Civic Intelligence

Credit Unions Chartered in the State of Michigan

990 • Fiscal year 2016 • EIN 38-1710121

Jan 01, 2016 to Dec 31, 2016 • Filed on Apr 25, 2017

Organization Profilewww.calcitecu.com
478 North Third StreetRogers City, MI 49779

(989) 734-4130

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Flat

$68,444,775

Flat from 2016

Net Assets

Flat

$7,947,053

Flat from 2016

Liabilities

Flat

$60,497,722

Flat from 2016

Revenue And Expenses

Revenue

Flat

$2,991,605

Flat from 2016

Expenses

Flat

$2,356,768

Flat from 2016

Net Income

Flat

$634,837

Flat from 2016

Historical Trend

Balance Sheet Trend

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

$150M$100M$50M$0Assets 2010: $43,340,705Liabilities 2010: $37,815,680Net Assets 2010: $5,525,0252010Assets 2011: $48,726,100Liabilities 2011: $43,376,192Net Assets 2011: $5,349,9082011Assets 2012: $52,985,736Liabilities 2012: $46,428,785Net Assets 2012: $6,556,9512012Assets 2013: $56,347,617Liabilities 2013: $49,784,000Net Assets 2013: $6,563,6172013Assets 2014: $58,980,895Liabilities 2014: $51,894,876Net Assets 2014: $7,086,0192014Assets 2015: $63,281,573Liabilities 2015: $55,757,863Net Assets 2015: $7,523,7102015Assets 2016: $68,444,775Liabilities 2016: $60,497,722Net Assets 2016: $7,947,0532016Assets 2016: $68,444,775Liabilities 2016: $60,497,722Net Assets 2016: $7,947,0532016Assets 2017: $73,257,453Liabilities 2017: $64,696,210Net Assets 2017: $8,561,2432017Assets 2018: $77,266,557Liabilities 2018: $67,974,402Net Assets 2018: $9,292,1552018Assets 2019: $82,151,047Liabilities 2019: $71,284,647Net Assets 2019: $10,866,4002019Assets 2020: $99,822,942Liabilities 2020: $87,678,907Net Assets 2020: $12,144,0352020Assets 2021: $120,869,904Liabilities 2021: $108,528,396Net Assets 2021: $12,341,5082021Assets 2022: $126,826,466Liabilities 2022: $116,073,085Net Assets 2022: $10,753,3812022

Highlighted filing

2016

Assets$68,444,775
Liabilities$60,497,722
Net Assets$7,947,053
Open 2016 Filing

Operations Trend

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

$6.0M$4.0M$2.0M$0Expenses 2010: $2,135,8592010Revenue 2011: $2,427,515Expenses 2011: $2,013,642Net Income 2011: $413,8732011Revenue 2012: $2,547,485Expenses 2012: $2,170,802Net Income 2012: $376,6832012Revenue 2013: $2,589,955Expenses 2013: $2,220,013Net Income 2013: $369,9422013Revenue 2014: $2,630,840Expenses 2014: $2,129,159Net Income 2014: $501,6812014Revenue 2015: $2,747,921Expenses 2015: $2,265,657Net Income 2015: $482,2642015Revenue 2016: $2,991,605Expenses 2016: $2,356,768Net Income 2016: $634,8372016Revenue 2016: $2,991,605Expenses 2016: $2,356,768Net Income 2016: $634,8372016Revenue 2017: $3,293,030Expenses 2017: $2,575,740Net Income 2017: $717,2902017Revenue 2018: $3,649,035Expenses 2018: $2,768,819Net Income 2018: $880,2162018Revenue 2019: $3,914,279Expenses 2019: $2,945,378Net Income 2019: $968,9012019Revenue 2020: $3,941,903Expenses 2020: $3,092,103Net Income 2020: $849,8002020Revenue 2021: $4,259,260Expenses 2021: $3,367,855Net Income 2021: $891,4052021Revenue 2022: $5,018,652Expenses 2022: $3,802,751Net Income 2022: $1,215,9012022

Highlighted filing

2016

Revenue$2,991,605
Expenses$2,356,768
Net Income$634,837
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Apr 25, 2017
Return Version
2016v3.0
Gross Receipts
$3,023,535
Mission and Program Overview

Mission

Provide financial services and products to members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$32,187,345$36,937,805▲ $4,750,460
Investments in Publicly Traded Securities$18,637,100$17,886,839▼ $750,261
Savings and Temporary Cash Investments$7,438,119$8,474,351▲ $1,036,232
Rtn Earn Endowment Incm Other Fnds$7,523,710$7,947,053▲ $423,343
Land, Buildings, and Equipment, Net$1,830,400$1,758,276▼ $72,124
Cash and Non-Interest-Bearing Accounts$1,267,837$1,280,293▲ $12,456
Investments Other Securities$1,064,334$1,129,974▲ $65,640
Prepaid Expenses and Deferred Charges$81,972$57,097▼ $24,875
Accounts Receivable-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$63,281,573$68,444,775▲ $5,163,202
Other Assets Total$774,466$920,140▲ $145,674
Liabilities
Other Liabilities$54,852,251$59,383,652▲ $4,531,401
Accounts Payable and Accrued Expenses$905,612$1,114,070▲ $208,458
Total Liabilities$55,757,863$60,497,722▲ $4,739,859
Net Assets / Fund Balance
Total Net Assets Fund Balance$7,523,710$7,947,053▲ $423,343
Total Liabilities and Net Assets / Fund Balance$63,281,573$68,444,775▲ $5,163,202

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$998,246$892,566$1,890,812
Other Land Buildings$174,634$610,428$785,062
Land$542,708-$542,708
Leasehold Improvements$42,688$100,765$143,453
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Barbara MillsCEOFT$71,331$19,300$90,631

Board Members and Trustees

NameTitle
Anne M WirgauChairperson
Mike VoglerVice Chair
Mark KarstenDirector
Mary KruegerDirector
Richard KieliszewskiDirector
Dennis S LykSecretary
Donald K WhiteTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
CU AnswersData Processing600 28th St SE, Grand Rapids, MI 48456$273,143
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,436,704
Investment Income
$471,949
Other Revenue
$82,952
Change in Net Assets
$634,837
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,455,057
Salaries, Compensation, and Employee Benefits$901,711
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$599,712
Information Technology---$178,050
Interest---$176,228
All Other Expenses---$146,694
Depreciation Depletion---$120,764
Office Expenses---$116,677
Occupancy---$102,922
Other Employee Benefits---$97,900
Current Officers, Directors, Trustees, and Key Employees---$90,631
Advertising---$67,819
Pension Plan Contributions---$56,949
Payroll Taxes---$56,519
Other Expenses---$55,879
Travel---$42,770
Insurance---$39,103
Fees for Services Accounting---$20,739
Fees for Service Investment Mgmnt Fees---$11,508
Total Functional Expenses$0$0$0$2,356,768
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-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Total Shares$59,383,652
Governance and Compliance

Governance Checklist

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

Governance Explanations

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

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

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 Credit Committee.”

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
Calcite Credit Union
EIN
38-1710121
Phone
9897344130
Address
478 North Third Street, Rogers City, MI 49779

Signing Officer

Name
Barbara Mills
Title
CEO
Signed
2017-04-25
Discuss with paid preparer
Yes

Organization Details

Formed
1961
Legal Domicile
Mi
Voting Board Members
7
Independent Board Members
7
Employees
26
Volunteers
7

Preparer

Firm
Financial Standards Group Inc
Address
3615 NEWBURG RD, LOUISVILLE, KY 40218
Preparer
Thomas Armantrout CPA
Phone
8005225820
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IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayrollTaxesGrp/TotalAmt056519
IRS990/PensionPlanContributionsGrp/TotalAmt056949
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliciesReferenceChaptersInd0true
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt081972
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt057097
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0522100
IRS990/ProgramServiceRevenueGrp/BusinessCd1522100
IRS990/ProgramServiceRevenueGrp/BusinessCd2522100
IRS990/ProgramServiceRevenueGrp/BusinessCd3522100
IRS990/ProgramServiceRevenueGrp/Desc0Fees and Charges
IRS990/ProgramServiceRevenueGrp/Desc1Income from Loans
IRS990/ProgramServiceRevenueGrp/Desc2Interchange Income
IRS990/ProgramServiceRevenueGrp/Desc3Share Draft Income
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0114151
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt11865651
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2285433
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt3171391
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0114229
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt11865651
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2285433
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt3171391
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt078
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 12/31/2016 was 5,078.
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0451056
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt01423323
IRS990/PYOtherRevenueAmt053428
IRS990/PYProgramServiceRevenueAmt02243437
IRS990/PYRevenuesLessExpensesAmt0482264
IRS990/PYSalariesCompEmpBnftPaidAmt0842334
IRS990/PYTotalExpensesAmt02265657
IRS990/PYTotalRevenueAmt02747921
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0634837
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt07523710
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt07947053
IRS990/SavingsAndTempCashInvstGrp/BOYAmt07438119
IRS990/SavingsAndTempCashInvstGrp/EOYAmt08474351
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0998246
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0892566
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01890812
IRS990ScheduleD/LandGrp/BookValueAmt0542708
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0542708
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt042688
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0100765
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0143453
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0174634
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0610428
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0785062
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt059383652
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Total Shares
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01758276
IRS990ScheduleD/TotalLiabilityAmt059383652
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Section 501c(14) Credit Union is composed of members.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Management reviews tax returns and forwards US Form 8879-EO to tax preparer. Board reviews filed tax returns at next scheduled meeting.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Employee loans are Management approved. Management loans are Board approved. Loans to Board members are approved by the Credit Committee.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Executive and employee salaries are Board reviewed and approved. Board of directors are not compensated.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Credit 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/FormAndLineReferenceDesc0Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt063281573
IRS990/TotalAssetsEOYAmt068444775
IRS990/TotalAssetsGrp/BOYAmt063281573
IRS990/TotalAssetsGrp/EOYAmt068444775
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt026
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt02356768
IRS990/TotalGrossUBIAmt09312
IRS990/TotalLiabilitiesBOYAmt055757863
IRS990/TotalLiabilitiesEOYAmt060497722
IRS990/TotalLiabilitiesGrp/BOYAmt055757863
IRS990/TotalLiabilitiesGrp/EOYAmt060497722
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt07523710
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt07947053
IRS990/TotalOtherCompensationAmt019300
IRS990/TotalProgramServiceRevenueAmt02436704
IRS990/TotalReportableCompFromOrgAmt071331
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt02982293
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02991605
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt09312
IRS990/TotalVolunteersCnt07
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt063281573
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt068444775
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/TotalAmt042770
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0true
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0www.calcitecu.com
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Barbara Mills
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-04-25
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Calcite Credit Union
ReturnHeader/Filer/BusinessNameControlTxt0CALC
ReturnHeader/Filer/EIN0381710121
ReturnHeader/Filer/PhoneNum09897344130
ReturnHeader/Filer/USAddress/AddressLine1Txt0478 North Third Street

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$68,444,775
Liabilities
$60,497,722
Net assets
$7,947,053
Revenue
$2,991,605
Expenses
$2,356,768
Net income
$634,837
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$127$116$10.8$5.02$3.80$1.22
2021Detailed filing. Detailed filing data is available for this year.$121$109$12.3$4.26$3.37$0.89
2020Detailed filing. Detailed filing data is available for this year.$99.8$87.7$12.1$3.94$3.09$0.85
2019Detailed filing. Detailed filing data is available for this year.$82.2$71.3$10.9$3.91$2.95$0.97
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$77.3$68.0$9.29$3.65$2.77$0.88
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$73.3$64.7$8.56$3.29$2.58$0.72
2016Detailed filing. Detailed filing data is available for this year.$68.4$60.5$7.95$2.99$2.36$0.63
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$68.4$60.5$7.95$2.99$2.36$0.63
2015Detailed filing. Detailed filing data is available for this year.$63.3$55.8$7.52$2.75$2.27$0.48
2014Detailed filing. Detailed filing data is available for this year.$59.0$51.9$7.09$2.63$2.13$0.50
2013XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$56.3$49.8$6.56$2.59$2.22$0.37
2012Summary only. Only limited summary data is available for this year.$53.0$46.4$6.56$2.55$2.17$0.38
2011Summary only. Only limited summary data is available for this year.$48.7$43.4$5.35$2.43$2.01$0.41
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$43.3$37.8$5.53$2.14