Civic Intelligence

Credit Unions Chartered in the State of Michigan

990 • Fiscal year 2017 • EIN 38-1441242

Jan 01, 2017 to Dec 31, 2017 • Filed on May 15, 2018

Organization ProfileWWW.ELGACU.COM

View Organization Page

2305 S Center RoadBurton, MI 48519

(810) 715-3542

Siviq Scores

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

Liabilities / Assets

16th percentile

0.86x

Higher debt load relative to assets than 16% of similar nonprofits.

2017 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2017

Liabilities / Revenue

7th percentile

11.07x

Higher debt load relative to revenue than 7% of similar nonprofits.

2017 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2017

Net Margin

98th percentile

31%

Higher net margin than 98% of similar nonprofits.

2017 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2017

Top Officer Pay

39th percentile

$362,627

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 0.8% of source-year revenue.

2017 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2017

Asset Growth

94th percentile

16%

Faster asset growth than 94% of similar nonprofits.

2017 filings • 501(c)14 • $250M-$1B nonprofits • Annualized from 2016 to 2017

Revenue Growth

90th percentile

16%

Faster revenue growth than 90% of similar nonprofits.

2017 filings • 501(c)14 • $250M-$1B nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets16th percentile

Assets

Up

$570,088,802

Up $79,694,771 (+16%) from 2016

Net Assets

Up

$80,564,053

Up $13,678,994 (+20%) from 2016

Liabilities

Up

$489,524,749

Up $66,015,777 (+16%) from 2016

Revenue And Expenses
Liabilities / Revenue7th percentileNet Margin98th percentile

Revenue

Up

$44,217,771

Up $6,087,176 (+16%) from 2016

Expenses

Up

$30,569,086

Up $4,932,471 (+19%) from 2016

Net Income

Up

$13,648,685

Up $1,154,705 (+9.2%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth94th percentile

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

$2.0B$1.5B$1.0B$500M$0Assets 2010: $260,016,878Liabilities 2010: $238,943,088Net Assets 2010: $21,073,7902010Assets 2011: $284,756,432Liabilities 2011: $261,063,027Net Assets 2011: $23,693,4052011Assets 2012: $316,589,813Liabilities 2012: $287,698,706Net Assets 2012: $28,891,1072012Assets 2013: $365,120,523Liabilities 2013: $329,250,160Net Assets 2013: $35,870,3632013Assets 2014: $387,170,738Liabilities 2014: $344,279,988Net Assets 2014: $42,890,7502014Assets 2015: $437,345,510Liabilities 2015: $382,985,478Net Assets 2015: $54,360,0322015Assets 2016: $490,394,031Liabilities 2016: $423,508,972Net Assets 2016: $66,885,0592016Assets 2017: $570,088,802Liabilities 2017: $489,524,749Net Assets 2017: $80,564,0532017Assets 2018: $660,931,409Liabilities 2018: $565,203,102Net Assets 2018: $95,728,3072018Assets 2019: $794,491,719Liabilities 2019: $683,397,660Net Assets 2019: $111,094,0592019Assets 2020: $1,060,468,798Liabilities 2020: $932,280,464Net Assets 2020: $128,188,3342020Assets 2021: $1,236,875,968Liabilities 2021: $1,087,187,042Net Assets 2021: $149,688,9262021Assets 2022: $1,416,776,548Liabilities 2022: $1,256,537,450Net Assets 2022: $160,239,0982022Assets 2023: $1,497,868,277Liabilities 2023: $1,310,039,442Net Assets 2023: $187,828,8352023Assets 2024: $1,552,368,811Liabilities 2024: $1,335,223,604Net Assets 2024: $217,145,2072024

Highlighted filing

2017

Assets$570,088,802
Liabilities$489,524,749
Net Assets$80,564,053
Open 2017 Filing

Operations Trend

Revenue Growth90th percentile

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

$150M$100M$50M$0Expenses 2010: $21,645,8432010Expenses 2011: $20,757,2692011Expenses 2012: $21,458,3952012Revenue 2013: $28,185,690Expenses 2013: $20,900,131Net Income 2013: $7,285,5592013Revenue 2014: $30,784,312Expenses 2014: $23,802,928Net Income 2014: $6,981,3842014Revenue 2015: $34,638,456Expenses 2015: $23,134,486Net Income 2015: $11,503,9702015Revenue 2016: $38,130,595Expenses 2016: $25,636,615Net Income 2016: $12,493,9802016Revenue 2017: $44,217,771Expenses 2017: $30,569,086Net Income 2017: $13,648,6852017Revenue 2018: $51,927,755Expenses 2018: $36,648,268Net Income 2018: $15,279,4872018Revenue 2019: $56,196,393Expenses 2019: $40,870,402Net Income 2019: $15,325,9912019Revenue 2020: $60,859,425Expenses 2020: $44,308,630Net Income 2020: $16,550,7952020Revenue 2021: $71,459,461Expenses 2021: $48,156,847Net Income 2021: $23,302,6142021Revenue 2022: $86,734,421Expenses 2022: $58,435,103Net Income 2022: $28,299,3182022Revenue 2023: $108,697,736Expenses 2023: $81,246,313Net Income 2023: $27,451,4232023Revenue 2024: $123,097,040Expenses 2024: $95,636,518Net Income 2024: $27,460,5222024

Highlighted filing

2017

Revenue$44,217,771
Expenses$30,569,086
Net Income$13,648,685
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
May 15, 2018
Return Version
2017v2.3
Gross Receipts
$44,564,166
Mission and Program Overview

Mission

Provide financial services and products to members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$430,467,644$509,058,286▲ $78,590,642
Rtn Earn Endowment Incm Other Fnds$66,885,059$80,564,053▲ $13,678,994
Savings and Temporary Cash Investments$32,301,277$17,732,334▼ $14,568,943
Land, Buildings, and Equipment, Net$9,999,833$13,669,607▲ $3,669,774
Cash and Non-Interest-Bearing Accounts$6,457,230$10,109,674▲ $3,652,444
Investments Other Securities$3,270,387$6,223,702▲ $2,953,315
Investments in Publicly Traded Securities$1,567,398$4,482,966▲ $2,915,568
Prepaid Expenses and Deferred Charges$941,827$1,110,921▲ $169,094
Accounts Receivable$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0$0→ $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
Loans From Officers Directors$0$0→ $0
Total Assets$490,394,031$570,088,802▲ $79,694,771
Other Assets Total$5,388,435$7,701,312▲ $2,312,877
Liabilities
Other Liabilities$427,912,365$483,436,260▲ $55,523,895
Accounts Payable and Accrued Expenses$-4,403,393$6,088,489▲ $10,491,882
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$423,508,972$489,524,749▲ $66,015,777
Net Assets / Fund Balance
Total Net Assets Fund Balance$66,885,059$80,564,053▲ $13,678,994
Total Liabilities and Net Assets / Fund Balance$490,394,031$570,088,802▲ $79,694,771

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$3,329,289$8,525,282$11,854,571
Buildings$7,412,535$3,581,647$10,994,182
Land$1,965,856-$1,965,856
Other Land Buildings$901,729-$901,729
Leasehold Improvements$60,198$524,796$584,994
Compensation and Service Providers
Top Officer Pay39th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Karen ChurchCEO/assistant Board TreasurerFT$314,051$48,576$362,627
Terry KatzurEvpFT$173,586$54,541$228,127
Bryan RandallChief Information OfficerFT$137,608$10,739$148,347
Kathleen SmithCredit CommitteeFT$126,209$11,622$137,831
Chadd ObrienGeneral CounselFT$111,964$9,204$121,168
Brian ChaffinsDirector of TechnologyFT$101,700$9,813$111,513

Board Members and Trustees

NameTitle
Diana CurrierBoard Chairperson
Ruthy QuarlesSupervisory Committee Chairper
Joseph BorisBoard Vice Chair
Harold MottBoard Member
Kevin KeaneBoard Member
Sheveze AndersonBoard Member
Stevan PirkovicBoard Secretary
David HutchinsBoard Treasurer
Connie FryCredit Committee
Rod SlaughterSupervisory Committee
Travis EmmonsSupervisory Committee

Highest Paid Contractors

ContractorServicesLocationCompensation
Case ConstructionConstruction6235 CORUNNA RD, Flint, MI 48532$1,661,491
Performance HealthInsurance1991 CROCKER RD, Westlake, OH 44145$1,372,015
Edge OneMachine Maintenance161 BUSINESS PARK CIRCLE, Stoughton, WI 53589$650,967
Kasasa LtdProduct SupportPO BOX 527, Lubbock, TX 79408$559,679
Jack Henry AssociatesSoftware MaintenancePO BOX 609, Monett, MO 65708$473,236
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$41,926,973
Investment Income
$588,523
Other Revenue
$1,702,275
Change in Net Assets
$13,648,685

Audited Revenue Reconciliation

Revenue per Audited Statements
$44,217,771
Revenue Not Reported on Form 990
$42,031
Total Revenue per Audited Statements
$44,259,802
Total Revenue per Form 990
$44,217,771
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$18,321,403
Salaries, Compensation, and Employee Benefits$12,247,683
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$8,629,140
Office Expenses---$3,146,087
Interest---$2,441,655
Advertising---$1,773,671
Other Employee Benefits---$1,732,055
Information Technology---$1,689,979
Depreciation Depletion---$1,378,770
Other Expenses---$877,022
Payroll Taxes---$798,692
Occupancy---$730,081
Current Officers, Directors, Trustees, and Key Employees---$590,754
Pension Plan Contributions---$497,042
Travel---$306,157
Insurance---$141,845
Fees for Services Accounting---$89,827
All Other Expenses---$66,973
Total Functional Expenses$0$0$0$30,569,086

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$30,569,086
Total Expenses per Audited Statements$30,569,086
Total Expenses per Form 990$30,569,086
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Dana TaljonickEmployee - Karen Church Family MemberCompensationYes$61,606
Duane ChurchEmployee - Karen Church Family MemberCompensationYes$40,622

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
MEMBERS' SHARE ACCOUNTS$483,436,260
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
Yes
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
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

“Membership is open to anyone who lives, works, worships, or attends school in or are business or other legal entities of burton, clio, davison, fenton, flint, flushing, saginaw, and kapeer, michigan as described in the organization bylaws and community charter.”

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

“The board of directors is the governing body and consists of seven directors. The board of directors are elected by the members at an annual meeting.”

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

“Governance decisions of the organization such as mergers are voted on by the entire membership.”

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

“The form 990 is reviewed by management and an independent accounting firm prior to filing with the irs. The board of directors receive a copy of the form 990 before it is filed.”

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

“Loans to employees are approved by management. Loans to management and loans to board members are approved by the credit committee.”

Form 990, Part VI, Section B, Line 15A & 15B

“Executive and employee salaries are reviewed and approved by the board of directors. Members of the board of directors are not compensated.”

Form 990, Part VI, Section C, Line 19

“Credit union bylaws and conflict of interest policy are available upon request at the credit union's main office. Quarterly financial statements are displayed in the lobby which is accessible to the general public. Quarterly financial performance (call) reports are also available at www.ncua.gov for all federally insured credit unions.”

Filing and Contact Details

Filer

Filer Name
Elga Credit Union
EIN
38-1441242
In Care Of
% KAREN CHURCH
Phone
8107153542
Address
2305 S CENTER ROAD, BURTON, MI 48519

Signing Officer

Name
Karen Church
Title
CEO
Phone
8107153542
Signed
2018-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Karen Church CEO
Formed
1951
Legal Domicile
Mi
Voting Board Members
7
Independent Board Members
7
Employees
226
Volunteers
11

Preparer

Firm
Bkd Llp
Address
200 E Main St Suite 700, Fort Wayne, IN 46802
Preparer
Lauren R Denton
Phone
2604604000
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Unrealized depreciation on available-for-sale securities -$11,258 reclassification for realized gains included in net income -$464 total -$11,722”

Financial Statement Notes

Part X, Line 2

“Fin 48 disclosure: management has evaluated their income tax positions under the guidance included in asc 740. Based on their review, management has not identified any material uncertain tax positions to be recorded or disclosed in the financial statements.”

Raw XML AppendixShowing 400 of 623 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/Form990PartVIISectionAGrp/TitleTxt2BOARD SECRETARY
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IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD MEMBER
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IRS990/Form990PartVIISectionAGrp/TitleTxt9SUPERVISORY COMMITTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt10SUPERVISORY COMMITTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt11CREDIT COMMITTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt12CHIEF INFORMATION OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt13CREDIT COMMITTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt14EVP
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIR OF TECHNOLOGY
IRS990/Form990PartVIISectionAGrp/TitleTxt16GENERAL COUNSEL
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Document Assets

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Filings

Displayed year

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

Open filing
Assets
$570,088,802
Liabilities
$489,524,749
Net assets
$80,564,053
Revenue
$44,217,771
Expenses
$30,569,086
Net income
$13,648,685
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1,552$1,335$217$123$95.6$27.5
2023Detailed filing. Detailed filing data is available for this year.$1,498$1,310$188$109$81.2$27.5
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1,417$1,257$160$86.7$58.4$28.3
2021Detailed filing. Detailed filing data is available for this year.$1,237$1,087$150$71.5$48.2$23.3
2020Detailed filing. Detailed filing data is available for this year.$1,060$932$128$60.9$44.3$16.6
2019Detailed filing. Detailed filing data is available for this year.$794$683$111$56.2$40.9$15.3
2018Detailed filing. Detailed filing data is available for this year.$661$565$95.7$51.9$36.6$15.3
2017Detailed filing. Detailed filing data is available for this year.$570$490$80.6$44.2$30.6$13.6
2016Detailed filing. Detailed filing data is available for this year.$490$424$66.9$38.1$25.6$12.5
2015Detailed filing. Detailed filing data is available for this year.$437$383$54.4$34.6$23.1$11.5
2014Detailed filing. Detailed filing data is available for this year.$387$344$42.9$30.8$23.8$6.98
2013Detailed filing. Detailed filing data is available for this year.$365$329$35.9$28.2$20.9$7.29
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$317$288$28.9$21.5
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$285$261$23.7$20.8
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$260$239$21.1$21.6