Civic Intelligence

Credit Unions Chartered in the State of Michigan

990 • Fiscal year 2017 • EIN 38-1627377

Jan 01, 2017 to Dec 31, 2017 • Filed on May 03, 2018

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

60th percentile

0.90x

Higher debt load relative to assets than 60% of similar nonprofits.

2017 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2017

Liabilities / Revenue

55th percentile

18.65x

Higher debt load relative to revenue than 55% of similar nonprofits.

2017 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2017

Net Margin

6th percentile

-1.6%

Higher net margin than 6% of similar nonprofits.

2017 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2017

Top Officer Pay

13th percentile

$139,261

Higher top officer pay than 13% of similar nonprofits.

Top officer pay equals 2.7% of source-year revenue.

2017 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2017

Asset Growth

65th percentile

5.1%

Faster asset growth than 65% of similar nonprofits.

2017 filings • 501(c)14 • $100M-$250M nonprofits • Annualized from 2016 to 2017

Revenue Growth

32nd percentile

3.5%

Faster revenue growth than 32% of similar nonprofits.

2017 filings • 501(c)14 • $100M-$250M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets60th percentile

Assets

Up

$105,873,017

Up $5,164,073 (+5.1%) from 2016

Net Assets

Down

$10,472,554

Down $54,024 (-0.5%) from 2016

Liabilities

Up

$95,400,463

Up $5,218,097 (+5.8%) from 2016

Revenue And Expenses
Liabilities / Revenue55th percentileNet Margin6th percentile

Revenue

Up

$5,116,345

Up $175,223 (+3.5%) from 2016

Expenses

Up

$5,197,948

Up $648,855 (+14%) from 2016

Net Income

Down

-$81,603

Down $473,632 (-121%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth65th 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

2017

Assets$105,873,017
Liabilities$95,400,463
Net Assets$10,472,554
Open 2017 Filing

Operations Trend

Revenue Growth32nd 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

2017

Revenue$5,116,345
Expenses$5,197,948
Net Income-$81,603
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
May 3, 2018
Return Version
2017v2.3
Gross Receipts
$5,116,345
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$53,269,358$54,226,133▲ $956,775
Investments Program Related$20,050,700$25,734,700▲ $5,684,000
Savings and Temporary Cash Investments$16,777,829$14,097,167▼ $2,680,662
Rtn Earn Endowment Incm Other Fnds$10,526,578$10,472,554▼ $54,024
Investments in Publicly Traded Securities$4,357,652$3,544,599▼ $813,053
Land, Buildings, and Equipment, Net$2,166,654$3,108,052▲ $941,398
Cash and Non-Interest-Bearing Accounts$784,163$1,641,109▲ $856,946
Prepaid Expenses and Deferred Charges$91,044$164,202▲ $73,158
Total Assets$100,708,944$105,873,017▲ $5,164,073
Other Assets Total$3,211,544$3,357,055▲ $145,511
Liabilities
Other Liabilities$89,885,776$95,288,563▲ $5,402,787
Escrow Account Liability$157,850$153,530▼ $4,320
Accounts Payable and Accrued Expenses$138,740$-41,630▼ $180,370
Total Liabilities$90,182,366$95,400,463▲ $5,218,097
Net Assets / Fund Balance
Total Net Assets Fund Balance$10,526,578$10,472,554▼ $54,024
Total Liabilities and Net Assets / Fund Balance$100,708,944$105,873,017▲ $5,164,073

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,473,474$1,036,243$3,509,717
Equipment$461,226$906,274$1,367,500
Land$173,352-$173,352
Investment Program Related Org$404,700--
Compensation and Service Providers
Top Officer Pay13th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Linda HugheyCEOFT$105,459$33,802$139,261
Barbara BlairCFOFT$52,219$11,591$63,810

Board Members and Trustees

NameTitle
Allen RantChair
Steve MayberryVice Chair
Kevin SpencerDirector
Leon KayDirector
Sharon SwaningerDirector
Rita KoshebaSecretary
Thomas GeorgeTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
FiservCore &card Proc75 REMITTANCE DRIVE, Chicago, IL 60675$1,147,304
Clifford Buck ConstructionBldg Constructn500 IRWIN AVE, Muskegon, MI 49442$542,398
John M Floyd & AssociatesCourtesy Pay125 N BURNET DR, Baytown, TX 77520$154,719
CorneliusCash Recyclers3966 ELEVEN MILE RD, Berkley, MI 48072$118,012
Revenue and Support

Revenue Composition

Contributions and Grants
$1,000
Program Service Revenue
$4,434,994
Investment Income
$641,400
Other Revenue
$38,951
All Other Contributions
$1,000
Change in Net Assets
$-81,603
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,602,505
Salaries, Compensation, and Employee Benefits$1,593,443
Grants and Similar Amounts Paid$2,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Office Expenses---$1,501,662
Other Salaries and Wages---$1,025,681
Information Technology---$405,625
Other Expenses---$390,026
Fees for Services Other---$383,258
Other Employee Benefits---$214,758
Depreciation Depletion---$166,848
Current Officers, Directors, Trustees, and Key Employees---$157,678
Occupancy---$116,752
Payroll Taxes---$101,670
Advertising---$97,636
Pension Plan Contributions---$93,656
Insurance---$75,333
Conferences and Meetings---$46,492
Travel---$26,241
Grants to Domestic Individuals---$1,500
Grants to Domestic Orgs---$500
Interest---$3
Total Functional Expenses$0$0$0$5,197,948
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$95,442,093
Escrow Balances to Line 21 Bal Sheet$-153,530
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
Yes
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 4

“In 2017 the bylaws were updated to not allow nominations from the floor at the annual meeting for open board positions.”

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

“Policy 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 the 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 Union
EIN
38-1627377
Phone
2318945608
Address
2151 COGSWELL DRIVE, WHITEHALL, MI 49461

Signing Officer

Name
Linda Hughey
Title
CEO
Phone
2318945608
Signed
2018-05-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Linda Hughey
Formed
1954
Legal Domicile
Mi
Voting Board Members
7
Independent Board Members
7
Employees
43
Volunteers
10

Preparer

Firm
Brent Wookey CPA
Address
PO BOX 1512, LA CROSSE, WI 54602-1512
Preparer
Brent Wookey CPA
Phone
6087920843
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 AppendixShowing 400 of 419 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/BOYAmt0138740
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt0-41630
IRS990/ActivitiesConductedPrtshpInd0false
IRS990/ActivityOrMissionDesc0HARBORLIGHT CREDIT UNION EXISTS TO IMPROVE THE FINANCIAL WELL-BEING OF OUR MEMBERS.
IRS990/AdvertisingGrp/TotalAmt097636
IRS990/AllOtherContributionsAmt01000
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/BOYAmt0784163
IRS990/CashNonInterestBearingGrp/EOYAmt01641109
IRS990/ChangeToOrgDocumentsInd0true
IRS990/CntrctRcvdGreaterThan100KCnt04
IRS990/CollectionsOfArtInd0false
IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt0157678
IRS990/CompensationFromOtherSrcsInd0false
IRS990/CompensationProcessCEOInd0true
IRS990/CompensationProcessOtherInd0true
IRS990/ConferencesMeetingsGrp/TotalAmt046492
IRS990/ConflictOfInterestPolicyInd0true
IRS990/ConservationEasementsInd0false
IRS990/ConsolidatedAuditFinclStmtInd0false
IRS990/ContractorCompensationGrp/CompensationAmt01147304
IRS990/ContractorCompensationGrp/CompensationAmt1542398
IRS990/ContractorCompensationGrp/CompensationAmt2154719
IRS990/ContractorCompensationGrp/CompensationAmt3118012
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/AddressLine1Txt075 REMITTANCE DRIVE
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/AddressLine1Txt1500 IRWIN AVE
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/AddressLine1Txt2125 N BURNET DR
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/AddressLine1Txt33966 ELEVEN MILE RD
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/CityNm0CHICAGO
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/CityNm1MUSKEGON
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/CityNm2BAYTOWN
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/CityNm3BERKLEY
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/StateAbbreviationCd0IL
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/StateAbbreviationCd1MI
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/StateAbbreviationCd2TX
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/StateAbbreviationCd3MI
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/ZIPCd060675
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/ZIPCd149442
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/ZIPCd277520
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/ZIPCd348072
IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt0FISERV
IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt1CLIFFORD BUCK CONSTRUCTION
IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt2JOHN M FLOYD & ASSOCIATES
IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt3CORNELIUS
IRS990/ContractorCompensationGrp/ServicesDesc0CORE &CARD PROC
IRS990/ContractorCompensationGrp/ServicesDesc1BLDG CONSTRUCTN
IRS990/ContractorCompensationGrp/ServicesDesc2COURTESY PAY
IRS990/ContractorCompensationGrp/ServicesDesc3CASH RECYCLERS
IRS990/CreditCounselingInd0true
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt01000
IRS990/CYGrantsAndSimilarPaidAmt02000
IRS990/CYInvestmentIncomeAmt0641400
IRS990/CYOtherExpensesAmt03602505
IRS990/CYOtherRevenueAmt038951
IRS990/CYProgramServiceRevenueAmt04434994
IRS990/CYRevenuesLessExpensesAmt0-81603
IRS990/CYSalariesCompEmpBnftPaidAmt01593443
IRS990/CYTotalExpensesAmt05197948
IRS990/CYTotalFundraisingExpenseAmt00
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt05116345
IRS990/DecisionsSubjectToApprovaInd0true
IRS990/DeductibleArtContributionInd0false
IRS990/DeductibleNonCashContriInd0false
IRS990/DelegationOfMgmtDutiesInd0false
IRS990/DepreciationDepletionGrp/TotalAmt0166848
IRS990/Desc0THE CREDIT UNION HAS VARIOUS TYPES OF DEPOSIT ACCOUNTS AVAILABLE FOR OUR MEMBERS. WE OPENED 1,029 NEW DEPOSIT ACCOUNTS IN 2017. AS OF 12/31/17 WE HAD 10,266 MEMBERS.
IRS990/DescribedInSection501c3Ind0false
IRS990/DisregardedEntityInd0false
IRS990/DocumentRetentionPolicyInd0true
IRS990/DonorAdvisedFundInd0false
IRS990/ElectionOfBoardMembersInd0true
IRS990/EmployeeCnt043
IRS990/EmploymentTaxReturnsFiledInd0true
IRS990/EscrowAccountLiabilityGrp/BOYAmt0157850
IRS990/EscrowAccountLiabilityGrp/EOYAmt0153530
IRS990/FamilyOrBusinessRlnInd0false
IRS990/FeesForServicesOtherGrp/TotalAmt0383258
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/OtherCompensationAmt733802
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt811591
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/ReportableCompFromOrgAmt7105459
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt852219
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/TitleTxt0CHAIR
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/GamingActivitiesInd0false
IRS990/GoverningBodyVotingMembersCnt07
IRS990/GrantsToDomesticIndividualsGrp/TotalAmt01500
IRS990/GrantsToDomesticOrgsGrp/TotalAmt0500
IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossReceiptsAmt05116345
IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0false
IRS990/IndependentAuditFinclStmtInd0false
IRS990/IndependentVotingMemberCnt07
IRS990/IndivRcvdGreaterThan100KCnt01
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InformationTechnologyGrp/TotalAmt0405625
IRS990/InsuranceGrp/TotalAmt075333
IRS990/InterestGrp/TotalAmt03
IRS990/InvestmentIncomeGrp/ExclusionAmt0641400
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0641400
IRS990/InvestmentInJointVentureInd0false
IRS990/InvestmentsProgramRelatedGrp/BOYAmt020050700
IRS990/InvestmentsProgramRelatedGrp/EOYAmt025734700
IRS990/InvestmentsPubTradedSecGrp/BOYAmt04357652
IRS990/InvestmentsPubTradedSecGrp/EOYAmt03544599
IRS990/IRPDocumentCnt02259
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt01942517
IRS990/LandBldgEquipBasisNetGrp/BOYAmt02166654
IRS990/LandBldgEquipBasisNetGrp/EOYAmt03108052
IRS990/LandBldgEquipCostOrOtherBssAmt05050569
IRS990/LegalDomicileStateCd0MI
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/NetAssetsOrFundBalancesBOYAmt010526578
IRS990/NetAssetsOrFundBalancesEOYAmt010472554
IRS990/NetUnrelatedBusTxblIncmAmt0-30797
IRS990/NetUnrlzdGainsLossesInvstAmt027579
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/TotalAmt0116752
IRS990/OfficeExpensesGrp/TotalAmt01501662
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt03211544
IRS990/OtherAssetsTotalGrp/EOYAmt03357055
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0214758
IRS990/OtherExpensesGrp/Desc0PROVISION FOR LOAN LOSS
IRS990/OtherExpensesGrp/Desc1DIVIDENDS EXPENSE
IRS990/OtherExpensesGrp/TotalAmt0392629
IRS990/OtherExpensesGrp/TotalAmt1390026
IRS990/OtherLiabilitiesGrp/BOYAmt089885776
IRS990/OtherLiabilitiesGrp/EOYAmt095288563
IRS990/OtherSalariesAndWagesGrp/TotalAmt01025681
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt053269358
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt054226133
IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/TotalAmt0101670
IRS990/PensionPlanContributionsGrp/TotalAmt093656
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt091044
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0164202
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/RelatedOrExemptFuncIncomeAmt02731185
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1953270
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2663810
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt360505
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt02731185
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1953270
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2663810
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt360505
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt414506
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt014506
IRS990/ProgSrvcAccomActy2Grp/Desc0THE CREDIT UNION HAS SEVERAL TYPES OF LOAN PROGRAMS AVAILABLE FOR OUR MEMBERS. WE FUNDED 1,073 NEW LOANS TO OUR MEMBERS DURING 2017. AS OF 12/31/17 WE HAD 5,690 LOANS TO OUR MEMBERS.
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt02064
IRS990/PYGrantsAndSimilarPaidAmt02000
IRS990/PYInvestmentIncomeAmt0627847
IRS990/PYOtherExpensesAmt03117904
IRS990/PYOtherRevenueAmt017883
IRS990/PYProgramServiceRevenueAmt04293328
IRS990/PYRevenuesLessExpensesAmt0392029
IRS990/PYSalariesCompEmpBnftPaidAmt01429189
IRS990/PYTotalExpensesAmt04549093
IRS990/PYTotalRevenueAmt04941122
IRS990/ReconcilationRevenueExpnssAmt0-81603
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0true
IRS990/RoyaltiesRevenueGrp/ExclusionAmt038951
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt038951
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt010526578
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt010472554
IRS990/SavingsAndTempCashInvstGrp/BOYAmt016777829
IRS990/SavingsAndTempCashInvstGrp/EOYAmt014097167
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/AgentTrusteeEtcInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt02473474
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01036243
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt03509717
IRS990ScheduleD/EquipmentGrp/BookValueAmt0461226
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0906274
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt01367500
IRS990ScheduleD/ExplanationProvidedInd0X
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0true
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt025330000
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/Amt095442093
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1-153530
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MEMBER SHARES AND DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1ESCROW BALANCES TO LINE 21 BAL SHEET
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/TotalBookValueLandBuildingsAmt03108052
IRS990ScheduleD/TotalBookValueProgramRltdAmt025734700
IRS990ScheduleD/TotalLiabilityAmt095288563
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0IN 2017 THE BYLAWS WERE UPDATED TO NOT ALLOW NOMINATIONS FROM THE FLOOR AT THE ANNUAL MEETING FOR OPEN BOARD POSITIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION HAS MEMBERS. TO BE A MEMBER ONE MUST HAVE A SHARE (SAVINGS) ACCOUNT AT THE CREDIT UNION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD OF DIRECTORS IS ELECTED BY THE CREDIT UNION MEMBERS. EACH MEMBER HAS ONE VOTE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3A 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/ExplanationTxt4MANAGEMENT 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/ExplanationTxt5POLICY READ AND ACKNOWLEDGED ANNUALLY BY SIGNING AND ARE RETURNED TO CEO.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6CEO 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 THE CEO COMPENSATION. THE BOARD DECISION TO APPROVE UPDATED WAGES IS NOTED IN THE BOARD MINUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7KEY 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/ExplanationTxt8GOVERNING DOCUMENTS AND POLICIES ARE AVAILABLE UPON REQUEST. FINANCIAL STATEMENTS ARE POSTED IN THE LOBBY.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 4
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 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0100708944
IRS990/TotalAssetsEOYAmt0105873017
IRS990/TotalAssetsGrp/BOYAmt0100708944
IRS990/TotalAssetsGrp/EOYAmt0105873017
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt01000
IRS990/TotalEmployeeCnt043
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt05197948
IRS990/TotalGrossUBIAmt026224
IRS990/TotalLiabilitiesBOYAmt090182366
IRS990/TotalLiabilitiesEOYAmt095400463
IRS990/TotalLiabilitiesGrp/BOYAmt090182366
IRS990/TotalLiabilitiesGrp/EOYAmt095400463
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt010526578
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt010472554
IRS990/TotalOtherCompensationAmt045393
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt011718
IRS990/TotalOthProgramServiceRevGrp/UnrelatedBusinessRevenueAmt011718
IRS990/TotalProgramServiceRevenueAmt04434994
IRS990/TotalReportableCompFromOrgAmt0157678
IRS990/TotalRevenueGrp/ExclusionAmt0680351
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt04408770
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt05116345
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt026224
IRS990/TotalVolunteersCnt010
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0100708944
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0105873017
IRS990/TravelGrp/TotalAmt026241
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0true
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02151 COGSWELL DRIVE
IRS990/USAddress/CityNm0WHITEHALL
IRS990/USAddress/StateAbbreviationCd0MI
IRS990/USAddress/ZIPCd049461
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0WWW.HARBORLIGHTCU.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0LINDA HUGHEY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum02318945608
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-05-03
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0HARBORLIGHT CREDIT UNION
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/AtSubmissionCreationDeviceId09BC338CFDC890234D28751759F3912E6BC56CABB
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId09BC338CFDC890234D28751759F3912E6BC56CABB
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$105,873,017
Liabilities
$95,400,463
Net assets
$10,472,554
Revenue
$5,116,345
Expenses
$5,197,948
Net income
-$81,603
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
2017Detailed filing. Detailed filing data is available for this year.$106$95.4$10.5$5.12$5.20$0.08
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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