Liabilities / Assets
86th percentile
Higher debt load relative to assets than 86% of similar nonprofits.
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.92x
Liabilities / Revenue
44th percentile
Higher debt load relative to revenue than 44% of similar nonprofits.
Net Margin
76th percentile
Higher net margin than 76% of similar nonprofits.
Top Officer Pay
99th percentile
Higher top officer pay than 99% of similar nonprofits.
Top officer pay equals 11.4% of source-year revenue.
Asset Growth
74th percentile
Faster asset growth than 74% of similar nonprofits.
Revenue Growth
32nd percentile
Faster revenue growth than 32% of similar nonprofits.
Balance Sheet
Assets
Up$99,853,064
Up $4,712,103 (+5.0%) from 2012
Net Assets
Up$8,084,846
Up $763,234 (+10%) from 2012
Liabilities
Up$91,768,218
Up $3,948,869 (+4.5%) from 2012
Revenue And Expenses
Revenue
$5,114,348
No earlier filing loaded for comparison.
Expenses
Down$4,351,114
Down $88,079 (-2.0%) from 2012
Net Income
$763,234
No earlier filing loaded for comparison.
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jan 1, 2013 to Dec 31, 2013
- Signed
- Nov 13, 2014
- Return Version
- 2013v3.0
- Gross Receipts
- $5,114,348
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.
Novation Credit Union is a not-for-profit financial cooperative providing 12,738 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.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Other Notes and Loans Receivable, Net | $66,560,842 | $75,295,422 | ▲ $8,734,580 |
| Savings and Temporary Cash Investments | $20,921,099 | $16,214,726 | ▼ $4,706,373 |
| Rtn Earn Endowment Incm Other Fnds | $7,321,612 | $8,084,846 | ▲ $763,234 |
| Land, Buildings, and Equipment, Net | $3,030,140 | $2,980,853 | ▼ $49,287 |
| Cash and Non-Interest-Bearing Accounts | $1,333,805 | $1,820,151 | ▲ $486,346 |
| Prepaid Expenses and Deferred Charges | $391,581 | $452,014 | ▲ $60,433 |
| Pd in Cap Srpls Land Bldg Eqp Fund | $0 | $0 | → $0 |
| Cap Stk Tr Prin Current Funds | $0 | $0 | → $0 |
| Loans From Officers Directors | $0 | $0 | → $0 |
| Total Assets | $95,140,961 | $99,853,064 | ▲ $4,712,103 |
| Other Assets Total | $2,903,494 | $3,089,898 | ▲ $186,404 |
| Liabilities | |||
| Other Liabilities | $86,974,385 | $91,199,125 | ▲ $4,224,740 |
| Accounts Payable and Accrued Expenses | $844,964 | $569,093 | ▼ $275,871 |
| Grants Payable | $0 | $0 | → $0 |
| Mortgage Notes Payable Secured by Investment Property | $0 | $0 | → $0 |
| Unsecured Notes Loans Payable | $0 | $0 | → $0 |
| Deferred Revenue | $0 | $0 | → $0 |
| Escrow Account Liability | $0 | $0 | → $0 |
| Tax Exempt Bond Liabilities | $0 | $0 | → $0 |
| Total Liabilities | $87,819,349 | $91,768,218 | ▲ $3,948,869 |
| Net Assets / Fund Balance | |||
| Total Net Assets Fund Balance | $7,321,612 | $8,084,846 | ▲ $763,234 |
| Total Liabilities and Net Assets / Fund Balance | $95,140,961 | $99,853,064 | ▲ $4,712,103 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Buildings | $1,738,950 | $1,305,637 | $3,044,587 |
| Equipment | $198,291 | $1,465,482 | $1,663,773 |
| Land | $899,956 | - | $899,956 |
| Other Land Buildings | $57,627 | $67,270 | $124,897 |
| Leasehold Improvements | $86,029 | $25,216 | $111,245 |
Compensation and Service Providers
Employees
| Name | Title | Full / Part Time | Base | Other | Total |
|---|---|---|---|---|---|
| Kristi Mukomela | President | FT | $470,715 | $97,747 | $568,462 |
| Sharon Hansen | Chief Financial Officer | FT | $96,662 | $31,811 | $128,473 |
| Dolf Moon | Chairman | - | $1,200 | - | $1,200 |
| Matt Juhl | Board Member | - | $1,200 | - | $1,200 |
| Ken Bozevich | Board Member | - | $1,100 | - | $1,100 |
| Thomas Hangge | Board Member | - | $1,100 | - | $1,100 |
| John McNamara | Board Member | - | $1,000 | - | $1,000 |
| Rhonda Graves | Board Member | - | $1,000 | - | $1,000 |
| Shawn Schow | Board Member | - | $1,000 | - | $1,000 |
| Mary Edinger | Board Member | - | $800 | - | $800 |
| Dan Carlson | Board Member | - | $600 | - | $600 |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $0
- Program Service Revenue
- $4,953,980
- Investment Income
- $160,368
- Other Revenue
- $0
- Change in Net Assets
- $763,234
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Other Expenses | $3,705,698 |
| Salaries, Compensation, and Employee Benefits | $366,429 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Other Expenses | - | - | - | $452,338 |
| Information Technology | - | - | - | $362,622 |
| Benefits to Members | - | - | - | $278,987 |
| Occupancy | - | - | - | $260,223 |
| Depreciation Depletion | - | - | - | $213,488 |
| Other Employee Benefits | - | - | - | $175,407 |
| Office Expenses | - | - | - | $141,687 |
| All Other Expenses | - | - | - | $114,375 |
| Payroll Taxes | - | - | - | $113,545 |
| Advertising | - | - | - | $101,719 |
| Pension Plan Contributions | - | - | - | $68,377 |
| Insurance | - | - | - | $37,732 |
| Fees for Services Accounting | - | - | - | $21,570 |
| Travel | - | - | - | $10,197 |
| Current Officers, Directors, Trustees, and Key Employees | - | - | - | $9,100 |
| Conferences and Meetings | - | - | - | $7,229 |
| Interest | - | - | - | $403 |
| Total Functional Expenses | $0 | $0 | $0 | $4,351,114 |
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
Insider Transactions and Loans
Loans and Receivables
| Line Item | Beginning | End | Change |
|---|---|---|---|
| Loans from Officers, Directors, Trustees, and Key Employees | $0 | $0 | → $0 |
Debt and Bond Financing
Other Reported Liabilities
| Liability | Amount |
|---|---|
| Checking accounts | $33,068,954 |
| All other Shares and Deposits | $31,029,622 |
| Regular shares | $27,100,549 |
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
“Credit Union with 12,738 member owners.”
Form 990, Part VI, Section A, Line 7A
“Credit Union with 12,738 member owners elect the volunteer board members in an annual election.”
Form 990, Part VI, Section A, Line 7B
“Certain provisions by Credit Union Bylaws require the approval of full membership.”
Form 990, Part VI, Section B, Line 11B
“Form 990 is reviewed by management. Management and board discuss the process used to create the Form 990.”
Form 990, Part VI, Section B, Line 15
“A 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.”
Form 990, Part VI, Section C, Line 19
“Financial Statements are posted in the credit union lobby. Governing documents are available upon request.”
Filing and Contact Details
Filer
- EIN
- 41-0800081
- Phone
- 6517398080
Signing Officer
- Name
- Sharon Hansen
- Title
- CFO
- Phone
- 6517398080
- Signed
- 2014-11-13
Organization Details
- Principal Officer
- Kristi Mukomela
- Formed
- 1954
- Legal Domicile
- Mn
- Voting Board Members
- 9
- Independent Board Members
- 9
- Employees
- 30
- Volunteers
- 0
Supplemental Narrative
Additional Explanations
Form 990, Part I, Line 5
“Effective 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.”
Form 990, Part V, Line 2A
“Effective 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.”
Form 990, Part V, Line 2B
“Effective 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.”
Form 990, Part IX, Line 7
“Effective 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.”
Form 990, Part IX, Line 10
“Effective 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.”
Form 990, Part IX, Line 24A - 24D
“Effective 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.”
Raw XML AppendixShowing 400 of 495 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/BooksInCareOfDetail/USAddress/City | 0 | Oakdale |
| IRS990/BooksInCareOfDetail/USAddress/State | 0 | MN |
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| IRS990/Desc | 0 | Provided over 1,300 Vehicle, Home Equity, 1st Mortgages and other loans for over $24 million to member owners (12,378 member owners). |
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| IRS990/GrantsToIndividualsInd | 0 | 0 |
| IRS990/GrantsToOrganizationsInd | 0 | 0 |
| IRS990/GrantToRelatedPersonInd | 0 | 0 |
| IRS990/GrossReceiptsAmt | 0 | 5114348 |
| IRS990/GroupExemptionNum | 0 | 0708 |
| IRS990/GroupReturnForAffiliatesInd | 0 | 0 |
| IRS990/IncludeFIN48FootnoteInd | 0 | 0 |
| IRS990/IncmFromInvestBondProceedsGrp/ExclusionAmt | 0 | 0 |
| IRS990/IncmFromInvestBondProceedsGrp/RelatedOrExemptFuncIncomeAmt | 0 | 0 |
| IRS990/IncmFromInvestBondProceedsGrp/TotalRevenueColumnAmt | 0 | 0 |
| IRS990/IncmFromInvestBondProceedsGrp/UnrelatedBusinessRevenueAmt | 0 | 0 |
| IRS990/IndependentAuditFinclStmtInd | 0 | 0 |
| IRS990/IndependentVotingMemberCnt | 0 | 9 |
| IRS990/IndivRcvdGreaterThan100KCnt | 0 | 1 |
| IRS990/IndoorTanningServicesInd | 0 | 0 |
| IRS990/InfoInScheduleOPartIXInd | 0 | X |
| IRS990/InfoInScheduleOPartVIInd | 0 | X |
| IRS990/InfoInScheduleOPartVInd | 0 | X |
| IRS990/InformationTechnologyGrp/TotalAmt | 0 | 362622 |
| IRS990/InsuranceGrp/TotalAmt | 0 | 37732 |
| IRS990/InterestGrp/TotalAmt | 0 | 403 |
| IRS990/InvestmentExpenseAmt | 0 | 0 |
| IRS990/InvestmentIncomeGrp/ExclusionAmt | 0 | 0 |
| IRS990/InvestmentIncomeGrp/RelatedOrExemptFuncIncomeAmt | 0 | 160368 |
| IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt | 0 | 160368 |
| IRS990/InvestmentIncomeGrp/UnrelatedBusinessRevenueAmt | 0 | 0 |
| IRS990/InvestmentInJointVentureInd | 0 | 0 |
| IRS990/IRPDocumentCnt | 0 | 3111 |
| IRS990/IRPDocumentW2GCnt | 0 | 0 |
| IRS990/LandBldgEquipAccumDeprecAmt | 0 | 2863605 |
| IRS990/LandBldgEquipBasisNetGrp/BOYAmt | 0 | 3030140 |
| IRS990/LandBldgEquipBasisNetGrp/EOYAmt | 0 | 2980853 |
| IRS990/LandBldgEquipCostOrOtherBssAmt | 0 | 5844458 |
| IRS990/LegalDomicileStateCd | 0 | MN |
| IRS990/LoanOutstandingInd | 0 | 0 |
| IRS990/LoansFromOfficersDirectorsGrp/BOYAmt | 0 | 0 |
| IRS990/LoansFromOfficersDirectorsGrp/EOYAmt | 0 | 0 |
| IRS990/LocalChaptersInd | 0 | 0 |
| IRS990/MaterialDiversionOrMisuseInd | 0 | 0 |
| IRS990/MembersOrStockholdersInd | 0 | 1 |
| IRS990/MethodOfAccountingAccrualInd | 0 | X |
| IRS990/MinutesOfCommitteesInd | 0 | 1 |
| IRS990/MinutesOfGoverningBodyInd | 0 | 1 |
| IRS990/MissionDesc | 0 | Novation Credit Union is a not-for-profit financial cooperative providing 12,738 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. |
| IRS990/MoreThan5000KToIndividualsInd | 0 | 0 |
| IRS990/MoreThan5000KToOrgInd | 0 | 0 |
| IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt | 0 | 0 |
| IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt | 0 | 0 |
| IRS990/NetAssetsOrFundBalancesBOYAmt | 0 | 7321612 |
| IRS990/NetAssetsOrFundBalancesEOYAmt | 0 | 8084846 |
| IRS990/NetUnrelatedBusTxblIncmAmt | 0 | -5620 |
| IRS990/NetUnrlzdGainsLossesInvstAmt | 0 | 0 |
| IRS990/NondeductibleContributionsInd | 0 | 0 |
| IRS990/OccupancyGrp/TotalAmt | 0 | 260223 |
| IRS990/OfficeExpensesGrp/TotalAmt | 0 | 141687 |
| IRS990/OfficerMailingAddressInd | 0 | 0 |
| IRS990/OperateHospitalInd | 0 | 0 |
| IRS990/Organization501cInd | 0 | X |
| IRS990/OrgDoesNotFollowSFAS117Ind | 0 | X |
| IRS990/OtherAssetsTotalGrp/BOYAmt | 0 | 2903494 |
| IRS990/OtherAssetsTotalGrp/EOYAmt | 0 | 3089898 |
| IRS990/OtherChangesInNetAssetsAmt | 0 | 0 |
| IRS990/OtherEmployeeBenefitsGrp/TotalAmt | 0 | 175407 |
| IRS990/OtherExpensesGrp/Desc | 0 | Doherty Employment Group Service Fees |
| IRS990/OtherExpensesGrp/Desc | 1 | ATM/debit card and machine expense |
| IRS990/OtherExpensesGrp/Desc | 2 | NCUA premium assessment/stabilization |
| IRS990/OtherExpensesGrp/Desc | 3 | Loan Servicing including loan loss provision |
| IRS990/OtherExpensesGrp/TotalAmt | 0 | 1431906 |
| IRS990/OtherExpensesGrp/TotalAmt | 1 | 472928 |
| IRS990/OtherExpensesGrp/TotalAmt | 2 | 77281 |
| IRS990/OtherExpensesGrp/TotalAmt | 3 | 452338 |
| IRS990/OtherLiabilitiesGrp/BOYAmt | 0 | 86974385 |
| IRS990/OtherLiabilitiesGrp/EOYAmt | 0 | 91199125 |
| IRS990/OtherOrganizationDsc | 0 | Cooperative |
| IRS990/OtherRevenueTotalAmt | 0 | 0 |
| IRS990/OtherSalariesAndWagesGrp/TotalAmt | 0 | 0 |
| IRS990/OthNotesLoansReceivableNetGrp/BOYAmt | 0 | 66560842 |
| IRS990/OthNotesLoansReceivableNetGrp/EOYAmt | 0 | 75295422 |
| IRS990/PartialLiquidationInd | 0 | 0 |
| IRS990/PaymentsToAffiliatesGrp/TotalAmt | 0 | 0 |
| IRS990/PayrollTaxesGrp/TotalAmt | 0 | 113545 |
| IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt | 0 | 0 |
| IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt | 0 | 0 |
| IRS990/PensionPlanContributionsGrp/TotalAmt | 0 | 68377 |
| IRS990/PoliticalCampaignActyInd | 0 | 0 |
| IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt | 0 | 391581 |
| IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt | 0 | 452014 |
| IRS990/PrincipalOfficerNm | 0 | Kristi Mukomela |
| IRS990/PriorPeriodAdjustmentsAmt | 0 | 0 |
| IRS990/ProfessionalFundraisingInd | 0 | 0 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 0 | 522291 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 1 | 522291 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 2 | 523000 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 3 | 524298 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 4 | 522100 |
| IRS990/ProgramServiceRevenueGrp/Desc | 0 | Real Estate Lending |
| IRS990/ProgramServiceRevenueGrp/Desc | 1 | Consumer Lending |
| IRS990/ProgramServiceRevenueGrp/Desc | 2 | Investment Center |
| IRS990/ProgramServiceRevenueGrp/Desc | 3 | Insurance related activities |
| IRS990/ProgramServiceRevenueGrp/Desc | 4 | Depository Credit Intermediation |
| IRS990/ProgramServiceRevenueGrp/ExclusionAmt | 0 | 0 |
| IRS990/ProgramServiceRevenueGrp/ExclusionAmt | 1 | 0 |
| IRS990/ProgramServiceRevenueGrp/ExclusionAmt | 2 | 0 |
| IRS990/ProgramServiceRevenueGrp/ExclusionAmt | 3 | 0 |
| IRS990/ProgramServiceRevenueGrp/ExclusionAmt | 4 | 0 |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 1788891 |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 1 | 1438554 |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 2 | 288601 |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 3 | 34302 |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 4 | 1359995 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 0 | 1788891 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 1 | 1438554 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 2 | 288601 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 3 | 42151 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 4 | 1395783 |
| IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt | 0 | 0 |
| IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt | 1 | 0 |
| IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt | 2 | 0 |
| IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt | 3 | 7849 |
| IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt | 4 | 35788 |
| IRS990/ProgSrvcAccomActy2Grp/Desc | 0 | Provided Savings and Investment opportunities, and Retirement Planning Services, including IRA's, at competitive rates to member owners (12,378 member owners). |
| IRS990/ProgSrvcAccomActy3Grp/Desc | 0 | Checking services that include ATM, Debit Cards, Direct Deposit, online banking, BillPay, and ACH to member owners (12,378 member owners). |
| IRS990/ProgSrvcAccomActyOtherGrp/Desc | 0 | Credit Union Programs: Other Banking Services - Prepaid Travel & Gift Cards, Money Orders, and Wire Transfers - to member owners. (12,738 member owners) |
| IRS990/ProhibitedTaxShelterTransInd | 0 | 0 |
| IRS990/PYBenefitsPaidToMembersAmt | 0 | 313280 |
| IRS990/PYContributionsGrantsAmt | 0 | 0 |
| IRS990/PYGrantsAndSimilarPaidAmt | 0 | 0 |
| IRS990/PYInvestmentIncomeAmt | 0 | 185554 |
| IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt | 0 | 0 |
| IRS990/PYOtherExpensesAmt | 0 | 3760232 |
| IRS990/PYOtherRevenueAmt | 0 | 0 |
| IRS990/PYProgramServiceRevenueAmt | 0 | 5098905 |
| IRS990/PYRevenuesLessExpensesAmt | 0 | 845266 |
| IRS990/PYSalariesCompEmpBnftPaidAmt | 0 | 365681 |
| IRS990/PYTotalExpensesAmt | 0 | 4439193 |
| IRS990/PYTotalProfFndrsngExpnsAmt | 0 | 0 |
| IRS990/PYTotalRevenueAmt | 0 | 5284459 |
| IRS990/ReconcilationRevenueExpnssAmt | 0 | 763234 |
| IRS990/RelatedEntityInd | 0 | 0 |
| IRS990/RelatedOrganizationCtrlEntInd | 0 | 0 |
| IRS990/RentalIncomeOrLossGrp/PersonalAmt | 0 | 0 |
| IRS990/RentalIncomeOrLossGrp/RealAmt | 0 | 0 |
| IRS990/ReportInvestmentsOtherSecInd | 0 | 0 |
| IRS990/ReportLandBuildingEquipmentInd | 0 | 1 |
| IRS990/ReportOtherAssetsInd | 0 | 0 |
| IRS990/ReportOtherLiabilitiesInd | 0 | 1 |
| IRS990/ReportProgramRelatedInvstInd | 0 | 0 |
| IRS990/RoyaltiesGrp/TotalAmt | 0 | 0 |
| IRS990/RoyaltiesRevenueGrp/ExclusionAmt | 0 | 0 |
| IRS990/RoyaltiesRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 0 |
| IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt | 0 | 0 |
| IRS990/RoyaltiesRevenueGrp/UnrelatedBusinessRevenueAmt | 0 | 0 |
| IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt | 0 | 7321612 |
| IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt | 0 | 8084846 |
| IRS990/SavingsAndTempCashInvstGrp/BOYAmt | 0 | 20921099 |
| IRS990/SavingsAndTempCashInvstGrp/EOYAmt | 0 | 16214726 |
| IRS990/ScheduleBRequiredInd | 0 | 0 |
| IRS990ScheduleD/BuildingsGrp/BookValueAmt | 0 | 1738950 |
| IRS990ScheduleD/BuildingsGrp/DepreciationAmt | 0 | 1305637 |
| IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt | 0 | 0 |
| IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt | 0 | 3044587 |
| IRS990ScheduleD/EquipmentGrp/BookValueAmt | 0 | 198291 |
| IRS990ScheduleD/EquipmentGrp/DepreciationAmt | 0 | 1465482 |
| IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt | 0 | 0 |
| IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt | 0 | 1663773 |
| IRS990ScheduleD/LandGrp/BookValueAmt | 0 | 899956 |
| IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt | 0 | 0 |
| IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt | 0 | 899956 |
| IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt | 0 | 86029 |
| IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt | 0 | 25216 |
| IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt | 0 | 0 |
| IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt | 0 | 111245 |
| IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt | 0 | 57627 |
| IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt | 0 | 67270 |
| IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt | 0 | 0 |
| IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt | 0 | 124897 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 0 | 27100549 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 1 | 33068954 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 2 | 31029622 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 0 | Regular shares |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 1 | Checking accounts |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 2 | All other Shares and Deposits |
| IRS990ScheduleD/TotalBookValueLandBuildingsAmt | 0 | 2980853 |
| IRS990ScheduleD/TotalLiabilityAmt | 0 | 91199125 |
| IRS990ScheduleJ/BoardOrCommitteeApprovalInd | 0 | X |
| IRS990ScheduleJ/CompensationCommitteeInd | 0 | X |
| IRS990ScheduleJ/CompensationSurveyInd | 0 | X |
| IRS990ScheduleJ/EquityBasedCompArrngmInd | 0 | 0 |
| IRS990/ScheduleJRequiredInd | 0 | 1 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt | 0 | 470715 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount | 0 | 18672 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt | 0 | 325000 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt | 0 | 79075 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm | 0 | Kristi Mukomela |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt | 0 | President |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt | 0 | 568462 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt | 0 | 0 |
| IRS990ScheduleJ/SeverancePaymentInd | 0 | 0 |
| IRS990ScheduleJ/SupplementalNonqualRtrPlanInd | 0 | 0 |
| IRS990/ScheduleORequiredInd | 0 | 1 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | Effective 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/SupplementalInformationDetail/ExplanationTxt | 1 | Effective 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/SupplementalInformationDetail/ExplanationTxt | 2 | Effective 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/SupplementalInformationDetail/ExplanationTxt | 3 | Credit Union with 12,738 member owners. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | Credit Union with 12,738 member owners elect the volunteer board members in an annual election. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 5 | Certain provisions by Credit Union Bylaws require the approval of full membership. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 6 | Form 990 is reviewed by management. Management and board discuss the process used to create the Form 990. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 7 | A 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/SupplementalInformationDetail/ExplanationTxt | 8 | Financial Statements are posted in the credit union lobby. Governing documents are available upon request. |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2013 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $99,853,064
- Liabilities
- $91,768,218
- Net assets
- $8,084,846
- Revenue
- $5,114,348
- Expenses
- $4,351,114
- Net income
- $763,234