Civic Intelligence

First Choice Community Credit Union Inc

EIN 34-6611264 • 501(c)14 • Niles, OH

View Organization Page

Profile

A financial cooperative / credit union organized to provide its members with low interest loans, and to promote savings among those members.

804 Warren AvenueNiles, OH 44446

www.fcccu.com

Siviq Scores

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

Liabilities / Assets

36th percentile

0.83x

Higher debt load relative to assets than 36% of similar nonprofits.

501(c)14 • $10M-$25M nonprofits • Source year 2020

Liabilities / Revenue

97th percentile

35.17x

Higher debt load relative to revenue than 97% of similar nonprofits.

501(c)14 • $10M-$25M nonprofits • Source year 2020

Net Margin

6th percentile

-37%

Higher net margin than 6% of similar nonprofits.

501(c)14 • $10M-$25M nonprofits • Source year 2020

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 2020

Asset Growth

90th percentile

8.7%

Faster asset growth than 90% of similar nonprofits.

501(c)14 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Revenue Growth

4th percentile

-32%

Faster revenue growth than 4% of similar nonprofits.

501(c)14 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets36th percentile

Assets

Up

$20,090,184

Up $1,606,932 (+8.7%) from 2019

Liabilities

Up

$16,639,606

Up $1,898,588 (+13%) from 2019

Net Assets

Down

$3,450,578

Down $291,656 (-7.8%) from 2019

Operations
Liabilities / Revenue97th percentileNet Margin6th percentile

Revenue

Down

$473,159

Down $221,837 (-32%) from 2019

Expenses

Down

$648,394

Down $8,943 (-1.4%) from 2019

Net Income

Down

-$175,235

Down $212,894 (-565%) from 2019

Trend Graphs

Balance Sheet Trend

Asset Growth90th percentile

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

$30M$20M$10M$0Assets 2010: $21,032,025Liabilities 2010: $18,623,258Net Assets 2010: $2,408,7672010Assets 2014: $25,849,292Liabilities 2014: $22,724,374Net Assets 2014: $3,124,9182014Assets 2016: $26,924,906Liabilities 2016: $23,407,099Net Assets 2016: $3,517,8072016Assets 2017: $25,989,879Liabilities 2017: $22,394,745Net Assets 2017: $3,595,1342017Assets 2018: $19,379,508Liabilities 2018: $16,029,595Net Assets 2018: $3,349,9132018Assets 2019: $18,483,252Liabilities 2019: $14,741,018Net Assets 2019: $3,742,2342019Assets 2020: $20,090,184Liabilities 2020: $16,639,606Net Assets 2020: $3,450,5782020

Highlighted filing

2020

Assets$20,090,184
Liabilities$16,639,606
Net Assets$3,450,578
Open 2020 Filing

Operations Trend

Revenue Growth4th percentile

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

$1.5M$1.0M$500K$0-$500KExpenses 2010: $1,029,9692010Revenue 2014: $1,010,301Expenses 2014: $822,569Net Income 2014: $187,7322014Revenue 2016: $982,752Expenses 2016: $972,421Net Income 2016: $10,3312016Revenue 2017: $877,179Expenses 2017: $799,852Net Income 2017: $77,3272017Revenue 2018: $841,895Expenses 2018: $783,730Net Income 2018: $58,1652018Revenue 2019: $694,996Expenses 2019: $657,337Net Income 2019: $37,6592019Revenue 2020: $473,159Expenses 2020: $648,394Net Income 2020: -$175,2352020

Highlighted filing

2020

Revenue$473,159
Expenses$648,394
Net Income-$175,235
Open 2020 Filing

Filings

Most recent year

2020 • Form 990XML pending. An XML filing is linked for this year, but detailed extraction is still pending.

Open filing
Assets
$20,090,184
Liabilities
$16,639,606
Net assets
$3,450,578
Revenue
$473,159
Expenses
$648,394
Net income
-$175,235
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$20.1$16.6$3.45$0.47$0.65$0.18
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$18.5$14.7$3.74$0.69$0.66$0.04
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$19.4$16.0$3.35$0.84$0.78$0.06
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$26.0$22.4$3.60$0.88$0.80$0.08
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$26.9$23.4$3.52$0.98$0.97$0.01
2014Detailed filing. Detailed filing data is available for this year.$25.8$22.7$3.12$1.01$0.82$0.19
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$21.0$18.6$2.41$1.03
Latest Detailed Filing

The latest 2020 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2019 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Mar 4, 2020
Return Version
2019v5.1
Gross Receipts
$694,996
Mission and Program Overview

Mission

A financial cooperative / credit union organized to provide its members with low interest loans, and to promote savings among those members.

A financial cooperative/credit union organized to provide its members with low interest loans, and to promote savings among those members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Program Related$13,465,680$12,925,524▼ $540,156
Rtn Earn Endowment Incm Other Fnds$3,349,913$3,742,234▲ $392,321
Cash and Non-Interest-Bearing Accounts$966,335$1,134,078▲ $167,743
Accounts Receivable$125,054$125,918▲ $864
Land, Buildings, and Equipment, Net$46,339$55,270▲ $8,931
Prepaid Expenses and Deferred Charges$48,828$44,582▼ $4,246
Total Assets$19,379,508$18,483,252▼ $896,256
Other Assets Total$4,727,272$4,197,880▼ $529,392
Liabilities
Other Liabilities$15,701,633$14,716,867▼ $984,766
Unsecured Notes Loans Payable$300,000--
Accounts Payable and Accrued Expenses$27,962$24,151▼ $3,811
Total Liabilities$16,029,595$14,741,018▼ $1,288,577
Net Assets / Fund Balance
Total Net Assets Fund Balance$3,349,913$3,742,234▲ $392,321
Total Liabilities and Net Assets / Fund Balance$19,379,508$18,483,252▼ $896,256

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$28,894$379,543$408,437
Buildings$10,376$96,140$106,516
Leasehold Improvements-$59,415$59,415
Land$16,000-$16,000
Investment Program Related Org$167,056--
Other Assets Org$-55,590--
Compensation and Service Providers
Top Officer Pay11th percentile

Board Members and Trustees

NameTitle
J Daniel SgambatiBoard President & CEO
Kathleen BowenVice President
Carol a SopkovichBoard Member
Deborah SgambatiBoard Member
Devon StanleyBoard Member
Georgianne PadavoniBoard Member
Deanna KovacsManager-procedures
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$287,020
Investment Income
$281,022
Other Revenue
$126,954
Change in Net Assets
$37,659
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$337,695
Other Expenses$257,430
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$255,341--$255,341
Fees for Services Management$100,974--$100,974
Other Employee Benefits$63,141--$63,141
Benefits to Members$62,212--$62,212
Information Technology$34,450--$34,450
Occupancy$28,308--$28,308
Office Expenses$28,078--$28,078
Payroll Taxes$19,213--$19,213
Fees for Services Accounting$15,286--$15,286
Depreciation Depletion$11,415--$11,415
Other Expenses$10,493--$10,493
Fees for Services Legal$7,225--$7,225
Advertising$4,838--$4,838
Conferences and Meetings$1,207--$1,207
Fees for Service Investment Mgmnt Fees$1,106--$1,106
Total Functional Expenses$657,337$0$0$657,337
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
Federal Income Taxes$14,716,867
Member Shares and Savings Accts-
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

Members or stockholder classes and rights Part VI line 6

“Classes of members or stockholders. The credit union has members.”

Form 990 governing body review Part VI line 11

“Organizations process to review form 990. The form 990 was prepared by the ceo and presented at a board meeting.”

Conflict of interest policy compliance Part VI line 12C

“Enforcement of conflicts policy: purchases are reviewed by the board and then approved.”

CEO executive director top management comp Part VI line 15A

“Compensation process for top official: the board appoints a salary review committee annually to review employee performance and compensation. The committee then prepares a report for presentation to the board for review and approval.”

Other officer or key employee compensation Part VI line 15B

“Compensation process for officers: see explanation for line 15a above.”

Governing documents etc available to public Part VI line 19

“Governing documents explanation: documents are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
First Choice Community CU
EIN
34-6611264
Address
804 Warren Avenue, Niles, OH 44446

Signing Officer

Name
Deanna Kovacs
Title
CEO
Phone
3306523887
Signed
2020-03-04
Discuss with paid preparer
Yes

Organization Details

Formed
1968
Legal Domicile
Oh
Voting Board Members
7
Independent Board Members
7
Employees
7

Preparer

Firm
Grace Financial Services
Address
7047 E Market Street, Warren, OH 44484
Preparer
J Daniel Sgambati
Phone
3303692880
Supplemental Narrative

Additional Explanations

Explanation of other changes in net assets or fund balances Part XI line 9

“Gain or loss on CD investments held for sale”

Raw XML Appendix378 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/AcctCompileOrReviewBasisGrp/ConsolAndSepBasisFinclStmtInd0X
IRS990/ActivitiesConductedPrtshpInd0false
IRS990/ActivityOrMissionDesc0A FINANCIAL COOPERATIVE/CREDIT UNION ORGANIZED TO PROVIDE ITS MEMBERS WITH LOW INTEREST LOANS, AND TO PROMOTE SAVINGS AMONG THOSE MEMBERS.
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IRS990/BooksInCareOfDetail/PhoneNum03306523887
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IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0OH
IRS990/BooksInCareOfDetail/USAddress/ZIPCd044484
IRS990/BusinessRlnWith35CtrlEntInd0false
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IRS990/CashNonInterestBearingGrp/BOYAmt0966335
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IRS990/ChangeToOrgDocumentsInd0false
IRS990/CollectionsOfArtInd0false
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IRS990/CompensationFromOtherSrcsInd0false
IRS990/CompensationProcessCEOInd0true
IRS990/CompensationProcessOtherInd0true
IRS990/ConferencesMeetingsGrp/ProgramServicesAmt01207
IRS990/ConferencesMeetingsGrp/TotalAmt01207
IRS990/ConflictOfInterestPolicyInd0true
IRS990/ConservationEasementsInd0false
IRS990/ConsolidatedAuditFinclStmtInd0false
IRS990/CreditCounselingInd0false
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IRS990/EmploymentTaxReturnsFiledInd0true
IRS990/ExpenseAmt0657337
IRS990/FamilyOrBusinessRlnInd0false
IRS990/FederalGrantAuditRequiredInd0false
IRS990/FeesForServicesAccountingGrp/ProgramServicesAmt015286
IRS990/FeesForServicesAccountingGrp/TotalAmt015286
IRS990/FeesForServicesLegalGrp/ProgramServicesAmt07225
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IRS990/ForeignActivitiesInd0false
IRS990/ForeignFinancialAccountInd0false
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IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt640.00
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
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IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd5X
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IRS990/Form990PartVIISectionAGrp/KeyEmployeeInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
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IRS990/Form990PartVIISectionAGrp/PersonNm5CAROL A SOPKOVICH
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IRS990/Form990PartVIISectionAGrp/TitleTxt0BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2BOARD PRESIDENT & CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt3BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt4BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt5BOARD MEMBER
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IRS990/FSAuditedInd0true
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IRS990/IRPDocumentCnt01
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IRS990/MethodOfAccountingAccrualInd0X
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IRS990/OtherRevenueMiscGrp/Desc2ACCOUNT FEES
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ENFORCEMENT OF CONFLICTS POLICY: PURCHASES ARE REVIEWED BY THE BOARD AND THEN APPROVED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COMPENSATION PROCESS FOR TOP OFFICIAL: THE BOARD APPOINTS A SALARY REVIEW COMMITTEE ANNUALLY TO REVIEW EMPLOYEE PERFORMANCE AND COMPENSATION. THE COMMITTEE THEN PREPARES A REPORT FOR PRESENTATION TO THE BOARD FOR REVIEW AND APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4COMPENSATION PROCESS FOR OFFICERS: SEE EXPLANATION FOR LINE 15A ABOVE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5GOVERNING DOCUMENTS EXPLANATION: DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Gain or loss on CD investments held for sale
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Other officer or key employee compensation Part VI line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Explanation of other changes in net assets or fund balances Part XI line 9
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ReturnHeader/BuildTS02021-04-22 16:20:28Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0Deanna Kovacs
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum03306523887
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-03-04
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0First Choice Community CU
ReturnHeader/Filer/BusinessNameControlTxt0FIRS
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ReturnHeader/Filer/USAddress/AddressLine1Txt0804 Warren Avenue
ReturnHeader/Filer/USAddress/CityNm0Niles
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ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionId03435902020115egopikq
ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionIdDt02020-04-24
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0184.56.3.38
ReturnHeader/FilingSecurityInformation/IPDt02020-04-24
ReturnHeader/FilingSecurityInformation/IPTm011:00:38
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0203296690
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Grace Financial Services
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt07047 E Market Street
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Warren
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0OH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd044484
ReturnHeader/PreparerPersonGrp/PhoneNum03303692880
ReturnHeader/PreparerPersonGrp/PreparationDt02020-04-23
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0J Daniel Sgambati
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02020-04-23T12:40:14-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

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