Civic Intelligence

People Driven Credit Union

990 • Fiscal year 2015 • EIN 38-0478780

Jan 01, 2015 to Dec 31, 2015 • Filed on Nov 14, 2016

Organization ProfileWWW.PEOPLEDRIVENCU.ORG

View Organization Page

24333 Lahser RoadSouthfield, MI 48033

(248) 263-4100

Siviq Scores

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

Liabilities / Assets

82nd percentile

0.91x

Higher debt load relative to assets than 82% of similar nonprofits.

2015 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2015

Liabilities / Revenue

52nd percentile

18.41x

Higher debt load relative to revenue than 52% of similar nonprofits.

2015 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2015

Net Margin

9th percentile

3.8%

Higher net margin than 9% of similar nonprofits.

2015 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2015

Top Officer Pay

21st percentile

$281,532

Higher top officer pay than 21% of similar nonprofits.

Top officer pay equals 2.3% of source-year revenue.

2015 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2015

Asset Growth

6th percentile

1.0%

Faster asset growth than 6% of similar nonprofits.

2015 filings • 501(c)14 • $250M-$1B nonprofits • Annualized from 2014 to 2015

Revenue Growth

31st percentile

3.0%

Faster revenue growth than 31% of similar nonprofits.

2015 filings • 501(c)14 • $250M-$1B nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets82nd percentile

Assets

Up

$250,327,862

Up $2,440,648 (+1.0%) from 2014

Net Assets

Up

$21,896,764

Up $22,581 (+0.1%) from 2014

Liabilities

Up

$228,431,098

Up $2,418,067 (+1.1%) from 2014

Revenue And Expenses
Liabilities / Revenue52nd percentileNet Margin9th percentile

Revenue

Up

$12,405,759

Up $366,305 (+3.0%) from 2014

Expenses

Up

$11,929,491

Up $323,354 (+2.8%) from 2014

Net Income

Up

$476,268

Up $42,951 (+9.9%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth6th percentile

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

$600M$400M$200M$0Assets 2010: $173,002,156Liabilities 2010: $157,960,115Net Assets 2010: $15,042,0412010Assets 2011: $176,949,190Liabilities 2011: $162,670,729Net Assets 2011: $14,278,4612011Assets 2012: $180,721,331Liabilities 2012: $166,813,126Net Assets 2012: $13,908,2052012Assets 2013: $183,907,993Liabilities 2013: $170,123,726Net Assets 2013: $13,784,2672013Assets 2014: $247,887,214Liabilities 2014: $226,013,031Net Assets 2014: $21,874,1832014Assets 2015: $250,327,862Liabilities 2015: $228,431,098Net Assets 2015: $21,896,7642015Assets 2016: $249,447,385Liabilities 2016: $227,388,031Net Assets 2016: $22,059,3542016Assets 2017: $256,053,437Liabilities 2017: $233,476,868Net Assets 2017: $22,576,5692017Assets 2018: $260,418,881Liabilities 2018: $236,096,541Net Assets 2018: $24,322,3402018Assets 2019: $272,103,137Liabilities 2019: $245,166,283Net Assets 2019: $26,936,8542019Assets 2020: $321,328,525Liabilities 2020: $292,485,341Net Assets 2020: $28,843,1842020Assets 2021: $342,686,404Liabilities 2021: $313,542,124Net Assets 2021: $29,144,2802021Assets 2022: $350,695,772Liabilities 2022: $330,722,050Net Assets 2022: $19,973,7222022Assets 2023: $456,890,223Liabilities 2023: $427,304,480Net Assets 2023: $29,585,7432023Assets 2024: $470,762,151Liabilities 2024: $437,019,037Net Assets 2024: $33,743,1142024

Highlighted filing

2015

Assets$250,327,862
Liabilities$228,431,098
Net Assets$21,896,764
Open 2015 Filing

Operations Trend

Revenue Growth31st percentile

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

$40M$30M$20M$10M$0Expenses 2010: $14,274,4182010Expenses 2011: $12,044,3812011Expenses 2012: $10,679,3342012Revenue 2013: $10,256,554Expenses 2013: $9,656,705Net Income 2013: $599,8492013Revenue 2014: $12,039,454Expenses 2014: $11,606,137Net Income 2014: $433,3172014Revenue 2015: $12,405,759Expenses 2015: $11,929,491Net Income 2015: $476,2682015Revenue 2016: $12,892,710Expenses 2016: $12,350,477Net Income 2016: $542,2332016Revenue 2017: $12,934,497Expenses 2017: $12,031,653Net Income 2017: $902,8442017Revenue 2018: $13,586,986Expenses 2018: $12,094,124Net Income 2018: $1,492,8622018Revenue 2019: $14,465,914Expenses 2019: $12,662,756Net Income 2019: $1,803,1582019Revenue 2020: $13,184,651Expenses 2020: $11,806,652Net Income 2020: $1,377,9992020Revenue 2021: $13,451,115Expenses 2021: $11,585,503Net Income 2021: $1,865,6122021Revenue 2022: $15,327,663Expenses 2022: $11,722,935Net Income 2022: $3,604,7282022Revenue 2023: $29,393,305Expenses 2023: $23,093,842Net Income 2023: $6,299,4632023Revenue 2024: $30,146,660Expenses 2024: $26,574,821Net Income 2024: $3,571,8392024

Highlighted filing

2015

Revenue$12,405,759
Expenses$11,929,491
Net Income$476,268
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Nov 14, 2016
Return Version
2015v2.1
Gross Receipts
$12,444,075
Mission and Program Overview

Mission

The mission of people driven credit union is to promote the financial well-being of the membership by fostering thrift and encouraging the prudent use of credit. This is accomplished by providing convenient, competitively priced, quality financial services in a work environment that provides a challenging and rewarding career for employees and encourages volunteer member participation.

The credit union is a member owned, full service financial organization committed to providing financial services and cost savings thereby helping our members achieve financial success.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$117,124,610$125,865,392▲ $8,740,782
Investments Other Securities$66,668,956$80,658,829▲ $13,989,873
Rtn Earn Endowment Incm Other Fnds$21,874,183$21,896,764▲ $22,581
Savings and Temporary Cash Investments$33,402,000$10,977,535▼ $22,424,465
Land, Buildings, and Equipment, Net$6,633,684$7,095,694▲ $462,010
Cash and Non-Interest-Bearing Accounts$5,907,369$5,983,783▲ $76,414
Prepaid Expenses and Deferred Charges$580,751$933,693▲ $352,942
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$247,887,214$250,327,862▲ $2,440,648
Other Assets Total$17,569,844$18,812,936▲ $1,243,092
Liabilities
Other Liabilities$223,249,511$225,851,522▲ $2,602,011
Accounts Payable and Accrued Expenses$2,763,520$2,579,576▼ $183,944
Total Liabilities$226,013,031$228,431,098▲ $2,418,067
Net Assets / Fund Balance
Total Net Assets Fund Balance$21,874,183$21,896,764▲ $22,581
Total Liabilities and Net Assets / Fund Balance$247,887,214$250,327,862▲ $2,440,648

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$5,511,271$1,120,948$6,632,219
Equipment$744,792$3,893,101$4,637,893
Other Land Buildings$100,329$2,471,073$2,571,402
Leasehold Improvements$321,808$940,870$1,262,678
Land$417,494-$417,494
Other Assets Org$-441,137--
Other Securities$14,585,581--
Compensation and Service Providers
Top Officer Pay21st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Renee D DemarcoPresident/CEOFT$197,446$84,086$281,532
Margaret LambSVP/CFOFT$115,000$56,113$171,113
Loretta CampbellCOOFT$115,580$18,190$133,770
William Van HorneCIOFT$88,505$28,046$116,551
S Maxwell SmithCLOFT$94,407$10,417$104,824

Board Members and Trustees

NameTitle
Claudia YoungBoard Chair
Mark UrbaniakVice-chair
Anita P DouglasBoard Member
Margaret O Patterson-baileyBoard Member
Michelle RhodesBoard Member
Miller AdamsBoard Member
Ronnie WilliamsBoard Member
Sue WilsonBoard Member
Xiang WuBoard Member
Carol DominoBoard Secretary
Dennis W ParadowskiBoard Treasurer
Faye L Perkins-barnesDirector (left 11/2014)
Peter a CaplanDirector (left 11/2014)
Sharon ZumbrunnenDirector (left 11/2014)
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$10,870,489
Investment Income
$1,187,622
Other Revenue
$347,648
Change in Net Assets
$476,268
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$6,239,684
Salaries, Compensation, and Employee Benefits$5,689,807
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$3,591,437
Current Officers, Directors, Trustees, and Key Employees---$807,790
Occupancy---$802,365
Other Employee Benefits---$714,485
All Other Expenses---$478,532
Payroll Taxes---$347,105
Other Expenses---$309,203
Pension Plan Contributions---$228,990
Fees for Services Other---$112,335
Advertising---$100,148
Fees for Services Legal---$58,705
Fees for Services Accounting---$53,366
Interest---$76
Total Functional Expenses$0$0$0$11,929,491
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
Members Share Accounts$225,851,522
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
Yes
Other officer compensation reviewed
Yes
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, Part VI, Section A, Line 6

“Every client that has an account with our credit union is also a member.”

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

“Members elect members of the governing body each year at the annual meeting.”

Form 990, Part VI, Section B, Line 11

“Form 990 will not be provided to the organization's governing body before it is filed. A review is conducted by the cfo prior to submission to the irs.”

Form 990, Part VI, Section B, Line 12C

“Officials are required to sign annual certification of compliance with policy.”

Form 990, Part VI, Section B, Line 15

“Compease salary survey along with each employee's job performance review is used to determine wage increases for non-union staff. Union staff compensation is governed by the collective bargaining agreement.”

Form 990, Part VI, Section C, Line 19

“Our financial statements are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
People Driven Credit Union
EIN
38-0478780
Phone
2482634100
Address
24333 LAHSER ROAD, SOUTHFIELD, MI 48033

Signing Officer

Name
Margaret Lamb
Title
CFO
Phone
2482634102
Signed
2016-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Renee Demarco
Formed
1928
Legal Domicile
Mi
Voting Board Members
11
Independent Board Members
11
Employees
103
Volunteers
11

Preparer

Firm
Doeren Mayhew
Address
305 WEST BIG BEAVER ROAD, TROY, MI 48084
Preparer
Jack C Tracy CPA
Phone
2482443000
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Change in other comprehensive income - fas158 -161,268.”

FORM 990, PART XII, LINE 2B:

“Audited financial statements are done on a fiscal year end and tax reporting is required on a calendar year end.”

Raw XML AppendixShowing 400 of 516 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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IRS990/ActivityOrMissionDesc0THE CREDIT UNION IS A MEMBER OWNED, FULL SERVICE FINANCIAL ORGANIZATION COMMITTED TO PROVIDING FINANCIAL SERVICES AND COST SAVINGS THEREBY HELPING OUR MEMBERS ACHIEVE FINANCIAL SUCCESS.
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IRS990/Desc0PROVIDE 27,673 MEMBERS WITH REGULAR SAVINGS, CHECKING, CERTIFICATES OF DEPOSIT, AND IRA ACCOUNTS TOTALING 54,557 ACCOUNTS.
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt06688470
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt14182019
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IRS990/PYTotalExpensesAmt011606137
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IRS990/PYTotalRevenueAmt012039454
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1504286
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt32604061
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt5799282
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt65910808
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt7-441137
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Document Assets

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Filings

Displayed year

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

Open filing
Assets
$250,327,862
Liabilities
$228,431,098
Net assets
$21,896,764
Revenue
$12,405,759
Expenses
$11,929,491
Net income
$476,268
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$471$437$33.7$30.1$26.6$3.57
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$457$427$29.6$29.4$23.1$6.30
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$351$331$20.0$15.3$11.7$3.60
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$343$314$29.1$13.5$11.6$1.87
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$321$292$28.8$13.2$11.8$1.38
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$272$245$26.9$14.5$12.7$1.80
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$260$236$24.3$13.6$12.1$1.49
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$256$233$22.6$12.9$12.0$0.90
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$249$227$22.1$12.9$12.4$0.54
2015Detailed filing. Detailed filing data is available for this year.$250$228$21.9$12.4$11.9$0.48
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$248$226$21.9$12.0$11.6$0.43
2013Summary only. Only limited summary data is available for this year.$184$170$13.8$10.3$9.66$0.60
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$181$167$13.9$10.7
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$177$163$14.3$12.0
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$173$158$15.0$14.3
Peer Organizations

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