Civic Intelligence

Menominee Area Credit Union

EIN 38-1555308 • 501(c)14 • Menominee, MI

Profile

Menominee area credit union is a small michigan state chartered credit union providing members with affordable loan account services,savings,checking accounts, and atm internet banking. We are committed to helping our member-owners achieve their financial goals by offering them lower interest rates, higher saving rates and charging fewer fees. We have served the area for over 60 years.

1011 23rd AvenueMenominee, MI 49858
Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on the latest valid filing.

Source year 2017

Liabilities / Revenue

96th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)14 • <$500k nonprofits • Source year 2017

Net Margin

11th percentile

-572%

Higher net margin than 11% of similar nonprofits.

501(c)14 • <$500k nonprofits • Source year 2017

Top Officer Pay

62nd percentile

$39,152

Higher top officer pay than 62% of similar nonprofits.

Top officer pay equals 15.0% of source-year revenue.

501(c)14 • <$500k nonprofits • Source year 2017

Asset Growth

95th percentile

-100%

Faster asset growth than 95% of similar nonprofits.

501(c)14 • <$500k nonprofits • Annualized from 2016 to 2017

Revenue Growth

72nd percentile

-21%

Faster revenue growth than 72% of similar nonprofits.

501(c)14 • <$500k nonprofits • Annualized from 2016 to 2017

Assets

Down

$0

Down $9,027,590 (-100%) from 2016

Liabilities

Down

$0

Down $7,531,347 (-100%) from 2016

Net Assets

Down

$0

Down $1,496,243 (-100%) from 2016

Revenue

Down

$261,737

Down $70,291 (-21%) from 2016

Expenses

Up

$1,758,061

Up $1,424,822 (+428%) from 2016

Net Income

Down

-$1,496,324

Down $1,495,113 (-123461%) from 2016

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$10M$5.0M$0Assets 2010: $7,261,324Liabilities 2010: $5,805,812Net Assets 2010: $1,455,5122010Assets 2011: $7,721,081Liabilities 2011: $6,279,160Net Assets 2011: $1,441,9212011Assets 2012: $8,153,181Liabilities 2012: $6,703,401Net Assets 2012: $1,449,7802012Assets 2013: $7,837,586Liabilities 2013: $6,374,084Net Assets 2013: $1,463,5022013Assets 2014: $8,319,335Liabilities 2014: $6,832,258Net Assets 2014: $1,487,0772014Assets 2015: $8,804,142Liabilities 2015: $7,306,688Net Assets 2015: $1,497,4542015Assets 2016: $9,027,590Liabilities 2016: $7,531,347Net Assets 2016: $1,496,2432016Assets 2017: $0Liabilities 2017: $0Net Assets 2017: $02017

Highlighted filing

2017

Assets$0
Liabilities$0
Net Assets$0

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$2.0M$1.0M$0-$1.0M-$2.0MExpenses 2010: $316,4532010Revenue 2011: $294,120Expenses 2011: $307,710Net Income 2011: -$13,5902011Expenses 2012: $297,7472012Revenue 2013: $303,846Expenses 2013: $290,123Net Income 2013: $13,7232013Revenue 2014: $304,003Expenses 2014: $280,428Net Income 2014: $23,5752014Revenue 2015: $315,975Expenses 2015: $305,598Net Income 2015: $10,3772015Revenue 2016: $332,028Expenses 2016: $333,239Net Income 2016: -$1,2112016Revenue 2017: $261,737Expenses 2017: $1,758,061Net Income 2017: -$1,496,3242017

Highlighted filing

2017

Revenue$261,737
Expenses$1,758,061
Net Income-$1,496,324

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Apr 20, 2018
Return Version
2017v2.3
Gross Receipts
$261,737
Mission and Program Overview

Mission

Menominee area credit union is a small michigan state chartered credit union providing members with affordable loan account services,savings,checking accounts, and atm internet banking. We are committed to helping our member-owners achieve their financial goals by offering them lower interest rates, higher saving rates and charging fewer fees. We have served the area for over 60 years.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$4,233,904--
Investments Other Securities$4,192,043--
Rtn Earn Endowment Incm Other Fnds$1,496,243--
Savings and Temporary Cash Investments$196,822--
Land, Buildings, and Equipment, Net$174,594--
Cash and Non-Interest-Bearing Accounts$91,967--
Investments Program Related$71,488--
Receivables From Officers Etc$50,451--
Prepaid Expenses and Deferred Charges$5,795--
Total Assets$9,027,590$0▼ $9,027,590
Other Assets Total$10,526--
Liabilities
Other Liabilities$7,497,764--
Accounts Payable and Accrued Expenses$33,583--
Total Liabilities$7,531,347$0▼ $7,531,347
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,496,243$0▼ $1,496,243
Total Liabilities and Net Assets / Fund Balance$9,027,590$0▼ $9,027,590
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Mindy BrezskoTreasurerFT$39,152$39,152
Michelle BeardsleyCredit CmttePT$17,362$17,362

Board Members and Trustees

NameTitle
Michael KaufmanPresident
Gerald BrixBoard Member
Irene HeimbuchBoard Member
Mike WindbergBoard Member
Jerry St PeterCredit Commi
Joel HensleyCredit Commi
Joyce AllgeyerCredit Commi
Michael KrahCredit Commi
Patrick BerresSecretary
John BehrendVice-preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$211,375
Investment Income
$44,339
Other Revenue
$6,023
Change in Net Assets
$-1,496,324

Audited Revenue Reconciliation

Revenue per Audited Statements
$261,737
Total Revenue per Audited Statements
$261,737
Total Revenue per Form 990
$261,737
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,254,448
Salaries, Compensation, and Employee Benefits$143,927
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$1,035,012--$1,035,012
Benefits to Members$359,686--$359,686
Office Expenses$123,273--$123,273
Other Salaries and Wages$122,682--$122,682
Fees for Services Other$46,675--$46,675
Depreciation Depletion$15,552--$15,552
Occupancy$12,886--$12,886
Payroll Taxes$12,054--$12,054
Insurance$11,768--$11,768
Pension Plan Contributions$7,430--$7,430
Fees for Services Accounting$6,634--$6,634
Conferences and Meetings$1,918--$1,918
Other Employee Benefits$1,761--$1,761
Advertising$730--$730
Total Functional Expenses$1,758,061$0$0$1,758,061

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,758,061
Total Expenses per Audited Statements$1,758,061
Total Expenses per Form 990$1,758,061
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$50,451--
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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, Page 6, Part VI, Line 6

MEMBERS

Form 990, Page 6, Part VI, Line 7A

BY MEMBERS

Form 990, Page 6, Part VI, Line 11B

No review was or will be conducted.

Form 990, Page 6, Part VI, Line 12C

Reviewed at each board meeting any conflict of interest and approve necessary action.

Form 990, Page 6, Part VI, Line 15A

Reviewed at annual board meetings

Form 990, Page 6, Part VI, Line 15B

Reviewed at annual board meeting

Form 990, Page 6, Part VI, Line 18

Also made available at annual meeting

Form 990, Page 6, Part VI, Line 19

No documents available to the public

Filing and Contact Details

Filer

Filer Name
Credit Union Chartered in St of Mi
EIN
38-1555308
Phone
9068633854
Address
1011 23RD AVENUE, MENOMINEE, MI 49858
Doing Business As
Menominee Area Credit Union

Signing Officer

Name
Mindy Brezsko
Title
Treasurer
Phone
9068633854
Signed
2018-04-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mindy Brezsko
Formed
1954
Legal Domicile
Mi
Voting Board Members
7
Independent Board Members
6
Employees
6
Volunteers
10

Preparer

Firm
Johnson & Rennie LLC
Address
900 26TH STREET, MENOMINEE, MI 49858
Preparer
Carl R Sorensen CPA
Phone
9068634457
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

Menominee area credit union is a small michigan state chartered credit union providing members with affordable loan account services,savings,checking accounts, and atm internet banking. We are committed to helping our member-owners achieve their financial goals by offering them lower interest rates, higher saving rates and charging fewer fees. We have served the area for over 60 years.

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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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IRS990/ReportOtherAssetsInd0false
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IRS990ScheduleD/TotalRevenuePerForm990Amt0261737
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IRS990ScheduleN/DispositionOfAssetsDetail/AssetsDistriOrExpnssPaidDesc0TRANSFER
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IRS990ScheduleN/DispositionOfAssetsDetail/EIN0390945701
IRS990ScheduleN/DispositionOfAssetsDetail/FairMarketValueOfAssetAmt09011492
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IRS990ScheduleN/DispositionOfAssetsDetail/MethodOfFMVDeterminationTxt0BOOK VALUE
IRS990ScheduleN/DispositionOfAssetsDetail/PersonNm0CO ADVANTAGE CREDIT UNION
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/AddressLine1Txt0723 SIXTH AVENUE
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/CityNm0ANTIGO
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/StateAbbreviationCd0WI
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/ZIPCd054409
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MENOMINEE AREA CREDIT UNION IS A SMALL MICHIGAN STATE CHARTERED CREDIT UNION PROVIDING MEMBERS WITH AFFORDABLE LOAN ACCOUNT SERVICES,SAVINGS,CHECKING ACCOUNTS, AND ATM INTERNET BANKING. WE ARE COMMITTED TO HELPING OUR MEMBER-OWNERS ACHIEVE THEIR FINANCIAL GOALS BY OFFERING THEM LOWER INTEREST RATES, HIGHER SAVING RATES AND CHARGING FEWER FEES. WE HAVE SERVED THE AREA FOR OVER 60 YEARS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MEMBERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2BY MEMBERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4REVIEWED AT EACH BOARD MEETING ANY CONFLICT OF INTEREST AND APPROVE NECESSARY ACTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5REVIEWED AT ANNUAL BOARD MEETINGS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6REVIEWED AT ANNUAL BOARD MEETING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7ALSO MADE AVAILABLE AT ANNUAL MEETING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TotalFunctionalExpensesGrp/TotalAmt01758061
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IRS990/TotalLiabilitiesEOYAmt00
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt00
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IRS990/TotalReportableCompFromOrgAmt056514
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0258577
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0261737
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt03160
IRS990/TotalVolunteersCnt010
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt09027590
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt00
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IRS990/UnrelatedBusIncmOverLimitInd0true
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02305 16TH AVENUE
IRS990/USAddress/CityNm0MENOMINEE
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IRS990/USAddress/ZIPCd049858
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ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0MINDY BREZSKO
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum09068633854
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-04-20
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CREDIT UNION CHARTERED IN ST OF MI
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0399 MENOMINEE AREA CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0CRED
ReturnHeader/Filer/EIN0381555308
ReturnHeader/Filer/PhoneNum09068633854
ReturnHeader/Filer/USAddress/AddressLine1Txt01011 23RD AVENUE
ReturnHeader/Filer/USAddress/CityNm0MENOMINEE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MI
ReturnHeader/Filer/USAddress/ZIPCd049858
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId007611684CF7B32A64F7B993DE3503C2F1ADEEC4C
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId007611684CF7B32A64F7B993DE3503C2F1ADEEC4C
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt024.123.90.162
ReturnHeader/FilingSecurityInformation/IPDt02018-05-01
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm013:01:25
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0392039897
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0JOHNSON & RENNIE LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0900 26TH STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MENOMINEE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd049858
ReturnHeader/PreparerPersonGrp/PhoneNum09068634457
ReturnHeader/PreparerPersonGrp/PreparationDt02018-04-30
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CARL R SORENSEN CPA
ReturnHeader/ReturnTs02018-05-01T13:01:25-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

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