Civic Intelligence

Bakelite Ottawa Plastics Credit Union

990 • Fiscal year 2021 • EIN 36-2418919

Jan 01, 2021 to Oct 04, 2021 • Filed on Mar 13, 2022

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

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on this filing.

Source year 2021

Liabilities / Revenue

57th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2021 filings • <$500k nonprofits • Source year 2021

Net Margin

16th percentile

-33%

Higher net margin than 16% of similar nonprofits.

2021 filings • <$500k nonprofits • Source year 2021

Top Officer Pay

78th percentile

$0

Higher top officer pay than 78% of similar nonprofits.

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

2021 filings • <$500k nonprofits • Source year 2021

Asset Growth

2nd percentile

-100%

Faster asset growth than 2% of similar nonprofits.

2021 filings • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

22nd percentile

-35%

Faster revenue growth than 22% of similar nonprofits.

2021 filings • <$500k nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / AssetsScore unavailable

Assets

Down

$0

Down $12,351,265 (-100%) from 2020

Net Assets

Down

$0

Down $1,267,139 (-100%) from 2020

Liabilities

Down

$0

Down $11,084,126 (-100%) from 2020

Revenue And Expenses
Liabilities / Revenue57th percentileNet Margin16th percentile

Revenue

Down

$364,347

Down $193,426 (-35%) from 2020

Expenses

Down

$485,508

Down $107,076 (-18%) from 2020

Net Income

Down

-$121,161

Down $86,350 (-248%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth2nd 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

2021

Assets$0
Liabilities$0
Net Assets$0
Open 2021 Filing

Operations Trend

Revenue Growth22nd 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

2021

Revenue$364,347
Expenses$485,508
Net Income-$121,161
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Oct 4, 2021
Signed
Mar 13, 2022
Return Version
2021v4.1
Gross Receipts
$364,347
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
Savings and Temporary Cash Investments$5,071,147--
Other Notes and Loans Receivable, Net$3,801,003--
Investments in Publicly Traded Securities$2,740,266--
Cap Stk Tr Prin Current Funds$1,267,139--
Land, Buildings, and Equipment, Net$303,446$0▼ $303,446
Cash and Non-Interest-Bearing Accounts$284,214--
Prepaid Expenses and Deferred Charges$26,883--
Total Assets$12,351,265$0▼ $12,351,265
Other Assets Total$124,306--
Liabilities
Other Liabilities$11,054,033$0▼ $11,054,033
Accounts Payable and Accrued Expenses$30,093--
Total Liabilities$11,084,126$0▼ $11,084,126
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,267,139$0▼ $1,267,139
Total Liabilities and Net Assets / Fund Balance$12,351,265$0▼ $12,351,265

Asset Categories

AssetBook ValueDepreciationBasis
Land$0--
Compensation and Service Providers
Top Officer Pay78th percentile

Board Members and Trustees

NameTitle
Thomas G GaniereChairman
James P KleinSupervisory Chairman
Diane M JohnsonPresident
Phyllis a DonahueVice Chair/treasurer
Richard E ScottDirector
Robert J BeguinDirector
Stephen E SchaibleyDirector
Robert D WilsonSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$310,392
Investment Income
$53,955
Other Revenue
$0
Change in Net Assets
$-121,161
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$285,781
Salaries, Compensation, and Employee Benefits$199,727
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$0$0$0$175,612
Office Expenses$0$0$0$168,938
Depreciation Depletion$0$0$0$33,176
Occupancy$0$0$0$19,121
Payroll Taxes$0$0$0$15,108
Fees for Services Accounting$0$0$0$14,962
Fees for Services Other$0$0$0$9,262
Other Employee Benefits$0$0$0$9,007
Other Expenses$0$0$0$8,773
Insurance$0$0$0$2,948
Advertising$0$0$0$1,502
Travel$0$0$0$1,145
All Other Expenses$0$0$0$752
Total Functional Expenses$0$0$0$485,508
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$0
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
Thom Ewen
Title
President
Phone
8154345860
Signed
2022-03-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Thom Ewen
Formed
1953
Legal Domicile
Il
Voting Board Members
7
Independent Board Members
7
Employees
0
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 the effect of the credit union merger at the end of the effective date end of day.”

Raw XML Appendix390 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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IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt0COST WHICH APPROXIMATES FMV
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IRS990ScheduleN/SupplementalInformationDetail/ExplanationTxt0DIANE JOHNSON FORMER PRESIDENT OF FCCU, BECAME A DIRECTOR ON ISCU BOARD OF DIRECTORS.
IRS990ScheduleN/SupplementalInformationDetail/FormAndLineReferenceDesc0Part I, Line 2e
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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 THE EFFECT OF THE CREDIT UNION MERGER AT THE END OF THE EFFECTIVE DATE END OF DAY.
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
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0364347
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0THOM EWEN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum08154345860
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-03-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FIRST CHOICE CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0FIRS
ReturnHeader/Filer/EIN0362418919
ReturnHeader/Filer/PhoneNum08154345860
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0371410049
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/PreparationDt02022-05-04
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Richard K Hooper CPA
ReturnHeader/ReturnTs02022-05-04T15:25:49-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0THOM
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ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-10-04
ReturnHeader/TaxYr02021

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$0
Liabilities
$0
Net assets
$0
Revenue
$364,347
Expenses
$485,508
Net income
-$121,161
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