Civic Intelligence

Area Educational Credit Union

990 • Fiscal year 2018 • EIN 37-0902576

Jan 01, 2018 to Dec 31, 2018 • Filed on May 07, 2019

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

10th percentile

0.78x

Higher debt load relative to assets than 10% of similar nonprofits.

2018 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2018

Liabilities / Revenue

96th percentile

29.77x

Higher debt load relative to revenue than 96% of similar nonprofits.

2018 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2018

Net Margin

55th percentile

13%

Higher net margin than 55% of similar nonprofits.

2018 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2018

Top Officer Pay

67th percentile

$119,156

Higher top officer pay than 67% of similar nonprofits.

Top officer pay equals 18.2% of source-year revenue.

2018 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2018

Asset Growth

55th percentile

1.1%

Faster asset growth than 55% of similar nonprofits.

2018 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2017 to 2018

Revenue Growth

96th percentile

21%

Faster revenue growth than 96% of similar nonprofits.

2018 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets10th percentile

Assets

Up

$25,082,585

Up $284,383 (+1.1%) from 2017

Net Assets

Up

$5,573,762

Up $88,397 (+1.6%) from 2017

Liabilities

Up

$19,508,823

Up $195,986 (+1.0%) from 2017

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin55th percentile

Revenue

Up

$655,418

Up $115,266 (+21%) from 2017

Expenses

Up

$567,021

Up $125,762 (+29%) from 2017

Net Income

Down

$88,397

Down $10,496 (-11%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth55th 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

2018

Assets$25,082,585
Liabilities$19,508,823
Net Assets$5,573,762
Open 2018 Filing

Operations Trend

Revenue Growth96th 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

2018

Revenue$655,418
Expenses$567,021
Net Income$88,397
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
May 7, 2019
Return Version
2018v3.1
Gross Receipts
$655,418
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$17,754,101$17,026,157▼ $727,944
Other Notes and Loans Receivable, Net$6,876,699$7,794,505▲ $917,806
Rtn Earn Endowment Incm Other Fnds$5,485,365$5,573,762▲ $88,397
Land, Buildings, and Equipment, Net$40,361$122,230▲ $81,869
Cash and Non-Interest-Bearing Accounts$97,671$102,021▲ $4,350
Prepaid Expenses and Deferred Charges$29,370$37,672▲ $8,302
Total Assets$24,798,202$25,082,585▲ $284,383
Liabilities
Other Liabilities$19,292,944$19,485,422▲ $192,478
Accounts Payable and Accrued Expenses$19,893$23,401▲ $3,508
Total Liabilities$19,312,837$19,508,823▲ $195,986
Net Assets / Fund Balance
Total Net Assets Fund Balance$5,485,365$5,573,762▲ $88,397
Total Liabilities and Net Assets / Fund Balance$24,798,202$25,082,585▲ $284,383

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$122,230$110,016$232,246
Compensation and Service Providers
Top Officer Pay67th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Kerry FearnPresidentFT$93,836$25,320$119,156

Board Members and Trustees

NameTitle
Mr Brad OsborneDirector
Mr J Michael CoffmanDirector
Mr John M SwickDirector
Mr Kyle PerryDirector
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
$330,813
Investment Income
$308,905
Other Revenue
$15,700
Change in Net Assets
$88,397
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$312,026
Salaries, Compensation, and Employee Benefits$254,995
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---$119,156
Other Salaries and Wages---$108,805
Information Technology---$44,051
Office Expenses---$28,358
Occupancy---$18,061
Payroll Taxes---$18,027
Insurance---$12,665
Conferences and Meetings---$10,577
Fees for Services Accounting---$10,500
Other Expenses---$10,458
Pension Plan Contributions---$8,470
Fees for Services Legal---$7,045
Depreciation Depletion---$5,684
Advertising---$5,590
Travel---$1,500
Other Employee Benefits---$537
Total Functional Expenses$0$0$0$567,021
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$100
Total Exempt Function Spending$100

Section 527 Organizations

OrganizationLocationAmount
36-3092340Naperville, IL$100
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Savings of Members$19,485,422
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
2019-05-07

Organization Details

Principal Officer
Kerry Fearn
Formed
1960
Legal Domicile
Il
Voting Board Members
11
Independent Board Members
10
Employees
7
Volunteers
11
Raw XML Appendix363 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/Section527PoliticalOrgGrp/USAddress/ZIPCd0605667107
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/TotalExemptFunctionExpendAmt0100
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0122230
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0110016
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0232246
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt019485422
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SAVINGS OF MEMBERS
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0122230
IRS990ScheduleD/TotalLiabilityAmt019485422
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/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt024798202
IRS990/TotalAssetsEOYAmt025082585
IRS990/TotalAssetsGrp/BOYAmt024798202
IRS990/TotalAssetsGrp/EOYAmt025082585
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt07
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0567021
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt019312837
IRS990/TotalLiabilitiesEOYAmt019508823
IRS990/TotalLiabilitiesGrp/BOYAmt019312837
IRS990/TotalLiabilitiesGrp/EOYAmt019508823
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt05485365
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt05573762
IRS990/TotalOtherCompensationAmt025320
IRS990/TotalProgramServiceRevenueAmt0330813
IRS990/TotalReportableCompFromOrgAmt093836
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0655418
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0655418
IRS990/TotalVolunteersCnt011
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt024798202
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt025082585
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/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/PersonNm0KERRY FEARN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02172347817
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-05-07
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/AtSubmissionCreationDeviceId0CC685AAE6FBA2E1FD3C40085F6D7E85C55B67097
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId071EA56A827FE039AE7E042163179B3AC61212D80
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0208.124.118.248
ReturnHeader/FilingSecurityInformation/IPDt02019-05-07
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm013:18:25
ReturnHeader/ReturnTs02019-05-07T13:18:25-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-01-01
ReturnHeader/TaxPeriodEndDt02018-12-31
ReturnHeader/TaxYr02018

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$25,082,585
Liabilities
$19,508,823
Net assets
$5,573,762
Revenue
$655,418
Expenses
$567,021
Net income
$88,397
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
2018Detailed filing. Detailed filing data is available for this year.$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