Civic Intelligence

Utilities Credit Union

990 • Fiscal year 2021 • EIN 39-1017036

Jan 01, 2021 to Sep 30, 2021 • Filed on May 26, 2022

C/O Royal Credit Union PO Box 970Eau Claire, WI 54702

(715) 855-8822

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 2021

Liabilities / Revenue

57th percentile

0.00x

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

2021 filings • <$500k nonprofits • Source year 2021

Net Margin

4th percentile

-454%

Higher net margin than 4% of similar nonprofits.

2021 filings • <$500k nonprofits • Source year 2021

Top Officer Pay

93rd percentile

$48,549

Higher top officer pay than 93% of similar nonprofits.

Top officer pay equals 48.5% of source-year revenue.

2021 filings • <$500k nonprofits • Source year 2021

Asset Growth

2nd percentile

-100%

Faster asset growth than 2% of similar nonprofits.

2021 filings • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

17th percentile

-48%

Faster revenue growth than 17% of similar nonprofits.

2021 filings • <$500k nonprofits • Annualized from 2020 to 2021

Assets

$0

No earlier filing loaded for comparison.

Net Assets

$0

No earlier filing loaded for comparison.

Liabilities

$0

No earlier filing loaded for comparison.

Revenue

$100,000

No earlier filing loaded for comparison.

Expenses

$553,653

No earlier filing loaded for comparison.

Net Income

-$453,653

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$10M$5.0M$0Assets 2011: $9,336,491Liabilities 2011: $8,499,476Net Assets 2011: $837,0152011Assets 2012: $9,071,371Liabilities 2012: $8,191,682Net Assets 2012: $879,6892012Assets 2014: $8,463,043Liabilities 2014: $7,566,643Net Assets 2014: $896,4002014Assets 2015: $8,138,772Liabilities 2015: $7,239,112Net Assets 2015: $899,6602015Assets 2016: $7,769,269Liabilities 2016: $6,866,270Net Assets 2016: $902,9992016Assets 2017: $7,240,142Liabilities 2017: $6,333,010Net Assets 2017: $907,1322017Assets 2018: $6,594,770Liabilities 2018: $5,680,602Net Assets 2018: $914,1682018Assets 2019: $6,898,442Liabilities 2019: $5,969,586Net Assets 2019: $928,8562019Assets 2021: $0Liabilities 2021: $0Net Assets 2021: $02021

Highlighted filing

2021

Assets$0
Liabilities$0
Net Assets$0

Operations Trend

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

$1.0M$500K$0-$500KExpenses 2011: $221,8362011Revenue 2012: $235,981Expenses 2012: $193,307Net Income 2012: $42,6742012Revenue 2014: $202,306Expenses 2014: $197,358Net Income 2014: $4,9482014Revenue 2015: $191,925Expenses 2015: $188,665Net Income 2015: $3,2602015Revenue 2016: $196,125Expenses 2016: $192,786Net Income 2016: $3,3392016Revenue 2017: $201,762Expenses 2017: $197,629Net Income 2017: $4,1332017Revenue 2018: $226,713Expenses 2018: $219,677Net Income 2018: $7,0362018Revenue 2019: $239,978Expenses 2019: $225,287Net Income 2019: $14,6912019Revenue 2021: $100,000Expenses 2021: $553,653Net Income 2021: -$453,6532021

Highlighted filing

2021

Revenue$100,000
Expenses$553,653
Net Income-$453,653
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Sep 30, 2021
Signed
May 26, 2022
Return Version
2021v4.0
Gross Receipts
$100,000
Mission and Program Overview

Mission

Provide competitive share dividends and competitive loan rates to members through secured loans, unsecured loans, home equity lines of credit loans and credit card program.

Provide competitive dividends on share savings accounts and competitive loan rates to members through secured and unsecured loans and home equity lines of credit.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$3,043,242$0▼ $3,043,242
Investments Program Related$2,750,483$0▼ $2,750,483
Rtn Earn Endowment Incm Other Fnds$930,619$0▼ $930,619
Savings and Temporary Cash Investments$832,382$0▼ $832,382
Receivables From Officers Etc$115,128$0▼ $115,128
Cash and Non-Interest-Bearing Accounts$86,858$0▼ $86,858
Prepaid Expenses and Deferred Charges$7,938$0▼ $7,938
Land, Buildings, and Equipment, Net$2,027$0▼ $2,027
Accounts Receivable$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Investments Other Securities$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$6,911,746$0▼ $6,911,746
Other Assets Total$73,688$0▼ $73,688
Liabilities
Other Liabilities$5,978,190$0▼ $5,978,190
Accounts Payable and Accrued Expenses$2,937$0▼ $2,937
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$5,981,127$0▼ $5,981,127
Net Assets / Fund Balance
Total Net Assets Fund Balance$930,619$0▼ $930,619
Total Liabilities and Net Assets / Fund Balance$6,911,746$0▼ $6,911,746
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Heidi SchultzPresident - TreasurerFT$48,549$48,549

Board Members and Trustees

NameTitle
John NessChairman
Thomas BachmeierVice Chairman
Jason Doerr IIIDirector
Kallie RobbDirector
Karl HoeslyDirector
Kelsey RydzikDirector
Lori DrillingDirector
Paul SeipelDirector
Scott SeaholmDirector
Rebecca McIlhargeySecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$82,731
Investment Income
$17,269
Other Revenue
$0
Change in Net Assets
$-453,653
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$479,218
Salaries, Compensation, and Employee Benefits$74,435
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees---$48,549
Other Salaries and Wages---$20,371
Information Technology---$16,562
Office Expenses---$13,385
Payroll Taxes---$5,515
Insurance---$3,815
All Other Expenses---$3,376
Fees for Services Other---$3,100
Occupancy---$550
Depreciation Depletion---$512
Advertising---$293
Fees for Services Accounting---$30
Other Expenses---$-27,449
Total Functional Expenses$0$0$0$553,653
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$115,128$0▼ $115,128
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
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
No
Conflict-of-interest policy
No
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 consists of eligible members within the field of membership as stated in Utilities Credit Union By-laws.

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

Board of Directors are voted upon by the general membership at the annual meeting of the credit union.

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

In accordance with Utilities Credit Union By-laws, the decision to merge Utilities Credit Union into Royal Credit Union was voted on and approved by Utilities Credit Union's membership at a Special Meeting of the Membership held on September 9, 2021.

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

Form 990 was completed by Utilities Credit Union President-Treasurer and was reviewed by Royal Credit Union finance representatives and by Royal Credit Union's audit firm.

Form 990, Part VI, Section B, Line 15

Personnel committee establishes salary range based on salary survey for presidents and recommends yearly salary to Board of Directors for their voting approval. Salary recommendation is determined based on annual performance review.

Form 990, Part VI, Section C, Line 19

Documents are provided upon request. Financials are provided to members attending annual meeting.

Filing and Contact Details

Filer

Filer Name
Utilities Credit Union
EIN
39-1017036
Phone
7158558822
Address
C/O Royal Credit Union PO Box 970, Eau Claire, WI 54702

Signing Officer

Name
Heidi K Schultz
Title
President, Treasurer
Phone
7158558822
Signed
2022-05-26

Organization Details

Principal Officer
Heidi K Schultz
Formed
1932
Legal Domicile
Wi
Voting Board Members
11
Independent Board Members
10
Employees
3
Volunteers
20
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 3

Utilities Credit Union ceased operations after the close of business on 09/30/2021 and merged all assets and accounts into Royal Credit Union, based in Eau Claire, WI.

Form 990, Part XI, Line 9

Utilities Credit Union merged all of it's assets into Royal Credit Union .

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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/Form990PartVIISectionAGrp/TitleTxt0President - Treasurer
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IRS990/Form990PartVIISectionAGrp/TitleTxt3Vice Chairman
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IRS990/OtherExpensesGrp/Desc3Provision for loan loss expense
IRS990/OtherExpensesGrp/TotalAmt0458373
IRS990/OtherExpensesGrp/TotalAmt12716
IRS990/OtherExpensesGrp/TotalAmt23955
IRS990/OtherExpensesGrp/TotalAmt3-27449
IRS990/OtherLiabilitiesGrp/BOYAmt05978190
IRS990/OtherLiabilitiesGrp/EOYAmt00
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/TotalAmt020371
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt03043242
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd00
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayrollTaxesGrp/TotalAmt05515
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt07938
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0Heidi K Schultz
IRS990/PriorPeriodAdjustmentsAmt00
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0522100
IRS990/ProgramServiceRevenueGrp/BusinessCd1522100
IRS990/ProgramServiceRevenueGrp/BusinessCd2524298
IRS990/ProgramServiceRevenueGrp/Desc0Interest on loans
IRS990/ProgramServiceRevenueGrp/Desc1Fee income
IRS990/ProgramServiceRevenueGrp/Desc2Loan insurance
IRS990/ProgramServiceRevenueGrp/ExclusionAmt00
IRS990/ProgramServiceRevenueGrp/ExclusionAmt10
IRS990/ProgramServiceRevenueGrp/ExclusionAmt20
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt081771
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1775
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt20
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt081771
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1775
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2185
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt10
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt2185
IRS990/ProgSrvcAccomActy2Grp/Desc0Provide home equity lines of credit loans to members. During 2021, 30 advances on lines of credit. 47 loans with a balance of $975,508 as of September 30, 2021.
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt025951
IRS990/ProgSrvcAccomActy3Grp/Desc0Provide unsecured loans to members. Approved 113 advances to members with unsecured lines of credit in 2021. 146 loans with a balance of $181,255 as of September 30, 2021.
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt010837
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt054633
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt083437
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt0136926
IRS990/PYRevenuesLessExpensesAmt01762
IRS990/PYSalariesCompEmpBnftPaidAmt0106360
IRS990/PYTotalExpensesAmt0189797
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0191559
IRS990/RcvblFromDisqualifiedPrsnGrp/BOYAmt00
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt0115128
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-453653
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt044569
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/ExclusionAmt00
IRS990/RoyaltiesRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RoyaltiesRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0930619
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0832382
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990/ScheduleBRequiredInd00
IRS990/ScheduleJRequiredInd00
IRS990ScheduleN/AssetsDistributedInd01
IRS990ScheduleN/AttorneyGeneralNotifiedInd01
IRS990ScheduleN/BondsOutstandingInd00
IRS990ScheduleN/DirectorOfSuccessorInd00
IRS990ScheduleN/EmployeeOfSuccessorInd01
IRS990ScheduleN/LiabilitiesPaidInd01
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc0Loans less allowance for loan losses.
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc1Accounts Receivable
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc2Cash on deposit at other financial institutions less outstanding drafts.
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc3Investments:Certificates of Deposit plus accrued interest income and other non-liquid accounts at other financial institutions.
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc4National Credit Union Administration (NCUA) capitalization deposit.
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc5Furniture & Fixtures (computer equipment) less reserves for depreciation.
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt0Royal Credit Union
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt1Royal Credit Union
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt2Royal Credit Union
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt3Royal Credit Union
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt4Royal Credit Union
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt5Royal Credit Union
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt02021-09-30
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt12021-09-30
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt22021-09-30
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt32021-09-30
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt42021-09-30
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt52021-09-30
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN0396072970
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN1396072970
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN2396072970
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN3396072970
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN4396072970
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN5396072970
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt02691334
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt162500
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt21843541
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt31714686
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt459782
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt51516
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt0501(c)(14)
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt1501(c)(14)
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt2501(c)(14)
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt3501(c)(14)
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt4501(c)(14)
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt5501(c)(14)
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt0Utilities Credit Union Financial Statements as of 09/30/2021.
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt1Utilities Credit Union Financial Statements as of 09/30/2021.
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt2Utilities Credit Union Financial Statements as of 09/30/2021.
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt3Utilities Credit Union Financial Statements as of 09/30/2021.
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt4Utilities Credit Union Financial Statements as of 09/30/2021.

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