Civic Intelligence

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

990 • Fiscal year 2016 • EIN 38-6076565

Jan 01, 2016 to Dec 31, 2016 • Filed on May 05, 2017

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

64th percentile

0.89x

Higher debt load relative to assets than 64% of similar nonprofits.

2016 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2016

Liabilities / Revenue

40th percentile

18.94x

Higher debt load relative to revenue than 40% of similar nonprofits.

2016 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2016

Net Margin

81st percentile

15%

Higher net margin than 81% of similar nonprofits.

2016 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2016

Top Officer Pay

23rd percentile

$74,527

Higher top officer pay than 23% of similar nonprofits.

Top officer pay equals 3.9% of source-year revenue.

2016 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2016

Asset Growth

58th percentile

3.9%

Faster asset growth than 58% of similar nonprofits.

2016 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2015 to 2016

Revenue Growth

59th percentile

4.4%

Faster revenue growth than 59% of similar nonprofits.

2016 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets64th percentile

Assets

Up

$40,846,870

Up $1,530,284 (+3.9%) from 2015

Net Assets

Up

$4,484,037

Up $259,166 (+6.1%) from 2015

Liabilities

Up

$36,362,833

Up $1,271,118 (+3.6%) from 2015

Revenue And Expenses
Liabilities / Revenue40th percentileNet Margin81st percentile

Revenue

Up

$1,919,408

Up $80,179 (+4.4%) from 2015

Expenses

Down

$1,640,777

Down $158,263 (-8.8%) from 2015

Net Income

Up

$278,631

Up $238,442 (+593%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth58th 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

2016

Assets$40,846,870
Liabilities$36,362,833
Net Assets$4,484,037
Open 2016 Filing

Operations Trend

Revenue Growth59th 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

2016

Revenue$1,919,408
Expenses$1,640,777
Net Income$278,631
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
May 5, 2017
Return Version
2016v3.0
Gross Receipts
$2,227,846
Mission and Program Overview

Mission

Provide financial services and products to members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$20,370,434$19,839,834▼ $530,600
Investments in Publicly Traded Securities$11,014,952$13,393,838▲ $2,378,886
Rtn Earn Endowment Incm Other Fnds$4,224,871$4,484,037▲ $259,166
Savings and Temporary Cash Investments$5,070,405$4,481,177▼ $589,228
Investments Other Securities$806,214$1,133,292▲ $327,078
Land, Buildings, and Equipment, Net$878,358$850,799▼ $27,559
Cash and Non-Interest-Bearing Accounts$538,594$519,469▼ $19,125
Prepaid Expenses and Deferred Charges$30,300$24,537▼ $5,763
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$39,316,586$40,846,870▲ $1,530,284
Other Assets Total$607,329$603,924▼ $3,405
Liabilities
Other Liabilities$34,794,230$35,890,268▲ $1,096,038
Accounts Payable and Accrued Expenses$297,485$472,565▲ $175,080
Total Liabilities$35,091,715$36,362,833▲ $1,271,118
Net Assets / Fund Balance
Total Net Assets Fund Balance$4,224,871$4,484,037▲ $259,166
Total Liabilities and Net Assets / Fund Balance$39,316,586$40,846,870▲ $1,530,284

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$619,982$793,145$1,413,127
Other Land Buildings$33,689$656,497$690,186
Land$197,128-$197,128
Leasehold Improvements-$50,228$50,228
Compensation and Service Providers
Top Officer Pay23rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Justin EbelCEOFT$74,527$74,527

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
$1,672,176
Investment Income
$247,232
Other Revenue
$0
Change in Net Assets
$278,631
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,048,879
Salaries, Compensation, and Employee Benefits$591,898
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$410,311
Information Technology---$182,596
Occupancy---$159,773
Interest---$150,587
Office Expenses---$78,794
Current Officers, Directors, Trustees, and Key Employees---$74,527
Depreciation Depletion---$57,277
Payroll Taxes---$47,417
Other Employee Benefits---$42,420
Advertising---$29,474
Insurance---$25,481
Other Expenses---$23,664
Pension Plan Contributions---$17,223
Travel---$12,528
Fees for Services Accounting---$10,200
All Other Expenses---$3,362
Total Functional Expenses$0$0$0$1,640,777
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 Share & Deposit Accounts$35,895,810
Shared Branching Settlement$-5,542
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
2017-05-05
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
20
Volunteers
5

Preparer

Firm
Financial Standards Group Inc
Address
3615 NEWBURG RD, LOUISVILLE, KY 40218
Preparer
Thomas Armantrout CPA
Phone
8005225820
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/PYTotalRevenueAmt01839229
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0278631
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
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IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt04224871
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt04484037
IRS990/SavingsAndTempCashInvstGrp/BOYAmt05070405
IRS990/SavingsAndTempCashInvstGrp/EOYAmt04481177
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IRS990ScheduleD/BuildingsGrp/BookValueAmt0619982
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0793145
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01413127
IRS990ScheduleD/LandGrp/BookValueAmt0197128
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0197128
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt050228
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt050228
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt033689
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0656497
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0690186
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0-5542
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt135895810
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Shared Branching Settlement
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Total Share & Deposit Accounts
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0850799
IRS990ScheduleD/TotalLiabilityAmt035890268
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
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt01640777
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt035091715
IRS990/TotalLiabilitiesEOYAmt036362833
IRS990/TotalLiabilitiesGrp/BOYAmt035091715
IRS990/TotalLiabilitiesGrp/EOYAmt036362833
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt04224871
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt04484037
IRS990/TotalProgramServiceRevenueAmt01672176
IRS990/TotalReportableCompFromOrgAmt074527
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01919408
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01919408
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt040846870
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/TotalAmt012528
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0415 Washington Ave
IRS990/USAddress/CityNm0Bay City
IRS990/USAddress/StateAbbreviationCd0MI
IRS990/USAddress/ZIPCd0487085712
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0www.cuplus.net
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Justin Ebel
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-05-05
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/PreparerPersonNm0Thomas Armantrout CPA
ReturnHeader/ReturnTs02017-05-05T05:06:54-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

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
$40,846,870
Liabilities
$36,362,833
Net assets
$4,484,037
Revenue
$1,919,408
Expenses
$1,640,777
Net income
$278,631
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2016Detailed filing. Detailed filing data is available for this year.$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