Civic Intelligence

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

990 • Fiscal year 2015 • EIN 38-6076565

Jan 01, 2015 to Dec 31, 2015 • Filed on May 09, 2016

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

65th percentile

0.89x

Higher debt load relative to assets than 65% of similar nonprofits.

2015 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2015

Liabilities / Revenue

41st percentile

19.08x

Higher debt load relative to revenue than 41% of similar nonprofits.

2015 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2015

Net Margin

26th percentile

2.2%

Higher net margin than 26% of similar nonprofits.

2015 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2015

Top Officer Pay

27th percentile

$77,541

Higher top officer pay than 27% of similar nonprofits.

Top officer pay equals 4.2% of source-year revenue.

2015 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2015

Asset Growth

42nd percentile

2.2%

Faster asset growth than 42% of similar nonprofits.

2015 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2014 to 2015

Revenue Growth

10th percentile

-6.2%

Faster revenue growth than 10% of similar nonprofits.

2015 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets65th percentile

Assets

Up

$39,316,586

Up $828,251 (+2.2%) from 2014

Net Assets

Up

$4,224,871

Up $30,028 (+0.7%) from 2014

Liabilities

Up

$35,091,715

Up $798,223 (+2.3%) from 2014

Revenue And Expenses
Liabilities / Revenue41st percentileNet Margin26th percentile

Revenue

Down

$1,839,229

Down $122,252 (-6.2%) from 2014

Expenses

Up

$1,799,040

Up $269,868 (+18%) from 2014

Net Income

Down

$40,189

Down $392,120 (-91%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth42nd 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

2015

Assets$39,316,586
Liabilities$35,091,715
Net Assets$4,224,871
Open 2015 Filing

Operations Trend

Revenue Growth10th 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

2015

Revenue$1,839,229
Expenses$1,799,040
Net Income$40,189
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
May 9, 2016
Return Version
2015v2.0
Gross Receipts
$1,839,229
Mission and Program Overview

Mission

Provide financial services and products to members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$19,512,695$20,370,434▲ $857,739
Investments in Publicly Traded Securities-$11,014,952-
Savings and Temporary Cash Investments$4,188,264$5,070,405▲ $882,141
Rtn Earn Endowment Incm Other Fnds$4,194,843$4,224,871▲ $30,028
Land, Buildings, and Equipment, Net$937,762$878,358▼ $59,404
Investments Other Securities$12,366,974$806,214▼ $11,560,760
Cash and Non-Interest-Bearing Accounts$476,351$538,594▲ $62,243
Prepaid Expenses and Deferred Charges$28,385$30,300▲ $1,915
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$38,488,335$39,316,586▲ $828,251
Other Assets Total$977,904$607,329▼ $370,575
Liabilities
Other Liabilities$34,027,936$34,794,230▲ $766,294
Accounts Payable and Accrued Expenses$265,556$297,485▲ $31,929
Total Liabilities$34,293,492$35,091,715▲ $798,223
Net Assets / Fund Balance
Total Net Assets Fund Balance$4,194,843$4,224,871▲ $30,028
Total Liabilities and Net Assets / Fund Balance$38,488,335$39,316,586▲ $828,251

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$637,050$746,360$1,383,410
Other Land Buildings$44,180$646,007$690,187
Land$197,128-$197,128
Leasehold Improvements-$50,228$50,228
Compensation and Service Providers
Top Officer Pay27th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Justin EbelCEOFT$77,541$77,541

Board Members and Trustees

NameTitle
Joseph DavisChairman
Keith MarkstromVice Chair
Terrence KelleyDirector
Michael JamrogSecretary
Mark JankeTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,563,495
Investment Income
$265,856
Other Revenue
$9,878
Change in Net Assets
$40,189
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,203,695
Salaries, Compensation, and Employee Benefits$595,345
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$418,855
Office Expenses---$210,669
Information Technology---$178,279
Occupancy---$148,596
Fees for Services Other---$110,174
Interest---$109,178
Other Employee Benefits---$98,949
Current Officers, Directors, Trustees, and Key Employees---$77,541
Depreciation Depletion---$60,673
Advertising---$35,797
Insurance---$33,853
Travel---$22,958
Other Expenses---$12,000
All Other Expenses---$-23,715
Total Functional Expenses$0$0$0$1,799,040
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 Deposit Accounts$34,794,230
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 and the Board review the tax returns then forward US Form 8879-EO to tax preparer.”

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. Monthly 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
Credit Union Plus
EIN
38-6076565
Phone
9898932831
Address
415 Washington Ave, Bay City, MI 48708

Signing Officer

Name
Justin Ebel
Title
CEO
Signed
2016-05-09
Discuss with paid preparer
Yes

Organization Details

Formed
1963
Legal Domicile
Mi
Voting Board Members
5
Independent Board Members
5
Employees
34
Volunteers
6

Preparer

Firm
Financial Standards Group Inc
Address
3615 NEWBURG RD, LOUISVILLE, KY 40218
Preparer
William Arvo CPA
Phone
8005225820
Raw XML Appendix376 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/PersonNm3Michael Jamrog
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IRS990/Form990PartVIISectionAGrp/TitleTxt3Secretary
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IRS990/Form990PartVIISectionAGrp/TitleTxt5CEO
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IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt04194843
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt04224871
IRS990/SavingsAndTempCashInvstGrp/BOYAmt04188264
IRS990/SavingsAndTempCashInvstGrp/EOYAmt05070405
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0637050
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0746360
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01383410
IRS990ScheduleD/LandGrp/BookValueAmt0197128
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0197128
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt050228
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt050228
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt044180
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0646007
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0690187
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt034794230
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Member Deposit Accounts
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0878358
IRS990ScheduleD/TotalLiabilityAmt034794230
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 and the Board review the tax returns then forward US Form 8879-EO to tax preparer.
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. Monthly 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
IRS990/TotalAssetsBOYAmt038488335
IRS990/TotalAssetsEOYAmt039316586
IRS990/TotalAssetsGrp/BOYAmt038488335
IRS990/TotalAssetsGrp/EOYAmt039316586
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt034
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt01799040
IRS990/TotalGrossUBIAmt09878
IRS990/TotalLiabilitiesBOYAmt034293492
IRS990/TotalLiabilitiesEOYAmt035091715
IRS990/TotalLiabilitiesGrp/BOYAmt034293492
IRS990/TotalLiabilitiesGrp/EOYAmt035091715
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt04194843
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt04224871
IRS990/TotalProgramServiceRevenueAmt01563495
IRS990/TotalReportableCompFromOrgAmt077541
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01829351
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01839229
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt09878
IRS990/TotalVolunteersCnt06
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt038488335
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt039316586
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/TotalAmt022958
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0true
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0www.cuplus.net
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-09-27 15:27:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Justin Ebel
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-05-09
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Credit Union Plus
ReturnHeader/Filer/BusinessNameControlTxt0CRED
ReturnHeader/Filer/EIN0386076565
ReturnHeader/Filer/PhoneNum09898932831
ReturnHeader/Filer/USAddress/AddressLine1Txt0415 Washington Ave
ReturnHeader/Filer/USAddress/CityNm0Bay City
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MI
ReturnHeader/Filer/USAddress/ZIPCd048708
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0FINANCIAL STANDARDS GROUP INC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03615 NEWBURG RD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LOUISVILLE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0KY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd040218
ReturnHeader/PreparerPersonGrp/PhoneNum08005225820
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0William Arvo CPA
ReturnHeader/ReturnTs02016-05-09T10:03:11-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-01-01
ReturnHeader/TaxPeriodEndDt02015-12-31
ReturnHeader/TaxYr02015

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$39,316,586
Liabilities
$35,091,715
Net assets
$4,224,871
Revenue
$1,839,229
Expenses
$1,799,040
Net income
$40,189
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
2015Detailed filing. Detailed filing data is available for this year.$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