Civic Intelligence

Midland Co Op Credit Union

990 • Fiscal year 2014 • EIN 41-0764721

Jan 01, 2014 to Dec 31, 2014 • Filed on Apr 17, 2015

Organization ProfileMIDLANDCOOPCU.COM

View Organization Page

5210 Central Avenue NE Suite 200Minneapolis, MN 55421-1827

(763) 572-1368

Siviq Scores

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

Liabilities / Assets

77th percentile

0.90x

Higher debt load relative to assets than 77% of similar nonprofits.

2014 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2014

Liabilities / Revenue

95th percentile

38.03x

Higher debt load relative to revenue than 95% of similar nonprofits.

2014 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2014

Net Margin

21st percentile

-1.8%

Higher net margin than 21% of similar nonprofits.

2014 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2014

Top Officer Pay

57th percentile

$74,379

Higher top officer pay than 57% of similar nonprofits.

Top officer pay equals 30.4% of source-year revenue.

2014 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2014

Asset Growth

58th percentile

2.7%

Faster asset growth than 58% of similar nonprofits.

2014 filings • 501(c)14 • $10M-$25M nonprofits • Annualized from 2013 to 2014

Revenue Growth

49th percentile

-0.5%

Faster revenue growth than 49% of similar nonprofits.

2014 filings • 501(c)14 • $10M-$25M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets77th percentile

Assets

Up

$10,323,318

Up $266,668 (+2.7%) from 2013

Net Assets

Down

$1,026,825

Down $4,514 (-0.4%) from 2013

Liabilities

Up

$9,296,493

Up $271,182 (+3.0%) from 2013

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin21st percentile

Revenue

Down

$244,431

Down $1,225 (-0.5%) from 2013

Expenses

Down

$248,945

Down $11,666 (-4.5%) from 2013

Net Income

Up

-$4,514

Up $10,441 (+70%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth58th percentile

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

$15M$10M$5.0M$0Assets 2010: $10,213,842Liabilities 2010: $9,134,243Net Assets 2010: $1,079,5992010Assets 2011: $10,167,387Liabilities 2011: $9,112,884Net Assets 2011: $1,054,5032011Assets 2012: $10,243,322Liabilities 2012: $9,197,030Net Assets 2012: $1,046,2922012Assets 2013: $10,056,650Liabilities 2013: $9,025,311Net Assets 2013: $1,031,3392013Assets 2014: $10,323,318Liabilities 2014: $9,296,493Net Assets 2014: $1,026,8252014Assets 2015: $10,045,848Liabilities 2015: $9,023,507Net Assets 2015: $1,022,3412015Assets 2016: $9,949,333Liabilities 2016: $8,924,052Net Assets 2016: $1,025,2812016Assets 2017: $9,654,491Liabilities 2017: $8,625,586Net Assets 2017: $1,028,9052017Assets 2018: $9,566,961Liabilities 2018: $8,532,581Net Assets 2018: $1,034,3802018Assets 2019: $9,309,849Liabilities 2019: $8,274,103Net Assets 2019: $1,035,7462019Assets 2020: $10,757,852Liabilities 2020: $9,717,688Net Assets 2020: $1,040,1642020Assets 2021: $0Liabilities 2021: $0Net Assets 2021: $02021

Highlighted filing

2014

Assets$10,323,318
Liabilities$9,296,493
Net Assets$1,026,825
Open 2014 Filing

Operations Trend

Revenue Growth49th percentile

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

$400K$200K$0-$200KExpenses 2010: $386,1572010Expenses 2011: $318,7692011Expenses 2012: $275,2142012Revenue 2013: $245,656Expenses 2013: $260,611Net Income 2013: -$14,9552013Revenue 2014: $244,431Expenses 2014: $248,945Net Income 2014: -$4,5142014Revenue 2015: $241,755Expenses 2015: $246,239Net Income 2015: -$4,4842015Revenue 2016: $245,964Expenses 2016: $243,024Net Income 2016: $2,9402016Revenue 2017: $258,669Expenses 2017: $255,045Net Income 2017: $3,6242017Revenue 2018: $284,790Expenses 2018: $279,315Net Income 2018: $5,4752018Revenue 2019: $314,309Expenses 2019: $312,943Net Income 2019: $1,3662019Revenue 2020: $285,598Expenses 2020: $281,180Net Income 2020: $4,4182020Revenue 2021: $233,664Expenses 2021: $273,148Net Income 2021: -$39,4842021

Highlighted filing

2014

Revenue$244,431
Expenses$248,945
Net Income-$4,514
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Apr 17, 2015
Return Version
2014v5.0
Gross Receipts
$244,431
Mission and Program Overview

Mission

To provide the best possible financial and ancillary services to member, in good faith, and in the mutual interests of both the member and the Credit Union.

To provide the best possible financial and ancillary services to members, in good faith, and in the mutual interests of both the member and the credit union.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$5,047,604$5,088,604▲ $41,000
Other Notes and Loans Receivable, Net$4,366,645$4,318,215▼ $48,430
Rtn Earn Endowment Incm Other Fnds$1,031,339$1,026,825▼ $4,514
Savings and Temporary Cash Investments$509,027$790,190▲ $281,163
Land, Buildings, and Equipment, Net$4,076$9,246▲ $5,170
Prepaid Expenses and Deferred Charges$5,273$7,900▲ $2,627
Cash and Non-Interest-Bearing Accounts$5,000$5,000→ $0
Total Assets$10,056,650$10,323,318▲ $266,668
Other Assets Total$119,025$104,163▼ $14,862
Liabilities
Other Liabilities$8,995,700$9,270,792▲ $275,092
Accounts Payable and Accrued Expenses$29,611$25,701▼ $3,910
Total Liabilities$9,025,311$9,296,493▲ $271,182
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,031,339$1,026,825▼ $4,514
Total Liabilities and Net Assets / Fund Balance$10,056,650$10,323,318▲ $266,668

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$9,246$76,153$85,399
Other Securities$5,088,604--
Compensation and Service Providers
Top Officer Pay57th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Rebecca LindmanManagerFT$61,152$13,227$74,379

Board Members and Trustees

NameTitle
Russell PetersonPresident
Janet KramerDirector
Ken PalmerDirector
Thomas OlsonDirector
Kathleen CareySecretary
Patricia a BrazierTreasurer
Kirk MahrVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$187,011
Investment Income
$39,324
Other Revenue
$18,096
Change in Net Assets
$-4,514
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$148,112
Other Expenses$97,764
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---$61,152
Other Salaries and Wages---$54,645
Office Expenses---$51,515
Occupancy---$17,075
Other Employee Benefits---$17,010
Fees for Services Other---$8,896
Payroll Taxes---$8,745
Insurance---$8,467
Pension Plan Contributions---$6,560
Fees for Services Accounting---$3,675
Benefits to Members---$3,069
Depreciation Depletion---$2,363
Advertising---$1,960
Conferences and Meetings---$1,198
Fees for Services Legal---$1,040
Other Expenses---$168
Total Functional Expenses$0$0$0$248,945
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Members Share Accounts$9,038,633
Share Drafts$225,666
Christmas Club Accounts$6,493
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
No
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 association has members, most of whom are former employees of a former cooperative.”

Form 990, Page 6, Part VI, Line 7A

“By ballot, mailed 30 days prior to annual meeting where results are reported.”

Form 990, Page 6, Part VI, Line 7B

“Decisions requiring approval by members include election of board members and supervisory committee, any amendments to the certificate of the organization, and any proposed changes to the bylaws.”

Form 990, Page 6, Part VI, Line 11B

“Supervisory committee members assist management with the preparation and review of the tax return. Board and committee members are presented with a draft of the tax return to review and ask questions prior to finalization and filing. Board's approval of the tax return is documented with an action step in the minutes.”

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

“Signed and completed by board, comittees and employees annually. Reviewed by board annually.”

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

“Reviewed by personnel committee which consists of 3 board members.”

Form 990, Page 6, Part VI, Line 19

“Available upon request at the office.”

Filing and Contact Details

Filer

Filer Name
Midland Co-op Credit Union
EIN
41-0764721
Phone
7635721368
Address
5210 CENTRAL AVENUE NE SUITE 200, MINNEAPOLIS, MN 55421-1827

Signing Officer

Name
Rebecca Lindman
Title
Manager
Phone
7635721368
Signed
2015-04-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rebecca Lindman
Formed
1955
Legal Domicile
Mn
Voting Board Members
7
Independent Board Members
7
Employees
4

Preparer

Firm
Carlson Highland & Co Llp
Address
11272 86TH AVENUE N SUITE B, MAPLE GROVE, MN 55369
Preparer
Matt Guyer CPA
Phone
7634243818
Raw XML Appendix332 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/ExplanationTxt0THE ASSOCIATION HAS MEMBERS, MOST OF WHOM ARE FORMER EMPLOYEES OF A FORMER COOPERATIVE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BY BALLOT, MAILED 30 DAYS PRIOR TO ANNUAL MEETING WHERE RESULTS ARE REPORTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DECISIONS REQUIRING APPROVAL BY MEMBERS INCLUDE ELECTION OF BOARD MEMBERS AND SUPERVISORY COMMITTEE, ANY AMENDMENTS TO THE CERTIFICATE OF THE ORGANIZATION, AND ANY PROPOSED CHANGES TO THE BYLAWS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3SUPERVISORY COMMITTEE MEMBERS ASSIST MANAGEMENT WITH THE PREPARATION AND REVIEW OF THE TAX RETURN. BOARD AND COMMITTEE MEMBERS ARE PRESENTED WITH A DRAFT OF THE TAX RETURN TO REVIEW AND ASK QUESTIONS PRIOR TO FINALIZATION AND FILING. BOARD'S APPROVAL OF THE TAX RETURN IS DOCUMENTED WITH AN ACTION STEP IN THE MINUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4SIGNED AND COMPLETED BY BOARD, COMITTEES AND EMPLOYEES ANNUALLY. REVIEWED BY BOARD ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5REVIEWED BY PERSONNEL COMMITTEE WHICH CONSISTS OF 3 BOARD MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6AVAILABLE UPON REQUEST AT THE OFFICE.
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
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IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt010056650
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IRS990/TotalAssetsGrp/BOYAmt010056650
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IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0248945
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt09025311
IRS990/TotalLiabilitiesEOYAmt09296493
IRS990/TotalLiabilitiesGrp/BOYAmt09025311
IRS990/TotalLiabilitiesGrp/EOYAmt09296493
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01031339
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01026825
IRS990/TotalOtherCompensationAmt013227
IRS990/TotalProgramServiceRevenueAmt0187011
IRS990/TotalReportableCompFromOrgAmt061152
IRS990/TotalRevenueGrp/ExclusionAmt039324
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0205107
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0244431
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt010056650
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IRS990/UnrelatedBusIncmOverLimitInd0false
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IRS990/USAddress/CityNm0MINNEAPOLIS
IRS990/USAddress/StateAbbreviationCd0MN
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IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0MIDLANDCOOPCU.COM
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02016-02-25 16:41:14Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0REBECCA LINDMAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0MANAGER
ReturnHeader/BusinessOfficerGrp/PhoneNum07635721368
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-04-17
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MIDLAND CO-OP CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0MIDL
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ReturnHeader/Filer/PhoneNum07635721368
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ReturnHeader/Filer/USAddress/CityNm0MINNEAPOLIS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN
ReturnHeader/Filer/USAddress/ZIPCd0554211827
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0411562398
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CARLSON HIGHLAND & CO LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt011272 86TH AVENUE N SUITE B
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MAPLE GROVE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd055369
ReturnHeader/PreparerPersonGrp/PhoneNum07634243818
ReturnHeader/PreparerPersonGrp/PreparationDt02015-04-17
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MATT GUYER CPA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02015-04-30T09:25:25-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-01-01
ReturnHeader/TaxPeriodEndDt02014-12-31
ReturnHeader/TaxYr02014

Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$10,323,318
Liabilities
$9,296,493
Net assets
$1,026,825
Revenue
$244,431
Expenses
$248,945
Net income
-$4,514
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2021Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.23$0.27$0.04
2020Detailed filing. Detailed filing data is available for this year.$10.8$9.72$1.04$0.29$0.28$0.00
2019Detailed filing. Detailed filing data is available for this year.$9.31$8.27$1.04$0.31$0.31$0.00
2018Detailed filing. Detailed filing data is available for this year.$9.57$8.53$1.03$0.28$0.28$0.01
2017Detailed filing. Detailed filing data is available for this year.$9.65$8.63$1.03$0.26$0.26$0.00
2016Detailed filing. Detailed filing data is available for this year.$9.95$8.92$1.03$0.25$0.24$0.00
2015Detailed filing. Detailed filing data is available for this year.$10.0$9.02$1.02$0.24$0.25$0.00
2014Detailed filing. Detailed filing data is available for this year.$10.3$9.30$1.03$0.24$0.25$0.00
2013Detailed filing. Detailed filing data is available for this year.$10.1$9.03$1.03$0.25$0.26$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.2$9.20$1.05$0.28
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.2$9.11$1.05$0.32
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.2$9.13$1.08$0.39