Civic Intelligence

Akron Municipal Employees Credit Union Inc

990 • Fiscal year 2013 • EIN 34-0922936

Jan 01, 2013 to Dec 31, 2013 • Filed on May 07, 2014

146 South High Street44308

(330) 375-2020

Siviq Scores

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

Liabilities / Assets

74th percentile

0.89x

Higher debt load relative to assets than 74% of similar nonprofits.

2013 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2013

Liabilities / Revenue

70th percentile

22.67x

Higher debt load relative to revenue than 70% of similar nonprofits.

2013 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2013

Net Margin

36th percentile

-1.1%

Higher net margin than 36% of similar nonprofits.

2013 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2013

Top Officer Pay

47th percentile

$50,164

Higher top officer pay than 47% of similar nonprofits.

Top officer pay equals 24.1% of source-year revenue.

2013 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2013

Asset Growth

88th percentile

7.2%

Faster asset growth than 88% of similar nonprofits.

2013 filings • 501(c)14 • $5M-$10M nonprofits • Annualized from 2012 to 2013

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2013

Assets

Up

$5,294,274

Up $354,266 (+7.2%) from 2012

Net Assets

Down

$568,127

Down $2,386 (-0.4%) from 2012

Liabilities

Up

$4,726,147

Up $356,652 (+8.2%) from 2012

Revenue

$208,489

No earlier filing loaded for comparison.

Expenses

Down

$210,875

Down $3,348 (-1.6%) from 2012

Net Income

-$2,386

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2010: $5,440,992Liabilities 2010: $4,830,842Net Assets 2010: $610,1502010Assets 2011: $4,956,918Liabilities 2011: $4,384,148Net Assets 2011: $572,7702011Assets 2012: $4,940,008Liabilities 2012: $4,369,495Net Assets 2012: $570,5132012Assets 2013: $5,294,274Liabilities 2013: $4,726,147Net Assets 2013: $568,1272013Assets 2014: $5,592,619Liabilities 2014: $5,024,199Net Assets 2014: $568,4202014Assets 2015: $5,706,650Liabilities 2015: $5,132,388Net Assets 2015: $574,2622015Assets 2016: $5,728,840Liabilities 2016: $5,143,873Net Assets 2016: $584,9672016Assets 2017: $6,197,332Liabilities 2017: $5,594,478Net Assets 2017: $602,8542017Assets 2018: $6,161,703Liabilities 2018: $5,537,901Net Assets 2018: $623,8022018Assets 2019: $6,445,707Liabilities 2019: $5,830,704Net Assets 2019: $615,0032019Assets 2020: $6,409,184Liabilities 2020: $5,889,191Net Assets 2020: $519,9932020

Highlighted filing

2013

Assets$5,294,274
Liabilities$4,726,147
Net Assets$568,127

Operations Trend

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

$400K$300K$200K$100K$0-$100KExpenses 2010: $267,8572010Expenses 2011: $265,3432011Expenses 2012: $214,2232012Revenue 2013: $208,489Expenses 2013: $210,875Net Income 2013: -$2,3862013Revenue 2014: $209,156Expenses 2014: $208,863Net Income 2014: $2932014Revenue 2015: $228,193Expenses 2015: $222,351Net Income 2015: $5,8422015Revenue 2016: $250,401Expenses 2016: $239,696Net Income 2016: $10,7052016Revenue 2017: $263,531Expenses 2017: $245,644Net Income 2017: $17,8872017Revenue 2018: $284,340Expenses 2018: $263,392Net Income 2018: $20,9482018Revenue 2019: $294,151Expenses 2019: $302,950Net Income 2019: -$8,7992019Revenue 2020: $188,676Expenses 2020: $283,686Net Income 2020: -$95,0102020

Highlighted filing

2013

Revenue$208,489
Expenses$210,875
Net Income-$2,386
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
May 7, 2014
Return Version
2013v3.0
Gross Receipts
$208,489
Mission and Program Overview

Mission

Akron Municipal Employees Credit Union, Inc. is a co-op whose basic objectives are to teach and encourage thrift among members and through their combined savings extend to members low cost loans for any worthwhile purpose.

Akron Municipal Employees Credit Union Inc. is a financial institution cooperative organized to provide loan and deposit products and services for its member owners.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Program Related$2,236,542$2,138,541▼ $98,001
Other Notes and Loans Receivable, Net$1,946,355$1,981,842▲ $35,487
Savings and Temporary Cash Investments$400,928$797,154▲ $396,226
Rtn Earn Endowment Incm Other Fnds$570,513$568,127▼ $2,386
Cash and Non-Interest-Bearing Accounts$273,537$299,239▲ $25,702
Land, Buildings, and Equipment, Net$23,819$20,101▼ $3,718
Prepaid Expenses and Deferred Charges$8,128$5,036▼ $3,092
Accounts Receivable$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$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$4,940,008$5,294,274▲ $354,266
Other Assets Total$50,699$52,361▲ $1,662
Liabilities
Other Liabilities$4,359,695$4,715,700▲ $356,005
Accounts Payable and Accrued Expenses$9,800$10,447▲ $647
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$4,369,495$4,726,147▲ $356,652
Net Assets / Fund Balance
Total Net Assets Fund Balance$570,513$568,127▼ $2,386
Total Liabilities and Net Assets / Fund Balance$4,940,008$5,294,274▲ $354,266

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,449$60,280$61,729
Leasehold Improvements$18,652$34,703$53,355
Investment Program Related Org$46,541--
Buildings$0$0$0
Other Land Buildings$0$0$0
Land$0-$0
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Sandra EvansChief Executive OfficerFT$43,631$6,533$50,164

Board Members and Trustees

NameTitle
Chuck HeimbaughPresident of Board
Joseph TothVice President of the Board
Anthony WhiteDirector
Eugene HertzigDirector
Redgi PriceDirector
Rochelle HendersonDirector
Roy FergusonDirector
Michelle DiFioreSecretary of Board
Dan DyerTreasurer of Board
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$191,114
Investment Income
$17,375
Other Revenue
$0
Change in Net Assets
$-2,386

Audited Revenue Reconciliation

Revenue per Audited Statements
$208,489
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$208,489
Total Revenue per Form 990
$208,489
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$114,663
Salaries, Compensation, and Employee Benefits$96,212
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$21,966$21,965$0$43,931
Other Salaries and Wages$33,396$0$0$33,396
Information Technology$30,429$0$0$30,429
Office Expenses$22,367$0$0$22,367
Other Employee Benefits$6,004$6,533$0$12,537
Insurance$7,258$3,905$0$11,163
Fees for Services Accounting$0$8,637$0$8,637
Payroll Taxes$4,523$1,825$0$6,348
Occupancy$6,314$0$0$6,314
Interest$6,300$0$0$6,300
Depreciation Depletion$3,719$0$0$3,719
Other Expenses$0$2,780$0$2,780
Conferences and Meetings$364$887$0$1,251
All Other Expenses$646$0$0$646
Advertising$201$0$0$201
Total Functional Expenses$164,343$46,532$0$210,875

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$210,875
Total Expenses per Audited Statements$210,875
Total Expenses per Form 990$210,875
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Other Expense Adjustments$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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Members share savings$4,442,153
Members draft checking$273,547
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
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

All credit unions by charter are member owned.

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

All of the governing body is elected by the membership.

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

The 990 is reviewed by management and the Board of Directors prior to submission.

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

The conflict of interest policy is reviewed by the employees and the Board of Directors annually.

Form 990, Part VI, Section B, Line 15

Compensation of key employees is approved by the Board of Directors. Independent compensation surveys are utilized as a tool in setting compensation levels.

Form 990, Part VI, Section C, Line 19

The governing documents, conflict of interest policy and financial statements are made available upon request.

Filing and Contact Details

Filer

EIN
34-0922936
Phone
3303752020

Signing Officer

Name
Sandra Evans
Title
Chief Executive Officer
Phone
3303752020
Signed
2014-05-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sandra Evans
Formed
1940
Legal Domicile
Oh
Voting Board Members
9
Independent Board Members
9
Employees
5
Volunteers
12

Preparer

Preparer
Melissa Schmidt
Phone
6145291640
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IRS990/Form990PartVIISectionAGrp/PersonNm1Joseph Toth
IRS990/Form990PartVIISectionAGrp/PersonNm2Michelle DiFiore
IRS990/Form990PartVIISectionAGrp/PersonNm3Dan Dyer
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IRS990/Form990PartVIISectionAGrp/PersonNm7Eugene Hertzig
IRS990/Form990PartVIISectionAGrp/PersonNm8Anthony White
IRS990/Form990PartVIISectionAGrp/PersonNm9Sandra Evans
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IRS990/Form990PartVIISectionAGrp/TitleTxt0President of Board
IRS990/Form990PartVIISectionAGrp/TitleTxt1Vice President of the Board
IRS990/Form990PartVIISectionAGrp/TitleTxt2Secretary of Board
IRS990/Form990PartVIISectionAGrp/TitleTxt3Treasurer of Board
IRS990/Form990PartVIISectionAGrp/TitleTxt4Director
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IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
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IRS990/InsuranceGrp/FundraisingAmt00
IRS990/InsuranceGrp/ManagementAndGeneralAmt03905
IRS990/InsuranceGrp/ProgramServicesAmt07258
IRS990/InsuranceGrp/TotalAmt011163
IRS990/IntangibleAssetsGrp/BOYAmt00
IRS990/IntangibleAssetsGrp/EOYAmt00
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IRS990/InventoriesForSaleOrUseGrp/BOYAmt00
IRS990/InventoriesForSaleOrUseGrp/EOYAmt00
IRS990/InvestmentExpenseAmt00
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IRS990/InvestmentIncomeGrp/UnrelatedBusinessRevenueAmt00
IRS990/InvestmentInJointVentureInd00
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IRS990/InvestmentsProgramRelatedGrp/BOYAmt02236542
IRS990/InvestmentsProgramRelatedGrp/EOYAmt02138541
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IRS990/LandBldgEquipBasisNetGrp/EOYAmt020101
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IRS990/LoansFromOfficersDirectorsGrp/BOYAmt00
IRS990/LoansFromOfficersDirectorsGrp/EOYAmt00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd01
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0Akron Municipal Employees Credit Union, Inc. is a co-op whose basic objectives are to teach and encourage thrift among members and through their combined savings extend to members low cost loans for any worthwhile purpose.
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IRS990/MoreThan5000KToOrgInd00
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IRS990/NetAssetsOrFundBalancesEOYAmt0568127
IRS990/NetUnrelatedBusTxblIncmAmt00
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IRS990/OccupancyGrp/ManagementAndGeneralAmt00
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IRS990/Organization501cInd0X
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IRS990/OtherAssetsTotalGrp/BOYAmt050699
IRS990/OtherAssetsTotalGrp/EOYAmt052361
IRS990/OtherChangesInNetAssetsAmt00
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IRS990/OtherExpensesGrp/ProgramServicesAmt020717
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IRS990/OtherExpensesGrp/TotalAmt1139
IRS990/OtherExpensesGrp/TotalAmt22780
IRS990/OtherLiabilitiesGrp/BOYAmt04359695
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IRS990/OthNotesLoansReceivableNetGrp/BOYAmt01946355
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IRS990/PartialLiquidationInd00
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IRS990/PaymentsToAffiliatesGrp/TotalAmt00
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt05036
IRS990/PrincipalOfficerNm0Sandra Evans
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IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
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IRS990/PYOtherRevenueAmt00
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IRS990/PYTotalProfFndrsngExpnsAmt00
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IRS990/RcvblFromDisqualifiedPrsnGrp/BOYAmt00
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-2386
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
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IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd01

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