Civic Intelligence

Employees First Credit Union

990 • Fiscal year 2014 • EIN 41-0909796

Jan 01, 2014 to Dec 31, 2014 • Filed on Mar 26, 2015

Organization ProfileWWW.SAVEWITHEMPLOYEESFIRSTCU.COM

View Organization Page

2250 Wabash AveSt Paul, MN 55114

(651) 641-4230

Siviq Scores

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

Liabilities / Assets

21st percentile

0.81x

Higher debt load relative to assets than 21% of similar nonprofits.

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

Liabilities / Revenue

12th percentile

8.96x

Higher debt load relative to revenue than 12% of similar nonprofits.

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

Net Margin

97th percentile

31%

Higher net margin than 97% of similar nonprofits.

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

Top Officer Pay

100th percentile

$375,839

Higher top officer pay than 100% of similar nonprofits.

Top officer pay equals 21.0% of source-year revenue.

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

Asset Growth

99th percentile

24%

Faster asset growth than 99% of similar nonprofits.

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

Revenue Growth

96th percentile

17%

Faster revenue growth than 96% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets21st percentile

Assets

Up

$19,864,724

Up $3,808,417 (+24%) from 2013

Net Assets

Up

$3,859,900

Up $552,378 (+17%) from 2013

Liabilities

Up

$16,004,824

Up $3,256,039 (+26%) from 2013

Revenue And Expenses
Liabilities / Revenue12th percentileNet Margin97th percentile

Revenue

Up

$1,786,869

Up $256,803 (+17%) from 2013

Expenses

Down

$1,234,491

Down $292,950 (-19%) from 2013

Net Income

Up

$552,378

Up $549,753 (+20943%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth99th percentile

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

$20M$15M$10M$5.0M$0Assets 2010: $10,423,393Liabilities 2010: $7,128,357Net Assets 2010: $3,295,0362010Assets 2011: $11,873,779Liabilities 2011: $8,572,140Net Assets 2011: $3,301,6392011Assets 2012: $12,880,290Liabilities 2012: $9,575,393Net Assets 2012: $3,304,8972012Assets 2013: $16,056,307Liabilities 2013: $12,748,785Net Assets 2013: $3,307,5222013Assets 2014: $19,864,724Liabilities 2014: $16,004,824Net Assets 2014: $3,859,9002014Assets 2015: $19,602,438Liabilities 2015: $13,565,636Net Assets 2015: $6,036,8022015Assets 2016: $0Liabilities 2016: $0Net Assets 2016: $02016

Highlighted filing

2014

Assets$19,864,724
Liabilities$16,004,824
Net Assets$3,859,900
Open 2014 Filing

Operations Trend

Revenue Growth96th percentile

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

$4.0M$2.0M$0-$2.0M-$4.0MExpenses 2010: $804,7492010Expenses 2011: $1,156,7102011Revenue 2012: $1,306,495Expenses 2012: $1,303,237Net Income 2012: $3,2582012Revenue 2013: $1,530,066Expenses 2013: $1,527,441Net Income 2013: $2,6252013Revenue 2014: $1,786,869Expenses 2014: $1,234,491Net Income 2014: $552,3782014Revenue 2015: $1,700,281Expenses 2015: $800,039Net Income 2015: $900,2422015Revenue 2016: $1,026,024Expenses 2016: $3,868,290Net Income 2016: -$2,842,2662016

Highlighted filing

2014

Revenue$1,786,869
Expenses$1,234,491
Net Income$552,378
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Mar 26, 2015
Return Version
2014v5.0
Gross Receipts
$1,786,869
Mission and Program Overview

Mission

To provide members with quality financial service.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$11,903,421$13,559,967▲ $1,656,546
Savings and Temporary Cash Investments$2,312,497$4,381,459▲ $2,068,962
Rtn Earn Endowment Incm Other Fnds$3,307,522$3,859,900▲ $552,378
Investments Program Related$1,487,478$1,631,926▲ $144,448
Cash and Non-Interest-Bearing Accounts$113,011$165,146▲ $52,135
Prepaid Expenses and Deferred Charges$140,446--
Total Assets$16,056,307$19,864,724▲ $3,808,417
Other Assets Total$99,454$126,226▲ $26,772
Liabilities
Other Liabilities$11,918,947$14,878,682▲ $2,959,735
Accounts Payable and Accrued Expenses$829,838$1,126,142▲ $296,304
Total Liabilities$12,748,785$16,004,824▲ $3,256,039
Net Assets / Fund Balance
Total Net Assets Fund Balance$3,307,522$3,859,900▲ $552,378
Total Liabilities and Net Assets / Fund Balance$16,056,307$19,864,724▲ $3,808,417

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$9,309--
Compensation and Service Providers
Top Officer Pay100th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
James CarrierPresidentFT$196,843$178,996$375,839
Kay WestlundVice PresideFT$61,190$58,547$119,737
Mary VatneSecretary-$560-$560
Terry LeisChair-$560-$560
Thomas ReiderVice Chair-$560-$560
Gregory AndersonDirector-$480-$480
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,747,251
Investment Income
$38,569
Other Revenue
$1,049
Change in Net Assets
$552,378
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$868,884
Other Expenses$365,607
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Employee Benefits---$444,431
Current Officers, Directors, Trustees, and Key Employees---$260,193
Office Expenses---$235,661
Pension Plan Contributions---$71,963
Other Salaries and Wages---$71,638
Payroll Taxes---$20,659
Other Expenses---$16,000
Insurance---$12,282
Interest---$512
Total Functional Expenses$0$0$0$1,234,491
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
Member Shares & Deposits$14,878,682
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
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, Page 6, Part VI, Line 6

“The organization has members. To be a member, you 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

“Management provides the information to independent cpa who prepares the return. Management reviews the return for accuracy, and then authorizes cpa to e-file the 990. Management reviews the filed return with the board at their next meeting.”

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

“The ceo, president, or top management officials receive an annular review by the board of directors. The board approvess the salaries and this approval is documented in the board minutes.”

Form 990, Page 6, Part VI, Line 19

“Governing documents are made available to members upon request.”

Filing and Contact Details

Filer

Filer Name
Employees First Credit Union
EIN
41-0909796
Phone
6516414230
Address
2250 WABASH AVE, ST PAUL, MN 55114

Signing Officer

Name
James Carrier
Title
President
Phone
6516414230
Signed
2015-03-26

Organization Details

Principal Officer
James Carrier
Formed
1967
Legal Domicile
Mn
Voting Board Members
5
Independent Board Members
4
Employees
5
Volunteers
7

Preparer

Preparer
Brent Wookey CPA
Raw XML Appendix306 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.

Path#Value
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IRS990/BooksInCareOfDetail/PhoneNum06516414320
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IRS990/BooksInCareOfDetail/USAddress/CityNm0ST PAUL
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IRS990/BooksInCareOfDetail/USAddress/ZIPCd055114
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IRS990/Form990PartVIISectionAGrp/TitleTxt1CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt3VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5VICE PRESIDE
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IRS990/GrantToRelatedPersonInd0false
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IRS990/IncludeFIN48FootnoteInd0false
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IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InsuranceGrp/TotalAmt012282
IRS990/InterestGrp/TotalAmt0512
IRS990/InvestmentIncomeGrp/ExclusionAmt038569
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt038569
IRS990/InvestmentInJointVentureInd0false
IRS990/InvestmentsProgramRelatedGrp/BOYAmt01487478
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IRS990/IRPDocumentCnt0170
IRS990/IRPDocumentW2GCnt00
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IRS990/LoanOutstandingInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0true
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0TO PROVIDE MEMBERS WITH QUALITY FINANCIAL SERVICE.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
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IRS990/NetUnrelatedBusTxblIncmAmt01142
IRS990/NondeductibleContributionsInd0false
IRS990/OfficeExpensesGrp/TotalAmt0235661
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
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IRS990/OtherExpensesGrp/Desc1PROV FOR LOAN LOSS EXP
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IRS990/OtherExpensesGrp/TotalAmt116000
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IRS990/PrincipalOfficerNm0JAMES CARRIER
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IRS990/ProgramServiceRevenueGrp/Desc2AUTO WARRANTY REVENUE
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt31850
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS MEMBERS. TO BE A MEMBER, YOU MUST HAVE A SHARE (SAVINGS) ACCOUNT AT THE CREDIT UNION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD OF DIRECTORS IS ELECTED BY THE CREDIT UNION MEMBERS. EACH MEMBER HAS ONE VOTE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A 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/ExplanationTxt3MANAGEMENT PROVIDES THE INFORMATION TO INDEPENDENT CPA WHO PREPARES THE RETURN. MANAGEMENT REVIEWS THE RETURN FOR ACCURACY, AND THEN AUTHORIZES CPA TO E-FILE THE 990. MANAGEMENT REVIEWS THE FILED RETURN WITH THE BOARD AT THEIR NEXT MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE CEO, PRESIDENT, OR TOP MANAGEMENT OFFICIALS RECEIVE AN ANNULAR REVIEW BY THE BOARD OF DIRECTORS. THE BOARD APPROVESS THE SALARIES AND THIS APPROVAL IS DOCUMENTED IN THE BOARD MINUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5GOVERNING DOCUMENTS ARE MADE AVAILABLE TO MEMBERS UPON REQUEST.
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 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
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IRS990/TotalGrossUBIAmt07375
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IRS990/TotalReportableCompFromOrgAmt0260193
IRS990/TotalRevenueGrp/ExclusionAmt039618
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01739876
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01786869
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt07375
IRS990/TotalVolunteersCnt07
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt016056307
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt019864724
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0true
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02250 WABASH AVE
IRS990/USAddress/CityNm0ST PAUL
IRS990/USAddress/StateAbbreviationCd0MN
IRS990/USAddress/ZIPCd055114
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0WWW.SAVEWITHEMPLOYEESFIRSTCU.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-02-25 16:41:14Z
ReturnHeader/BusinessOfficerGrp/PersonNm0JAMES CARRIER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum06516414230
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-03-26
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0EMPLOYEES FIRST CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0EMPL
ReturnHeader/Filer/EIN0410909796
ReturnHeader/Filer/PhoneNum06516414230
ReturnHeader/Filer/USAddress/AddressLine1Txt02250 WABASH AVE
ReturnHeader/Filer/USAddress/CityNm0ST PAUL
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN
ReturnHeader/Filer/USAddress/ZIPCd055114
ReturnHeader/PreparerPersonGrp/PreparationDt02015-03-27
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BRENT WOOKEY CPA
ReturnHeader/ReturnTs02015-03-27T13:54:53-05:00
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
$19,864,724
Liabilities
$16,004,824
Net assets
$3,859,900
Revenue
$1,786,869
Expenses
$1,234,491
Net income
$552,378
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2016Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$1.03$3.87$2.84
2015Summary only. Only limited summary data is available for this year.$19.6$13.6$6.04$1.70$0.80$0.90
2014Detailed filing. Detailed filing data is available for this year.$19.9$16.0$3.86$1.79$1.23$0.55
2013Detailed filing. Detailed filing data is available for this year.$16.1$12.7$3.31$1.53$1.53$0.00
2012Summary only. Only limited summary data is available for this year.$12.9$9.58$3.30$1.31$1.30$0.00
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.9$8.57$3.30$1.16
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.4$7.13$3.30$0.80