Civic Intelligence

196 Middletown Area Schools Credit Union

EIN 31-0622053 • 501(c)14 • Middletown, OH

Profile

The mission of the member-owned Middletown Area Schools Credit Union is to provide quality financial services to its members while maintaining fiscal responsibility.

1730 Central AvenueMiddletown, OH 45044-4140

www.mascu.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

51st percentile

0.86x

Higher debt load relative to assets than 51% of similar nonprofits.

501(c)14 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

32nd percentile

13.19x

Higher debt load relative to revenue than 32% of similar nonprofits.

501(c)14 • $10M-$25M nonprofits • Source year 2024

Net Margin

91st percentile

29%

Higher net margin than 91% of similar nonprofits.

501(c)14 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

11th percentile

$0

Higher top officer pay than 11% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)14 • $10M-$25M nonprofits • Source year 2024

Asset Growth

74th percentile

3.9%

Faster asset growth than 74% of similar nonprofits.

501(c)14 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

29th percentile

1.3%

Faster revenue growth than 29% of similar nonprofits.

501(c)14 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Assets

Up

$10,193,948

Up $386,107 (+3.9%) from 2023

Liabilities

Up

$8,721,815

Up $196,143 (+2.3%) from 2023

Net Assets

Up

$1,472,133

Up $189,964 (+15%) from 2023

Revenue

Up

$661,055

Up $8,584 (+1.3%) from 2023

Expenses

Down

$471,091

Down $31,546 (-6.3%) from 2023

Net Income

Up

$189,964

Up $40,130 (+27%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$15M$10M$5.0M$0Assets 2017: $8,068,179Liabilities 2017: $7,032,838Net Assets 2017: $1,035,3412017Assets 2018: $7,829,480Liabilities 2018: $6,700,769Net Assets 2018: $1,128,7112018Assets 2019: $8,279,801Liabilities 2019: $7,131,277Net Assets 2019: $1,148,5242019Assets 2020: $9,328,886Liabilities 2020: $8,208,807Net Assets 2020: $1,120,0792020Assets 2021: $11,020,574Liabilities 2021: $9,940,826Net Assets 2021: $1,079,7482021Assets 2022: $9,398,111Liabilities 2022: $8,264,686Net Assets 2022: $1,133,4252022Assets 2023: $9,807,841Liabilities 2023: $8,525,672Net Assets 2023: $1,282,1692023Assets 2024: $10,193,948Liabilities 2024: $8,721,815Net Assets 2024: $1,472,1332024

Highlighted filing

2024

Assets$10,193,948
Liabilities$8,721,815
Net Assets$1,472,133

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$800K$600K$400K$200K$0-$200KRevenue 2017: $448,712Expenses 2017: $380,646Net Income 2017: $68,0662017Revenue 2018: $470,989Expenses 2018: $377,619Net Income 2018: $93,3702018Revenue 2019: $449,701Expenses 2019: $429,888Net Income 2019: $19,8132019Revenue 2020: $391,503Expenses 2020: $415,398Net Income 2020: -$23,8952020Revenue 2021: $355,100Expenses 2021: $376,909Net Income 2021: -$21,8092021Revenue 2022: $404,301Expenses 2022: $350,624Net Income 2022: $53,6772022Revenue 2023: $652,471Expenses 2023: $502,637Net Income 2023: $149,8342023Revenue 2024: $661,055Expenses 2024: $471,091Net Income 2024: $189,9642024

Highlighted filing

2024

Revenue$661,055
Expenses$471,091
Net Income$189,964

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Apr 14, 2025
Return Version
2024v5.0
Gross Receipts
$661,055
Mission and Program Overview

Mission

The mission of the member-owned Middletown Area Schools Credit Union is to provide quality financial services to its members while maintaining fiscal responsibility.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$5,021,161$5,352,217▲ $331,056
Investments Other Securities$2,719,000$2,646,000▼ $73,000
Savings and Temporary Cash Investments$1,473,808$1,535,322▲ $61,514
Rtn Earn Endowment Incm Other Fnds$1,282,169$1,472,133▲ $189,964
Cash and Non-Interest-Bearing Accounts$199,342$261,177▲ $61,835
Investments Program Related$138,940$138,940→ $0
Land, Buildings, and Equipment, Net$94,258$83,740▼ $10,518
Accounts Receivable$33,706$50,129▲ $16,423
Receivables From Officers Etc$35,944$42,424▲ $6,480
Prepaid Expenses and Deferred Charges$11,364$1,882▼ $9,482
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$9,807,841$10,193,948▲ $386,107
Other Assets Total$80,318$82,117▲ $1,799
Liabilities
Other Liabilities$8,502,098$8,701,671▲ $199,573
Accounts Payable and Accrued Expenses$23,574$20,144▼ $3,430
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$8,525,672$8,721,815▲ $196,143
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,282,169$1,472,133▲ $189,964
Total Liabilities and Net Assets / Fund Balance$9,807,841$10,193,948▲ $386,107

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$52,281$194,387$246,668
Equipment$5,559$24,489$30,048
Land$25,900-$25,900
Other Land Buildings$0$0$0
Leasehold Improvements$0$0$0
Other Securities$2,646,000--
Closely Held Equity Interests$0--
Financial Derivatives$0--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Martha MorganDirector/Chairperson
James J StiverDirector/Vice Chairperson
Cecil R BargerDirector
Linda JesterDirector
Shirley ChaputaDirector
Terry SnellingDirector
Mary A GastDirector-Secretary/Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$468,958
Investment Income
$192,097
Other Revenue
$0
All Other Contributions
$0
Change in Net Assets
$189,964
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$302,046
Salaries, Compensation, and Employee Benefits$169,045
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$138,807
Information Technology---$57,059
Interest---$32,175
Occupancy---$18,269
Pension Plan Contributions---$16,709
Office Expenses---$14,981
Insurance---$12,615
Depreciation Depletion---$12,246
Payroll Taxes---$11,718
Fees for Services Accounting---$11,493
Fees for Services Other---$8,992
Fees for Services Legal---$5,660
Other Expenses---$5,255
Advertising---$4,099
All Other Expenses---$3,491
Conferences and Meetings---$2,848
Other Employee Benefits---$1,811
Travel---$1,561
Total Functional Expenses$0$0$0$471,091
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees$35,944$42,424▲ $6,480
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Regular Shares$7,179,864
Share Drafts$1,154,999
Certificate Shares$359,371
Club Shares$7,437
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

Each individual who qualifies under field of membership criteria and that has a share account is a member of the state-chartered credit union. The credit union is comprised of a single class of approximately 1,016 member-owners. Each member has equal rights in ownership, governance and voting rights at the annual meeting.

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

The board of directors is elected by the members of the credit union at the annual meeting. The board is elected for three-year terms on a rotating basis. Candidates are elected by a single plurality vote.

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

The board of directors is informed of the filing of Form 990 and the related schedules. The reports are available for review upon request.

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

The board reviews, discusses and monitors potential conflict of interest issues.

Form 990, Part VI, Section B, Line 15

The board meets in executive session and votes on the manager's compensation. The compensation for employees is reviewed and voted on during a regular board meeting.

Form 990, Part VI, Section C, Line 19

The credit union's governing documents, financial statements, Conflict of Interest Policy and Whistle Blower Policy can be reviewed by appointment at the credit union's office during posted business hours upon request. The credit union's financial statements are posted in the lobby. The credit union's NCUA 5300 reports are available online at https://www.ncua.gov.

Filing and Contact Details

Filer

Filer Name
196 Middletown Area Schools Credit Union
EIN
31-0622053
Phone
5134222392
Address
1730 Central Avenue, Middletown, OH 45044-4140

Signing Officer

Name
Martha Morgan
Title
President
Phone
5134657077
Signed
2025-04-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Martha Morgan
Formed
1937
Legal Domicile
Oh
Voting Board Members
7
Independent Board Members
4
Employees
5
Volunteers
7

Preparer

Firm
Stoodt's Accounting & Auditing Services
Address
2713 Township Road 182, Bellefontaine, OH 43311
Preparer
Carol Stoodt
Phone
9379353811
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IRS990/NetIncomeFromGamingGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeFromGamingGrp/UnrelatedBusinessRevenueAmt00
IRS990/NetIncomeOrLossGrp/ExclusionAmt00
IRS990/NetIncomeOrLossGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/UnrelatedBusinessRevenueAmt00
IRS990/NetRentalIncomeOrLossGrp/ExclusionAmt00
IRS990/NetRentalIncomeOrLossGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/UnrelatedBusinessRevenueAmt00
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt00
IRS990/NoncashContributionsAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/TotalAmt018269
IRS990/OfficeExpensesGrp/TotalAmt014981
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt080318
IRS990/OtherAssetsTotalGrp/EOYAmt082117
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/TotalAmt01811
IRS990/OtherExpensesGrp/Desc0ATM/Share Draft Charges/Fraud
IRS990/OtherExpensesGrp/Desc1Loan Servicing/VisanExpenses
IRS990/OtherExpensesGrp/Desc2Provision for Loan Losses
IRS990/OtherExpensesGrp/Desc3Div of Cr Un Supervisory
IRS990/OtherExpensesGrp/TotalAmt065825
IRS990/OtherExpensesGrp/TotalAmt125477
IRS990/OtherExpensesGrp/TotalAmt220000
IRS990/OtherExpensesGrp/TotalAmt35255
IRS990/OtherLiabilitiesGrp/BOYAmt08502098
IRS990/OtherLiabilitiesGrp/EOYAmt08701671
IRS990/OtherOrganizationDsc0Credit Union
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/TotalAmt0138807
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt05021161
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt05352217
IRS990/PartialLiquidationInd00
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayrollTaxesGrp/TotalAmt011718
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt016709
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt011364
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt01882
IRS990/PrincipalOfficerNm0Martha Morgan
IRS990/PriorPeriodAdjustmentsAmt00
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/BusinessCd1900099
IRS990/ProgramServiceRevenueGrp/BusinessCd2900099
IRS990/ProgramServiceRevenueGrp/BusinessCd3900099
IRS990/ProgramServiceRevenueGrp/BusinessCd4900099
IRS990/ProgramServiceRevenueGrp/Desc0Interest on Loans & Credit Cards
IRS990/ProgramServiceRevenueGrp/Desc1Misc. Member Pd Fees
IRS990/ProgramServiceRevenueGrp/Desc2Other Operating Income
IRS990/ProgramServiceRevenueGrp/Desc3Loan & Visa Late Fees
IRS990/ProgramServiceRevenueGrp/Desc4Dormant Account Fees
IRS990/ProgramServiceRevenueGrp/ExclusionAmt00
IRS990/ProgramServiceRevenueGrp/ExclusionAmt10
IRS990/ProgramServiceRevenueGrp/ExclusionAmt20
IRS990/ProgramServiceRevenueGrp/ExclusionAmt30
IRS990/ProgramServiceRevenueGrp/ExclusionAmt40
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0347443
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt157765
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt234262
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt327608
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt4502
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0347443
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt157765
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt234262
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt327608
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt4502
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt10
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt20
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt30
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt40
IRS990/ProgSrvcAccomActy2Grp/Desc0Loan products offered by the credit union includes new and used vehicle loans, recreational vehicle loans and share secured loans, unsecured loans and credit cards, The credit union granted 216 loans in 2024 totaling $2,559,319 at competitive rates. Loans increased 6.56% in 2024.
IRS990/ProgSrvcAccomActy3Grp/Desc0The credit union paid dividends on the 653 share accounts and share certificate accounts held by the credit union's 1,016 members. Shares increased 2.36% in 2024.
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0181667
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0345379
IRS990/PYOtherRevenueAmt063730
IRS990/PYProgramServiceRevenueAmt0407074
IRS990/PYRevenuesLessExpensesAmt0149834
IRS990/PYSalariesCompEmpBnftPaidAmt0157258
IRS990/PYTotalExpensesAmt0502637
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0652471
IRS990/RcvblFromDisqualifiedPrsnGrp/BOYAmt00
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt035944
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt042424
IRS990/ReconcilationRevenueExpnssAmt0189964
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RelatedOrganizationsAmt00
IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
IRS990/ReportInvestmentsOtherSecInd01
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/ExclusionAmt00
IRS990/RoyaltiesRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RoyaltiesRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt01282169
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt01472133
IRS990/SavingsAndTempCashInvstGrp/BOYAmt01473808
IRS990/SavingsAndTempCashInvstGrp/EOYAmt01535322
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt052281
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0194387
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0246668
IRS990ScheduleD/CloselyHeldEquityInterestsGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/BookValueAmt05559
IRS990ScheduleD/EquipmentGrp/DepreciationAmt024489
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt030048
IRS990ScheduleD/FederalIncomeTaxLiabilityAmt00
IRS990ScheduleD/FinancialDerivativesGrp/BookValueAmt00
IRS990ScheduleD/LandGrp/BookValueAmt025900
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt025900
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt07179864
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt11154999
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2359371
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt37437
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Regular Shares
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Share Drafts
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Certificate Shares
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3Club Shares
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt02646000
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Primary Financial SimpliCD

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