Civic Intelligence

Unknown Organization

EIN 42-0587485 • 501(c)14 • Waterloo, IA

Profile

State chartered credit union

PO Box 1167Waterloo, IA 50704

www.mwfecu.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

60th percentile

0.87x

Higher debt load relative to assets than 60% of similar nonprofits.

501(c)14 • $5M-$10M nonprofits • Source year 2014

Liabilities / Revenue

92nd percentile

33.86x

Higher debt load relative to revenue than 92% of similar nonprofits.

501(c)14 • $5M-$10M nonprofits • Source year 2014

Net Margin

27th percentile

-7.5%

Higher net margin than 27% of similar nonprofits.

501(c)14 • $5M-$10M nonprofits • Source year 2014

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

25th percentile

-6.7%

Faster asset growth than 25% of similar nonprofits.

501(c)14 • $5M-$10M nonprofits • Annualized from 2013 to 2014

Revenue Growth

23rd percentile

-5.5%

Faster revenue growth than 23% of similar nonprofits.

501(c)14 • $5M-$10M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets60th percentile

Assets

Down

$7,220,801

Down $519,474 (-6.7%) from 2013

Liabilities

Down

$6,270,068

Down $505,513 (-7.5%) from 2013

Net Assets

Down

$950,733

Down $13,961 (-1.4%) from 2013

Operations
Liabilities / Revenue92nd percentileNet Margin27th percentile

Revenue

Down

$185,161

Down $10,679 (-5.5%) from 2013

Expenses

Down

$199,122

Down $27,713 (-12%) from 2013

Net Income

Up

-$13,961

Up $17,034 (+55%) from 2013

Trend Graphs

Balance Sheet Trend

Asset Growth25th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$10M$5.0M$0Assets 2010: $8,202,079Liabilities 2010: $7,216,851Net Assets 2010: $985,2282010Assets 2011: $7,675,937Liabilities 2011: $6,683,882Net Assets 2011: $992,0552011Assets 2012: $8,043,645Liabilities 2012: $7,047,956Net Assets 2012: $995,6892012Assets 2013: $7,740,275Liabilities 2013: $6,775,581Net Assets 2013: $964,6942013Assets 2014: $7,220,801Liabilities 2014: $6,270,068Net Assets 2014: $950,7332014

Highlighted filing

2014

Assets$7,220,801
Liabilities$6,270,068
Net Assets$950,733
Open 2014 Filing

Operations Trend

Revenue Growth23rd percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$300K$200K$100K$0-$100KExpenses 2010: $296,0122010Expenses 2011: $264,7822011Expenses 2012: $246,5102012Revenue 2013: $195,840Expenses 2013: $226,835Net Income 2013: -$30,9952013Revenue 2014: $185,161Expenses 2014: $199,122Net Income 2014: -$13,9612014

Highlighted filing

2014

Revenue$185,161
Expenses$199,122
Net Income-$13,961
Open 2014 Filing

Filings

Most recent year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$7,220,801
Liabilities
$6,270,068
Net assets
$950,733
Revenue
$185,161
Expenses
$199,122
Net income
-$13,961
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2014Detailed filing. Detailed filing data is available for this year.$7.22$6.27$0.95$0.19$0.20$0.01
2013Detailed filing. Detailed filing data is available for this year.$7.74$6.78$0.96$0.20$0.23$0.03
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.04$7.05$1.00$0.25
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.68$6.68$0.99$0.26
2010XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.20$7.22$0.99$0.30
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Apr 27, 2015
Return Version
2014v5.0
Gross Receipts
$185,161
Mission and Program Overview

Mission

State chartered credit union

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$6,104,080$5,654,374▼ $449,706
Other Notes and Loans Receivable, Net$1,521,677$1,422,610▼ $99,067
Rtn Earn Endowment Incm Other Fnds$787,402$773,441▼ $13,961
Pd in Cap Srpls Land Bldg Eqp Fund$177,292$177,292→ $0
Cash and Non-Interest-Bearing Accounts$39,715$72,261▲ $32,546
Accounts Receivable$241$863▲ $622
Prepaid Expenses and Deferred Charges$434$434→ $0
Land, Buildings, and Equipment, Net$327--
Total Assets$7,740,275$7,220,801▼ $519,474
Other Assets Total$73,801$70,259▼ $3,542
Liabilities
Other Liabilities$6,770,122$6,260,838▼ $509,284
Accounts Payable and Accrued Expenses$5,459$9,230▲ $3,771
Total Liabilities$6,775,581$6,270,068▼ $505,513
Net Assets / Fund Balance
Total Net Assets Fund Balance$964,694$950,733▼ $13,961
Total Liabilities and Net Assets / Fund Balance$7,740,275$7,220,801▼ $519,474

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$42,571$42,571
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Daryl SeyfferBoard Member
David ColeBoard Member
Jennifer ThedeBoard Member
Larry WaltersBoard Member
Neil JacksonBoard Member
Patti SorgeBoard Member
Raymond LeitzBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$133,060
Investment Income
$52,101
Other Revenue
$0
Change in Net Assets
$-13,961
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$112,095
Salaries, Compensation, and Employee Benefits$87,027
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$70,206
Office Expenses---$44,304
All Other Expenses---$13,456
Other Employee Benefits---$11,346
Insurance---$8,676
Other Expenses---$7,760
Payroll Taxes---$5,475
Fees for Services Legal---$800
Advertising---$784
Fees for Services Accounting---$760
Occupancy---$686
Conferences and Meetings---$360
Depreciation Depletion---$327
Total Functional Expenses$0$0$0$199,122
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$6,260,838
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

“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 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 2014.”

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
Midwest Federal Employees
EIN
42-0587485
Phone
3192334723
Address
PO BOX 1167, WATERLOO, IA 50704

Signing Officer

Name
Paula Kresser
Title
Manager
Phone
3192334723
Signed
2015-04-27

Organization Details

Principal Officer
Paula Kresser
Formed
1930
Legal Domicile
Ia
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
7

Preparer

Firm
Petersen & Associates
Address
1410 GOLD COAST RD 400, PAPILLION, NE 68046-5742
Preparer
Steven O Petersen
Phone
4023332800
Supplemental Narrative

Additional Explanations

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

“N/A”

Form 990, Page 5, Part V, Line 3B

“The credit union provides financial services to its members. All income and expenses are deemed related to the overall objective of member services.”

Raw XML Appendix310 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
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IRS990/BooksInCareOfDetail/PhoneNum03192334723
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IRS990/BooksInCareOfDetail/USAddress/ZIPCd050704
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IRS990/Form990PartVIISectionAGrp/PersonNm6DARYL SEYFFER
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/TitleTxt0BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt1BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt2BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt3BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt4BOARD MEMBER
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IRS990/Form990ProvidedToGvrnBodyInd0false
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IRS990/FSAuditedInd0false
IRS990/FundraisingActivitiesInd0false
IRS990/GamingActivitiesInd0false
IRS990/GoverningBodyVotingMembersCnt07
IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossReceiptsAmt0185161
IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0false
IRS990/IndependentAuditFinclStmtInd0false
IRS990/IndependentVotingMemberCnt07
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartIIIInd0X
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IRS990/InsuranceGrp/TotalAmt08676
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IRS990/IRPDocumentCnt0190
IRS990/IRPDocumentW2GCnt00
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IRS990/LegalDomicileStateCd0IA
IRS990/LoanOutstandingInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
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IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
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IRS990/MissionDesc0STATE CHARTERED CREDIT UNION
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/NetAssetsOrFundBalancesBOYAmt0964694
IRS990/NetAssetsOrFundBalancesEOYAmt0950733
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
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IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
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IRS990/OtherExpensesGrp/Desc1PROVISION FOR LOAN LOSS
IRS990/OtherExpensesGrp/Desc2DIVIDEND EXPENSE
IRS990/OtherExpensesGrp/Desc3OTHER PROFESSIONAL SERVIC
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0N/A
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CREDIT UNION PROVIDES FINANCIAL SERVICES TO ITS MEMBERS. ALL INCOME AND EXPENSES ARE DEEMED RELATED TO THE OVERALL OBJECTIVE OF MEMBER SERVICES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL DEPOSITORS ARE CONSIDERED MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE CREDIT UNION MEMBERS ELECT ON AN ANNUAL BASIS THE MEMBERS OF THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ANY PROPOSED MERGERS MUST BE APPROVED BY A MAJORITY OF THE MEMBERSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5NO REVIEW WAS OR WILL BE CONDUCTED.
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 2014.
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/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 5, PART V, LINE 3B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TypeOfOrganizationCorpInd0X
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IRS990/USAddress/AddressLine1Txt0PO BOX 1167
IRS990/USAddress/CityNm0WATERLOO
IRS990/USAddress/StateAbbreviationCd0IA
IRS990/USAddress/ZIPCd050704
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0WWW.MWFECU.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-03-07 17:11:31Z
ReturnHeader/BusinessOfficerGrp/PersonNm0PAULA KRESSER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0MANAGER
ReturnHeader/BusinessOfficerGrp/PhoneNum03192334723
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-04-27
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MIDWEST FEDERAL EMPLOYEES
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0MIDW
ReturnHeader/Filer/EIN0420587485
ReturnHeader/Filer/PhoneNum03192334723
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 1167
ReturnHeader/Filer/USAddress/CityNm0WATERLOO
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IA
ReturnHeader/Filer/USAddress/ZIPCd050704
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0470749138
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0PETERSEN & ASSOCIATES
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01410 GOLD COAST RD 400
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0PAPILLION
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0680465742
ReturnHeader/PreparerPersonGrp/PhoneNum04023332800
ReturnHeader/PreparerPersonGrp/PreparationDt02015-05-04
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0STEVEN O PETERSEN
ReturnHeader/ReturnTs02015-05-04T09:02:51-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-01-01
ReturnHeader/TaxPeriodEndDt02014-12-31
ReturnHeader/TaxYr02014

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