Civic Intelligence

Delta County Credit Union

990 • Fiscal year 2013 • EIN 38-1707412

Jan 01, 2013 to Dec 31, 2013 • Filed on Oct 30, 2014

PO Box 756Escanaba, MI 49829

(906) 786-7213

Siviq Scores

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

Liabilities / Assets

53rd percentile

0.90x

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

2013 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2013

Liabilities / Revenue

54th percentile

18.75x

Higher debt load relative to revenue than 54% of similar nonprofits.

2013 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2013

Net Margin

61st percentile

13%

Higher net margin than 61% of similar nonprofits.

2013 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2013

Top Officer Pay

8th percentile

$113,360

Higher top officer pay than 8% of similar nonprofits.

Top officer pay equals 2.1% of source-year revenue.

2013 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2013

Asset Growth

58th percentile

3.3%

Faster asset growth than 58% of similar nonprofits.

2013 filings • 501(c)14 • $100M-$250M nonprofits • Annualized from 2012 to 2013

Revenue Growth

25th percentile

-3.3%

Faster revenue growth than 25% of similar nonprofits.

2013 filings • $100M-$250M nonprofits • Annualized from 2012 to 2013

Assets

Up

$111,171,049

Up $3,569,116 (+3.3%) from 2012

Net Assets

Down

$11,209,655

Down $175,634 (-1.5%) from 2012

Liabilities

Up

$99,961,394

Up $3,744,750 (+3.9%) from 2012

Revenue

Down

$5,330,014

Down $180,099 (-3.3%) from 2012

Expenses

Up

$4,639,381

Up $38,984 (+0.8%) from 2012

Net Income

Down

$690,633

Down $219,083 (-24%) from 2012

Historical Trend

Balance Sheet Trend

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

$150M$100M$50M$0Assets 2010: $92,455,819Liabilities 2010: $82,891,799Net Assets 2010: $9,564,0202010Assets 2011: $98,983,057Liabilities 2011: $88,411,532Net Assets 2011: $10,571,5252011Assets 2012: $107,601,933Liabilities 2012: $96,216,644Net Assets 2012: $11,385,2892012Assets 2013: $111,171,049Liabilities 2013: $99,961,394Net Assets 2013: $11,209,6552013Assets 2014: $119,053,964Liabilities 2014: $106,808,302Net Assets 2014: $12,245,6622014Assets 2015: $124,043,248Liabilities 2015: $111,068,901Net Assets 2015: $12,974,3472015Assets 2016: $128,961,004Liabilities 2016: $115,577,161Net Assets 2016: $13,383,8432016Assets 2017: $131,094,626Liabilities 2017: $117,018,383Net Assets 2017: $14,076,2432017Assets 2018: $128,366,654Liabilities 2018: $113,169,015Net Assets 2018: $15,197,6392018Assets 2019: $136,940,416Liabilities 2019: $119,098,766Net Assets 2019: $17,841,6502019Assets 2020: $0Liabilities 2020: $0Net Assets 2020: $02020

Highlighted filing

2013

Assets$111,171,049
Liabilities$99,961,394
Net Assets$11,209,655

Operations Trend

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

$8.0M$6.0M$4.0M$2.0M$0Expenses 2010: $4,525,4932010Expenses 2011: $4,625,8782011Revenue 2012: $5,510,113Expenses 2012: $4,600,397Net Income 2012: $909,7162012Revenue 2013: $5,330,014Expenses 2013: $4,639,381Net Income 2013: $690,6332013Revenue 2014: $5,506,252Expenses 2014: $4,690,498Net Income 2014: $815,7542014Revenue 2015: $5,806,905Expenses 2015: $5,039,198Net Income 2015: $767,7072015Revenue 2016: $6,110,757Expenses 2016: $5,370,724Net Income 2016: $740,0332016Revenue 2017: $6,554,722Expenses 2017: $5,720,516Net Income 2017: $834,2062017Revenue 2018: $7,225,500Expenses 2018: $5,905,303Net Income 2018: $1,320,1972018Revenue 2019: $7,914,170Expenses 2019: $6,032,427Net Income 2019: $1,881,7432019Revenue 2020: $2,598,708Expenses 2020: $2,092,361Net Income 2020: $506,3472020

Highlighted filing

2013

Revenue$5,330,014
Expenses$4,639,381
Net Income$690,633
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Oct 30, 2014
Return Version
2013v3.1
Gross Receipts
$5,410,371
Mission and Program Overview

Mission

Provide loans and related services to credit union members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$57,966,010$59,691,066▲ $1,725,056
Investments Other Securities$31,472,540$36,365,503▲ $4,892,963
Rtn Earn Endowment Incm Other Fnds$11,385,289$11,209,655▼ $175,634
Savings and Temporary Cash Investments$11,158,287$8,311,484▼ $2,846,803
Cash and Non-Interest-Bearing Accounts$2,802,293$2,556,081▼ $246,212
Land, Buildings, and Equipment, Net$1,374,814$1,472,526▲ $97,712
Receivables From Officers Etc$961,494$1,010,869▲ $49,375
Prepaid Expenses and Deferred Charges$185,085$175,827▼ $9,258
Accounts Receivable$12,432$979▼ $11,453
Total Assets$107,601,933$111,171,049▲ $3,569,116
Other Assets Total$1,668,978$1,586,714▼ $82,264
Liabilities
Other Liabilities$95,762,716$99,392,110▲ $3,629,394
Accounts Payable and Accrued Expenses$453,928$569,284▲ $115,356
Total Liabilities$96,216,644$99,961,394▲ $3,744,750
Net Assets / Fund Balance
Total Net Assets Fund Balance$11,385,289$11,209,655▼ $175,634
Total Liabilities and Net Assets / Fund Balance$107,601,933$111,171,049▲ $3,569,116

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$825,400$1,205,095$2,030,495
Equipment$277,101$568,696$845,797
Land$370,025-$370,025
Other Securities$157,450--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Erik BessonenAssistant MaFT$113,360$113,360
Brenda S LippensCEO/generalFT$67,800$67,800

Board Members and Trustees

NameTitle
Scott FritzPresident
Arthur MessierDirector
Duane VerbriggheDirector
Jody JaegerDirector
Joanne SteflSecretary
Jon LissTreasurer
David PerraultVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$4,491,207
Investment Income
$764,563
Other Revenue
$74,244
Change in Net Assets
$690,633
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,072,215
Salaries, Compensation, and Employee Benefits$1,567,166
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$1,258,225
Interest---$787,808
All Other Expenses---$263,370
Other Expenses---$219,561
Office Expenses---$171,008
Occupancy---$149,058
Advertising---$145,931
Insurance---$120,316
Other Employee Benefits---$117,983
Depreciation Depletion---$103,425
Payroll Taxes---$97,422
Pension Plan Contributions---$93,536
Information Technology---$66,115
Fees for Services Accounting---$63,110
Travel---$32,681
Conferences and Meetings---$31,789
Fees for Services Other---$25,757
Total Functional Expenses$0$0$0$4,639,381
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 Officers, Directors, Trustees, and Key Employees$961,494$1,010,869▲ $49,375
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Member Deposits$99,392,110
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 5

NONE

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

Elections are held by the credit union at its annual meeting for board member terms that are staggered.

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

The ceo reviews the form 990 before signing the electronic filing authorization.

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

Management reviews policy with employees and board of directors annually. In addition, they are implementing a certification requiring signatures during 2011.

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

Ceo/general manager is subjected to an annual review by a committee of the board using peer salary survey results, goal setting, etc.

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

Other officers/key employees are subjected to an annual review conducted by the president/ceo of the credit union using peer salary survey results, goal setting, etc.

Form 990, Page 6, Part VI, Line 19

Financial statements are posted at the physical offices of the credit union monthly. Governing documents and credit union policies are available from the main office upon request.

Filing and Contact Details

Filer

EIN
38-1707412
Phone
9067867213

Signing Officer

Name
Brenda S Lippens
Title
CEO/general Manager
Phone
9067867213
Signed
2014-10-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Brenda S Lippens
Formed
1960
Legal Domicile
Mi
Voting Board Members
7
Independent Board Members
7
Employees
37
Volunteers
7

Preparer

Preparer
Kristine P Berhow CPA
Phone
9067863111
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

Unrealized gain on afs securities 0 unrealized loss on afs securities 866,267

Raw XML Appendix389 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.

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IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt011385289
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt011209655
IRS990/SavingsAndTempCashInvstGrp/BOYAmt011158287
IRS990/SavingsAndTempCashInvstGrp/EOYAmt08311484
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0825400
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01205095
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02030495
IRS990ScheduleD/EquipmentGrp/BookValueAmt0277101
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0568696
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0845797
IRS990ScheduleD/LandGrp/BookValueAmt0370025
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0370025
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt099392110
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MEMBER DEPOSITS
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt014024824
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt113930492
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt27827837
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt3424900
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt4157450
IRS990ScheduleD/OtherSecuritiesGrp/Desc0MUNICIPAL BONDS
IRS990ScheduleD/OtherSecuritiesGrp/Desc1AGENCY NOTES/BONDS
IRS990ScheduleD/OtherSecuritiesGrp/Desc2CDS
IRS990ScheduleD/OtherSecuritiesGrp/Desc3PER CAP MEMBERSHIP IN CENTRAL CU
IRS990ScheduleD/OtherSecuritiesGrp/Desc4FNMA
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0C
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd1C
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd2C
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd3C
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd4C
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IRS990ScheduleD/TotalBookValueSecuritiesAmt036365503
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0CREDIT UNION MEMBER-NORMAL BUSINESS
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0OFFICERS AND DIRECTORS
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IRS990ScheduleL/TotalBalanceDueAmt01010869
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0NONE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ELECTIONS ARE HELD BY THE CREDIT UNION AT ITS ANNUAL MEETING FOR BOARD MEMBER TERMS THAT ARE STAGGERED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE CEO REVIEWS THE FORM 990 BEFORE SIGNING THE ELECTRONIC FILING AUTHORIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3MANAGEMENT REVIEWS POLICY WITH EMPLOYEES AND BOARD OF DIRECTORS ANNUALLY. IN ADDITION, THEY ARE IMPLEMENTING A CERTIFICATION REQUIRING SIGNATURES DURING 2011.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CEO/GENERAL MANAGER IS SUBJECTED TO AN ANNUAL REVIEW BY A COMMITTEE OF THE BOARD USING PEER SALARY SURVEY RESULTS, GOAL SETTING, ETC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5OTHER OFFICERS/KEY EMPLOYEES ARE SUBJECTED TO AN ANNUAL REVIEW CONDUCTED BY THE PRESIDENT/CEO OF THE CREDIT UNION USING PEER SALARY SURVEY RESULTS, GOAL SETTING, ETC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6FINANCIAL STATEMENTS ARE POSTED AT THE PHYSICAL OFFICES OF THE CREDIT UNION MONTHLY. GOVERNING DOCUMENTS AND CREDIT UNION POLICIES ARE AVAILABLE FROM THE MAIN OFFICE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7UNREALIZED GAIN ON AFS SECURITIES 0 UNREALIZED LOSS ON AFS SECURITIES 866,267
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 5
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART XI, LINE 9
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0107601933
IRS990/TotalAssetsEOYAmt0111171049
IRS990/TotalAssetsGrp/BOYAmt0107601933
IRS990/TotalAssetsGrp/EOYAmt0111171049
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt037
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt04639381
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt096216644
IRS990/TotalLiabilitiesEOYAmt099961394
IRS990/TotalLiabilitiesGrp/BOYAmt096216644
IRS990/TotalLiabilitiesGrp/EOYAmt099961394
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt011385289
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt011209655
IRS990/TotalProgramServiceRevenueAmt04491207
IRS990/TotalReportableCompFromOrgAmt0181160
IRS990/TotalRevenueGrp/ExclusionAmt0852878
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt04477136
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt05330014
IRS990/TotalVolunteersCnt07
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0107601933
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0111171049
IRS990/TravelGrp/TotalAmt032681
IRS990/TypeOfOrganizationOtherInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine10PO BOX 756
IRS990/USAddress/City0ESCANABA
IRS990/USAddress/State0MI
IRS990/USAddress/ZIPCode049829
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0WWW.DELTACOUNTYCU.COM
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02015-11-30 17:44:51Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0BRENDA S LIPPENS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO/GENERAL MANAGER
ReturnHeader/BusinessOfficerGrp/PhoneNum09067867213
ReturnHeader/BusinessOfficerGrp/SignatureDt02014-10-30
ReturnHeader/Filer/BusinessName/BusinessNameLine10DELTA COUNTY CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0DELT
ReturnHeader/Filer/EIN0381707412
ReturnHeader/Filer/PhoneNum09067867213
ReturnHeader/Filer/USAddress/AddressLine10PO BOX 756
ReturnHeader/Filer/USAddress/City0ESCANABA
ReturnHeader/Filer/USAddress/State0MI
ReturnHeader/Filer/USAddress/ZIPCode049829
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0381977929
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10ANDERSON TACKMAN & COMPANY PLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine10901 LUDINGTON STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0ESCANABA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0MI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode049829
ReturnHeader/PreparerPersonGrp/PhoneNum09067863111
ReturnHeader/PreparerPersonGrp/PreparationDt02014-11-12
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0KRISTINE P BERHOW CPA
ReturnHeader/ReturnTs02014-11-12T17:28:33-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-01-01
ReturnHeader/TaxPeriodEndDt02013-12-31
ReturnHeader/TaxYr02013

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