Civic Intelligence

Gale Credit Union

990 • Fiscal year 2018 • EIN 37-0694528

Jan 01, 2018 to Dec 31, 2018 • Filed on Apr 30, 2019

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

46th percentile

0.87x

Higher debt load relative to assets than 46% of similar nonprofits.

2018 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2018

Liabilities / Revenue

45th percentile

17.77x

Higher debt load relative to revenue than 45% of similar nonprofits.

2018 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2018

Net Margin

17th percentile

3.0%

Higher net margin than 17% of similar nonprofits.

2018 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2018

Top Officer Pay

43rd percentile

$98,597

Higher top officer pay than 43% of similar nonprofits.

Top officer pay equals 7.8% of source-year revenue.

2018 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2018

Asset Growth

25th percentile

-2.1%

Faster asset growth than 25% of similar nonprofits.

2018 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2017 to 2018

Revenue Growth

2nd percentile

-5.1%

Faster revenue growth than 2% of similar nonprofits.

2018 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets46th percentile

Assets

Down

$25,859,159

Down $1,258,933 (-4.6%) from 2016

Net Assets

Down

$3,446,232

Down $318,034 (-8.4%) from 2016

Liabilities

Down

$22,412,927

Down $940,899 (-4.0%) from 2016

Revenue And Expenses
Liabilities / Revenue45th percentileNet Margin17th percentile

Revenue

Up

$1,261,417

Up $18,599 (+1.5%) from 2016

Expenses

Down

$1,223,323

Down $241,714 (-16%) from 2016

Net Income

Up

$38,094

Up $260,313 (+117%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth25th 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

2018

Assets$25,859,159
Liabilities$22,412,927
Net Assets$3,446,232
Open 2018 Filing

Operations Trend

Revenue Growth2nd 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

2018

Revenue$1,261,417
Expenses$1,223,323
Net Income$38,094
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Apr 30, 2019
Return Version
2018v3.1
Gross Receipts
$1,261,417
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$11,957,669$11,494,295▼ $463,374
Savings and Temporary Cash Investments$4,503,013$7,641,689▲ $3,138,676
Investments in Publicly Traded Securities$8,477,562$5,521,562▼ $2,956,000
Rtn Earn Endowment Incm Other Fnds$3,408,144$3,446,232▲ $38,088
Land, Buildings, and Equipment, Net$437,446$462,830▲ $25,384
Cash and Non-Interest-Bearing Accounts$693,712$432,926▼ $260,786
Prepaid Expenses and Deferred Charges$49,226$17,417▼ $31,809
Total Assets$26,410,255$25,859,159▼ $551,096
Other Assets Total$291,627$288,440▼ $3,187
Liabilities
Other Liabilities$22,851,057$22,347,371▼ $503,686
Accounts Payable and Accrued Expenses$151,054$65,556▼ $85,498
Total Liabilities$23,002,111$22,412,927▼ $589,184
Net Assets / Fund Balance
Total Net Assets Fund Balance$3,408,144$3,446,232▲ $38,088
Total Liabilities and Net Assets / Fund Balance$26,410,255$25,859,159▼ $551,096

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$306,453$363,677$670,130
Equipment$59,066$561,832$620,898
Land$97,311-$97,311
Compensation and Service Providers
Top Officer Pay43rd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Randy D McelweeCEO/treasurerFT$90,781$7,816$98,597

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
$1,026,235
Investment Income
$235,182
Other Revenue
$0
Change in Net Assets
$38,094
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$796,689
Salaries, Compensation, and Employee Benefits$426,634
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$247,035
Current Officers, Directors, Trustees, and Key Employees$0$0$0$98,597
Information Technology$0$0$0$65,050
Other Expenses$0$0$0$62,217
Office Expenses$0$0$0$57,404
Occupancy$0$0$0$53,508
Other Employee Benefits$0$0$0$37,545
Depreciation Depletion$0$0$0$36,630
Insurance$0$0$0$32,359
Fees for Services Accounting$0$0$0$29,978
Payroll Taxes$0$0$0$26,024
Pension Plan Contributions$0$0$0$17,433
Fees for Services Other$0$0$0$17,046
Advertising$0$0$0$12,251
Fees for Service Investment Mgmnt Fees$0$0$0$7,437
Conferences and Meetings$0$0$0$5,399
Fees for Services Legal$0$0$0$5,000
Interest$0$0$0$594
All Other Expenses$0$0$0$539
Total Functional Expenses$0$0$0$1,223,323
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
Member Share Accounts$22,347,371
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
No
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
2019-04-30
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.”

Form 990, Part IX, Line 24E

“MISCELLANEOUS 539.”

Raw XML AppendixShowing 400 of 420 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/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt00
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt00
IRS990/OtherSalariesAndWagesGrp/TotalAmt0247035
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt011957669
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt011494295
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/FundraisingAmt00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt00
IRS990/PayrollTaxesGrp/ProgramServicesAmt00
IRS990/PayrollTaxesGrp/TotalAmt026024
IRS990/PensionPlanContributionsGrp/FundraisingAmt00
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt00
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt017433
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt049226
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt017417
IRS990/PrincipalOfficerNm0RANDY MCELWEE
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0522130
IRS990/ProgramServiceRevenueGrp/BusinessCd1522130
IRS990/ProgramServiceRevenueGrp/Desc0LOAN INTEREST
IRS990/ProgramServiceRevenueGrp/Desc1FEES AND CHARGES
IRS990/ProgramServiceRevenueGrp/ExclusionAmt00
IRS990/ProgramServiceRevenueGrp/ExclusionAmt10
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0740907
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1285328
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt10
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYInvestmentIncomeAmt0181558
IRS990/PYOtherExpensesAmt01287735
IRS990/PYProgramServiceRevenueAmt01147757
IRS990/PYRevenuesLessExpensesAmt0-356122
IRS990/PYSalariesCompEmpBnftPaidAmt0397702
IRS990/PYTotalExpensesAmt01685437
IRS990/PYTotalRevenueAmt01329315
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt038094
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt03408144
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt03446232
IRS990/SavingsAndTempCashInvstGrp/BOYAmt04503013
IRS990/SavingsAndTempCashInvstGrp/EOYAmt07641689
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0306453
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0363677
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0670130
IRS990ScheduleD/EquipmentGrp/BookValueAmt059066
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0561832
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0620898
IRS990ScheduleD/LandGrp/BookValueAmt097311
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt097311
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt022347371
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MEMBER SHARE ACCOUNTS
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0462830
IRS990ScheduleD/TotalLiabilityAmt022347371
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/ExplanationTxt6MISCELLANEOUS 539.
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/FormAndLineReferenceDesc6Form 990, Part IX, Line 24e
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt026410255
IRS990/TotalAssetsEOYAmt025859159
IRS990/TotalAssetsGrp/BOYAmt026410255
IRS990/TotalAssetsGrp/EOYAmt025859159
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt011
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt01223323
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt023002111
IRS990/TotalLiabilitiesEOYAmt022412927
IRS990/TotalLiabilitiesGrp/BOYAmt023002111
IRS990/TotalLiabilitiesGrp/EOYAmt022412927
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt03408144
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03446232
IRS990/TotalOtherCompensationAmt07816
IRS990/TotalProgramServiceRevenueAmt01026235
IRS990/TotalReportableCompFromOrgAmt090781
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01261417
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01261417
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt08
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt026410255
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt025859159
IRS990/TotReportableCompRltdOrgAmt00
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/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0RANDY MCELWEE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum03093431777
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-04-30
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

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$25,859,159
Liabilities
$22,412,927
Net assets
$3,446,232
Revenue
$1,261,417
Expenses
$1,223,323
Net income
$38,094
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
2018Detailed filing. Detailed filing data is available for this year.$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