Civic Intelligence

Area Educational Credit Union

990 • Fiscal year 2017 • EIN 37-0902576

Jan 01, 2017 to Dec 31, 2017 • Filed on May 08, 2018

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.

2017 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2017

Liabilities / Revenue

94th percentile

35.75x

Higher debt load relative to revenue than 94% of similar nonprofits.

2017 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2017

Net Margin

87th percentile

18%

Higher net margin than 87% of similar nonprofits.

2017 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2017

Top Officer Pay

91st percentile

$114,340

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 21.2% of source-year revenue.

2017 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2017

Asset Growth

52nd percentile

1.5%

Faster asset growth than 52% of similar nonprofits.

2017 filings • 501(c)14 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Revenue Growth

31st percentile

1.3%

Faster revenue growth than 31% of similar nonprofits.

2017 filings • 501(c)14 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets18th percentile

Assets

Up

$24,798,202

Up $675,842 (+2.8%) from 2015

Net Assets

Up

$5,485,365

Up $197,100 (+3.7%) from 2015

Liabilities

Up

$19,312,837

Up $478,742 (+2.5%) from 2015

Revenue And Expenses
Liabilities / Revenue94th percentileNet Margin87th percentile

Revenue

Up

$540,152

Up $43,323 (+8.7%) from 2015

Expenses

Up

$441,259

Up $54,471 (+14%) from 2015

Net Income

Down

$98,893

Down $11,148 (-10%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth52nd 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

2017

Assets$24,798,202
Liabilities$19,312,837
Net Assets$5,485,365
Open 2017 Filing

Operations Trend

Revenue Growth31st 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

2017

Revenue$540,152
Expenses$441,259
Net Income$98,893
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
May 8, 2018
Return Version
2017v2.3
Gross Receipts
$540,152
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$18,131,955$17,754,101▼ $377,854
Other Notes and Loans Receivable, Net$6,134,745$6,876,699▲ $741,954
Rtn Earn Endowment Incm Other Fnds$5,386,472$5,485,365▲ $98,893
Cash and Non-Interest-Bearing Accounts$101,811$97,671▼ $4,140
Land, Buildings, and Equipment, Net$45,664$40,361▼ $5,303
Prepaid Expenses and Deferred Charges$22,152$29,370▲ $7,218
Total Assets$24,436,327$24,798,202▲ $361,875
Liabilities
Other Liabilities$19,030,307$19,292,944▲ $262,637
Accounts Payable and Accrued Expenses$19,548$19,893▲ $345
Total Liabilities$19,049,855$19,312,837▲ $262,982
Net Assets / Fund Balance
Total Net Assets Fund Balance$5,386,472$5,485,365▲ $98,893
Total Liabilities and Net Assets / Fund Balance$24,436,327$24,798,202▲ $361,875

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$40,361$104,332$144,693
Compensation and Service Providers
Top Officer Pay91st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Kerry FearnPresidentFT$90,460$23,880$114,340

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
$308,259
Investment Income
$231,893
Other Revenue
$0
Change in Net Assets
$98,893
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$232,226
Other Expenses$209,033
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---$114,340
Other Salaries and Wages---$94,018
Information Technology---$36,796
Office Expenses---$24,472
Payroll Taxes---$16,488
Occupancy---$15,089
Insurance---$12,824
Fees for Services Accounting---$9,760
Fees for Services Legal---$7,252
Conferences and Meetings---$6,831
Pension Plan Contributions---$6,675
Depreciation Depletion---$5,114
Advertising---$4,298
Travel---$1,500
Other Employee Benefits---$705
Other Expenses---$-15,767
Total Functional Expenses$0$0$0$441,259
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$150
Total Exempt Function Spending$150

Section 527 Organizations

OrganizationLocationAmount
36-3092340Naperville, IL$150
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Savings of Members$19,292,944
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
No
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, 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 review and approval prior to filing the 990.”

Form 990, Page 6, Part VI, Line 12C

“The board of directors annually reviews the enforcement of conflict policy and monitors compliance.”

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
2018-05-08

Organization Details

Principal Officer
Kerry Fearn
Formed
1960
Legal Domicile
Il
Voting Board Members
11
Independent Board Members
10
Employees
8
Volunteers
11
Raw XML Appendix357 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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IRS990ScheduleC/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION'S ONLY POLITICAL ACTIVITY IS THE CONTRIBUTION TO CREDIT UNION POLITICAL ACTION COUNCIL THAT IS REPORTED IN PARTS I-A AND I-C OF THIS SCHEDULE C.
IRS990ScheduleC/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE C, PART I-A, LINE 1
IRS990ScheduleC/TotalExemptFunctionExpendAmt0150
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt040361
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0104332
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0144693
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt019292944
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SAVINGS OF MEMBERS
IRS990ScheduleD/TotalBookValueLandBuildingsAmt040361
IRS990ScheduleD/TotalLiabilityAmt019292944
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE AREA EDUCATIONAL CREDIT UNION IS ORGANIZED WITH MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE AREA EDUCATIONAL CREDIT UNION HAS MEMBERS WHO MAY ELECT MEMBERS OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2COPY OF 990 IS PROVIDED TO THE BOARD OF DIRECTORS FOR REVIEW AND APPROVAL PRIOR TO FILING THE 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD OF DIRECTORS ANNUALLY REVIEWS THE ENFORCEMENT OF CONFLICT POLICY AND MONITORS COMPLIANCE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
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/TotalAssetsBOYAmt024436327
IRS990/TotalAssetsEOYAmt024798202
IRS990/TotalAssetsGrp/BOYAmt024436327
IRS990/TotalAssetsGrp/EOYAmt024798202
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt08
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0441259
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt019049855
IRS990/TotalLiabilitiesEOYAmt019312837
IRS990/TotalLiabilitiesGrp/BOYAmt019049855
IRS990/TotalLiabilitiesGrp/EOYAmt019312837
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt05386472
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt05485365
IRS990/TotalOtherCompensationAmt023880
IRS990/TotalProgramServiceRevenueAmt0308259
IRS990/TotalReportableCompFromOrgAmt090460
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0540152
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0540152
IRS990/TotalVolunteersCnt011
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt024436327
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt024798202
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/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/PersonNm0KERRY FEARN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02172347817
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-05-08
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/FilingSecurityInformation/AtSubmissionCreationDeviceId071EA56A827FE039AE7E042163179B3AC61212D80
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId071EA56A827FE039AE7E042163179B3AC61212D80
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0208.124.118.248
ReturnHeader/FilingSecurityInformation/IPDt02018-05-08
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm011:51:04
ReturnHeader/ReturnTs02018-05-08T11:51:04-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$24,798,202
Liabilities
$19,312,837
Net assets
$5,485,365
Revenue
$540,152
Expenses
$441,259
Net income
$98,893
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
2017Detailed filing. Detailed filing data is available for this year.$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