Civic Intelligence

Bissell Employees Credit Union

990 • Fiscal year 2014 • EIN 38-1653492

Jan 01, 2014 to Dec 31, 2014 • Filed on May 04, 2015

Organization Profilewww.bissellcu.com
2345 Walker Avenue NWGrand Rapids, MI 49544

(616) 791-0631

Siviq Scores

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

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on this filing.

Source year 2014

Liabilities / Revenue

57th percentile

0.00x

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

2014 filings • <$500k nonprofits • Source year 2014

Net Margin

4th percentile

-236%

Higher net margin than 4% of similar nonprofits.

2014 filings • <$500k nonprofits • Source year 2014

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2014

Asset Growth

1st percentile

-100%

Faster asset growth than 1% of similar nonprofits.

2014 filings • <$500k nonprofits • Annualized from 2013 to 2014

Revenue Growth

40th percentile

-4.1%

Faster revenue growth than 40% of similar nonprofits.

2014 filings • <$500k nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / AssetsScore unavailable

Assets

Down

$0

Down $8,218,674 (-100%) from 2013

Net Assets

Down

$0

Down $1,645,231 (-100%) from 2013

Liabilities

Down

$0

Down $6,573,443 (-100%) from 2013

Revenue And Expenses
Liabilities / Revenue57th percentileNet Margin4th percentile

Revenue

Down

$489,625

Down $20,746 (-4.1%) from 2013

Expenses

Up

$1,643,875

Up $1,154,796 (+236%) from 2013

Net Income

Down

-$1,154,250

Down $1,175,542 (-5521%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth1st percentile

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

$15M$10M$5.0M$0Assets 2011: $10,770,928Liabilities 2011: $9,182,230Net Assets 2011: $1,588,6982011Assets 2012: $9,491,742Liabilities 2012: $7,867,803Net Assets 2012: $1,623,9392012Assets 2013: $8,218,674Liabilities 2013: $6,573,443Net Assets 2013: $1,645,2312013Assets 2014: $0Liabilities 2014: $0Net Assets 2014: $02014

Highlighted filing

2014

Assets$0
Liabilities$0
Net Assets$0
Open 2014 Filing

Operations Trend

Revenue Growth40th percentile

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

$2.0M$1.0M$0-$1.0M-$2.0MExpenses 2011: $518,1762011Expenses 2012: $496,8972012Revenue 2013: $510,371Expenses 2013: $489,079Net Income 2013: $21,2922013Revenue 2014: $489,625Expenses 2014: $1,643,875Net Income 2014: -$1,154,2502014

Highlighted filing

2014

Revenue$489,625
Expenses$1,643,875
Net Income-$1,154,250
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
May 4, 2015
Return Version
2014v5.0
Gross Receipts
$489,625
Mission and Program Overview

Mission

Provide financial services and products to members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$4,962,478$0▼ $4,962,478
Rtn Earn Endowment Incm Other Fnds$1,645,231--
Investments Other Securities$1,551,200$0▼ $1,551,200
Savings and Temporary Cash Investments$1,361,231$0▼ $1,361,231
Cash and Non-Interest-Bearing Accounts$129,118$0▼ $129,118
Prepaid Expenses and Deferred Charges$12,437$0▼ $12,437
Land, Buildings, and Equipment, Net$6,375$0▼ $6,375
Accounts Receivable-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$8,218,674$0▼ $8,218,674
Other Assets Total$195,835$0▼ $195,835
Liabilities
Other Liabilities$6,618,615--
Accounts Payable and Accrued Expenses$-45,172--
Total Liabilities$6,573,443$0▼ $6,573,443
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,645,231$0▼ $1,645,231
Total Liabilities and Net Assets / Fund Balance$8,218,674$0▼ $8,218,674
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseTotal
Evelyn CavnerManagerFT$68,333$68,333
Lori DiepstraTreasurerPT$4,750$4,750

Board Members and Trustees

NameTitle
Eric HansenChairperson
Patrick LaurieV. Chairperson
Gabrielle VeenstraDirector
Margo TaylorDirector
Mark DeHaanDirector
Renee GriffenDirector
Robyn KrupiczewiczDirector
Scott BolesDirector
Anita HigbeeSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$438,788
Investment Income
$46,290
Other Revenue
$4,547
Change in Net Assets
$-1,154,250
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,424,756
Salaries, Compensation, and Employee Benefits$219,119
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest---$1,160,153
Other Salaries and Wages---$111,222
Current Officers, Directors, Trustees, and Key Employees---$73,083
All Other Expenses---$32,907
Information Technology---$21,416
Payroll Taxes---$15,995
Other Expenses---$14,940
Insurance---$14,487
Office Expenses---$10,361
Other Employee Benefits---$9,688
Pension Plan Contributions---$9,131
Fees for Services Accounting---$4,285
Advertising---$2,924
Depreciation Depletion---$1,901
Total Functional Expenses$0$0$0$1,643,875
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
Lobbying 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-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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

“Section 501(c)14 Credit Union is composed of members.”

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

“Members vote on bylaw and charter changes. Members vote and elect Board members at annual meeting.”

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

“Mergers are voted on by entire membership.”

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

“Management reviews tax returns and forwards US Form 8879-EO to tax preparer. Board reviews filed tax returns at next scheduled meeting.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“Employee loans are Management approved. Management loans are Board approved. Loans to Board members are approved by the Board minus the lendee.”

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

“Executive and employee salaries are Board reviewed and approved. Board of directors are not compensated.”

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

“Credit union bylaws and conflict of interest policy are available upon request at the credit union's main office. Quarterly financial statements are displayed in the lobby which is accessible to the general public. Quarterly financial performance (Call) reports are also available at www.ncua.gov for all federally insured credit unions.”

Filing and Contact Details

Filer

Filer Name
Bissell Employees Credit Union
EIN
38-1653492
Phone
6167910631
Address
2345 Walker Avenue NW, Grand Rapids, MI 49544

Signing Officer

Name
Janelle Franke
Title
President & CEO
Signed
2015-05-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Evelyn Cavner
Formed
1960
Legal Domicile
Mi
Voting Board Members
10
Independent Board Members
10
Employees
5
Volunteers
16

Preparer

Firm
Financial Standards Group Inc
Address
3615 NEWBURG ROAD, LOUISVILLE, KY 40218
Preparer
Robin Rivers
Phone
8005225820
Supplemental Narrative

Additional Explanations

Other Changes In Net Assets Or Fund Balances - Other Decreases

“Equity Transfer Due To Merger = -$416290”

Other Changes In Net Assets Or Fund Balances - Other Decreases

“Write-down of assets to market value = -$74691”

Signature

“None of the former Bissel Employees CU Officers or Directors are currently available to sign the Form 990 and Form 990-T Returns.The signer, Janelle Franke, is the President & CEO of the successor River Valley CU.”

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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2262013
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt077428
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt199347
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2262013
IRS990/ProgSrvcAccomActy2Grp/Desc0The Credit Union provides a variety of loans to members including real estate, credit card, vehicle and other. The total number of loans outstanding at 9/30/2014 was 958.
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt062717
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0276894
IRS990/PYOtherRevenueAmt04354
IRS990/PYProgramServiceRevenueAmt0443300
IRS990/PYRevenuesLessExpensesAmt021292
IRS990/PYSalariesCompEmpBnftPaidAmt0212185
IRS990/PYTotalExpensesAmt0489079
IRS990/PYTotalRevenueAmt0510371
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-1154250
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt01645231
IRS990/SavingsAndTempCashInvstGrp/BOYAmt01361231
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990/ScheduleBRequiredInd0false
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleN/AssetsDistributedInd0true
IRS990ScheduleN/AttorneyGeneralNotifiedInd0true
IRS990ScheduleN/BondLiabilitiesDischargedInd0false
IRS990ScheduleN/BondsOutstandingInd0false
IRS990ScheduleN/DirectorOfSuccessorInd0false
IRS990ScheduleN/EmployeeOfSuccessorInd0false
IRS990ScheduleN/LiabilitiesPaidInd0true
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc0Cash
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc1Investments
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc2Loans
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc3Furniture & Fixtures
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc4Other Assets
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt02014-12-31
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt12014-12-31
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt22014-12-31
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt32014-12-31
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt42014-12-31
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN0386119310
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN1386119310
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN2386119310
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN3386119310
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN4386119310
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt071493
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt12659530
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt24908916
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt34474
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt4357756
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt0501(c)(14)
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt1501(c)(14)
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt2501(c)(14)
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt3501(c)(14)
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt4501(c)(14)
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt0Book Value
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt1Book Value
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt2Quality & Rate
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt3Book Value
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt4Book Value
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt0PO Box 493
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt17130 E Fulton
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt2PO Box 493
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt3PO Box 493
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt4PO Box 493
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm0Ada
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm1Ada
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm2Ada
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm3Ada
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm4Ada
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/StateAbbreviationCd0MI
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/StateAbbreviationCd1MI
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/StateAbbreviationCd2MI
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/StateAbbreviationCd3MI
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/StateAbbreviationCd4MI
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd049301
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd149301
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd249301
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd349301
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd449301
IRS990ScheduleN/OwnerOfSuccessorInd0false
IRS990ScheduleN/ReceiveCompensationInd0false
IRS990ScheduleN/RequiredToNotifyAGInd0true
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Section 501(c)14 Credit Union is composed of members.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Members vote on bylaw and charter changes. Members vote and elect Board members at annual meeting.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Mergers are voted on by entire membership.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Management reviews tax returns and forwards US Form 8879-EO to tax preparer. Board reviews filed tax returns at next scheduled meeting.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Employee loans are Management approved. Management loans are Board approved. Loans to Board members are approved by the Board minus the lendee.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Executive and employee salaries are Board reviewed and approved. Board of directors are not compensated.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Credit union bylaws and conflict of interest policy are available upon request at the credit union's main office. Quarterly financial statements are displayed in the lobby which is accessible to the general public. Quarterly financial performance (Call) reports are also available at www.ncua.gov for all federally insured credit unions.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7Equity Transfer Due To Merger = -$416290
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8Write-down of assets to market value = -$74691
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9None of the former Bissel Employees CU Officers or Directors are currently available to sign the Form 990 and Form 990-T Returns.The signer, Janelle Franke, is the President & CEO of the successor River Valley CU.
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 15b: Compensation Review and Approval Process for Officers and Key Employees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Other Changes In Net Assets Or Fund Balances - Other Decreases
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8Other Changes In Net Assets Or Fund Balances - Other Decreases
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9Signature
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$0
Liabilities
$0
Net assets
$0
Revenue
$489,625
Expenses
$1,643,875
Net income
-$1,154,250
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2014Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.49$1.64$1.15
2013Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$8.22$6.57$1.65$0.51$0.49$0.02
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.49$7.87$1.62$0.50
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.8$9.18$1.59$0.52