Civic Intelligence

First Choice Community Credit Union Inc

990 • Fiscal year 2015 • EIN 34-6611264

Jan 01, 2015 to Dec 31, 2015 • Filed on May 14, 2016

Organization Profilewww.fcccu.com

View Organization Page

804 Warren AvenueNiles, OH 44446

(330) 652-3887

Siviq Scores

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

Liabilities / Assets

40th percentile

0.87x

Higher debt load relative to assets than 40% of similar nonprofits.

2015 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2015

Liabilities / Revenue

68th percentile

23.23x

Higher debt load relative to revenue than 68% of similar nonprofits.

2015 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2015

Net Margin

83rd percentile

16%

Higher net margin than 83% of similar nonprofits.

2015 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2015

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.

2015 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2015

Asset Growth

53rd percentile

3.3%

Faster asset growth than 53% of similar nonprofits.

2015 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2014 to 2015

Revenue Growth

31st percentile

-1.2%

Faster revenue growth than 31% of similar nonprofits.

2015 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets40th percentile

Assets

Up

$26,697,108

Up $847,816 (+3.3%) from 2014

Net Assets

Up

$3,504,538

Up $379,620 (+12%) from 2014

Liabilities

Up

$23,192,570

Up $468,196 (+2.1%) from 2014

Revenue And Expenses
Liabilities / Revenue68th percentileNet Margin83rd percentile

Revenue

Down

$998,210

Down $12,091 (-1.2%) from 2014

Expenses

Up

$833,894

Up $11,325 (+1.4%) from 2014

Net Income

Down

$164,316

Down $23,416 (-12%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth53rd percentile

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

$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 2015: $26,697,108Liabilities 2015: $23,192,570Net Assets 2015: $3,504,5382015Assets 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

2015

Assets$26,697,108
Liabilities$23,192,570
Net Assets$3,504,538
Open 2015 Filing

Operations Trend

Revenue Growth31st percentile

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

$1.5M$1.0M$500K$0-$500KExpenses 2010: $1,029,9692010Revenue 2014: $1,010,301Expenses 2014: $822,569Net Income 2014: $187,7322014Revenue 2015: $998,210Expenses 2015: $833,894Net Income 2015: $164,3162015Revenue 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

2015

Revenue$998,210
Expenses$833,894
Net Income$164,316
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
May 14, 2016
Return Version
2015v2.1
Gross Receipts
$998,210
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$15,266,643$15,944,426▲ $677,783
Rtn Earn Endowment Incm Other Fnds$3,124,918$3,504,538▲ $379,620
Cash and Non-Interest-Bearing Accounts$201,355$178,799▼ $22,556
Land, Buildings, and Equipment, Net$69,782$64,859▼ $4,923
Prepaid Expenses and Deferred Charges$41,216$18,173▼ $23,043
Accounts Receivable$2,715$11,773▲ $9,058
Total Assets$25,849,292$26,697,108▲ $847,816
Other Assets Total$10,267,581$10,479,078▲ $211,497
Liabilities
Other Liabilities$22,700,200$23,155,332▲ $455,132
Accounts Payable and Accrued Expenses$24,174$37,238▲ $13,064
Total Liabilities$22,724,374$23,192,570▲ $468,196
Net Assets / Fund Balance
Total Net Assets Fund Balance$3,124,918$3,504,538▲ $379,620
Total Liabilities and Net Assets / Fund Balance$25,849,292$26,697,108▲ $847,816

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$28,525$334,989$363,514
Buildings$21,028$85,488$106,516
Leasehold Improvements$-694$60,109$59,415
Land$16,000-$16,000
Investment Program Related Org$12,208--
Other Assets Org$10,479,078--
Compensation and Service Providers
Top Officer Pay11th percentile

Board Members and Trustees

NameTitle
Matthew BlairPresident
Kathleen BowenVice President
Ian BowdenBoard Member
J Daniel SgambatiBoard Member
John RaganBoard Member
Holly MangDirector
James LingoSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$549,329
Investment Income
$294,218
Other Revenue
$154,663
Change in Net Assets
$164,316
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$521,403
Salaries, Compensation, and Employee Benefits$222,436
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$166,385--$166,385
Current Officers, Directors, Trustees, and Key Employees$152,047--$152,047
Benefits to Members$90,055--$90,055
Office Expenses$52,426--$52,426
Other Employee Benefits$42,640--$42,640
Advertising$32,485--$32,485
Occupancy$25,643--$25,643
Information Technology$24,090--$24,090
Other Expenses$23,198--$23,198
Payroll Taxes$20,264--$20,264
Fees for Services Legal$12,678--$12,678
Pension Plan Contributions$7,485--$7,485
Depreciation Depletion$7,040--$7,040
Fees for Services Management$4,106--$4,106
Payments to Affiliates$1,330--$1,330
Total Functional Expenses$833,894$0$0$833,894
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$23,155,332
Member Shares and Savings Accts-
Workers Comp and State Income Taxes-
Payable-
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 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

“Enforecment of conflicts policy: purchaases 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
J Daniel Sgambati
Title
CEO
Signed
2016-05-14
Discuss with paid preparer
No

Organization Details

Formed
1968
Legal Domicile
Oh
Voting Board Members
7
Independent Board Members
7
Employees
10

Preparer

Firm
Grace Financial Services
Address
7047 E Market Street, Warren, OH 44484
Preparer
J Daniel Sgambati
Phone
3303692880
Raw XML Appendix392 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.

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IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt6100000
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt712208
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0CERTIFICATES AND OTHER DEPOSITS
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc1FHLB
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc2FNMA BOND
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc3MONEY MARKET
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc4SL DEPOSITS
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc5OTHER CU DEPOSITS-CDS
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc6CORPORATE ONE ESCROW
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc7CUSO INVESTMENT
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0F
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IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd4F
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd5F
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd6F
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd7F
IRS990ScheduleD/LandGrp/BookValueAmt016000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt016000
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0-694
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt060109
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt059415
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt010479078
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0SEE ATTACHED STATEMENT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt023155332
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0FEDERAL INCOME TAXES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1MEMBER SHARES AND SAVINGS ACCTS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2WORKERS COMP AND STATE INCOME TAXES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3PAYABLE
IRS990ScheduleD/TotalBookValueLandBuildingsAmt064859
IRS990ScheduleD/TotalBookValueOtherAssetsAmt010479078
IRS990ScheduleD/TotalBookValueProgramRltdAmt015944426
IRS990ScheduleD/TotalLiabilityAmt023155332
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0CLASSES OF MEMBERS OR STOCKHOLDERS. THE CREDIT UNION HAS MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ORGANIZATIONS PROCESS TO REVIEW FORM 990. THE FORM 990 WAS PREPARED BY THE CEO AND PRESENTED AT A BOARD MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ENFORECMENT OF CONFLICTS POLICY: PURCHAASES 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/FormAndLineReferenceDesc0Members or stockholder classes and rights Part VI line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990 governing body review Part VI line 11
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
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IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt025849292
IRS990/TotalAssetsEOYAmt026697108
IRS990/TotalAssetsGrp/BOYAmt025849292
IRS990/TotalAssetsGrp/EOYAmt026697108
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt010
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0833894
IRS990/TotalFunctionalExpensesGrp/TotalAmt0833894
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt022724374
IRS990/TotalLiabilitiesEOYAmt023192570
IRS990/TotalLiabilitiesGrp/BOYAmt022724374
IRS990/TotalLiabilitiesGrp/EOYAmt023192570
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt03124918
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03504538
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0833894
IRS990/TotalProgramServiceRevenueAmt0549329
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0998210
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0998210
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt025849292
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt026697108
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0www.fcccu.com
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-09-27 15:27:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0false
ReturnHeader/BusinessOfficerGrp/PersonNm0J DANIEL SGAMBATI
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-05-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0First Choice Community CU
ReturnHeader/Filer/BusinessNameControlTxt0FIRS
ReturnHeader/Filer/EIN0346611264
ReturnHeader/Filer/USAddress/AddressLine1Txt0804 Warren Avenue
ReturnHeader/Filer/USAddress/CityNm0Niles
ReturnHeader/Filer/USAddress/StateAbbreviationCd0OH
ReturnHeader/Filer/USAddress/ZIPCd044446
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/PreparationDt02016-08-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0J Daniel Sgambati
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02016-08-15T15:07:29-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-01-01
ReturnHeader/TaxPeriodEndDt02015-12-31
ReturnHeader/TaxYr02015

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$26,697,108
Liabilities
$23,192,570
Net assets
$3,504,538
Revenue
$998,210
Expenses
$833,894
Net income
$164,316
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
2015Detailed filing. Detailed filing data is available for this year.$26.7$23.2$3.50$1.00$0.83$0.16
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