Civic Intelligence

Metropolitan District Employees Credit

990 • Fiscal year 2019 • EIN 06-0709551

Jan 01, 2019 to Dec 31, 2019 • Filed on Jun 18, 2020

Organization ProfileWWW.MDECU.ORG

View Organization Page

PO Box 1348Hartford, CT 06143

(860) 560-9036

Siviq Scores

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

Liabilities / Assets

49th percentile

0.86x

Higher debt load relative to assets than 49% of similar nonprofits.

2019 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2019

Liabilities / Revenue

79th percentile

22.51x

Higher debt load relative to revenue than 79% of similar nonprofits.

2019 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2019

Net Margin

18th percentile

1.5%

Higher net margin than 18% of similar nonprofits.

2019 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2019

Top Officer Pay

93rd percentile

$127,570

Higher top officer pay than 93% of similar nonprofits.

Top officer pay equals 13.5% of source-year revenue.

2019 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2019

Asset Growth

67th percentile

3.8%

Faster asset growth than 67% of similar nonprofits.

2019 filings • 501(c)14 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Revenue Growth

33rd percentile

3.1%

Faster revenue growth than 33% of similar nonprofits.

2019 filings • 501(c)14 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets49th percentile

Assets

Up

$24,818,274

Up $909,915 (+3.8%) from 2018

Net Assets

Up

$3,552,237

Up $14,564 (+0.4%) from 2018

Liabilities

Up

$21,266,037

Up $895,351 (+4.4%) from 2018

Revenue And Expenses
Liabilities / Revenue79th percentileNet Margin18th percentile

Revenue

Up

$944,864

Up $28,119 (+3.1%) from 2018

Expenses

Up

$930,300

Up $43,167 (+4.9%) from 2018

Net Income

Down

$14,564

Down $15,048 (-51%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth67th percentile

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

$40M$30M$20M$10M$0Assets 2010: $23,246,984Liabilities 2010: $1,116Net Assets 2010: $23,245,8682010Assets 2011: $23,785,166Liabilities 2011: $20,618,953Net Assets 2011: $3,166,2132011Assets 2012: $23,685,647Liabilities 2012: $20,473,309Net Assets 2012: $3,212,3382012Assets 2013: $23,449,099Liabilities 2013: $20,133,780Net Assets 2013: $3,315,3192013Assets 2014: $23,250,762Liabilities 2014: $19,871,388Net Assets 2014: $3,379,3742014Assets 2015: $24,518,274Liabilities 2015: $21,087,786Net Assets 2015: $3,430,4882015Assets 2016: $24,652,934Liabilities 2016: $21,181,821Net Assets 2016: $3,471,1132016Assets 2017: $24,304,969Liabilities 2017: $20,796,908Net Assets 2017: $3,508,0612017Assets 2018: $23,908,359Liabilities 2018: $20,370,686Net Assets 2018: $3,537,6732018Assets 2019: $24,818,274Liabilities 2019: $21,266,037Net Assets 2019: $3,552,2372019Assets 2020: $27,191,066Liabilities 2020: $23,660,704Net Assets 2020: $3,530,3622020Assets 2021: $28,442,227Liabilities 2021: $24,888,072Net Assets 2021: $3,554,1552021Assets 2022: $30,928,206Liabilities 2022: $27,318,277Net Assets 2022: $3,609,9292022Assets 2023: $32,131,533Liabilities 2023: $28,637,655Net Assets 2023: $3,493,8782023Assets 2024: $32,381,111Liabilities 2024: $28,819,025Net Assets 2024: $3,562,0862024

Highlighted filing

2019

Assets$24,818,274
Liabilities$21,266,037
Net Assets$3,552,237
Open 2019 Filing

Operations Trend

Revenue Growth33rd percentile

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

$1.5M$1.0M$500K$0-$500KExpenses 2010: $656,6872010Expenses 2011: $730,6402011Expenses 2012: $662,2232012Revenue 2013: $692,303Expenses 2013: $589,322Net Income 2013: $102,9812013Revenue 2014: $714,683Expenses 2014: $650,628Net Income 2014: $64,0552014Revenue 2015: $765,929Expenses 2015: $691,815Net Income 2015: $74,1142015Revenue 2016: $813,503Expenses 2016: $772,878Net Income 2016: $40,6252016Revenue 2017: $872,292Expenses 2017: $835,344Net Income 2017: $36,9482017Revenue 2018: $916,745Expenses 2018: $887,133Net Income 2018: $29,6122018Revenue 2019: $944,864Expenses 2019: $930,300Net Income 2019: $14,5642019Revenue 2020: $896,909Expenses 2020: $918,784Net Income 2020: -$21,8752020Revenue 2021: $864,350Expenses 2021: $840,557Net Income 2021: $23,7932021Revenue 2022: $943,824Expenses 2022: $888,050Net Income 2022: $55,7742022Revenue 2023: $1,144,783Expenses 2023: $1,100,834Net Income 2023: $43,9492023Revenue 2024: $1,422,047Expenses 2024: $1,353,839Net Income 2024: $68,2082024

Highlighted filing

2019

Revenue$944,864
Expenses$930,300
Net Income$14,564
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Jun 18, 2020
Return Version
2019v5.1
Gross Receipts
$944,864
Mission and Program Overview

Mission

We provide financial services for our members.

Provides financial services to member owners

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$15,147,366$14,685,390▼ $461,976
Investments Other Securities$6,319,373$7,708,557▲ $1,389,184
Rtn Earn Endowment Incm Other Fnds$3,537,673$3,552,237▲ $14,564
Land, Buildings, and Equipment, Net$1,132,798$1,158,401▲ $25,603
Intangible Assets$76,069$115,756▲ $39,687
Savings and Temporary Cash Investments$170,613$94,133▼ $76,480
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$23,908,359$24,818,274▲ $909,915
Other Assets Total$1,062,140$1,056,037▼ $6,103
Liabilities
Other Liabilities$20,297,179$21,182,882▲ $885,703
Accounts Payable and Accrued Expenses$73,507$83,155▲ $9,648
Total Liabilities$20,370,686$21,266,037▲ $895,351
Net Assets / Fund Balance
Total Net Assets Fund Balance$3,537,673$3,552,237▲ $14,564
Total Liabilities and Net Assets / Fund Balance$23,908,359$24,818,274▲ $909,915

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$858,999$111,153$970,152
Leasehold Improvements$120,902$61,302$182,204
Land$178,500-$178,500
Other Securities$7,708,557--
Compensation and Service Providers
Top Officer Pay93rd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Karen VietsCEO / TreasurerFT$122,260$5,310$127,570

Board Members and Trustees

NameTitle
Robert Facey JrChairperson
Trevor ParrisVice Chairperson
Douglas Woods SrBoard Member
James DayBoard Member
Sebastian FraelloBoard Member
James MasseSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$786,661
Investment Income
$158,203
Other Revenue
$0
Change in Net Assets
$14,564
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$567,284
Salaries, Compensation, and Employee Benefits$363,016
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Office Expenses---$180,996
Other Salaries and Wages---$174,364
Interest---$137,962
Current Officers, Directors, Trustees, and Key Employees---$122,260
Other Employee Benefits---$43,700
Depreciation Depletion---$28,697
Payroll Taxes---$22,692
Travel---$17,834
Advertising---$17,417
Other Expenses---$13,723
Payments to Affiliates---$13,200
Fees for Services Other---$11,267
Occupancy---$9,840
Fees for Services Accounting---$7,200
Fees for Services Legal---$2,610
All Other Expenses---$2,119
Total Functional Expenses$0$0$0$930,300
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
Member Shares$21,182,882
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
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
Yes
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 credit union has members who are part owners of the institution.”

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

“Members elect directors at the annual meeting and the directors serve a term of two years.”

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

“Most decisions are subject to approval of board members if they disagree with board decisions.”

Form 990, Part VI, Section B, Line 11B

“The tax return is reviewed by the ceo and board of directors before filing.”

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

“Policy compliance is governed by the supervisory committee.”

Form 990, Part VI, Section B, Line 15

“Salary surveys are done to determine wages of officers and other key employees.”

Form 990, Part VI, Section C, Line 19

“All information is available upon request.”

Filing and Contact Details

Filer

Filer Name
METROPOLITAN DISTRICT EMPLOYEES'
EIN
06-0709551
Phone
8605609036
Address
PO BOX 1348, HARTFORD, CT 06143

Signing Officer

Name
Karen Viets
Title
Chief Executive Officer
Phone
8605609036
Signed
2020-06-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Karen Viets
Formed
1955
Legal Domicile
Ct
Voting Board Members
6
Independent Board Members
6
Employees
9
Volunteers
11

Preparer

Firm
Whittlesey Pc
Address
280 TRUMBULL ST 24TH FL, HARTFORD, CT 06103
Preparer
Kimberly Napp
Phone
8605223111
Raw XML Appendix351 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
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IRS990/Form990PartVIISectionAGrp/TitleTxt4BOARD MEMBER
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IRS990/GrantsToOrganizationsInd00
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IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE CREDIT UNION HAS MEMBERS WHO ARE PART OWNERS OF THE INSTITUTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MEMBERS ELECT DIRECTORS AT THE ANNUAL MEETING AND THE DIRECTORS SERVE A TERM OF TWO YEARS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2MOST DECISIONS ARE SUBJECT TO APPROVAL OF BOARD MEMBERS IF THEY DISAGREE WITH BOARD DECISIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE TAX RETURN IS REVIEWED BY THE CEO AND BOARD OF DIRECTORS BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4POLICY COMPLIANCE IS GOVERNED BY THE SUPERVISORY COMMITTEE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5SALARY SURVEYS ARE DONE TO DETERMINE WAGES OF OFFICERS AND OTHER KEY EMPLOYEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6ALL INFORMATION IS AVAILABLE UPON REQUEST.
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 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt023908359
IRS990/TotalAssetsEOYAmt024818274
IRS990/TotalAssetsGrp/BOYAmt023908359
IRS990/TotalAssetsGrp/EOYAmt024818274
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt09
IRS990/TotalFunctionalExpensesGrp/TotalAmt0930300
IRS990/TotalGrossUBIAmt02542
IRS990/TotalLiabilitiesBOYAmt020370686
IRS990/TotalLiabilitiesEOYAmt021266037
IRS990/TotalLiabilitiesGrp/BOYAmt020370686
IRS990/TotalLiabilitiesGrp/EOYAmt021266037
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt03537673
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03552237
IRS990/TotalOtherCompensationAmt05310
IRS990/TotalProgramServiceRevenueAmt0786661
IRS990/TotalReportableCompFromOrgAmt0122260
IRS990/TotalRevenueGrp/ExclusionAmt0158203
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0784119
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0944864
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt02542
IRS990/TotalVolunteersCnt011
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt023908359
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt024818274
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/TotalAmt017834
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd01
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 1348
IRS990/USAddress/CityNm0HARTFORD
IRS990/USAddress/StateAbbreviationCd0CT
IRS990/USAddress/ZIPCd006143
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0WWW.MDECU.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02020-09-23 17:36:50Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0KAREN VIETS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHIEF EXECUTIVE OFFICER
ReturnHeader/BusinessOfficerGrp/PhoneNum08605609036
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-06-18
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0METROPOLITAN DISTRICT EMPLOYEES'
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CREDIT UNION INC
ReturnHeader/Filer/BusinessNameControlTxt0METR
ReturnHeader/Filer/EIN0060709551
ReturnHeader/Filer/PhoneNum08605609036
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 1348
ReturnHeader/Filer/USAddress/CityNm0HARTFORD
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CT
ReturnHeader/Filer/USAddress/ZIPCd006143
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0CA24ECF973123EF8AD4E82DCAE35FEAA6194B244
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0D190FF327F90DE58D3A9B95BDD2C686EA7253C1F
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt072.166.67.10
ReturnHeader/FilingSecurityInformation/IPDt02020-06-18
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm009:23:16
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0060903326
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0WHITTLESEY PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0280 TRUMBULL ST 24TH FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0HARTFORD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd006103
ReturnHeader/PreparerPersonGrp/PhoneNum08605223111
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0KIMBERLY NAPP
ReturnHeader/ReturnTs02020-06-18T08:23:28-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$24,818,274
Liabilities
$21,266,037
Net assets
$3,552,237
Revenue
$944,864
Expenses
$930,300
Net income
$14,564
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$32.4$28.8$3.56$1.42$1.35$0.07
2023Detailed filing. Detailed filing data is available for this year.$32.1$28.6$3.49$1.14$1.10$0.04
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$30.9$27.3$3.61$0.94$0.89$0.06
2021Detailed filing. Detailed filing data is available for this year.$28.4$24.9$3.55$0.86$0.84$0.02
2020Detailed filing. Detailed filing data is available for this year.$27.2$23.7$3.53$0.90$0.92$0.02
2019Detailed filing. Detailed filing data is available for this year.$24.8$21.3$3.55$0.94$0.93$0.01
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$23.9$20.4$3.54$0.92$0.89$0.03
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$24.3$20.8$3.51$0.87$0.84$0.04
2016Detailed filing. Detailed filing data is available for this year.$24.7$21.2$3.47$0.81$0.77$0.04
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$24.5$21.1$3.43$0.77$0.69$0.07
2014Detailed filing. Detailed filing data is available for this year.$23.3$19.9$3.38$0.71$0.65$0.06
2013Detailed filing. Detailed filing data is available for this year.$23.4$20.1$3.32$0.69$0.59$0.10
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$23.7$20.5$3.21$0.66
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$23.8$20.6$3.17$0.73
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$23.2$0.00$23.2$0.66