Civic Intelligence

First Class Community Credit Union

990 • Fiscal year 2017 • EIN 42-0214790

Jan 01, 2017 to Dec 31, 2017 • Filed on May 04, 2018

2051 Westown ParkwayWest Des Moines, IA 50265

(515) 224-4300

Siviq Scores

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

Liabilities / Assets

83rd percentile

0.91x

Higher debt load relative to assets than 83% of similar nonprofits.

2017 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2017

Liabilities / Revenue

42nd percentile

18.06x

Higher debt load relative to revenue than 42% of similar nonprofits.

2017 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2017

Net Margin

28th percentile

4.5%

Higher net margin than 28% of similar nonprofits.

2017 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2017

Top Officer Pay

5th percentile

$0

Higher top officer pay than 5% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2017 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2017

Asset Growth

16th percentile

-0.8%

Faster asset growth than 16% of similar nonprofits.

2017 filings • 501(c)14 • $50M-$100M nonprofits • Annualized from 2016 to 2017

Revenue Growth

37th percentile

3.8%

Faster revenue growth than 37% of similar nonprofits.

2017 filings • 501(c)14 • $50M-$100M nonprofits • Annualized from 2016 to 2017

Assets

Down

$73,773,178

Down $585,013 (-0.8%) from 2016

Net Assets

Up

$6,363,839

Up $167,051 (+2.7%) from 2016

Liabilities

Down

$67,409,339

Down $752,064 (-1.1%) from 2016

Revenue

Up

$3,732,106

Up $138,068 (+3.8%) from 2016

Expenses

Up

$3,565,838

Up $76,855 (+2.2%) from 2016

Net Income

Up

$166,268

Up $61,213 (+58%) from 2016

Historical Trend

Balance Sheet Trend

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

$150M$100M$50M$0Assets 2010: $53,626,187Liabilities 2010: $48,161,909Net Assets 2010: $5,464,2782010Assets 2011: $57,996,502Liabilities 2011: $52,435,822Net Assets 2011: $5,560,6802011Assets 2012: $63,482,542Liabilities 2012: $57,723,350Net Assets 2012: $5,759,1922012Assets 2014: $65,889,763Liabilities 2014: $59,686,043Net Assets 2014: $6,203,7202014Assets 2015: $70,778,764Liabilities 2015: $64,504,260Net Assets 2015: $6,274,5042015Assets 2016: $74,358,191Liabilities 2016: $68,161,403Net Assets 2016: $6,196,7882016Assets 2017: $73,773,178Liabilities 2017: $67,409,339Net Assets 2017: $6,363,8392017Assets 2018: $76,769,620Liabilities 2018: $69,963,092Net Assets 2018: $6,806,5282018Assets 2019: $79,791,069Liabilities 2019: $72,666,588Net Assets 2019: $7,124,4812019Assets 2020: $93,065,481Liabilities 2020: $85,797,450Net Assets 2020: $7,268,0312020Assets 2021: $100,427,061Liabilities 2021: $93,527,079Net Assets 2021: $6,899,9822021Assets 2022: $99,378,905Liabilities 2022: $94,816,181Net Assets 2022: $4,562,7242022Assets 2023: $93,363,952Liabilities 2023: $87,241,832Net Assets 2023: $6,122,1202023Assets 2024: $94,426,306Liabilities 2024: $87,110,947Net Assets 2024: $7,315,3592024

Highlighted filing

2017

Assets$73,773,178
Liabilities$67,409,339
Net Assets$6,363,839

Operations Trend

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

$6.0M$4.0M$2.0M$0Expenses 2010: $4,400,1602010Expenses 2011: $3,428,4782011Expenses 2012: $3,338,0562012Revenue 2014: $3,674,766Expenses 2014: $3,412,246Net Income 2014: $262,5202014Revenue 2015: $3,808,349Expenses 2015: $3,742,589Net Income 2015: $65,7602015Revenue 2016: $3,594,038Expenses 2016: $3,488,983Net Income 2016: $105,0552016Revenue 2017: $3,732,106Expenses 2017: $3,565,838Net Income 2017: $166,2682017Revenue 2018: $4,082,166Expenses 2018: $3,773,201Net Income 2018: $308,9652018Revenue 2019: $4,462,839Expenses 2019: $4,228,044Net Income 2019: $234,7952019Revenue 2020: $4,247,644Expenses 2020: $4,134,034Net Income 2020: $113,6102020Revenue 2021: $4,085,344Expenses 2021: $3,976,393Net Income 2021: $108,9512021Revenue 2022: $4,390,414Expenses 2022: $4,029,698Net Income 2022: $360,7162022Revenue 2023: $4,761,310Expenses 2023: $4,229,685Net Income 2023: $531,6252023Revenue 2024: $4,799,945Expenses 2024: $4,410,729Net Income 2024: $389,2162024

Highlighted filing

2017

Revenue$3,732,106
Expenses$3,565,838
Net Income$166,268
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
May 4, 2018
Return Version
2017v2.3
Gross Receipts
$3,732,106
Mission and Program Overview

Mission

State chartered credit union

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$37,873,454$37,344,408▼ $529,046
Savings and Temporary Cash Investments$21,025,585$19,587,009▼ $1,438,576
Investments in Publicly Traded Securities$10,626,182$11,946,121▲ $1,319,939
Pd in Cap Srpls Land Bldg Eqp Fund$5,580,618$5,599,470▲ $18,852
Land, Buildings, and Equipment, Net$1,373,484$1,264,556▼ $108,928
Cash and Non-Interest-Bearing Accounts$878,444$848,669▼ $29,775
Rtn Earn Endowment Incm Other Fnds$616,170$764,369▲ $148,199
Prepaid Expenses and Deferred Charges$98,314$220,698▲ $122,384
Accounts Receivable$18,105$8,022▼ $10,083
Total Assets$74,358,191$73,773,178▼ $585,013
Other Assets Total$2,464,623$2,553,695▲ $89,072
Liabilities
Other Liabilities$66,570,439$65,858,142▼ $712,297
Accounts Payable and Accrued Expenses$1,590,964$1,551,197▼ $39,767
Total Liabilities$68,161,403$67,409,339▼ $752,064
Net Assets / Fund Balance
Total Net Assets Fund Balance$6,196,788$6,363,839▲ $167,051
Total Liabilities and Net Assets / Fund Balance$74,358,191$73,773,178▼ $585,013

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$662,964$1,841,796$2,504,760
Equipment$139,960$679,620$819,580
Land$461,632-$461,632
Compensation and Service Providers

Board Members and Trustees

NameTitle
Carol CowlingBoard Member
Craig DosterBoard Member
Francis MoweryBoard Member
Gary OlsonBoard Member
James GearhartBoard Member
Kevin BeenerBoard Member
Lance ColesBoard Member
Larry MooreBoard Member
Marc SwansonBoard Member
Matt MainBoard Member
Patricia TonsiBoard Member
Randy PelhamBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$3,259,530
Investment Income
$472,576
Other Revenue
$0
Change in Net Assets
$166,268

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,732,106
Total Revenue per Audited Statements
$3,732,106
Total Revenue per Form 990
$3,732,106
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,409,797
Salaries, Compensation, and Employee Benefits$1,156,041
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$905,141
All Other Expenses---$337,963
Office Expenses---$271,876
Other Expenses---$258,322
Depreciation Depletion---$194,921
Occupancy---$124,736
Other Employee Benefits---$108,329
Advertising---$104,004
Payroll Taxes---$80,744
Pension Plan Contributions---$61,827
Insurance---$52,748
Conferences and Meetings---$32,390
Fees for Services Accounting---$24,129
Fees for Services Legal---$22,400
Total Functional Expenses$0$0$0$3,565,838

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,565,838
Total Expenses per Audited Statements$3,565,838
Total Expenses per Form 990$3,565,838
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 Deposits$65,858,142
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
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

All depositors are considered members.

Form 990, Page 6, Part VI, Line 7A

The credit union members elect on an annual basis the members of the board of directors.

Form 990, Page 6, Part VI, Line 7B

Any proposed mergers must be approved by a majority of the membership.

Form 990, Page 6, Part VI, Line 11B

No review was or will be conducted.

Form 990, Page 6, Part VI, Line 12C

The security matrix on the data processing system prohibits employees and directors from initiating transactions on all accounts listed on their conflict of interest disclosure statement, which is updated annually.

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

The process for determining compensation for the ceo includes a comparison of compensation for similarly qualified persons in comparable positions, review and approval by the board of directors and is documented in the board minutes. The last review was conducted in december 2017.

Form 990, Page 6, Part VI, Line 19

The monthly financial statements are posted in the lobby and are updated on a monthly basis. The governing documents and conflict of interest policy are made available upon request.

Filing and Contact Details

Filer

Filer Name
First Class Community Credit Union
EIN
42-0214790
Phone
5152244300
Address
2051 WESTOWN PARKWAY, WEST DES MOINES, IA 50265

Signing Officer

Name
Kathleen Sukup
Title
CFO
Phone
5152244300
Signed
2018-05-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Zac Pollock
Formed
1925
Legal Domicile
Ia
Voting Board Members
12
Independent Board Members
12
Employees
27
Volunteers
12

Preparer

Firm
Petersen & Associates
Address
506 E GOLD COAST RD STE 100, PAPILLION, NE 68046-4790
Preparer
Steven O Petersen
Phone
4023332800
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

N/A

Form 990, Part XI, Line 9

Net change in investment valuation reserve 783

Raw XML Appendix376 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/PYSalariesCompEmpBnftPaidAmt01128029
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALL DEPOSITORS ARE CONSIDERED MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE CREDIT UNION MEMBERS ELECT ON AN ANNUAL BASIS THE MEMBERS OF THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ANY PROPOSED MERGERS MUST BE APPROVED BY A MAJORITY OF THE MEMBERSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE SECURITY MATRIX ON THE DATA PROCESSING SYSTEM PROHIBITS EMPLOYEES AND DIRECTORS FROM INITIATING TRANSACTIONS ON ALL ACCOUNTS LISTED ON THEIR CONFLICT OF INTEREST DISCLOSURE STATEMENT, WHICH IS UPDATED ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE PROCESS FOR DETERMINING COMPENSATION FOR THE CEO INCLUDES A COMPARISON OF COMPENSATION FOR SIMILARLY QUALIFIED PERSONS IN COMPARABLE POSITIONS, REVIEW AND APPROVAL BY THE BOARD OF DIRECTORS AND IS DOCUMENTED IN THE BOARD MINUTES. THE LAST REVIEW WAS CONDUCTED IN DECEMBER 2017.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE MONTHLY FINANCIAL STATEMENTS ARE POSTED IN THE LOBBY AND ARE UPDATED ON A MONTHLY BASIS. THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE MADE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8NET CHANGE IN INVESTMENT VALUATION RESERVE 783
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PART XI, LINE 9
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IRS990/TotalProgramServiceRevenueAmt03259530
IRS990/TotalRevenueGrp/ExclusionAmt03732106
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt03732106
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt073773178
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IRS990/USAddress/CityNm0DES MOINES
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IRS990/WebsiteAddressTxt0WWW.GOFIRSTCLASS.ORG
IRS990/WhistleblowerPolicyInd0false
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ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0KATHLEEN SUKUP
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CFO
ReturnHeader/BusinessOfficerGrp/PhoneNum05152244300
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-05-04
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FIRST CLASS COMMUNITY CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0FIRS
ReturnHeader/Filer/EIN0420214790
ReturnHeader/Filer/PhoneNum05152244300
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ReturnHeader/Filer/USAddress/CityNm0WEST DES MOINES
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ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0AA5E5617F0C7F7CF9897F415F01B95D9C4C9C7A2
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0AA5E5617F0C7F7CF9897F415F01B95D9C4C9C7A2
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt070.167.146.228
ReturnHeader/FilingSecurityInformation/IPDt02018-05-11
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm010:23:56
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0470749138
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0PETERSEN & ASSOCIATES
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0506 E GOLD COAST RD STE 100
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0PAPILLION
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0680464790
ReturnHeader/PreparerPersonGrp/PhoneNum04023332800
ReturnHeader/PreparerPersonGrp/PreparationDt02018-05-11
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0STEVEN O PETERSEN
ReturnHeader/ReturnTs02018-05-11T10:23:56-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$94.4$87.1$7.32$4.80$4.41$0.39
2023Detailed filing. Detailed filing data is available for this year.$93.4$87.2$6.12$4.76$4.23$0.53
2022Detailed filing. Detailed filing data is available for this year.$99.4$94.8$4.56$4.39$4.03$0.36
2021Detailed filing. Detailed filing data is available for this year.$100$93.5$6.90$4.09$3.98$0.11
2020Detailed filing. Detailed filing data is available for this year.$93.1$85.8$7.27$4.25$4.13$0.11
2019Detailed filing. Detailed filing data is available for this year.$79.8$72.7$7.12$4.46$4.23$0.23
2018Detailed filing. Detailed filing data is available for this year.$76.8$70.0$6.81$4.08$3.77$0.31
2017Detailed filing. Detailed filing data is available for this year.$73.8$67.4$6.36$3.73$3.57$0.17
2016Detailed filing. Detailed filing data is available for this year.$74.4$68.2$6.20$3.59$3.49$0.11
2015Detailed filing. Detailed filing data is available for this year.$70.8$64.5$6.27$3.81$3.74$0.07
2014Detailed filing. Detailed filing data is available for this year.$65.9$59.7$6.20$3.67$3.41$0.26
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$63.5$57.7$5.76$3.34
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$58.0$52.4$5.56$3.43
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$53.6$48.2$5.46$4.40