Civic Intelligence

Area Educational Credit Union

990 • Fiscal year 2013 • EIN 37-0902576

Jan 01, 2013 to Dec 31, 2013 • Filed on May 13, 2015

Organization ProfileWWW.AECU.COOP
812 Charleston Ave61938

(217) 234-7817

Siviq Scores

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

Liabilities / Assets

18th percentile

0.78x

Higher debt load relative to assets than 18% of similar nonprofits.

2013 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2013

Liabilities / Revenue

98th percentile

40.88x

Higher debt load relative to revenue than 98% of similar nonprofits.

2013 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2013

Net Margin

75th percentile

11%

Higher net margin than 75% of similar nonprofits.

2013 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2013

Top Officer Pay

87th percentile

$100,999

Higher top officer pay than 87% of similar nonprofits.

Top officer pay equals 22.5% of source-year revenue.

2013 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2013

Asset Growth

34th percentile

-0.3%

Faster asset growth than 34% of similar nonprofits.

2013 filings • 501(c)14 • $10M-$25M 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 / Assets18th percentile

Assets

Down

$23,471,553

Down $80,282 (-0.3%) from 2012

Net Assets

Up

$5,129,314

Up $47,401 (+0.9%) from 2012

Liabilities

Down

$18,342,239

Down $127,683 (-0.7%) from 2012

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin75th percentile

Revenue

$448,706

No earlier filing loaded for comparison.

Expenses

Down

$401,305

Down $35,076 (-8.0%) from 2012

Net Income

$47,401

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth34th percentile

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

$40M$30M$20M$10M$0Assets 2010: $22,496,866Liabilities 2010: $17,511,086Net Assets 2010: $4,985,7802010Assets 2011: $23,390,292Liabilities 2011: $18,356,506Net Assets 2011: $5,033,7862011Assets 2012: $23,551,835Liabilities 2012: $18,469,922Net Assets 2012: $5,081,9132012Assets 2013: $23,471,553Liabilities 2013: $18,342,239Net Assets 2013: $5,129,3142013Assets 2014: $24,087,206Liabilities 2014: $18,908,982Net Assets 2014: $5,178,2242014Assets 2015: $24,122,360Liabilities 2015: $18,834,095Net Assets 2015: $5,288,2652015Assets 2017: $24,798,202Liabilities 2017: $19,312,837Net Assets 2017: $5,485,3652017Assets 2018: $25,082,585Liabilities 2018: $19,508,823Net Assets 2018: $5,573,7622018Assets 2019: $25,032,872Liabilities 2019: $19,310,503Net Assets 2019: $5,722,3692019Assets 2021: $30,341,068Liabilities 2021: $24,525,681Net Assets 2021: $5,815,3872021Assets 2022: $30,694,267Liabilities 2022: $24,742,270Net Assets 2022: $5,951,9972022

Highlighted filing

2013

Assets$23,471,553
Liabilities$18,342,239
Net Assets$5,129,314
Open 2013 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$1.0M$500K$0Expenses 2010: $548,6262010Expenses 2011: $475,8872011Expenses 2012: $436,3812012Revenue 2013: $448,706Expenses 2013: $401,305Net Income 2013: $47,4012013Revenue 2014: $452,992Expenses 2014: $404,082Net Income 2014: $48,9102014Revenue 2015: $496,829Expenses 2015: $386,788Net Income 2015: $110,0412015Revenue 2017: $540,152Expenses 2017: $441,259Net Income 2017: $98,8932017Revenue 2018: $655,418Expenses 2018: $567,021Net Income 2018: $88,3972018Revenue 2019: $776,092Expenses 2019: $627,485Net Income 2019: $148,6072019Revenue 2021: $588,144Expenses 2021: $554,120Net Income 2021: $34,0242021Revenue 2022: $826,149Expenses 2022: $689,539Net Income 2022: $136,6102022

Highlighted filing

2013

Revenue$448,706
Expenses$401,305
Net Income$47,401
Open 2013 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
May 13, 2015
Return Version
2013v3.1
Gross Receipts
$448,706
Mission and Program Overview

Mission

To assist our members in the management of their financial well-being by providing loans, saving accounts and other financial institution services in a friendly and professional manner.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$16,792,798$17,436,791▲ $643,993
Other Notes and Loans Receivable, Net$6,518,315$5,890,052▼ $628,263
Rtn Earn Endowment Incm Other Fnds$5,081,913$5,129,314▲ $47,401
Cash and Non-Interest-Bearing Accounts$180,186$94,498▼ $85,688
Land, Buildings, and Equipment, Net$45,556$41,817▼ $3,739
Prepaid Expenses and Deferred Charges$14,980$8,395▼ $6,585
Total Assets$23,551,835$23,471,553▼ $80,282
Liabilities
Other Liabilities$18,423,032$18,305,801▼ $117,231
Accounts Payable and Accrued Expenses$46,890$36,438▼ $10,452
Total Liabilities$18,469,922$18,342,239▼ $127,683
Net Assets / Fund Balance
Total Net Assets Fund Balance$5,081,913$5,129,314▲ $47,401
Total Liabilities and Net Assets / Fund Balance$23,551,835$23,471,553▼ $80,282

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$41,817$87,812$129,629
Compensation and Service Providers
Top Officer Pay87th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Kerry FearnPresidentFT$83,755$17,244$100,999

Board Members and Trustees

NameTitle
Mr Brad OsborneDirector
Mr Henry BoughDirector
Mr J Michael CoffmanDirector
Mr John M SwickDirector
Mr Richard MercerDirector
Mr W Max JaegerDirector
Mrs Brenda JonesDirector
Mrs Marilyn Kaye HonnDirector
Mrs Paula KearneyDirector
Mrs Sue McdowellDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$351,428
Investment Income
$97,278
Other Revenue
$0
Change in Net Assets
$47,401
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$202,655
Other Expenses$198,650
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees---$101,013
Other Salaries and Wages---$81,070
Insurance---$33,479
Information Technology---$29,901
Office Expenses---$19,999
Occupancy---$14,704
Payroll Taxes---$13,584
Other Expenses---$9,360
Fees for Services Accounting---$8,850
Pension Plan Contributions---$6,522
Advertising---$5,502
Conferences and Meetings---$3,965
Depreciation Depletion---$3,739
Fees for Services Legal---$2,919
Travel---$1,500
Other Employee Benefits---$466
Total Functional Expenses$0$0$0$401,305
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
Savings of Members$18,305,801
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

“The area educational credit union is organized with members.”

Form 990, Page 6, Part VI, Line 7A

“The area educational credit union has members who may elect members of the governing body.”

Form 990, Page 6, Part VI, Line 11B

“Copy of 990 is provided to the board of directors for comment prior to filing the 990.”

Form 990, Page 6, Part VI, Line 19

“The organization makes its governing documents and financial statements available to the public upon request.”

Filing and Contact Details

Filer

EIN
37-0902576
Phone
2172347817

Signing Officer

Name
Kerry Fearn
Title
President
Phone
2172347817
Signed
2015-05-13

Organization Details

Principal Officer
Kerry Fearn President
Formed
1960
Legal Domicile
Il
Voting Board Members
11
Independent Board Members
10
Employees
5
Volunteers
11
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

“Provided ira services to 103 members see descriptions above”

Raw XML Appendix333 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/ExplanationTxt0PROVIDED IRA SERVICES TO 103 MEMBERS SEE DESCRIPTIONS ABOVE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE AREA EDUCATIONAL CREDIT UNION IS ORGANIZED WITH MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE AREA EDUCATIONAL CREDIT UNION HAS MEMBERS WHO MAY ELECT MEMBERS OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COPY OF 990 IS PROVIDED TO THE BOARD OF DIRECTORS FOR COMMENT PRIOR TO FILING THE 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt023551835
IRS990/TotalAssetsEOYAmt023471553
IRS990/TotalAssetsGrp/BOYAmt023551835
IRS990/TotalAssetsGrp/EOYAmt023471553
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt05
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0401305
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt018469922
IRS990/TotalLiabilitiesEOYAmt018342239
IRS990/TotalLiabilitiesGrp/BOYAmt018469922
IRS990/TotalLiabilitiesGrp/EOYAmt018342239
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt05081913
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt05129314
IRS990/TotalOtherCompensationAmt017244
IRS990/TotalProgramServiceRevenueAmt0351428
IRS990/TotalReportableCompFromOrgAmt083755
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0448706
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0448706
IRS990/TotalVolunteersCnt011
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt023551835
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt023471553
IRS990/TravelGrp/TotalAmt01500
IRS990/TypeOfOrganizationOtherInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine10812 CHARLESTON AVE
IRS990/USAddress/City0MATTOON
IRS990/USAddress/State0IL
IRS990/USAddress/ZIPCode061938
IRS990/VotingMembersGoverningBodyCnt011
IRS990/VotingMembersIndependentCnt010
IRS990/WebsiteAddressTxt0WWW.AECU.COOP
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02015-11-30 17:44:51Z
ReturnHeader/BusinessOfficerGrp/PersonNm0KERRY FEARN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02172347817
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-05-13
ReturnHeader/Filer/BusinessName/BusinessNameLine10AREA EDUCATIONAL CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0AREA
ReturnHeader/Filer/EIN0370902576
ReturnHeader/Filer/PhoneNum02172347817
ReturnHeader/Filer/USAddress/AddressLine10812 CHARLESTON AVE
ReturnHeader/Filer/USAddress/City0MATTOON
ReturnHeader/Filer/USAddress/State0IL
ReturnHeader/Filer/USAddress/ZIPCode061938
ReturnHeader/ReturnTs02014-05-13T10:42:36-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-01-01
ReturnHeader/TaxPeriodEndDt02013-12-31
ReturnHeader/TaxYr02013

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$23,471,553
Liabilities
$18,342,239
Net assets
$5,129,314
Revenue
$448,706
Expenses
$401,305
Net income
$47,401
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$30.7$24.7$5.95$0.83$0.69$0.14
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$30.3$24.5$5.82$0.59$0.55$0.03
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$25.0$19.3$5.72$0.78$0.63$0.15
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$25.1$19.5$5.57$0.66$0.57$0.09
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$24.8$19.3$5.49$0.54$0.44$0.10
2015Detailed filing. Detailed filing data is available for this year.$24.1$18.8$5.29$0.50$0.39$0.11
2014Detailed filing. Detailed filing data is available for this year.$24.1$18.9$5.18$0.45$0.40$0.05
2013Detailed filing. Detailed filing data is available for this year.$23.5$18.3$5.13$0.45$0.40$0.05
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$23.6$18.5$5.08$0.44
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$23.4$18.4$5.03$0.48
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$22.5$17.5$4.99$0.55