Liabilities / Assets
19th percentile
Higher debt load relative to assets than 19% of similar nonprofits.
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.84x
Liabilities / Revenue
68th percentile
Higher debt load relative to revenue than 68% of similar nonprofits.
Net Margin
60th percentile
Higher net margin than 60% of similar nonprofits.
Top Officer Pay
35th percentile
Higher top officer pay than 35% of similar nonprofits.
Top officer pay equals 8.0% of source-year revenue.
Asset Growth
59th percentile
Faster asset growth than 59% of similar nonprofits.
Revenue Growth
Score unavailable
No earlier valid filing was available within the previous three public years.
Balance Sheet
Assets
Up$28,083,285
Up $786,661 (+2.9%) from 2012
Net Assets
Up$4,509,390
Up $86,987 (+2.0%) from 2012
Liabilities
Up$23,573,895
Up $699,674 (+3.1%) from 2012
Revenue And Expenses
Revenue
$1,039,533
No earlier filing loaded for comparison.
Expenses
Down$952,546
Down $31,035 (-3.2%) from 2012
Net Income
$86,987
No earlier filing loaded for comparison.
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jan 1, 2013 to Dec 31, 2013
- Signed
- Jun 23, 2014
- Return Version
- 2013v3.1
- Gross Receipts
- $1,039,533
Mission and Program Overview
Mission
To encourage thrift among our members, to create a source of credit at a fair and reasonable cost, and to provide an opportunity for each of our members to improve their respective economic and social conditions.
SERVE OUR MEMBERS.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Other Notes and Loans Receivable, Net | $13,773,077 | $13,600,434 | ▼ $172,643 |
| Savings and Temporary Cash Investments | $8,569,291 | $8,864,287 | ▲ $294,996 |
| Investments Program Related | $4,187,012 | $4,830,735 | ▲ $643,723 |
| Rtn Earn Endowment Incm Other Fnds | $4,422,403 | $4,509,390 | ▲ $86,987 |
| Cash and Non-Interest-Bearing Accounts | $230,272 | $263,332 | ▲ $33,060 |
| Land, Buildings, and Equipment, Net | $195,799 | $186,466 | ▼ $9,333 |
| Prepaid Expenses and Deferred Charges | $45,080 | $20,060 | ▼ $25,020 |
| Accounts Receivable | $75 | $75 | → $0 |
| Total Assets | $27,296,624 | $28,083,285 | ▲ $786,661 |
| Other Assets Total | $296,018 | $317,896 | ▲ $21,878 |
| Liabilities | |||
| Other Liabilities | $22,770,382 | $23,478,660 | ▲ $708,278 |
| Accounts Payable and Accrued Expenses | $103,404 | $94,771 | ▼ $8,633 |
| Escrow Account Liability | $435 | $464 | ▲ $29 |
| Total Liabilities | $22,874,221 | $23,573,895 | ▲ $699,674 |
| Net Assets / Fund Balance | |||
| Total Net Assets Fund Balance | $4,422,403 | $4,509,390 | ▲ $86,987 |
| Total Liabilities and Net Assets / Fund Balance | $27,296,624 | $28,083,285 | ▲ $786,661 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Buildings | $135,973 | $206,210 | $342,183 |
| Equipment | $35,493 | $274,702 | $310,195 |
| Land | $15,000 | - | $15,000 |
| Investment Program Related Org | $204,735 | - | - |
Compensation and Service Providers
Employees
| Name | Title | Full / Part Time | Base | Other | Total |
|---|---|---|---|---|---|
| Vicki Carviou | President | FT | $62,099 | $20,583 | $82,682 |
| Craaig Butler | Director | - | - | $17 | $17 |
| Oscar Seefeldt | Chairman | - | - | $17 | $17 |
| James Engman | Director | - | - | $17 | $17 |
| Mitch Hubert | Vice Charima | - | - | $17 | $17 |
| Roland Demeuse | Secretary | - | - | $17 | $17 |
| Steven Hansen | Treasurer | - | - | $17 | $17 |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $0
- Program Service Revenue
- $952,535
- Investment Income
- $85,056
- Other Revenue
- $1,942
- Change in Net Assets
- $86,987
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Other Expenses | $490,273 |
| Salaries, Compensation, and Employee Benefits | $462,273 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Other Salaries and Wages | - | - | - | $282,681 |
| Office Expenses | - | - | - | $176,892 |
| Information Technology | - | - | - | $71,773 |
| Other Employee Benefits | - | - | - | $64,044 |
| Current Officers, Directors, Trustees, and Key Employees | - | - | - | $62,099 |
| Occupancy | - | - | - | $32,088 |
| Insurance | - | - | - | $29,691 |
| Pension Plan Contributions | - | - | - | $28,281 |
| Fees for Services Other | - | - | - | $27,599 |
| Payroll Taxes | - | - | - | $25,168 |
| Depreciation Depletion | - | - | - | $22,281 |
| Other Expenses | - | - | - | $10,700 |
| Advertising | - | - | - | $6,518 |
| Conferences and Meetings | - | - | - | $3,349 |
| Travel | - | - | - | $1,422 |
| Total Functional Expenses | $0 | $0 | $0 | $952,546 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
Political and Lobbying Activity
- Political campaign activity
- No
- Subject to proxy tax
- No
Debt and Bond Financing
Other Reported Liabilities
| Liability | Amount |
|---|---|
| Member Shares & Deposits | $23,429,542 |
| 457b Plan Liability | $49,582 |
| Adjust Shares to Escrow | $-464 |
Governance and Compliance
Governance Checklist
- Compiled or reviewed by an accountant
- No
- Annual disclosure for covered persons
- 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, Page 6, Part VI, Line 6
“The organization has members. To be a member, you must have a share (savings) account at the credit union.”
Form 990, Page 6, Part VI, Line 7A
“The board of directors is elected by the credit union members. Each member has one vote.”
Form 990, Page 6, Part VI, Line 7B
“A member vote is required for decisions which are beyond the authority of the board of directors. Items which require a membership vote are outlined and specified in our bylaws. Each member has one vote.”
Form 990, Page 6, Part VI, Line 11B
“Management provides necessary data to independent cpa who prepares the return. Management and the internal auditor reviews the return for correctness, and then authorizes cpa to file the approved return. Management reviews the return with the board at the next board meeting.”
Form 990, Page 6, Part VI, Line 12C
“Code of conduct and code of ethics policies are reviewed and discussed annually with directors and employees. Directors and employees sign a statement of acknowledge/understanding and are required to disclose any possible conflicts of interest.”
Form 990, Page 6, Part VI, Line 15A
“The salary review committee is provided with comparable statistics from the wi cu league salary survey. Approval is obtained at the board meeting and recorded in the minutes.”
Form 990, Page 6, Part VI, Line 15B
“The salary review committee is provided with comparable statistics from the wi cu league salary survey. Approval is obtained at the board meeting and recorded in the minutes.”
Form 990, Page 6, Part VI, Line 19
“Monthly financial statements are posted on the member bulletin board located in the entrance of the credit union. Other items are by request.”
Filing and Contact Details
Filer
- EIN
- 39-0963263
- Phone
- 7157320065
Signing Officer
- Name
- Vicki Carviou
- Title
- President
- Phone
- 7157320065
- Signed
- 2014-06-23
Organization Details
- Principal Officer
- Vicki Carviou
- Formed
- 1953
- Legal Domicile
- Wi
- Voting Board Members
- 5
- Independent Board Members
- 5
- Employees
- 10
- Volunteers
- 6
Preparer
- Preparer
- Brent Wookey CPA
Supplemental Narrative
Additional Explanations
Form 990, Page 5, Part V, Line 3B
“The credit union will file the 990-t by its extended due date of november 15th.”
Financial Statement Notes
Schedule D, Page 2, Part IV, Line 2B
“The credit union holds funds in escrow accounts for property taxes and homeowners insurance related to mortgage loans.”
Raw XML Appendix347 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/SavingsAndTempCashInvstGrp/EOYAmt | 0 | 8864287 |
| IRS990/ScheduleBRequiredInd | 0 | false |
| IRS990ScheduleD/AgentTrusteeEtcInd | 0 | false |
| IRS990ScheduleD/BuildingsGrp/BookValueAmt | 0 | 135973 |
| IRS990ScheduleD/BuildingsGrp/DepreciationAmt | 0 | 206210 |
| IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt | 0 | 342183 |
| IRS990ScheduleD/EquipmentGrp/BookValueAmt | 0 | 35493 |
| IRS990ScheduleD/EquipmentGrp/DepreciationAmt | 0 | 274702 |
| IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt | 0 | 310195 |
| IRS990ScheduleD/ExplanationProvidedInd | 0 | X |
| IRS990ScheduleD/InclEscrowCustodialAcctLiabInd | 0 | true |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt | 0 | 4626000 |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt | 1 | 204735 |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc | 0 | INVESTMENTS > 1 YR MATURITY |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc | 1 | CORP CENTRAL CAPITAL A/C'S |
| IRS990ScheduleD/LandGrp/BookValueAmt | 0 | 15000 |
| IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt | 0 | 15000 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 0 | 23429542 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 1 | 49582 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 2 | -464 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 0 | MEMBER SHARES & DEPOSITS |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 1 | 457B PLAN LIABILITY |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 2 | ADJUST SHARES TO ESCROW |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 0 | THE CREDIT UNION HOLDS FUNDS IN ESCROW ACCOUNTS FOR PROPERTY TAXES AND HOMEOWNERS INSURANCE RELATED TO MORTGAGE LOANS. |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | SCHEDULE D, PAGE 2, PART IV, LINE 2B |
| IRS990ScheduleD/TotalBookValueLandBuildingsAmt | 0 | 186466 |
| IRS990ScheduleD/TotalBookValueProgramRltdAmt | 0 | 4830735 |
| IRS990ScheduleD/TotalLiabilityAmt | 0 | 23478660 |
| IRS990/ScheduleJRequiredInd | 0 | false |
| IRS990/ScheduleORequiredInd | 0 | true |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | THE CREDIT UNION WILL FILE THE 990-T BY ITS EXTENDED DUE DATE OF NOVEMBER 15TH. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | THE ORGANIZATION HAS MEMBERS. TO BE A MEMBER, YOU MUST HAVE A SHARE (SAVINGS) ACCOUNT AT THE CREDIT UNION. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | THE BOARD OF DIRECTORS IS ELECTED BY THE CREDIT UNION MEMBERS. EACH MEMBER HAS ONE VOTE. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | A MEMBER VOTE IS REQUIRED FOR DECISIONS WHICH ARE BEYOND THE AUTHORITY OF THE BOARD OF DIRECTORS. ITEMS WHICH REQUIRE A MEMBERSHIP VOTE ARE OUTLINED AND SPECIFIED IN OUR BYLAWS. EACH MEMBER HAS ONE VOTE. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | MANAGEMENT PROVIDES NECESSARY DATA TO INDEPENDENT CPA WHO PREPARES THE RETURN. MANAGEMENT AND THE INTERNAL AUDITOR REVIEWS THE RETURN FOR CORRECTNESS, AND THEN AUTHORIZES CPA TO FILE THE APPROVED RETURN. MANAGEMENT REVIEWS THE RETURN WITH THE BOARD AT THE NEXT BOARD MEETING. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 5 | CODE OF CONDUCT AND CODE OF ETHICS POLICIES ARE REVIEWED AND DISCUSSED ANNUALLY WITH DIRECTORS AND EMPLOYEES. DIRECTORS AND EMPLOYEES SIGN A STATEMENT OF ACKNOWLEDGE/UNDERSTANDING AND ARE REQUIRED TO DISCLOSE ANY POSSIBLE CONFLICTS OF INTEREST. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 6 | THE SALARY REVIEW COMMITTEE IS PROVIDED WITH COMPARABLE STATISTICS FROM THE WI CU LEAGUE SALARY SURVEY. APPROVAL IS OBTAINED AT THE BOARD MEETING AND RECORDED IN THE MINUTES. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 7 | THE SALARY REVIEW COMMITTEE IS PROVIDED WITH COMPARABLE STATISTICS FROM THE WI CU LEAGUE SALARY SURVEY. APPROVAL IS OBTAINED AT THE BOARD MEETING AND RECORDED IN THE MINUTES. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 8 | MONTHLY FINANCIAL STATEMENTS ARE POSTED ON THE MEMBER BULLETIN BOARD LOCATED IN THE ENTRANCE OF THE CREDIT UNION. OTHER ITEMS ARE BY REQUEST. |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | FORM 990, PAGE 5, PART V, LINE 3B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | FORM 990, PAGE 6, PART VI, LINE 6 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | FORM 990, PAGE 6, PART VI, LINE 7A |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | FORM 990, PAGE 6, PART VI, LINE 7B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | FORM 990, PAGE 6, PART VI, LINE 11B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 5 | FORM 990, PAGE 6, PART VI, LINE 12C |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 6 | FORM 990, PAGE 6, PART VI, LINE 15A |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 7 | FORM 990, PAGE 6, PART VI, LINE 15B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 8 | FORM 990, PAGE 6, PART VI, LINE 19 |
| IRS990/SchoolOperatingInd | 0 | false |
| IRS990/SignificantChangeInd | 0 | false |
| IRS990/SignificantNewProgramSrvcInd | 0 | false |
| IRS990/SubjectToProxyTaxInd | 0 | false |
| IRS990/TaxablePartyNotificationInd | 0 | false |
| IRS990/TaxExemptBondsInd | 0 | false |
| IRS990/TempOrPermanentEndowmentsInd | 0 | false |
| IRS990/TerminateOperationsInd | 0 | false |
| IRS990/TotalAssetsBOYAmt | 0 | 27296624 |
| IRS990/TotalAssetsEOYAmt | 0 | 28083285 |
| IRS990/TotalAssetsGrp/BOYAmt | 0 | 27296624 |
| IRS990/TotalAssetsGrp/EOYAmt | 0 | 28083285 |
| IRS990/TotalCompGreaterThan150KInd | 0 | false |
| IRS990/TotalEmployeeCnt | 0 | 10 |
| IRS990/TotalFunctionalExpensesGrp/FundraisingAmt | 0 | 0 |
| IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt | 0 | 0 |
| IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt | 0 | 0 |
| IRS990/TotalFunctionalExpensesGrp/TotalAmt | 0 | 952546 |
| IRS990/TotalGrossUBIAmt | 0 | 8489 |
| IRS990/TotalLiabilitiesBOYAmt | 0 | 22874221 |
| IRS990/TotalLiabilitiesEOYAmt | 0 | 23573895 |
| IRS990/TotalLiabilitiesGrp/BOYAmt | 0 | 22874221 |
| IRS990/TotalLiabilitiesGrp/EOYAmt | 0 | 23573895 |
| IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt | 0 | 4422403 |
| IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt | 0 | 4509390 |
| IRS990/TotalOtherCompensationAmt | 0 | 20685 |
| IRS990/TotalProgramServiceRevenueAmt | 0 | 952535 |
| IRS990/TotalReportableCompFromOrgAmt | 0 | 62099 |
| IRS990/TotalRevenueGrp/ExclusionAmt | 0 | 86998 |
| IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 944046 |
| IRS990/TotalRevenueGrp/TotalRevenueColumnAmt | 0 | 1039533 |
| IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt | 0 | 8489 |
| IRS990/TotalVolunteersCnt | 0 | 6 |
| IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt | 0 | 27296624 |
| IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt | 0 | 28083285 |
| IRS990/TravelGrp/TotalAmt | 0 | 1422 |
| IRS990/TypeOfOrganizationCorpInd | 0 | X |
| IRS990/UnrelatedBusIncmOverLimitInd | 0 | true |
| IRS990/UponRequestInd | 0 | X |
| IRS990/USAddress/AddressLine1 | 0 | PO BOX 655 |
| IRS990/USAddress/City | 0 | MARINETTE |
| IRS990/USAddress/State | 0 | WI |
| IRS990/USAddress/ZIPCode | 0 | 54143 |
| IRS990/VotingMembersGoverningBodyCnt | 0 | 5 |
| IRS990/VotingMembersIndependentCnt | 0 | 5 |
| IRS990/WebsiteAddressTxt | 0 | WWW.BAYSHORECU.ORG |
| IRS990/WhistleblowerPolicyInd | 0 | true |
| ReturnHeader/BuildTS | 0 | 2015-11-30 17:44:51Z |
| ReturnHeader/BusinessOfficerGrp/PersonNm | 0 | VICKI CARVIOU |
| ReturnHeader/BusinessOfficerGrp/PersonTitleTxt | 0 | PRESIDENT |
| ReturnHeader/BusinessOfficerGrp/PhoneNum | 0 | 7157320065 |
| ReturnHeader/BusinessOfficerGrp/SignatureDt | 0 | 2014-06-23 |
| ReturnHeader/Filer/BusinessName/BusinessNameLine1 | 0 | BAY SHORE CREDIT UNION |
| ReturnHeader/Filer/BusinessNameControlTxt | 0 | BAYS |
| ReturnHeader/Filer/EIN | 0 | 390963263 |
| ReturnHeader/Filer/PhoneNum | 0 | 7157320065 |
| ReturnHeader/Filer/USAddress/AddressLine1 | 0 | PO BOX 655 |
| ReturnHeader/Filer/USAddress/City | 0 | MARINETTE |
| ReturnHeader/Filer/USAddress/State | 0 | WI |
| ReturnHeader/Filer/USAddress/ZIPCode | 0 | 54143 |
| ReturnHeader/PreparerPersonGrp/PreparationDt | 0 | 2014-07-03 |
| ReturnHeader/PreparerPersonGrp/PreparerPersonNm | 0 | BRENT WOOKEY CPA |
| ReturnHeader/ReturnTs | 0 | 2014-07-03T12:28:40-05:00 |
| ReturnHeader/ReturnTypeCd | 0 | 990 |
| ReturnHeader/TaxPeriodBeginDt | 0 | 2013-01-01 |
| ReturnHeader/TaxPeriodEndDt | 0 | 2013-12-31 |
| ReturnHeader/TaxYr | 0 | 2013 |
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.
- Assets
- $28,083,285
- Liabilities
- $23,573,895
- Net assets
- $4,509,390
- Revenue
- $1,039,533
- Expenses
- $952,546
- Net income
- $86,987
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