Civic Intelligence

First Choice Community Credit Union Inc

990 • Fiscal year 2019 • EIN 34-6611264

Jan 01, 2019 to Dec 31, 2019 • Filed on Mar 04, 2020

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

25th percentile

0.80x

Higher debt load relative to assets than 25% of similar nonprofits.

2019 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2019

Liabilities / Revenue

73rd percentile

21.21x

Higher debt load relative to revenue than 73% of similar nonprofits.

2019 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2019

Net Margin

30th percentile

5.4%

Higher net margin than 30% of similar nonprofits.

2019 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2019

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.

2019 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2019

Asset Growth

12th percentile

-4.6%

Faster asset growth than 12% of similar nonprofits.

2019 filings • 501(c)14 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Revenue Growth

1st percentile

-17%

Faster revenue growth than 1% of similar nonprofits.

2019 filings • 501(c)14 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets25th percentile

Assets

Down

$18,483,252

Down $896,256 (-4.6%) from 2018

Net Assets

Up

$3,742,234

Up $392,321 (+12%) from 2018

Liabilities

Down

$14,741,018

Down $1,288,577 (-8.0%) from 2018

Revenue And Expenses
Liabilities / Revenue73rd percentileNet Margin30th percentile

Revenue

Down

$694,996

Down $146,899 (-17%) from 2018

Expenses

Down

$657,337

Down $126,393 (-16%) from 2018

Net Income

Down

$37,659

Down $20,506 (-35%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth12th 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

2019

Assets$18,483,252
Liabilities$14,741,018
Net Assets$3,742,234
Open 2019 Filing

Operations Trend

Revenue Growth1st 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

2019

Revenue$694,996
Expenses$657,337
Net Income$37,659
Open 2019 Filing
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.

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IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd1C
IRS990ScheduleD/LandGrp/BookValueAmt016000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt016000
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt059415
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt059415
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt04253470
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1-55590
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0LOANS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1ALLOWANCE FOR LOAN LOSS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt014716867
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0FEDERAL INCOME TAXES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1MEMBER SHARES AND SAVINGS ACCTS
IRS990ScheduleD/TotalBookValueLandBuildingsAmt055270
IRS990ScheduleD/TotalBookValueOtherAssetsAmt04197880
IRS990ScheduleD/TotalBookValueProgramRltdAmt012925524
IRS990ScheduleD/TotalLiabilityAmt014716867
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
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IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt019379508
IRS990/TotalAssetsEOYAmt018483252
IRS990/TotalAssetsGrp/BOYAmt019379508
IRS990/TotalAssetsGrp/EOYAmt018483252
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt07
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0657337
IRS990/TotalFunctionalExpensesGrp/TotalAmt0657337
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt016029595
IRS990/TotalLiabilitiesEOYAmt014741018
IRS990/TotalLiabilitiesGrp/BOYAmt016029595
IRS990/TotalLiabilitiesGrp/EOYAmt014741018
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt03349913
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03742234
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0657337
IRS990/TotalProgramServiceRevenueAmt0287020
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0694996
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0694996
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt019379508
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt018483252
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
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IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0300000
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0www.fcccu.com
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02021-04-22 16:20:28Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
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
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/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

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$18,483,252
Liabilities
$14,741,018
Net assets
$3,742,234
Revenue
$694,996
Expenses
$657,337
Net income
$37,659
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
2019Detailed filing. Detailed filing data is available for this year.$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