Civic Intelligence

Members First Credit Union

990 • Fiscal year 2014 • EIN 39-1019822

Jan 01, 2014 to Dec 31, 2014 • Filed on May 14, 2015

3401 W Beltline HwyMadison, WI 53713

(608) 271-5301

Siviq Scores

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

Liabilities / Assets

64th percentile

0.88x

Higher debt load relative to assets than 64% of similar nonprofits.

2014 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2014

Liabilities / Revenue

19th percentile

12.96x

Higher debt load relative to revenue than 19% of similar nonprofits.

2014 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2014

Net Margin

88th percentile

20%

Higher net margin than 88% of similar nonprofits.

2014 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2014

Top Officer Pay

90th percentile

$110,088

Higher top officer pay than 90% of similar nonprofits.

Top officer pay equals 8.2% of source-year revenue.

2014 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2014

Asset Growth

68th percentile

3.6%

Faster asset growth than 68% of similar nonprofits.

2014 filings • 501(c)14 • $10M-$25M nonprofits • Annualized from 2013 to 2014

Revenue Growth

43rd percentile

-1.6%

Faster revenue growth than 43% of similar nonprofits.

2014 filings • 501(c)14 • $10M-$25M nonprofits • Annualized from 2013 to 2014

Assets

Up

$19,707,142

Up $681,844 (+3.6%) from 2013

Net Assets

Up

$2,291,505

Up $264,732 (+13%) from 2013

Liabilities

Up

$17,415,637

Up $417,112 (+2.5%) from 2013

Revenue

Down

$1,344,093

Down $21,423 (-1.6%) from 2013

Expenses

Down

$1,079,361

Down $131,217 (-11%) from 2013

Net Income

Up

$264,732

Up $109,794 (+71%) from 2013

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0Assets 2010: $17,174,593Liabilities 2010: $15,366,877Net Assets 2010: $1,807,7162010Assets 2011: $17,730,449Liabilities 2011: $15,897,857Net Assets 2011: $1,832,5922011Assets 2012: $18,174,286Liabilities 2012: $16,302,450Net Assets 2012: $1,871,8362012Assets 2013: $19,025,298Liabilities 2013: $16,998,525Net Assets 2013: $2,026,7732013Assets 2014: $19,707,142Liabilities 2014: $17,415,637Net Assets 2014: $2,291,5052014Assets 2015: $21,010,715Liabilities 2015: $18,512,681Net Assets 2015: $2,498,0342015Assets 2016: $21,972,924Liabilities 2016: $19,253,090Net Assets 2016: $2,719,8342016Assets 2017: $22,237,845Liabilities 2017: $19,290,322Net Assets 2017: $2,947,5232017Assets 2018: $25,484,859Liabilities 2018: $22,335,896Net Assets 2018: $3,148,9632018Assets 2019: $25,030,868Liabilities 2019: $21,713,842Net Assets 2019: $3,317,0262019Assets 2020: $27,801,841Liabilities 2020: $24,312,728Net Assets 2020: $3,489,1132020Assets 2021: $28,308,291Liabilities 2021: $24,528,931Net Assets 2021: $3,779,3602021Assets 2022: $28,005,851Liabilities 2022: $24,099,039Net Assets 2022: $3,906,8122022Assets 2023: $0Liabilities 2023: $0Net Assets 2023: $02023

Highlighted filing

2014

Assets$19,707,142
Liabilities$17,415,637
Net Assets$2,291,505

Operations Trend

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

$2.0M$1.5M$1.0M$500K$0Expenses 2010: $1,415,0962010Expenses 2011: $1,413,3222011Expenses 2012: $1,393,7462012Revenue 2013: $1,365,516Expenses 2013: $1,210,578Net Income 2013: $154,9382013Revenue 2014: $1,344,093Expenses 2014: $1,079,361Net Income 2014: $264,7322014Revenue 2015: $1,352,321Expenses 2015: $1,145,792Net Income 2015: $206,5292015Revenue 2016: $1,454,375Expenses 2016: $1,232,574Net Income 2016: $221,8012016Revenue 2017: $1,530,545Expenses 2017: $1,302,856Net Income 2017: $227,6892017Revenue 2018: $1,666,453Expenses 2018: $1,465,013Net Income 2018: $201,4402018Revenue 2019: $1,780,775Expenses 2019: $1,612,712Net Income 2019: $168,0632019Revenue 2020: $1,761,362Expenses 2020: $1,589,275Net Income 2020: $172,0872020Revenue 2021: $1,734,201Expenses 2021: $1,443,954Net Income 2021: $290,2472021Revenue 2022: $1,767,314Expenses 2022: $1,639,849Net Income 2022: $127,4652022Revenue 2023: $1,817,508Expenses 2023: $1,743,920Net Income 2023: $73,5882023

Highlighted filing

2014

Revenue$1,344,093
Expenses$1,079,361
Net Income$264,732
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
May 14, 2015
Return Version
2014v5.0
Gross Receipts
$1,344,093
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$16,905,564$16,926,173▲ $20,609
Rtn Earn Endowment Incm Other Fnds$2,026,773$2,291,505▲ $264,732
Land, Buildings, and Equipment, Net$1,083,702$1,054,025▼ $29,677
Savings and Temporary Cash Investments$327,438$783,730▲ $456,292
Cash and Non-Interest-Bearing Accounts$237,831$339,374▲ $101,543
Receivables From Officers Etc$72,000$144,000▲ $72,000
Investments Program Related$139,007$139,007→ $0
Prepaid Expenses and Deferred Charges$57,761$83,061▲ $25,300
Accounts Receivable$6,026$13,592▲ $7,566
Total Assets$19,025,298$19,707,142▲ $681,844
Other Assets Total$195,969$224,180▲ $28,211
Liabilities
Other Liabilities$16,951,721$17,216,518▲ $264,797
Accounts Payable and Accrued Expenses$46,804$199,119▲ $152,315
Total Liabilities$16,998,525$17,415,637▲ $417,112
Net Assets / Fund Balance
Total Net Assets Fund Balance$2,026,773$2,291,505▲ $264,732
Total Liabilities and Net Assets / Fund Balance$19,025,298$19,707,142▲ $681,844

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$582,303$62,984$645,287
Land$420,000-$420,000
Equipment$51,722$280,751$332,473
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Nicholas KessenichPresidentFT$102,200$7,888$110,088

Board Members and Trustees

NameTitle
Ron KlugeChairman
Dennis NiebuhrVice Chair
Amanda KnobelDirector
Dennis BaribeauDirector
Gerald RingDirector
Jeff TerrySecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,339,420
Investment Income
$1,543
Other Revenue
$3,130
Change in Net Assets
$264,732
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$634,564
Salaries, Compensation, and Employee Benefits$444,797
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Office Expenses---$293,171
Other Salaries and Wages---$271,287
Current Officers, Directors, Trustees, and Key Employees---$102,200
Fees for Services Other---$70,390
Depreciation Depletion---$52,091
Occupancy---$47,426
Other Employee Benefits---$31,113
Payroll Taxes---$28,277
Other Expenses---$27,589
Advertising---$26,675
Insurance---$24,985
Pension Plan Contributions---$11,920
Travel---$4,436
Fees for Services Legal---$682
Interest---$17
Total Functional Expenses$0$0$0$1,079,361
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$72,000$144,000▲ $72,000
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Member Shares and Deposits$17,216,518
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
No
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 data to independent cpa who prepares the return. Management reviews the return for accuracy and then authorizes cpa to e-file the approved return. Management reviews the return with the board at the next board meeting.

Form 990, Page 6, Part VI, Line 12C

If we were to do any buisness with a company associated with employees or board members, it would be discussed with the board and included in the minutes.

Form 990, Page 6, Part VI, Line 15A

The board of directors determines the president's salary. They compare it to the wi league and cuna salary data. Approval is documented and retained by the board chair.

Form 990, Page 6, Part VI, Line 19

Governing documents, policies, and financial statements are made available to members upon request.

Filing and Contact Details

Filer

Filer Name
Members First Credit Union
EIN
39-1019822
Phone
6082715301
Address
3401 W BELTLINE HWY, MADISON, WI 53713

Signing Officer

Name
Nicholas Kessenich
Title
President
Phone
6082715301
Signed
2015-05-14

Organization Details

Principal Officer
Nicholas Kessenich
Formed
1955
Legal Domicile
Wi
Voting Board Members
7
Independent Board Members
6
Employees
14
Volunteers
7

Preparer

Preparer
Brent Wookey CPA
Supplemental Narrative

Additional Explanations

Form 990, Page 5, Part V, Line 3B

The organization will file the 990-t by its extended due date of november 15th.

Raw XML Appendix352 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/TotalBookValueLandBuildingsAmt01054025
IRS990ScheduleD/TotalLiabilityAmt017216518
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt072000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt172000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd0true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd1true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd1false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd1X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0EXECUTIVE BENEFIT
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt1EXECUTIVE BENEFIT
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt072000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt172000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0NICHOLAS KESSENICH
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm1NICHOLAS KESSENICH
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0PRESIDENT
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt1PRESIDENT
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd0true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd1true
IRS990ScheduleL/TotalBalanceDueAmt0144000
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION WILL FILE THE 990-T BY ITS EXTENDED DUE DATE OF NOVEMBER 15TH.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION HAS MEMBERS. TO BE A MEMBER, YOU MUST HAVE A SHARE (SAVINGS) ACCOUNT AT THE CREDIT UNION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD OF DIRECTORS IS ELECTED BY THE CREDIT UNION MEMBERS. EACH MEMBER HAS ONE VOTE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3A 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/ExplanationTxt4MANAGEMENT PROVIDES DATA TO INDEPENDENT CPA WHO PREPARES THE RETURN. MANAGEMENT REVIEWS THE RETURN FOR ACCURACY AND THEN AUTHORIZES CPA TO E-FILE THE APPROVED RETURN. MANAGEMENT REVIEWS THE RETURN WITH THE BOARD AT THE NEXT BOARD MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5IF WE WERE TO DO ANY BUISNESS WITH A COMPANY ASSOCIATED WITH EMPLOYEES OR BOARD MEMBERS, IT WOULD BE DISCUSSED WITH THE BOARD AND INCLUDED IN THE MINUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE BOARD OF DIRECTORS DETERMINES THE PRESIDENT'S SALARY. THEY COMPARE IT TO THE WI LEAGUE AND CUNA SALARY DATA. APPROVAL IS DOCUMENTED AND RETAINED BY THE BOARD CHAIR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7GOVERNING DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO MEMBERS UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 5, PART V, LINE 3B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 15A
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/TotalAssetsBOYAmt019025298
IRS990/TotalAssetsEOYAmt019707142
IRS990/TotalAssetsGrp/BOYAmt019025298
IRS990/TotalAssetsGrp/EOYAmt019707142
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt014
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt01079361
IRS990/TotalGrossUBIAmt02865
IRS990/TotalLiabilitiesBOYAmt016998525
IRS990/TotalLiabilitiesEOYAmt017415637
IRS990/TotalLiabilitiesGrp/BOYAmt016998525
IRS990/TotalLiabilitiesGrp/EOYAmt017415637
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02026773
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02291505
IRS990/TotalOtherCompensationAmt07888
IRS990/TotalProgramServiceRevenueAmt01339420
IRS990/TotalReportableCompFromOrgAmt0102200
IRS990/TotalRevenueGrp/ExclusionAmt04673
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01336555
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01344093
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt02865
IRS990/TotalVolunteersCnt07
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt019025298
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt019707142
IRS990/TravelGrp/TotalAmt04436
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0true
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt03401 W BELTLINE HWY
IRS990/USAddress/CityNm0MADISON
IRS990/USAddress/StateAbbreviationCd0WI
IRS990/USAddress/ZIPCd053713
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0MBR1CU.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-02-25 16:41:14Z
ReturnHeader/BusinessOfficerGrp/PersonNm0NICHOLAS KESSENICH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum06082715301
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-05-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MEMBERS FIRST CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0MEMB
ReturnHeader/Filer/EIN0391019822
ReturnHeader/Filer/PhoneNum06082715301
ReturnHeader/Filer/USAddress/AddressLine1Txt03401 W BELTLINE HWY
ReturnHeader/Filer/USAddress/CityNm0MADISON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0WI
ReturnHeader/Filer/USAddress/ZIPCd053713
ReturnHeader/PreparerPersonGrp/PreparationDt02015-05-29
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BRENT WOOKEY CPA
ReturnHeader/ReturnTs02015-05-29T13:13:18-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-01-01
ReturnHeader/TaxPeriodEndDt02014-12-31
ReturnHeader/TaxYr02014

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.00$0.00$0.00$1.82$1.74$0.07
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$28.0$24.1$3.91$1.77$1.64$0.13
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$28.3$24.5$3.78$1.73$1.44$0.29
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$27.8$24.3$3.49$1.76$1.59$0.17
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$25.0$21.7$3.32$1.78$1.61$0.17
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$25.5$22.3$3.15$1.67$1.47$0.20
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$22.2$19.3$2.95$1.53$1.30$0.23
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$22.0$19.3$2.72$1.45$1.23$0.22
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$21.0$18.5$2.50$1.35$1.15$0.21
2014Detailed filing. Detailed filing data is available for this year.$19.7$17.4$2.29$1.34$1.08$0.26
2013Detailed filing. Detailed filing data is available for this year.$19.0$17.0$2.03$1.37$1.21$0.15
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$18.2$16.3$1.87$1.39
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$17.7$15.9$1.83$1.41
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$17.2$15.4$1.81$1.42