Civic Intelligence

Bakelite Ottawa Plastics Credit Union

990 • Fiscal year 2019 • EIN 36-2418919

Jan 01, 2019 to Dec 31, 2019 • Filed on Oct 13, 2020

Organization Profilewww.firstchoicecu.com

View Organization Page

311 E Joliet StOttawa, IL 61350

(815) 434-5860

Siviq Scores

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

Liabilities / Assets

74th percentile

0.89x

Higher debt load relative to assets than 74% of similar nonprofits.

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

Liabilities / Revenue

52nd percentile

17.74x

Higher debt load relative to revenue than 52% of similar nonprofits.

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

Net Margin

27th percentile

3.7%

Higher net margin than 27% of similar nonprofits.

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

Top Officer Pay

45th percentile

$72,641

Higher top officer pay than 45% of similar nonprofits.

Top officer pay equals 11.9% of source-year revenue.

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

Asset Growth

60th percentile

3.0%

Faster asset growth than 60% of similar nonprofits.

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

Revenue Growth

97th percentile

21%

Faster revenue growth than 97% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets74th percentile

Assets

Up

$12,134,554

Up $353,675 (+3.0%) from 2018

Net Assets

Up

$1,292,728

Up $62,432 (+5.1%) from 2018

Liabilities

Up

$10,841,826

Up $291,243 (+2.8%) from 2018

Revenue And Expenses
Liabilities / Revenue52nd percentileNet Margin27th percentile

Revenue

Up

$611,202

Up $104,554 (+21%) from 2018

Expenses

Down

$588,860

Down $11,525 (-1.9%) from 2018

Net Income

Up

$22,342

Up $116,079 (+124%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth60th percentile

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

$15M$10M$5.0M$0Assets 2010: $10,757,665Liabilities 2010: $9,439,907Net Assets 2010: $1,317,7582010Assets 2011: $10,629,046Liabilities 2011: $9,183,697Net Assets 2011: $1,445,3492011Assets 2012: $11,464,397Liabilities 2012: $9,919,344Net Assets 2012: $1,545,0532012Assets 2013: $11,644,863Liabilities 2013: $10,075,849Net Assets 2013: $1,569,0142013Assets 2014: $11,600,843Liabilities 2014: $10,007,503Net Assets 2014: $1,593,3402014Assets 2015: $12,111,280Liabilities 2015: $10,521,196Net Assets 2015: $1,590,0842015Assets 2017: $11,972,611Liabilities 2017: $10,632,578Net Assets 2017: $1,340,0332017Assets 2018: $11,780,879Liabilities 2018: $10,550,583Net Assets 2018: $1,230,2962018Assets 2019: $12,134,554Liabilities 2019: $10,841,826Net Assets 2019: $1,292,7282019Assets 2020: $12,351,265Liabilities 2020: $11,084,126Net Assets 2020: $1,267,1392020Assets 2021: $0Liabilities 2021: $0Net Assets 2021: $02021

Highlighted filing

2019

Assets$12,134,554
Liabilities$10,841,826
Net Assets$1,292,728
Open 2019 Filing

Operations Trend

Revenue Growth97th percentile

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

$800K$600K$400K$200K$0-$200KExpenses 2010: $593,8682010Expenses 2011: $478,7752011Expenses 2012: $490,9102012Revenue 2013: $547,150Expenses 2013: $523,189Net Income 2013: $23,9612013Revenue 2014: $526,501Expenses 2014: $504,919Net Income 2014: $21,5822014Revenue 2015: $505,294Expenses 2015: $508,550Net Income 2015: -$3,2562015Revenue 2017: $460,198Expenses 2017: $578,262Net Income 2017: -$118,0642017Revenue 2018: $506,648Expenses 2018: $600,385Net Income 2018: -$93,7372018Revenue 2019: $611,202Expenses 2019: $588,860Net Income 2019: $22,3422019Revenue 2020: $557,773Expenses 2020: $592,584Net Income 2020: -$34,8112020Revenue 2021: $364,347Expenses 2021: $485,508Net Income 2021: -$121,1612021

Highlighted filing

2019

Revenue$611,202
Expenses$588,860
Net Income$22,342
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Oct 13, 2020
Return Version
2019v5.1
Gross Receipts
$611,202
Mission and Program Overview

Mission

To provide security of savings and selected financial services to its members in a convenient, responsive manner, at competitive rates, while maintaining financial stability and adequate capital within the organization

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$5,704,982$5,335,024▼ $369,958
Other Notes and Loans Receivable, Net$4,839,392$5,295,826▲ $456,434
Cap Stk Tr Prin Current Funds$1,230,296$1,292,728▲ $62,432
Savings and Temporary Cash Investments$398,866$755,852▲ $356,986
Land, Buildings, and Equipment, Net$325,288$308,974▼ $16,314
Cash and Non-Interest-Bearing Accounts$227,060$272,062▲ $45,002
Prepaid Expenses and Deferred Charges$12,075$26,698▲ $14,623
Total Assets$11,780,879$12,134,554▲ $353,675
Other Assets Total$273,216$140,118▼ $133,098
Liabilities
Other Liabilities$10,517,950$10,805,847▲ $287,897
Accounts Payable and Accrued Expenses$32,633$35,979▲ $3,346
Total Liabilities$10,550,583$10,841,826▲ $291,243
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,230,296$1,292,728▲ $62,432
Total Liabilities and Net Assets / Fund Balance$11,780,879$12,134,554▲ $353,675

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$148,233$219,946$368,179
Leasehold Improvements$35,741$315,143$350,884
Land$125,000-$125,000
Compensation and Service Providers
Top Officer Pay45th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Diane M JohnsonPresident/credit Comm. ChairFT$65,265$7,376$72,641

Board Members and Trustees

NameTitle
Robert J BeguinChairman
James P KleinSupervisory Chairman
Phyllis a DonahueVice Chair/treasurer
Richard E ScottDirector
Stephen E SchaibleyDirector
Thomas G GaniereDirector
Robert D WilsonSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$467,901
Investment Income
$143,301
Other Revenue
$0
Change in Net Assets
$22,342
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$312,835
Salaries, Compensation, and Employee Benefits$276,025
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Office Expenses$0$0$0$184,982
Other Salaries and Wages$0$0$0$168,518
Current Officers, Directors, Trustees, and Key Employees$0$0$0$72,641
Occupancy$0$0$0$25,423
Depreciation Depletion$0$0$0$18,315
Payroll Taxes$0$0$0$18,238
Advertising$0$0$0$16,603
Other Employee Benefits$0$0$0$16,241
Fees for Services Accounting$0$0$0$14,204
Other Expenses$0$0$0$11,290
All Other Expenses$0$0$0$9,594
Travel$0$0$0$3,642
Fees for Services Other$0$0$0$3,170
Insurance$0$0$0$2,738
Pension Plan Contributions$0$0$0$387
Interest$0$0$0$1
Total Functional Expenses$0$0$0$588,860
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
Members Shares and Savings Accounts$10,805,847
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
First Choice Credit Union
EIN
36-2418919
Phone
8154345860
Address
311 E JOLIET ST, OTTAWA, IL 61350

Signing Officer

Name
Diane Johnson
Title
President
Phone
8154345860
Signed
2020-10-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Diane Johnson
Formed
1953
Legal Domicile
Il
Voting Board Members
7
Independent Board Members
7
Employees
9
Volunteers
7

Preparer

Firm
Lmhn Ltd
Address
900 N Webster St PO Box 87, Taylorville, IL 62568
Preparer
Richard K Hooper CPA
Phone
2178249661
Supplemental Narrative

Additional Explanations

Pt VI, Line 6

“The credit union is a member owned financial institution.”

Pt VI, Line 7A

“The governing body is elected from and by the membership annually”

Pt VI, Line 7B

“The membership for a vote, which is determined on a case by case basis”

Pt VI, Line 11B

“Copies of the final form 990 and schedules were supplied to the credit union for approval prior to being filed with the irs and to contact the return preparer, board members, or executive officers with any questions or concerns.”

Pt VI, Line 19

“The credit union's governing documents and financial statements are available to the public upon request.”

Pt XI

“Other changes in net assets represents comprehensive income fmv adjustment for available-for-sale investments.”

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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IRS990/PYOtherExpensesAmt0341807
IRS990/PYProgramServiceRevenueAmt0380248
IRS990/PYRevenuesLessExpensesAmt0-93737
IRS990/PYSalariesCompEmpBnftPaidAmt0258578
IRS990/PYTotalExpensesAmt0600385
IRS990/PYTotalRevenueAmt0506648
IRS990/ReconcilationRevenueExpnssAmt022342
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IRS990/ReportLandBuildingEquipmentInd0true
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IRS990/SavingsAndTempCashInvstGrp/EOYAmt0755852
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IRS990ScheduleD/BuildingsGrp/BookValueAmt0148233
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0219946
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0368179
IRS990ScheduleD/LandGrp/BookValueAmt0125000
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0125000
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt035741
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0315143
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0350884
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt010805847
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MEMBERS SHARES AND SAVINGS ACCOUNTS
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0308974
IRS990ScheduleD/TotalLiabilityAmt010805847
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE CREDIT UNION IS A MEMBER OWNED FINANCIAL INSTITUTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE GOVERNING BODY IS ELECTED FROM AND BY THE MEMBERSHIP ANNUALLY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE MEMBERSHIP FOR A VOTE, WHICH IS DETERMINED ON A CASE BY CASE BASIS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COPIES OF THE FINAL FORM 990 AND SCHEDULES WERE SUPPLIED TO THE CREDIT UNION FOR APPROVAL PRIOR TO BEING FILED WITH THE IRS AND TO CONTACT THE RETURN PREPARER, BOARD MEMBERS, OR EXECUTIVE OFFICERS WITH ANY QUESTIONS OR CONCERNS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE CREDIT UNION'S GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5OTHER CHANGES IN NET ASSETS REPRESENTS COMPREHENSIVE INCOME FMV ADJUSTMENT FOR AVAILABLE-FOR-SALE INVESTMENTS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 7b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Pt VI, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Pt XI
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt011780879
IRS990/TotalAssetsEOYAmt012134554
IRS990/TotalAssetsGrp/BOYAmt011780879
IRS990/TotalAssetsGrp/EOYAmt012134554
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt09
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0588860
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt010550583
IRS990/TotalLiabilitiesEOYAmt010841826
IRS990/TotalLiabilitiesGrp/BOYAmt010550583
IRS990/TotalLiabilitiesGrp/EOYAmt010841826
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01230296
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01292728
IRS990/TotalOtherCompensationAmt07376
IRS990/TotalProgramServiceRevenueAmt0467901
IRS990/TotalReportableCompFromOrgAmt065265
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0611202
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0611202
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt07
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt011780879
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt012134554
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/FundraisingAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt00
IRS990/TravelGrp/ProgramServicesAmt00
IRS990/TravelGrp/TotalAmt03642
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0311 E JOLIET ST
IRS990/USAddress/CityNm0OTTAWA
IRS990/USAddress/StateAbbreviationCd0IL
IRS990/USAddress/ZIPCd061350
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0www.firstchoicecu.com
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02021-04-22 16:20:28Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DIANE JOHNSON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum08154345860
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-10-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FIRST CHOICE CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0FIRS
ReturnHeader/Filer/EIN0362418919
ReturnHeader/Filer/PhoneNum08154345860
ReturnHeader/Filer/USAddress/AddressLine1Txt0311 E JOLIET ST
ReturnHeader/Filer/USAddress/CityNm0OTTAWA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IL
ReturnHeader/Filer/USAddress/ZIPCd061350
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0805B1930833A92FC9A167074632D7C54E3A7A6B3
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId09053A84F960D2011A779795FEFEF47A7AF0AB3D6
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt072.9.116.36
ReturnHeader/FilingSecurityInformation/IPDt02020-10-23
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0PD
ReturnHeader/FilingSecurityInformation/IPTm013:51:46
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0LMHN LTD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0900 N Webster St PO Box 87
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Taylorville
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd062568
ReturnHeader/PreparerPersonGrp/PhoneNum02178249661
ReturnHeader/PreparerPersonGrp/PreparationDt02020-10-23
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Richard K Hooper CPA
ReturnHeader/ReturnTs02020-10-23T13:51:54-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$12,134,554
Liabilities
$10,841,826
Net assets
$1,292,728
Revenue
$611,202
Expenses
$588,860
Net income
$22,342
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2021Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.36$0.49$0.12
2020Detailed filing. Detailed filing data is available for this year.$12.4$11.1$1.27$0.56$0.59$0.03
2019Detailed filing. Detailed filing data is available for this year.$12.1$10.8$1.29$0.61$0.59$0.02
2018Detailed filing. Detailed filing data is available for this year.$11.8$10.6$1.23$0.51$0.60$0.09
2017Detailed filing. Detailed filing data is available for this year.$12.0$10.6$1.34$0.46$0.58$0.12
2015Detailed filing. Detailed filing data is available for this year.$12.1$10.5$1.59$0.51$0.51$0.00
2014Detailed filing. Detailed filing data is available for this year.$11.6$10.0$1.59$0.53$0.50$0.02
2013Detailed filing. Detailed filing data is available for this year.$11.6$10.1$1.57$0.55$0.52$0.02
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.5$9.92$1.55$0.49
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.6$9.18$1.45$0.48
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.8$9.44$1.32$0.59