Civic Intelligence

Water Light Credit Union

990 • Fiscal year 2016 • EIN 39-0978885

Jan 01, 2016 to Dec 31, 2016 • Filed on Feb 24, 2017

Organization ProfileN/A
1225 Tower AvenueSuperior, WI 54880

(715) 392-4524

Siviq Scores

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

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on this filing.

Source year 2016

Liabilities / Revenue

58th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2016 filings • <$500k nonprofits • Source year 2016

Net Margin

3rd percentile

-443%

Higher net margin than 3% of similar nonprofits.

2016 filings • <$500k nonprofits • Source year 2016

Top Officer Pay

76th percentile

$0

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2016 filings • <$500k nonprofits • Source year 2016

Asset Growth

2nd percentile

-100%

Faster asset growth than 2% of similar nonprofits.

2016 filings • <$500k nonprofits • Annualized from 2015 to 2016

Revenue Growth

57th percentile

3.8%

Faster revenue growth than 57% of similar nonprofits.

2016 filings • <$500k nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / AssetsScore unavailable

Assets

Down

$0

Down $1,399,380 (-100%) from 2015

Net Assets

Down

$0

Down $191,594 (-100%) from 2015

Liabilities

Down

$0

Down $1,207,786 (-100%) from 2015

Revenue And Expenses
Liabilities / Revenue58th percentileNet Margin3rd percentile

Revenue

Up

$43,239

Up $1,578 (+3.8%) from 2015

Expenses

Up

$234,833

Up $193,752 (+472%) from 2015

Net Income

Down

-$191,594

Down $192,174 (-33133%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth2nd percentile

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

$1.5M$1.0M$500K$0Assets 2010: $1,248,162Liabilities 2010: $1,052,121Net Assets 2010: $196,0412010Assets 2011: $1,317,428Liabilities 2011: $1,119,198Net Assets 2011: $198,2302011Assets 2012: $1,305,367Liabilities 2012: $1,109,685Net Assets 2012: $195,6822012Assets 2013: $1,319,886Liabilities 2013: $1,125,411Net Assets 2013: $194,4752013Assets 2014: $1,296,080Liabilities 2014: $1,105,066Net Assets 2014: $191,0142014Assets 2015: $1,399,380Liabilities 2015: $1,207,786Net Assets 2015: $191,5942015Assets 2016: $0Liabilities 2016: $0Net Assets 2016: $02016

Highlighted filing

2016

Assets$0
Liabilities$0
Net Assets$0
Open 2016 Filing

Operations Trend

Revenue Growth57th percentile

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

$400K$200K$0-$200KExpenses 2010: $52,7692010Revenue 2011: $50,502Expenses 2011: $48,313Net Income 2011: $2,1892011Expenses 2012: $49,2892012Revenue 2013: $42,903Expenses 2013: $44,110Net Income 2013: -$1,2072013Revenue 2014: $44,188Expenses 2014: $47,649Net Income 2014: -$3,4612014Revenue 2015: $41,661Expenses 2015: $41,081Net Income 2015: $5802015Revenue 2016: $43,239Expenses 2016: $234,833Net Income 2016: -$191,5942016

Highlighted filing

2016

Revenue$43,239
Expenses$234,833
Net Income-$191,594
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Feb 24, 2017
Return Version
2016v3.0
Gross Receipts
$43,239
Mission and Program Overview

Mission

The water-light credit union is a service provider to the employees of superior water, light and power. The credit unions mission is to provide support for the financial needs of our members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$906,921--
Other Notes and Loans Receivable, Net$465,133--
Rtn Earn Endowment Incm Other Fnds$191,594--
Investments Program Related$17,831--
Land, Buildings, and Equipment, Net$2,997--
Cash and Non-Interest-Bearing Accounts$2,925--
Prepaid Expenses and Deferred Charges$1,194--
Total Assets$1,399,380$0▼ $1,399,380
Other Assets Total$2,379--
Liabilities
Other Liabilities$1,207,161--
Accounts Payable and Accrued Expenses$625--
Total Liabilities$1,207,786$0▼ $1,207,786
Net Assets / Fund Balance
Total Net Assets Fund Balance$191,594$0▼ $191,594
Total Liabilities and Net Assets / Fund Balance$1,399,380$0▼ $1,399,380
Compensation and Service Providers
Top Officer Pay76th percentile

Board Members and Trustees

NameTitle
Florence CoreyChairman
Lyn LarsonPresident
Peggy CampbellVice-chair
David OlsonDirector
Dennis BattuelloDirector
Diane KiszewskiDirector
Lucy NielsenSecretary
Michele DesmetTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$29,213
Investment Income
$14,026
Other Revenue
$0
Change in Net Assets
$-191,594
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$234,833
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$131,133--$131,133
Fees for Services Other---$31,193
Information Technology---$3,428
Insurance---$2,476
Depreciation Depletion---$1,384
Office Expenses---$1,223
All Other Expenses---$1,181
Conferences and Meetings---$289
Total Functional Expenses$0$0$0$234,833
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
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Members or stockholder classes and rights Part VI line 6

“The organization consists of members. To be a member, one must have a share/savings account. Each member has one vote to elect the governing body (board of directors).”

Member election for additional members Part VI line 7A

“The board of directors is elected by the membership utilizing their one vote per member.”

Governing body decisions Part VI line 7B

“Each member has one vote to utilize in ratifying significant decisions beyond the authority of the board as outlined in the organizations bylaws. Any decision to dissolve or merge the organization requires approval of membership, unless mandated by regulatory agency.”

Form 990 governing body review Part VI line 11

“No review was conducted or will be conducted.”

Conflict of interest policy compliance Part VI line 12C

“Through webinars and ii releases.”

Governing documents etc available to public Part VI line 19

“UPON REQUEST.”

Filing and Contact Details

Filer

Filer Name
Water-light Credit Union
EIN
39-0978885
Address
1225 TOWER AVENUE, SUPERIOR, WI 54880

Signing Officer

Name
Lyn Larson
Title
President
Phone
7153924524
Signed
2017-02-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lyn Larson
Formed
1935
Legal Domicile
Wi
Voting Board Members
7
Independent Board Members
0
Employees
0

Preparer

Firm
Scott Wallin CPA Sc
Address
PO BOX 836, SUPERIOR, WI 54880
Preparer
Scott Wallin
Phone
2183104362
Supplemental Narrative

Additional Explanations

List of other fees for services expenses Part IX line 11G

“Expenses are an allocation of a service center that runs the credit union.”

Raw XML Appendix335 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/OtherExpensesGrp/Desc2ANNUAL DUES
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IRS990ScheduleN/DispositionOfAssetsDetail/IRCSectionTxt0CREDIT UNION
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IRS990ScheduleN/DispositionOfAssetsDetail/PersonNm0INDIANHEAD CREDIT UNION
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION CONSISTS OF MEMBERS. TO BE A MEMBER, ONE MUST HAVE A SHARE/SAVINGS ACCOUNT. EACH MEMBER HAS ONE VOTE TO ELECT THE GOVERNING BODY (BOARD OF DIRECTORS).
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD OF DIRECTORS IS ELECTED BY THE MEMBERSHIP UTILIZING THEIR ONE VOTE PER MEMBER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2EACH MEMBER HAS ONE VOTE TO UTILIZE IN RATIFYING SIGNIFICANT DECISIONS BEYOND THE AUTHORITY OF THE BOARD AS OUTLINED IN THE ORGANIZATIONS BYLAWS. ANY DECISION TO DISSOLVE OR MERGE THE ORGANIZATION REQUIRES APPROVAL OF MEMBERSHIP, UNLESS MANDATED BY REGULATORY AGENCY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO REVIEW WAS CONDUCTED OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THROUGH WEBINARS AND II RELEASES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6EXPENSES ARE AN ALLOCATION OF A SERVICE CENTER THAT RUNS THE CREDIT UNION.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Members or stockholder classes and rights Part VI line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Member election for additional members Part VI line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Governing body decisions Part VI line 7b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6List of other fees for services expenses Part IX line 11g
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ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0216.251.160.18
ReturnHeader/FilingSecurityInformation/IPDt02017-02-28
ReturnHeader/FilingSecurityInformation/IPTm019:16:03
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0273559905
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 836
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ReturnHeader/ReturnTs02017-02-28T19:15:16-05:00
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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
$0
Liabilities
$0
Net assets
$0
Revenue
$43,239
Expenses
$234,833
Net income
-$191,594
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2016Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.04$0.23$0.19
2015Detailed filing. Detailed filing data is available for this year.$1.40$1.21$0.19$0.04$0.04$0.00
2014Detailed filing. Detailed filing data is available for this year.$1.30$1.11$0.19$0.04$0.05$0.00
2013Detailed filing. Detailed filing data is available for this year.$1.32$1.13$0.19$0.04$0.04$0.00
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.31$1.11$0.20$0.05
2011Summary only. Only limited summary data is available for this year.$1.32$1.12$0.20$0.05$0.05$0.00
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.25$1.05$0.20$0.05