Civic Intelligence

Credit Unions Chartered in the State of Michigan

990 • Fiscal year 2020 • EIN 38-1627377

Jan 01, 2020 to Dec 31, 2020 • Filed on May 12, 2021

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

84th percentile

0.92x

Higher debt load relative to assets than 84% of similar nonprofits.

2020 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2020

Liabilities / Revenue

53rd percentile

20.34x

Higher debt load relative to revenue than 53% of similar nonprofits.

2020 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2020

Net Margin

18th percentile

3.0%

Higher net margin than 18% of similar nonprofits.

2020 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2020

Top Officer Pay

21st percentile

$154,819

Higher top officer pay than 21% of similar nonprofits.

Top officer pay equals 2.4% of source-year revenue.

2020 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2020

Asset Growth

81st percentile

21%

Faster asset growth than 81% of similar nonprofits.

2020 filings • 501(c)14 • $100M-$250M nonprofits • Annualized from 2019 to 2020

Revenue Growth

51st percentile

-2.1%

Faster revenue growth than 51% of similar nonprofits.

2020 filings • 501(c)14 • $100M-$250M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets84th percentile

Assets

Up

$141,924,533

Up $24,898,223 (+21%) from 2019

Net Assets

Up

$11,305,437

Up $263,264 (+2.4%) from 2019

Liabilities

Up

$130,619,096

Up $24,634,959 (+23%) from 2019

Revenue And Expenses
Liabilities / Revenue53rd percentileNet Margin18th percentile

Revenue

Down

$6,422,924

Down $135,313 (-2.1%) from 2019

Expenses

Up

$6,233,159

Up $118,584 (+1.9%) from 2019

Net Income

Down

$189,765

Down $253,897 (-57%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth81st 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

2020

Assets$141,924,533
Liabilities$130,619,096
Net Assets$11,305,437
Open 2020 Filing

Operations Trend

Revenue Growth51st 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

2020

Revenue$6,422,924
Expenses$6,233,159
Net Income$189,765
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
May 12, 2021
Return Version
2020v4.0
Gross Receipts
$6,422,924
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$70,646,119$74,176,917▲ $3,530,798
Savings and Temporary Cash Investments$14,931,548$37,673,677▲ $22,742,129
Investments Program Related$20,288,700$19,076,700▼ $1,212,000
Rtn Earn Endowment Incm Other Fnds$11,042,173$11,305,437▲ $263,264
Land, Buildings, and Equipment, Net$2,869,851$2,737,921▼ $131,930
Cash and Non-Interest-Bearing Accounts$1,943,374$2,208,257▲ $264,883
Investments in Publicly Traded Securities$2,538,156$1,987,073▼ $551,083
Prepaid Expenses and Deferred Charges$100,483$166,504▲ $66,021
Accounts Receivable$3,379$2,105▼ $1,274
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$117,026,310$141,924,533▲ $24,898,223
Other Assets Total$3,704,700$3,895,379▲ $190,679
Liabilities
Other Liabilities$104,341,855$130,367,780▲ $26,025,925
Escrow Account Liability$326,774$179,305▼ $147,469
Accounts Payable and Accrued Expenses$1,315,508$72,011▼ $1,243,497
Total Liabilities$105,984,137$130,619,096▲ $24,634,959
Net Assets / Fund Balance
Total Net Assets Fund Balance$11,042,173$11,305,437▲ $263,264
Total Liabilities and Net Assets / Fund Balance$117,026,310$141,924,533▲ $24,898,223

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,325,896$1,261,496$3,587,392
Equipment$238,673$724,679$963,352
Land$173,352-$173,352
Compensation and Service Providers
Top Officer Pay21st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Justin BamfordCEOFT$126,330$28,489$154,819
Justin Bamford--$126,330$28,489$154,819
Stephanie WymanCOOFT$70,319$9,995$80,314
Barbara BlairCFOFT$62,874$9,534$72,408
Barbara BlairCEO-$62,874$9,534$72,408
Chris HarrisSecretaryFT$61,250-$61,250

Board Members and Trustees

NameTitle
Steven MayberryChairperson
Rita KoshebaVice Chair
Lee AndrewsDirector
Sharon SwaningerDirector
Steven SalterDirector
Donna Vangeison-
Larry GoldnerCLO
Allen RantTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
FiservCore Processor/Card Proc75 Remittance Dr, Chicago, IL 60675$1,055,840
Revenue and Support

Revenue Composition

Contributions and Grants
$1,500
Program Service Revenue
$5,661,926
Investment Income
$759,498
Other Revenue
$0
Change in Net Assets
$189,765
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,392,209
Salaries, Compensation, and Employee Benefits$1,840,950
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$1,185,760
Information Technology---$783,295
Interest---$629,560
Office Expenses---$336,696
Current Officers, Directors, Trustees, and Key Employees---$296,383
Fees for Services Other---$231,986
Advertising---$195,235
Depreciation Depletion---$172,156
Other Employee Benefits---$154,172
Payroll Taxes---$113,736
Occupancy---$103,614
Pension Plan Contributions---$90,899
Conferences and Meetings---$59,459
Other Expenses---$58,232
All Other Expenses---$53,920
Insurance---$51,670
Total Functional Expenses$0$0$0$6,233,159
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Member Shares & Deposits$130,547,085
Escrow Balances to Line 21 Bal Sheet$-179,305
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 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder

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

Form 990, Part VI, Line 7A: How Members or Shareholders Elect Governing Body

“The Board of Directors is elected by the Credit Union members. Each member has one vote.”

Form 990, Part VI, Line 7B: Describe Decisions of Governing Body Approval by Members or Shareholders

“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, Part VI, Line 11B: Form 990 Review Process

“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, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“Policy read and acknowledged annually by signing and are returned to CEO.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“The Board of Directors is provided CUNA salary survey information for the CEO position. The board reviews the CEO compensation at the annual wage meeting and determines the CEO compensation. The Board decision to approve updated compensation is noted inthe Board minutes.”

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

“Key employee compensation is determined by the CEO and CFO using the CUNA salary survey to determine wage brackets for each position. The Board of Directors approves the updated compensation.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“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
Justin Bamford
Title
CEO
Signed
2021-05-12
Discuss with paid preparer
Yes

Organization Details

Formed
1954
Legal Domicile
Mi
Voting Board Members
7
Independent Board Members
7
Employees
49
Volunteers
9

Preparer

Firm
Financial Standards Group Inc
Address
6447 W HIGHWAY 146, CRESTWOOD, KY 40014
Preparer
Patrick Haughey
Phone
8005225820
Raw XML AppendixShowing 400 of 453 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/BOYAmt01315508
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt072011
IRS990/AccountsReceivableGrp/BOYAmt03379
IRS990/AccountsReceivableGrp/EOYAmt02105
IRS990/ActivitiesConductedPrtshpInd0false
IRS990/ActivityOrMissionDesc0HarborLight Credit Union exists to improve the financial well-being of our members.
IRS990/AdvertisingGrp/TotalAmt0195235
IRS990/AllOtherExpensesGrp/TotalAmt053920
IRS990/AnnualDisclosureCoveredPrsnInd0true
IRS990/BackupWthldComplianceInd0true
IRS990/BenefitsToMembersGrp/TotalAmt00
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/BusinessRlnWith35CtrlEntInd0false
IRS990/BusinessRlnWithFamMemInd0false
IRS990/BusinessRlnWithOrgMemInd0false
IRS990/CashNonInterestBearingGrp/BOYAmt01943374
IRS990/CashNonInterestBearingGrp/EOYAmt02208257
IRS990/ChangeToOrgDocumentsInd0false
IRS990/CntrctRcvdGreaterThan100KCnt01
IRS990/CollectionsOfArtInd0false
IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt0296383
IRS990/CompDisqualPersonsGrp/TotalAmt00
IRS990/CompensationFromOtherSrcsInd0false
IRS990/CompensationProcessCEOInd0true
IRS990/CompensationProcessOtherInd0true
IRS990/ConferencesMeetingsGrp/TotalAmt059459
IRS990/ConflictOfInterestPolicyInd0true
IRS990/ConservationEasementsInd0false
IRS990/ConsolidatedAuditFinclStmtInd0false
IRS990/ContractorCompensationGrp/CompensationAmt01055840
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/AddressLine1Txt075 Remittance Dr
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/CityNm0Chicago
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/StateAbbreviationCd0IL
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/ZIPCd060675
IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt0Fiserv
IRS990/ContractorCompensationGrp/ServicesDesc0Core Processor/Card Proc
IRS990/CreditCounselingInd0true
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt01500
IRS990/CYGrantsAndSimilarPaidAmt00
IRS990/CYInvestmentIncomeAmt0759498
IRS990/CYOtherExpensesAmt04392209
IRS990/CYOtherRevenueAmt00
IRS990/CYProgramServiceRevenueAmt05661926
IRS990/CYRevenuesLessExpensesAmt0189765
IRS990/CYSalariesCompEmpBnftPaidAmt01840950
IRS990/CYTotalExpensesAmt06233159
IRS990/CYTotalFundraisingExpenseAmt00
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt06422924
IRS990/DecisionsSubjectToApprovaInd0true
IRS990/DeductibleArtContributionInd0false
IRS990/DeductibleNonCashContriInd0false
IRS990/DelegationOfMgmtDutiesInd0false
IRS990/DepreciationDepletionGrp/TotalAmt0172156
IRS990/Desc0The Credit Union has various types of deposit accounts available for our members. As of 12/31/2020 we had 10,741 members.
IRS990/DescribedInSection501c3Ind0false
IRS990/DisregardedEntityInd0false
IRS990/DocumentRetentionPolicyInd0true
IRS990/DonorAdvisedFundInd0false
IRS990/DonorRstrOrQuasiEndowmentsInd0false
IRS990/ElectionOfBoardMembersInd0true
IRS990/EmployeeCnt049
IRS990/EmploymentTaxReturnsFiledInd0true
IRS990/EscrowAccountLiabilityGrp/BOYAmt0326774
IRS990/EscrowAccountLiabilityGrp/EOYAmt0179305
IRS990/FamilyOrBusinessRlnInd0false
IRS990/FederalGrantAuditRequiredInd0false
IRS990/FeesForServicesAccountingGrp/TotalAmt00
IRS990/FeesForServicesLegalGrp/TotalAmt00
IRS990/FeesForServicesLobbyingGrp/TotalAmt00
IRS990/FeesForServicesManagementGrp/TotalAmt00
IRS990/FeesForServicesOtherGrp/TotalAmt0231986
IRS990/FeesForServicesProfFundraising/TotalAmt00
IRS990/FeesForSrvcInvstMgmntFeesGrp/TotalAmt00
IRS990/ForeignActivitiesInd0false
IRS990/ForeignFinancialAccountInd0false
IRS990/ForeignGrantsGrp/TotalAmt00
IRS990/ForeignOfficeInd0false
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt00.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt10.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt20.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt30.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt40.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt50.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt60.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt70.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt80.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt90.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt100.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt110.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt040.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt140.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt240.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt340.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt41.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt51.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt61.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt71.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt81.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt91.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt101.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt110.00
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/OtherCompensationAmt028489
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt19995
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt29534
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt50
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt60
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt70
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt80
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt90
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt100
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt110
IRS990/Form990PartVIISectionAGrp/PersonNm0Justin Bamford
IRS990/Form990PartVIISectionAGrp/PersonNm1Stephanie Wyman
IRS990/Form990PartVIISectionAGrp/PersonNm2Barbara Blair
IRS990/Form990PartVIISectionAGrp/PersonNm3Chris Harris
IRS990/Form990PartVIISectionAGrp/PersonNm4Rita Kosheba
IRS990/Form990PartVIISectionAGrp/PersonNm5Steven Mayberry
IRS990/Form990PartVIISectionAGrp/PersonNm6Allen Rant
IRS990/Form990PartVIISectionAGrp/PersonNm7Sharon Swaninger
IRS990/Form990PartVIISectionAGrp/PersonNm8Steven Salter
IRS990/Form990PartVIISectionAGrp/PersonNm9Lee Andrews
IRS990/Form990PartVIISectionAGrp/PersonNm10Larry Goldner
IRS990/Form990PartVIISectionAGrp/PersonNm11Donna Vangeison
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt0126330
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt170319
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt262874
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt361250
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt110
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/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt110
IRS990/Form990PartVIISectionAGrp/TitleTxt0CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt1COO
IRS990/Form990PartVIISectionAGrp/TitleTxt2CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt3Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt4Vice Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt5Chairperson
IRS990/Form990PartVIISectionAGrp/TitleTxt6Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
IRS990/Form990PartVIISectionAGrp/TitleTxt9Director
IRS990/Form990PartVIISectionAGrp/TitleTxt10CLO
IRS990/Form990ProvidedToGvrnBodyInd0false
IRS990/Form990TFiledInd0true
IRS990/FormationYr01954
IRS990/FormerOfcrEmployeesListedInd0true
IRS990/FSAuditedInd0false
IRS990/FundraisingActivitiesInd0false
IRS990/GamingActivitiesInd0false
IRS990/GoverningBodyVotingMembersCnt07
IRS990/GovernmentGrantsAmt01500
IRS990/GrantsToDomesticIndividualsGrp/TotalAmt00
IRS990/GrantsToDomesticOrgsGrp/TotalAmt00
IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossReceiptsAmt06422924
IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0false
IRS990/IncmFromInvestBondProceedsGrp/TotalRevenueColumnAmt00
IRS990/IndependentAuditFinclStmtInd0false
IRS990/IndependentVotingMemberCnt07
IRS990/IndivRcvdGreaterThan100KCnt01
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InformationTechnologyGrp/TotalAmt0783295
IRS990/InsuranceGrp/TotalAmt051670
IRS990/IntangibleAssetsGrp/EOYAmt00
IRS990/InterestGrp/TotalAmt0629560
IRS990/InventoriesForSaleOrUseGrp/EOYAmt00
IRS990/InvestmentIncomeGrp/RelatedOrExemptFuncIncomeAmt0759498
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0759498
IRS990/InvestmentInJointVentureInd0false
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt00
IRS990/InvestmentsProgramRelatedGrp/BOYAmt020288700
IRS990/InvestmentsProgramRelatedGrp/EOYAmt019076700
IRS990/InvestmentsPubTradedSecGrp/BOYAmt02538156
IRS990/InvestmentsPubTradedSecGrp/EOYAmt01987073
IRS990/IRPDocumentCnt02718
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt01986175
IRS990/LandBldgEquipBasisNetGrp/BOYAmt02869851
IRS990/LandBldgEquipBasisNetGrp/EOYAmt02737921
IRS990/LandBldgEquipCostOrOtherBssAmt04724096
IRS990/LegalDomicileStateCd0MI
IRS990/LoanOutstandingInd0false
IRS990/LocalChaptersInd0true
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/NetAssetsOrFundBalancesBOYAmt011042173
IRS990/NetAssetsOrFundBalancesEOYAmt011305437
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt00
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetUnrelatedBusTxblIncmAmt0-1464
IRS990/NetUnrlzdGainsLossesInvstAmt073499
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/TotalAmt0103614
IRS990/OfficeExpensesGrp/TotalAmt0336696
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt03704700
IRS990/OtherAssetsTotalGrp/EOYAmt03895379
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0154172
IRS990/OtherExpensesGrp/Desc0Loan Servicing Expense
IRS990/OtherExpensesGrp/Desc1ATM Transaction fees
IRS990/OtherExpensesGrp/Desc2Provision for Loan Losses
IRS990/OtherExpensesGrp/Desc3Postage and Shipping
IRS990/OtherExpensesGrp/TotalAmt0775224
IRS990/OtherExpensesGrp/TotalAmt1550639
IRS990/OtherExpensesGrp/TotalAmt2390523
IRS990/OtherExpensesGrp/TotalAmt358232
IRS990/OtherLiabilitiesGrp/BOYAmt0104341855
IRS990/OtherLiabilitiesGrp/EOYAmt0130367780
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/TotalAmt01185760
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt070646119
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt074176917
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayrollTaxesGrp/TotalAmt0113736
IRS990/PensionPlanContributionsGrp/TotalAmt090899
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliciesReferenceChaptersInd0true
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0100483
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0166504
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0522100
IRS990/ProgramServiceRevenueGrp/BusinessCd1522100
IRS990/ProgramServiceRevenueGrp/BusinessCd2522100
IRS990/ProgramServiceRevenueGrp/BusinessCd3522100
IRS990/ProgramServiceRevenueGrp/Desc0ANCILLARY LOAN PRODUCTS
IRS990/ProgramServiceRevenueGrp/Desc1Interchange Income
IRS990/ProgramServiceRevenueGrp/Desc2Interest on Loans
IRS990/ProgramServiceRevenueGrp/Desc3Member Fee Income
IRS990/ProgramServiceRevenueGrp/Desc4Other Mbr Related Income
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0854338
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt13816823
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2822153
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt363554
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt076700
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1854338
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt23816823
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt3822153
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt463554
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt076700
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 2020. As of 12/31/2020 we had 6,395 loans to our members.
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt02000
IRS990/PYInvestmentIncomeAmt0991103
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt04337168
IRS990/PYProgramServiceRevenueAmt05565134
IRS990/PYRevenuesLessExpensesAmt0443662
IRS990/PYSalariesCompEmpBnftPaidAmt01777407
IRS990/PYTotalExpensesAmt06114575
IRS990/PYTotalRevenueAmt06558237
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0189765
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0true
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt011042173
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt011305437
IRS990/SavingsAndTempCashInvstGrp/BOYAmt014931548
IRS990/SavingsAndTempCashInvstGrp/EOYAmt037673677
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/AgentTrusteeEtcInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt02325896
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01261496
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt03587392
IRS990ScheduleD/EquipmentGrp/BookValueAmt0238673
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0724679
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0963352
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0true
IRS990ScheduleD/LandGrp/BookValueAmt0173352
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0173352
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0-179305
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1130547085
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Escrow Balances to Line 21 Bal Sheet
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Member Shares & Deposits
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02737921
IRS990ScheduleD/TotalBookValueProgramRltdAmt019076700
IRS990ScheduleD/TotalLiabilityAmt0130367780
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt062874
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt1126330
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt05878
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt110299
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt03656
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt118190
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0Barbara Blair
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1Justin Bamford
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt072408
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt1154819
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
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/ExplanationTxt4Policy read and acknowledged annually by signing and are returned to CEO.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5The Board of Directors is provided CUNA salary survey information for the CEO position. The board reviews the CEO compensation at the annual wage meeting and determines the CEO compensation. The Board decision to approve updated compensation is noted inthe Board minutes.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Key employee compensation is determined by the CEO and CFO using the CUNA salary survey to determine wage brackets for each position. The Board of Directors approves the updated compensation.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7Governing documents and policies are available upon request. Financial statements are posted in the lobby.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 7a: How Members or Shareholders Elect Governing Body
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 7b: Describe Decisions of Governing Body Approval by Members or Shareholders
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0117026310
IRS990/TotalAssetsEOYAmt0141924533
IRS990/TotalAssetsGrp/BOYAmt0117026310
IRS990/TotalAssetsGrp/EOYAmt0141924533
IRS990/TotalCompGreaterThan150KInd0true
IRS990/TotalContributionsAmt01500
IRS990/TotalEmployeeCnt049
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt06233159
IRS990/TotalGrossUBIAmt0105058
IRS990/TotalLiabilitiesBOYAmt0105984137
IRS990/TotalLiabilitiesEOYAmt0130619096
IRS990/TotalLiabilitiesGrp/BOYAmt0105984137
IRS990/TotalLiabilitiesGrp/EOYAmt0130619096
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt011042173
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt011305437
IRS990/TotalOtherCompensationAmt048018
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt028358

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$141,924,533
Liabilities
$130,619,096
Net assets
$11,305,437
Revenue
$6,422,924
Expenses
$6,233,159
Net income
$189,765
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
2020Detailed filing. Detailed filing data is available for this year.$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
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