Civic Intelligence

Sharepoint Credit Union

990 • Fiscal year 2013 • EIN 41-6024250

Jan 01, 2013 to Dec 31, 2013 • Filed on Oct 30, 2014

Organization ProfileWWW.SHAREPOINTCU.COM

View Organization Page

750 Second Street NE No 20055343

(952) 930-0700

Siviq Scores

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

Liabilities / Assets

37th percentile

0.89x

Higher debt load relative to assets than 37% of similar nonprofits.

2013 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2013

Liabilities / Revenue

51st percentile

18.39x

Higher debt load relative to revenue than 51% of similar nonprofits.

2013 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2013

Net Margin

55th percentile

11%

Higher net margin than 55% of similar nonprofits.

2013 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2013

Top Officer Pay

76th percentile

$246,312

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 2.8% of source-year revenue.

2013 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2013

Asset Growth

47th percentile

2.5%

Faster asset growth than 47% of similar nonprofits.

2013 filings • 501(c)14 • $100M-$250M nonprofits • Annualized from 2012 to 2013

Revenue Growth

50th percentile

5.4%

Faster revenue growth than 50% of similar nonprofits.

2013 filings • $100M-$250M nonprofits • Annualized from 2012 to 2013

Balance Sheet
Liabilities / Assets37th percentile

Assets

Up

$182,410,158

Up $4,377,003 (+2.5%) from 2012

Net Assets

Up

$20,723,952

Up $558,224 (+2.8%) from 2012

Liabilities

Up

$161,686,206

Up $3,818,779 (+2.4%) from 2012

Revenue And Expenses
Liabilities / Revenue51st percentileNet Margin55th percentile

Revenue

Up

$8,790,484

Up $448,939 (+5.4%) from 2012

Expenses

Down

$7,782,329

Down $55,478 (-0.7%) from 2012

Net Income

Up

$1,008,155

Up $504,417 (+100%) from 2012

Historical Trend

Balance Sheet Trend

Asset Growth47th percentile

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 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

2013

Assets$182,410,158
Liabilities$161,686,206
Net Assets$20,723,952
Open 2013 Filing

Operations Trend

Revenue Growth50th percentile

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: $61,0282011Revenue 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

2013

Revenue$8,790,484
Expenses$7,782,329
Net Income$1,008,155
Open 2013 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Oct 30, 2014
Return Version
2013v3.0
Gross Receipts
$20,155,773
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.

The credit union's mission is to offer competitive deposit and loan products to assist our members with their financial needs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$109,034,503$120,792,370▲ $11,757,867
Investments Other Securities$41,869,893$41,845,522▼ $24,371
Rtn Earn Endowment Incm Other Fnds$20,165,728$20,723,952▲ $558,224
Savings and Temporary Cash Investments$16,539,000$9,620,000▼ $6,919,000
Cash and Non-Interest-Bearing Accounts$2,080,544$2,122,347▲ $41,803
Land, Buildings, and Equipment, Net$730,430$518,432▼ $211,998
Investments Program Related$333,000$333,000→ $0
Prepaid Expenses and Deferred Charges$321,178$224,828▼ $96,350
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$178,033,155$182,410,158▲ $4,377,003
Other Assets Total$7,124,607$6,953,659▼ $170,948
Liabilities
Other Liabilities$156,750,132$160,159,183▲ $3,409,051
Accounts Payable and Accrued Expenses$1,117,295$1,527,023▲ $409,728
Total Liabilities$157,867,427$161,686,206▲ $3,818,779
Net Assets / Fund Balance
Total Net Assets Fund Balance$20,165,728$20,723,952▲ $558,224
Total Liabilities and Net Assets / Fund Balance$178,033,155$182,410,158▲ $4,377,003

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$271,003$1,931,917$2,202,920
Buildings$239,482$363,874$603,356
Leasehold Improvements$2,386$47,253$49,639
Other Land Buildings$5,561$15,764$21,325
Other Securities$41,845,522--
Compensation and Service Providers
Top Officer Pay76th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Phillip KopischkeCEOFT$194,958$51,354$246,312
Julie TannerCFOFT$115,252$14,699$129,951
Joseph BudnickBoard Chair-$4,913-$4,913
Joe SchmidtDirector-$3,863-$3,863
Gary HawleyVice Chair-$2,963-$2,963
Mike PanDirector-$2,719-$2,719
Richard JohnsonDirector-$2,719-$2,719
Alan PedersonDirector-$2,644-$2,644
Curt RittenbachDirector-$2,231-$2,231
Nicholas NelsonDirector-$788-$788
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$7,867,661
Investment Income
$922,823
Other Revenue
$0
Change in Net Assets
$1,008,155

Audited Revenue Reconciliation

Revenue per Audited Statements
$8,777,640
Revenue Not Reported on Financial Statements
$12,844
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$12,844
Total Revenue per Audited Statements
$8,777,640
Total Revenue per Form 990
$8,790,484
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,556,498
Salaries, Compensation, and Employee Benefits$3,111,590
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$2,003,465
Benefits to Members---$1,114,241
Fees for Services Other---$960,312
Other Employee Benefits---$496,302
Current Officers, Directors, Trustees, and Key Employees---$399,103
Occupancy---$370,358
Office Expenses---$310,181
Depreciation Depletion---$273,563
Payroll Taxes---$212,720
All Other Expenses---$174,109
Other Expenses---$164,244
Fees for Services Accounting---$42,000
Travel---$21,970
Fees for Services Legal---$16,133
Insurance---$4,770
Total Functional Expenses$0$0$0$7,782,329

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$7,782,329
Expenses per Audited Statements$7,769,483
Total Expenses per Audited Statements$7,769,483
Expenses Not Reported on Financial Statements$12,846
Other Expense Adjustments$12,846
Expenses Not Reported on Form 990$0
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

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Curt RittenbachCurt Rittenbach Is on the Board of Directors of Sharepoint Credit UnionCURT RITTENBACH'S DAUGHTER IS AN EMPLOYEE OF SHAREPOINT CREDIT UNION.No$45,424
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Share Certificates$43,305,614
Money Market Shares$39,475,351
Regular Shares$39,042,124
Ira Accounts$22,783,776
Share Drafts$15,471,965
Other Shares$80,353
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
Yes
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 2

“Alan pederson and nicholas nelson - family relationship”

Form 990, Part VI, Section A, Line 6

“The 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.”

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

“The 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.”

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

“Changes 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.”

Form 990, Part VI, Section B, Line 11

“The 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.”

Form 990, Part VI, Section B, Line 15

“The 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.”

Form 990, Part VI, Section C, Line 19

“Financial statements are posted in the credit union's lobbies. Other documents are available upon request.”

Filing and Contact Details

Filer

EIN
41-6024250
Phone
9529300700

Signing Officer

Name
Julie a Tanner
Title
CFO
Phone
9529300700
Signed
2014-10-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Phillip Kopischke
Formed
1933
Legal Domicile
Mn
Voting Board Members
7
Independent Board Members
7
Employees
53
Volunteers
7

Preparer

Preparer
Sherri Wessels
Phone
5074347000
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Bank service charges 19,003. Internet, bill pay, mobile, home banking 89,600. Core data center 119,036. Website 16,519. Item processing 46,494. Debit card network 266,078. Computer maintenance 191,084. Professional services 165,995. Exam fees 46,503.”

FORM 990, PART XII, LINE 2C:

“This process has not changed from the prior year.”

Financial Statement Notes

PART X, LINE 2:

“The 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 unions tax exempt status was reinstated february 2013. 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 2010 and subsequent tax years are open for examination by federal and state taxing authorities.”

PART XI, LINE 4B - OTHER ADJUSTMENTS:

“Revenue in the 990 that is shown in expense section of the audit 12,844.”

PART XII, LINE 4B - OTHER ADJUSTMENTS:

“Revenue in the 990 that is shown in expense section of the audit 12,846.”

Raw XML AppendixShowing 400 of 439 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/InsuranceGrp/TotalAmt04770
IRS990/InvestmentIncomeGrp/ExclusionAmt0781389
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0781389
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt041869893
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt041845522
IRS990/InvestmentsProgramRelatedGrp/BOYAmt0333000
IRS990/InvestmentsProgramRelatedGrp/EOYAmt0333000
IRS990/IRPDocumentCnt07869
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt02358808
IRS990/LandBldgEquipBasisNetGrp/BOYAmt0730430
IRS990/LandBldgEquipBasisNetGrp/EOYAmt0518432
IRS990/LandBldgEquipCostOrOtherBssAmt02877240
IRS990/LegalDomicileStateCd0MN
IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt085795
IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt011279494
IRS990/LoanOutstandingInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd01
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0THE CREDIT UNION'S MISSION IS TO OFFER COMPETITIVE LOAN AND DEPOSIT PRODUCTS TO OUR MEMBERSHIP TO CREATE LIFELONG FINANCIAL RELATIONSHIPS.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt020165728
IRS990/NetAssetsOrFundBalancesEOYAmt020723952
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt0141434
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0141434
IRS990/NetUnrelatedBusTxblIncmAmt0-2599
IRS990/NetUnrlzdGainsLossesInvstAmt0-449931
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/TotalAmt0370358
IRS990/OfficeExpensesGrp/TotalAmt0310181
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt07124607
IRS990/OtherAssetsTotalGrp/EOYAmt06953659
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0496302
IRS990/OtherExpensesGrp/Desc0LOAN SERVICING EXPENSE
IRS990/OtherExpensesGrp/Desc1PROVISION FOR LOAN LOSS
IRS990/OtherExpensesGrp/Desc2EDUCATIONAL AND PROMOTI
IRS990/OtherExpensesGrp/Desc3MISC. EXPENSE
IRS990/OtherExpensesGrp/TotalAmt0734478
IRS990/OtherExpensesGrp/TotalAmt1284800
IRS990/OtherExpensesGrp/TotalAmt2199580
IRS990/OtherExpensesGrp/TotalAmt3164244
IRS990/OtherLiabilitiesGrp/BOYAmt0156750132
IRS990/OtherLiabilitiesGrp/EOYAmt0160159183
IRS990/OtherOrganizationDsc0CU
IRS990/OtherSalariesAndWagesGrp/TotalAmt02003465
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0109034503
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0120792370
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/TotalAmt0212720
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0321178
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0224828
IRS990/PrincipalOfficerNm0PHILLIP KOPISCHKE
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/BusinessCd1524298
IRS990/ProgramServiceRevenueGrp/BusinessCd2522100
IRS990/ProgramServiceRevenueGrp/Desc0LOAN INTEREST
IRS990/ProgramServiceRevenueGrp/Desc1OTHER INCOME
IRS990/ProgramServiceRevenueGrp/Desc2FEE INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt05678333
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt11463454
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2724618
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt05678333
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt11463454
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2725874
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt01256
IRS990/ProgSrvcAccomActy2Grp/Desc0DIRECT LABOR AND EMPLOYEE BENEFIT COSTS INCURRED PROVIDING SAVINGS DEPOSIT SERVICES, ORGINATING NEW LOANS AND SERVICING THE LOAN PORTFOLIO FOR MEMBERS.
IRS990/ProgSrvcAccomActy3Grp/Desc0DATA 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.
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt01347963
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0909555
IRS990/PYOtherExpensesAmt03624168
IRS990/PYOtherRevenueAmt0-24207
IRS990/PYProgramServiceRevenueAmt07456197
IRS990/PYRevenuesLessExpensesAmt0503738
IRS990/PYSalariesCompEmpBnftPaidAmt02865676
IRS990/PYTotalExpensesAmt07837807
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt08341545
IRS990/ReconcilationRevenueExpnssAmt01008155
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd01
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt020165728
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt020723952
IRS990/SavingsAndTempCashInvstGrp/BOYAmt016539000
IRS990/SavingsAndTempCashInvstGrp/EOYAmt09620000
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt0239482
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0363874
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0603356
IRS990ScheduleD/EquipmentGrp/BookValueAmt0271003
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01931917
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt02202920
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt012846
IRS990ScheduleD/ExpensesSubtotalAmt07769483
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt02386
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt047253
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt049639
IRS990ScheduleD/OtherExpensesNotIncludedAmt012846
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt05561
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt015764
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt021325
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt015471965
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt139042124
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt239475351
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt343305614
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt422783776
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt580353
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SHARE DRAFTS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1REGULAR SHARES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2MONEY MARKET SHARES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3SHARE CERTIFICATES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc4IRA ACCOUNTS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc5OTHER SHARES
IRS990ScheduleD/OtherRevenuesNotIncludedAmt012844
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt041845522
IRS990ScheduleD/OtherSecuritiesGrp/Desc0SECURITIES - AFS
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0F
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt012844
IRS990ScheduleD/RevenueSubtotalAmt08777640
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE 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 UNIONS TAX EXEMPT STATUS WAS REINSTATED FEBRUARY 2013. 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 2010 AND SUBSEQUENT TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1REVENUE IN THE 990 THAT IS SHOWN IN EXPENSE SECTION OF THE AUDIT 12,844.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2REVENUE IN THE 990 THAT IS SHOWN IN EXPENSE SECTION OF THE AUDIT 12,846.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XII, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0518432
IRS990ScheduleD/TotalBookValueSecuritiesAmt041845522
IRS990ScheduleD/TotalExpensesPerForm990Amt07782329
IRS990ScheduleD/TotalLiabilityAmt0160159183
IRS990ScheduleD/TotalRevenuePerForm990Amt08790484
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt08777640
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt07769483
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0194958
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount040185
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt05504
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt05665
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0PHILLIP KOPISCHKE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0246312
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0THE 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.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 3
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0CURT RITTENBACH
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0CURT RITTENBACH IS ON THE BOARD OF DIRECTORS OF SHAREPOINT CREDIT UNION
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt045424
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0CURT RITTENBACH'S DAUGHTER IS AN EMPLOYEE OF SHAREPOINT CREDIT UNION.
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ALAN PEDERSON AND NICHOLAS NELSON - FAMILY RELATIONSHIP
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE 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/SupplementalInformationDetail/ExplanationTxt2THE 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/SupplementalInformationDetail/ExplanationTxt3CHANGES 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/SupplementalInformationDetail/ExplanationTxt4THE 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/SupplementalInformationDetail/ExplanationTxt5THE 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/SupplementalInformationDetail/ExplanationTxt6FINANCIAL STATEMENTS ARE POSTED IN THE CREDIT UNION'S LOBBIES. OTHER DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7BANK SERVICE CHARGES 19,003. INTERNET, BILL PAY, MOBILE, HOME BANKING 89,600. CORE DATA CENTER 119,036. WEBSITE 16,519. ITEM PROCESSING 46,494. DEBIT CARD NETWORK 266,078. COMPUTER MAINTENANCE 191,084. PROFESSIONAL SERVICES 165,995. EXAM FEES 46,503.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PART XII, LINE 2C:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0178033155
IRS990/TotalAssetsEOYAmt0182410158
IRS990/TotalAssetsGrp/BOYAmt0178033155
IRS990/TotalAssetsGrp/EOYAmt0182410158
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalEmployeeCnt053
IRS990/TotalFunctionalExpensesGrp/TotalAmt07782329
IRS990/TotalGrossUBIAmt01256
IRS990/TotalLiabilitiesBOYAmt0157867427
IRS990/TotalLiabilitiesEOYAmt0161686206
IRS990/TotalLiabilitiesGrp/BOYAmt0157867427
IRS990/TotalLiabilitiesGrp/EOYAmt0161686206
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt020165728
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt020723952
IRS990/TotalOtherCompensationAmt025868
IRS990/TotalProgramServiceRevenueAmt07867661
IRS990/TotalReportableCompFromOrgAmt0373235
IRS990/TotalRevenueGrp/ExclusionAmt0922823
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt07866405
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt08790484
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt01256
IRS990/TotalVolunteersCnt07
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0178033155
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0182410158
IRS990/TotReportableCompRltdOrgAmt00

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.

Open filing
Assets
$182,410,158
Liabilities
$161,686,206
Net assets
$20,723,952
Revenue
$8,790,484
Expenses
$7,782,329
Net income
$1,008,155
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
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
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2013 filings • 501(c)14 • $100M-$250M nonprofits