Civic Intelligence

Credit Unions Chartered in the State of Michigan 1000 Credit Union Plus

990 • Fiscal year 2013 • EIN 38-6076565

Jan 01, 2013 to Dec 31, 2013 • Filed on Jun 14, 2014

Organization Profilewww.cuplus.net
415 Washington AveBay City, MI 48708

(989) 893-2831

Siviq Scores

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

Liabilities / Assets

74th percentile

0.91x

Higher debt load relative to assets than 74% of similar nonprofits.

2013 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2013

Liabilities / Revenue

39th percentile

18.01x

Higher debt load relative to revenue than 39% of similar nonprofits.

2013 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2013

Net Margin

3rd percentile

-26%

Higher net margin than 3% of similar nonprofits.

2013 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2013

Top Officer Pay

11th percentile

$40,314

Higher top officer pay than 11% of similar nonprofits.

Top officer pay equals 2.0% of source-year revenue.

2013 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2013

Asset Growth

17th percentile

-2.3%

Faster asset growth than 17% of similar nonprofits.

2013 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2012 to 2013

Revenue Growth

36th percentile

-0.0%

Faster revenue growth than 36% of similar nonprofits.

2013 filings • $25M-$50M nonprofits • Annualized from 2011 to 2013

Balance Sheet
Liabilities / Assets74th percentile

Assets

Down

$39,871,395

Down $953,144 (-2.3%) from 2012

Net Assets

Down

$3,765,049

Down $552,203 (-13%) from 2012

Liabilities

Down

$36,106,346

Down $400,941 (-1.1%) from 2012

Revenue And Expenses
Liabilities / Revenue39th percentileNet Margin3rd percentile

Revenue

$2,004,997

No earlier filing loaded for comparison.

Expenses

Up

$2,534,464

Up $482,412 (+24%) from 2012

Net Income

-$529,467

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth17th percentile

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

$60M$40M$20M$0Assets 2010: $37,477,505Liabilities 2010: $32,848,484Net Assets 2010: $4,629,0212010Assets 2011: $39,206,878Liabilities 2011: $34,894,016Net Assets 2011: $4,312,8622011Assets 2012: $40,824,539Liabilities 2012: $36,507,287Net Assets 2012: $4,317,2522012Assets 2013: $39,871,395Liabilities 2013: $36,106,346Net Assets 2013: $3,765,0492013Assets 2014: $38,488,335Liabilities 2014: $34,293,492Net Assets 2014: $4,194,8432014Assets 2015: $39,316,586Liabilities 2015: $35,091,715Net Assets 2015: $4,224,8712015Assets 2016: $40,846,870Liabilities 2016: $36,362,833Net Assets 2016: $4,484,0372016

Highlighted filing

2013

Assets$39,871,395
Liabilities$36,106,346
Net Assets$3,765,049
Open 2013 Filing

Operations Trend

Revenue Growth36th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $2,437,4762010Revenue 2011: $2,006,049Expenses 2011: $2,313,151Net Income 2011: -$307,1022011Expenses 2012: $2,052,0522012Revenue 2013: $2,004,997Expenses 2013: $2,534,464Net Income 2013: -$529,4672013Revenue 2014: $1,961,481Expenses 2014: $1,529,172Net Income 2014: $432,3092014Revenue 2015: $1,839,229Expenses 2015: $1,799,040Net Income 2015: $40,1892015Revenue 2016: $1,919,408Expenses 2016: $1,640,777Net Income 2016: $278,6312016

Highlighted filing

2013

Revenue$2,004,997
Expenses$2,534,464
Net Income-$529,467
Open 2013 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Jun 14, 2014
Return Version
2013v3.1
Gross Receipts
$2,006,168
Mission and Program Overview

Mission

Provide financial services and products to members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$22,444,942$21,107,492▼ $1,337,450
Investments Other Securities$13,267,022$9,247,696▼ $4,019,326
Savings and Temporary Cash Investments$1,454$7,031,470▲ $7,030,016
Rtn Earn Endowment Incm Other Fnds$4,317,252$3,765,049▼ $552,203
Investments Program Related$2,169,707$0▼ $2,169,707
Land, Buildings, and Equipment, Net$1,265,019$1,017,532▼ $247,487
Cash and Non-Interest-Bearing Accounts$513,416$556,878▲ $43,462
Prepaid Expenses and Deferred Charges$94,722$39,535▼ $55,187
Accounts Receivable$1,971$2,873▲ $902
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$40,824,539$39,871,395▼ $953,144
Other Assets Total$1,066,286$867,919▼ $198,367
Liabilities
Other Liabilities$36,192,252$35,610,826▼ $581,426
Accounts Payable and Accrued Expenses$315,035$495,520▲ $180,485
Total Liabilities$36,507,287$36,106,346▼ $400,941
Net Assets / Fund Balance
Total Net Assets Fund Balance$4,317,252$3,765,049▼ $552,203
Total Liabilities and Net Assets / Fund Balance$40,824,539$39,871,395▼ $953,144

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$729,146$660,094$1,389,240
Other Land Buildings$87,973$610,987$698,960
Land$197,128-$197,128
Leasehold Improvements$3,285$46,943$50,228
Compensation and Service Providers
Top Officer Pay11th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Justin EbelCEOFT$40,314$40,314

Board Members and Trustees

NameTitle
Joseph DavisChairman
Keith MarkstromVice Chair
Michael JamrogDirector
Jason GowerSecretary
Mark JankeTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,805,278
Investment Income
$187,232
Other Revenue
$12,487
Change in Net Assets
$-529,467
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,863,061
Salaries, Compensation, and Employee Benefits$671,403
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$523,755
Office Expenses---$235,237
Information Technology---$176,416
Occupancy---$169,986
Interest---$121,381
All Other Expenses---$95,255
Depreciation Depletion---$71,129
Payroll Taxes---$49,466
Advertising---$46,916
Current Officers, Directors, Trustees, and Key Employees---$40,314
Other Employee Benefits---$36,581
Insurance---$32,938
Other Expenses---$30,471
Fees for Services Accounting---$22,119
Pension Plan Contributions---$21,287
Fees for Services Legal---$6,679
Travel---$1,648
Total Functional Expenses$0$0$0$2,534,464
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
Member Share Accounts$27,842,038
Member Deposit Accounts$7,768,788
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 501c(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 the 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 15A: Compensation Review & Approval Process - CEO, Top Management

“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

EIN
38-6076565
Phone
9898932831

Signing Officer

Name
Justin Ebel
Title
CEO
Signed
2014-06-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Justin Ebel
Formed
1963
Legal Domicile
Mi
Voting Board Members
5
Independent Board Members
5
Employees
26
Volunteers
6

Preparer

Preparer
Robin Rivers
Phone
8005225820
Raw XML Appendix395 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/Form990PartVIISectionAGrp/PersonNm0Joseph Davis
IRS990/Form990PartVIISectionAGrp/PersonNm1Keith Markstrom
IRS990/Form990PartVIISectionAGrp/PersonNm2Mark Janke
IRS990/Form990PartVIISectionAGrp/PersonNm3Jason Gower
IRS990/Form990PartVIISectionAGrp/PersonNm4Michael Jamrog
IRS990/Form990PartVIISectionAGrp/PersonNm5Justin Ebel
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IRS990/Form990PartVIISectionAGrp/TitleTxt1Vice Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt2Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt3Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt4Director
IRS990/Form990PartVIISectionAGrp/TitleTxt5CEO
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IRS990/OtherExpensesGrp/Desc1Loan Servicing Expense
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IRS990/OtherExpensesGrp/Desc3Professional Fees
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IRS990/PYTotalExpensesAmt02052052
IRS990/PYTotalRevenueAmt02057683
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-529467
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt01429
IRS990/ReportInvestmentsOtherSecInd0true
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt04317252
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt03765049
IRS990/SavingsAndTempCashInvstGrp/BOYAmt01454
IRS990/SavingsAndTempCashInvstGrp/EOYAmt07031470
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0729146
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0660094
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01389240
IRS990ScheduleD/LandGrp/BookValueAmt0197128
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0197128
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt03285
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt046943
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt050228
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt087973
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0610987
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0698960
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt07768788
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt127842038
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Member Deposit Accounts
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Member Share Accounts
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01017532
IRS990ScheduleD/TotalBookValueSecuritiesAmt09247696
IRS990ScheduleD/TotalLiabilityAmt035610826
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Section 501c(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 the 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/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 19: Other Organization Documents Publicly Available
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt02534464
IRS990/TotalGrossUBIAmt011058
IRS990/TotalLiabilitiesBOYAmt036507287
IRS990/TotalLiabilitiesEOYAmt036106346
IRS990/TotalLiabilitiesGrp/BOYAmt036507287
IRS990/TotalLiabilitiesGrp/EOYAmt036106346
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03765049
IRS990/TotalProgramServiceRevenueAmt01805278
IRS990/TotalReportableCompFromOrgAmt040314
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01993939
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02004997
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt011058
IRS990/TotalVolunteersCnt06
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt040824539
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt039871395
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/TotalAmt01648
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0true
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine10415 Washington Ave
IRS990/USAddress/City0Bay City
IRS990/USAddress/State0MI
IRS990/USAddress/ZIPCode0487085712
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0www.cuplus.net
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02015-11-30 17:44:51Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Justin Ebel
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/SignatureDt02014-06-14
ReturnHeader/Filer/BusinessName/BusinessNameLine10Credit Union Plus
ReturnHeader/Filer/BusinessNameControlTxt0CRED
ReturnHeader/Filer/EIN0386076565
ReturnHeader/Filer/PhoneNum09898932831
ReturnHeader/Filer/USAddress/AddressLine10415 Washington Ave
ReturnHeader/Filer/USAddress/City0Bay City
ReturnHeader/Filer/USAddress/State0MI
ReturnHeader/Filer/USAddress/ZIPCode048708
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10FINANCIAL STANDARDS GROUP INC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine103615 NEWBURG ROAD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0LOUISVILLE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0KY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode040218
ReturnHeader/PreparerPersonGrp/PhoneNum08005225820
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Robin Rivers
ReturnHeader/ReturnTs02014-06-14T16:41:19-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-01-01
ReturnHeader/TaxPeriodEndDt02013-12-31
ReturnHeader/TaxYr02013

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2013 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$39,871,395
Liabilities
$36,106,346
Net assets
$3,765,049
Revenue
$2,004,997
Expenses
$2,534,464
Net income
-$529,467
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$40.8$36.4$4.48$1.92$1.64$0.28
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$39.3$35.1$4.22$1.84$1.80$0.04
2014Detailed filing. Detailed filing data is available for this year.$38.5$34.3$4.19$1.96$1.53$0.43
2013Detailed filing. Detailed filing data is available for this year.$39.9$36.1$3.77$2.00$2.53$0.53
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$40.8$36.5$4.32$2.05
2011Summary only. Only limited summary data is available for this year.$39.2$34.9$4.31$2.01$2.31$0.31
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$37.5$32.8$4.63$2.44