Cities Credit Union

990 • Fiscal year 2017 • EIN 41-0519535

Jan 01, 2017 to Dec 31, 2017 • Filed on Mar 08, 2018

Organization Profile WWW.CITIESCU.ORG

3625 Talmage Circle Rm/Ste 102Vadnais Heights, MN 55110

(651) 426-3773

Siviq Scores

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

0.92x

Higher debt load relative to assets than 90% of similar nonprofits.

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

20.55x

Higher debt load relative to revenue than 56% of similar nonprofits.

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

3.8%

Higher net margin than 26% of similar nonprofits.

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

$86,003

Higher top officer pay than 34% of similar nonprofits.

Top officer pay equals 6.4% of source-year revenue.

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

3.2%

Faster asset growth than 59% of similar nonprofits.

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

3.6%

Faster revenue growth than 42% of similar nonprofits.

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

Balance Sheet

Liabilities / Assets90th percentile

Assets

$29,900,513

Up $924,987 (+3.2%) from 2016

Net Assets

$2,484,628

Up $51,117 (+2.1%) from 2016

Liabilities

$27,415,885

Up $873,870 (+3.3%) from 2016

Revenue And Expenses

Liabilities / Revenue56th percentile Net Margin26th percentile

Revenue

$1,334,226

Up $46,757 (+3.6%) from 2016

Expenses

$1,283,109

Up $34,116 (+2.7%) from 2016

Net Income

$51,117

Up $12,641 (+33%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth59th percentile

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

Highlighted filing

2017

Assets$29,900,513

Liabilities$27,415,885

Net Assets$2,484,628

Open 2017 Filing

Operations Trend

Revenue Growth42nd percentile

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

Highlighted filing

2017

Revenue$1,334,226

Expenses$1,283,109

Net Income$51,117

Open 2017 Filing

Jump To

Filing Snapshot

Filing Period: Jan 1, 2017 to Dec 31, 2017
Signed: Mar 8, 2018
Return Version: 2017v2.3
Gross Receipts: $1,334,226

Mission and Program Overview

Mission

Neighborly, comfortable, fun and righthearted service. Offers humble guidance to members.

Balance Sheet Detail

Line	Beginning	End	Change
Assets
Other Notes and Loans Receivable, Net	$15,810,469	$15,644,780	▼ $165,689
Investments Program Related	$9,556,144	$10,068,681	▲ $512,537
Rtn Earn Endowment Incm Other Fnds	$2,433,511	$2,484,628	▲ $51,117
Savings and Temporary Cash Investments	$2,187,305	$2,439,714	▲ $252,409
Land, Buildings, and Equipment, Net	$705,328	$691,102	▼ $14,226
Cash and Non-Interest-Bearing Accounts	$181,541	$232,169	▲ $50,628
Prepaid Expenses and Deferred Charges	$87,832	$82,797	▼ $5,035
Total Assets	$28,975,526	$29,900,513	▲ $924,987
Other Assets Total	$446,907	$741,270	▲ $294,363
Liabilities
Other Liabilities	$26,346,235	$27,185,837	▲ $839,602
Accounts Payable and Accrued Expenses	$195,780	$230,048	▲ $34,268
Total Liabilities	$26,542,015	$27,415,885	▲ $873,870
Net Assets / Fund Balance
Total Net Assets Fund Balance	$2,433,511	$2,484,628	▲ $51,117
Total Liabilities and Net Assets / Fund Balance	$28,975,526	$29,900,513	▲ $924,987

Asset Categories

Asset	Book Value	Depreciation	Basis
Buildings	$423,286	$438,441	$861,727
Equipment	$68,229	$649,164	$717,393
Land	$180,000	-	$180,000
Other Land Buildings	$19,587	$5,751	$25,338
Investment Program Related Org	$4,361	-	-

Compensation and Service Providers

Top Officer Pay34th percentile

Employees

Name	Title	Full / Part Time	Base	Other	Total
Mike Enright	President	FT	$77,509	$8,494	$86,003
Kristine Heuer	Vice Preside	FT	$61,308	$14,378	$75,686
James Walker	Secretary	-	$600	-	$600
Gerald Morri	Vice Chair	-	$300	-	$300
Danile Pederson	Chair	-	$250	-	$250
Thomas Brockway	Director	-	$225	-	$225
Roger Debace	Director	-	$200	-	$200

Revenue and Support

Revenue Composition

Contributions and Grants: $0
Program Service Revenue: $1,085,351
Investment Income: $218,590
Other Revenue: $30,285
Change in Net Assets: $51,117

Expenses and Functional Allocation

Major Expense Lines

Line Item	Amount
Other Expenses	$789,091
Salaries, Compensation, and Employee Benefits	$494,018
Grants and Similar Amounts Paid	$0
Professional Fundraising Fees	$0
Total Fundraising Expense	$0

Functional Expense Allocation

Line Item	Program	Management	Fundraising	Total
Office Expenses	-	-	-	$366,659
Other Salaries and Wages	-	-	-	$261,716
Current Officers, Directors, Trustees, and Key Employees	-	-	-	$140,392
Occupancy	-	-	-	$138,674
Depreciation Depletion	-	-	-	$66,466
Advertising	-	-	-	$42,000
Other Employee Benefits	-	-	-	$35,963
Information Technology	-	-	-	$33,587
Payroll Taxes	-	-	-	$29,547
Other Expenses	-	-	-	$27,709
Insurance	-	-	-	$27,573
Pension Plan Contributions	-	-	-	$26,400
Fees for Services Other	-	-	-	$15,998
Conferences and Meetings	-	-	-	$10,240
Fees for Services Accounting	-	-	-	$8,426
Interest	-	-	-	$177
Fees for Services Legal	-	-	-	$175
Total Functional Expenses	$0	$0	$0	$1,283,109

Fundraising, Events, and Gaming

Fundraising activities: No
Gaming activities: No
Professional fundraiser used: No

Fundraising and Gaming Totals

Line Item	Amount
Professional Fundraising Fees	$0

Political and Lobbying Activity

Political campaign activity: No
Subject to proxy tax: No

Debt and Bond Financing

Other Reported Liabilities

Liability	Amount
Member Shares and Certificates	$27,185,837

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: Yes
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

“Vice president provides the information to independent preparer who completes the return. Vp reviews the return for accuracy, and then authorizes preparer to e-file the approved return. Vp notifies supervisory committe it has been filed and is available for their reivew. The board is notified at their next meeting.”

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

“At the first board meeting after the annual meeting each year, the board members are asked to disclose any known conflicts of interest. Any conflicts are noted in the board minutes.”

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

“The board is provided comparable data for ceo salaries which they review. The board meets with the ceo to review his proformance and goals for the next year. The board then determines the ceo compensation. The board chair prepares a signed letter to the ceo to document his approved compensation, and authorize the change in his payroll amount.”

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

“The president determines salary of all other employees using comparable salary data. The compensation amounts are included in the annual budget approved by the board of directors.”

Form 990, Page 6, Part VI, Line 19

“Governing documents are available on request, and financial statements are posted in the lobby.”

Filing and Contact Details

Filer

Filer Name: Cities Credit Union
EIN: 41-0519535
Phone: 6514263773
Address: 3625 TALMAGE CIRCLE RM/STE 102, VADNAIS HEIGHTS, MN 55110

Signing Officer

Name: Kristine Heuer
Title: Vice President
Phone: 6514263773
Signed: 2018-03-08

Organization Details

Principal Officer: Mike Enright
Formed: 1936
Legal Domicile: Mn
Voting Board Members: 5
Independent Board Members: 5
Employees: 8

Preparer

Firm: Audit Threesixty
Address: 1202 JOHNSON ST, ONALASKA, WI 54650-2008
Preparer: Peter Rasmussen
Phone: 6083173765

Raw XML Appendix354 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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IRS990/Form990PartVIISectionAGrp/TitleTxt	4	DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt	5	PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt	6	VICE PRESIDE
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IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd	2	C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd	3	C
IRS990ScheduleD/LandGrp/BookValueAmt	0	180000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt	0	180000
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt	0	19587
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt	0	5751
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt	0	25338
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt	0	27185837
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc	0	MEMBER SHARES AND CERTIFICATES
IRS990ScheduleD/TotalBookValueLandBuildingsAmt	0	691102
IRS990ScheduleD/TotalBookValueProgramRltdAmt	0	10068681
IRS990ScheduleD/TotalLiabilityAmt	0	27185837
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	0	THE ORGANIZATION HAS MEMBERS. TO BE A MEMBER ONE MUST HAVE A SHARE (SAVINGS) ACCOUNT AT THE CREDIT UNION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	1	THE BOARD OF DIRECTORS IS ELECTED BY THE CREDIT UNION MEMBERS. EACH MEMBER HAS ONE VOTE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	2	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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	3	VICE PRESIDENT PROVIDES THE INFORMATION TO INDEPENDENT PREPARER WHO COMPLETES THE RETURN. VP REVIEWS THE RETURN FOR ACCURACY, AND THEN AUTHORIZES PREPARER TO E-FILE THE APPROVED RETURN. VP NOTIFIES SUPERVISORY COMMITTE IT HAS BEEN FILED AND IS AVAILABLE FOR THEIR REIVEW. THE BOARD IS NOTIFIED AT THEIR NEXT MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	4	AT THE FIRST BOARD MEETING AFTER THE ANNUAL MEETING EACH YEAR, THE BOARD MEMBERS ARE ASKED TO DISCLOSE ANY KNOWN CONFLICTS OF INTEREST. ANY CONFLICTS ARE NOTED IN THE BOARD MINUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	5	THE BOARD IS PROVIDED COMPARABLE DATA FOR CEO SALARIES WHICH THEY REVIEW. THE BOARD MEETS WITH THE CEO TO REVIEW HIS PROFORMANCE AND GOALS FOR THE NEXT YEAR. THE BOARD THEN DETERMINES THE CEO COMPENSATION. THE BOARD CHAIR PREPARES A SIGNED LETTER TO THE CEO TO DOCUMENT HIS APPROVED COMPENSATION, AND AUTHORIZE THE CHANGE IN HIS PAYROLL AMOUNT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	6	THE PRESIDENT DETERMINES SALARY OF ALL OTHER EMPLOYEES USING COMPARABLE SALARY DATA. THE COMPENSATION AMOUNTS ARE INCLUDED IN THE ANNUAL BUDGET APPROVED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	7	GOVERNING DOCUMENTS ARE AVAILABLE ON REQUEST, AND FINANCIAL STATEMENTS ARE POSTED IN THE LOBBY.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	0	FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	1	FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	2	FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	3	FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	4	FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	5	FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	6	FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	7	FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SubjectToProxyTaxInd	0	false
IRS990/TaxablePartyNotificationInd	0	false
IRS990/TaxExemptBondsInd	0	false
IRS990/TempOrPermanentEndowmentsInd	0	false
IRS990/TerminateOperationsInd	0	false
IRS990/TotalAssetsBOYAmt	0	28975526
IRS990/TotalAssetsEOYAmt	0	29900513
IRS990/TotalAssetsGrp/BOYAmt	0	28975526
IRS990/TotalAssetsGrp/EOYAmt	0	29900513
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IRS990/TotalEmployeeCnt	0	8
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt	0	0
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt	0	0
IRS990/TotalFunctionalExpensesGrp/TotalAmt	0	1283109
IRS990/TotalGrossUBIAmt	0	0
IRS990/TotalLiabilitiesBOYAmt	0	26542015
IRS990/TotalLiabilitiesEOYAmt	0	27415885
IRS990/TotalLiabilitiesGrp/BOYAmt	0	26542015
IRS990/TotalLiabilitiesGrp/EOYAmt	0	27415885
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt	0	2433511
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt	0	2484628
IRS990/TotalOtherCompensationAmt	0	22872
IRS990/TotalProgramServiceRevenueAmt	0	1085351
IRS990/TotalReportableCompFromOrgAmt	0	140392
IRS990/TotalRevenueGrp/ExclusionAmt	0	248875
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt	0	1085351
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt	0	1334226
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt	0	28975526
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt	0	29900513
IRS990/TypeOfOrganizationCorpInd	0	X
IRS990/UnrelatedBusIncmOverLimitInd	0	false
IRS990/UponRequestInd	0	X
IRS990/USAddress/AddressLine1Txt	0	3625 TALMAGE CIRCLE
IRS990/USAddress/CityNm	0	VADNAIS HEIGHTS
IRS990/USAddress/StateAbbreviationCd	0	MN
IRS990/USAddress/ZIPCd	0	55110
IRS990/VotingMembersGoverningBodyCnt	0	5
IRS990/VotingMembersIndependentCnt	0	5
IRS990/WebsiteAddressTxt	0	WWW.CITIESCU.ORG
IRS990/WhistleblowerPolicyInd	0	true
ReturnHeader/BuildTS	0	2018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/PersonNm	0	KRISTINE HEUER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt	0	VICE PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum	0	6514263773
ReturnHeader/BusinessOfficerGrp/SignatureDt	0	2018-03-08
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt	0	CITIES CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt	0	CITI
ReturnHeader/Filer/EIN	0	410519535
ReturnHeader/Filer/PhoneNum	0	6514263773
ReturnHeader/Filer/USAddress/AddressLine1Txt	0	3625 TALMAGE CIRCLE RM/STE 102
ReturnHeader/Filer/USAddress/CityNm	0	VADNAIS HEIGHTS
ReturnHeader/Filer/USAddress/StateAbbreviationCd	0	MN
ReturnHeader/Filer/USAddress/ZIPCd	0	55110
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId	0	9BC338CFDC890234D28751759F3912E6BC56CABB
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId	0	9BC338CFDC890234D28751759F3912E6BC56CABB
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd	0	P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt	0	97.88.144.85
ReturnHeader/FilingSecurityInformation/IPDt	0	2018-04-26
ReturnHeader/FilingSecurityInformation/IPTimezoneCd	0	CD
ReturnHeader/FilingSecurityInformation/IPTm	0	08:57:03
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN	0	811697509
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt	0	AUDIT THREESIXTY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt	0	1202 JOHNSON ST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm	0	ONALASKA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd	0	WI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd	0	546502008
ReturnHeader/PreparerPersonGrp/PhoneNum	0	6083173765
ReturnHeader/PreparerPersonGrp/PreparationDt	0	2018-04-26
ReturnHeader/PreparerPersonGrp/PreparerPersonNm	0	PETER RASMUSSEN
ReturnHeader/PreparerPersonGrp/SelfEmployedInd	0	X
ReturnHeader/ReturnTs	0	2018-04-26T08:57:03-05:00
ReturnHeader/ReturnTypeCd	0	990
ReturnHeader/TaxPeriodBeginDt	0	2017-01-01
ReturnHeader/TaxPeriodEndDt	0	2017-12-31
ReturnHeader/TaxYr	0	2017

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing

Assets: $29,900,513
Liabilities: $27,415,885
Net assets: $2,484,628
Revenue: $1,334,226
Expenses: $1,283,109
Net income: $51,117

	Balance Sheet			Operations
Year	Assets	Liabilities	Net Assets	Revenue	Expenses	Net Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.	$0.00	$0.00	$0.00	$1.50	$2.18	$0.68
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.	$34.3	$31.7	$2.68	$1.49	$1.50	$0.01
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.	$38.0	$35.3	$2.69	$1.47	$1.45	$0.02
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.	$36.5	$33.8	$2.67	$1.27	$1.25	$0.03
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.	$34.5	$31.9	$2.64	$1.33	$1.32	$0.01
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.	$30.2	$27.6	$2.63	$1.47	$1.41	$0.06
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.	$29.4	$26.8	$2.57	$1.43	$1.35	$0.08
2017Detailed filing. Detailed filing data is available for this year.	$29.9	$27.4	$2.48	$1.33	$1.28	$0.05
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.	$29.0	$26.5	$2.43	$1.29	$1.25	$0.04
2015Import issue. A filing source exists for this year, but detailed import did not complete cleanly.	$28.0	$25.6	$2.40	$1.31	$1.20	$0.10
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.	$27.3	$25.1	$2.29	$1.35	$1.24	$0.11
2013XML pending. An XML filing is linked for this year, but detailed extraction is still pending.	$26.5	$24.3	$2.18	$1.34	$1.26	$0.07
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.	$26.7	$24.6	$2.10		$1.27
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.	$25.0	$22.9	$2.05		$1.31
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.	$25.0	$23.0	$2.03		$1.41