Civic Intelligence

Credit Unions Chartered in the State of Michigan

990 • Fiscal year 2016 • EIN 38-1627377

Jan 01, 2016 to Dec 31, 2016 • Filed on May 02, 2017

Organization ProfileWWW.HARBORLIGHTCU.ORG
2151 Cogswell DriveWhitehall, MI 49461

(231) 894-5608

Siviq Scores

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

Liabilities / Assets

52nd percentile

0.90x

Higher debt load relative to assets than 52% of similar nonprofits.

2016 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2016

Liabilities / Revenue

50th percentile

18.25x

Higher debt load relative to revenue than 50% of similar nonprofits.

2016 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2016

Net Margin

39th percentile

7.9%

Higher net margin than 39% of similar nonprofits.

2016 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2016

Top Officer Pay

16th percentile

$137,933

Higher top officer pay than 16% of similar nonprofits.

Top officer pay equals 2.8% of source-year revenue.

2016 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2016

Asset Growth

76th percentile

7.3%

Faster asset growth than 76% of similar nonprofits.

2016 filings • 501(c)14 • $100M-$250M nonprofits • Annualized from 2015 to 2016

Revenue Growth

83rd percentile

13%

Faster revenue growth than 83% of similar nonprofits.

2016 filings • 501(c)14 • $100M-$250M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets52nd percentile

Assets

Up

$100,708,944

Up $6,893,938 (+7.3%) from 2015

Net Assets

Up

$10,526,578

Up $349,099 (+3.4%) from 2015

Liabilities

Up

$90,182,366

Up $6,544,839 (+7.8%) from 2015

Revenue And Expenses
Liabilities / Revenue50th percentileNet Margin39th percentile

Revenue

Up

$4,941,122

Up $554,167 (+13%) from 2015

Expenses

Up

$4,549,093

Up $326,117 (+7.7%) from 2015

Net Income

Up

$392,029

Up $228,050 (+139%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth76th percentile

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

$200M$150M$100M$50M$0Assets 2010: $82,331,692Liabilities 2010: $71,973,684Net Assets 2010: $10,358,0082010Assets 2011: $83,982,723Liabilities 2011: $73,917,650Net Assets 2011: $10,065,0732011Assets 2012: $85,622,331Liabilities 2012: $75,331,130Net Assets 2012: $10,291,2012012Assets 2013: $90,138,838Liabilities 2013: $80,236,877Net Assets 2013: $9,901,9612013Assets 2014: $92,731,726Liabilities 2014: $82,716,483Net Assets 2014: $10,015,2432014Assets 2015: $93,815,006Liabilities 2015: $83,637,527Net Assets 2015: $10,177,4792015Assets 2016: $100,708,944Liabilities 2016: $90,182,366Net Assets 2016: $10,526,5782016Assets 2017: $105,873,017Liabilities 2017: $95,400,463Net Assets 2017: $10,472,5542017Assets 2018: $110,064,269Liabilities 2018: $99,533,426Net Assets 2018: $10,530,8432018Assets 2019: $117,026,310Liabilities 2019: $105,984,137Net Assets 2019: $11,042,1732019Assets 2020: $141,924,533Liabilities 2020: $130,619,096Net Assets 2020: $11,305,4372020Assets 2021: $159,134,723Liabilities 2021: $147,164,822Net Assets 2021: $11,969,9012021Assets 2022: $169,930,532Liabilities 2022: $157,714,894Net Assets 2022: $12,215,6382022Assets 2023: $154,862,707Liabilities 2023: $140,267,851Net Assets 2023: $14,594,8562023Assets 2024: $157,142,997Liabilities 2024: $140,976,459Net Assets 2024: $16,166,5382024

Highlighted filing

2016

Assets$100,708,944
Liabilities$90,182,366
Net Assets$10,526,578
Open 2016 Filing

Operations Trend

Revenue Growth83rd percentile

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

$10M$5.0M$0-$5.0MExpenses 2010: $4,905,1492010Expenses 2011: $4,590,7162011Expenses 2012: $4,065,9992012Revenue 2013: $4,033,429Expenses 2013: $4,103,615Net Income 2013: -$70,1862013Revenue 2014: $4,057,056Expenses 2014: $4,106,579Net Income 2014: -$49,5232014Revenue 2015: $4,386,955Expenses 2015: $4,222,976Net Income 2015: $163,9792015Revenue 2016: $4,941,122Expenses 2016: $4,549,093Net Income 2016: $392,0292016Revenue 2017: $5,116,345Expenses 2017: $5,197,948Net Income 2017: -$81,6032017Revenue 2018: $5,840,017Expenses 2018: $5,768,452Net Income 2018: $71,5652018Revenue 2019: $6,558,237Expenses 2019: $6,114,575Net Income 2019: $443,6622019Revenue 2020: $6,422,924Expenses 2020: $6,233,159Net Income 2020: $189,7652020Revenue 2021: $6,554,490Expenses 2021: $5,845,336Net Income 2021: $709,1542021Revenue 2022: $7,219,078Expenses 2022: $6,395,474Net Income 2022: $823,6042022Revenue 2023: $8,649,191Expenses 2023: $7,399,927Net Income 2023: $1,249,2642023Revenue 2024: $9,882,520Expenses 2024: $8,467,512Net Income 2024: $1,415,0082024

Highlighted filing

2016

Revenue$4,941,122
Expenses$4,549,093
Net Income$392,029
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
May 2, 2017
Return Version
2016v3.0
Gross Receipts
$5,141,891
Mission and Program Overview

Mission

Harborlight credit union exists to improve the financial well-being of our members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$52,118,728$53,269,358▲ $1,150,630
Investments Program Related$16,563,700$20,050,700▲ $3,487,000
Savings and Temporary Cash Investments$14,793,363$16,777,829▲ $1,984,466
Rtn Earn Endowment Incm Other Fnds$10,177,479$10,526,578▲ $349,099
Investments in Publicly Traded Securities$5,365,375$4,357,652▼ $1,007,723
Land, Buildings, and Equipment, Net$1,438,382$2,166,654▲ $728,272
Cash and Non-Interest-Bearing Accounts$1,126,025$784,163▼ $341,862
Prepaid Expenses and Deferred Charges$178,022$91,044▼ $86,978
Total Assets$93,815,006$100,708,944▲ $6,893,938
Other Assets Total$2,231,411$3,211,544▲ $980,133
Liabilities
Other Liabilities$83,167,474$89,885,776▲ $6,718,302
Escrow Account Liability$154,348$157,850▲ $3,502
Accounts Payable and Accrued Expenses$315,705$138,740▼ $176,965
Total Liabilities$83,637,527$90,182,366▲ $6,544,839
Net Assets / Fund Balance
Total Net Assets Fund Balance$10,177,479$10,526,578▲ $349,099
Total Liabilities and Net Assets / Fund Balance$93,815,006$100,708,944▲ $6,893,938

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,764,547$973,048$2,737,595
Equipment$228,755$840,819$1,069,574
Land$173,352-$173,352
Investment Program Related Org$404,700--
Compensation and Service Providers
Top Officer Pay16th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Linda HugheyCEOFT$99,446$38,487$137,933
Barbara BlairCFOFT$48,296$13,418$61,714

Board Members and Trustees

NameTitle
Steve MayberryVice Chair
Allen RantBoard Presid
Kevin SpencerDirector
Leon KayDirector
Sharon SwaningerDirector
Rita KoshebaSecretary
Thomas GeorgeTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,064
Program Service Revenue
$4,293,328
Investment Income
$627,847
Other Revenue
$17,883
All Other Contributions
$2,064
Change in Net Assets
$392,029
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,117,904
Salaries, Compensation, and Employee Benefits$1,429,189
Grants and Similar Amounts Paid$2,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Office Expenses---$1,437,731
Other Salaries and Wages---$899,481
Information Technology---$357,418
Fees for Services Other---$339,461
Other Expenses---$219,209
Other Employee Benefits---$204,489
Current Officers, Directors, Trustees, and Key Employees---$147,742
Advertising---$95,632
Occupancy---$94,044
Pension Plan Contributions---$91,998
Payroll Taxes---$85,479
Depreciation Depletion---$80,326
Insurance---$78,695
Conferences and Meetings---$32,110
Travel---$26,841
Grants to Domestic Individuals---$2,000
Total Functional Expenses$0$0$0$4,549,093
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
Member Shares and Deposits$90,043,626
Adjust Escrow Accts to Line 21$-157,850
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, Page 6, Part VI, Line 6

“The organization has members. To be a member one must have a share (savings) account at the credit union.”

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

“The board of directors is elected by the credit union members. Each member has one vote.”

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

“A member vote is required for decisions which are beyond the authority of the board of directors. Items which require a membership vote are outlined and specified in our bylaws. Each member has one vote.”

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

“Management provides data to independent cpa to prepare the return. Management reviews the return for accuracy, and then authorizes the cpa to e-file the approved return. Management reviews the return with the directors at the next board meeting.”

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

“Policies are read and acknowledged annually by signing and are returned to ceo.”

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

“Ceo uses the cuna salary survey to determine wage brackets for each staff position and provides the ceo position bracket information to the board. The board reviews the ceo compensation at the annual wage meeting and determines final ceo compensation. The board decision to approve updated wages is noted in the board minutes.”

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

“Key employee compensation is determined by the ceo using the cuna salary survey to determine wage brackets for each staff position, and is done in accordance with the wage budget approved by the board of directors.”

Form 990, Page 6, Part VI, Line 19

“Governing documents and policies are available upon request. Financial statements are posted in the lobby.”

Filing and Contact Details

Filer

Filer Name
Harborlight Credit Unioin
EIN
38-1627377
Phone
2318945608
Address
2151 COGSWELL DRIVE, WHITEHALL, MI 49461

Signing Officer

Name
Linda Hughey
Title
CEO
Phone
2318945608
Signed
2017-05-02

Organization Details

Principal Officer
Linda Hughey
Formed
1954
Legal Domicile
Mi
Voting Board Members
6
Independent Board Members
6
Employees
41
Volunteers
10

Preparer

Preparer
Brent Wookey CPA
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 2, Part IV, Line 2B

“The credit union holds funds in escrow accounts for property taxes and homeowners insurance related to mortgage loans.”

Raw XML Appendix374 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
IRS990/AccountantCompileOrReviewInd0false
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt0315705
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt0138740
IRS990/ActivitiesConductedPrtshpInd0false
IRS990/ActivityOrMissionDesc0HARBORLIGHT CREDIT UNION EXISTS TO IMPROVE THE FINANCIAL WELL-BEING OF OUR MEMBERS.
IRS990/AdvertisingGrp/TotalAmt095632
IRS990/AllOtherContributionsAmt02064
IRS990/AnnualDisclosureCoveredPrsnInd0true
IRS990/BackupWthldComplianceInd0true
IRS990/BooksInCareOfDetail/PersonNm0BARBARA BLAIR
IRS990/BooksInCareOfDetail/PhoneNum02318945608
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt02151 COGSWELL DRIVE
IRS990/BooksInCareOfDetail/USAddress/CityNm0WHITEHALL
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0MI
IRS990/BooksInCareOfDetail/USAddress/ZIPCd049461
IRS990/BusinessRlnWithFamMemInd0false
IRS990/BusinessRlnWithOfficerEntInd0false
IRS990/BusinessRlnWithOrgMemInd0false
IRS990/CashNonInterestBearingGrp/BOYAmt01126025
IRS990/CashNonInterestBearingGrp/EOYAmt0784163
IRS990/ChangeToOrgDocumentsInd0false
IRS990/CollectionsOfArtInd0false
IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt0147742
IRS990/CompensationFromOtherSrcsInd0false
IRS990/CompensationProcessCEOInd0true
IRS990/CompensationProcessOtherInd0true
IRS990/ConferencesMeetingsGrp/TotalAmt032110
IRS990/ConflictOfInterestPolicyInd0true
IRS990/ConservationEasementsInd0false
IRS990/ConsolidatedAuditFinclStmtInd0false
IRS990/CreditCounselingInd0true
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt02064
IRS990/CYGrantsAndSimilarPaidAmt02000
IRS990/CYInvestmentIncomeAmt0627847
IRS990/CYOtherExpensesAmt03117904
IRS990/CYOtherRevenueAmt017883
IRS990/CYProgramServiceRevenueAmt04293328
IRS990/CYRevenuesLessExpensesAmt0392029
IRS990/CYSalariesCompEmpBnftPaidAmt01429189
IRS990/CYTotalExpensesAmt04549093
IRS990/CYTotalFundraisingExpenseAmt00
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt04941122
IRS990/DecisionsSubjectToApprovaInd0true
IRS990/DeductibleArtContributionInd0false
IRS990/DeductibleNonCashContriInd0false
IRS990/DelegationOfMgmtDutiesInd0false
IRS990/DepreciationDepletionGrp/TotalAmt080326
IRS990/Desc0THE CREDIT UNION HAS VARIOUS TYPES OF DEPOSIT ACCOUNTS AVAILABLE FOR OUR MEMBERS. WE OPENED 672 NEW DEPOSIT ACCOUNTS IN 2016. AS OF 12/31/16 WE HAD 10,079 MEMBERS.
IRS990/DescribedInSection501c3Ind0false
IRS990/DisregardedEntityInd0false
IRS990/DocumentRetentionPolicyInd0true
IRS990/DonorAdvisedFundInd0false
IRS990/ElectionOfBoardMembersInd0true
IRS990/EmployeeCnt041
IRS990/EmploymentTaxReturnsFiledInd0true
IRS990/EscrowAccountLiabilityGrp/BOYAmt0154348
IRS990/EscrowAccountLiabilityGrp/EOYAmt0157850
IRS990/FamilyOrBusinessRlnInd0false
IRS990/FeesForServicesOtherGrp/TotalAmt0339461
IRS990/ForeignActivitiesInd0false
IRS990/ForeignFinancialAccountInd0false
IRS990/ForeignOfficeInd0false
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt00.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt10.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt20.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt30.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt40.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt50.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt60.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt740.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt840.00
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd4X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd5X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd6X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OfficerInd2X
IRS990/Form990PartVIISectionAGrp/OfficerInd3X
IRS990/Form990PartVIISectionAGrp/OfficerInd4X
IRS990/Form990PartVIISectionAGrp/OfficerInd5X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt50
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt60
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt738487
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt813418
IRS990/Form990PartVIISectionAGrp/PersonNm0ALLEN RANT
IRS990/Form990PartVIISectionAGrp/PersonNm1STEVE MAYBERRY
IRS990/Form990PartVIISectionAGrp/PersonNm2THOMAS GEORGE
IRS990/Form990PartVIISectionAGrp/PersonNm3RITA KOSHEBA
IRS990/Form990PartVIISectionAGrp/PersonNm4SHARON SWANINGER
IRS990/Form990PartVIISectionAGrp/PersonNm5LEON KAY
IRS990/Form990PartVIISectionAGrp/PersonNm6KEVIN SPENCER
IRS990/Form990PartVIISectionAGrp/PersonNm7LINDA HUGHEY
IRS990/Form990PartVIISectionAGrp/PersonNm8BARBARA BLAIR
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt799446
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt848296
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/TitleTxt0BOARD PRESID
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt2TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt8CFO
IRS990/Form990ProvidedToGvrnBodyInd0false
IRS990/Form990TFiledInd0true
IRS990/FormationYr01954
IRS990/FormerOfcrEmployeesListedInd0false
IRS990/FSAuditedInd0false
IRS990/FundraisingActivitiesInd0false
IRS990/GainOrLossGrp/OtherAmt0141293
IRS990/GamingActivitiesInd0false
IRS990/GoverningBodyVotingMembersCnt06
IRS990/GrantsToDomesticIndividualsGrp/TotalAmt02000
IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossAmountSalesAssetsGrp/OtherAmt0342062
IRS990/GrossReceiptsAmt05141891
IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0false
IRS990/IndependentAuditFinclStmtInd0false
IRS990/IndependentVotingMemberCnt06
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InformationTechnologyGrp/TotalAmt0357418
IRS990/InsuranceGrp/TotalAmt078695
IRS990/InvestmentIncomeGrp/ExclusionAmt0486554
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0486554
IRS990/InvestmentInJointVentureInd0false
IRS990/InvestmentsProgramRelatedGrp/BOYAmt016563700
IRS990/InvestmentsProgramRelatedGrp/EOYAmt020050700
IRS990/InvestmentsPubTradedSecGrp/BOYAmt05365375
IRS990/InvestmentsPubTradedSecGrp/EOYAmt04357652
IRS990/IRPDocumentCnt02160
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt01813867
IRS990/LandBldgEquipBasisNetGrp/BOYAmt01438382
IRS990/LandBldgEquipBasisNetGrp/EOYAmt02166654
IRS990/LandBldgEquipCostOrOtherBssAmt03980521
IRS990/LegalDomicileStateCd0MI
IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt0200769
IRS990/LoanOutstandingInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0true
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0HARBORLIGHT CREDIT UNION EXISTS TO IMPROVE THE FINANCIAL WELL-BEING OF OUR MEMBERS.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/NetAssetsOrFundBalancesBOYAmt010177479
IRS990/NetAssetsOrFundBalancesEOYAmt010526578
IRS990/NetGainOrLossInvestmentsGrp/RelatedOrExemptFuncIncomeAmt0141293
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0141293
IRS990/NetUnrelatedBusTxblIncmAmt0-30637
IRS990/NetUnrlzdGainsLossesInvstAmt0-42930
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/TotalAmt094044
IRS990/OfficeExpensesGrp/TotalAmt01437731
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt02231411
IRS990/OtherAssetsTotalGrp/EOYAmt03211544
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0204489
IRS990/OtherExpensesGrp/Desc0DIVIDENDS EXP
IRS990/OtherExpensesGrp/Desc1PROVISION FOR LOAN LOSS
IRS990/OtherExpensesGrp/TotalAmt0356437
IRS990/OtherExpensesGrp/TotalAmt1219209
IRS990/OtherLiabilitiesGrp/BOYAmt083167474
IRS990/OtherLiabilitiesGrp/EOYAmt089885776
IRS990/OtherSalariesAndWagesGrp/TotalAmt0899481
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt052118728
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt053269358
IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/TotalAmt085479
IRS990/PensionPlanContributionsGrp/TotalAmt091998
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0178022
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt091044
IRS990/PrincipalOfficerNm0LINDA HUGHEY
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0522130
IRS990/ProgramServiceRevenueGrp/BusinessCd1522130
IRS990/ProgramServiceRevenueGrp/BusinessCd2522130
IRS990/ProgramServiceRevenueGrp/BusinessCd3522130
IRS990/ProgramServiceRevenueGrp/BusinessCd4541800
IRS990/ProgramServiceRevenueGrp/Desc0INTEREST ON LOANS
IRS990/ProgramServiceRevenueGrp/Desc1MEMBEER FEE INCOME
IRS990/ProgramServiceRevenueGrp/Desc2INTERCHANGE INCOME
IRS990/ProgramServiceRevenueGrp/Desc3OTHER MEMBER RELATED INCOME
IRS990/ProgramServiceRevenueGrp/Desc4ADVERTISING INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt02725850
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1878810
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2632783
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt337976
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt02725850
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1878810
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2632783
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt337976
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt48518
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt08518
IRS990/ProgSrvcAccomActy2Grp/Desc0THE CREDIT UNION HAS SEVERAL TYPES OF LOAN PROGRAMS AVAILABLE FOR OUR MEMBERS. WE FUNDED 1,267 NEW LOANS TO OUR MEMBERS DURING 2016. AS OF 12/31/16 WE HAD 5,741 LOANS TO OUR MEMBERS.
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYInvestmentIncomeAmt0462654
IRS990/PYOtherExpensesAmt02786529
IRS990/PYOtherRevenueAmt018618
IRS990/PYProgramServiceRevenueAmt03905683
IRS990/PYRevenuesLessExpensesAmt0163979
IRS990/PYSalariesCompEmpBnftPaidAmt01436447
IRS990/PYTotalExpensesAmt04222976
IRS990/PYTotalRevenueAmt04386955
IRS990/ReconcilationRevenueExpnssAmt0392029
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0true
IRS990/RoyaltiesRevenueGrp/ExclusionAmt017883
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt017883
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt010177479
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt010526578
IRS990/SavingsAndTempCashInvstGrp/BOYAmt014793363
IRS990/SavingsAndTempCashInvstGrp/EOYAmt016777829
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/AgentTrusteeEtcInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt01764547
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0973048
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02737595
IRS990ScheduleD/EquipmentGrp/BookValueAmt0228755
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0840819
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt01069574
IRS990ScheduleD/ExplanationProvidedInd0X
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0true
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt019646000
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt1404700
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0INVESTMENTS WITH MATURITY > 1 YR
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc1CAPITAL ACCTS CORPORATE CU
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd1C
IRS990ScheduleD/LandGrp/BookValueAmt0173352
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0173352
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt090043626
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1-157850
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MEMBER SHARES AND DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1ADJUST ESCROW ACCTS TO LINE 21
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CREDIT UNION HOLDS FUNDS IN ESCROW ACCOUNTS FOR PROPERTY TAXES AND HOMEOWNERS INSURANCE RELATED TO MORTGAGE LOANS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 2, PART IV, LINE 2B
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02166654
IRS990ScheduleD/TotalBookValueProgramRltdAmt020050700
IRS990ScheduleD/TotalLiabilityAmt089885776
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS MEMBERS. TO BE A MEMBER ONE MUST HAVE A SHARE (SAVINGS) ACCOUNT AT THE CREDIT UNION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD OF DIRECTORS IS ELECTED BY THE CREDIT UNION MEMBERS. EACH MEMBER HAS ONE VOTE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A MEMBER VOTE IS REQUIRED FOR DECISIONS WHICH ARE BEYOND THE AUTHORITY OF THE BOARD OF DIRECTORS. ITEMS WHICH REQUIRE A MEMBERSHIP VOTE ARE OUTLINED AND SPECIFIED IN OUR BYLAWS. EACH MEMBER HAS ONE VOTE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3MANAGEMENT PROVIDES DATA TO INDEPENDENT CPA TO PREPARE THE RETURN. MANAGEMENT REVIEWS THE RETURN FOR ACCURACY, AND THEN AUTHORIZES THE CPA TO E-FILE THE APPROVED RETURN. MANAGEMENT REVIEWS THE RETURN WITH THE DIRECTORS AT THE NEXT BOARD MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4POLICIES ARE READ AND ACKNOWLEDGED ANNUALLY BY SIGNING AND ARE RETURNED TO CEO.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5CEO USES THE CUNA SALARY SURVEY TO DETERMINE WAGE BRACKETS FOR EACH STAFF POSITION AND PROVIDES THE CEO POSITION BRACKET INFORMATION TO THE BOARD. THE BOARD REVIEWS THE CEO COMPENSATION AT THE ANNUAL WAGE MEETING AND DETERMINES FINAL CEO COMPENSATION. THE BOARD DECISION TO APPROVE UPDATED WAGES IS NOTED IN THE BOARD MINUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6KEY EMPLOYEE COMPENSATION IS DETERMINED BY THE CEO USING THE CUNA SALARY SURVEY TO DETERMINE WAGE BRACKETS FOR EACH STAFF POSITION, AND IS DONE IN ACCORDANCE WITH THE WAGE BUDGET APPROVED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7GOVERNING DOCUMENTS AND POLICIES ARE AVAILABLE UPON REQUEST. FINANCIAL STATEMENTS ARE POSTED IN THE LOBBY.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 6
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 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 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt093815006
IRS990/TotalAssetsEOYAmt0100708944
IRS990/TotalAssetsGrp/BOYAmt093815006
IRS990/TotalAssetsGrp/EOYAmt0100708944
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt02064
IRS990/TotalEmployeeCnt041
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt04549093
IRS990/TotalGrossUBIAmt017909
IRS990/TotalLiabilitiesBOYAmt083637527
IRS990/TotalLiabilitiesEOYAmt090182366
IRS990/TotalLiabilitiesGrp/BOYAmt083637527
IRS990/TotalLiabilitiesGrp/EOYAmt090182366
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt010177479
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt010526578
IRS990/TotalOtherCompensationAmt051905
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt09391
IRS990/TotalOthProgramServiceRevGrp/UnrelatedBusinessRevenueAmt09391
IRS990/TotalProgramServiceRevenueAmt04293328
IRS990/TotalReportableCompFromOrgAmt0147742
IRS990/TotalRevenueGrp/ExclusionAmt0504437
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt04416712
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt04941122
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt017909
IRS990/TotalVolunteersCnt010
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt093815006
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0100708944
IRS990/TravelGrp/TotalAmt026841
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0true
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02151 COGSWELL DRIVE
IRS990/USAddress/CityNm0WHITEHALL
IRS990/USAddress/StateAbbreviationCd0MI
IRS990/USAddress/ZIPCd049461
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0WWW.HARBORLIGHTCU.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/PersonNm0LINDA HUGHEY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum02318945608
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-05-02
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0HARBORLIGHT CREDIT UNIOIN
ReturnHeader/Filer/BusinessNameControlTxt0HARB
ReturnHeader/Filer/EIN0381627377
ReturnHeader/Filer/PhoneNum02318945608
ReturnHeader/Filer/USAddress/AddressLine1Txt02151 COGSWELL DRIVE
ReturnHeader/Filer/USAddress/CityNm0WHITEHALL
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MI
ReturnHeader/Filer/USAddress/ZIPCd049461
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId04C5A70F7A5FDA4811252E2883A9E531D3168B42F
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId04C5A70F7A5FDA4811252E2883A9E531D3168B42F
ReturnHeader/PreparerPersonGrp/PreparationDt02017-05-04
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BRENT WOOKEY CPA
ReturnHeader/ReturnTs02017-05-04T16:57:01-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$100,708,944
Liabilities
$90,182,366
Net assets
$10,526,578
Revenue
$4,941,122
Expenses
$4,549,093
Net income
$392,029
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$157$141$16.2$9.88$8.47$1.42
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$155$140$14.6$8.65$7.40$1.25
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$170$158$12.2$7.22$6.40$0.82
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$159$147$12.0$6.55$5.85$0.71
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$142$131$11.3$6.42$6.23$0.19
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$117$106$11.0$6.56$6.11$0.44
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$110$99.5$10.5$5.84$5.77$0.07
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$106$95.4$10.5$5.12$5.20$0.08
2016Detailed filing. Detailed filing data is available for this year.$101$90.2$10.5$4.94$4.55$0.39
2015Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$93.8$83.6$10.2$4.39$4.22$0.16
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$92.7$82.7$10.0$4.06$4.11$0.05
2013Detailed filing. Detailed filing data is available for this year.$90.1$80.2$9.90$4.03$4.10$0.07
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$85.6$75.3$10.3$4.07
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$84.0$73.9$10.1$4.59
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$82.3$72.0$10.4$4.91