Civic Intelligence

Sharepoint Credit Union

990 • Fiscal year 2019 • EIN 41-6024250

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 16, 2020

Organization ProfileWWW.SHAREPOINTCU.COM

View Organization Page

5300 Hyland Greens DriveBloomington, MN 55437

(952) 930-0700

Siviq Scores

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

Liabilities / Assets

40th percentile

0.88x

Higher debt load relative to assets than 40% of similar nonprofits.

2019 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2019

Liabilities / Revenue

62nd percentile

17.50x

Higher debt load relative to revenue than 62% of similar nonprofits.

2019 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2019

Net Margin

37th percentile

10%

Higher net margin than 37% of similar nonprofits.

2019 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2019

Top Officer Pay

93rd percentile

$384,766

Higher top officer pay than 93% of similar nonprofits.

Top officer pay equals 3.2% of source-year revenue.

2019 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2019

Asset Growth

35th percentile

2.5%

Faster asset growth than 35% of similar nonprofits.

2019 filings • 501(c)14 • $100M-$250M nonprofits • Annualized from 2018 to 2019

Revenue Growth

51st percentile

8.4%

Faster revenue growth than 51% of similar nonprofits.

2019 filings • 501(c)14 • $100M-$250M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets40th percentile

Assets

Up

$240,631,362

Up $5,774,520 (+2.5%) from 2018

Net Assets

Up

$29,377,279

Up $1,600,220 (+5.8%) from 2018

Liabilities

Up

$211,254,083

Up $4,174,300 (+2.0%) from 2018

Revenue And Expenses
Liabilities / Revenue62nd percentileNet Margin37th percentile

Revenue

Up

$12,074,874

Up $930,976 (+8.4%) from 2018

Expenses

Up

$10,840,031

Up $703,869 (+6.9%) from 2018

Net Income

Up

$1,234,843

Up $227,107 (+23%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth35th 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

2019

Assets$240,631,362
Liabilities$211,254,083
Net Assets$29,377,279
Open 2019 Filing

Operations Trend

Revenue Growth51st 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

2019

Revenue$12,074,874
Expenses$10,840,031
Net Income$1,234,843
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 16, 2020
Return Version
2019v5.1
Gross Receipts
$12,129,313
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 low loan rates and competitive deposit rates for our members financial security.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$182,325,189$184,941,499▲ $2,616,310
Rtn Earn Endowment Incm Other Fnds$27,777,059$29,377,279▲ $1,600,220
Investments in Publicly Traded Securities$22,561,843$21,297,118▼ $1,264,725
Savings and Temporary Cash Investments$7,481,000$12,746,000▲ $5,265,000
Land, Buildings, and Equipment, Net$5,197,082$5,028,882▼ $168,200
Cash and Non-Interest-Bearing Accounts$4,782,368$3,865,191▼ $917,177
Prepaid Expenses and Deferred Charges$480,267$466,309▼ $13,958
Investments Program Related$399,707$399,707→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$234,856,842$240,631,362▲ $5,774,520
Other Assets Total$11,629,386$11,886,656▲ $257,270
Liabilities
Other Liabilities$203,380,592$208,744,389▲ $5,363,797
Accounts Payable and Accrued Expenses$3,699,191$2,509,694▼ $1,189,497
Total Liabilities$207,079,783$211,254,083▲ $4,174,300
Net Assets / Fund Balance
Total Net Assets Fund Balance$27,777,059$29,377,279▲ $1,600,220
Total Liabilities and Net Assets / Fund Balance$234,856,842$240,631,362▲ $5,774,520

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,211,404$855,982$4,067,386
Equipment$614,668$1,968,395$2,583,063
Land$1,202,810-$1,202,810
Leasehold Improvements$0$35,914$35,914
Other Land Buildings$0$21,325$21,325
Compensation and Service Providers
Top Officer Pay93rd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Phillip KopischkeCEOFT$251,944$132,822$384,766
Julie TannerCFOFT$129,556$34,175$163,731
Todd SandersDirector of LendingFT$123,166$12,500$135,666
Kerri HinnikerVP of Specialized Lending and Credit PolicyFT$117,958$8,000$125,958
Curt RittenbachDirector-$3,488-$3,488
Alan PedersonDirector-$3,465-$3,465
Mike PanDirector-$3,465-$3,465
Nicholas NelsonVice Chair-$3,307-$3,307
Joseph SchmidtDirector-$3,307-$3,307
Gary HawleyDirector-$3,195-$3,195
Scott WeichtDirector-$3,105-$3,105
Todd CorboSecretary-$3,105-$3,105
Joseph BudnickBoard Chair-$2,160-$2,160
Jean GalloDirector-$1,755-$1,755
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$11,365,823
Investment Income
$648,955
Other Revenue
$60,096
Change in Net Assets
$1,234,843
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,912,528
Salaries, Compensation, and Employee Benefits$4,526,719
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$2,924,308
Fees for Services Other---$1,494,813
Benefits to Members---$1,400,784
Other Employee Benefits---$743,996
Current Officers, Directors, Trustees, and Key Employees---$578,849
Occupancy---$532,590
Office Expenses---$410,336
Depreciation Depletion---$365,971
Payroll Taxes---$279,566
Other Expenses---$195,884
Travel---$56,033
Fees for Services Legal---$39,260
Fees for Services Accounting---$30,730
All Other Expenses---$14,500
Insurance---$5,827
Total Functional Expenses$0$0$0$10,840,031
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
Kelli TannerDaughter of Julie Tanner (cfo of Sharepoint Credit Union)JULIE TANNER'S DAUGHTER IS AN EMPLOYEE OF SHAREPOINT CREDIT UNION.No$43,022
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Regular Shares$68,597,448
Money Market Shares$46,582,810
Share Drafts$38,206,932
Share Certificates$35,145,251
Ira Accounts$16,009,467
Nonmember Deposits$4,164,000
Other Shares$38,481
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
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
No
Conflict-of-interest policy
Yes
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 julie tanner and kelli tanner - family relationship”

Form 990, Part VI, Section A, Line 6

“The credit union is comprised of a single class of approximately 23,000 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 11B

“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 15A

“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

Filer Name
Sharepoint Credit Union
EIN
41-6024250
Phone
9529300700
Address
5300 HYLAND GREENS DRIVE, BLOOMINGTON, MN 55437

Signing Officer

Name
Julie a Tanner
Title
CFO
Phone
9529300700
Signed
2020-11-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Phillip Kopischke
Formed
1933
Legal Domicile
Mn
Voting Board Members
9
Independent Board Members
9
Employees
84
Volunteers
13

Preparer

Firm
Cliftonlarsonallen Llp
Address
109 N MAIN STREET SUITE 200, AUSTIN, MN 55912
Preparer
Tanya Medgaarden
Phone
5074347000
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Bank service charges 22,447. Internet, bill pay, mobile, home banking 118,038. Website 35,316. Computer maintenance 208,450. Professional services 367,514. Exam fees 14,500. Atm expnses 472,000. Data center expense 256,548.”

FORM 990, PART XI, LINE 9:

“ROUNDING 1.”

FORM 990, PART IV, LINE 12A & FORM 990, PART XII, LINE 2B:

“Audited financial statements - the financial statements were audited on a seperate basis and done as of march 31. Therefore, the reporting period for the audit does not match the reporting period for the 990. The organization does have a committee that assumes responsibility for oversight of the audit and selection of an independent accountant.”

Form 990, Part XII, Line 2C

“The process for oversight of the audit and selection of an independent accountant as not changed from the prior year.”

Financial Statement Notes

PART X, LINE 2:

“As allowed by state regulatory authorities, the audit is done as of march 31. The reporting period for the audit, therefore, does not match the reporting period for the 990. Per footnote 1 in the credit union's march 31, 2020 financial statements, the credit union is exempt, under irc 501 (c) (14), from federal and state income taxes. Certain products and services provided by select state chartered credit unions have been deemed by the internal revenue service (irs), in technical advice memorandums (tams) released in 2007, to be unrelated to the specific entity's exempt purpose. As presented in the technical advice memorandums, the net taxable income from these products and services would be subject to income taxes. Credit unions have litigated against the irs positions noted in the tams and have been successful in having courts declare in 2009 and 2010 that revenue from insurance products sold to members, helping them protect their financial wellbeing, qualifies as exempt purpose income, contrary to the irs position in the tams. The credit union has filed tax returns in the past for activities it has deemed taxable and has no net operating loss carryforward as of the calendar year. The taxing authorities have the ability to assess taxes, penalties and interest for any years for which no tax return was filed. In the opinion of management, any liability resulting from taxing authorities imposing income taxes on the net taxable income from activities potentially deemed to be unrelated to the credit union's exempt purpose is not expected to have a material effect on the credit union's financial position or results of operations. The credit union evaluated its tax positions and determined no uncertain tax positions exist as of march 31, 2020. The credit union's 2016 through 2019 tax years are open for examination by federal and state taxing authorities.”

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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt130
IRS990/Form990PartVIISectionAGrp/TitleTxt0CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt1CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR OF LENDING
IRS990/Form990PartVIISectionAGrp/TitleTxt3VP OF SPECIALIZED LENDING AND CREDIT POLICY
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12BOARD CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990ProvidedToGvrnBodyInd00
IRS990/Form990TFiledInd01
IRS990/FormationYr01933
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GainOrLossGrp/OtherAmt0-54439
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt09
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt012129313
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt09
IRS990/IndivRcvdGreaterThan100KCnt04
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIXInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/InsuranceGrp/TotalAmt05827
IRS990/InvestmentIncomeGrp/ExclusionAmt0703394
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0703394
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsProgramRelatedGrp/BOYAmt0399707
IRS990/InvestmentsProgramRelatedGrp/EOYAmt0399707
IRS990/InvestmentsPubTradedSecGrp/BOYAmt022561843
IRS990/InvestmentsPubTradedSecGrp/EOYAmt021297118
IRS990/IRPDocumentCnt04193
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt02881616
IRS990/LandBldgEquipBasisNetGrp/BOYAmt05197082
IRS990/LandBldgEquipBasisNetGrp/EOYAmt05028882
IRS990/LandBldgEquipCostOrOtherBssAmt07910498
IRS990/LegalDomicileStateCd0MN
IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt054439
IRS990/LoanOutstandingInd00
IRS990/LocalChaptersInd01
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/NetAssetsOrFundBalancesBOYAmt027777059
IRS990/NetAssetsOrFundBalancesEOYAmt029377279
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt0-54439
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0-54439
IRS990/NetUnrelatedBusTxblIncmAmt0-184
IRS990/NetUnrlzdGainsLossesInvstAmt0365376
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/TotalAmt0532590
IRS990/OfficeExpensesGrp/TotalAmt0410336
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt011629386
IRS990/OtherAssetsTotalGrp/EOYAmt011886656
IRS990/OtherChangesInNetAssetsAmt01
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0743996
IRS990/OtherExpensesGrp/Desc0LOAN SERVICING EXPENSE
IRS990/OtherExpensesGrp/Desc1EDUCATIONAL AND PROMOTI
IRS990/OtherExpensesGrp/Desc2PROVISION FOR LOAN LOSS
IRS990/OtherExpensesGrp/Desc3MISC. EXPENSE
IRS990/OtherExpensesGrp/TotalAmt01015915
IRS990/OtherExpensesGrp/TotalAmt1439776
IRS990/OtherExpensesGrp/TotalAmt2310893
IRS990/OtherExpensesGrp/TotalAmt3195884
IRS990/OtherLiabilitiesGrp/BOYAmt0203380592
IRS990/OtherLiabilitiesGrp/EOYAmt0208744389
IRS990/OtherOrganizationDsc0CU
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0OTHER NON-OPERATING INCOME
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt060096
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt060096
IRS990/OtherRevenueTotalAmt060096
IRS990/OtherSalariesAndWagesGrp/TotalAmt02924308
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0182325189
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0184941499
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/TotalAmt0279566
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PoliciesReferenceChaptersInd01
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0480267
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0466309
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/RelatedOrExemptFuncIncomeAmt08414254
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt12136988
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2805615
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt08414254
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt12136988
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2814581
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt08966
IRS990/ProgSrvcAccomActy2Grp/Desc0PROVIDING SAVINGS DEPOSIT SERVICES, ORGINATING NEW LOANS AND SERVICING THE LOAN PORTFOLIO FOR MEMBERS.
IRS990/ProgSrvcAccomActy3Grp/Desc0RECORDING MEMBER ACCOUNT ACTIVITY AND PROVIDING ACCESS TO MEMBERS TO THEIR ACCOUNTS VIA HOME BANKING, ATM NETWORKS AND IN PERSON AT THE CREDIT UNION OFFICES.
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt0843621
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0807585
IRS990/PYOtherExpensesAmt04773773
IRS990/PYOtherRevenueAmt059881
IRS990/PYProgramServiceRevenueAmt010276432
IRS990/PYRevenuesLessExpensesAmt01007736
IRS990/PYSalariesCompEmpBnftPaidAmt04518768
IRS990/PYTotalExpensesAmt010136162
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt011143898
IRS990/ReconcilationRevenueExpnssAmt01234843
IRS990/RegularMonitoringEnfrcInd00
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt027777059
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt029377279
IRS990/SavingsAndTempCashInvstGrp/BOYAmt07481000
IRS990/SavingsAndTempCashInvstGrp/EOYAmt012746000
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt03211404
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0855982
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt04067386
IRS990ScheduleD/EquipmentGrp/BookValueAmt0614668
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01968395
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt02583063
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt01202810
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt01202810
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt035914
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt035914
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt021325
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt021325
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt038206932
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt168597448
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt246582810
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt335145251
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt416009467
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt538481
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt64164000
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/OtherLiabilitiesOrgGrp/Desc6NONMEMBER DEPOSITS
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0AS ALLOWED BY STATE REGULATORY AUTHORITIES, THE AUDIT IS DONE AS OF MARCH 31. THE REPORTING PERIOD FOR THE AUDIT, THEREFORE, DOES NOT MATCH THE REPORTING PERIOD FOR THE 990. PER FOOTNOTE 1 IN THE CREDIT UNION'S MARCH 31, 2020 FINANCIAL STATEMENTS, THE CREDIT UNION IS EXEMPT, UNDER IRC 501 (C) (14), FROM FEDERAL AND STATE INCOME TAXES. CERTAIN PRODUCTS AND SERVICES PROVIDED BY SELECT STATE CHARTERED CREDIT UNIONS HAVE BEEN DEEMED BY THE INTERNAL REVENUE SERVICE (IRS), IN TECHNICAL ADVICE MEMORANDUMS (TAMS) RELEASED IN 2007, TO BE UNRELATED TO THE SPECIFIC ENTITY'S EXEMPT PURPOSE. AS PRESENTED IN THE TECHNICAL ADVICE MEMORANDUMS, THE NET TAXABLE INCOME FROM THESE PRODUCTS AND SERVICES WOULD BE SUBJECT TO INCOME TAXES. CREDIT UNIONS HAVE LITIGATED AGAINST THE IRS POSITIONS NOTED IN THE TAMS AND HAVE BEEN SUCCESSFUL IN HAVING COURTS DECLARE IN 2009 AND 2010 THAT REVENUE FROM INSURANCE PRODUCTS SOLD TO MEMBERS, HELPING THEM PROTECT THEIR FINANCIAL WELLBEING, QUALIFIES AS EXEMPT PURPOSE INCOME, CONTRARY TO THE IRS POSITION IN THE TAMS. THE CREDIT UNION HAS FILED TAX RETURNS IN THE PAST FOR ACTIVITIES IT HAS DEEMED TAXABLE AND HAS NO NET OPERATING LOSS CARRYFORWARD AS OF THE CALENDAR YEAR. THE TAXING AUTHORITIES HAVE THE ABILITY TO ASSESS TAXES, PENALTIES AND INTEREST FOR ANY YEARS FOR WHICH NO TAX RETURN WAS FILED. IN THE OPINION OF MANAGEMENT, ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING INCOME TAXES ON THE NET TAXABLE INCOME FROM ACTIVITIES POTENTIALLY DEEMED TO BE UNRELATED TO THE CREDIT UNION'S EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF MARCH 31, 2020. THE CREDIT UNION'S 2016 THROUGH 2019 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt05028882
IRS990ScheduleD/TotalLiabilityAmt0208744389
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompensationCommitteeInd0X
IRS990ScheduleJ/CompensationSurveyInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0251944
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt1129556
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount052500
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount122973
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt067525
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt06500
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt16500
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt06297
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt14702
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0PHILLIP KOPISCHKE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1JULIE TANNER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1CFO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0384766
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt1163731
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt10
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/ExplanationTxt1PHILLIP KOPISCHKE - PARTICIPATED IN NON-QUALIFIED 457F PLAN - ACCRUAL OF $67,525 IN 2019
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 3
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc1PART I, LINE 4B
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd01
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0KELLI TANNER
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0DAUGHTER OF JULIE TANNER (CFO OF SHAREPOINT CREDIT UNION)
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt043022
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0JULIE TANNER'S DAUGHTER IS AN EMPLOYEE OF SHAREPOINT CREDIT UNION.
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ALAN PEDERSON AND NICHOLAS NELSON - FAMILY RELATIONSHIP JULIE TANNER AND KELLI TANNER - FAMILY RELATIONSHIP
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CREDIT UNION IS COMPRISED OF A SINGLE CLASS OF APPROXIMATELY 23,000 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 22,447. INTERNET, BILL PAY, MOBILE, HOME BANKING 118,038. WEBSITE 35,316. COMPUTER MAINTENANCE 208,450. PROFESSIONAL SERVICES 367,514. EXAM FEES 14,500. ATM EXPNSES 472,000. DATA CENTER EXPENSE 256,548.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8ROUNDING 1.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9AUDITED FINANCIAL STATEMENTS - THE FINANCIAL STATEMENTS WERE AUDITED ON A SEPERATE BASIS AND DONE AS OF MARCH 31. THEREFORE, THE REPORTING PERIOD FOR THE AUDIT DOES NOT MATCH THE REPORTING PERIOD FOR THE 990. THE ORGANIZATION DOES HAVE A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT AND SELECTION OF AN INDEPENDENT ACCOUNTANT.

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$240,631,362
Liabilities
$211,254,083
Net assets
$29,377,279
Revenue
$12,074,874
Expenses
$10,840,031
Net income
$1,234,843
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
2019Detailed filing. Detailed filing data is available for this year.$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