Civic Intelligence

Summit Credit Union

990 • Fiscal year 2017 • EIN 39-0230585

Jan 01, 2017 to Dec 31, 2017 • Filed on Oct 18, 2018

Organization ProfileWWW.SUMMITCREDITUNION.COM

View Organization Page

PO Box 8046Madison, WI 53708-8046

(608) 243-5000

Siviq Scores

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

Liabilities / Assets

28th percentile

0.88x

Higher debt load relative to assets than 28% of similar nonprofits.

2017 filings • 501(c)14 • $1B+ nonprofits • Source year 2017

Liabilities / Revenue

48th percentile

18.97x

Higher debt load relative to revenue than 48% of similar nonprofits.

2017 filings • 501(c)14 • $1B+ nonprofits • Source year 2017

Net Margin

90th percentile

28%

Higher net margin than 90% of similar nonprofits.

2017 filings • 501(c)14 • $1B+ nonprofits • Source year 2017

Top Officer Pay

58th percentile

$942,371

Higher top officer pay than 58% of similar nonprofits.

Top officer pay equals 0.7% of source-year revenue.

2017 filings • 501(c)14 • $1B+ nonprofits • Source year 2017

Asset Growth

70th percentile

8.8%

Faster asset growth than 70% of similar nonprofits.

2017 filings • 501(c)14 • $1B+ nonprofits • Annualized from 2016 to 2017

Revenue Growth

28th percentile

7.7%

Faster revenue growth than 28% of similar nonprofits.

2017 filings • 501(c)14 • $1B+ nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets28th percentile

Assets

Up

$2,900,501,513

Up $235,680,394 (+8.8%) from 2016

Net Assets

Up

$339,900,128

Up $36,470,230 (+12%) from 2016

Liabilities

Up

$2,560,601,385

Up $199,210,164 (+8.4%) from 2016

Revenue And Expenses
Liabilities / Revenue48th percentileNet Margin90th percentile

Revenue

Up

$134,968,658

Up $9,656,468 (+7.7%) from 2016

Expenses

Up

$97,165,773

Up $6,809,787 (+7.5%) from 2016

Net Income

Up

$37,802,885

Up $2,846,681 (+8.1%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth70th percentile

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

$8.0B$6.0B$4.0B$2.0B$0Assets 2010: $1,581,105,305Liabilities 2010: $1,444,066,478Net Assets 2010: $137,038,8272010Assets 2011: $1,735,535,637Liabilities 2011: $1,578,800,691Net Assets 2011: $156,734,9462011Assets 2012: $1,886,824,377Liabilities 2012: $1,695,399,695Net Assets 2012: $191,424,6822012Assets 2013: $1,955,509,180Liabilities 2013: $1,739,747,505Net Assets 2013: $215,761,6752013Assets 2014: $2,076,034,803Liabilities 2014: $1,834,004,313Net Assets 2014: $242,030,4902014Assets 2015: $2,388,643,118Liabilities 2015: $2,118,414,699Net Assets 2015: $270,228,4192015Assets 2016: $2,664,821,119Liabilities 2016: $2,361,391,221Net Assets 2016: $303,429,8982016Assets 2017: $2,900,501,513Liabilities 2017: $2,560,601,385Net Assets 2017: $339,900,1282017Assets 2018: $3,224,170,223Liabilities 2018: $2,845,874,600Net Assets 2018: $378,295,6232018Assets 2019: $3,689,604,395Liabilities 2019: $3,265,770,166Net Assets 2019: $423,834,2292019Assets 2020: $4,326,305,460Liabilities 2020: $3,835,950,797Net Assets 2020: $490,354,6632020Assets 2021: $4,830,581,855Liabilities 2021: $4,275,073,315Net Assets 2021: $555,508,5402021Assets 2022: $6,224,510,320Liabilities 2022: $5,676,758,326Net Assets 2022: $547,751,9942022Assets 2023: $6,945,113,848Liabilities 2023: $6,333,434,715Net Assets 2023: $611,679,1332023Assets 2024: $7,458,311,100Liabilities 2024: $6,775,219,984Net Assets 2024: $683,091,1162024

Highlighted filing

2017

Assets$2,900,501,513
Liabilities$2,560,601,385
Net Assets$339,900,128
Open 2017 Filing

Operations Trend

Revenue Growth28th percentile

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

$600M$400M$200M$0Expenses 2010: $78,300,1012010Expenses 2011: $76,151,8482011Revenue 2012: $105,588,548Expenses 2012: $74,080,222Net Income 2012: $31,508,3262012Revenue 2013: $96,688,329Expenses 2013: $69,084,193Net Income 2013: $27,604,1362013Revenue 2014: $96,927,653Expenses 2014: $72,614,953Net Income 2014: $24,312,7002014Revenue 2015: $108,064,154Expenses 2015: $79,034,215Net Income 2015: $29,029,9392015Revenue 2016: $125,312,190Expenses 2016: $90,355,986Net Income 2016: $34,956,2042016Revenue 2017: $134,968,658Expenses 2017: $97,165,773Net Income 2017: $37,802,8852017Revenue 2018: $153,615,518Expenses 2018: $114,485,268Net Income 2018: $39,130,2502018Revenue 2019: $183,147,998Expenses 2019: $139,446,632Net Income 2019: $43,701,3662019Revenue 2020: $218,688,178Expenses 2020: $159,633,124Net Income 2020: $59,055,0542020Revenue 2021: $218,937,515Expenses 2021: $141,564,545Net Income 2021: $77,372,9702021Revenue 2022: $231,091,693Expenses 2022: $179,735,655Net Income 2022: $51,356,0382022Revenue 2023: $344,575,674Expenses 2023: $293,446,606Net Income 2023: $51,129,0682023Revenue 2024: $453,854,644Expenses 2024: $395,405,737Net Income 2024: $58,448,9072024

Highlighted filing

2017

Revenue$134,968,658
Expenses$97,165,773
Net Income$37,802,885
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Oct 18, 2018
Return Version
2017v2.3
Gross Receipts
$136,214,963
Mission and Program Overview

Mission

A cooperative, nonprofit corporation, incorporated under wisconsin state law to encourage thrift among its members, create a source of credit at a fair and reasonable cost, and provide an opportunity for its members to improve their economic and social conditions.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$2,029,860,704$2,370,751,242▲ $340,890,538
Rtn Earn Endowment Incm Other Fnds$303,429,898$339,900,128▲ $36,470,230
Investments Other Securities$316,000,136$273,992,965▼ $42,007,171
Savings and Temporary Cash Investments$114,488,056$69,919,282▼ $44,568,774
Land, Buildings, and Equipment, Net$54,733,202$61,858,074▲ $7,124,872
Investments Program Related$81,642,037$58,290,893▼ $23,351,144
Cash and Non-Interest-Bearing Accounts$8,800,153$9,851,568▲ $1,051,415
Receivables From Officers Etc$4,864,800$5,177,986▲ $313,186
Prepaid Expenses and Deferred Charges$2,309,985$2,604,309▲ $294,324
Accounts Receivable$2,470,988$1,777,067▼ $693,921
Intangible Assets$304,739$129,032▼ $175,707
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$2,664,821,119$2,900,501,513▲ $235,680,394
Other Assets Total$49,346,319$46,149,095▼ $3,197,224
Liabilities
Other Liabilities$2,153,031,651$2,241,783,239▲ $88,751,588
Mortgage Notes Payable Secured by Investment Property$169,122,512$272,347,638▲ $103,225,126
Accounts Payable and Accrued Expenses$37,652,568$44,324,156▲ $6,671,588
Escrow Account Liability$1,584,490$2,146,352▲ $561,862
Total Liabilities$2,361,391,221$2,560,601,385▲ $199,210,164
Net Assets / Fund Balance
Total Net Assets Fund Balance$303,429,898$339,900,128▲ $36,470,230
Total Liabilities and Net Assets / Fund Balance$2,664,821,119$2,900,501,513▲ $235,680,394

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$38,637,011$20,704,082$59,341,093
Equipment$7,185,066$18,966,597$26,151,663
Land$13,055,379-$13,055,379
Other Land Buildings$2,477,711-$2,477,711
Leasehold Improvements$502,907$1,412,111$1,915,018
Other Securities$273,992,965--
Compensation and Service Providers
Top Officer Pay58th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Kim SponemCEO/presidentFT$660,933$281,438$942,371
Keith PetersonCFOFT$250,063$272,087$522,150
Rebecca GerothanasSVP OperationsFT$214,274$150,287$364,561
Nancy KastenSVP Hr & Org Develop.FT$169,653$114,510$284,163
Christopher SchellSVP MarketingFT$169,282$108,197$277,479
Mark KennedyChief Lending OfficerFT$179,041$97,620$276,661
Adam PelletterMortgage Loan OfficerFT$201,666$42,777$244,443
Christopher HefterVP ItFT$170,394$73,063$243,457
Kim KaleppManaging VP Business ServiFT$138,962$90,513$229,475
Eric MathiasVP Retail DevelopmentFT$147,525$64,092$211,617
James HoldenVP - Business Services SrFT$130,830$69,977$200,807
Daniel PollyAvp ItFT$143,758$56,172$199,930
Jeremy EpplerVP Risk ManagementFT$147,237$46,511$193,748
Steven HansenMortgage Loan OfficerFT$150,362$42,574$192,936
Timothy GreeneMortgage Loan OfficerFT$164,047$23,833$187,880

Board Members and Trustees

NameTitle
John LitscherChair
Mike SchenkVice Chair
Bob LindnerDirector
Dan KaiserDirector
Dennis SaueyDirector
MIKE O'BRIENDirector
Stefanie NorvaisasDirector
David ReszelSecretary
Mary TurkeTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Jh Findorff & Son INCConstruction Contractor330 S BEDFORD ST, Madison, WI 53703$2,711,366
Paragon Development SystemsInformation TechnologyPO BOX 775677, Chicago, IL 60677$2,319,088
Dart Appraisalcom INCLoan Appraisals2600 W BIG BEAVER RD, Troy, MI 48084$1,600,494
Hiebing Group INCMarketing315 WISCONSIN AVE, Madison, WI 53703$1,434,605
Strang INCArchitectural Firm6411 MINERAL POINT RD, Madison, WI 53705$1,366,952
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$128,650,693
Investment Income
$6,350,520
Other Revenue
$-32,555
Change in Net Assets
$37,802,885

Audited Revenue Reconciliation

Revenue per Audited Statements
$135,390,262
Revenue Not Reported on Financial Statements
$-421,604
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$-421,604
Total Revenue per Audited Statements
$135,390,262
Total Revenue per Form 990
$134,968,658
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$47,654,931
Salaries, Compensation, and Employee Benefits$39,352,014
Grants and Similar Amounts Paid$244,512
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$27,354,667
Office Expenses---$13,850,467
Benefits to Members---$9,914,316
Depreciation Depletion---$5,183,735
Interest---$4,557,513
Other Employee Benefits---$4,025,106
Current Officers, Directors, Trustees, and Key Employees---$3,545,687
Advertising---$3,212,019
Pension Plan Contributions---$2,289,569
Payroll Taxes---$2,136,985
Occupancy---$1,955,153
Fees for Services Legal---$900,709
Other Expenses---$776,017
Conferences and Meetings---$756,585
Fees for Services Accounting---$313,620
All Other Expenses---$259,673
Grants to Domestic Orgs---$244,512
Total Functional Expenses$0$0$0$97,165,773

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$97,587,377
Expenses per Audited Statements$97,165,773
Total Expenses per Form 990$97,165,773
Expenses Not Reported on Form 990$421,604
Expenses Not Reported on Financial Statements$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
United Way of Dane CountyMadison, WI501(c)(3)United Way Corporate Contribution/loan Exec Sponsor$62,500
Worldwide Foundation for Credit UnionsMadison, WI501(c)(3)Priority Fund$20,000
Edgewood CollegeMadison, WI501(c)(3)Residence Hall Capital Campaign$16,786
A Fund for WomenMadison, WI501(c)(3)Partnership$15,250
Goodman Community CenterMadison, WI501(c)(3)Partnership - Year 1$12,500
American Heart AssociationMadison, WI501(c)(3)2017 Heart Walk Sponsorship$10,000
Madison College FoundationMadison, WI501(c)(3)Endowment Fund$10,000
Better Business Bureau of Wi FoundationMilwaukee, WI501(c)(3)2017 Shredfest Event Sponsorship$5,994
Girls on the Run of South Central WiMadison, WI501(c)(3)Girls on the Run Spring 5k Sponsorship$5,500
MosesMadison, WI501(c)(3)General Donation$5,000
National Credit Union FoundationMadison, WI501(c)(3)National Credit Union Foundation Donation$5,000
Simpson Street Free PressMonona, WI501(c)(3)3 Yr Sponsorship$5,000
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees$4,864,800$5,177,986▲ $313,186
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Member Shares and Deposits$2,241,783,239
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

“The credit union is comprised of a single class of approximately 171,000 member-owners, each of which has equal rights in ownership, governance and voting rights at the annual meetings, with the exception of the member-owners who are elected to the board of directors.”

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

“The member-owners of the credit union have the authority to elect the members of the board of directors for three-year terms on a rotating basis. Candidates are elected by a simple plurality vote.”

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

“The by-laws may be amended, altered or repealed in any manner not inconsistent with applicable law by a majority vote of the board at any duly convened meeting of the board. These by-laws may be amended by three-fourths majority vote of the members present at any annual or special meeting of the members, if all notice and other requirements applicable to amendment of these by-laws are satisfied. No amendment, alteration, or repeal of these bylaws shall become effective until filed with and approval by the office of credit unions. Members also vote on approval of a name change.”

Form 990, Part VI, Section B, Line 11B

“The form 990 is reviewed by the vp-risk management and cfo prior to filing. If there is uncertainty about a response, they will consult with the appropriate subject matter expert.”

Form 990, Part VI, Section B, Line 12C

“All employees and volunteers are covered by the conflict of interest policy, which prohibits engaging in transactions with parties where a conflict exists. All staff receive annual training on conflict of interest and are required to re-read the document annually. The core system also prohibits employees from completing transactions on accounts that contain their social security number or address. Various monthly fraud monitoring reports are reviewed by risk management. Potential conflicts are discussed with the vp risk management and facilities, and escalated to the svp hr and organizational development, cfo, and ceo/president as needed.”

Form 990, Part VI, Section B, Line 15

“All positions are classified within salary bands. Each year, all salary bands are reviewed and may be adjusted to reflect job market changes to ensure that positions are classified appropriately. Every two to three years all positions are re-evaluated using multiple external resources in this process. The ceo's compensation is reviewed by the board each year and multiple sources are used.”

Form 990, Part VI, Section C, Line 19

“Governing documents are provided to members upon request. Financial statements are presented in the annual report and available for download from ncua.”

Filing and Contact Details

Filer

Filer Name
Summit Credit Union
EIN
39-0230585
Phone
6082435000
Address
PO BOX 8046, MADISON, WI 53708-8046

Signing Officer

Name
Keith Peterson
Title
CFO
Phone
6082435000
Signed
2018-10-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kim Sponem
Formed
1935
Legal Domicile
Wi
Voting Board Members
9
Independent Board Members
9
Employees
643
Volunteers
12

Preparer

Firm
Cliftonlarsonallen Llp
Address
PO BOX 217, AUSTIN, MN 55912
Preparer
Tanya Medgaarden
Phone
5074347000
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 2

“New branch in monona, governor's financial literacy award”

FORM 990, PART XI, LINE 9:

“Net change in defined benefit obligations -786,379. Equity acquired in acquisition 232,742.”

FORM 990, PART XII, LINE 2C:

“The process has not changed from the prior year.”

Financial Statement Notes

PART IV, LINE 2B:

“The credit union acts as a custodian for amounts in escrow for loans to members.”

PART X, LINE 2:

“The credit union is exempt, under internal revenue code 501(c) (14), from federal and state income taxes. Certain products and services provided by select state chartered credit unions have been deemed by the internal revenue service (irs), in technical advice memorandums (tams) released in 2007, to be unrelated to the specific entity's exempt purpose. As presented in the technical advice memorandums the net taxable income from these products and services would be subject to income taxes. Credit unions have litigated against the irs positions noted in the tams and have been successful in having courts declare in 2009 and 2010 that revenue from insurance products sold to members, helping them protect their financial wellbeing, qualifies as exempt purpose income, contrary to the irs position in the tams. The credit union has filed tax returns in the past for activities it has deemed taxable. The taxing authorities have the ability to assess taxes, penalties and interest for any years for which no tax return was filed. In the opinion of management, any liability resulting from taxing authorities imposing income taxes on the net taxable income from activities potentially deemed to be unrelated to the credit union's exempt purpose is not expected to have a material effect on the credit union's financial position or results of operations. As a result, the credit union evaluated its tax positions and determined no uncertain tax positions exist as of december 31, 2017 and 2016. The credit union's 2014 through subsequent tax years are open for examination by federal and state taxing authorities.”

PART XI, LINE 4B - OTHER ADJUSTMENTS:

“Loss on disposition of fixed/foreclosed assets (expense shown in revenue) -421,604.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Loss on disposition of fixed assets (expense shown in revenue) 421,604.”

Raw XML AppendixShowing 400 of 950 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/ActivityOrMissionDesc0A COOPERATIVE, NONPROFIT CORPORATION, INCORPORATED UNDER WISCONSIN STATE LAW TO ENCOURAGE THRIFT AMONG ITS MEMBERS, CREATE A SOURCE OF CREDIT AT A FAIR AND REASONABLE COST, AND PROVIDE AN OPPORTUNITY FOR ITS MEMBERS TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS.
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IRS990/Desc0SUMMIT SERVED OVER 160,000 MEMBERS IN 2017. THE CREDIT UNION CONTINUED TO OFFER ATTRACTIVE RATES ON VARIOUS SAVING AND LENDING PRODUCTS TO HELP MEMBERS IMPROVE THEIR FINANCIAL POSITION. LOANS GREW 17% DURING 2017.
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IRS990/FeesForServicesLegalGrp/TotalAmt0900709
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IRS990/ForeignFinancialAccountInd00
IRS990/ForeignOfficeInd00
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1667633
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IRS990/Form990PartVIISectionAGrp/PersonNm7MARY TURKE
IRS990/Form990PartVIISectionAGrp/PersonNm8DAN KAISER
IRS990/Form990PartVIISectionAGrp/PersonNm9KIM SPONEM
IRS990/Form990PartVIISectionAGrp/PersonNm10KEITH PETERSON
IRS990/Form990PartVIISectionAGrp/PersonNm11REBECCA GEROTHANAS
IRS990/Form990PartVIISectionAGrp/PersonNm12CHRISTOPHER HEFTER
IRS990/Form990PartVIISectionAGrp/PersonNm13JEREMY EPPLER
IRS990/Form990PartVIISectionAGrp/PersonNm14ERIC MATHIAS
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IRS990/Form990PartVIISectionAGrp/PersonNm17MARK KENNEDY
IRS990/Form990PartVIISectionAGrp/PersonNm18KIM KALEPP
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IRS990/Form990PartVIISectionAGrp/PersonNm22TIMOTHY GREENE
IRS990/Form990PartVIISectionAGrp/PersonNm23JAMES HOLDEN
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt230
IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt3CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9CEO/PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt10CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt11SVP OPERATIONS
IRS990/Form990PartVIISectionAGrp/TitleTxt12VP IT
IRS990/Form990PartVIISectionAGrp/TitleTxt13VP RISK MANAGEMENT
IRS990/Form990PartVIISectionAGrp/TitleTxt14VP RETAIL DEVELOPMENT
IRS990/Form990PartVIISectionAGrp/TitleTxt15SVP MARKETING
IRS990/Form990PartVIISectionAGrp/TitleTxt16SVP HR & ORG DEVELOP.
IRS990/Form990PartVIISectionAGrp/TitleTxt17CHIEF LENDING OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt18MANAGING VP BUSINESS SERVI
IRS990/Form990PartVIISectionAGrp/TitleTxt19MORTGAGE LOAN OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt20MORTGAGE LOAN OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt21AVP IT
IRS990/Form990PartVIISectionAGrp/TitleTxt22MORTGAGE LOAN OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt23VP - BUSINESS SERVICES SR
IRS990/Form990ProvidedToGvrnBodyInd00
IRS990/Form990TFiledInd01
IRS990/FormationYr01935
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GainOrLossGrp/OtherAmt0-389056
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt09
IRS990/GrantsToDomesticOrgsGrp/TotalAmt0244512
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd01
IRS990/GrantToRelatedPersonInd00
IRS990/GrossAmountSalesAssetsGrp/OtherAmt0857249
IRS990/GrossReceiptsAmt0136214963
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt09
IRS990/IndivRcvdGreaterThan100KCnt052
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/IntangibleAssetsGrp/BOYAmt0304739
IRS990/IntangibleAssetsGrp/EOYAmt0129032
IRS990/InterestGrp/TotalAmt04557513
IRS990/InvestmentIncomeGrp/ExclusionAmt06654948
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt06739576
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IRS990/InvestmentsProgramRelatedGrp/BOYAmt081642037
IRS990/InvestmentsProgramRelatedGrp/EOYAmt058290893
IRS990/IRPDocumentCnt086195
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt041082790
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IRS990/LandBldgEquipBasisNetGrp/EOYAmt061858074
IRS990/LandBldgEquipCostOrOtherBssAmt0102940864
IRS990/LegalDomicileStateCd0WI
IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt01246305
IRS990/LoanOutstandingInd01
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd01
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0A COOPERATIVE, NONPROFIT CORPORATION, INCORPORATED UNDER WISCONSIN STATE LAW TO ENCOURAGE THRIFT AMONG ITS MEMBERS, CREATE A SOURCE OF CREDIT AT A FAIR AND REASONABLE COST, AND PROVIDE AN OPPORTUNITY FOR ITS MEMBERS TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
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IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt0272347638
IRS990/NetAssetsOrFundBalancesBOYAmt0303429898
IRS990/NetAssetsOrFundBalancesEOYAmt0339900128
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt0-389056
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0-389056
IRS990/NetUnrelatedBusTxblIncmAmt0-189508
IRS990/NetUnrlzdGainsLossesInvstAmt0-779018
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/TotalAmt01955153
IRS990/OfficeExpensesGrp/TotalAmt013850467
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt049346319
IRS990/OtherAssetsTotalGrp/EOYAmt046149095
IRS990/OtherChangesInNetAssetsAmt0-553637
IRS990/OtherEmployeeBenefitsGrp/TotalAmt04025106
IRS990/OtherExpensesGrp/Desc0PROVISION FOR LOAN LOSS
IRS990/OtherExpensesGrp/Desc1LOAN SERVICING EXPENSE
IRS990/OtherExpensesGrp/Desc2MISC. OPERATING EXPENSE
IRS990/OtherExpensesGrp/Desc3PROFESSIONAL & OUTSIDE
IRS990/OtherExpensesGrp/TotalAmt07295000
IRS990/OtherExpensesGrp/TotalAmt17032385
IRS990/OtherExpensesGrp/TotalAmt21562055
IRS990/OtherExpensesGrp/TotalAmt3776017
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IRS990/OtherLiabilitiesGrp/EOYAmt02241783239
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IRS990/OtherRevenueMiscGrp/BusinessCd0900099
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IRS990/OtherRevenueTotalAmt0-32555
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IRS990/OthNotesLoansReceivableNetGrp/EOYAmt02370751242
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IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt02289569
IRS990/PoliticalCampaignActyInd00
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt02604309
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IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/BusinessCd1900099
IRS990/ProgramServiceRevenueGrp/BusinessCd2522100
IRS990/ProgramServiceRevenueGrp/Desc0LOAN INTEREST
IRS990/ProgramServiceRevenueGrp/Desc1OTHER OPERATING INCOME
IRS990/ProgramServiceRevenueGrp/Desc2FEES & SERVICE CHGS
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt088721478
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt128977474
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt210798094
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt088721478
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt128977474
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt210951741
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt0153647
IRS990/ProgSrvcAccomActy2Grp/Desc0SUMMIT CREATED AND SUPPORTS THE STAR CREDIT UNION, SERVING MEMBERS OF THE MADISON BOYS AND GIRLS CLUB WITH FINANCIAL EDUCATION AND SERVICES, AND WE OPERATE BRANCHES IN THREE HIGH SCHOOLS TO SERVE STUDENTS. WE OFFER ADDITIONAL FINANCIAL EDUCATION SESSIONS IN THE COMMUNITIES WE SERVE.
IRS990/ProgSrvcAccomActy3Grp/Desc0WE SUPPORT NUMEROUS COMMUNITY ORGANIZATIONS, INCLUDING UNITED WAY, SECOND HARVEST FOODBANK, SUNSHINE PLACE, JUVENILE DIABETES RESEARCH FOUNDATION, AND COMMONWEALTH DEVELOPMENT.
IRS990/ProhibitedTaxShelterTransInd00

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,900,501,513
Liabilities
$2,560,601,385
Net assets
$339,900,128
Revenue
$134,968,658
Expenses
$97,165,773
Net income
$37,802,885
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$7,458$6,775$683$454$395$58.4
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6,945$6,333$612$345$293$51.1
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$6,225$5,677$548$231$180$51.4
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4,831$4,275$556$219$142$77.4
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$4,326$3,836$490$219$160$59.1
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3,690$3,266$424$183$139$43.7
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3,224$2,846$378$154$114$39.1
2017Detailed filing. Detailed filing data is available for this year.$2,901$2,561$340$135$97.2$37.8
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2,665$2,361$303$125$90.4$35.0
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2,389$2,118$270$108$79.0$29.0
2014Detailed filing. Detailed filing data is available for this year.$2,076$1,834$242$96.9$72.6$24.3
2013Detailed filing. Detailed filing data is available for this year.$1,956$1,740$216$96.7$69.1$27.6
2012Summary only. Only limited summary data is available for this year.$1,887$1,695$191$106$74.1$31.5
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1,736$1,579$157$76.2
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1,581$1,444$137$78.3