Civic Intelligence

Madco Credit Union

990 • Fiscal year 2015 • EIN 37-1118625

Jan 01, 2015 to Dec 31, 2015 • Filed on May 16, 2016

Organization Profile
157 North Main Street Suite 31Edwardsville, IL 62025

(618) 656-5735

Siviq Scores

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

Liabilities / Assets

4th percentile

0.00x

Higher debt load relative to assets than 4% of similar nonprofits.

2015 filings • 501(c)14 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

6th percentile

0.02x

Higher debt load relative to revenue than 6% of similar nonprofits.

2015 filings • 501(c)14 • $1M-$5M nonprofits • Source year 2015

Net Margin

17th percentile

-14%

Higher net margin than 17% of similar nonprofits.

2015 filings • 501(c)14 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

56th percentile

$31,005

Higher top officer pay than 56% of similar nonprofits.

Top officer pay equals 54.5% of source-year revenue.

2015 filings • 501(c)14 • $1M-$5M nonprofits • Source year 2015

Asset Growth

56th percentile

1.1%

Faster asset growth than 56% of similar nonprofits.

2015 filings • 501(c)14 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

62nd percentile

1.4%

Faster revenue growth than 62% of similar nonprofits.

2015 filings • 501(c)14 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets4th percentile

Assets

Up

$1,469,484

Up $16,219 (+1.1%) from 2014

Net Assets

Up

$1,468,213

Up $15,377 (+1.1%) from 2014

Liabilities

Up

$1,271

Up $842 (+196%) from 2014

Revenue And Expenses
Liabilities / Revenue6th percentileNet Margin17th percentile

Revenue

Up

$56,874

Up $802 (+1.4%) from 2014

Expenses

Down

$64,927

Down $1,381 (-2.1%) from 2014

Net Income

Up

-$8,053

Up $2,183 (+21%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth56th percentile

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

$1.5M$1.0M$500K$0-$500KAssets 2010: $1,394,125Liabilities 2010: $1,147,978Net Assets 2010: $246,1472010Assets 2011: $1,369,547Liabilities 2011: -$162Net Assets 2011: $1,369,7092011Assets 2012: $1,347,619Liabilities 2012: $0Net Assets 2012: $1,347,6192012Assets 2013: $1,448,293Liabilities 2013: $2,428Net Assets 2013: $1,445,8652013Assets 2014: $1,453,265Liabilities 2014: $429Net Assets 2014: $1,452,8362014Assets 2015: $1,469,484Liabilities 2015: $1,271Net Assets 2015: $1,468,2132015

Highlighted filing

2015

Assets$1,469,484
Liabilities$1,271
Net Assets$1,468,213
Open 2015 Filing

Operations Trend

Revenue Growth62nd percentile

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

$100K$50K$0-$50KExpenses 2010: $68,4752010Expenses 2011: $66,6862011Expenses 2012: $77,7872012Revenue 2013: $59,856Expenses 2013: $60,597Net Income 2013: -$7412013Revenue 2014: $56,072Expenses 2014: $66,308Net Income 2014: -$10,2362014Revenue 2015: $56,874Expenses 2015: $64,927Net Income 2015: -$8,0532015

Highlighted filing

2015

Revenue$56,874
Expenses$64,927
Net Income-$8,053
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
May 16, 2016
Return Version
2015v2.1
Gross Receipts
$56,874
Mission and Program Overview

Mission

The credit union operated without profit for mutual purposes.Providing members with share accounts and loans.

The main purpose of Madco Credit Union is to provide share accounts and loans to our members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$1,452,836$1,468,213▲ $15,377
Other Notes and Loans Receivable, Net$546,247$636,097▲ $89,850
Savings and Temporary Cash Investments$768,580$621,263▼ $147,317
Cash and Non-Interest-Bearing Accounts$66,972$137,109▲ $70,137
Receivables From Officers Etc$54,694$58,231▲ $3,537
Prepaid Expenses and Deferred Charges$4,316$4,156▼ $160
Accounts Receivable$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Land, Buildings, and Equipment, Net$0--
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Total Assets$1,453,265$1,469,484▲ $16,219
Other Assets Total$12,456$12,628▲ $172
Liabilities
Accounts Payable and Accrued Expenses$429$1,271▲ $842
Total Liabilities$429$1,271▲ $842
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,452,836$1,468,213▲ $15,377
Total Liabilities and Net Assets / Fund Balance$1,453,265$1,469,484▲ $16,219
Compensation and Service Providers
Top Officer Pay56th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Marcia PraterTreasurerPT$31,005$31,005
Wendy LeonardDirectorPT$4,210$4,210

Board Members and Trustees

NameTitle
Myrna AbertChairman
Joseph DaudermanVice Chairperson
Debra Ming-MendozaDirector
Karen McDonoughDirector
Melissa MaherDirector
Peggy-Jo BatsonDirector
Patricia SchaakeSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$53,383
Investment Income
$2,683
Other Revenue
$808
Change in Net Assets
$-8,053
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$35,215
Other Expenses$29,712
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---$35,215
Office Expenses---$12,532
Information Technology---$4,593
Other Expenses---$4,195
Fees for Services Management---$2,634
Total Functional Expenses$0$0$0$64,927
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees$54,694$58,231▲ $3,537
Receivables from Disqualified Persons$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
Yes
Other officer compensation reviewed
Yes
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, Part VI, Section A, Line 2

“Manager Marcia Prater is the mother of Director Melissa Maher.”

Form 990, Part VI, Section A, Line 7A

“All members who attend the annual organizational meeting can cast a vote for the Board of Directors to remain or to appoint new ones.”

Form 990, Part VI, Section B, Line 11B

“The 990 is presented at the monthly meeting before the 990 is filed. Each member on the board is given a copy of the 990 to review and comment on.”

Form 990, Part VI, Section B, Line 15

“The hourly wage of the two staff employees is determined by the Board, currently at $10.00 for second employee and $14.50 for the existing manager. Wendy Leonard was the second employee and Marcia Prater is the manager. The Treasurer/CEO/President receives a monthly salary of $1100.00. Changes in salary are reviewed each year at the annual meeting in February.”

Form 990, Part VI, Section C, Line 19

“All documents pertaining to the 990 including financial information is available for public viewing in the office located at 157 North Main Street, Suite 31, Edwardsville, Illinois 62025. The financial statements are only on display in the credit union, but form 990 is available upon request. All governing documents are available for members to view and some are on display in the credit union on the front desk.”

Filing and Contact Details

Filer

Filer Name
Madco Credit Union
EIN
37-1118625
Phone
6186565735
Address
157 NORTH MAIN STREET SUITE 31, EDWARDSVILLE, IL 62025

Signing Officer

Name
Marcia Prater
Title
Treasurer, President
Phone
6186565735
Signed
2016-05-16

Organization Details

Principal Officer
Marcia Prater
Formed
1982
Legal Domicile
Il
Voting Board Members
9
Independent Board Members
9
Employees
2
Volunteers
9
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Changes resulted in a variance of cash deposits as well as member paid dividends. Cash deposits changed daily and dividends vary from month to month. These change as the members balances in their savings account changes.”

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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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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd1X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd2X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd3X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd4X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd5X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd6X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0CAR
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt1CHRISTMAS AND TIRES
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt2DEBT CONSOLIDATION
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt3CAR/TRUCK
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt4HELP GRANDDAUGHTER
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt5BILLS
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt6TRUCK
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt13000
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt43000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt53000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt629116
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0DEBRA MING-MENDOZA
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm1DEBRA MING-MENDOZA
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm2WENDY LEONARD
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm3MARCIA PRATER
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm4MARCIA PRATER
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm5JOSEPH DAUDERMAN
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm6JOSEPH DAUDERMAN
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0DIRECTOR
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt1DIRECTOR
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt4DIRECTOR
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IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Manager Marcia Prater is the mother of Director Melissa Maher.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1All members who attend the annual organizational meeting can cast a vote for the Board of Directors to remain or to appoint new ones.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The 990 is presented at the monthly meeting before the 990 is filed. Each member on the board is given a copy of the 990 to review and comment on.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The hourly wage of the two staff employees is determined by the Board, currently at $10.00 for second employee and $14.50 for the existing manager. Wendy Leonard was the second employee and Marcia Prater is the manager. The Treasurer/CEO/President receives a monthly salary of $1100.00. Changes in salary are reviewed each year at the annual meeting in February.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4All documents pertaining to the 990 including financial information is available for public viewing in the office located at 157 North Main Street, Suite 31, Edwardsville, Illinois 62025. The financial statements are only on display in the credit union, but form 990 is available upon request. All governing documents are available for members to view and some are on display in the credit union on the front desk.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Changes resulted in a variance of cash deposits as well as member paid dividends. Cash deposits changed daily and dividends vary from month to month. These change as the members balances in their savings account changes.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, Line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, Line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, Line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part XI, Line 9
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IRS990/SignificantNewProgramSrvcInd00
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IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
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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
$1,469,484
Liabilities
$1,271
Net assets
$1,468,213
Revenue
$56,874
Expenses
$64,927
Net income
-$8,053
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2015Detailed filing. Detailed filing data is available for this year.$1.47$0.00$1.47$0.06$0.06$0.01
2014Detailed filing. Detailed filing data is available for this year.$1.45$0.00$1.45$0.06$0.07$0.01
2013Detailed filing. Detailed filing data is available for this year.$1.45$0.00$1.45$0.06$0.06$0.00
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.35$0.00$1.35$0.08
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.37$0.00$1.37$0.07
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.39$1.15$0.25$0.07