Civic Intelligence

Members First Credit Union

990 • Fiscal year 2015 • EIN 39-1019822

Jan 01, 2015 to Dec 31, 2015 • Filed on Apr 12, 2016

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

61st percentile

0.88x

Higher debt load relative to assets than 61% of similar nonprofits.

2015 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2015

Liabilities / Revenue

21st percentile

13.69x

Higher debt load relative to revenue than 21% of similar nonprofits.

2015 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2015

Net Margin

83rd percentile

15%

Higher net margin than 83% of similar nonprofits.

2015 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2015

Top Officer Pay

91st percentile

$114,417

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 8.5% of source-year revenue.

2015 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2015

Asset Growth

73rd percentile

6.6%

Faster asset growth than 73% of similar nonprofits.

2015 filings • 501(c)14 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Revenue Growth

52nd percentile

0.6%

Faster revenue growth than 52% of similar nonprofits.

2015 filings • 501(c)14 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Assets

Up

$21,010,715

Up $1,303,573 (+6.6%) from 2014

Net Assets

Up

$2,498,034

Up $206,529 (+9.0%) from 2014

Liabilities

Up

$18,512,681

Up $1,097,044 (+6.3%) from 2014

Revenue

Up

$1,352,321

Up $8,228 (+0.6%) from 2014

Expenses

Up

$1,145,792

Up $66,431 (+6.2%) from 2014

Net Income

Down

$206,529

Down $58,203 (-22%) from 2014

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

2015

Assets$21,010,715
Liabilities$18,512,681
Net Assets$2,498,034

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

2015

Revenue$1,352,321
Expenses$1,145,792
Net Income$206,529
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Apr 12, 2016
Return Version
2015v2.1
Gross Receipts
$1,352,321
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$16,926,173$17,687,321▲ $761,148
Rtn Earn Endowment Incm Other Fnds$2,291,505$2,498,034▲ $206,529
Savings and Temporary Cash Investments$783,730$1,254,133▲ $470,403
Land, Buildings, and Equipment, Net$1,054,025$1,048,590▼ $5,435
Cash and Non-Interest-Bearing Accounts$339,374$347,620▲ $8,246
Receivables From Officers Etc$144,000$216,000▲ $72,000
Investments Program Related$139,007$151,366▲ $12,359
Prepaid Expenses and Deferred Charges$83,061$79,996▼ $3,065
Accounts Receivable$13,592$21,018▲ $7,426
Total Assets$19,707,142$21,010,715▲ $1,303,573
Other Assets Total$224,180$204,671▼ $19,509
Liabilities
Other Liabilities$17,216,518$18,285,704▲ $1,069,186
Accounts Payable and Accrued Expenses$199,119$226,977▲ $27,858
Total Liabilities$17,415,637$18,512,681▲ $1,097,044
Net Assets / Fund Balance
Total Net Assets Fund Balance$2,291,505$2,498,034▲ $206,529
Total Liabilities and Net Assets / Fund Balance$19,707,142$21,010,715▲ $1,303,573

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$562,863$84,374$647,237
Land$420,000-$420,000
Equipment$65,727$314,905$380,632
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Nicholas KessenichPresidentFT$106,073$8,344$114,417

Board Members and Trustees

NameTitle
Ron KlugeChairman
Dennis NiebuhrVice Chair
Dennis BaribeauDirector
Gerald RingDirector
Sue PowersDirector
Jeff TerrySecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,344,099
Investment Income
$2,638
Other Revenue
$5,584
Change in Net Assets
$206,529
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$655,704
Salaries, Compensation, and Employee Benefits$490,088
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$311,760
Office Expenses---$258,473
Current Officers, Directors, Trustees, and Key Employees---$106,073
Fees for Services Other---$79,431
Depreciation Depletion---$55,536
Occupancy---$53,012
Information Technology---$49,560
Payroll Taxes---$30,328
Other Employee Benefits---$27,574
Other Expenses---$22,000
Advertising---$21,277
Insurance---$16,059
Pension Plan Contributions---$14,353
Travel---$5,070
Fees for Services Legal---$1,324
Total Functional Expenses$0$0$0$1,145,792
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$144,000$216,000▲ $72,000
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Member Shares and Deposits$18,285,704
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, one 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 preparer who completes the return. Management reviews the return for accuracy and then authorizes preparer 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 board minutes.

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

The board of directors determines the president's salary. They compare it to peer and other salary data. Approval is documented and retained by the board chairman.

Form 990, Page 6, Part VI, Line 19

Governing documents, policies, and financial statements are made available 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
2016-04-12

Organization Details

Principal Officer
Nicholas Kessenich
Formed
1955
Legal Domicile
Wi
Voting Board Members
7
Independent Board Members
6
Employees
15
Volunteers
7

Preparer

Preparer
Peter Rasmussen
Raw XML Appendix358 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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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt172000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt272000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd0true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd1true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd2true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd1false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd2false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd1X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd2X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0SPLIT DOLLAR LIFE INSUR EXEC BENEFT
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt1SPLIT DOLLAR LIFE INSUR EXEC BENEFT
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt2SPLIT DOLLAR LIFE INSUR EXEC BENEFT
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt072000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt172000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt272000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0NICHOLAS KESSENICH
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm1NICHOLAS KESSENICH
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm2NICHOLAS KESSENICH
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0PRESIDENT
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt1PRESIDENT
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt2PRESIENT
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd0true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd1true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd2true
IRS990ScheduleL/TotalBalanceDueAmt0216000
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS MEMBERS. TO BE A MEMBER, ONE 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 DATA TO INDEPENDENT PREPARER WHO COMPLETES THE RETURN. MANAGEMENT REVIEWS THE RETURN FOR ACCURACY AND THEN AUTHORIZES PREPARER TO E-FILE THE APPROVED RETURN. MANAGEMENT REVIEWS THE RETURN WITH THE BOARD AT THE NEXT BOARD MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4IF 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 BOARD MINUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE BOARD OF DIRECTORS DETERMINES THE PRESIDENT'S SALARY. THEY COMPARE IT TO PEER AND OTHER SALARY DATA. APPROVAL IS DOCUMENTED AND RETAINED BY THE BOARD CHAIRMAN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6GOVERNING DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUEST.
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 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt019707142
IRS990/TotalAssetsEOYAmt021010715
IRS990/TotalAssetsGrp/BOYAmt019707142
IRS990/TotalAssetsGrp/EOYAmt021010715
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt015
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt01145792
IRS990/TotalGrossUBIAmt02251
IRS990/TotalLiabilitiesBOYAmt017415637
IRS990/TotalLiabilitiesEOYAmt018512681
IRS990/TotalLiabilitiesGrp/BOYAmt017415637
IRS990/TotalLiabilitiesGrp/EOYAmt018512681
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02291505
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02498034
IRS990/TotalOtherCompensationAmt08344
IRS990/TotalProgramServiceRevenueAmt01344099
IRS990/TotalReportableCompFromOrgAmt0106073
IRS990/TotalRevenueGrp/ExclusionAmt08222
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01341848
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01352321
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt02251
IRS990/TotalVolunteersCnt07
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt019707142
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt021010715
IRS990/TravelGrp/TotalAmt05070
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/BuildTS02016-09-27 15:27:22Z
ReturnHeader/BusinessOfficerGrp/PersonNm0NICHOLAS KESSENICH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum06082715301
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-04-12
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/PreparationDt02016-04-28
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0PETER RASMUSSEN
ReturnHeader/ReturnTs02016-04-28T14:17:49-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-01-01
ReturnHeader/TaxPeriodEndDt02015-12-31
ReturnHeader/TaxYr02015

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

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
2015Detailed filing. Detailed filing data is available for this year.$21.0$18.5$2.50$1.35$1.15$0.21
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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
Peer Organizations

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