Civic Intelligence

First Choice Community Credit Union Inc

990 • Fiscal year 2018 • EIN 34-6611264

Jan 01, 2018 to Dec 31, 2018 • Filed on Mar 15, 2019

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

32nd percentile

0.83x

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

2018 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2018

Liabilities / Revenue

54th percentile

19.04x

Higher debt load relative to revenue than 54% of similar nonprofits.

2018 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2018

Net Margin

36th percentile

6.9%

Higher net margin than 36% of similar nonprofits.

2018 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2018

Top Officer Pay

9th percentile

$0

Higher top officer pay than 9% of similar nonprofits.

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

2018 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2018

Asset Growth

1st percentile

-25%

Faster asset growth than 1% of similar nonprofits.

2018 filings • 501(c)14 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Revenue Growth

4th percentile

-4.0%

Faster revenue growth than 4% of similar nonprofits.

2018 filings • 501(c)14 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets32nd percentile

Assets

Down

$19,379,508

Down $6,610,371 (-25%) from 2017

Net Assets

Down

$3,349,913

Down $245,221 (-6.8%) from 2017

Liabilities

Down

$16,029,595

Down $6,365,150 (-28%) from 2017

Revenue And Expenses
Liabilities / Revenue54th percentileNet Margin36th percentile

Revenue

Down

$841,895

Down $35,284 (-4.0%) from 2017

Expenses

Down

$783,730

Down $16,122 (-2.0%) from 2017

Net Income

Down

$58,165

Down $19,162 (-25%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth1st 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

2018

Assets$19,379,508
Liabilities$16,029,595
Net Assets$3,349,913
Open 2018 Filing

Operations Trend

Revenue Growth4th 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

2018

Revenue$841,895
Expenses$783,730
Net Income$58,165
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Mar 15, 2019
Return Version
2018v3.1
Gross Receipts
$841,895
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$19,858,060$13,465,680▼ $6,392,380
Rtn Earn Endowment Incm Other Fnds$3,595,134$3,349,913▼ $245,221
Cash and Non-Interest-Bearing Accounts$445,703$966,335▲ $520,632
Accounts Receivable$131,981$125,054▼ $6,927
Prepaid Expenses and Deferred Charges$21,237$48,828▲ $27,591
Land, Buildings, and Equipment, Net$60,126$46,339▼ $13,787
Total Assets$25,989,879$19,379,508▼ $6,610,371
Other Assets Total$5,472,772$4,727,272▼ $745,500
Liabilities
Other Liabilities$22,351,796$15,701,633▼ $6,650,163
Unsecured Notes Loans Payable-$300,000-
Accounts Payable and Accrued Expenses$42,949$27,962▼ $14,987
Total Liabilities$22,394,745$16,029,595▼ $6,365,150
Net Assets / Fund Balance
Total Net Assets Fund Balance$3,595,134$3,349,913▼ $245,221
Total Liabilities and Net Assets / Fund Balance$25,989,879$19,379,508▼ $6,610,371

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$10,581$370,792$381,373
Buildings$13,039$93,477$106,516
Leasehold Improvements-$59,415$59,415
Land$16,000-$16,000
Other Land Buildings$6,719-$6,719
Investment Program Related Org$157,950--
Other Assets Org$-66,201--
Compensation and Service Providers
Top Officer Pay9th percentile

Board Members and Trustees

NameTitle
J Daniel SgambatiBoard President & CEO
Kathleen BowenVice President
Carol a SopkovichBoard Member
Georgianne PadavoniBoard Member
Ian BowdenBoard Member
Mark MchaleBoard Member
Murray T WeddellBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$349,055
Investment Income
$323,190
Other Revenue
$169,650
Change in Net Assets
$58,165
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$341,423
Other Expenses$316,485
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$245,250--$245,250
Benefits to Members$125,822--$125,822
Fees for Services Management$93,315--$93,315
Other Employee Benefits$77,738--$77,738
Other Expenses$42,000--$42,000
Office Expenses$35,683--$35,683
Occupancy$30,558--$30,558
Information Technology$27,093--$27,093
Fees for Services Legal$18,780--$18,780
Payroll Taxes$18,435--$18,435
Fees for Services Accounting$16,505--$16,505
Depreciation Depletion$14,041--$14,041
Fees for Service Investment Mgmnt Fees$13,160--$13,160
Advertising$5,189--$5,189
Conferences and Meetings$319--$319
Total Functional Expenses$783,730$0$0$783,730
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$15,701,633
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 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 D Sgambati
Title
CEO
Phone
3306523887
Signed
2019-03-15
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
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 Appendix391 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/BookValueAmt013307730
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt1157950
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0CERTIFICATES AND OTHER DEPOSITS
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc1LIFE INSURANCE
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd1C
IRS990ScheduleD/LandGrp/BookValueAmt016000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt016000
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt059415
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt059415
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt04793473
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1-66201
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0LOANS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1ALLOWANCE FOR LOAN LOSS
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt06719
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt06719
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt015701633
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0FEDERAL INCOME TAXES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1MEMBER SHARES AND SAVINGS ACCTS
IRS990ScheduleD/TotalBookValueLandBuildingsAmt046339
IRS990ScheduleD/TotalBookValueOtherAssetsAmt04727272
IRS990ScheduleD/TotalBookValueProgramRltdAmt013465680
IRS990ScheduleD/TotalLiabilityAmt015701633
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/ExplanationTxt6Gain or loss on CD investments held for sale
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Explanation of other changes in net assets or fund balances Part XI line 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0OH
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt025989879
IRS990/TotalAssetsEOYAmt019379508
IRS990/TotalAssetsGrp/BOYAmt025989879
IRS990/TotalAssetsGrp/EOYAmt019379508
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt08
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0783730
IRS990/TotalFunctionalExpensesGrp/TotalAmt0783730
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt022394745
IRS990/TotalLiabilitiesEOYAmt016029595
IRS990/TotalLiabilitiesGrp/BOYAmt022394745
IRS990/TotalLiabilitiesGrp/EOYAmt016029595
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt03595134
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03349913
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0783730
IRS990/TotalProgramServiceRevenueAmt0349055
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0841895
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0841895
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt025989879
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt019379508
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0300000
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0www.fcccu.com
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0J D Sgambati
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum03306523887
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-03-15
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/FederalOriginalSubmissionId03435902019159cveislw
ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionIdDt02019-06-08
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0174.96.48.73
ReturnHeader/FilingSecurityInformation/IPDt02019-06-08
ReturnHeader/FilingSecurityInformation/IPTm012:54:34
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/PreparationDt02019-06-08
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0J Daniel Sgambati
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02019-06-08T12:20:01-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-01-01
ReturnHeader/TaxPeriodEndDt02018-12-31
ReturnHeader/TaxYr02018

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$19,379,508
Liabilities
$16,029,595
Net assets
$3,349,913
Revenue
$841,895
Expenses
$783,730
Net income
$58,165
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
2018Detailed filing. Detailed filing data is available for this year.$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
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2018 filings • 501(c)14 • $10M-$25M nonprofits