Civic Intelligence

Scott Credit Union

990 • Fiscal year 2014 • EIN 37-0732817

Jan 01, 2014 to Dec 31, 2014 • Filed on Sep 30, 2015

Organization Profilewww.SCU.org

View Organization Page

101 Credit Union WayEdwardsville, IL 62025

(618) 345-1000

Siviq Scores

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

Liabilities / Assets

2nd percentile

0.06x

Higher debt load relative to assets than 2% of similar nonprofits.

2014 filings • 501(c)14 • $1B+ nonprofits • Source year 2014

Liabilities / Revenue

2nd percentile

1.27x

Higher debt load relative to revenue than 2% of similar nonprofits.

2014 filings • 501(c)14 • $1B+ nonprofits • Source year 2014

Net Margin

2nd percentile

-8.1%

Higher net margin than 2% of similar nonprofits.

2014 filings • 501(c)14 • $1B+ nonprofits • Source year 2014

Top Officer Pay

16th percentile

$470,824

Higher top officer pay than 16% of similar nonprofits.

Top officer pay equals 0.9% of source-year revenue.

2014 filings • 501(c)14 • $1B+ nonprofits • Source year 2014

Asset Growth

87th percentile

12%

Faster asset growth than 87% of similar nonprofits.

2014 filings • 501(c)14 • $1B+ nonprofits • Annualized from 2013 to 2014

Revenue Growth

71st percentile

6.6%

Faster revenue growth than 71% of similar nonprofits.

2014 filings • 501(c)14 • $1B+ nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets2nd percentile

Assets

Up

$1,040,158,460

Up $111,160,002 (+12%) from 2013

Net Assets

Up

$973,905,857

Up $55,162,332 (+6.0%) from 2013

Liabilities

Up

$66,252,603

Up $55,997,670 (+546%) from 2013

Revenue And Expenses
Liabilities / Revenue2nd percentileNet Margin2nd percentile

Revenue

Up

$52,126,205

Up $3,218,243 (+6.6%) from 2013

Expenses

Up

$56,348,837

Up $21,878,006 (+63%) from 2013

Net Income

Down

-$4,222,632

Down $18,659,763 (-129%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth87th percentile

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

$2.0B$1.5B$1.0B$500M$0Assets 2010: $694,237,890Liabilities 2010: $6,718,054Net Assets 2010: $687,519,8362010Assets 2011: $793,719,711Liabilities 2011: $8,818,063Net Assets 2011: $784,901,6482011Assets 2012: $887,522,001Liabilities 2012: $12,850,961Net Assets 2012: $874,671,0402012Assets 2013: $928,998,458Liabilities 2013: $10,254,933Net Assets 2013: $918,743,5252013Assets 2014: $1,040,158,460Liabilities 2014: $66,252,603Net Assets 2014: $973,905,8572014Assets 2015: $1,039,804,748Liabilities 2015: $10,810,943Net Assets 2015: $1,028,993,8052015Assets 2016: $1,092,616,184Liabilities 2016: $15,188,998Net Assets 2016: $1,077,427,1862016Assets 2017: $1,115,637,231Liabilities 2017: $18,648,084Net Assets 2017: $1,096,989,1472017Assets 2018: $1,219,604,280Liabilities 2018: $94,161,603Net Assets 2018: $1,125,442,6772018Assets 2019: $1,268,134,429Liabilities 2019: $55,405,311Net Assets 2019: $1,212,729,1182019Assets 2020: $1,455,808,260Liabilities 2020: $1,322,109,378Net Assets 2020: $133,698,8822020Assets 2021: $1,647,347,103Liabilities 2021: $1,506,326,357Net Assets 2021: $141,020,7462021Assets 2022: $1,751,826,315Liabilities 2022: $1,613,825,374Net Assets 2022: $138,000,9412022Assets 2023: $1,741,583,732Liabilities 2023: $1,597,906,829Net Assets 2023: $143,676,9032023Assets 2024: $1,745,004,988Liabilities 2024: $1,592,503,489Net Assets 2024: $152,501,4992024

Highlighted filing

2014

Assets$1,040,158,460
Liabilities$66,252,603
Net Assets$973,905,857
Open 2014 Filing

Operations Trend

Revenue Growth71st percentile

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

$150M$100M$50M$0-$50MExpenses 2010: $26,801,8492010Expenses 2011: $30,129,0422011Expenses 2012: $32,364,5982012Revenue 2013: $48,907,962Expenses 2013: $34,470,831Net Income 2013: $14,437,1312013Revenue 2014: $52,126,205Expenses 2014: $56,348,837Net Income 2014: -$4,222,6322014Revenue 2015: $52,808,385Expenses 2015: $41,430,913Net Income 2015: $11,377,4722015Revenue 2016: $57,373,351Expenses 2016: $42,689,588Net Income 2016: $14,683,7632016Revenue 2017: $55,518,098Expenses 2017: $45,758,222Net Income 2017: $9,759,8762017Revenue 2018: $64,499,920Expenses 2018: $52,738,224Net Income 2018: $11,761,6962018Revenue 2019: $68,652,150Expenses 2019: $60,320,609Net Income 2019: $8,331,5412019Revenue 2020: $69,277,943Expenses 2020: $64,773,713Net Income 2020: $4,504,2302020Revenue 2021: $74,654,217Expenses 2021: $66,970,715Net Income 2021: $7,683,5022021Revenue 2022: $84,339,279Expenses 2022: $75,829,501Net Income 2022: $8,509,7782022Revenue 2023: $105,927,391Expenses 2023: $96,614,257Net Income 2023: $9,313,1342023Revenue 2024: $120,951,375Expenses 2024: $114,208,098Net Income 2024: $6,743,2772024

Highlighted filing

2014

Revenue$52,126,205
Expenses$56,348,837
Net Income-$4,222,632
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Sep 30, 2015
Return Version
2014v5.0
Gross Receipts
$52,126,205
Mission and Program Overview

Mission

Served members' interests by accepting deposits, granting loans, and investing excess funds in a prudent manner

Balance Sheet Detail
LineBeginningEndChange
Assets
Cap Stk Tr Prin Current Funds$824,422,403$889,903,752▲ $65,481,349
Other Notes and Loans Receivable, Net$772,399,690$858,381,990▲ $85,982,300
Savings and Temporary Cash Investments$87,610,401$111,092,901▲ $23,482,500
Rtn Earn Endowment Incm Other Fnds$94,321,122$84,002,105▼ $10,319,017
Land, Buildings, and Equipment, Net$32,879,656$31,233,213▼ $1,646,443
Cash and Non-Interest-Bearing Accounts$13,944,144$17,455,330▲ $3,511,186
Investments Program Related$8,746,948$8,824,677▲ $77,729
Prepaid Expenses and Deferred Charges$867,313$899,747▲ $32,434
Receivables From Officers Etc$1,223,521$889,203▼ $334,318
Investments in Publicly Traded Securities$1,583,923$766,626▼ $817,297
Accounts Receivable$137,174$29,408▼ $107,766
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Investments Other Securities$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$928,998,458$1,040,158,460▲ $111,160,002
Other Assets Total$9,605,688$10,585,365▲ $979,677
Liabilities
Mortgage Notes Payable Secured by Investment Property$0$55,987,000▲ $55,987,000
Accounts Payable and Accrued Expenses$5,096,330$5,506,420▲ $410,090
Other Liabilities$5,158,603$4,759,183▼ $399,420
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$10,254,933$66,252,603▲ $55,997,670
Net Assets / Fund Balance
Total Net Assets Fund Balance$918,743,525$973,905,857▲ $55,162,332
Total Liabilities and Net Assets / Fund Balance$928,998,458$1,040,158,460▲ $111,160,002

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$20,066,866$7,565,594$27,632,460
Other Land Buildings$3,442,945$10,816,529$14,259,474
Land$7,500,515-$7,500,515
Leasehold Improvements$222,887$434,715$657,602
Compensation and Service Providers
Top Officer Pay16th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Frank M PadakChief Executive OfficerFT$338,000$132,824$470,824
Chris BrownerChief Financial OfficerFT$172,998$42,305$215,303
Steve StrykerChief Operations OfficerFT$168,745$40,508$209,253
Sridhar KondapalliChief Information OfficerFT$168,000$31,838$199,838
Craig BurkhardChief Loan OfficerFT$158,995$39,039$198,034
Adam KoishorChief Marketing OfficerFT$119,279$35,328$154,607
Janice PyszkaVP of Employee Svcs.FT$118,381$34,348$152,729
Dale BeardVP of AuditFT$123,160$25,228$148,388
Brian WaldronVP Consumer LendingFT$122,792$23,588$146,380
Marna AsburyVP MortgageFT$99,621$27,837$127,458
Scott PetersVP of FinanceFT$118,882$7,088$125,970

Board Members and Trustees

NameTitle
Betty L RenthChairman
William P HostetterVice Chairman
Joanne a CardenAssociate Director
Joy L HaywardAssociate Director
Carolyn L ChoateDirector
Dale J HuegenDirector
Sheila M ValloweDirector
Roselyn M AltmanSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$51,812,107
Investment Income
$314,098
Other Revenue
$0
Change in Net Assets
$-4,222,632

Audited Revenue Reconciliation

Revenue per Audited Statements
$52,081,153
Revenue Not Reported on Financial Statements
$45,052
Other Revenue Adjustments
$45,052
Total Revenue per Audited Statements
$52,081,153
Total Revenue per Form 990
$52,126,205
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$43,139,587
Salaries, Compensation, and Employee Benefits$13,209,250
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$7,997,380
Depreciation Depletion---$2,424,549
Current Officers, Directors, Trustees, and Key Employees---$2,148,784
All Other Expenses---$2,045,150
Other Expenses---$1,922,980
Other Employee Benefits---$1,706,346
Occupancy---$1,513,384
Advertising---$1,398,266
Office Expenses---$1,229,054
Payroll Taxes---$881,957
Pension Plan Contributions---$474,783
Fees for Services Other---$212,970
Insurance---$147,643
Conferences and Meetings---$146,741
Fees for Services Accounting---$132,074
Fees for Services Legal---$65,195
Travel---$46,730
Interest---$37,755
Total Functional Expenses$0$0$0$56,348,837

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$62,400,171
Total Expenses per Form 990$56,348,837
Expenses per Audited Statements$56,303,785
Expenses Not Reported on Form 990$6,096,386
Expenses Not Reported on Financial Statements$45,052
Other Expense Adjustments$45,052
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
Yes
Subject to proxy tax
No

Reported Spending and Taxes

Line ItemAmount
Political Expenditures$15,381
Total Exempt Function Spending$15,381

Section 527 Organizations

OrganizationLocationAmount
36-3092340Naperville, IL$15,381
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees$1,223,521$889,203▼ $334,318
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Clearing Account Payables$4,032,469
Unclaimed Checks$369,164
Deferred Compensation (457)$280,373
Deferred-other$77,177
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
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
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B

“The form is reviewed by the ceo of the credit union.”

Part 990, Part VI, Line 15A

“Ceo compensation is determined by the board of directors, who are independent volunteers. Their process includes a review of compensation data for ceo positions at similar entities. Information related to the ceo's compensation is delivered directly to the human resources department by the chairman of the board of directors.”

Form 990, Part VI, Line 15B

“Compensation for the other key officers of the organization is determined by the ceo and the vice president of employee services. They review compensation data for similar positions at similar entities as part of their process.”

Form 990, Part VI, Line 19

“AVAILABLE UPON REQUEST.”

Part VI, Section A, Line 6 & 7A

“All voting on the election of directors shall be by ballot, except when there is no contest--written ballots need not be cast. On elections of directors, every shareholder has the right to vote the number of shares owned by him for as many persons as there are directors to be elected, or to cumulate the shares and give one candidate as many votes as the number of directors multiplied by the number of his shares shall equal; or distribute them on the same principle among as many candidates as he shall desire, except that a member other than a natural person may cast only a single vote through a delegated agent. All elections shall be determined by plurality vote and shall be by ballot except where there is no contest. In case of failure to elect, the meeting shall be adjourned from time to time.”

Filing and Contact Details

Filer

Filer Name
Scott Credit Union
EIN
37-0732817
In Care Of
% SCOTT PETERS
Phone
6183451000
Address
101 Credit Union Way, Edwardsville, IL 62025

Signing Officer

Name
Scott Peters
Title
Vice President of Finance
Phone
6183451000
Signed
2015-09-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Frank Padak
Formed
1943
Legal Domicile
Il
Voting Board Members
7
Independent Board Members
6
Employees
267

Preparer

Firm
Bkd Llp
Address
225 NORTH WATER ST SUITE 400, DECATUR, IL 62523
Preparer
Deborah Watts
Phone
2174292411
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Add: additional capital purchased by members $45,831,349 add: additional capital purchased by non-members $19,650,000 less: dividends paid on shares ($6,096,386) change in net assets = $59,384,963”

Part IV, Line 26 & Schedule L, Part II

“The organization does provide loans to interested persons but the terms were consistent with other member loans. No preferential treatment is given to any interested person. As a result, schedule l is not required to be completed and attached to the form 990.”

Financial Statement Notes

Part XI Line 4B

“Gain on sale of assets = $45,052”

Part XII, Line 2D

“Dividends paid on member share accounts were $6,063,789 and dividends on non-member share accounts were $32,597 for a total of $6,096,386.”

Sch D, Part X

“Management has evaluated their income tax positions under the guidance included in asc 740. Based on their review, management has not identified any material uncertain tax positions to be recorded or disclosed in the financial statements.”

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Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,040,158,460
Liabilities
$66,252,603
Net assets
$973,905,857
Revenue
$52,126,205
Expenses
$56,348,837
Net income
-$4,222,632
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1,745$1,593$153$121$114$6.74
2023Detailed filing. Detailed filing data is available for this year.$1,742$1,598$144$106$96.6$9.31
2022Detailed filing. Detailed filing data is available for this year.$1,752$1,614$138$84.3$75.8$8.51
2021Detailed filing. Detailed filing data is available for this year.$1,647$1,506$141$74.7$67.0$7.68
2020Detailed filing. Detailed filing data is available for this year.$1,456$1,322$134$69.3$64.8$4.50
2019Detailed filing. Detailed filing data is available for this year.$1,268$55.4$1,213$68.7$60.3$8.33
2018Detailed filing. Detailed filing data is available for this year.$1,220$94.2$1,125$64.5$52.7$11.8
2017Detailed filing. Detailed filing data is available for this year.$1,116$18.6$1,097$55.5$45.8$9.76
2016Detailed filing. Detailed filing data is available for this year.$1,093$15.2$1,077$57.4$42.7$14.7
2015Detailed filing. Detailed filing data is available for this year.$1,040$10.8$1,029$52.8$41.4$11.4
2014Detailed filing. Detailed filing data is available for this year.$1,040$66.3$974$52.1$56.3$4.22
2013Detailed filing. Detailed filing data is available for this year.$929$10.3$919$48.9$34.5$14.4
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$888$12.9$875$32.4
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$794$8.82$785$30.1
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$694$6.72$688$26.8
Peer Organizations

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