Civic Intelligence

Credit Unions Chartered in the State of Michigan

990 • Fiscal year 2013 • EIN 38-6064790

Jan 01, 2013 to Dec 31, 2013 • Filed on Apr 28, 2014

PO Box 375Manistee, MI 49660

(231) 723-3400

Siviq Scores

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

Liabilities / Assets

52nd percentile

0.90x

Higher debt load relative to assets than 52% of similar nonprofits.

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

Liabilities / Revenue

83rd percentile

22.46x

Higher debt load relative to revenue than 83% of similar nonprofits.

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

Net Margin

90th percentile

23%

Higher net margin than 90% of similar nonprofits.

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

Top Officer Pay

4th percentile

$88,658

Higher top officer pay than 4% 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

14th percentile

-0.6%

Faster asset growth than 14% of similar nonprofits.

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

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2013

Assets

Down

$107,064,104

Down $690,769 (-0.6%) from 2012

Net Assets

Down

$10,832,681

Down $2,248,630 (-17%) from 2012

Liabilities

Up

$96,231,423

Up $1,557,861 (+1.6%) from 2012

Revenue

$4,283,843

No earlier filing loaded for comparison.

Expenses

Down

$3,295,031

Down $480,975 (-13%) from 2012

Net Income

$988,812

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$300M$200M$100M$0Assets 2010: $90,412,008Liabilities 2010: $80,956,638Net Assets 2010: $9,455,3702010Assets 2011: $100,510,130Liabilities 2011: $88,482,349Net Assets 2011: $12,027,7812011Assets 2012: $107,754,873Liabilities 2012: $94,673,562Net Assets 2012: $13,081,3112012Assets 2013: $107,064,104Liabilities 2013: $96,231,423Net Assets 2013: $10,832,6812013Assets 2014: $115,153,767Liabilities 2014: $101,919,555Net Assets 2014: $13,234,2122014Assets 2015: $123,773,397Liabilities 2015: $109,403,497Net Assets 2015: $14,369,9002015Assets 2016: $130,901,766Liabilities 2016: $115,651,569Net Assets 2016: $15,250,1972016Assets 2017: $139,550,078Liabilities 2017: $123,097,188Net Assets 2017: $16,452,8902017Assets 2018: $143,233,201Liabilities 2018: $126,098,721Net Assets 2018: $17,134,4802018Assets 2019: $157,533,855Liabilities 2019: $137,856,449Net Assets 2019: $19,677,4062019Assets 2020: $192,173,387Liabilities 2020: $170,207,747Net Assets 2020: $21,965,6402020Assets 2021: $216,138,619Liabilities 2021: $193,361,964Net Assets 2021: $22,776,6552021Assets 2022: $221,697,993Liabilities 2022: $204,428,462Net Assets 2022: $17,269,5312022Assets 2023: $232,907,925Liabilities 2023: $213,461,800Net Assets 2023: $19,446,1252023Assets 2024: $236,137,876Liabilities 2024: $214,083,484Net Assets 2024: $22,054,3922024

Highlighted filing

2013

Assets$107,064,104
Liabilities$96,231,423
Net Assets$10,832,681

Operations Trend

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

$15M$10M$5.0M$0Expenses 2010: $3,916,5142010Expenses 2011: $3,739,0482011Expenses 2012: $3,776,0062012Revenue 2013: $4,283,843Expenses 2013: $3,295,031Net Income 2013: $988,8122013Revenue 2014: $4,048,120Expenses 2014: $3,293,090Net Income 2014: $755,0302014Revenue 2015: $4,328,123Expenses 2015: $3,414,130Net Income 2015: $913,9932015Revenue 2016: $4,481,639Expenses 2016: $3,641,350Net Income 2016: $840,2892016Revenue 2017: $4,911,412Expenses 2017: $3,900,331Net Income 2017: $1,011,0812017Revenue 2018: $5,444,704Expenses 2018: $4,314,736Net Income 2018: $1,129,9682018Revenue 2019: $6,034,792Expenses 2019: $4,828,298Net Income 2019: $1,206,4942019Revenue 2020: $6,225,169Expenses 2020: $4,764,422Net Income 2020: $1,460,7472020Revenue 2021: $6,778,543Expenses 2021: $4,561,553Net Income 2021: $2,216,9902021Revenue 2022: $7,809,519Expenses 2022: $5,147,655Net Income 2022: $2,661,8642022Revenue 2023: $10,019,493Expenses 2023: $8,228,592Net Income 2023: $1,790,9012023Revenue 2024: $12,009,346Expenses 2024: $10,127,719Net Income 2024: $1,881,6272024

Highlighted filing

2013

Revenue$4,283,843
Expenses$3,295,031
Net Income$988,812
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Apr 28, 2014
Return Version
2013v3.0
Gross Receipts
$17,525,032
Mission and Program Overview

Mission

Building Member-Owned, Life-long relationships, one member at a time.

Loans to credit union members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$43,579,804$47,016,606▲ $3,436,802
Investments in Publicly Traded Securities$36,875,911$37,088,828▲ $212,917
Savings and Temporary Cash Investments$23,165,858$18,863,232▼ $4,302,626
Rtn Earn Endowment Incm Other Fnds$13,081,311$10,832,681▼ $2,248,630
Land, Buildings, and Equipment, Net$1,857,925$1,797,737▼ $60,188
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$107,754,873$107,064,104▼ $690,769
Other Assets Total$2,275,375$2,297,701▲ $22,326
Liabilities
Other Liabilities$94,078,253$95,826,486▲ $1,748,233
Accounts Payable and Accrued Expenses$595,309$404,937▼ $190,372
Total Liabilities$94,673,562$96,231,423▲ $1,557,861
Net Assets / Fund Balance
Total Net Assets Fund Balance$13,081,311$10,832,681▼ $2,248,630
Total Liabilities and Net Assets / Fund Balance$107,754,873$107,064,104▼ $690,769

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,537,738$717,824$2,255,562
Equipment$127,879$282,661$410,540
Land$132,120-$132,120
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Patty PreussCEOFT$73,231$15,427$88,658
Kaci KamaloskiCFOFT$47,013$11,028$58,041

Board Members and Trustees

NameTitle
Gregg KingPresident
Robert LindemanPresident-stepped Down 5/28/13
Wayne BrenierVice President
Anthony GagliardoDirector
Bonnie CoteDirector
James SibleyDirector
Jean SoltesDirector
Thomas BatzerDirector
Tom MaternowskiDirector
Charles CloutierSecretary/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,966,677
Investment Income
$1,317,166
Other Revenue
$0
Change in Net Assets
$988,812
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,338,256
Salaries, Compensation, and Employee Benefits$956,775
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$598,400
Office Expenses---$568,731
Occupancy---$192,187
Current Officers, Directors, Trustees, and Key Employees---$146,699
Other Employee Benefits---$99,460
Advertising---$95,601
All Other Expenses---$88,709
Insurance---$78,719
Fees for Services Accounting---$74,509
Other Expenses---$72,548
Payroll Taxes---$66,988
Fees for Services Legal---$60,529
Pension Plan Contributions---$45,228
Fees for Services Other---$13,786
Travel---$4,911
Total Functional Expenses$0$0$0$3,295,031
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Members Shares and Savings Accounts$95,826,486
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
No
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, Section A, Line 6

Each individual that has an account with the credit union is a member of the credit union.

Form 990, Part VI, Section A, Line 7A

As a credit union, we have a membership that has the authority to vote for the board of directors on an annual basis. We are required to hold an annual meeting, where the membership can vote for the board of directors up for nomination.

Form 990, Part VI, Section B, Line 11

The organization will not provide a copy of form 990 to all members of its governing body before filing the form.

Form 990, Part VI, Section B, Line 15A

Comparability data from the michigan credit union league.

Form 990, Part VI, Section C, Line 19

The financial statements are made available to the public upon request only.

Filing and Contact Details

Filer

EIN
38-6064790
Phone
2317233400

Signing Officer

Name
Patty Preuss
Title
CEO
Phone
2317233400
Signed
2014-04-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Patty Preuss
Formed
1951
Legal Domicile
Mi
Voting Board Members
9
Independent Board Members
9
Employees
33
Volunteers
15

Preparer

Preparer
Joseph a Zito CPA
Phone
2482443000
Raw XML Appendix371 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
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IRS990/ActivityOrMissionDesc0LOANS TO CREDIT UNION MEMBERS.
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IRS990/AllOtherExpensesGrp/TotalAmt088709
IRS990/AnnualDisclosureCoveredPrsnInd01
IRS990/BackupWthldComplianceInd01
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IRS990/BooksInCareOfDetail/PhoneNum02317233400
IRS990/BooksInCareOfDetail/USAddress/AddressLine101117 28TH STREET
IRS990/BooksInCareOfDetail/USAddress/City0MANISTEE
IRS990/BooksInCareOfDetail/USAddress/State0MI
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IRS990/Form990PartVIISectionAGrp/PersonNm1GREGG KING
IRS990/Form990PartVIISectionAGrp/PersonNm2CHARLES CLOUTIER
IRS990/Form990PartVIISectionAGrp/PersonNm3THOMAS BATZER
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IRS990/Form990PartVIISectionAGrp/PersonNm5TOM MATERNOWSKI
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IRS990/Form990PartVIISectionAGrp/PersonNm8WAYNE BRENIER
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IRS990/Form990PartVIISectionAGrp/PersonNm11KACI KAMALOSKI
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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT-STEPPED DOWN 5/28/13
IRS990/Form990PartVIISectionAGrp/TitleTxt1PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY/TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt11CFO
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IRS990/PartialLiquidationInd00
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IRS990/ProgSrvcAccomActy3Grp/Desc0UNSECURED LOANS - LOANS PROVIDED TO MEMBERS WITHOUT SECURED COLLATERAL.
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt01607341
IRS990/PYOtherExpensesAmt02860597
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt03055999
IRS990/PYRevenuesLessExpensesAmt0887334
IRS990/PYSalariesCompEmpBnftPaidAmt0915409
IRS990/PYTotalExpensesAmt03776006
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt04663340
IRS990/ReconcilationRevenueExpnssAmt0988812
IRS990/RegularMonitoringEnfrcInd00
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt013081311
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt010832681
IRS990/SavingsAndTempCashInvstGrp/BOYAmt023165858
IRS990/SavingsAndTempCashInvstGrp/EOYAmt018863232
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt01537738
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0717824
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02255562
IRS990ScheduleD/EquipmentGrp/BookValueAmt0127879
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0282661
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0410540
IRS990ScheduleD/LandGrp/BookValueAmt0132120
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0132120
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt095826486
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MEMBERS SHARES AND SAVINGS ACCOUNTS
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01797737
IRS990ScheduleD/TotalLiabilityAmt095826486
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0EACH INDIVIDUAL THAT HAS AN ACCOUNT WITH THE CREDIT UNION IS A MEMBER OF THE CREDIT UNION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1AS A CREDIT UNION, WE HAVE A MEMBERSHIP THAT HAS THE AUTHORITY TO VOTE FOR THE BOARD OF DIRECTORS ON AN ANNUAL BASIS. WE ARE REQUIRED TO HOLD AN ANNUAL MEETING, WHERE THE MEMBERSHIP CAN VOTE FOR THE BOARD OF DIRECTORS UP FOR NOMINATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION WILL NOT PROVIDE A COPY OF FORM 990 TO ALL MEMBERS OF ITS GOVERNING BODY BEFORE FILING THE FORM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COMPARABILITY DATA FROM THE MICHIGAN CREDIT UNION LEAGUE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST ONLY.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0107754873
IRS990/TotalAssetsEOYAmt0107064104
IRS990/TotalAssetsGrp/BOYAmt0107754873
IRS990/TotalAssetsGrp/EOYAmt0107064104
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt033
IRS990/TotalFunctionalExpensesGrp/TotalAmt03295031
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt094673562
IRS990/TotalLiabilitiesEOYAmt096231423
IRS990/TotalLiabilitiesGrp/BOYAmt094673562
IRS990/TotalLiabilitiesGrp/EOYAmt096231423
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt013081311
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt010832681
IRS990/TotalOtherCompensationAmt026455
IRS990/TotalProgramServiceRevenueAmt02966677
IRS990/TotalReportableCompFromOrgAmt0120244
IRS990/TotalRevenueGrp/ExclusionAmt01317166
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt02966677
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt04283843
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt015
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0107754873
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0107064104
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/TotalAmt04911
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine101117 28TH STREET
IRS990/USAddress/City0MANISTEE
IRS990/USAddress/State0MI
IRS990/USAddress/ZIPCode049660
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0WWW.FILERCU.COM
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02015-11-30 17:44:51Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0PATTY PREUSS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum02317233400
ReturnHeader/BusinessOfficerGrp/SignatureDt02014-04-28
ReturnHeader/Filer/BusinessName/BusinessNameLine10FILER CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0FILE
ReturnHeader/Filer/EIN0386064790
ReturnHeader/Filer/PhoneNum02317233400
ReturnHeader/Filer/USAddress/AddressLine10PO BOX 375
ReturnHeader/Filer/USAddress/City0MANISTEE
ReturnHeader/Filer/USAddress/State0MI
ReturnHeader/Filer/USAddress/ZIPCode049660
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0382492570
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10DOEREN MAYHEW
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine10305 WEST BIG BEAVER ROAD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0TROY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0MI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode048084
ReturnHeader/PreparerPersonGrp/PhoneNum02482443000
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JOSEPH A ZITO CPA
ReturnHeader/ReturnTs02014-05-05T13:14:26-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-01-01
ReturnHeader/TaxPeriodEndDt02013-12-31
ReturnHeader/TaxYr02013

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$236$214$22.1$12.0$10.1$1.88
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$233$213$19.4$10.0$8.23$1.79
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$222$204$17.3$7.81$5.15$2.66
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$216$193$22.8$6.78$4.56$2.22
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$192$170$22.0$6.23$4.76$1.46
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$158$138$19.7$6.03$4.83$1.21
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$143$126$17.1$5.44$4.31$1.13
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$140$123$16.5$4.91$3.90$1.01
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$131$116$15.3$4.48$3.64$0.84
2015Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$124$109$14.4$4.33$3.41$0.91
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$115$102$13.2$4.05$3.29$0.76
2013Detailed filing. Detailed filing data is available for this year.$107$96.2$10.8$4.28$3.30$0.99
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$108$94.7$13.1$3.78
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$101$88.5$12.0$3.74
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$90.4$81.0$9.46$3.92