Civic Intelligence

Sharepoint Credit Union

990 • Fiscal year 2012 • EIN 41-6024250

Jan 01, 2012 to Dec 31, 2012 • Filed on Oct 30, 2014

Organization ProfileWWW.SHAREPOINTCU.COM

View Organization Page

750 Second Street NE No 20055343
Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Flat

$178,033,155

Flat from 2012

Net Assets

Flat

$20,165,728

Flat from 2012

Liabilities

Flat

$157,867,427

Flat from 2012

Revenue And Expenses

Revenue

-

No earlier filing loaded for comparison.

Expenses

Flat

$7,837,807

Flat from 2012

Net Income

-

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$400M$300M$200M$100M$0Assets 2008: $151,646,130Liabilities 2008: $131,386,182Net Assets 2008: $20,259,9482008Assets 2009: $175,499,320Liabilities 2009: $156,652,646Net Assets 2009: $18,846,6742009Assets 2010: $169,143,835Liabilities 2010: $149,573,209Net Assets 2010: $19,570,6262010Assets 2011: $172,935,635Liabilities 2011: $153,237,055Net Assets 2011: $19,698,5802011Assets 2012: $178,033,155Liabilities 2012: $157,867,427Net Assets 2012: $20,165,7282012Assets 2012: $178,033,155Liabilities 2012: $157,867,427Net Assets 2012: $20,165,7282012Assets 2013: $182,410,158Liabilities 2013: $161,686,206Net Assets 2013: $20,723,9522013Assets 2014: $182,829,558Liabilities 2014: $160,878,175Net Assets 2014: $21,951,3832014Assets 2015: $190,783,274Liabilities 2015: $168,029,096Net Assets 2015: $22,754,1782015Assets 2016: $193,617,596Liabilities 2016: $169,918,263Net Assets 2016: $23,699,3332016Assets 2017: $200,148,899Liabilities 2017: $175,667,430Net Assets 2017: $24,481,4692017Assets 2018: $234,856,842Liabilities 2018: $207,079,783Net Assets 2018: $27,777,0592018Assets 2019: $240,631,362Liabilities 2019: $211,254,083Net Assets 2019: $29,377,2792019Assets 2020: $273,724,274Liabilities 2020: $243,295,754Net Assets 2020: $30,428,5202020Assets 2021: $305,038,768Liabilities 2021: $273,420,943Net Assets 2021: $31,617,8252021Assets 2022: $301,847,675Liabilities 2022: $277,243,214Net Assets 2022: $24,604,4612022Assets 2023: $298,126,897Liabilities 2023: $270,493,328Net Assets 2023: $27,633,5692023Assets 2024: $379,067,778Liabilities 2024: $345,224,240Net Assets 2024: $33,843,5382024

Highlighted filing

2012

Assets$178,033,155
Liabilities$157,867,427
Net Assets$20,165,728
Open 2012 Filing

Operations Trend

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

$20M$10M$0-$10MRevenue 2008: $10,597,635Expenses 2008: $10,325,019Net Income 2008: $272,6162008Revenue 2009: $10,203,867Expenses 2009: $13,205,760Net Income 2009: -$3,001,8932009Revenue 2010: $9,657,487Expenses 2010: $9,097,071Net Income 2010: $560,4162010Revenue 2011: $8,714,845Expenses 2011: $8,653,817Net Income 2011: $61,0282011Expenses 2012: $7,837,8072012Revenue 2012: $8,341,545Expenses 2012: $7,837,807Net Income 2012: $503,7382012Revenue 2013: $8,790,484Expenses 2013: $7,782,329Net Income 2013: $1,008,1552013Revenue 2014: $8,711,891Expenses 2014: $7,697,271Net Income 2014: $1,014,6202014Revenue 2015: $8,707,606Expenses 2015: $7,535,472Net Income 2015: $1,172,1342015Revenue 2016: $9,086,653Expenses 2016: $8,199,739Net Income 2016: $886,9142016Revenue 2017: $9,368,856Expenses 2017: $8,478,511Net Income 2017: $890,3452017Revenue 2018: $11,143,898Expenses 2018: $10,136,162Net Income 2018: $1,007,7362018Revenue 2019: $12,074,874Expenses 2019: $10,840,031Net Income 2019: $1,234,8432019Revenue 2020: $11,851,252Expenses 2020: $11,146,394Net Income 2020: $704,8582020Revenue 2021: $12,754,371Expenses 2021: $10,093,236Net Income 2021: $2,661,1352021Revenue 2022: $12,280,437Expenses 2022: $10,449,938Net Income 2022: $1,830,4992022Revenue 2023: $13,123,452Expenses 2023: $12,464,305Net Income 2023: $659,1472023Revenue 2024: $19,969,080Expenses 2024: $19,677,818Net Income 2024: $291,2622024

Highlighted filing

2012

Revenue-
Expenses$7,837,807
Net Income-
Open 2012 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2012 to Dec 31, 2012
Signed
Oct 30, 2014
Return Version
2012v2.1
Gross Receipts
$8,341,545
Mission and Program Overview

Mission

The credit union's mission is to offer competitive loan and deposit products to our membership to create lifelong financial relationships.

Major Activities

Activity 2
Direct labor and employee benefit costs incurred providing savings deposit services, orginating new loans and servicing the loan portfolio for members.
Activity 3
Data processing costs incurred recording member account activity and providing access to members to their accounts via home banking, atm networks and in person at the credit union office.
Filing and Contact Details

Filer

EIN
41-6024250
Raw XML AppendixShowing 400 of 426 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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IRS990ScheduleD/Form990ScheduleDPartXIII/Explanation0THE CREDIT UNION WAS EXEMPT, UNDER IRC 501(C)(14), FROM FEDERAL AND STATE INCOME TAXES. HOWEVER, THE CREDIT UNION'S TAX EXEMPT STATUS WAS REVOKED EFFECTIVE MAY 15, 2010 BY THE INTERNAL REVENUE SERVICE (IRS) DUE TO NOT COMPLYING WITH THE PENSION PROTECTION ACT OF 2006 (OVERSIGHT OF FILING FORM 990 RETURNS FOR THREE CONSECUTIVE YEARS). THE TAXING AUTHORITIES HAVE THE ABILITY TO ASSESS TAXES, PENALTIES AND INTEREST FOR ANY YEARS FOR WHICH THE ORGANIZATION IS NOT CONSIDERED TAX EXEMPT OR FOR WHICH NO TAX RETURN WAS FILED. THE CREDIT UNION FILED AN APPLICATION FOR RETROACTIVE REINSTATEMENT OF THEIR TAX EXEMPT STATUS IN LATE DECEMBER OF 2012. HOWEVER, THEY HAVE NOT YET RECEIVED A RESPONSE TO THE APPLICATION FROM THE IRS. THE LIKELIHOOD OF THIS APPLICATION BEING APPROVED IS UNKNOWN. IF THE APPLICATION IS NOT APPROVED, THE CREDIT UNION WILL BE REQUIRED TO FILE CORPORATE TAX RETURNS (FORM 1120) FROM THE DATE OF REVOCATION OF STATUS (05/15/10) THROUGH THE DATE THE APPLICATION FOR REINSTATEMENT WAS FILED WITH THE IRS IN LATE DECEMBER 2012. THE POTENTIAL LIABILITY IF SUCH CORPORATE TAX RETURN FILINGS ARE REQUIRED IS ESTIMATED TO BE BETWEEN $285,000 AND $345,000. IF THE IRS DOESN'T APPROVE THE RETROACTIVE REINSTATEMENT OF TAX EXEMPT STATUS, THE ORGANIZATION SHOULD BE CONSIDERED TAX EXEMPT EFFECTIVE AS OF THE DATE THE APPLICATION WAS FILED WITH THE IRS IN LATE DECEMBER 2012. THE CREDIT UNION ATTEMPTED TO FILE A 2011 FORM 990 BUT IT WAS REJECTED BY THE IRS DUE TO THEIR TAX EXEMPT STATUS BEING REVOKED. THE CREDIT UNION'S 2009 AND SUBSEQUENT TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES.
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IRS990ScheduleJ/Form990ScheduleJPartIII/Explanation0THE CEO'S COMPENSATION IS DETERMINED BY THE EXECUTIVE COMMITTEE OF THE BOARD. THEY USE COMPARABLE INDUSTRY DATA PRODUCED BY CUNA TO DETERMINE THE PAY RANGE. PERFORMANCE IS DOCUMENTED ON AN ANNUAL REVIEW FORM COMPLETED BY ALL BOARD DIRECTORS.
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IRS990ScheduleL/Form990ScheduleLPartIV/DescriptionOfTransaction0CURT RITTENBACH'S DAUGHTER IS AN EMPLOYEE OF SHAREPOINT CREDIT UNION.
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IRS990ScheduleL/Form990ScheduleLPartIV/Relationship0CURT RITTENBACH IS ON THE BOARD OF DIRECTORS OF SHAREPOINT CREDIT UNION
IRS990ScheduleL/Form990ScheduleLPartIV/SharingOfRevenues00
IRS990ScheduleO/GeneralExplanation/Explanation0THE CREDIT UNION IS COMPRISED OF A SINGLE CLASS OF APPROXIMATELY 17,000 MEMBER-OWNERS, EACH OF WHICH HAS EQUAL RIGHTS IN OWNERSHIP, GOVERNANCE AND VOTING RIGHTS AT THE ANNUAL MEETINGS, WITH THE EXCEPTION OF THE MEMBER-OWNERS WHO ARE ELECTED TO THE BOARD OF DIRECTORS.
IRS990ScheduleO/GeneralExplanation/Explanation1THE MEMBER-OWNERS OF THE CREDIT UNION HAVE THE AUTHORITY TO ELECT THE MEMBERS OF THE BOARD OF DIRECTORS FOR THREE-YEAR TERMS ON A ROTATING BASIS. CANDIDATES ARE ELECTED BY A SIMPLE PLURALITY VOTE. THE BOARD OF DIRECTORS APPOINT VOLUNTEERS TO SERVE ON THE SUPERVISORY COMMITTEE, WHICH IS VESTED WITH MONITORING SAFETY AND SOUNDSHIP OF THE ORGANIZATION. IF DEEMED APPROPRIATE, THE SUPERVISORY COMMITTEE CAN SUSPEND BOARD MEMBERS AND CAN CALL A SPECIAL MEETING OF THE MEMBERSHIP TO EVALUATE THE ISSUE AND VOTE TO EITHER DISMISS OR REINSTATE THE BOARD MEMBER.
IRS990ScheduleO/GeneralExplanation/Explanation2CHANGES TO THE GOVERNING DOCUMENTS (BYLAWS) MUST BE APPROVED BY THE MEMBER-OWNERS AFTER THEY HAVE BEEN APPROVED BY THE BOARD OF DIRECTORS AND THE REGULATORY AGENCY. APPROVAL OCCURS WHEN AT LEAST 50% OF THE MEMBER-OWNERS VOTE TO APPROVE.
IRS990ScheduleO/GeneralExplanation/Explanation3THE ACCOUNTING STAFF PREPARES THE NECESSARY DOCUMENTS FOR THE COMPLETION OF THE 990. PRIOR TO BEING FILED WITH THE IRS, A MEMBER OF SENIOR MANAGEMENT REVIEWS THE RETURN FOR ACCURACY.
IRS990ScheduleO/GeneralExplanation/Explanation4THE CEO'S COMPENSATION IS DETERMINED BY THE EXECUTIVE COMMITTEE OF THE BOARD. THEY USE COMPARABLE INDUSTRY DATA PRODUCED BY CUNA TO DETERMINE THE PAY RANGE. PERFORMANCE IS DOCUMENTED ON AN ANNUAL REVIEW FORM COMPLETED BY ALL BOARD DIRECTORS. OTHER KEY OFFICERS ARE REVIEWED ON AN ANNUAL BASIS BY THE CEO. PAY RANGES ARE DETERMINED BY INDUSTRY SALARY SURVEYS.
IRS990ScheduleO/GeneralExplanation/Explanation5FINANCIAL STATEMENTS ARE POSTED IN THE CREDIT UNION'S LOBBIES. OTHER DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/GeneralExplanation/Explanation6THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/GeneralExplanation/ReturnReference0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/GeneralExplanation/ReturnReference1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/GeneralExplanation/ReturnReference2FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/GeneralExplanation/ReturnReference3FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/GeneralExplanation/ReturnReference4FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/GeneralExplanation/ReturnReference5FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/GeneralExplanation/ReturnReference6FORM 990, PART XII, LINE 2C:
IRS990/ScheduleORequired01
IRS990/School00
IRS990/SignificantChange00
IRS990/SignificantNewProgramServices00
IRS990/StateLegalDomicile0MN
IRS990/SubjectToProxyTax00
IRS990/TaxablePartyNotification00
IRS990/TaxExemptBonds00
IRS990/Terminated00
IRS990/TermOrPermanentEndowments00
IRS990/TheBooksAreInCareOf/AddressUS/AddressLine10750 SECOND STREET NE NO 200
IRS990/TheBooksAreInCareOf/AddressUS/City0HOPKINS
IRS990/TheBooksAreInCareOf/AddressUS/State0MN
IRS990/TheBooksAreInCareOf/AddressUS/ZIPCode055343
IRS990/TheBooksAreInCareOf/NameBusiness/BusinessNameLine10JULIE TANNER
IRS990/TheBooksAreInCareOf/TelephoneNumber09529300700
IRS990/TotalAssets/BOY0172935635
IRS990/TotalAssetsBOY0172935635
IRS990/TotalAssets/EOY0178033155
IRS990/TotalAssetsEOY0178033155
IRS990/TotalCompGT150K01
IRS990/TotalExpensesCurrentYear07837807
IRS990/TotalExpensesPriorYear08653817
IRS990/TotalFunctionalExpenses/Total07837807
IRS990/TotalFundrsngExpCurrentYear00
IRS990/TotalGrossUBI02851
IRS990/TotalLiabilities/BOY0153237055
IRS990/TotalLiabilitiesBOY0153237055
IRS990/TotalLiabilities/EOY0157867427
IRS990/TotalLiabilitiesEOY0157867427
IRS990/TotalLiabNetAssetsFundBalances/BOY0172935635
IRS990/TotalLiabNetAssetsFundBalances/EOY0178033155
IRS990/TotalNbrEmployees052
IRS990/TotalNbrVolunteers011
IRS990/TotalNetAssetsFundBalances/BOY019698580
IRS990/TotalNetAssetsFundBalances/EOY020165728
IRS990/TotalOtherCompensation022071
IRS990/TotalOtherRevenue0-24207
IRS990/TotalProfFundrsngExpCY00
IRS990/TotalProfFundrsngExpPriorYear00
IRS990/TotalProgramServiceRevenue07456197
IRS990/TotalReportableCompFrmRltdOrgs00
IRS990/TotalReportableCompFromOrg0330205
IRS990/TotalRevenueCurrentYear08341545
IRS990/TotalRevenue/ExclusionAmount0909555
IRS990/TotalRevenuePriorYear08714845
IRS990/TotalRevenue/RelatedOrExemptFunctionIncome07429139
IRS990/TotalRevenue/TotalRevenueColumn08341545
IRS990/TotalRevenue/UnrelatedBusinessRevenue02851
IRS990/Travel/Total024093
IRS990/TypeOfOrganizationOther0X
IRS990/TypeOfOrgOtherDescription0CU
IRS990/UnrelatedBusinessIncome01
IRS990/UponRequest0X
IRS990/WebSite0WWW.SHAREPOINTCU.COM
IRS990/WhistleblowerPolicy00
IRS990/YearFormation01933
ReturnHeader/BuildTS02016-03-07 17:11:31Z

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
$178,033,155
Liabilities
$157,867,427
Net assets
$20,165,728
Revenue
-
Expenses
$7,837,807
Net income
-
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$379$345$33.8$20.0$19.7$0.29
2023Summary only. Only limited summary data is available for this year.$298$270$27.6$13.1$12.5$0.66
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$302$277$24.6$12.3$10.4$1.83
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$305$273$31.6$12.8$10.1$2.66
2020Summary only. Only limited summary data is available for this year.$274$243$30.4$11.9$11.1$0.70
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$241$211$29.4$12.1$10.8$1.23
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$235$207$27.8$11.1$10.1$1.01
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$200$176$24.5$9.37$8.48$0.89
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$194$170$23.7$9.09$8.20$0.89
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$191$168$22.8$8.71$7.54$1.17
2014Detailed filing. Detailed filing data is available for this year.$183$161$22.0$8.71$7.70$1.01
2013Detailed filing. Detailed filing data is available for this year.$182$162$20.7$8.79$7.78$1.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$178$158$20.2$7.84
2012Summary only. Only limited summary data is available for this year.$178$158$20.2$8.34$7.84$0.50
2011Summary only. Only limited summary data is available for this year.$173$153$19.7$8.71$8.65$0.06
2010Summary only. Only limited summary data is available for this year.$169$150$19.6$9.66$9.10$0.56
2009Summary only. Only limited summary data is available for this year.$175$157$18.8$10.2$13.2$3.00
2008Summary only. Only limited summary data is available for this year.$152$131$20.3$10.6$10.3$0.27