Civic Intelligence

Diversified Credit Union

990 • Fiscal year 2017 • EIN 41-0414895

Jan 01, 2017 to Dec 31, 2017 • Filed on May 10, 2018

700 Linden Ave WMinneapolis, MN 55403

(612) 321-5300

Siviq Scores

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

Liabilities / Assets

91st percentile

0.92x

Higher debt load relative to assets than 91% of similar nonprofits.

2017 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2017

Liabilities / Revenue

27th percentile

16.27x

Higher debt load relative to revenue than 27% of similar nonprofits.

2017 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2017

Net Margin

26th percentile

3.9%

Higher net margin than 26% of similar nonprofits.

2017 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2017

Top Officer Pay

85th percentile

$138,395

Higher top officer pay than 85% of similar nonprofits.

Top officer pay equals 5.8% of source-year revenue.

2017 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2017

Asset Growth

99th percentile

26%

Faster asset growth than 99% of similar nonprofits.

2017 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2016 to 2017

Revenue Growth

98th percentile

32%

Faster revenue growth than 98% of similar nonprofits.

2017 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2016 to 2017

Assets

Up

$42,169,173

Up $8,741,439 (+26%) from 2016

Net Assets

Up

$3,474,484

Up $92,375 (+2.7%) from 2016

Liabilities

Up

$38,694,689

Up $8,649,064 (+29%) from 2016

Revenue

Up

$2,377,630

Up $575,636 (+32%) from 2016

Expenses

Up

$2,285,255

Up $501,513 (+28%) from 2016

Net Income

Up

$92,375

Up $74,123 (+406%) from 2016

Historical Trend

Balance Sheet Trend

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

$60M$40M$20M$0Assets 2010: $26,247,921Liabilities 2010: $23,892,274Net Assets 2010: $2,355,6472010Assets 2011: $27,840,337Liabilities 2011: $25,387,710Net Assets 2011: $2,452,6272011Assets 2012: $30,703,096Liabilities 2012: $28,112,494Net Assets 2012: $2,590,6022012Assets 2013: $31,698,203Liabilities 2013: $28,848,942Net Assets 2013: $2,849,2612013Assets 2014: $31,379,958Liabilities 2014: $28,247,013Net Assets 2014: $3,132,9452014Assets 2015: $31,338,892Liabilities 2015: $27,975,035Net Assets 2015: $3,363,8572015Assets 2016: $33,427,734Liabilities 2016: $30,045,625Net Assets 2016: $3,382,1092016Assets 2017: $42,169,173Liabilities 2017: $38,694,689Net Assets 2017: $3,474,4842017Assets 2018: $36,874,594Liabilities 2018: $33,744,991Net Assets 2018: $3,129,6032018Assets 2019: $35,973,392Liabilities 2019: $32,739,428Net Assets 2019: $3,233,9642019Assets 2020: $40,835,345Liabilities 2020: $37,147,813Net Assets 2020: $3,687,5322020Assets 2021: $0Liabilities 2021: $0Net Assets 2021: $02021

Highlighted filing

2017

Assets$42,169,173
Liabilities$38,694,689
Net Assets$3,474,484

Operations Trend

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $1,648,9722010Expenses 2011: $1,489,7812011Expenses 2012: $1,510,7492012Revenue 2013: $1,642,371Expenses 2013: $1,383,712Net Income 2013: $258,6592013Revenue 2014: $1,616,130Expenses 2014: $1,332,446Net Income 2014: $283,6842014Revenue 2015: $1,708,658Expenses 2015: $1,477,746Net Income 2015: $230,9122015Revenue 2016: $1,801,994Expenses 2016: $1,783,742Net Income 2016: $18,2522016Revenue 2017: $2,377,630Expenses 2017: $2,285,255Net Income 2017: $92,3752017Revenue 2018: $2,877,234Expenses 2018: $3,222,115Net Income 2018: -$344,8812018Revenue 2019: $2,624,475Expenses 2019: $2,520,114Net Income 2019: $104,3612019Revenue 2020: $2,391,724Expenses 2020: $1,938,156Net Income 2020: $453,5682020Revenue 2021: $587,402Expenses 2021: $1,347,802Net Income 2021: -$760,4002021

Highlighted filing

2017

Revenue$2,377,630
Expenses$2,285,255
Net Income$92,375
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
May 10, 2018
Return Version
2017v2.0
Gross Receipts
$2,377,630
Mission and Program Overview

Mission

It is the mission of diversified credit union to improve the financial well being of our membership.

Improve the financial well being of our membership. Loans are made to members for productive purposes. Excess funds are invested , enabling the credit union to pay all members a fair return on savings.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$25,337,918$38,561,538▲ $13,223,620
Rtn Earn Endowment Incm Other Fnds$3,382,109$3,474,484▲ $92,375
Savings and Temporary Cash Investments$7,469,158$2,376,824▼ $5,092,334
Receivables From Officers Etc$26,309$241,479▲ $215,170
Cash and Non-Interest-Bearing Accounts$161,416$196,551▲ $35,135
Prepaid Expenses and Deferred Charges$34,372$47,792▲ $13,420
Land, Buildings, and Equipment, Net$41,837$46,262▲ $4,425
Other Notes and Loans Receivable, Net$0--
Pledges and Grants Receivable$0--
Receivable From Disqualified Prsn$0--
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Inventories for Sale or Use$0--
Total Assets$33,427,734$42,169,173▲ $8,741,439
Other Assets Total$356,724$698,727▲ $342,003
Liabilities
Accounts Payable and Accrued Expenses$30,045,625$38,694,689▲ $8,649,064
Total Liabilities$30,045,625$38,694,689▲ $8,649,064
Net Assets / Fund Balance
Total Net Assets Fund Balance$3,382,109$3,474,484▲ $92,375
Total Liabilities and Net Assets / Fund Balance$33,427,734$42,169,173▲ $8,741,439

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$0$0$0
Other Land Buildings$0$0$0
Land$0-$0
Equipment$46,262$287,616$0
Leasehold Improvements$0$0$0
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Chris HollenPresidentFT$138,395$138,395

Board Members and Trustees

NameTitle
Mike Gilbertsonchairman
Steve Marshvice chairman
james schaeferdirector
Paul Millersecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,311,217
Investment Income
$66,413
Other Revenue
$0
Change in Net Assets
$92,375
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,135,599
Other Expenses$1,002,780
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$888,935
Fees for Services Accounting---$208,259
Benefits to Members---$146,876
Office Expenses---$125,680
Other Employee Benefits---$125,148
Occupancy---$119,447
Advertising---$90,160
Other Expenses---$69,395
Payroll Taxes---$65,497
Travel---$56,787
Pension Plan Contributions---$56,019
Fees for Services Management---$28,120
Depreciation Depletion---$24,978
Insurance---$16,844
Information Technology---$12,159
Conferences and Meetings---$10,481
Fees for Services Other---$4,714
Interest---$3,322
All Other Expenses---$1,341
Fees for Services Legal---$204
Total Functional Expenses$0$0$0$2,285,255
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$26,309$241,479▲ $215,170
Receivables from Disqualified Persons$0--
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
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
Yes
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

A n election for directors is held each year at the annual meeting. Each member has one vote and elects a director for a 3 year term. This means that each year, 1 or 2 directors need to be elected.

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

Each member has one vote to elect directors to the board.

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

By law changes and any donations must be approved by the membership.

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

The SVP of Finance prepares the 990 using Board approved financials. The 990 is verified and approved by the President.

Form 990, Part VI, Section B, Line 15

The Compensation for the president is determined by executive committee. CUNA staff and salary survey is used to provide wage data and market conditions. The same data sources are used by the President to determine staff salaries.

Form 990, Part VI, Section C, Line 18

Financial statements and profile are available on line with the NCUA at www.ncua.gov. This data is part of the quarterly filing of form 5300 call report.

Form 990, Part VI, Section C, Line 19

The ncua art www.ncua.gov maintains form 5300 data.

Filing and Contact Details

Filer

Filer Name
Diversified Credit Union
EIN
41-0414895
Phone
6123215300
Address
700 Linden Ave W, Minneapolis, MN 55403

Signing Officer

Name
Chris Hollen
Title
President/CEO
Phone
6123215305
Signed
2018-05-10

Organization Details

Principal Officer
Chris Hollen
Formed
1930
Legal Domicile
Mn
Voting Board Members
5
Independent Board Members
4
Employees
20
Volunteers
7
Raw XML AppendixShowing 400 of 410 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/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/TotalBookValueLandBuildingsAmt046262
IRS990/ScheduleJRequiredInd00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt0171233
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt147616
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt24940
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt39531
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt48159
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd01
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd11
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd21
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd31
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd41
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd10
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd20
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd30
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd40
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd1X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd2X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd3X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd4X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0building purchase
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt1business loc
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt2AUTO LOAN
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt3USED AUTO
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt4PERSONAL
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt0172800
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt188000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt218000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt311970
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt415000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0mike gilbertson
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm1mike gilbertson
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm2MIKE GILBERTSON
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm3PAUL MILLER
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm4JAMES SCHAEFER
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0chairman
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt1chairman
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt2CHAIRMAN
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt3SECRETARY
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt4BOARD MEMBER
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd01
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd11
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd21
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd31
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd41
IRS990ScheduleL/TotalBalanceDueAmt0241479
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A n election for directors is held each year at the annual meeting. Each member has one vote and elects a director for a 3 year term. This means that each year, 1 or 2 directors need to be elected.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Each member has one vote to elect directors to the board.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2By law changes and any donations must be approved by the membership.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The SVP of Finance prepares the 990 using Board approved financials. The 990 is verified and approved by the President.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The Compensation for the president is determined by executive committee. CUNA staff and salary survey is used to provide wage data and market conditions. The same data sources are used by the President to determine staff salaries.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Financial statements and profile are available on line with the NCUA at www.ncua.gov. This data is part of the quarterly filing of form 5300 call report.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6The ncua art www.ncua.gov maintains form 5300 data.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, Line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, Line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section A, Line 7b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section B, Line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Section C, Line 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part VI, Section C, Line 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MN
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt033427734
IRS990/TotalAssetsEOYAmt042169173
IRS990/TotalAssetsGrp/BOYAmt033427734
IRS990/TotalAssetsGrp/EOYAmt042169173
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt020
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt02285255
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt030045625
IRS990/TotalLiabilitiesEOYAmt038694689
IRS990/TotalLiabilitiesGrp/BOYAmt030045625
IRS990/TotalLiabilitiesGrp/EOYAmt038694689
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt03382109
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03474484
IRS990/TotalOtherCompensationAmt00
IRS990/TotalOtherProgSrvcExpenseAmt00
IRS990/TotalOtherProgSrvcGrantAmt00
IRS990/TotalOtherProgSrvcRevenueAmt00
IRS990/TotalOthProgramServiceRevGrp/ExclusionAmt00
IRS990/TotalOthProgramServiceRevGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt00
IRS990/TotalOthProgramServiceRevGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalProgramServiceExpensesAmt02285255
IRS990/TotalProgramServiceRevenueAmt02311217
IRS990/TotalReportableCompFromOrgAmt0138395
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt02377630
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02377630
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt07
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt033427734
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt042169173
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/TotalAmt056787
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0800 Lasalle Ste 104
IRS990/USAddress/CityNm0minneapolis
IRS990/USAddress/StateAbbreviationCd0MN
IRS990/USAddress/ZIPCd055402
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0www.diversifiedcu.org
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/PersonNm0Chris Hollen
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President/CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum06123215305
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-05-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0DIVERSIFIED CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0DIVE
ReturnHeader/Filer/EIN0410414895
ReturnHeader/Filer/PhoneNum06123215300

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