Civic Intelligence

Gale Credit Union

990 • Fiscal year 2017 • EIN 37-0694528

Jan 01, 2017 to Dec 31, 2017 • Filed on Apr 25, 2018

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

43rd percentile

0.87x

Higher debt load relative to assets than 43% of similar nonprofits.

2017 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2017

Liabilities / Revenue

32nd percentile

17.30x

Higher debt load relative to revenue than 32% of similar nonprofits.

2017 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2017

Net Margin

1st percentile

-27%

Higher net margin than 1% of similar nonprofits.

2017 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2017

Top Officer Pay

26th percentile

$81,016

Higher top officer pay than 26% of similar nonprofits.

Top officer pay equals 6.1% of source-year revenue.

2017 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2017

Asset Growth

9th percentile

-2.6%

Faster asset growth than 9% of similar nonprofits.

2017 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2016 to 2017

Revenue Growth

60th percentile

7.0%

Faster revenue growth than 60% of similar nonprofits.

2017 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets43rd percentile

Assets

Down

$26,410,255

Down $707,837 (-2.6%) from 2016

Net Assets

Down

$3,408,144

Down $356,122 (-9.5%) from 2016

Liabilities

Down

$23,002,111

Down $351,715 (-1.5%) from 2016

Revenue And Expenses
Liabilities / Revenue32nd percentileNet Margin1st percentile

Revenue

Up

$1,329,315

Up $86,497 (+7.0%) from 2016

Expenses

Up

$1,685,437

Up $220,400 (+15%) from 2016

Net Income

Down

-$356,122

Down $133,903 (-60%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth9th 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 2017: $26,410,255Liabilities 2017: $23,002,111Net Assets 2017: $3,408,1442017Assets 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

2017

Assets$26,410,255
Liabilities$23,002,111
Net Assets$3,408,144
Open 2017 Filing

Operations Trend

Revenue Growth60th percentile

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

$4.0M$2.0M$0-$2.0MExpenses 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 2017: $1,329,315Expenses 2017: $1,685,437Net Income 2017: -$356,1222017Revenue 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

2017

Revenue$1,329,315
Expenses$1,685,437
Net Income-$356,122
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Apr 25, 2018
Return Version
2017v2.2
Gross Receipts
$1,329,315
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$13,259,485$11,957,669▼ $1,301,816
Investments in Publicly Traded Securities$8,927,406$8,477,562▼ $449,844
Savings and Temporary Cash Investments$3,416,948$4,503,013▲ $1,086,065
Rtn Earn Endowment Incm Other Fnds$3,764,266$3,408,144▼ $356,122
Cash and Non-Interest-Bearing Accounts$712,994$693,712▼ $19,282
Land, Buildings, and Equipment, Net$463,121$437,446▼ $25,675
Prepaid Expenses and Deferred Charges$49,852$49,226▼ $626
Total Assets$27,118,092$26,410,255▼ $707,837
Other Assets Total$288,286$291,627▲ $3,341
Liabilities
Other Liabilities$23,263,304$22,851,057▼ $412,247
Accounts Payable and Accrued Expenses$90,522$151,054▲ $60,532
Total Liabilities$23,353,826$23,002,111▼ $351,715
Net Assets / Fund Balance
Total Net Assets Fund Balance$3,764,266$3,408,144▼ $356,122
Total Liabilities and Net Assets / Fund Balance$27,118,092$26,410,255▼ $707,837

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$303,573$340,887$644,460
Equipment$36,562$547,992$584,554
Land$97,311-$97,311
Compensation and Service Providers
Top Officer Pay26th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jennifer RogersCEO/treasurerFT$75,062$5,954$81,016

Board Members and Trustees

NameTitle
James McnabbChairperson
Linda TownsendSupervisory Chair
Christine PepmeyerVice-chairperson
Brett StahlDirector
Carol WadeDirector
Greg BaconDirector
Linda LarsonDirector
Rosemary SherwoodSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,147,757
Investment Income
$181,558
Other Revenue
$0
Change in Net Assets
$-356,122
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,287,735
Salaries, Compensation, and Employee Benefits$397,702
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$249,438
Current Officers, Directors, Trustees, and Key Employees---$81,016
Other Expenses---$61,728
Occupancy---$56,207
Information Technology---$54,989
Office Expenses---$51,825
Depreciation Depletion---$40,858
Fees for Services Accounting---$31,605
Other Employee Benefits---$26,892
Payroll Taxes---$25,640
Insurance---$24,763
Fees for Services Other---$17,894
Pension Plan Contributions---$14,716
All Other Expenses---$13,836
Conferences and Meetings---$6,315
Advertising---$6,040
Fees for Service Investment Mgmnt Fees---$5,545
Fees for Services Legal---$60
Interest---$44
Total Functional Expenses$0$0$0$1,685,437
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$22,851,057
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
Randy Mcelwee
Title
President
Phone
3093431777
Signed
2018-04-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Randy Mcelwee
Formed
1947
Legal Domicile
Il
Voting Board Members
9
Independent Board Members
8
Employees
11
Volunteers
8

Preparer

Firm
Lmhn Ltd
Address
900 N Webster St PO Box 87, Taylorville, IL 62568
Preparer
Brent J Lively
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 4

“The credit union voted to decrease the number of directors in their bylaws.”

Form 990, Part IX, Line 24E

“DUES 13219.”

Form 990, Part IX, Line 24E

“MISCELLANEOUS 617.”

Raw XML Appendix345 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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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/ExplanationTxt6THE CREDIT UNION VOTED TO DECREASE THE NUMBER OF DIRECTORS IN THEIR BYLAWS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7DUES 13219.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8MISCELLANEOUS 617.
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 4
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8Form 990, Part IX, Line 24e
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt027118092
IRS990/TotalAssetsEOYAmt026410255
IRS990/TotalAssetsGrp/BOYAmt027118092
IRS990/TotalAssetsGrp/EOYAmt026410255
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt011
IRS990/TotalFunctionalExpensesGrp/TotalAmt01685437
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt023353826
IRS990/TotalLiabilitiesEOYAmt023002111
IRS990/TotalLiabilitiesGrp/BOYAmt023353826
IRS990/TotalLiabilitiesGrp/EOYAmt023002111
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt03764266
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03408144
IRS990/TotalOtherCompensationAmt05954
IRS990/TotalProgramServiceRevenueAmt01147757
IRS990/TotalReportableCompFromOrgAmt075062
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01329315
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01329315
IRS990/TotalVolunteersCnt08
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt027118092
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt026410255
IRS990/TransactionWithControlEntInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0631 N HENDERSON ST
IRS990/USAddress/CityNm0GALESBURG
IRS990/USAddress/StateAbbreviationCd0IL
IRS990/USAddress/ZIPCd061401
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0RANDY MCELWEE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum03093431777
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-04-25
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/FilingSecurityInformation/AtSubmissionCreationDeviceId03F5FDE0FE4BD7BAD4AF29FDF264B2D75A693A7F4
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId09BC8A9ED3246B4657A50282BDD4082D9D5CEA101
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt072.9.116.36
ReturnHeader/FilingSecurityInformation/IPDt02018-05-08
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0PD
ReturnHeader/FilingSecurityInformation/IPTm004:48:22
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/PreparationDt02018-05-08
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BRENT J LIVELY
ReturnHeader/ReturnTs02018-05-08T04:51:23-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$26,410,255
Liabilities
$23,002,111
Net assets
$3,408,144
Revenue
$1,329,315
Expenses
$1,685,437
Net income
-$356,122
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
2017Detailed filing. Detailed filing data is available for this year.$26.4$23.0$3.41$1.33$1.69$0.36
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