Civic Intelligence

Midland Co Op Credit Union

990 • Fiscal year 2017 • EIN 41-0764721

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

Organization Profilewww.midlandcoopcu.com

View Organization Page

5210 Central Ave NE Suite 200Minneapolis, MN 55421

(763) 572-1368

Siviq Scores

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

Liabilities / Assets

73rd percentile

0.89x

Higher debt load relative to assets than 73% of similar nonprofits.

2017 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2017

Liabilities / Revenue

92nd percentile

33.35x

Higher debt load relative to revenue than 92% of similar nonprofits.

2017 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2017

Net Margin

37th percentile

1.4%

Higher net margin than 37% of similar nonprofits.

2017 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2017

Top Officer Pay

82nd percentile

$78,271

Higher top officer pay than 82% of similar nonprofits.

Top officer pay equals 30.3% of source-year revenue.

2017 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2017

Asset Growth

22nd percentile

-3.0%

Faster asset growth than 22% of similar nonprofits.

2017 filings • 501(c)14 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Revenue Growth

66th percentile

5.2%

Faster revenue growth than 66% of similar nonprofits.

2017 filings • 501(c)14 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets73rd percentile

Assets

Down

$9,654,491

Down $294,842 (-3.0%) from 2016

Net Assets

Up

$1,028,905

Up $3,624 (+0.4%) from 2016

Liabilities

Down

$8,625,586

Down $298,466 (-3.3%) from 2016

Revenue And Expenses
Liabilities / Revenue92nd percentileNet Margin37th percentile

Revenue

Up

$258,669

Up $12,705 (+5.2%) from 2016

Expenses

Up

$255,045

Up $12,021 (+4.9%) from 2016

Net Income

Up

$3,624

Up $684 (+23%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth22nd 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

2017

Assets$9,654,491
Liabilities$8,625,586
Net Assets$1,028,905
Open 2017 Filing

Operations Trend

Revenue Growth66th 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

2017

Revenue$258,669
Expenses$255,045
Net Income$3,624
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
May 10, 2018
Return Version
2017v2.0
Gross Receipts
$258,669
Mission and Program Overview

Mission

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.

Operated for Members Mutual Benefits

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$4,880,559$4,592,559▼ $288,000
Other Notes and Loans Receivable, Net$4,374,037$4,186,991▼ $187,046
Rtn Earn Endowment Incm Other Fnds$1,025,281$1,028,905▲ $3,624
Savings and Temporary Cash Investments$577,143$754,808▲ $177,665
Land, Buildings, and Equipment, Net$6,997$5,792▼ $1,205
Prepaid Expenses and Deferred Charges$4,394$5,658▲ $1,264
Cash and Non-Interest-Bearing Accounts$5,000$5,000→ $0
Accounts Receivable$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$9,949,333$9,654,491▼ $294,842
Other Assets Total$101,203$103,683▲ $2,480
Liabilities
Other Liabilities$8,901,520$8,607,603▼ $293,917
Accounts Payable and Accrued Expenses$22,532$17,983▼ $4,549
Total Liabilities$8,924,052$8,625,586▼ $298,466
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,025,281$1,028,905▲ $3,624
Total Liabilities and Net Assets / Fund Balance$9,949,333$9,654,491▼ $294,842

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$5,792$83,843$89,635
Buildings$0$0$0
Other Land Buildings$0$0$0
Land$0-$0
Leasehold Improvements$0$0$0
Other Securities$4,592,559--
Compensation and Service Providers
Top Officer Pay82nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Rebecca LindmanManagerFT$64,248$14,023$78,271

Board Members and Trustees

NameTitle
Russell PetersonPresident
Kirk MahrVice President
Janet KramerDirector
John PuchtelDirector
Ken PalmerDirector
Kathleen CareySecretary
Patricia A BrazierTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$167,674
Investment Income
$71,567
Other Revenue
$19,428
All Other Contributions
$0
Change in Net Assets
$3,624
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$147,989
Other Expenses$103,646
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---$64,248
Office Expenses---$50,469
Other Salaries and Wages---$49,693
Other Employee Benefits---$18,271
Occupancy---$17,700
Fees for Services Other---$16,415
Payroll Taxes---$9,024
Insurance---$8,262
Pension Plan Contributions---$6,753
Benefits to Members---$3,410
Depreciation Depletion---$2,705
Other Expenses---$2,129
Advertising---$1,407
Fees for Services Legal---$1,370
Conferences and Meetings---$1,287
Fees for Services Accounting---$1,277
Total Functional Expenses$0$0$0$255,045
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$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Members share accounts$8,302,180
Share Drafts$300,000
Christmas Club Accounts$5,423
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
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, Part VI, Section A, Line 6

“Line 6 Classes of members or stockholders the association has members, most of whom are former employees of a former Cooperative”

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

“Election of members and their rights by ballot, written notice mailed or handed to each member at least 10 days prior to the annual meeting where the results are reported”

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

“Decisions subject to approval of members decisions requiring approval by members include election of Board Members and Supervisory Committee, any amendments of the certificate of the organization and any proposed changes to the bylaws.”

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

“Organization's process to review Form 990 Supervisory Committee members assist management with the preparation and review of the tax return. Board and Committee members are presented with a draft copy of the Tax Return to review and ask questions prior to the finalization and filing. Board's approval of the tax return is documented with an action step in the minutes”

Form 990, Part VI, Section B, Line 12C

“Enforcement of Conflict of Interest Policy signed and completed by Board, Committees and employees annually, reviewed by Board annually.”

Form 990, Part VI, Section B, Line 15

“Compensation process for top officials reviewed by personnel committee which consists of three board members.”

Form 990, Part VI, Section C, Line 19

“Governing documents disclosure explanation 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 Ave NE Suite 200, Minneapolis, MN 55421

Signing Officer

Name
Rebecca Lindman
Title
Manager
Phone
7635721368
Signed
2018-05-10

Organization Details

Formed
1955
Legal Domicile
Mn
Voting Board Members
7
Independent Board Members
7
Employees
5
Volunteers
0
Raw XML AppendixShowing 400 of 406 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/ReconcilationRevenueExpnssAmt03624
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RelatedOrganizationsAmt00
IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
IRS990/ReportInvestmentsOtherSecInd01
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RoyaltiesRevenueGrp/ExclusionAmt00
IRS990/RoyaltiesRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RoyaltiesRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt01025281
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt01028905
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0577143
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0754808
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt00
IRS990ScheduleD/BuildingsGrp/DepreciationAmt00
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/EquipmentGrp/BookValueAmt05792
IRS990ScheduleD/EquipmentGrp/DepreciationAmt083843
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt089635
IRS990ScheduleD/LandGrp/BookValueAmt00
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt08302180
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1300000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt25423
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Members share accounts
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Share Drafts
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Christmas Club Accounts
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt04592559
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Certificates of Deposit
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0F
IRS990ScheduleD/TotalBookValueLandBuildingsAmt05792
IRS990ScheduleD/TotalBookValueSecuritiesAmt04592559
IRS990ScheduleD/TotalLiabilityAmt08607603
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Line 6 Classes of members or stockholders the association has members, most of whom are former employees of a former Cooperative
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Election of members and their rights by ballot, written notice mailed or handed to each member at least 10 days prior to the annual meeting where the results are reported
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Decisions subject to approval of members decisions requiring approval by members include election of Board Members and Supervisory Committee, any amendments of the certificate of the organization and any proposed changes to the bylaws.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Organization's process to review Form 990 Supervisory Committee members assist management with the preparation and review of the tax return. Board and Committee members are presented with a draft copy of the Tax Return to review and ask questions prior to the finalization and filing. Board's approval of the tax return is documented with an action step in the minutes
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Enforcement of Conflict of Interest Policy signed and completed by Board, Committees and employees annually, reviewed by Board annually.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Compensation process for top officials reviewed by personnel committee which consists of three board members.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Governing documents disclosure explanation available upon request at the office.
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 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Section B, Line 15
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/TotalAssetsBOYAmt09949333
IRS990/TotalAssetsEOYAmt09654491
IRS990/TotalAssetsGrp/BOYAmt09949333
IRS990/TotalAssetsGrp/EOYAmt09654491
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt05
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0255045
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt08924052
IRS990/TotalLiabilitiesEOYAmt08625586
IRS990/TotalLiabilitiesGrp/BOYAmt08924052
IRS990/TotalLiabilitiesGrp/EOYAmt08625586
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01025281
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01028905
IRS990/TotalOtherCompensationAmt014023
IRS990/TotalOtherProgSrvcExpenseAmt00
IRS990/TotalOtherProgSrvcGrantAmt00
IRS990/TotalOtherProgSrvcRevenueAmt00
IRS990/TotalOthProgramServiceRevGrp/ExclusionAmt00
IRS990/TotalOthProgramServiceRevGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt00
IRS990/TotalOthProgramServiceRevGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalProgramServiceExpensesAmt00
IRS990/TotalProgramServiceRevenueAmt0167674
IRS990/TotalReportableCompFromOrgAmt064248
IRS990/TotalRevenueGrp/ExclusionAmt071567
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0187102
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0258669
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt09949333
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt09654491
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationOtherInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt05210 Central Ave NE
IRS990/USAddress/AddressLine2Txt0Suite 200
IRS990/USAddress/CityNm0Minneapolis
IRS990/USAddress/StateAbbreviationCd0MN
IRS990/USAddress/ZIPCd055421
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0www.midlandcoopcu.com
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/PersonNm0Rebecca Lindman
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Manager
ReturnHeader/BusinessOfficerGrp/PhoneNum07635721368
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-05-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MIDLAND CO-OP CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0MIDL
ReturnHeader/Filer/EIN0410764721
ReturnHeader/Filer/PhoneNum07635721368
ReturnHeader/Filer/USAddress/AddressLine1Txt05210 Central Ave NE Suite 200
ReturnHeader/Filer/USAddress/CityNm0Minneapolis
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN
ReturnHeader/Filer/USAddress/ZIPCd055421

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$9,654,491
Liabilities
$8,625,586
Net assets
$1,028,905
Revenue
$258,669
Expenses
$255,045
Net income
$3,624
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