Civic Intelligence

Area Educational Credit Union

990 • Fiscal year 2015 • EIN 37-0902576

Jan 01, 2015 to Dec 31, 2015 • Filed on May 10, 2016

Organization ProfileWWW.AECU.COOP
812 Charleston AveMattoon, IL 61938

(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.

2015 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2015

Liabilities / Revenue

95th percentile

37.91x

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

2015 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2015

Net Margin

92nd percentile

22%

Higher net margin than 92% of similar nonprofits.

2015 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2015

Top Officer Pay

87th percentile

$106,756

Higher top officer pay than 87% of similar nonprofits.

Top officer pay equals 21.5% of source-year revenue.

2015 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2015

Asset Growth

28th percentile

0.1%

Faster asset growth than 28% of similar nonprofits.

2015 filings • 501(c)14 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Revenue Growth

89th percentile

9.7%

Faster revenue growth than 89% of similar nonprofits.

2015 filings • 501(c)14 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets18th percentile

Assets

Up

$24,122,360

Up $35,154 (+0.1%) from 2014

Net Assets

Up

$5,288,265

Up $110,041 (+2.1%) from 2014

Liabilities

Down

$18,834,095

Down $74,887 (-0.4%) from 2014

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin92nd percentile

Revenue

Up

$496,829

Up $43,837 (+9.7%) from 2014

Expenses

Down

$386,788

Down $17,294 (-4.3%) from 2014

Net Income

Up

$110,041

Up $61,131 (+125%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth28th 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 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

2015

Assets$24,122,360
Liabilities$18,834,095
Net Assets$5,288,265
Open 2015 Filing

Operations Trend

Revenue Growth89th percentile

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 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

2015

Revenue$496,829
Expenses$386,788
Net Income$110,041
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
May 10, 2016
Return Version
2015v2.1
Gross Receipts
$496,829
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$17,757,831$17,794,031▲ $36,200
Other Notes and Loans Receivable, Net$6,058,449$6,136,943▲ $78,494
Rtn Earn Endowment Incm Other Fnds$5,178,224$5,288,265▲ $110,041
Cash and Non-Interest-Bearing Accounts$210,668$136,888▼ $73,780
Land, Buildings, and Equipment, Net$38,078$34,339▼ $3,739
Prepaid Expenses and Deferred Charges$22,180$20,159▼ $2,021
Total Assets$24,087,206$24,122,360▲ $35,154
Liabilities
Other Liabilities$18,892,486$18,828,734▼ $63,752
Accounts Payable and Accrued Expenses$16,496$5,361▼ $11,135
Total Liabilities$18,908,982$18,834,095▼ $74,887
Net Assets / Fund Balance
Total Net Assets Fund Balance$5,178,224$5,288,265▲ $110,041
Total Liabilities and Net Assets / Fund Balance$24,087,206$24,122,360▲ $35,154

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$34,339$95,290$129,629
Compensation and Service Providers
Top Officer Pay87th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Kerry FearnPresidentFT$90,820$15,936$106,756

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
$341,528
Investment Income
$155,301
Other Revenue
$0
Change in Net Assets
$110,041
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$212,310
Other Expenses$174,478
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---$106,756
Other Salaries and Wages---$84,597
Information Technology---$39,452
Office Expenses---$26,762
Payroll Taxes---$14,593
Occupancy---$13,737
Insurance---$12,644
Fees for Services Accounting---$9,200
Pension Plan Contributions---$5,811
Advertising---$5,620
Conferences and Meetings---$5,145
Fees for Services Legal---$4,052
Depreciation Depletion---$3,739
Travel---$1,500
Other Employee Benefits---$553
Other Expenses---$-8,200
Total Functional Expenses$0$0$0$386,788
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$18,828,734
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

Filer Name
Area Educational Credit Union
EIN
37-0902576
Phone
2172347817
Address
812 CHARLESTON AVE, MATTOON, IL 61938

Signing Officer

Name
Kerry Fearn
Title
President
Phone
2172347817
Signed
2016-05-10

Organization Details

Principal Officer
Kerry Fearn
Formed
1960
Legal Domicile
Il
Voting Board Members
11
Independent Board Members
10
Employees
7
Volunteers
11
Supplemental Narrative

Additional Explanations

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

“Provided ira services to 96 members see descriptions above”

Raw XML Appendix337 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 96 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/TotalAssetsBOYAmt024087206
IRS990/TotalAssetsEOYAmt024122360
IRS990/TotalAssetsGrp/BOYAmt024087206
IRS990/TotalAssetsGrp/EOYAmt024122360
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt07
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0386788
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt018908982
IRS990/TotalLiabilitiesEOYAmt018834095
IRS990/TotalLiabilitiesGrp/BOYAmt018908982
IRS990/TotalLiabilitiesGrp/EOYAmt018834095
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt05178224
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt05288265
IRS990/TotalOtherCompensationAmt015936
IRS990/TotalProgramServiceRevenueAmt0341528
IRS990/TotalReportableCompFromOrgAmt090820
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0496829
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0496829
IRS990/TotalVolunteersCnt011
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt024087206
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt024122360
IRS990/TravelGrp/TotalAmt01500
IRS990/TypeOfOrganizationOtherInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0812 CHARLESTON AVE
IRS990/USAddress/CityNm0MATTOON
IRS990/USAddress/StateAbbreviationCd0IL
IRS990/USAddress/ZIPCd061938
IRS990/VotingMembersGoverningBodyCnt011
IRS990/VotingMembersIndependentCnt010
IRS990/WebsiteAddressTxt0WWW.AECU.COOP
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-12-15 16:53:06Z
ReturnHeader/BusinessOfficerGrp/PersonNm0KERRY FEARN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02172347817
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-05-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0AREA EDUCATIONAL CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0AREA
ReturnHeader/Filer/EIN0370902576
ReturnHeader/Filer/PhoneNum02172347817
ReturnHeader/Filer/USAddress/AddressLine1Txt0812 CHARLESTON AVE
ReturnHeader/Filer/USAddress/CityNm0MATTOON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IL
ReturnHeader/Filer/USAddress/ZIPCd061938
ReturnHeader/ReturnTs02016-05-13T12:42:40-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-01-01
ReturnHeader/TaxPeriodEndDt02015-12-31
ReturnHeader/TaxYr02015

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$24,122,360
Liabilities
$18,834,095
Net assets
$5,288,265
Revenue
$496,829
Expenses
$386,788
Net income
$110,041
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
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
Peer Organizations

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