Civic Intelligence

First Choice Community Credit Union Inc

990 • Fiscal year 2016 • EIN 34-6611264

Jan 01, 2016 to Dec 31, 2016 • Filed on Jun 30, 2017

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.

2016 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2016

Liabilities / Revenue

71st percentile

23.82x

Higher debt load relative to revenue than 71% of similar nonprofits.

2016 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2016

Net Margin

19th percentile

1.1%

Higher net margin than 19% of similar nonprofits.

2016 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2016

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2016

Asset Growth

41st percentile

2.1%

Faster asset growth than 41% of similar nonprofits.

2016 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2014 to 2016

Revenue Growth

17th percentile

-1.4%

Faster revenue growth than 17% of similar nonprofits.

2016 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2014 to 2016

Balance Sheet
Liabilities / Assets40th percentile

Assets

Up

$26,924,906

Up $1,075,614 (+4.2%) from 2014

Net Assets

Up

$3,517,807

Up $392,889 (+13%) from 2014

Liabilities

Up

$23,407,099

Up $682,725 (+3.0%) from 2014

Revenue And Expenses
Liabilities / Revenue71st percentileNet Margin19th percentile

Revenue

Down

$982,752

Down $27,549 (-2.7%) from 2014

Expenses

Up

$972,421

Up $149,852 (+18%) from 2014

Net Income

Down

$10,331

Down $177,401 (-94%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth41st 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 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

2016

Assets$26,924,906
Liabilities$23,407,099
Net Assets$3,517,807
Open 2016 Filing

Operations Trend

Revenue Growth17th 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 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

2016

Revenue$982,752
Expenses$972,421
Net Income$10,331
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Jun 30, 2017
Return Version
2016v3.0
Gross Receipts
$982,752
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$15,944,426$19,078,553▲ $3,134,127
Rtn Earn Endowment Incm Other Fnds$3,504,538$3,517,807▲ $13,269
Cash and Non-Interest-Bearing Accounts$178,799$241,617▲ $62,818
Land, Buildings, and Equipment, Net$64,859$65,296▲ $437
Prepaid Expenses and Deferred Charges$18,173$25,015▲ $6,842
Accounts Receivable$11,773$4,530▼ $7,243
Total Assets$26,697,108$26,924,906▲ $227,798
Other Assets Total$10,479,078$7,509,895▼ $2,969,183
Liabilities
Other Liabilities$23,155,332$23,364,449▲ $209,117
Accounts Payable and Accrued Expenses$37,238$42,650▲ $5,412
Total Liabilities$23,192,570$23,407,099▲ $214,529
Net Assets / Fund Balance
Total Net Assets Fund Balance$3,504,538$3,517,807▲ $13,269
Total Liabilities and Net Assets / Fund Balance$26,697,108$26,924,906▲ $227,798

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$25,936$349,532$375,468
Buildings$18,365$88,151$106,516
Leasehold Improvements-$59,415$59,415
Land$16,000-$16,000
Investment Program Related Org$14,048--
Other Land Buildings$4,995--
Other Assets Org$7,509,895--
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Matthew BlairPresident
Kathleen BowenVice President
Holly MangBoard Member
Ian BowdenBoard Member
J Daniel SgambatiBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$469,747
Investment Income
$310,855
Other Revenue
$202,150
Change in Net Assets
$10,331
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$632,570
Salaries, Compensation, and Employee Benefits$279,147
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$239,202--$239,202
Interest$173,904--$173,904
Other Expenses$148,398--$148,398
Benefits to Members$60,704--$60,704
Office Expenses$41,176--$41,176
Information Technology$40,081--$40,081
Payroll Taxes$21,749--$21,749
Occupancy$21,255--$21,255
Advertising$18,663--$18,663
Pension Plan Contributions$14,716--$14,716
Fees for Services Legal$12,584--$12,584
Depreciation Depletion$12,061--$12,061
Fees for Services Management$5,118--$5,118
Other Employee Benefits$3,480--$3,480
Total Functional Expenses$972,421$0$0$972,421
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$23,364,449
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

“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
J Daniel Sgambati
Title
CEO
Signed
2017-06-30
Discuss with paid preparer
Yes

Organization Details

Formed
1968
Legal Domicile
Oh
Voting Board Members
7
Independent Board Members
7
Employees
8

Preparer

Firm
Grace Financial Services
Address
7047 E Market Street, Warren, OH 44484
Preparer
J Daniel Sgambati
Phone
3303692880
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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/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt04995
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt023364449
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0FEDERAL INCOME TAXES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1MEMBER SHARES AND SAVINGS ACCTS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2WORKERS COMP AND STATE INCOME TAXES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3PAYABLE
IRS990ScheduleD/TotalBookValueLandBuildingsAmt065296
IRS990ScheduleD/TotalBookValueOtherAssetsAmt07509895
IRS990ScheduleD/TotalBookValueProgramRltdAmt019078553
IRS990ScheduleD/TotalLiabilityAmt023364449
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/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/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
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0OH
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt026697108
IRS990/TotalAssetsEOYAmt026924906
IRS990/TotalAssetsGrp/BOYAmt026697108
IRS990/TotalAssetsGrp/EOYAmt026924906
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt08
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0972421
IRS990/TotalFunctionalExpensesGrp/TotalAmt0972421
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt023192570
IRS990/TotalLiabilitiesEOYAmt023407099
IRS990/TotalLiabilitiesGrp/BOYAmt023192570
IRS990/TotalLiabilitiesGrp/EOYAmt023407099
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt03504538
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03517807
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0972421
IRS990/TotalProgramServiceRevenueAmt0469747
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0982752
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0982752
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt026697108
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt026924906
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0www.fcccu.com
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0J DANIEL SGAMBATI
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-06-30
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/FilingSecurityInformation/AtSubmissionCreationDeviceId01489F500136A29A14A31D266C760B96FB022F8A3
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId01489F500136A29A14A31D266C760B96FB022F8A3
ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionId03435902017194dsfdvu2
ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionIdDt02017-07-13
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0174.96.48.73
ReturnHeader/FilingSecurityInformation/IPDt02017-07-13
ReturnHeader/FilingSecurityInformation/IPTm009:09:08
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/PreparationDt02017-07-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0J Daniel Sgambati
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02017-07-13T09:08:28-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$26,924,906
Liabilities
$23,407,099
Net assets
$3,517,807
Revenue
$982,752
Expenses
$972,421
Net income
$10,331
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
2016Detailed filing. Detailed filing data is available for this year.$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
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2016 filings • 501(c)14 • $25M-$50M nonprofits