Civic Intelligence

Generations Credit Union

990 • Fiscal year 2013 • EIN 36-2334218

Jan 01, 2013 to Dec 31, 2013 • Filed on May 15, 2014

5618 Harrison Ave61108-8110

(815) 316-2900

Siviq Scores

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

Liabilities / Assets

23rd percentile

0.81x

Higher debt load relative to assets than 23% of similar nonprofits.

2013 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2013

Liabilities / Revenue

41st percentile

17.80x

Higher debt load relative to revenue than 41% of similar nonprofits.

2013 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2013

Net Margin

40th percentile

1.6%

Higher net margin than 40% of similar nonprofits.

2013 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2013

Top Officer Pay

62nd percentile

$75,442

Higher top officer pay than 62% of similar nonprofits.

Top officer pay equals 10.3% of source-year revenue.

2013 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2013

Asset Growth

32nd percentile

-0.7%

Faster asset growth than 32% of similar nonprofits.

2013 filings • 501(c)14 • $10M-$25M nonprofits • Annualized from 2012 to 2013

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2013

Assets

Down

$16,040,379

Down $115,324 (-0.7%) from 2012

Net Assets

Up

$2,969,657

Up $3,696 (+0.1%) from 2012

Liabilities

Down

$13,070,722

Down $119,020 (-0.9%) from 2012

Revenue

$734,388

No earlier filing loaded for comparison.

Expenses

Down

$722,686

Down $17,252 (-2.3%) from 2012

Net Income

$11,702

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0Assets 2010: $16,282,093Liabilities 2010: $13,368,074Net Assets 2010: $2,914,0192010Assets 2011: $15,577,584Liabilities 2011: $12,632,744Net Assets 2011: $2,944,8402011Assets 2012: $16,155,703Liabilities 2012: $13,189,742Net Assets 2012: $2,965,9612012Assets 2013: $16,040,379Liabilities 2013: $13,070,722Net Assets 2013: $2,969,6572013Assets 2014: $16,311,161Liabilities 2014: $13,330,395Net Assets 2014: $2,980,7662014Assets 2015: $17,992,128Liabilities 2015: $15,036,466Net Assets 2015: $2,955,6622015Assets 2016: $18,529,687Liabilities 2016: $15,736,701Net Assets 2016: $2,792,9862016Assets 2017: $18,325,974Liabilities 2017: $15,503,926Net Assets 2017: $2,822,0482017Assets 2018: $18,562,989Liabilities 2018: $15,723,328Net Assets 2018: $2,839,6612018Assets 2019: $18,490,100Liabilities 2019: $15,597,179Net Assets 2019: $2,892,9212019Assets 2021: $21,344,613Liabilities 2021: $18,170,303Net Assets 2021: $3,174,3102021Assets 2022: $21,406,121Liabilities 2022: $18,130,068Net Assets 2022: $3,276,0532022Assets 2024: $22,538,928Liabilities 2024: $19,125,517Net Assets 2024: $3,413,4112024

Highlighted filing

2013

Assets$16,040,379
Liabilities$13,070,722
Net Assets$2,969,657

Operations Trend

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

$1.5M$1.0M$500K$0-$500KExpenses 2010: $878,1572010Expenses 2011: $772,6302011Expenses 2012: $739,9382012Revenue 2013: $734,388Expenses 2013: $722,686Net Income 2013: $11,7022013Revenue 2014: $687,358Expenses 2014: $674,017Net Income 2014: $13,3412014Revenue 2015: $698,545Expenses 2015: $720,980Net Income 2015: -$22,4352015Revenue 2016: $749,596Expenses 2016: $910,775Net Income 2016: -$161,1792016Revenue 2017: $794,608Expenses 2017: $764,725Net Income 2017: $29,8832017Revenue 2018: $838,600Expenses 2018: $820,417Net Income 2018: $18,1832018Revenue 2019: $900,413Expenses 2019: $847,057Net Income 2019: $53,3562019Revenue 2021: $1,101,938Expenses 2021: $859,014Net Income 2021: $242,9242021Revenue 2022: $938,123Expenses 2022: $836,340Net Income 2022: $101,7832022Revenue 2024: $1,162,673Expenses 2024: $1,126,847Net Income 2024: $35,8262024

Highlighted filing

2013

Revenue$734,388
Expenses$722,686
Net Income$11,702
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
May 15, 2014
Return Version
2013v3.0
Gross Receipts
$734,388
Mission and Program Overview

Mission

To assist our members in the management of their financial well-being by providing quality low cost loans, a variety of savings accounts and other financial institution services in a friendly and professsional manner.

To assist our members in the management of their financial well-being by providing loans, savings accounts, and other financial institution services in a friendly and professional manner.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$9,969,835$9,190,939▼ $778,896
Investments Other Securities$3,878,000$4,279,000▲ $401,000
Rtn Earn Endowment Incm Other Fnds$2,965,961$2,969,657▲ $3,696
Land, Buildings, and Equipment, Net$1,074,492$1,045,567▼ $28,925
Savings and Temporary Cash Investments$467,270$921,468▲ $454,198
Cash and Non-Interest-Bearing Accounts$214,268$263,169▲ $48,901
Investments in Publicly Traded Securities$347,168$139,194▼ $207,974
Prepaid Expenses and Deferred Charges$26,177$26,360▲ $183
Accounts Receivable$28,830$23,566▼ $5,264
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$16,155,703$16,040,379▼ $115,324
Other Assets Total$149,663$151,116▲ $1,453
Liabilities
Other Liabilities$13,112,149$12,980,046▼ $132,103
Accounts Payable and Accrued Expenses$77,593$90,676▲ $13,083
Total Liabilities$13,189,742$13,070,722▼ $119,020
Net Assets / Fund Balance
Total Net Assets Fund Balance$2,965,961$2,969,657▲ $3,696
Total Liabilities and Net Assets / Fund Balance$16,155,703$16,040,379▼ $115,324

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$628,438$148,021$776,459
Equipment$28,195$336,424$364,619
Land$361,945-$361,945
Other Land Buildings$26,989$19,779$46,768
Leasehold Improvements$0$0$0
Other Securities$4,279,000--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Karen JurasekPresident - TreasurerFT$68,866$6,576$75,442

Board Members and Trustees

NameTitle
Dale HillersChairman of the Board
Robert BoydVice Chairman
Arron KochBoard Member
Don FiedlerBoard Member
Gary AskegaardBoard Member
Joanne FredaBoard Member
Jolene UnangstBoard Member
Peter GiacommazzoBoard Member
Randy FredingBoard Member
Wayne AxBoard Member
Cora BuddenSecretary of Board
Revenue and Support

Revenue Composition

Contributions and Grants
$89
Program Service Revenue
$583,566
Investment Income
$63,763
Other Revenue
$86,970
All Other Contributions
$0
Change in Net Assets
$11,702
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$400,329
Salaries, Compensation, and Employee Benefits$322,357
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$193,408
Current Officers, Directors, Trustees, and Key Employees---$68,866
Occupancy---$53,009
Office Expenses---$42,192
Depreciation Depletion---$35,075
Payroll Taxes---$31,519
Insurance---$30,800
Other Employee Benefits---$26,442
Advertising---$24,692
Information Technology---$24,385
Other Expenses---$23,248
Fees for Services Accounting---$19,955
Payments to Affiliates---$10,194
Fees for Services Legal---$6,468
Conferences and Meetings---$4,914
Pension Plan Contributions---$2,122
Total Functional Expenses$0$0$0$722,686
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
Yes
Subject to proxy tax
No

Reported Spending and Taxes

Line ItemAmount
Political Expenditures$164
Total Exempt Function Spending$164
Section 527 Activity Spending$0

Section 527 Organizations

OrganizationLocationAmount
36-3092340-$164
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Shares of Members$5,640,738
Other Classes of Shares CD's$4,120,923
Share Drafts$1,464,109
Common Shares IRA'S$1,431,847
Club Shares$322,429
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
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

The credit union requires those who have accounts or loans to be members.

Form 990, Part VI, Section A, Line 7A

Members vote on individuals who serve on the "Board of Directors" at the annual meeting held each year.

Form 990, Part VI, Section A, Line 7B

Members must approve changes in by-laws or mergers.

Form 990, Part VI, Section B, Line 11B

The 990 return is prepared by the credit union's accountant. It is than reviewed and approved by the credit union's president for accuracy and completeness prior to submission to the IRS.

Form 990, Part VI, Section B, Line 12C

A conflict interest occurs when you are in a postion to influence the credit union's transactions that may result in a personal gain to you or a "relative". For this purpose a "relative" is any person who is related to you by blood or marriage, or with whom you are cohabitating. It is important you disclose to the Presdent/CEO as soon as possible the existence of an actual or potential conflict of intersest so that a determination can be made to whether safeguards can be established to protect all parties. As employee and family members accounts are vulnerable to fraud, employees are prohibited from posting transactions to their own accounts. If you or a relateive receives any payment, gift, or other consideration as a result of a sanction or business dealing involving Generations Credit Union, you will have violtated this policy. If you have violated this policy, you maybe subject to disciplinary action up to and including termination. Conflicts for employees are reviewed by the CEO. The Chairman of the Board would review any conflicts of interest related to the CEO. Conflicts of interest for members of lthe board would be reviewed by the Chairmen of the Board and the Supervisory Committee. If there is a conflict of interest with any of the above, the individual would be prohibited from particpating in the governing body's deliberations and decesions in transactions.

Form 990, Part VI, Section B, Line 15

The position of "President" for the credit union is reviewed and approved by the"Chairman of the Board" and the "'Budget-Operations Committee" concerning the pay level and pay raise for the credit union's president. This was last done in 2013.

Form 990, Part VI, Section C, Line 19

The credit union posts on the website bulletin information containing the governing documents, conflict of interest and financial reports for public viewing.

Filing and Contact Details

Filer

EIN
36-2334218
Phone
8153162900

Signing Officer

Name
Karen Jurasek
Title
President
Phone
8153162900
Signed
2014-05-15

Organization Details

Principal Officer
Karen Jurasek
Formed
1944
Legal Domicile
Il
Voting Board Members
12
Independent Board Members
11
Employees
11
Volunteers
0
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IRS990/NetAssetsOrFundBalancesEOYAmt02969657
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt0-8006
IRS990/NoncashContributionsAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/TotalAmt053009
IRS990/OfficeExpensesGrp/TotalAmt042192
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0149663
IRS990/OtherAssetsTotalGrp/EOYAmt0151116
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/TotalAmt026442
IRS990/OtherExpensesGrp/Desc0DIVIDENDS
IRS990/OtherExpensesGrp/Desc1PROVISION FOR LOAN LOSSES
IRS990/OtherExpensesGrp/Desc2SHARE DRAFT EXPENSE
IRS990/OtherExpensesGrp/Desc3Cash Short Over Other Exp, Training
IRS990/OtherExpensesGrp/TotalAmt060324
IRS990/OtherExpensesGrp/TotalAmt138897
IRS990/OtherExpensesGrp/TotalAmt226176
IRS990/OtherExpensesGrp/TotalAmt323248
IRS990/OtherLiabilitiesGrp/BOYAmt013112149
IRS990/OtherLiabilitiesGrp/EOYAmt012980046
IRS990/OtherOrganizationDsc0Cooperative
IRS990/OtherRevenueMiscGrp/BusinessCd0524298
IRS990/OtherRevenueMiscGrp/BusinessCd1900099
IRS990/OtherRevenueMiscGrp/Desc0group insurance
IRS990/OtherRevenueMiscGrp/Desc1FEES AND OTHER INCOME
IRS990/OtherRevenueMiscGrp/ExclusionAmt00
IRS990/OtherRevenueMiscGrp/ExclusionAmt10
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt08352
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt178618
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt08352
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt178618
IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt00
IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt10
IRS990/OtherRevenueTotalAmt086970
IRS990/OtherSalariesAndWagesGrp/TotalAmt0193408
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt09969835
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt09190939
IRS990/PartialLiquidationInd00
IRS990/PaymentsToAffiliatesGrp/TotalAmt010194
IRS990/PayrollTaxesGrp/TotalAmt031519
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt02122
IRS990/PoliticalCampaignActyInd01
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt026177
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt026360
IRS990/PrincipalOfficerNm0KAREN JURASEK
IRS990/PriorPeriodAdjustmentsAmt00
IRS990/ProfessionalFundraisingInd00
IRS990/ProgSrvcAccomActy2Grp/Desc0Returned 6.4% of gross income to members as a dividend to their savings.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt00
IRS990/ProgSrvcAccomActy2Grp/GrantAmt00
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt00
IRS990/ProgSrvcAccomActy3Grp/Desc0Provided Consumer, Home Equity, New and Used Vehicle Loans to members. In 2013 there was 560 loans granted to members and provided 358 members with Visa Cards.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt00
IRS990/ProgSrvcAccomActy3Grp/GrantAmt00
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt00
IRS990/ProgSrvcAccomActyOtherGrp/Desc0167 new members joined in 2013, while 178 current members left the credit union giving a new membership amount of 2,046 members at the end of the year. (0 0)
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt00
IRS990/ProgSrvcAccomActyOtherGrp/GrantAmt00
IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt086
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt074679
IRS990/PYOtherExpensesAmt0401823
IRS990/PYOtherRevenueAmt099809
IRS990/PYProgramServiceRevenueAmt0597676
IRS990/PYRevenuesLessExpensesAmt032312
IRS990/PYSalariesCompEmpBnftPaidAmt0338115
IRS990/PYTotalExpensesAmt0739938
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0772250
IRS990/ReconcilationRevenueExpnssAmt011702
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RelatedOrganizationsAmt00
IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
IRS990/ReportInvestmentsOtherSecInd01
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt00
IRS990/RoyaltiesRevenueGrp/ExclusionAmt00
IRS990/RoyaltiesRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RoyaltiesRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt02965961
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt02969657
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0467270
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0921468
IRS990/ScheduleBRequiredInd00
IRS990ScheduleC/Expended527ActivitiesAmt00
IRS990ScheduleC/Form1120POLFiledInd01
IRS990ScheduleC/InternalFundsContributedAmt0164
IRS990ScheduleC/PoliticalExpendituresAmt0164
IRS990ScheduleC/Section527PoliticalOrgGrp/ContributionsRcvdDlvrAmt00
IRS990ScheduleC/Section527PoliticalOrgGrp/EIN0363092340
IRS990ScheduleC/Section527PoliticalOrgGrp/OrganizationBusinessName/BusinessNameLine10Credit Union Political Action Council
IRS990ScheduleC/Section527PoliticalOrgGrp/PaidInternalFundsAmt0164
IRS990ScheduleC/Section527PoliticalOrgGrp/USAddress/AddressLine101807 West Diehl Road
IRS990ScheduleC/Section527PoliticalOrgGrp/USAddress/AddressLine20PO Box 3017
IRS990ScheduleC/Section527PoliticalOrgGrp/USAddress/City0Naperville
IRS990ScheduleC/Section527PoliticalOrgGrp/USAddress/State0IL
IRS990ScheduleC/Section527PoliticalOrgGrp/USAddress/ZIPCode0605667107
IRS990ScheduleC/SupplementalInformationDetail/ExplanationTxt0The organization's only political activity is the contribution to Credit Union Political Council that is reported in Parts I-A and I-C of this Schedule C.
IRS990ScheduleC/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule C, Part I-A, Line 1
IRS990ScheduleC/TotalExemptFunctionExpendAmt0164
IRS990ScheduleC/VolunteerHoursCnt00
IRS990ScheduleD/BuildingsGrp/BookValueAmt0628438
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0148021
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0776459
IRS990ScheduleD/EquipmentGrp/BookValueAmt028195
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0336424
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0364619
IRS990ScheduleD/LandGrp/BookValueAmt0361945
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0361945
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt026989
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt019779
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt046768
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt05640738
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt11464109
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt24120923
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt31431847
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt4322429
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Shares of Members
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Share Drafts
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Other Classes of Shares CD's
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3Common Shares IRA'S
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc4Club Shares
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt04279000
IRS990ScheduleD/OtherSecuritiesGrp/Desc0CD'S IN BANKS AND CREDIT UNIONS
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0C
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01045567
IRS990ScheduleD/TotalBookValueSecuritiesAmt04279000
IRS990ScheduleD/TotalLiabilityAmt012980046
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The credit union requires those who have accounts or loans to be members.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Members vote on individuals who serve on the "Board of Directors" at the annual meeting held each year.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Members must approve changes in by-laws or mergers.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The 990 return is prepared by the credit union's accountant. It is than reviewed and approved by the credit union's president for accuracy and completeness prior to submission to the IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4A conflict interest occurs when you are in a postion to influence the credit union's transactions that may result in a personal gain to you or a "relative". For this purpose a "relative" is any person who is related to you by blood or marriage, or with whom you are cohabitating. It is important you disclose to the Presdent/CEO as soon as possible the existence of an actual or potential conflict of intersest so that a determination can be made to whether safeguards can be established to protect all parties. As employee and family members accounts are vulnerable to fraud, employees are prohibited from posting transactions to their own accounts. If you or a relateive receives any payment, gift, or other consideration as a result of a sanction or business dealing involving Generations Credit Union, you will have violtated this policy. If you have violated this policy, you maybe subject to disciplinary action up to and including termination. Conflicts for employees are reviewed by the CEO. The Chairman of the Board would review any conflicts of interest related to the CEO. Conflicts of interest for members of lthe board would be reviewed by the Chairmen of the Board and the Supervisory Committee. If there is a conflict of interest with any of the above, the individual would be prohibited from particpating in the governing body's deliberations and decesions in transactions.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5The position of "President" for the credit union is reviewed and approved by the"Chairman of the Board" and the "'Budget-Operations Committee" concerning the pay level and pay raise for the credit union's president. This was last done in 2013.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6The credit union posts on the website bulletin information containing the governing documents, conflict of interest and financial reports for public viewing.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, Line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, Line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section A, Line 7b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Section B, Line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part VI, Section C, Line 19

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$22.5$19.1$3.41$1.16$1.13$0.04
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$21.4$18.1$3.28$0.94$0.84$0.10
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$21.3$18.2$3.17$1.10$0.86$0.24
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$18.5$15.6$2.89$0.90$0.85$0.05
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$18.6$15.7$2.84$0.84$0.82$0.02
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$18.3$15.5$2.82$0.79$0.76$0.03
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$18.5$15.7$2.79$0.75$0.91$0.16
2015Detailed filing. Detailed filing data is available for this year.$18.0$15.0$2.96$0.70$0.72$0.02
2014Detailed filing. Detailed filing data is available for this year.$16.3$13.3$2.98$0.69$0.67$0.01
2013Detailed filing. Detailed filing data is available for this year.$16.0$13.1$2.97$0.73$0.72$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$16.2$13.2$2.97$0.74
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.6$12.6$2.94$0.77
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$16.3$13.4$2.91$0.88