Civic Intelligence

Area Educational Credit Union

990 • Fiscal year 2019 • EIN 37-0902576

Jan 01, 2019 to Dec 31, 2019 • Filed on Jun 22, 2020

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

0.77x

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

2019 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2019

Liabilities / Revenue

89th percentile

24.88x

Higher debt load relative to revenue than 89% of similar nonprofits.

2019 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2019

Net Margin

76th percentile

19%

Higher net margin than 76% of similar nonprofits.

2019 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2019

Top Officer Pay

67th percentile

$122,166

Higher top officer pay than 67% of similar nonprofits.

Top officer pay equals 15.7% of source-year revenue.

2019 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2019

Asset Growth

29th percentile

-0.2%

Faster asset growth than 29% of similar nonprofits.

2019 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2018 to 2019

Revenue Growth

96th percentile

18%

Faster revenue growth than 96% of similar nonprofits.

2019 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets10th percentile

Assets

Down

$25,032,872

Down $49,713 (-0.2%) from 2018

Net Assets

Up

$5,722,369

Up $148,607 (+2.7%) from 2018

Liabilities

Down

$19,310,503

Down $198,320 (-1.0%) from 2018

Revenue And Expenses
Liabilities / Revenue89th percentileNet Margin76th percentile

Revenue

Up

$776,092

Up $120,674 (+18%) from 2018

Expenses

Up

$627,485

Up $60,464 (+11%) from 2018

Net Income

Up

$148,607

Up $60,210 (+68%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth29th 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

2019

Assets$25,032,872
Liabilities$19,310,503
Net Assets$5,722,369
Open 2019 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

2019

Revenue$776,092
Expenses$627,485
Net Income$148,607
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Jun 22, 2020
Return Version
2019v5.0
Gross Receipts
$776,092
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$17,026,157$15,199,280▼ $1,826,877
Other Notes and Loans Receivable, Net$7,794,505$9,553,262▲ $1,758,757
Rtn Earn Endowment Incm Other Fnds$5,573,762$5,722,369▲ $148,607
Land, Buildings, and Equipment, Net$122,230$144,501▲ $22,271
Cash and Non-Interest-Bearing Accounts$102,021$93,428▼ $8,593
Prepaid Expenses and Deferred Charges$37,672$42,401▲ $4,729
Total Assets$25,082,585$25,032,872▼ $49,713
Liabilities
Other Liabilities$19,485,422$19,287,419▼ $198,003
Accounts Payable and Accrued Expenses$23,401$23,084▼ $317
Total Liabilities$19,508,823$19,310,503▼ $198,320
Net Assets / Fund Balance
Total Net Assets Fund Balance$5,573,762$5,722,369▲ $148,607
Total Liabilities and Net Assets / Fund Balance$25,082,585$25,032,872▼ $49,713

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$144,501$115,020$259,521
Compensation and Service Providers
Top Officer Pay67th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Kerry FearnPresidentFT$95,166$27,000$122,166

Board Members and Trustees

NameTitle
Brad OsborneDirector
Brenda JonesDirector
J Michael CoffmanDirector
Jeremy DoughtyDirector
John M SwickDirector
Kyle PerryDirector
Marilyn Kaye HonnDirector
Richard MercerDirector
Sue McdowellDirector
W Max JaegerDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$387,308
Investment Income
$385,434
Other Revenue
$3,350
Change in Net Assets
$148,607
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$356,730
Salaries, Compensation, and Employee Benefits$270,755
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---$122,166
Other Salaries and Wages---$119,980
Information Technology---$58,249
Occupancy---$48,279
Office Expenses---$30,890
Payroll Taxes---$19,088
Conferences and Meetings---$13,966
Insurance---$12,573
Fees for Services Accounting---$10,800
Other Expenses---$9,131
Advertising---$8,993
Pension Plan Contributions---$8,962
Fees for Services Legal---$5,101
Depreciation Depletion---$5,004
Travel---$1,500
Other Employee Benefits---$559
Total Functional Expenses$0$0$0$627,485
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
Section 527 Activity Spending$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$19,287,419
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 35% controlled entity
No
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
2020-06-22

Organization Details

Principal Officer
Kerry Fearn
Formed
1960
Legal Domicile
Il
Voting Board Members
11
Independent Board Members
10
Employees
9
Volunteers
11
Raw XML Appendix364 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/StateAbbreviationCd0IL
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/BookValueAmt0144501
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0115020
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0259521
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt019287419
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SAVINGS OF MEMBERS
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0144501
IRS990ScheduleD/TotalLiabilityAmt019287419
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
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt025032872
IRS990/TotalAssetsGrp/BOYAmt025082585
IRS990/TotalAssetsGrp/EOYAmt025032872
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt09
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0627485
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt019508823
IRS990/TotalLiabilitiesEOYAmt019310503
IRS990/TotalLiabilitiesGrp/BOYAmt019508823
IRS990/TotalLiabilitiesGrp/EOYAmt019310503
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt05573762
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt05722369
IRS990/TotalOtherCompensationAmt027000
IRS990/TotalProgramServiceRevenueAmt0387308
IRS990/TotalReportableCompFromOrgAmt095166
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0776092
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0776092
IRS990/TotalVolunteersCnt011
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt025082585
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt025032872
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/BuildTS02021-04-22 16:20:28Z
ReturnHeader/BusinessOfficerGrp/PersonNm0KERRY FEARN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02172347817
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-06-22
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/AtSubmissionCreationDeviceId04E7C361170FE573553D31554C835323FAF5C9CFC
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId04E7C361170FE573553D31554C835323FAF5C9CFC
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0208.124.118.248
ReturnHeader/FilingSecurityInformation/IPDt02020-06-23
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm014:05:08
ReturnHeader/ReturnTs02020-06-23T14:05:08-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$25,032,872
Liabilities
$19,310,503
Net assets
$5,722,369
Revenue
$776,092
Expenses
$627,485
Net income
$148,607
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
2019Detailed filing. Detailed filing data is available for this year.$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