Civic Intelligence

Credit Unions Chartered in the State of Michigan

990 • Fiscal year 2016 • EIN 38-1456286

Jan 01, 2016 to Dec 31, 2016 • Filed on Apr 12, 2018

Organization Profilewww.unitycu.com
7240 East Twelve Mile RoadWarren, MI 48092

(586) 573-4110

Siviq Scores

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

Liabilities / Assets

20th percentile

0.84x

Higher debt load relative to assets than 20% of similar nonprofits.

2016 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2016

Liabilities / Revenue

94th percentile

31.84x

Higher debt load relative to revenue than 94% of similar nonprofits.

2016 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2016

Net Margin

78th percentile

13%

Higher net margin than 78% of similar nonprofits.

2016 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2016

Top Officer Pay

19th percentile

$69,901

Higher top officer pay than 19% of similar nonprofits.

Top officer pay equals 5.7% of source-year revenue.

2016 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2016

Asset Growth

38th percentile

1.7%

Faster asset growth than 38% of similar nonprofits.

2016 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2015 to 2016

Revenue Growth

91st percentile

11%

Faster revenue growth than 91% of similar nonprofits.

2016 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets20th percentile

Assets

Up

$46,929,429

Up $800,457 (+1.7%) from 2015

Net Assets

Up

$7,602,384

Up $165,867 (+2.2%) from 2015

Liabilities

Up

$39,327,045

Up $634,590 (+1.6%) from 2015

Revenue And Expenses
Liabilities / Revenue94th percentileNet Margin78th percentile

Revenue

Up

$1,235,001

Up $121,534 (+11%) from 2015

Expenses

Up

$1,069,134

Up $30,300 (+2.9%) from 2015

Net Income

Up

$165,867

Up $91,234 (+122%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth38th percentile

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

$60M$40M$20M$0Assets 2010: $39,096,284Liabilities 2010: $32,354,829Net Assets 2010: $6,741,4552010Assets 2011: $48,750,839Liabilities 2011: $41,669,114Net Assets 2011: $7,081,7252011Assets 2012: $48,880,015Liabilities 2012: $41,650,706Net Assets 2012: $7,229,3092012Assets 2013: $46,717,028Liabilities 2013: $39,350,759Net Assets 2013: $7,366,2692013Assets 2014: $45,211,886Liabilities 2014: $37,847,141Net Assets 2014: $7,364,7452014Assets 2015: $46,128,972Liabilities 2015: $38,692,455Net Assets 2015: $7,436,5172015Assets 2016: $46,929,429Liabilities 2016: $39,327,045Net Assets 2016: $7,602,3842016Assets 2017: $47,112,961Liabilities 2017: $39,378,469Net Assets 2017: $7,734,4922017Assets 2018: $48,153,438Liabilities 2018: $40,103,974Net Assets 2018: $8,049,4642018Assets 2019: $48,770,129Liabilities 2019: $40,339,401Net Assets 2019: $8,430,7282019Assets 2020: $54,388,323Liabilities 2020: $45,757,027Net Assets 2020: $8,631,2962020

Highlighted filing

2016

Assets$46,929,429
Liabilities$39,327,045
Net Assets$7,602,384
Open 2016 Filing

Operations Trend

Revenue Growth91st percentile

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

$2.0M$1.5M$1.0M$500K$0Expenses 2010: $1,356,8482010Expenses 2011: $1,488,0092011Expenses 2012: $1,294,9072012Revenue 2013: $1,171,098Expenses 2013: $1,047,209Net Income 2013: $123,8892013Revenue 2014: $1,134,835Expenses 2014: $1,046,425Net Income 2014: $88,4102014Revenue 2015: $1,113,467Expenses 2015: $1,038,834Net Income 2015: $74,6332015Revenue 2016: $1,235,001Expenses 2016: $1,069,134Net Income 2016: $165,8672016Revenue 2017: $1,193,056Expenses 2017: $1,060,948Net Income 2017: $132,1082017Revenue 2018: $1,461,437Expenses 2018: $1,146,465Net Income 2018: $314,9722018Revenue 2019: $1,675,752Expenses 2019: $1,294,488Net Income 2019: $381,2642019Revenue 2020: $1,352,829Expenses 2020: $1,152,261Net Income 2020: $200,5682020

Highlighted filing

2016

Revenue$1,235,001
Expenses$1,069,134
Net Income$165,867
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Apr 12, 2018
Return Version
2016v3.0
Gross Receipts
$1,235,001
Mission and Program Overview

Mission

Provide financial services and products to members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$12,038,357$17,892,727▲ $5,854,370
Investments Other Securities$21,006,600$15,910,600▼ $5,096,000
Other Notes and Loans Receivable, Net$11,465,027$11,572,083▲ $107,056
Rtn Earn Endowment Incm Other Fnds$7,436,517$7,602,384▲ $165,867
Land, Buildings, and Equipment, Net$285,926$275,069▼ $10,857
Cash and Non-Interest-Bearing Accounts$348,677$267,644▼ $81,033
Prepaid Expenses and Deferred Charges$146,059$145,679▼ $380
Accounts Receivable-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$46,128,972$46,929,429▲ $800,457
Other Assets Total$838,326$865,627▲ $27,301
Liabilities
Other Liabilities$38,674,949$39,308,905▲ $633,956
Accounts Payable and Accrued Expenses$17,506$18,140▲ $634
Total Liabilities$38,692,455$39,327,045▲ $634,590
Net Assets / Fund Balance
Total Net Assets Fund Balance$7,436,517$7,602,384▲ $165,867
Total Liabilities and Net Assets / Fund Balance$46,128,972$46,929,429▲ $800,457

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$82,502$469,133$551,635
Other Land Buildings$65,096$249,947$315,043
Equipment$5$273,915$273,920
Land$127,465-$127,465
Leasehold Improvements$1$14,230$14,231
Compensation and Service Providers
Top Officer Pay19th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Dennis MoriarityTreasurer & CEOFT$69,901$69,901

Board Members and Trustees

NameTitle
Arthue SpaffordChairperson
Steve RedmondViceChairperson
Fred KochDirector
Connie MitchellSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$848,462
Investment Income
$386,539
Other Revenue
$0
Change in Net Assets
$165,867
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$646,111
Other Expenses$423,023
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$441,971
Office Expenses---$166,741
Current Officers, Directors, Trustees, and Key Employees---$69,901
Other Employee Benefits---$64,992
Fees for Services Other---$57,806
Occupancy---$44,715
Payroll Taxes---$41,651
Interest---$28,054
Pension Plan Contributions---$27,596
Depreciation Depletion---$22,672
Other Expenses---$13,203
All Other Expenses---$7,851
Fees for Services Accounting---$7,835
Fees for Services Legal---$6,714
Conferences and Meetings---$4,201
Advertising---$2,707
Total Functional Expenses$0$0$0$1,069,134
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
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

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

Other Reported Liabilities

LiabilityAmount
Share Accounts$39,308,905
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
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder

“Section 501c(14) Credit Union is composed of members.”

Form 990, Part VI, Line 7A: How Members or Shareholders Elect Governing Body

“Members vote on bylaw and charter changes. Members vote and elect Board members at annual meeting.”

Form 990, Part VI, Line 7B: Describe Decisions of Governing Body Approval by Members or Shareholders

“Mergers are voted on by entire membership.”

Form 990, Part VI, Line 11B: Form 990 Review Process

“Management reviews tax returns and forwards US Form 8879-EO to tax preparer. Board reviews filed tax returns at next scheduled meeting.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“Employee loans are Management approved. Management loans are Board approved. Loans to Board members are approved by the Board minus the lendee.”

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

“Executive and employee salaries are Board reviewed and approved. Board of directors are not compensated.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“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
Unity Credit Union
EIN
38-1456286
Phone
5865734110
Address
7240 East Twelve Mile Road, Warren, MI 48092

Signing Officer

Name
Dennis Moriarity
Title
Treasurer & CEO
Signed
2018-04-12
Discuss with paid preparer
Yes

Organization Details

Formed
1954
Legal Domicile
Mi
Voting Board Members
5
Independent Board Members
4
Employees
12
Volunteers
5

Preparer

Firm
Financial Standards Group Inc
Address
3615 NEWBURG RD, LOUISVILLE, KY 40218
Preparer
Thomas Armantrout CPA
Phone
8005225820
Supplemental Narrative

Additional Explanations

Amended Explanation

“Incorrect reporting of former director who had left Credit Union prior to the beginning of 2016.”

Raw XML Appendix375 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/OtherCompensationAmt20
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
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IRS990/Form990PartVIISectionAGrp/PersonNm1Steve Redmond
IRS990/Form990PartVIISectionAGrp/PersonNm2Connie Mitchell
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IRS990/Form990PartVIISectionAGrp/TitleTxt4Treasurer & CEO
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IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0true
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt07436517
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt07602384
IRS990/SavingsAndTempCashInvstGrp/BOYAmt012038357
IRS990/SavingsAndTempCashInvstGrp/EOYAmt017892727
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt082502
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0469133
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0551635
IRS990ScheduleD/EquipmentGrp/BookValueAmt05
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0273915
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0273920
IRS990ScheduleD/LandGrp/BookValueAmt0127465
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0127465
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt01
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt014230
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt014231
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt065096
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0249947
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0315043
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt039308905
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Share Accounts
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0275069
IRS990ScheduleD/TotalBookValueSecuritiesAmt015910600
IRS990ScheduleD/TotalLiabilityAmt039308905
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Section 501c(14) Credit Union is composed of members.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Members vote on bylaw and charter changes. Members vote and elect Board members at annual meeting.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Mergers are voted on by entire membership.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Management reviews tax returns and forwards US Form 8879-EO to tax preparer. Board reviews filed tax returns at next scheduled meeting.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Employee loans are Management approved. Management loans are Board approved. Loans to Board members are approved by the Board minus the lendee.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Executive and employee salaries are Board reviewed and approved. Board of directors are not compensated.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Credit 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7Incorrect reporting of former director who had left Credit Union prior to the beginning of 2016.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 7a: How Members or Shareholders Elect Governing Body
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 7b: Describe Decisions of Governing Body Approval by Members or Shareholders
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Amended Explanation
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt046128972
IRS990/TotalAssetsEOYAmt046929429
IRS990/TotalAssetsGrp/BOYAmt046128972
IRS990/TotalAssetsGrp/EOYAmt046929429
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt012
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt01069134
IRS990/TotalGrossUBIAmt012388
IRS990/TotalLiabilitiesBOYAmt038692455
IRS990/TotalLiabilitiesEOYAmt039327045
IRS990/TotalLiabilitiesGrp/BOYAmt038692455
IRS990/TotalLiabilitiesGrp/EOYAmt039327045
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt07436517
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt07602384
IRS990/TotalProgramServiceRevenueAmt0848462
IRS990/TotalReportableCompFromOrgAmt069901
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01222613
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01235001
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt012388
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt046128972
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt046929429
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0true
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0www.unitycu.com
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02018-03-14 21:41:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Dennis Moriarity
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Treasurer & CEO
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-04-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Unity Credit Union
ReturnHeader/Filer/BusinessNameControlTxt0UNIT
ReturnHeader/Filer/EIN0381456286
ReturnHeader/Filer/PhoneNum05865734110
ReturnHeader/Filer/USAddress/AddressLine1Txt07240 East Twelve Mile Road
ReturnHeader/Filer/USAddress/CityNm0Warren
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MI
ReturnHeader/Filer/USAddress/ZIPCd048092
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0FINANCIAL STANDARDS GROUP INC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03615 NEWBURG RD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LOUISVILLE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0KY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd040218
ReturnHeader/PreparerPersonGrp/PhoneNum08005225820
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Thomas Armantrout CPA
ReturnHeader/ReturnTs02018-04-12T10:33:39-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$46,929,429
Liabilities
$39,327,045
Net assets
$7,602,384
Revenue
$1,235,001
Expenses
$1,069,134
Net income
$165,867
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2020Detailed filing. Detailed filing data is available for this year.$54.4$45.8$8.63$1.35$1.15$0.20
2019Detailed filing. Detailed filing data is available for this year.$48.8$40.3$8.43$1.68$1.29$0.38
2018Detailed filing. Detailed filing data is available for this year.$48.2$40.1$8.05$1.46$1.15$0.31
2017Detailed filing. Detailed filing data is available for this year.$47.1$39.4$7.73$1.19$1.06$0.13
2016Detailed filing. Detailed filing data is available for this year.$46.9$39.3$7.60$1.24$1.07$0.17
2015Detailed filing. Detailed filing data is available for this year.$46.1$38.7$7.44$1.11$1.04$0.07
2014Detailed filing. Detailed filing data is available for this year.$45.2$37.8$7.36$1.13$1.05$0.09
2013Detailed filing. Detailed filing data is available for this year.$46.7$39.4$7.37$1.17$1.05$0.12
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$48.9$41.7$7.23$1.29
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$48.8$41.7$7.08$1.49
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$39.1$32.4$6.74$1.36