Civic Intelligence

Laclede Community Credit Union

EIN 37-0795037 • 501(c)14

View Organization Page

Profile

To provide credit union services for residents of madison, jersey, macoupin, greene, and calhoun counties

3401 East Broadway62002

www.lacledecu.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

95th percentile

0.93x

Higher debt load relative to assets than 95% of similar nonprofits.

501(c)14 • $50M-$100M nonprofits • Source year 2013

Liabilities / Revenue

75th percentile

20.32x

Higher debt load relative to revenue than 75% of similar nonprofits.

501(c)14 • $50M-$100M nonprofits • Source year 2013

Net Margin

8th percentile

-5.5%

Higher net margin than 8% of similar nonprofits.

501(c)14 • $50M-$100M nonprofits • Source year 2013

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

15th percentile

-3.6%

Faster asset growth than 15% of similar nonprofits.

501(c)14 • $50M-$100M nonprofits • Annualized from 2012 to 2013

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2013

Balance Sheet
Liabilities / Assets95th percentile

Assets

Down

$63,400,189

Down $2,398,145 (-3.6%) from 2012

Liabilities

Down

$59,046,696

Down $1,990,007 (-3.3%) from 2012

Net Assets

Down

$4,353,493

Down $408,138 (-8.6%) from 2012

Operations
Liabilities / Revenue75th percentileNet Margin8th percentile

Revenue

$2,905,277

No earlier filing loaded for comparison.

Expenses

Down

$3,066,321

Down $274,586 (-8.2%) from 2012

Net Income

-$161,044

No earlier filing loaded for comparison.

Trend Graphs

Balance Sheet Trend

Asset Growth15th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$80M$60M$40M$20M$0Assets 2010: $65,992,935Liabilities 2010: $61,836,891Net Assets 2010: $4,156,0442010Assets 2011: $64,275,871Liabilities 2011: $59,686,984Net Assets 2011: $4,588,8872011Assets 2012: $65,798,334Liabilities 2012: $61,036,703Net Assets 2012: $4,761,6312012Assets 2013: $63,400,189Liabilities 2013: $59,046,696Net Assets 2013: $4,353,4932013

Highlighted filing

2013

Assets$63,400,189
Liabilities$59,046,696
Net Assets$4,353,493
Open 2013 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income by year, with the latest filing highlighted.

$4.0M$2.0M$0-$2.0MExpenses 2010: $3,962,2132010Expenses 2011: $3,475,2692011Expenses 2012: $3,340,9072012Revenue 2013: $2,905,277Expenses 2013: $3,066,321Net Income 2013: -$161,0442013

Highlighted filing

2013

Revenue$2,905,277
Expenses$3,066,321
Net Income-$161,044
Open 2013 Filing

Filings

Most recent year

2013 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$63,400,189
Liabilities
$59,046,696
Net assets
$4,353,493
Revenue
$2,905,277
Expenses
$3,066,321
Net income
-$161,044
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2013Detailed filing. Detailed filing data is available for this year.$63.4$59.0$4.35$2.91$3.07$0.16
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$65.8$61.0$4.76$3.34
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$64.3$59.7$4.59$3.48
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$66.0$61.8$4.16$3.96
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
May 6, 2014
Return Version
2013v3.1
Gross Receipts
$4,076,992
Mission and Program Overview

Mission

To provide credit union services for residents of madison, jersey, macoupin, greene, and calhoun counties

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$31,479,063$31,242,825▼ $236,238
Savings and Temporary Cash Investments$25,175,396$22,247,289▼ $2,928,107
Investments in Publicly Traded Securities$4,528,074$5,567,171▲ $1,039,097
Rtn Earn Endowment Incm Other Fnds$4,761,638$4,353,493▼ $408,145
Land, Buildings, and Equipment, Net$2,583,674$2,198,597▼ $385,077
Cash and Non-Interest-Bearing Accounts$1,030,206$1,246,688▲ $216,482
Accounts Receivable$231,330$151,398▼ $79,932
Prepaid Expenses and Deferred Charges$47,942$82,869▲ $34,927
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$65,877,699$63,400,189▼ $2,477,510
Other Assets Total$802,014$663,352▼ $138,662
Liabilities
Other Liabilities$60,689,409$58,702,824▼ $1,986,585
Accounts Payable and Accrued Expenses$340,267$275,582▼ $64,685
Escrow Account Liability$86,385$68,290▼ $18,095
Total Liabilities$61,116,061$59,046,696▼ $2,069,365
Net Assets / Fund Balance
Total Net Assets Fund Balance$4,761,638$4,353,493▼ $408,145
Total Liabilities and Net Assets / Fund Balance$65,877,699$63,400,189▼ $2,477,510

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,365,696$773,112-
Other Land Buildings$405,913$402,040-
Land$424,075--
Equipment$2,913$3,810-
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseOtherTotal
Perry WithersPresidentFT$112,000$4,204$116,204

Board Members and Trustees

NameTitle
Hank VizeChairman
Gerald BourlandVice Chairman
Dave SmithDirector
ROD O'DELLDirector
Tim BertelsDirector
Jeff MullSecretary
Bill MeyersTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,577,819
Investment Income
$281,978
Other Revenue
$45,480
Change in Net Assets
$-161,044

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,905,277
Total Revenue per Audited Statements
$2,905,277
Total Revenue per Form 990
$2,905,277
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,620,890
Salaries, Compensation, and Employee Benefits$1,445,431
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$968,516
Office Expenses---$383,193
Occupancy---$378,838
Other Employee Benefits---$219,346
Information Technology---$204,888
Current Officers, Directors, Trustees, and Key Employees---$116,204
Payroll Taxes---$104,373
All Other Expenses---$66,528
Other Expenses---$49,157
Fees for Services Legal---$43,802
Pension Plan Contributions---$36,992
Advertising---$32,682
Fees for Services Other---$27,521
Fees for Services Accounting---$20,623
Conferences and Meetings---$15,561
Travel---$9,077
Interest---$455
Total Functional Expenses$0$0$0$3,066,321

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,066,321
Total Expenses per Audited Statements$3,066,321
Total Expenses per Form 990$3,066,321
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Member Shares$58,702,824
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
Yes
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 6: Explanation of Classes of Members or Shareholder

“All persons with share accounts are members.”

Form 990, Part VI, Line 11B: Form 990 Review Process

“The credit union's full board of directors reveiw the form 990 and make any inquiries to management or the prepares before the form is approved and filed with the internal revenue service.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“The board of directors has developed an ethics policy which addresses conflicts of interest and sets the credit union's policy for its employees and directors. The ethics policy is reveiwed and approved annually by the board of directors. Within the policy it states that potential conflicts of interest are to be reported to management or the board. Board members abstain from voting on issues where there is a potential for a conflict of interest. The ethics policy is signed by all personnel when hired and when changes or updates have been made.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“The board of directors determines and approves all raises at its discretion based on their employee evaluations. There are four directors on the personnel committee with primary responsibility for these tasks. Reference materials from cuna services are utilized to view comparable salaries.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“The credit union provides its governing documents, conflict of interest policy and financial statements to anyone who makes a formal request at the main office located at 3401 east broadway, alton, il 62002. A copy of the form 990 may also be obtained from www.guidestar.com”

Filing and Contact Details

Filer

EIN
37-0795037
Phone
6184652504

Signing Officer

Name
Perry Withers
Title
President
Signed
2014-05-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Perry Withers
Formed
1940
Legal Domicile
Il
Voting Board Members
7
Independent Board Members
7
Employees
37

Preparer

Preparer
Steven C Pembrook
Phone
6184654288
Supplemental Narrative

Financial Statement Notes

Part IV, Line 2B: Explanation of escrow account liability

“Escrow funds held for mortgage loan accounts”

Part X : FIN48 Footnote

“Accounting Standards Codification Topic 740 prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. Topic 740 developed a two-step process to evaluate a tax position and also provides guidance on de-recognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. The Credit Union has not recorded a reserve for any tax positions for which the ultimate deductibility is highly certain but for which there is uncertainty about the timing of such deductibility. Management believes, the Credit Union files tax returns in all appropriate jurisdictions. The open tax years are those years ended December 31, 2010 through December 31, 2013. The 2013 tax return has not been filed as of the date of this report. As of December 31, 2013, the Credit Union has no recorded liability for unrecognized tax benefits.The Credit Union recognizes interest and penalties related to uncertain tax positions as income tax expense as incurred. No such expense was recognized for the year ended December 31, 2013.”

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ESCROW FUNDS HELD FOR MORTGAGE LOAN ACCOUNTS
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1Accounting Standards Codification Topic 740 prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. Topic 740 developed a two-step process to evaluate a tax position and also provides guidance on de-recognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. The Credit Union has not recorded a reserve for any tax positions for which the ultimate deductibility is highly certain but for which there is uncertainty about the timing of such deductibility. Management believes, the Credit Union files tax returns in all appropriate jurisdictions. The open tax years are those years ended December 31, 2010 through December 31, 2013. The 2013 tax return has not been filed as of the date of this report. As of December 31, 2013, the Credit Union has no recorded liability for unrecognized tax benefits.The Credit Union recognizes interest and penalties related to uncertain tax positions as income tax expense as incurred. No such expense was recognized for the year ended December 31, 2013.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part IV, Line 2b: Explanation of escrow account liability
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part X : FIN48 Footnote
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt36307
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0HANK VIZE
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm1TIM BERTELS
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm2JEFF MULL
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm3BILL MEYERS
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm4HANK VIZE
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm5TIM BERTELS
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0DIRECTOR
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt1DIRECTOR
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt2DIRECTOR
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt3DIRECTOR
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt4DIRECTOR
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ALL PERSONS WITH SHARE ACCOUNTS ARE MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CREDIT UNION'S FULL BOARD OF DIRECTORS REVEIW THE FORM 990 AND MAKE ANY INQUIRIES TO MANAGEMENT OR THE PREPARES BEFORE THE FORM IS APPROVED AND FILED WITH THE INTERNAL REVENUE SERVICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD OF DIRECTORS HAS DEVELOPED AN ETHICS POLICY WHICH ADDRESSES CONFLICTS OF INTEREST AND SETS THE CREDIT UNION'S POLICY FOR ITS EMPLOYEES AND DIRECTORS. THE ETHICS POLICY IS REVEIWED AND APPROVED ANNUALLY BY THE BOARD OF DIRECTORS. WITHIN THE POLICY IT STATES THAT POTENTIAL CONFLICTS OF INTEREST ARE TO BE REPORTED TO MANAGEMENT OR THE BOARD. BOARD MEMBERS ABSTAIN FROM VOTING ON ISSUES WHERE THERE IS A POTENTIAL FOR A CONFLICT OF INTEREST. THE ETHICS POLICY IS SIGNED BY ALL PERSONNEL WHEN HIRED AND WHEN CHANGES OR UPDATES HAVE BEEN MADE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD OF DIRECTORS DETERMINES AND APPROVES ALL RAISES AT ITS DISCRETION BASED ON THEIR EMPLOYEE EVALUATIONS. THERE ARE FOUR DIRECTORS ON THE PERSONNEL COMMITTEE WITH PRIMARY RESPONSIBILITY FOR THESE TASKS. REFERENCE MATERIALS FROM CUNA SERVICES ARE UTILIZED TO VIEW COMPARABLE SALARIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE CREDIT UNION PROVIDES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS TO ANYONE WHO MAKES A FORMAL REQUEST AT THE MAIN OFFICE LOCATED AT 3401 EAST BROADWAY, ALTON, IL 62002. A COPY OF THE FORM 990 MAY ALSO BE OBTAINED FROM WWW.GUIDESTAR.COM
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false

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