Civic Intelligence

Credit Unions Chartered in the State of Michigan Amalgamated Credit Union

990 • Fiscal year 2013 • EIN 38-1516865

Jan 01, 2013 to Dec 31, 2013 • Filed on Aug 25, 2014

Organization ProfileWWW.AMALCU.ORG

View Organization Page

4686 Fashion Square Blvd48604

(989) 792-0026

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Down

$0

Down $37,974,386 (-100%) from 2012

Net Assets

Down

$0

Down $3,851,904 (-100%) from 2012

Liabilities

Down

$0

Down $34,122,482 (-100%) from 2012

Revenue And Expenses

Revenue

Up

$1,490,427

Up $125,426 (+9.2%) from 2012

Expenses

Down

$1,834,660

Down $645,108 (-26%) from 2012

Net Income

Up

-$344,233

Up $770,534 (+69%) from 2012

Historical Trend

Balance Sheet Trend

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

$60M$40M$20M$0Assets 2010: $40,964,143Liabilities 2010: $35,652,152Net Assets 2010: $5,311,9912010Assets 2011: $40,535,704Liabilities 2011: $35,463,103Net Assets 2011: $5,072,6012011Assets 2012: $37,974,386Liabilities 2012: $34,122,482Net Assets 2012: $3,851,9042012Assets 2013: $0Liabilities 2013: $0Net Assets 2013: $02013

Highlighted filing

2013

Assets$0
Liabilities$0
Net Assets$0
Open 2013 Filing

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0M-$2.0MExpenses 2010: $2,862,2292010Expenses 2011: $2,269,9232011Revenue 2012: $1,365,001Expenses 2012: $2,479,768Net Income 2012: -$1,114,7672012Revenue 2013: $1,490,427Expenses 2013: $1,834,660Net Income 2013: -$344,2332013

Highlighted filing

2013

Revenue$1,490,427
Expenses$1,834,660
Net Income-$344,233
Open 2013 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Aug 25, 2014
Return Version
2013v3.0
Gross Receipts
$1,807,970
Mission and Program Overview

Mission

To provide the best possible finanacial services to our members at competitive rates and to maintain the philosophy of members helping members. As a community chartered credit union, we support social and economic programs in the community.

To provide the best possible financial services to our members at competitive rates and to maintain the philosophy of members helping members. As a community chartered credit union, we support social and economic programs in the community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$19,132,584$0▼ $19,132,584
Other Notes and Loans Receivable, Net$14,890,479$0▼ $14,890,479
Rtn Earn Endowment Incm Other Fnds$3,851,904$0▼ $3,851,904
Cash and Non-Interest-Bearing Accounts$1,114,414$0▼ $1,114,414
Land, Buildings, and Equipment, Net$1,072,580$0▼ $1,072,580
Investments Program Related$894,287$0▼ $894,287
Prepaid Expenses and Deferred Charges$126,930$0▼ $126,930
Accounts Receivable$383$0▼ $383
Savings and Temporary Cash Investments-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments in Publicly Traded Securities-$0-
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$37,974,386$0▼ $37,974,386
Other Assets Total$742,729$0▼ $742,729
Liabilities
Other Liabilities$33,950,921$0▼ $33,950,921
Accounts Payable and Accrued Expenses$171,561--
Total Liabilities$34,122,482$0▼ $34,122,482
Net Assets / Fund Balance
Total Net Assets Fund Balance$3,851,904$0▼ $3,851,904
Total Liabilities and Net Assets / Fund Balance$37,974,386$0▼ $37,974,386
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Jane EdsonInterim CEOFT$116,600$116,600
Carol PijnappelsEvo of AccountingFT$95,078$95,078

Board Members and Trustees

NameTitle
Larry CampbellChairperson
Steve SchlichtVice Chairperson
Matthew KleekampSecretary
C Diana WebbTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,312,373
Investment Income
$178,054
Other Revenue
$0
Change in Net Assets
$-344,233
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,075,444
Salaries, Compensation, and Employee Benefits$759,216
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$380,905
Office Expenses---$264,970
Current Officers, Directors, Trustees, and Key Employees---$211,678
Depreciation Depletion---$137,450
Information Technology---$128,096
Interest---$80,628
Occupancy---$78,474
Other Employee Benefits---$70,256
Payroll Taxes---$55,713
Pension Plan Contributions---$40,664
Fees for Services Other---$27,703
Insurance---$24,667
Fees for Services Legal---$18,745
Advertising---$14,733
Fees for Services Accounting---$8,325
Other Expenses---$6,256
Conferences and Meetings---$6,041
All Other Expenses---$4,595
Fees for Services Management---$337
Total Functional Expenses$0$0$0$1,834,660
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 Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
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, Section A, Line 6

“The credit union has a single class of members with equal rights of ownership, governance and voting.”

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

“Board of directors are elected at the annual meeting for three year terms.”

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

“Membership approval is required for mergers and by-law changes.”

Form 990, Part VI, Section B, Line 11

“A copy of the 990 is provided to each board member prior to filing for review.”

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

“Conflicts of interest are required to be disclosed by members and employees.”

Form 990, Part VI, Section B, Line 15

“The interim ceo has an employment contract that was determined using compensation surveys that were approved by the board of directors. The board of directors determines the compensation for the evp of accounting.”

Form 990, Part VI, Section C, Line 19

“The financial statements are posted in the credit union lobby. All other documents and policies are available for review at the credit union upon request.”

Filing and Contact Details

Filer

EIN
38-1516865
Phone
9897920026

Signing Officer

Name
Nathan E Davidson
Title
Vice President, Finance
Phone
8102442927
Signed
2014-08-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Nathan E Davidson
Formed
1954
Legal Domicile
Mi
Voting Board Members
5
Independent Board Members
5
Employees
13
Volunteers
7

Preparer

Preparer
Jeffrey E Hert CPA
Phone
9896313131
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Organization merged as of 12/31/13 -3,507,671.”

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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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IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt12013-12-31
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IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/State1MI
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCode048507
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCode148507
IRS990ScheduleN/OwnerOfSuccessorInd00
IRS990ScheduleN/ReceiveCompensationInd00
IRS990ScheduleN/RequiredToNotifyAGInd01
IRS990ScheduleN/SupplementalInformationDetail/ExplanationTxt0PERSON(S) INVOLVED: CAROL PIJNAPPELS
IRS990ScheduleN/SupplementalInformationDetail/ExplanationTxt1EXPLANATION OF INVOLVEMENT: CAROL PIJNAPPELS, EVP OF ACCOUNTING WAS GIVEN THE JOB OF BRANCH MANAGER WITH FINANCIAL PLUS CREDIT UNION.
IRS990ScheduleN/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2E:
IRS990ScheduleN/SupplementalInformationDetail/FormAndLineReferenceDesc1PART I, LINE 2E:
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE CREDIT UNION HAS A SINGLE CLASS OF MEMBERS WITH EQUAL RIGHTS OF OWNERSHIP, GOVERNANCE AND VOTING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BOARD OF DIRECTORS ARE ELECTED AT THE ANNUAL MEETING FOR THREE YEAR TERMS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2MEMBERSHIP APPROVAL IS REQUIRED FOR MERGERS AND BY-LAW CHANGES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3A COPY OF THE 990 IS PROVIDED TO EACH BOARD MEMBER PRIOR TO FILING FOR REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CONFLICTS OF INTEREST ARE REQUIRED TO BE DISCLOSED BY MEMBERS AND EMPLOYEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE INTERIM CEO HAS AN EMPLOYMENT CONTRACT THAT WAS DETERMINED USING COMPENSATION SURVEYS THAT WERE APPROVED BY THE BOARD OF DIRECTORS. THE BOARD OF DIRECTORS DETERMINES THE COMPENSATION FOR THE EVP OF ACCOUNTING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE FINANCIAL STATEMENTS ARE POSTED IN THE CREDIT UNION LOBBY. ALL OTHER DOCUMENTS AND POLICIES ARE AVAILABLE FOR REVIEW AT THE CREDIT UNION UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7ORGANIZATION MERGED AS OF 12/31/13 -3,507,671.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART XI, LINE 9:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd01
IRS990/TotalAssetsBOYAmt037974386
IRS990/TotalAssetsEOYAmt00
IRS990/TotalAssetsGrp/BOYAmt037974386
IRS990/TotalAssetsGrp/EOYAmt00
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt013
IRS990/TotalFunctionalExpensesGrp/TotalAmt01834660
IRS990/TotalGrossUBIAmt013797
IRS990/TotalLiabilitiesBOYAmt034122482
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt034122482
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt03851904
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt00
IRS990/TotalOtherCompensationAmt00
IRS990/TotalOtherProgSrvcExpenseAmt01834660
IRS990/TotalProgramServiceExpensesAmt01834660
IRS990/TotalProgramServiceRevenueAmt01312373
IRS990/TotalReportableCompFromOrgAmt0211678
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01476630
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01490427
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt013797
IRS990/TotalVolunteersCnt07
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt037974386
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt00
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationOtherInd0X
IRS990/UnrelatedBusIncmOverLimitInd01
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine10G-3381 VAN SLYKE ROAD
IRS990/USAddress/City0FLINT
IRS990/USAddress/State0MI
IRS990/USAddress/ZIPCode048507
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.AMALCU.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02015-11-30 17:44:51Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0NATHAN E DAVIDSON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0VICE PRESIDENT, FINANCE
ReturnHeader/BusinessOfficerGrp/PhoneNum08102442927
ReturnHeader/BusinessOfficerGrp/SignatureDt02014-08-25
ReturnHeader/Filer/BusinessName/BusinessNameLine10AMALGAMATED CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0AMAL
ReturnHeader/Filer/EIN0381516865
ReturnHeader/Filer/PhoneNum09897920026
ReturnHeader/Filer/USAddress/AddressLine104686 FASHION SQUARE BLVD
ReturnHeader/Filer/USAddress/City0SAGINAW
ReturnHeader/Filer/USAddress/State0MI
ReturnHeader/Filer/USAddress/ZIPCode048604
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0383635706
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10REHMANN ROBSON LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine102816 JEFFERSON AVE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0MIDLAND
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0MI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode048640
ReturnHeader/PreparerPersonGrp/PhoneNum09896313131
ReturnHeader/PreparerPersonGrp/PreparationDt02014-08-12
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JEFFREY E HERT CPA
ReturnHeader/ReturnTs02014-08-25T15:02:57-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-01-01
ReturnHeader/TaxPeriodEndDt02013-12-31
ReturnHeader/TaxYr02013

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2013 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$0
Liabilities
$0
Net assets
$0
Revenue
$1,490,427
Expenses
$1,834,660
Net income
-$344,233
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2013Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$1.49$1.83$0.34
2012Summary only. Only limited summary data is available for this year.$38.0$34.1$3.85$1.37$2.48$1.11
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$40.5$35.5$5.07$2.27
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$41.0$35.7$5.31$2.86