Civic Intelligence

Credit Unions Chartered in the State of Michigan

990 • Fiscal year 2015 • EIN 38-1614337

Jan 01, 2015 to Dec 31, 2015 • Filed on May 18, 2016

Organization ProfileWWW.WDMCU.ORG

View Organization Page

201 36th Street SEGrand Rapids, MI 49548-2213

(616) 241-2516

Siviq Scores

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

Liabilities / Assets

15th percentile

0.83x

Higher debt load relative to assets than 15% of similar nonprofits.

2015 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2015

Liabilities / Revenue

44th percentile

19.52x

Higher debt load relative to revenue than 44% of similar nonprofits.

2015 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2015

Net Margin

52nd percentile

7.9%

Higher net margin than 52% of similar nonprofits.

2015 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2015

Top Officer Pay

75th percentile

$118,500

Higher top officer pay than 75% of similar nonprofits.

Top officer pay equals 7.3% of source-year revenue.

2015 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2015

Asset Growth

89th percentile

9.0%

Faster asset growth than 89% of similar nonprofits.

2015 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2014 to 2015

Revenue Growth

1st percentile

-21%

Faster revenue growth than 1% of similar nonprofits.

2015 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets15th percentile

Assets

Up

$38,440,381

Up $3,167,134 (+9.0%) from 2014

Net Assets

Down

$6,650,207

Down $399,978 (-5.7%) from 2014

Liabilities

Up

$31,790,174

Up $3,567,112 (+13%) from 2014

Revenue And Expenses
Liabilities / Revenue44th percentileNet Margin52nd percentile

Revenue

Down

$1,628,233

Down $424,321 (-21%) from 2014

Expenses

Up

$1,499,794

Up $26,572 (+1.8%) from 2014

Net Income

Down

$128,439

Down $450,893 (-78%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth89th percentile

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

$60M$40M$20M$0Assets 2010: $34,381,563Liabilities 2010: $28,599,909Net Assets 2010: $5,781,6542010Assets 2011: $36,032,772Liabilities 2011: $30,151,761Net Assets 2011: $5,881,0112011Assets 2012: $37,018,507Liabilities 2012: $30,289,352Net Assets 2012: $6,729,1552012Assets 2013: $36,250,028Liabilities 2013: $29,813,985Net Assets 2013: $6,436,0432013Assets 2014: $35,273,247Liabilities 2014: $28,223,062Net Assets 2014: $7,050,1852014Assets 2015: $38,440,381Liabilities 2015: $31,790,174Net Assets 2015: $6,650,2072015Assets 2016: $39,088,682Liabilities 2016: $32,311,216Net Assets 2016: $6,777,4662016Assets 2017: $39,522,426Liabilities 2017: $32,846,400Net Assets 2017: $6,676,0262017Assets 2018: $39,057,694Liabilities 2018: $32,572,121Net Assets 2018: $6,485,5732018Assets 2019: $39,081,227Liabilities 2019: $32,186,356Net Assets 2019: $6,894,8712019Assets 2020: $45,348,254Liabilities 2020: $38,453,259Net Assets 2020: $6,894,9952020Assets 2021: $49,763,359Liabilities 2021: $42,726,953Net Assets 2021: $7,036,4062021Assets 2022: $0Liabilities 2022: $0Net Assets 2022: $02022

Highlighted filing

2015

Assets$38,440,381
Liabilities$31,790,174
Net Assets$6,650,207
Open 2015 Filing

Operations Trend

Revenue Growth1st percentile

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $1,832,7732010Expenses 2011: $1,701,8792011Expenses 2012: $1,575,6692012Revenue 2013: $1,769,649Expenses 2013: $1,624,540Net Income 2013: $145,1092013Revenue 2014: $2,052,554Expenses 2014: $1,473,222Net Income 2014: $579,3322014Revenue 2015: $1,628,233Expenses 2015: $1,499,794Net Income 2015: $128,4392015Revenue 2016: $1,618,059Expenses 2016: $1,499,328Net Income 2016: $118,7312016Revenue 2017: $1,728,913Expenses 2017: $1,623,172Net Income 2017: $105,7412017Revenue 2018: $1,849,922Expenses 2018: $1,727,980Net Income 2018: $121,9422018Revenue 2019: $1,877,971Expenses 2019: $1,768,465Net Income 2019: $109,5062019Revenue 2020: $1,619,777Expenses 2020: $1,670,693Net Income 2020: -$50,9162020Revenue 2021: $1,504,918Expenses 2021: $2,107,827Net Income 2021: -$602,9092021Revenue 2022: $354,149Expenses 2022: $714,071Net Income 2022: -$359,9222022

Highlighted filing

2015

Revenue$1,628,233
Expenses$1,499,794
Net Income$128,439
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
May 18, 2016
Return Version
2015v2.1
Gross Receipts
$1,628,233
Mission and Program Overview

Mission

Organized and operated without profit for the purpose of promoting thrift, providing credit at reasonable rates, and providing other financial services to its members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$18,624,754$18,311,317▼ $313,437
Other Notes and Loans Receivable, Net$13,168,664$13,209,652▲ $40,988
Rtn Earn Endowment Incm Other Fnds$7,050,185$6,650,207▼ $399,978
Cash and Non-Interest-Bearing Accounts$1,938,655$5,490,183▲ $3,551,528
Investments Other Securities$942,330$733,288▼ $209,042
Land, Buildings, and Equipment, Net$222,819$197,595▼ $25,224
Total Assets$35,273,247$38,440,381▲ $3,167,134
Other Assets Total$376,025$498,346▲ $122,321
Liabilities
Other Liabilities$28,566,544$31,741,822▲ $3,175,278
Accounts Payable and Accrued Expenses$-343,482$48,352▲ $391,834
Total Liabilities$28,223,062$31,790,174▲ $3,567,112
Net Assets / Fund Balance
Total Net Assets Fund Balance$7,050,185$6,650,207▼ $399,978
Total Liabilities and Net Assets / Fund Balance$35,273,247$38,440,381▲ $3,167,134

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$175,372-$175,372
Equipment$22,223-$22,223
Compensation and Service Providers
Top Officer Pay75th percentile

Employees

NameTitleFull / Part TimeBaseTotal
David T KeimCEOFT$118,500$118,500
Terri NieuwkoopCOOFT$96,555$96,555

Board Members and Trustees

NameTitle
David ZawackiChairman
Steve KenyonVice Chairma
Gail AndersonDirector
Joseph CoutureDirector
Laura BrownDirector
Michael HardimanDirector
Scott CollinsDirector
TIMOTHY O'DONNELLDirector
Edward BesemerSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$445,410
Investment Income
$1,182,823
Other Revenue
$0
Change in Net Assets
$128,439
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$759,065
Other Expenses$740,729
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$759,065
Office Expenses---$238,892
Fees for Services Other---$187,335
Occupancy---$118,449
Interest---$85,738
Other Expenses---$15,687
All Other Expenses---$3,000
Total Functional Expenses$0$0$0$1,499,794
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
Total Shares & Deposits$31,741,822
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
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, Page 6, Part VI, Line 7A

“Members are the owners of the credit union and they elect their board of directors in a democratic one-person-one-vote system regardless of the amount of money invested in the credit union.”

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

“Day-to-day operations is managed by the ceo. The monitoring and oversight of the officers and approval of key policies, such as interest rates, services, etc. Are established by the board. The members vote in the board and only vote on major issues, such as changes in the charter or structure of the credit union.”

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

“No review was or will be conducted.”

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

“The board of directors is responsible for reviewing job performance and establishing compensation levels for the ceo.”

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

“The board of directors with assistance from the ceo is responsible for reviewing job performance and establishing compensation levels for the other key officer(s).”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Western Districts Members
EIN
38-1614337
Phone
6162412516
Address
201 36TH STREET SE, GRAND RAPIDS, MI 49548-2213

Signing Officer

Name
David T Keim
Title
CEO
Phone
6162412516
Signed
2016-05-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David T Keim
Legal Domicile
Mi
Voting Board Members
9
Independent Board Members
9
Employees
12

Preparer

Firm
Miles V Schmidt CPA Plc
Address
750 FRONT AVE NW SUITE 315, GRAND RAPIDS, MI 49504-4400
Preparer
Miles V Schmidt CPA
Phone
6167420400
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

“Please review website at www.wdmcu.org”

Form 990, Part IX, Line 11G

“OTHER FEES 187,335 0 0”

Form 990, Part XI, Line 9

“Net change in accumulated unrealized g/l -528,417 total -528,417”

Raw XML Appendix334 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.

Path#Value
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IRS990/BooksInCareOfDetail/USAddress/CityNm0GRAND RAPIDS
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt100
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IRS990/Form990PartVIISectionAGrp/PersonNm6EDWARD BESEMER
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IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt10COO
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TOTAL SHARES & DEPOSITS
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IRS990ScheduleD/TotalLiabilityAmt031741822
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IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PLEASE REVIEW WEBSITE AT WWW.WDMCU.ORG
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MEMBERS ARE THE OWNERS OF THE CREDIT UNION AND THEY ELECT THEIR BOARD OF DIRECTORS IN A DEMOCRATIC ONE-PERSON-ONE-VOTE SYSTEM REGARDLESS OF THE AMOUNT OF MONEY INVESTED IN THE CREDIT UNION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DAY-TO-DAY OPERATIONS IS MANAGED BY THE CEO. THE MONITORING AND OVERSIGHT OF THE OFFICERS AND APPROVAL OF KEY POLICIES, SUCH AS INTEREST RATES, SERVICES, ETC. ARE ESTABLISHED BY THE BOARD. THE MEMBERS VOTE IN THE BOARD AND ONLY VOTE ON MAJOR ISSUES, SUCH AS CHANGES IN THE CHARTER OR STRUCTURE OF THE CREDIT UNION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE BOARD OF DIRECTORS IS RESPONSIBLE FOR REVIEWING JOB PERFORMANCE AND ESTABLISHING COMPENSATION LEVELS FOR THE CEO.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE BOARD OF DIRECTORS WITH ASSISTANCE FROM THE CEO IS RESPONSIBLE FOR REVIEWING JOB PERFORMANCE AND ESTABLISHING COMPENSATION LEVELS FOR THE OTHER KEY OFFICER(S).
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7OTHER FEES 187,335 0 0
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8NET CHANGE IN ACCUMULATED UNREALIZED G/L -528,417 TOTAL -528,417
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PART XI, LINE 9
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt035273247
IRS990/TotalAssetsEOYAmt038440381
IRS990/TotalAssetsGrp/BOYAmt035273247
IRS990/TotalAssetsGrp/EOYAmt038440381
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt012
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt01499794
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt028223062
IRS990/TotalLiabilitiesEOYAmt031790174
IRS990/TotalLiabilitiesGrp/BOYAmt028223062
IRS990/TotalLiabilitiesGrp/EOYAmt031790174
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt07050185
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt06650207
IRS990/TotalProgramServiceRevenueAmt0445410
IRS990/TotalReportableCompFromOrgAmt0215055
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01628233
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01628233
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt035273247
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt038440381
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt07636 APPLE HILL CT SE
IRS990/USAddress/CityNm0ADA
IRS990/USAddress/StateAbbreviationCd0MI
IRS990/USAddress/ZIPCd0493019323
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0WWW.WDMCU.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-12-15 16:53:06Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DAVID T KEIM
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum06162412516
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-05-18
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WESTERN DISTRICTS MEMBERS
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0WEST
ReturnHeader/Filer/EIN0381614337
ReturnHeader/Filer/PhoneNum06162412516
ReturnHeader/Filer/USAddress/AddressLine1Txt0201 36TH STREET SE
ReturnHeader/Filer/USAddress/CityNm0GRAND RAPIDS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MI
ReturnHeader/Filer/USAddress/ZIPCd0495482213
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0383581667
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MILES V SCHMIDT CPA PLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0750 FRONT AVE NW SUITE 315
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0GRAND RAPIDS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0495044400
ReturnHeader/PreparerPersonGrp/PhoneNum06167420400
ReturnHeader/PreparerPersonGrp/PreparationDt02016-05-18
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MILES V SCHMIDT CPA
ReturnHeader/ReturnTs02016-08-01T14:27:42-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-01-01
ReturnHeader/TaxPeriodEndDt02015-12-31
ReturnHeader/TaxYr02015

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$38,440,381
Liabilities
$31,790,174
Net assets
$6,650,207
Revenue
$1,628,233
Expenses
$1,499,794
Net income
$128,439
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.35$0.71$0.36
2021Detailed filing. Detailed filing data is available for this year.$49.8$42.7$7.04$1.50$2.11$0.60
2020Detailed filing. Detailed filing data is available for this year.$45.3$38.5$6.89$1.62$1.67$0.05
2019Detailed filing. Detailed filing data is available for this year.$39.1$32.2$6.89$1.88$1.77$0.11
2018Detailed filing. Detailed filing data is available for this year.$39.1$32.6$6.49$1.85$1.73$0.12
2017Detailed filing. Detailed filing data is available for this year.$39.5$32.8$6.68$1.73$1.62$0.11
2016Detailed filing. Detailed filing data is available for this year.$39.1$32.3$6.78$1.62$1.50$0.12
2015Detailed filing. Detailed filing data is available for this year.$38.4$31.8$6.65$1.63$1.50$0.13
2014Detailed filing. Detailed filing data is available for this year.$35.3$28.2$7.05$2.05$1.47$0.58
2013Detailed filing. Detailed filing data is available for this year.$36.3$29.8$6.44$1.77$1.62$0.15
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$37.0$30.3$6.73$1.58
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$36.0$30.2$5.88$1.70
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$34.4$28.6$5.78$1.83