Civic Intelligence

Gale Credit Union

990 • Fiscal year 2015 • EIN 37-0694528

Jan 01, 2015 to Dec 31, 2015 • Filed on May 10, 2016

Organization ProfileN/A

View Organization Page

631 N Henderson StGalesburg, IL 61401

(309) 343-1777

Siviq Scores

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

Liabilities / Assets

28th percentile

0.85x

Higher debt load relative to assets than 28% of similar nonprofits.

2015 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2015

Liabilities / Revenue

53rd percentile

20.99x

Higher debt load relative to revenue than 53% of similar nonprofits.

2015 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2015

Net Margin

58th percentile

9.7%

Higher net margin than 58% of similar nonprofits.

2015 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2015

Top Officer Pay

36th percentile

$83,923

Higher top officer pay than 36% of similar nonprofits.

Top officer pay equals 7.7% of source-year revenue.

2015 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2015

Asset Growth

46th percentile

2.5%

Faster asset growth than 46% of similar nonprofits.

2015 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2014 to 2015

Revenue Growth

95th percentile

16%

Faster revenue growth than 95% of similar nonprofits.

2015 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets28th percentile

Assets

Up

$26,804,052

Up $655,177 (+2.5%) from 2014

Net Assets

Up

$3,986,516

Up $105,803 (+2.7%) from 2014

Liabilities

Up

$22,817,536

Up $549,374 (+2.5%) from 2014

Revenue And Expenses
Liabilities / Revenue53rd percentileNet Margin58th percentile

Revenue

Up

$1,086,809

Up $153,784 (+16%) from 2014

Expenses

Up

$980,996

Up $74,969 (+8.3%) from 2014

Net Income

Up

$105,813

Up $78,815 (+292%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth46th percentile

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

$60M$40M$20M$0Assets 2010: $24,768,722Liabilities 2010: $20,982,354Net Assets 2010: $3,786,3682010Assets 2011: $25,005,528Liabilities 2011: $21,201,491Net Assets 2011: $3,804,0372011Assets 2013: $26,367,586Liabilities 2013: $22,513,865Net Assets 2013: $3,853,7212013Assets 2014: $26,148,875Liabilities 2014: $22,268,162Net Assets 2014: $3,880,7132014Assets 2015: $26,804,052Liabilities 2015: $22,817,536Net Assets 2015: $3,986,5162015Assets 2016: $27,118,092Liabilities 2016: $23,353,826Net Assets 2016: $3,764,2662016Assets 2018: $25,859,159Liabilities 2018: $22,412,927Net Assets 2018: $3,446,2322018Assets 2019: $27,248,915Liabilities 2019: $23,522,654Net Assets 2019: $3,726,2612019Assets 2021: $35,515,848Liabilities 2021: $31,026,641Net Assets 2021: $4,489,2072021Assets 2024: $59,908,790Liabilities 2024: $53,010,585Net Assets 2024: $6,898,2052024

Highlighted filing

2015

Assets$26,804,052
Liabilities$22,817,536
Net Assets$3,986,516
Open 2015 Filing

Operations Trend

Revenue Growth95th percentile

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $1,190,3682010Expenses 2011: $1,065,0732011Revenue 2013: $915,615Expenses 2013: $902,035Net Income 2013: $13,5802013Revenue 2014: $933,025Expenses 2014: $906,027Net Income 2014: $26,9982014Revenue 2015: $1,086,809Expenses 2015: $980,996Net Income 2015: $105,8132015Revenue 2016: $1,242,818Expenses 2016: $1,465,037Net Income 2016: -$222,2192016Revenue 2018: $1,261,417Expenses 2018: $1,223,323Net Income 2018: $38,0942018Revenue 2019: $1,332,994Expenses 2019: $1,052,965Net Income 2019: $280,0292019Revenue 2021: $1,613,821Expenses 2021: $1,183,611Net Income 2021: $430,2102021Revenue 2024: $3,666,245Expenses 2024: $3,198,137Net Income 2024: $468,1082024

Highlighted filing

2015

Revenue$1,086,809
Expenses$980,996
Net Income$105,813
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
May 10, 2016
Return Version
2015v2.1
Gross Receipts
$1,112,384
Mission and Program Overview

Mission

To promote thrift and to provide the highest quality competitive services and benefits to its members, while assuring the credit union's long-term financial stability.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$10,679,403$12,971,307▲ $2,291,904
Investments in Publicly Traded Securities$9,724,927$8,082,745▼ $1,642,182
Savings and Temporary Cash Investments$4,423,968$4,319,209▼ $104,759
Rtn Earn Endowment Incm Other Fnds$3,880,713$3,986,516▲ $105,803
Cash and Non-Interest-Bearing Accounts$464,604$599,461▲ $134,857
Land, Buildings, and Equipment, Net$489,138$472,415▼ $16,723
Prepaid Expenses and Deferred Charges$40,494$69,792▲ $29,298
Total Assets$26,148,875$26,804,052▲ $655,177
Other Assets Total$326,341$289,123▼ $37,218
Liabilities
Other Liabilities$22,209,590$22,792,016▲ $582,426
Accounts Payable and Accrued Expenses$58,572$25,520▼ $33,052
Total Liabilities$22,268,162$22,817,536▲ $549,374
Net Assets / Fund Balance
Total Net Assets Fund Balance$3,880,713$3,986,516▲ $105,803
Total Liabilities and Net Assets / Fund Balance$26,148,875$26,804,052▲ $655,177

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$331,276$297,284$628,560
Equipment$43,828$512,956$556,784
Land$97,311-$97,311
Compensation and Service Providers
Top Officer Pay36th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jennifer RogersCu President/treasurerFT$77,740$6,183$83,923

Board Members and Trustees

NameTitle
Michelle ReyburnChairperson
Julie MainVice-chairperson
Christine PepmeyerDirector
JAMES O'BRIENDirector
James McnabbDirector
Linda LarsonDirector
Linda StroopsDirector
Linda TownsendDirector
Rosemary SherwoodSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$902,885
Investment Income
$183,924
Other Revenue
$0
Change in Net Assets
$105,813
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$594,019
Salaries, Compensation, and Employee Benefits$386,977
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$230,632
Current Officers, Directors, Trustees, and Key Employees---$83,923
Other Expenses---$63,696
Office Expenses---$56,652
Information Technology---$43,220
Occupancy---$43,020
Fees for Services Other---$38,200
Depreciation Depletion---$34,188
Other Employee Benefits---$30,211
Fees for Services Accounting---$28,663
Payroll Taxes---$27,553
Insurance---$21,567
Pension Plan Contributions---$14,658
All Other Expenses---$14,610
Advertising---$6,591
Conferences and Meetings---$2,051
Fees for Services Legal---$38
Total Functional Expenses$0$0$0$980,996
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
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Member Share Accounts$22,792,016
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
Yes
Compensation from other sources disclosed
No
CEO compensation reviewed
No
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
Filing and Contact Details

Filer

Filer Name
Gale Credit Union
EIN
37-0694528
Phone
3093431777
Address
631 N HENDERSON ST, GALESBURG, IL 61401

Signing Officer

Name
Jennifer Rogers
Title
President
Phone
3093431777
Signed
2016-05-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jennifer Rogers
Formed
1947
Legal Domicile
Il
Voting Board Members
10
Independent Board Members
9
Employees
10
Volunteers
9

Preparer

Firm
Lmhn Ltd
Address
900 N Webster St PO Box 87, Taylorville, IL 62568
Preparer
Iris Noblet Crites
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

“From time to time, certain decisions will be presented to 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 made available to each board member prior to being filed with the irs. Board members were asked to review the return individually and to contact the return prepaper, other board members, or executive officers with any questions or concerns.”

Pt VI, Line 12C

“The credit union enforces the conflict of interest policy through awareness and review of affirmation forms for suspicious activity.”

Pt VI, Line 19

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

Pt VI, Line 2

“Director linda townsend is cousins with director linda stroops.”

Pt VI, Line 4

“The credit union amended its by-laws to both increase and”

Pt VI, Line 4

“Decrease the number of directors during the year.”

Form 990, Part IX, Line 24F

“Dues 12860. Miscellaneous 1750.”

Raw XML Appendix353 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/LandGrp/BookValueAmt097311
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt097311
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt022792016
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MEMBER SHARE ACCOUNTS
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0472415
IRS990ScheduleD/TotalLiabilityAmt022792016
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/ExplanationTxt2FROM TIME TO TIME, CERTAIN DECISIONS WILL BE PRESENTED TO THE MEMBERSHIP FOR A VOTE, WHICH IS DETERMINED ON A CASE BY CASE BASIS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COPIES OF THE FINAL FORM 990 AND SCHEDULES WERE MADE AVAILABLE TO EACH BOARD MEMBER PRIOR TO BEING FILED WITH THE IRS. BOARD MEMBERS WERE ASKED TO REVIEW THE RETURN INDIVIDUALLY AND TO CONTACT THE RETURN PREPAPER, OTHER BOARD MEMBERS, OR EXECUTIVE OFFICERS WITH ANY QUESTIONS OR CONCERNS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE CREDIT UNION ENFORCES THE CONFLICT OF INTEREST POLICY THROUGH AWARENESS AND REVIEW OF AFFIRMATION FORMS FOR SUSPICIOUS ACTIVITY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE CREDIT UNION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6DIRECTOR LINDA TOWNSEND IS COUSINS WITH DIRECTOR LINDA STROOPS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE CREDIT UNION AMENDED ITS BY-LAWS TO BOTH INCREASE AND
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8DECREASE THE NUMBER OF DIRECTORS DURING THE YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9DUES 12860. MISCELLANEOUS 1750.
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 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Pt VI, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Pt VI, Line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Pt VI, Line 4
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8Pt VI, Line 4
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9Form 990, Part IX, Line 24f
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt026148875
IRS990/TotalAssetsEOYAmt026804052
IRS990/TotalAssetsGrp/BOYAmt026148875
IRS990/TotalAssetsGrp/EOYAmt026804052
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt010
IRS990/TotalFunctionalExpensesGrp/TotalAmt0980996
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt022268162
IRS990/TotalLiabilitiesEOYAmt022817536
IRS990/TotalLiabilitiesGrp/BOYAmt022268162
IRS990/TotalLiabilitiesGrp/EOYAmt022817536
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt03880713
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03986516
IRS990/TotalOtherCompensationAmt06183
IRS990/TotalProgramServiceRevenueAmt0902885
IRS990/TotalReportableCompFromOrgAmt077740
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01086809
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01086809
IRS990/TotalVolunteersCnt09
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt026148875
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt026804052
IRS990/TransactionWithControlEntInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0631 N HENDERSON ST
IRS990/USAddress/CityNm0GALESBURG
IRS990/USAddress/StateAbbreviationCd0IL
IRS990/USAddress/ZIPCd061401
IRS990/VotingMembersGoverningBodyCnt010
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02016-09-27 15:27:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JENNIFER ROGERS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum03093431777
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-05-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0GALE CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0GALE
ReturnHeader/Filer/EIN0370694528
ReturnHeader/Filer/PhoneNum03093431777
ReturnHeader/Filer/USAddress/AddressLine1Txt0631 N HENDERSON ST
ReturnHeader/Filer/USAddress/CityNm0GALESBURG
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IL
ReturnHeader/Filer/USAddress/ZIPCd061401
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/PreparationDt02016-05-16
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0IRIS NOBLET CRITES
ReturnHeader/ReturnTs02016-05-16T09:50:08-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-01-01
ReturnHeader/TaxPeriodEndDt02015-12-31
ReturnHeader/TaxYr02015

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$26,804,052
Liabilities
$22,817,536
Net assets
$3,986,516
Revenue
$1,086,809
Expenses
$980,996
Net income
$105,813
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$59.9$53.0$6.90$3.67$3.20$0.47
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$35.5$31.0$4.49$1.61$1.18$0.43
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$27.2$23.5$3.73$1.33$1.05$0.28
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$25.9$22.4$3.45$1.26$1.22$0.04
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$27.1$23.4$3.76$1.24$1.47$0.22
2015Detailed filing. Detailed filing data is available for this year.$26.8$22.8$3.99$1.09$0.98$0.11
2014Detailed filing. Detailed filing data is available for this year.$26.1$22.3$3.88$0.93$0.91$0.03
2013Detailed filing. Detailed filing data is available for this year.$26.4$22.5$3.85$0.92$0.90$0.01
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$25.0$21.2$3.80$1.07
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$24.8$21.0$3.79$1.19
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2015 filings • 501(c)14 • $25M-$50M nonprofits