Civic Intelligence

Price Credit Union

EIN 39-1094896 • 501(c)14

Profile

As a member-owned Financial Co-operative, Price CU exists to serve its members, by providing outstanding service, value and trust to the changing financial needs of our membership, we will continue to grow and remain a financially strong and stable organization for our members.

1125 Town Street54556

www.pricecu.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on the latest valid filing.

Source year 2013

Liabilities / Revenue

96th percentile

0.00x

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

501(c)14 • <$500k nonprofits • Source year 2013

Net Margin

32nd percentile

-155%

Higher net margin than 32% of similar nonprofits.

501(c)14 • <$500k nonprofits • Source year 2013

Top Officer Pay

45th percentile

$17,282

Higher top officer pay than 45% of similar nonprofits.

Top officer pay equals 5.9% of source-year revenue.

501(c)14 • <$500k nonprofits • Source year 2013

Asset Growth

95th percentile

-100%

Faster asset growth than 95% of similar nonprofits.

501(c)14 • <$500k nonprofits • Annualized from 2012 to 2013

Revenue Growth

50th percentile

-46%

Faster revenue growth than 50% of similar nonprofits.

501(c)14 • <$500k nonprofits • Annualized from 2011 to 2013

Assets

Down

$0

Down $31,060,904 (-100%) from 2012

Liabilities

Down

$0

Down $28,291,662 (-100%) from 2012

Net Assets

Down

$0

Down $2,769,242 (-100%) from 2012

Revenue

$294,509

No earlier filing loaded for comparison.

Expenses

Down

$749,861

Down $276,443 (-27%) from 2012

Net Income

-$455,352

No earlier filing loaded for comparison.

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$40M$30M$20M$10M$0Assets 2010: $29,005,185Liabilities 2010: $25,849,847Net Assets 2010: $3,155,3382010Assets 2011: $28,853,548Liabilities 2011: $26,001,150Net Assets 2011: $2,852,3982011Assets 2012: $31,060,904Liabilities 2012: $28,291,662Net Assets 2012: $2,769,2422012Assets 2013: $0Liabilities 2013: $0Net Assets 2013: $02013

Highlighted filing

2013

Assets$0
Liabilities$0
Net Assets$0

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.5M$1.0M$500K$0-$500KExpenses 2010: $1,185,8552010Revenue 2011: $1,003,390Expenses 2011: $1,306,330Net Income 2011: -$302,9402011Expenses 2012: $1,026,3042012Revenue 2013: $294,509Expenses 2013: $749,861Net Income 2013: -$455,3522013

Highlighted filing

2013

Revenue$294,509
Expenses$749,861
Net Income-$455,352

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Apr 30, 2013
Signed
Apr 3, 2014
Return Version
2013v3.1
Gross Receipts
$299,509
Mission and Program Overview

Mission

As a member-owned Financial Co-operative, Price CU exists to serve its members, by providing outstanding service, value and trust to the changing financial needs of our membership, we will continue to grow and remain a financially strong and stable organization for our members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$15,637,559--
Other Notes and Loans Receivable, Net$12,555,328--
Rtn Earn Endowment Incm Other Fnds$2,769,242--
Land, Buildings, and Equipment, Net$1,194,464--
Cash and Non-Interest-Bearing Accounts$1,015,858--
Investments Program Related$477,360--
Total Assets$31,060,904$0▼ $31,060,904
Other Assets Total$180,335--
Liabilities
Other Liabilities$28,277,386--
Accounts Payable and Accrued Expenses$14,276--
Total Liabilities$28,291,662$0▼ $28,291,662
Net Assets / Fund Balance
Total Net Assets Fund Balance$2,769,242$0▼ $2,769,242
Total Liabilities and Net Assets / Fund Balance$31,060,904$0▼ $31,060,904
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Leone M DraegerVice PresidentFT$12,864$4,418$17,282
Donna M KochPresidentFT$12,669$172$12,841

Board Members and Trustees

NameTitle
Gordon HellandChairman
Kevin RominskeVice Chairman
Karen WestbergDirector
Kathleen SeversonDirector
Gene HarmelinkSecretary
Mary Jo UlrichTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$241,120
Investment Income
$53,389
Other Revenue
$0
Change in Net Assets
$-455,352
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$604,116
Salaries, Compensation, and Employee Benefits$145,745
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$95,750
Current Officers, Directors, Trustees, and Key Employees---$25,533
Office Expenses---$24,280
Depreciation Depletion---$24,014
Insurance---$17,234
Fees for Services Other---$15,877
Occupancy---$15,534
Other Employee Benefits---$15,272
Information Technology---$15,186
Payroll Taxes---$9,190
Other Expenses-$6,428-$6,428
Payments to Affiliates---$6,082
All Other Expenses---$2,168
Conferences and Meetings---$1,323
Fees for Service Investment Mgmnt Fees---$1,231
Travel---$1,185
Fees for Services Accounting---$1,164
Advertising---$431
Total Functional Expenses$0$0$0$749,861
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 organization's 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

Due to the final Board of Directors meeting because of a merger was held before receipt of the completed Form 990, it was not provided for their review before approval, but was offered for their review after the fact.

Conflict of interest policy compliance Part VI line 12C

At the Reorganization Meeting held shortly after the Annual Meeting, all Directors and Management sign a receipt for a copy of the policy. All the remaining Employees, Credit Committee and any new hires all sign for receipt and receive copies of the policy annually.

Governing documents etc available to public Part VI line 19

Year-end financials are available as part of our Annual Report and are available at the Annual Meeting and available in all Branch lobbies throughout the the year. Governing documents & policies are available to the public upon request for viewing.

Filing and Contact Details

Filer

EIN
39-1094896

Signing Officer

Name
Alan Zimprich
Title
CFOVP-Heritage
Phone
7154282031
Signed
2014-04-03
Discuss with paid preparer
No

Organization Details

Principal Officer
Donna M Koch
Formed
1968
Legal Domicile
Wi
Voting Board Members
5
Independent Board Members
5
Employees
16

Preparer

Preparer
Cari Thompson
Phone
2625490200
Supplemental Narrative

Additional Explanations

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

Price Credit Union merged with Heritage Credit Union effective 4/30/2013. Members transferring from Price Credit Union to Heritage Credit Union have access to all products and services as of April, 2013.

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 Heritage Credit Union as part of merger.

Raw XML Appendix362 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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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 organization's 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/ExplanationTxt3Due to the final Board of Directors meeting because of a merger was held before receipt of the completed Form 990, it was not provided for their review before approval, but was offered for their review after the fact.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4At the Reorganization Meeting held shortly after the Annual Meeting, all Directors and Management sign a receipt for a copy of the policy. All the remaining Employees, Credit Committee and any new hires all sign for receipt and receive copies of the policy annually.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Year-end financials are available as part of our Annual Report and are available at the Annual Meeting and available in all Branch lobbies throughout the the year. Governing documents & policies are available to the public upon request for viewing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Price Credit Union merged with Heritage Credit Union effective 4/30/2013. Members transferring from Price Credit Union to Heritage Credit Union have access to all products and services as of April, 2013.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7Net Asset Balance at the time of merger. All Net Assets were transferred to Heritage Credit Union as part of merger.
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/FormAndLineReferenceDesc6Cessation of or significant change to any program service Part III line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Explanation of other changes in net assets or fund balances Part XI line 9
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
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IRS990/TerminateOperationsInd0true
IRS990/TotalAssetsBOYAmt031060904
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IRS990/TotalEmployeeCnt016
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0749861
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt028291662
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt028291662
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02769242
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt00
IRS990/TotalOtherCompensationAmt04590
IRS990/TotalProgramServiceRevenueAmt0241120
IRS990/TotalReportableCompFromOrgAmt025533
IRS990/TotalRevenueGrp/ExclusionAmt053389
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0241120
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0294509
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt031060904
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt00
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/TotalAmt01185
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0www.pricecu.org
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02015-11-30 17:44:51Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0false
ReturnHeader/BusinessOfficerGrp/PersonNm0Alan Zimprich
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CFOVP-Heritage
ReturnHeader/BusinessOfficerGrp/PhoneNum07154282031
ReturnHeader/BusinessOfficerGrp/SignatureDt02014-04-03
ReturnHeader/Filer/BusinessName/BusinessNameLine10Price Credit Union
ReturnHeader/Filer/BusinessNameControlTxt0PRIC
ReturnHeader/Filer/EIN0391094896
ReturnHeader/Filer/USAddress/AddressLine101125 Town Street
ReturnHeader/Filer/USAddress/City0Prentice
ReturnHeader/Filer/USAddress/State0WI
ReturnHeader/Filer/USAddress/ZIPCode054556
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0391127312
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10WCUL Services Corp
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine10N25W23131 Paul Rd Suite 500
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0Pewaukee
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0WI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode053072
ReturnHeader/PreparerPersonGrp/PhoneNum02625490200
ReturnHeader/PreparerPersonGrp/PreparationDt02014-04-10
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Cari Thompson
ReturnHeader/ReturnTs02014-04-10T17:41:38-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-01-01
ReturnHeader/TaxPeriodEndDt02013-04-30
ReturnHeader/TaxYr02013

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