Civic Intelligence

Bay Shore Credit Union

990 • Fiscal year 2015 • EIN 39-0963263

Jan 01, 2015 to Dec 31, 2015 • Filed on Mar 31, 2016

Organization ProfileWWW.BAYSHORECU.ORG

View Organization Page

PO Box 655Marinette, WI 54143

(715) 732-0065

Siviq Scores

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

Liabilities / Assets

17th percentile

0.83x

Higher debt load relative to assets than 17% of similar nonprofits.

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

Liabilities / Revenue

53rd percentile

20.95x

Higher debt load relative to revenue than 53% of similar nonprofits.

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

Net Margin

81st percentile

16%

Higher net margin than 81% of similar nonprofits.

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

Top Officer Pay

41st percentile

$88,098

Higher top officer pay than 41% of similar nonprofits.

Top officer pay equals 7.8% of source-year revenue.

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

Asset Growth

22nd percentile

-0.2%

Faster asset growth than 22% of similar nonprofits.

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

Revenue Growth

71st percentile

4.3%

Faster revenue growth than 71% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets17th percentile

Assets

Down

$28,562,053

Down $59,157 (-0.2%) from 2014

Net Assets

Up

$4,836,269

Up $178,824 (+3.8%) from 2014

Liabilities

Down

$23,725,784

Down $237,981 (-1.0%) from 2014

Revenue And Expenses
Liabilities / Revenue53rd percentileNet Margin81st percentile

Revenue

Up

$1,132,504

Up $46,361 (+4.3%) from 2014

Expenses

Up

$953,680

Up $15,592 (+1.7%) from 2014

Net Income

Up

$178,824

Up $30,769 (+21%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth22nd percentile

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

$60M$40M$20M$0Assets 2010: $25,624,356Liabilities 2010: $21,461,960Net Assets 2010: $4,162,3962010Assets 2011: $25,867,351Liabilities 2011: $21,563,765Net Assets 2011: $4,303,5862011Assets 2012: $27,296,624Liabilities 2012: $22,874,221Net Assets 2012: $4,422,4032012Assets 2013: $28,083,285Liabilities 2013: $23,573,895Net Assets 2013: $4,509,3902013Assets 2014: $28,621,210Liabilities 2014: $23,963,765Net Assets 2014: $4,657,4452014Assets 2015: $28,562,053Liabilities 2015: $23,725,784Net Assets 2015: $4,836,2692015Assets 2016: $28,510,457Liabilities 2016: $23,533,943Net Assets 2016: $4,976,5142016Assets 2017: $29,239,557Liabilities 2017: $24,073,467Net Assets 2017: $5,166,0902017Assets 2018: $30,826,354Liabilities 2018: $25,324,923Net Assets 2018: $5,501,4312018Assets 2019: $32,259,029Liabilities 2019: $26,355,045Net Assets 2019: $5,903,9842019Assets 2020: $38,175,128Liabilities 2020: $31,950,246Net Assets 2020: $6,224,8822020Assets 2021: $44,561,621Liabilities 2021: $38,184,662Net Assets 2021: $6,376,9592021

Highlighted filing

2015

Assets$28,562,053
Liabilities$23,725,784
Net Assets$4,836,269
Open 2015 Filing

Operations Trend

Revenue Growth71st percentile

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

$2.0M$1.5M$1.0M$500K$0Expenses 2010: $1,131,6172010Expenses 2011: $1,014,9522011Expenses 2012: $983,5812012Revenue 2013: $1,039,533Expenses 2013: $952,546Net Income 2013: $86,9872013Revenue 2014: $1,086,143Expenses 2014: $938,088Net Income 2014: $148,0552014Revenue 2015: $1,132,504Expenses 2015: $953,680Net Income 2015: $178,8242015Revenue 2016: $1,166,843Expenses 2016: $1,026,598Net Income 2016: $140,2452016Revenue 2017: $1,214,364Expenses 2017: $1,024,788Net Income 2017: $189,5762017Revenue 2018: $1,374,116Expenses 2018: $1,038,775Net Income 2018: $335,3412018Revenue 2019: $1,563,706Expenses 2019: $1,161,153Net Income 2019: $402,5532019Revenue 2020: $1,532,103Expenses 2020: $1,211,205Net Income 2020: $320,8982020Revenue 2021: $1,398,581Expenses 2021: $1,246,504Net Income 2021: $152,0772021

Highlighted filing

2015

Revenue$1,132,504
Expenses$953,680
Net Income$178,824
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Mar 31, 2016
Return Version
2015v2.1
Gross Receipts
$1,132,504
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
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$13,946,550$14,589,798▲ $643,248
Savings and Temporary Cash Investments$6,621,976$6,625,837▲ $3,861
Investments Program Related$6,944,625$6,193,658▼ $750,967
Rtn Earn Endowment Incm Other Fnds$4,657,445$4,836,269▲ $178,824
Cash and Non-Interest-Bearing Accounts$571,282$608,996▲ $37,714
Land, Buildings, and Equipment, Net$176,763$185,554▲ $8,791
Prepaid Expenses and Deferred Charges$40,300$43,320▲ $3,020
Accounts Receivable$75$75→ $0
Total Assets$28,621,210$28,562,053▼ $59,157
Other Assets Total$319,639$314,815▼ $4,824
Liabilities
Other Liabilities$23,870,127$23,603,889▼ $266,238
Accounts Payable and Accrued Expenses$93,159$121,496▲ $28,337
Escrow Account Liability$479$399▼ $80
Total Liabilities$23,963,765$23,725,784▼ $237,981
Net Assets / Fund Balance
Total Net Assets Fund Balance$4,657,445$4,836,269▲ $178,824
Total Liabilities and Net Assets / Fund Balance$28,621,210$28,562,053▼ $59,157

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$144,811$206,419$351,230
Equipment$25,743$273,991$299,734
Land$15,000-$15,000
Investment Program Related Org$214,658--
Compensation and Service Providers
Top Officer Pay41st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Vicki CarviouPresidentFT$68,953$19,145$88,098
Craig ButlerDirector--$17$17
Oscar SeefeldtChairman--$17$17
James EngmanSecretary--$17$17
Mitch HubertVice Charima--$17$17
Steven HansenTreasurer--$17$17
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,003,339
Investment Income
$126,569
Other Revenue
$2,596
Change in Net Assets
$178,824
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$494,951
Other Expenses$458,729
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$295,222
Office Expenses---$200,722
Other Employee Benefits---$76,227
Information Technology---$74,525
Current Officers, Directors, Trustees, and Key Employees---$68,953
Depreciation Depletion---$30,533
Occupancy---$28,975
Pension Plan Contributions---$27,869
Payroll Taxes---$26,680
Fees for Services Other---$23,879
Insurance---$18,968
Advertising---$9,221
Other Expenses---$6,155
Conferences and Meetings---$1,888
Travel---$954
Total Functional Expenses$0$0$0$953,680
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Member Shares & Deposits$23,563,390
457b Plan Liability$40,898
Adjust Shares for Escrow$-399
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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, 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 preparer who prepares the return. Management and the internal auditor review the return for accuracy, and then authorizes preparer to e-file the approved return. Management reviews the return with the directors 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 a 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 a board meeting and recorded in the minutes.”

Form 990, Page 6, Part VI, Line 19

“Governing documents avaiable upon request. Monthly financial statements are posted on the member bulletin board located in the entrance of the credit union.”

Filing and Contact Details

Filer

Filer Name
Bay Shore Credit Union
EIN
39-0963263
Phone
7157320065
Address
PO BOX 655, MARINETTE, WI 54143

Signing Officer

Name
Vicki Carviou
Title
President
Phone
7157320065
Signed
2016-03-31

Organization Details

Principal Officer
Vicki Carviou
Formed
1953
Legal Domicile
Wi
Voting Board Members
5
Independent Board Members
5
Employees
14
Volunteers
5

Preparer

Preparer
Peter Rasmussen
Supplemental Narrative

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 Appendix336 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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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1457B PLAN LIABILITY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2ADJUST SHARES FOR ESCROW
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CREDIT UNION HOLDS FUNDS IN ESCROW ACCOUNTS FOR PROPERTY TAXES AND HOMEOWNERS INSURANCE RELATED TO MORTGAGE LOANS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 2, PART IV, LINE 2B
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0185554
IRS990ScheduleD/TotalBookValueProgramRltdAmt06193658
IRS990ScheduleD/TotalLiabilityAmt023603889
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS MEMBERS. TO BE A MEMBER, YOU MUST HAVE A SHARE (SAVINGS) ACCOUNT AT THE CREDIT UNION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD OF DIRECTORS IS ELECTED BY THE CREDIT UNION MEMBERS. EACH MEMBER HAS ONE VOTE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A 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/ExplanationTxt3MANAGEMENT PROVIDES NECESSARY DATA TO INDEPENDENT PREPARER WHO PREPARES THE RETURN. MANAGEMENT AND THE INTERNAL AUDITOR REVIEW THE RETURN FOR ACCURACY, AND THEN AUTHORIZES PREPARER TO E-FILE THE APPROVED RETURN. MANAGEMENT REVIEWS THE RETURN WITH THE DIRECTORS AT THE NEXT BOARD MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CODE 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/ExplanationTxt5THE SALARY REVIEW COMMITTEE IS PROVIDED WITH COMPARABLE STATISTICS FROM THE WI CU LEAGUE SALARY SURVEY. APPROVAL IS OBTAINED AT A BOARD MEETING AND RECORDED IN THE MINUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE SALARY REVIEW COMMITTEE IS PROVIDED WITH COMPARABLE STATISTICS FROM THE WI CU LEAGUE SALARY SURVEY. APPROVAL IS OBTAINED AT A BOARD MEETING AND RECORDED IN THE MINUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7GOVERNING DOCUMENTS AVAIABLE UPON REQUEST. MONTHLY FINANCIAL STATEMENTS ARE POSTED ON THE MEMBER BULLETIN BOARD LOCATED IN THE ENTRANCE OF THE CREDIT UNION.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt028621210
IRS990/TotalAssetsEOYAmt028562053
IRS990/TotalAssetsGrp/BOYAmt028621210
IRS990/TotalAssetsGrp/EOYAmt028562053
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt014
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0953680
IRS990/TotalGrossUBIAmt09643
IRS990/TotalLiabilitiesBOYAmt023963765
IRS990/TotalLiabilitiesEOYAmt023725784
IRS990/TotalLiabilitiesGrp/BOYAmt023963765
IRS990/TotalLiabilitiesGrp/EOYAmt023725784
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt04657445
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt04836269
IRS990/TotalOtherCompensationAmt019230
IRS990/TotalProgramServiceRevenueAmt01003339
IRS990/TotalReportableCompFromOrgAmt068953
IRS990/TotalRevenueGrp/ExclusionAmt0129165
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0993696
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01132504
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt09643
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt028621210
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt028562053
IRS990/TravelGrp/TotalAmt0954
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0true
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 655
IRS990/USAddress/CityNm0MARINETTE
IRS990/USAddress/StateAbbreviationCd0WI
IRS990/USAddress/ZIPCd054143
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.BAYSHORECU.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02016-09-27 15:27:22Z
ReturnHeader/BusinessOfficerGrp/PersonNm0VICKI CARVIOU
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07157320065
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-03-31
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0BAY SHORE CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0BAYS
ReturnHeader/Filer/EIN0390963263
ReturnHeader/Filer/PhoneNum07157320065
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 655
ReturnHeader/Filer/USAddress/CityNm0MARINETTE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0WI
ReturnHeader/Filer/USAddress/ZIPCd054143
ReturnHeader/PreparerPersonGrp/PreparationDt02016-04-28
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0PETER RASMUSSEN
ReturnHeader/ReturnTs02016-04-28T14:14:11-05:00
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
$28,562,053
Liabilities
$23,725,784
Net assets
$4,836,269
Revenue
$1,132,504
Expenses
$953,680
Net income
$178,824
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$44.6$38.2$6.38$1.40$1.25$0.15
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$38.2$32.0$6.22$1.53$1.21$0.32
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$32.3$26.4$5.90$1.56$1.16$0.40
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$30.8$25.3$5.50$1.37$1.04$0.34
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$29.2$24.1$5.17$1.21$1.02$0.19
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$28.5$23.5$4.98$1.17$1.03$0.14
2015Detailed filing. Detailed filing data is available for this year.$28.6$23.7$4.84$1.13$0.95$0.18
2014Detailed filing. Detailed filing data is available for this year.$28.6$24.0$4.66$1.09$0.94$0.15
2013Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$28.1$23.6$4.51$1.04$0.95$0.09
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$27.3$22.9$4.42$0.98
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$25.9$21.6$4.30$1.01
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$25.6$21.5$4.16$1.13