensesGrp/TotalAmt3331530
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IRS990/OtherRevenueMiscGrp/Desc0MISCELLANEOUS REVENUE
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IRS990/OtherSalariesAndWagesGrp/TotalAmt01599463
IRS990/OtherWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/TotalAmt0143563
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IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt0163570
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0JON E WALMSLEY CPA
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0525990
IRS990/ProgramServiceRevenueGrp/BusinessCd1525990
IRS990/ProgramServiceRevenueGrp/Desc0INTEREST ON LOANS
IRS990/ProgramServiceRevenueGrp/Desc1MEMBER SERVICE FEES
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt11152798
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt03548600
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt11152798
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt00
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IRS990/PYOtherRevenueAmt027648
IRS990/PYProgramServiceRevenueAmt05936055
IRS990/PYRevenuesLessExpensesAmt0-936818
IRS990/PYSalariesCompEmpBnftPaidAmt02401332
IRS990/PYTotalExpensesAmt07426307
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt06489489
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-2017600
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
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IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt07076004
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt05513996
IRS990/SavingsAndTempCashInvstGrp/BOYAmt02813893
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IRS990/ScheduleBRequiredInd00
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt02481890
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IRS990ScheduleD/EquipmentGrp/BookValueAmt01214524
IRS990ScheduleD/EquipmentGrp/DepreciationAmt02016390
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IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt01182924
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt019537
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt019537
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt024984769
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt118116382
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt214386798
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt32012319
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt435088
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt525451
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt631138906
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt7401551
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SHARE ACCOUNTS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DEMAND DEPOSIT ACCOUNTS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2MONEY MARKET ACCOUNTS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3INDIVIDUAL RETIREMENT ACCOUNTS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc4CLUB ACCOUNTS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc5SAVINGS ACCOUNTS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc6CERTIFICATES OF DEPOSIT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc7ADVANCE PAYMENTS BY BORROWERS FOR TAXES AND INSURANCE
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt05043492
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL INCOME TAXES BY THE INTERNAL REVENUE CODE (IRC) SECTION 501(C)(14). AS SUCH, THE CREDIT UNION IS EXEMPT FROM FEDERAL TAXATION OF INCOME DERIVED FROM THE PERFORMANCE OF ACTIVITIES THAT ARE IN FURTHERANCE OF ITS EXEMPT PURPOSES. THE CREDIT UNION FOLLOWS THE CODIFICATION GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES FOR THE YEARS ENDED DECEMBER 31, 2015 AND 2014. MANAGEMENT EVALUATED THE CREDIT UNION'S TAX POSITIONS AND CONCLUDED THAT THE CREDIT UNION HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt09407360
IRS990ScheduleD/TotalExpensesPerForm990Amt07061092
IRS990ScheduleD/TotalLiabilityAmt091101264
IRS990ScheduleD/TotalRevenuePerForm990Amt05043492
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt05043492
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt07061092
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0224602
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0STEPHEN J ANGELL ESQUIRE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT & CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0224602
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS A CREDIT UNION THAT IS OWNED BY ITS MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION HAS MEMBERS WHO MAY ELECT THE MEMBERS OF THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE GOVERNING BODY'S DECISION AS TO THE AMOUNT PAID FOR DIRECTOR AND COMMITTEE FEES ARE SUBJECT TO APPROVAL BY THE MEMBERS OF THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3FORM 990 WAS PROVIDED TO THE SUPERVISORY COMMITTEE, CHIEF EXECUTIVE OFFICER, AND CHIEF FINANCIAL OFFICER FOR REVIEW BEFORE IT WAS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY THROUGH AN ACKNOWLEDGEMENT AGREEMENT AND CERTIFICATION WITH THE DIRECTORS AND COMMITTEE MEMBERS. THIS STANDARDS OF FIDUCIARY RESPONSIBILITY AND CODE OF CONDUCT POLICY IS SIGNED AND DATED BY EACH DIRECTOR/COMMITTEE MEMBER AND RETAINED ON FILE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE PROCESS FOR DETERMINING COMPENSATION OF THE ORGANIZATION'S CHIEF EXECUTIVE OFFICER AND TOP MANAGEMENT OFFICIALS INCLUDES A REVIEW COMPARABILITY DATA AND APPROVAL BY INDEPENDENT PERSONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE ORGANIZATION MAKES ITS FORMS 1023 AND 990 AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8LOSS - IMPAIRED SECURITIES 111,920. MAINTENANCE CONTRACTS 79,012. LAWSUIT SETTLMENT 75,000. ATM EXPENSES 70,713. POSTAGE 67,452. STATE TAXES ON DEPOSITS 63,365. INDIRECT LENDING FEES 59,705. OFFICE SUPPLIES 37,170. TELEPHONE 32,140. NETWORK CHARGES 29,080. CREDIT UNION FEES 27,512. VISA CHECK CARD EXPENSE 23,532. DUES AND SUBSCRIPTIONS 15,628. ALM REPORT FEES 13,300. DDA DEPARTMENT EXPENSE 10,926. LSI INSURANCE 7,360. FNMA RISK ADJUSTMENT 6,720. SAFE DEPOSIT 1,104.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9OTHER COMPREHENSIVE INCOME - NET PENSION BENEFIT OBLIGATION 365,672.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt10THE ORGANIZATION HAS A COMMITTEE WHICH ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE FINANCIAL STATEMENT AUDIT AND SELECTION OF INDEPENDENT ACCOUNTANTS. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PART IX, LINE 24E
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9FORM 990, PART XI, LINE 9:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc10FORM 990, PART XI, LINE 2C
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0RI
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0109243583
IRS990/TotalAssetsEOYAmt096658279
IRS990/TotalAssetsGrp/BOYAmt0109243583
IRS990/TotalAssetsGrp/EOYAmt096658279
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalEmployeeCnt049
IRS990/TotalFunctionalExpensesGrp/TotalAmt07061092
IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesGrp/EOYAmt091144283
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IRS990/TotalProgramServiceRevenueAmt04701398
IRS990/TotalReportableCompFromOrgAmt0453791
IRS990/TotalRevenueGrp/ExclusionAmt0313325
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt04730167
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt05043492

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$96,658,279
Liabilities
$91,144,283
Net assets
$5,513,996
Revenue
$5,043,492
Expenses
$7,061,092
Net income
-$2,017,600
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2015Detailed filing. Detailed filing data is available for this year.$96.7$91.1$5.51$5.04$7.06$2.02
2014Detailed filing. Detailed filing data is available for this year.$109$102$7.08$6.49$7.43$0.94
2013Detailed filing. Detailed filing data is available for this year.$124$116$7.71$6.31$7.19$0.88
2012Summary only. Only limited summary data is available for this year.$121$111$9.80$5.35$6.30$0.95
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$122$112$10.3$5.55
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$121$110$10.4$5.77