Civic Intelligence

Novation Credit Union

990 • Fiscal year 2012 • EIN 41-0800081

Jan 01, 2012 to Dec 31, 2012 • Filed on Nov 14, 2013

Organization Profilewww.novation.org

View Organization Page

500 Imperial Avenue55128-7151
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.

2012 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2012

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2012

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on this filing.

Source year 2012

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2012

Asset Growth

80th percentile

8.9%

Faster asset growth than 80% of similar nonprofits.

2012 filings • 501(c)14 • $50M-$100M nonprofits • Annualized from 2011 to 2012

Revenue Growth

Score unavailable

No value available

No valid filing value is available for this score.

Balance Sheet
Liabilities / Assets91st percentile

Assets

Up

$95,140,961

Up $7,789,430 (+8.9%) from 2011

Net Assets

Up

$7,321,612

Up $845,266 (+13%) from 2011

Liabilities

Up

$87,819,349

Up $6,944,164 (+8.6%) from 2011

Revenue And Expenses
Liabilities / RevenueScore unavailableNet MarginScore unavailable

Revenue

-

No earlier filing loaded for comparison.

Expenses

Down

$4,439,193

Down $294,248 (-6.2%) from 2011

Net Income

-

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth80th percentile

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

$300M$200M$100M$0Assets 2010: $84,303,545Liabilities 2010: $78,264,720Net Assets 2010: $6,038,8252010Assets 2011: $87,351,531Liabilities 2011: $80,875,185Net Assets 2011: $6,476,3462011Assets 2012: $95,140,961Liabilities 2012: $87,819,349Net Assets 2012: $7,321,6122012Assets 2013: $99,853,064Liabilities 2013: $91,768,218Net Assets 2013: $8,084,8462013Assets 2014: $106,603,209Liabilities 2014: $97,950,390Net Assets 2014: $8,652,8192014Assets 2015: $114,926,415Liabilities 2015: $105,482,739Net Assets 2015: $9,443,6762015Assets 2016: $128,141,947Liabilities 2016: $117,750,062Net Assets 2016: $10,391,8852016Assets 2017: $141,069,501Liabilities 2017: $129,872,701Net Assets 2017: $11,196,8002017Assets 2018: $144,238,783Liabilities 2018: $131,989,390Net Assets 2018: $12,249,3932018Assets 2019: $162,517,262Liabilities 2019: $149,342,417Net Assets 2019: $13,174,8452019Assets 2020: $192,998,558Liabilities 2020: $178,472,469Net Assets 2020: $14,526,0892020Assets 2021: $218,712,368Liabilities 2021: $201,872,845Net Assets 2021: $16,839,5232021Assets 2022: $224,719,719Liabilities 2022: $206,635,423Net Assets 2022: $18,084,2962022Assets 2023: $227,086,966Liabilities 2023: $207,444,417Net Assets 2023: $19,642,5492023Assets 2024: $232,490,083Liabilities 2024: $210,130,995Net Assets 2024: $22,359,0882024

Highlighted filing

2012

Assets$95,140,961
Liabilities$87,819,349
Net Assets$7,321,612
Open 2012 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$15M$10M$5.0M$0Expenses 2010: $5,136,2952010Revenue 2011: $5,170,962Expenses 2011: $4,733,441Net Income 2011: $437,5212011Expenses 2012: $4,439,1932012Revenue 2013: $5,114,348Expenses 2013: $4,351,114Net Income 2013: $763,2342013Revenue 2014: $5,188,948Expenses 2014: $4,620,975Net Income 2014: $567,9732014Revenue 2015: $5,552,361Expenses 2015: $4,761,504Net Income 2015: $790,8572015Revenue 2016: $6,242,543Expenses 2016: $5,294,334Net Income 2016: $948,2092016Revenue 2017: $6,403,714Expenses 2017: $5,598,799Net Income 2017: $804,9152017Revenue 2018: $7,079,455Expenses 2018: $6,026,862Net Income 2018: $1,052,5932018Revenue 2019: $8,044,478Expenses 2019: $7,119,026Net Income 2019: $925,4522019Revenue 2020: $8,298,506Expenses 2020: $6,947,262Net Income 2020: $1,351,2442020Revenue 2021: $8,796,633Expenses 2021: $6,483,200Net Income 2021: $2,313,4332021Revenue 2022: $9,264,760Expenses 2022: $7,323,942Net Income 2022: $1,940,8182022Revenue 2023: $11,293,465Expenses 2023: $9,770,324Net Income 2023: $1,523,1412023Revenue 2024: $13,474,710Expenses 2024: $10,934,887Net Income 2024: $2,539,8232024

Highlighted filing

2012

Revenue-
Expenses$4,439,193
Net Income-
Open 2012 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2012 to Dec 31, 2012
Signed
Nov 14, 2013
Return Version
2012v2.0
Gross Receipts
$5,284,459
Mission and Program Overview

Mission

Novation Credit Union is a not-for-profit financial cooperative providing 14,330 member owners with competitively priced financial solutions including real estate and consumer loans, credit cards, savings, checking, and investments. Additional services include ATM/Debit Cards, ATMs, Online Banking, Mobile Banking, Bill Pay and More.

Major Activities

Activity 2
Provided Savings and Investment opportunities, and Retirement Planning Services, including IRA's, at competitive rates to member owners (12,340 member owners).
Activity 3
Checking services that include ATM, Debit Cards, Direct Deposit, online banking, BillPay, and ACH to member owners (12,340 member owners).
Filing and Contact Details

Filer

EIN
41-0800081
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IRS990ScheduleO/GeneralExplanation/Explanation0Effective 1/01/12, Novation Credit Union entered into a Client Service Agreement with Doherty Employment Group, Inc. As a result, Doherty is the employer for the purpose of paying wages. Doherty also remits all taxes and files all returns under their name and EIN 41-1373641. Doherty is a PEO (Professional Employer Organization) and provides human resource services to their clients.
IRS990ScheduleO/GeneralExplanation/Explanation1Effective 1/01/12, Novation Credit Union entered into a Client Service Agreement with Doherty Employment Group, Inc. As a result, Doherty is the employer for the purpose of paying wages. Doherty also remits all taxes and files all returns under their name and EIN 41-1373641. Doherty is a PEO (Professional Employer Organization) and provides human resource services to their clients
IRS990ScheduleO/GeneralExplanation/Explanation2Effective 1/01/12, Novation Credit Union entered into a Client Service Agreement with Doherty Employment Group, Inc. As a result, Doherty is the employer for the purpose of paying wages. Doherty also remits all taxes and files all returns under their name and EIN 41-1373641. Doherty is a PEO (Professional Employer Organization) and provides human resource services to their clients.
IRS990ScheduleO/GeneralExplanation/Explanation3Credit Union with 12,340 member owners.
IRS990ScheduleO/GeneralExplanation/Explanation4Credit Union with 12,340 member owners elect the volunteer board members in an annual election.
IRS990ScheduleO/GeneralExplanation/Explanation5Certain provisions by Credit Union Bylaws require the approval of full membership.
IRS990ScheduleO/GeneralExplanation/Explanation6Form 990 is reviewed by management. Management and board discuss the process used to create the Form 990.
IRS990ScheduleO/GeneralExplanation/Explanation7A compensation committee reviews survey data and progress on credit union goals and recommends CEO compensation changes to the full board for approval. The CEO reviews survey data and progress on credit union goals in determining key employee and other employee compensation.
IRS990ScheduleO/GeneralExplanation/Explanation8Financial Statements are posted in the credit union lobby. Governing documents are available upon request.
IRS990ScheduleO/GeneralExplanation/Explanation9Effective 1/01/12, Novation Credit Union entered into a Client Service Agreement with Doherty Employment Group, Inc. As a result, Doherty is the employer for the purpose of paying wages. Doherty also remits all taxes and files all returns under their name and EIN 41-1373641. Doherty is a PEO (Professional Employer Organization) and provides human resource services to their clients.
IRS990ScheduleO/GeneralExplanation/Explanation10Effective 1/01/12, Novation Credit Union entered into a Client Service Agreement with Doherty Employment Group, Inc. As a result, Doherty is the employer for the purpose of paying wages. Doherty also remits all taxes and files all returns under their name and EIN 41-1373641. Doherty is a PEO (Professional Employer Organization) and provides human resource services to their clients.
IRS990ScheduleO/GeneralExplanation/Explanation11Effective 1/01/12, Novation Credit Union entered into a Client Service Agreement with Doherty Employment Group, Inc. As a result, Doherty is the employer for the purpose of paying wages. Doherty also remits all taxes and files all returns under their name and EIN 41-1373641. Doherty is a PEO (Professional Employer Organization) and provides human resource services to their clients.
IRS990ScheduleO/GeneralExplanation/Identifier0F990_P01_S00_L05
IRS990ScheduleO/GeneralExplanation/Identifier1F990_P05_S00_L02a
IRS990ScheduleO/GeneralExplanation/Identifier2F990_P05_S00_L02b
IRS990ScheduleO/GeneralExplanation/Identifier3F990_P06_S0A_L06
IRS990ScheduleO/GeneralExplanation/Identifier4F990_P06_S0A_L07a
IRS990ScheduleO/GeneralExplanation/Identifier5F990_P06_S0A_L07b
IRS990ScheduleO/GeneralExplanation/Identifier6F990_P06_S0B_L11b
IRS990ScheduleO/GeneralExplanation/Identifier7F990_P06_S0B_L15
IRS990ScheduleO/GeneralExplanation/Identifier8F990_P06_S0C_L19
IRS990ScheduleO/GeneralExplanation/Identifier9F990_P09_S00_L07
IRS990ScheduleO/GeneralExplanation/Identifier10F990_P09_S00_L10
IRS990ScheduleO/GeneralExplanation/Identifier11F990_P09_S00_L24a
IRS990ScheduleO/GeneralExplanation/ReturnReference0Form 990, Part I, Line 5
IRS990ScheduleO/GeneralExplanation/ReturnReference1Form 990, Part V, Line 2a
IRS990ScheduleO/GeneralExplanation/ReturnReference2Form 990, Part V, Line 2b
IRS990ScheduleO/GeneralExplanation/ReturnReference3Form 990, Part VI, Section A, Line 6
IRS990ScheduleO/GeneralExplanation/ReturnReference4Form 990, Part VI, Section A, Line 7a
IRS990ScheduleO/GeneralExplanation/ReturnReference5Form 990, Part VI, Section A, Line 7b
IRS990ScheduleO/GeneralExplanation/ReturnReference6Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/GeneralExplanation/ReturnReference7Form 990, Part VI, Section B, Line 15
IRS990ScheduleO/GeneralExplanation/ReturnReference8Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/GeneralExplanation/ReturnReference9Form 990, Part IX, Line 7
IRS990ScheduleO/GeneralExplanation/ReturnReference10Form 990, Part IX, Line 10
IRS990ScheduleO/GeneralExplanation/ReturnReference11Form 990, Part IX, Line 24a - 24e
IRS990/ScheduleORequired01
IRS990/School00
IRS990/SignificantChange00
IRS990/SignificantNewProgramServices00
IRS990/StateLegalDomicile0MN
IRS990/StatesWhereCopyOfReturnIsFiled0MN
IRS990/SubjectToProxyTax00
IRS990/TaxablePartyNotification00

Document Assets

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Filings

Displayed year

2012 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$95,140,961
Liabilities
$87,819,349
Net assets
$7,321,612
Revenue
-
Expenses
$4,439,193
Net income
-
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$232$210$22.4$13.5$10.9$2.54
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$227$207$19.6$11.3$9.77$1.52
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$225$207$18.1$9.26$7.32$1.94
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$219$202$16.8$8.80$6.48$2.31
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$193$178$14.5$8.30$6.95$1.35
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$163$149$13.2$8.04$7.12$0.93
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$144$132$12.2$7.08$6.03$1.05
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$141$130$11.2$6.40$5.60$0.80
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$128$118$10.4$6.24$5.29$0.95
2015Detailed filing. Detailed filing data is available for this year.$115$105$9.44$5.55$4.76$0.79
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$107$98.0$8.65$5.19$4.62$0.57
2013Detailed filing. Detailed filing data is available for this year.$99.9$91.8$8.08$5.11$4.35$0.76
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$95.1$87.8$7.32$4.44
2011Summary only. Only limited summary data is available for this year.$87.4$80.9$6.48$5.17$4.73$0.44
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$84.3$78.3$6.04$5.14
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