Civic Intelligence

First Credit Union

990 • Fiscal year 2015 • EIN 39-1020122

Jan 01, 2015 to Dec 31, 2015 • Filed on Jul 25, 2016

Organization Profilewww.firstcu-wi.com

View Organization Page

2121 E Rawson AvenueOak Creek, WI 53154

(262) 842-1033

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 2015

Liabilities / Revenue

58th percentile

0.00x

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

2015 filings • <$500k nonprofits • Source year 2015

Net Margin

12th percentile

-43%

Higher net margin than 12% of similar nonprofits.

2015 filings • <$500k nonprofits • Source year 2015

Top Officer Pay

97th percentile

$74,579

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 15.8% of source-year revenue.

2015 filings • <$500k nonprofits • Source year 2015

Asset Growth

2nd percentile

-100%

Faster asset growth than 2% of similar nonprofits.

2015 filings • <$500k nonprofits • Annualized from 2014 to 2015

Revenue Growth

30th percentile

-14%

Faster revenue growth than 30% of similar nonprofits.

2015 filings • <$500k nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / AssetsScore unavailable

Assets

Down

$0

Down $14,145,403 (-100%) from 2014

Net Assets

Down

$0

Down $1,425,362 (-100%) from 2014

Liabilities

Down

$0

Down $12,720,041 (-100%) from 2014

Revenue And Expenses
Liabilities / Revenue58th percentileNet Margin12th percentile

Revenue

Down

$472,537

Down $73,787 (-14%) from 2014

Expenses

Up

$674,790

Up $140,315 (+26%) from 2014

Net Income

Down

-$202,253

Down $214,102 (-1807%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth2nd percentile

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

$15M$10M$5.0M$0Assets 2010: $11,698,548Liabilities 2010: $10,281,451Net Assets 2010: $1,417,0972010Assets 2011: $12,455,241Liabilities 2011: $11,015,364Net Assets 2011: $1,439,8772011Assets 2012: $12,999,997Liabilities 2012: $11,559,525Net Assets 2012: $1,440,4722012Assets 2013: $13,752,414Liabilities 2013: $12,338,901Net Assets 2013: $1,413,5132013Assets 2014: $14,145,403Liabilities 2014: $12,720,041Net Assets 2014: $1,425,3622014Assets 2015: $0Liabilities 2015: $0Net Assets 2015: $02015

Highlighted filing

2015

Assets$0
Liabilities$0
Net Assets$0
Open 2015 Filing

Operations Trend

Revenue Growth30th percentile

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

$1.0M$500K$0-$500KExpenses 2010: $568,2842010Expenses 2011: $529,0332011Expenses 2012: $522,7922012Revenue 2013: $535,786Expenses 2013: $562,745Net Income 2013: -$26,9592013Revenue 2014: $546,324Expenses 2014: $534,475Net Income 2014: $11,8492014Revenue 2015: $472,537Expenses 2015: $674,790Net Income 2015: -$202,2532015

Highlighted filing

2015

Revenue$472,537
Expenses$674,790
Net Income-$202,253
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Jul 25, 2016
Return Version
2015v2.1
Gross Receipts
$472,537
Mission and Program Overview

Mission

We are a Non-Profit, Member Owned Credit Union. We are committed to provide accurate and prompt financial services in a friendly people helping people manner, while maintaining financial stability.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$8,496,315--
Savings and Temporary Cash Investments$4,659,057--
Rtn Earn Endowment Incm Other Fnds$1,425,362--
Land, Buildings, and Equipment, Net$391,932--
Cash and Non-Interest-Bearing Accounts$201,253--
Investments Program Related$200,759--
Prepaid Expenses and Deferred Charges$157,303--
Accounts Receivable$733--
Total Assets$14,145,403$0▼ $14,145,403
Other Assets Total$38,051--
Liabilities
Other Liabilities$12,703,204--
Accounts Payable and Accrued Expenses$16,837--
Total Liabilities$12,720,041$0▼ $12,720,041
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,425,362$0▼ $1,425,362
Total Liabilities and Net Assets / Fund Balance$14,145,403$0▼ $14,145,403
Compensation and Service Providers
Top Officer Pay97th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Kandace LessardOperation ManagerFT$67,799$6,780$74,579
Carol PecsiPresidentFT$52,997$3,710$56,707

Board Members and Trustees

NameTitle
Don StoddardChairman
Bruce WranovskyVice-Chair
Stan DruckreyDirector
Steve PfisterDirector
Tim TalaskaDirector
Ed PinkowskiSecretary
Deborah ZioleckiTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$435,830
Investment Income
$35,240
Other Revenue
$1,467
Change in Net Assets
$-202,253
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$421,356
Salaries, Compensation, and Employee Benefits$253,434
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---$120,796
Other Salaries and Wages---$100,667
Other Expenses-$45,281-$45,281
Office Expenses---$45,131
Fees for Services Legal---$40,037
Occupancy---$35,244
Information Technology---$30,780
Payroll Taxes---$15,448
Pension Plan Contributions---$14,099
Payments to Affiliates---$11,656
Depreciation Depletion---$11,510
Insurance---$11,210
All Other Expenses---$11,019
Advertising---$4,803
Travel---$2,574
Other Employee Benefits---$2,424
Conferences and Meetings---$1,400
Fees for Services Accounting---$1,296
Interest---$297
Total Functional Expenses$0$0$0$674,790
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
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
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 (i.e., NCUA, Wisconsin Office of Credit Unions).”

Form 990 governing body review Part VI line 11

“The form will be presented to Sr. Management of Trustone Financial, Surviving Credit Union.”

Conflict of interest policy compliance Part VI line 12C

“Monitoring is ongoing. No enforcement to date.”

Governing documents etc available to public Part VI line 19

“All are available upon request.”

Filing and Contact Details

Filer

Filer Name
First Credit Union
EIN
39-1020122
Address
2121 E Rawson Avenue, Oak Creek, WI 53154

Signing Officer

Name
Matt Krauter
Title
VPRegional Director
Phone
4147624460
Signed
2016-07-25
Discuss with paid preparer
No

Organization Details

Principal Officer
Don Stoddard
Formed
1951
Legal Domicile
Wi
Voting Board Members
7
Independent Board Members
7
Employees
6
Volunteers
7

Preparer

Firm
WCUL Services Corp
Address
N25W2313 Paul Rd Suite 500, Pewaukee, WI 53072
Preparer
Cari Thompson
Phone
2625490200
Supplemental Narrative

Additional Explanations

Unrelated business income explanation Part V line 3B

“The 990T will be filed before the extended due date.”

Cessation of or significant change to any program service Part III line 3

“First Credit Union merged with TruStone Financial Federal Credit Union effective 12/31/15. Members transferring from First Credit Union to TruStone Financial Federal Credit Union have access to all products and services as of January 1, 2016.”

Explanation of other changes in net assets or fund balances Part XI line 9

“Net Asset Balance at the time of merger. All Net Assets were transferred to TruStone Federal Credit Union as part of merger.”

Raw XML Appendix373 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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IRS990ScheduleN/ReceiveCompensation2Ind0false
IRS990ScheduleN/ReceiveCompensationInd0false
IRS990ScheduleN/RequiredToNotifyAGInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The 990T will be filed before the extended due date.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The 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/ExplanationTxt2The Board of Directors is elected by the membership utilizing their one vote per member.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Each 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 (i.e., NCUA, Wisconsin Office of Credit Unions).
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The form will be presented to Sr. Management of Trustone Financial, Surviving Credit Union.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Monitoring is ongoing. No enforcement to date.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6All are available upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7First Credit Union merged with TruStone Financial Federal Credit Union effective 12/31/15. Members transferring from First Credit Union to TruStone Financial Federal Credit Union have access to all products and services as of January 1, 2016.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8Net Asset Balance at the time of merger. All Net Assets were transferred to TruStone Federal Credit Union as part of merger.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Unrelated business income explanation Part V line 3b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Members or stockholder classes and rights Part VI line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Member election for additional members Part VI line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Governing body decisions Part VI line 7b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Cessation of or significant change to any program service Part III line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8Explanation of other changes in net assets or fund balances Part XI line 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0true
IRS990/TotalAssetsBOYAmt014145403
IRS990/TotalAssetsEOYAmt00
IRS990/TotalAssetsGrp/BOYAmt014145403
IRS990/TotalAssetsGrp/EOYAmt00
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt06
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0674790
IRS990/TotalGrossUBIAmt02570
IRS990/TotalLiabilitiesBOYAmt012720041
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt012720041
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01425362
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt00
IRS990/TotalOtherCompensationAmt010490
IRS990/TotalProgramServiceRevenueAmt0435830
IRS990/TotalReportableCompFromOrgAmt0120796
IRS990/TotalRevenueGrp/ExclusionAmt036707
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0433260
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0472537
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt02570
IRS990/TotalVolunteersCnt07
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt014145403
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt00
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/TotalAmt02574
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0true
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0www.firstcu-wi.com
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-12-15 16:53:06Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0false
ReturnHeader/BusinessOfficerGrp/PersonNm0Matt Krauter
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0VPRegional Dir
ReturnHeader/BusinessOfficerGrp/PhoneNum04147624460
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-07-25
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0First Credit Union
ReturnHeader/Filer/BusinessNameControlTxt0FIRS
ReturnHeader/Filer/EIN0391020122
ReturnHeader/Filer/USAddress/AddressLine1Txt02121 E Rawson Avenue
ReturnHeader/Filer/USAddress/CityNm0Oak Creek
ReturnHeader/Filer/USAddress/StateAbbreviationCd0WI
ReturnHeader/Filer/USAddress/ZIPCd053154
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0391127312
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0WCUL Services Corp
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0N25W2313 Paul Rd Suite 500
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Pewaukee
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0WI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd053072
ReturnHeader/PreparerPersonGrp/PhoneNum02625490200
ReturnHeader/PreparerPersonGrp/PreparationDt02016-08-01
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Cari Thompson
ReturnHeader/ReturnTs02016-08-01T10:43:39-05:00
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
$0
Liabilities
$0
Net assets
$0
Revenue
$472,537
Expenses
$674,790
Net income
-$202,253
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2015Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.47$0.67$0.20
2014Detailed filing. Detailed filing data is available for this year.$14.1$12.7$1.43$0.55$0.53$0.01
2013Detailed filing. Detailed filing data is available for this year.$13.8$12.3$1.41$0.54$0.56$0.03
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.0$11.6$1.44$0.52
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.5$11.0$1.44$0.53
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.7$10.3$1.42$0.57