Civic Intelligence

Employees Credit Union

990 • Fiscal year 2013 • EIN 42-0772828

Jan 01, 2013 to Dec 31, 2013 • Filed on May 08, 2014

Organization ProfileWWW.EMPLOYEESCU.COM

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2714 Central AveEstherville, IA 51334

(712) 362-5897

Siviq Scores

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

Liabilities / Assets

12th percentile

0.83x

Higher debt load relative to assets than 12% of similar nonprofits.

2013 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2013

Liabilities / Revenue

69th percentile

20.70x

Higher debt load relative to revenue than 69% of similar nonprofits.

2013 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2013

Net Margin

99th percentile

39%

Higher net margin than 99% of similar nonprofits.

2013 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2013

Top Officer Pay

75th percentile

$161,875

Higher top officer pay than 75% of similar nonprofits.

Top officer pay equals 5.1% of source-year revenue.

2013 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2013

Asset Growth

68th percentile

4.1%

Faster asset growth than 68% of similar nonprofits.

2013 filings • 501(c)14 • $50M-$100M nonprofits • Annualized from 2012 to 2013

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2013

Balance Sheet
Liabilities / Assets12th percentile

Assets

Up

$79,022,782

Up $4,239,526 (+5.7%) from 2011

Net Assets

Up

$13,690,744

Up $2,200,516 (+19%) from 2011

Liabilities

Up

$65,332,038

Up $2,039,010 (+3.2%) from 2011

Revenue And Expenses
Liabilities / Revenue69th percentileNet Margin99th percentile

Revenue

$3,156,470

No earlier filing loaded for comparison.

Expenses

Down

$1,937,979

Down $112,980 (-5.5%) from 2011

Net Income

$1,218,491

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth68th percentile

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

$200M$150M$100M$50M$0Assets 2011: $74,783,256Liabilities 2011: $63,293,028Net Assets 2011: $11,490,2282011Assets 2013: $79,022,782Liabilities 2013: $65,332,038Net Assets 2013: $13,690,7442013Assets 2014: $83,723,629Liabilities 2014: $68,806,035Net Assets 2014: $14,917,5942014Assets 2015: $85,982,836Liabilities 2015: $69,463,347Net Assets 2015: $16,519,4892015Assets 2016: $89,808,852Liabilities 2016: $71,664,233Net Assets 2016: $18,144,6192016Assets 2017: $93,937,316Liabilities 2017: $74,152,832Net Assets 2017: $19,784,4842017Assets 2018: $97,494,304Liabilities 2018: $76,387,841Net Assets 2018: $21,106,4632018Assets 2019: $105,357,507Liabilities 2019: $82,540,801Net Assets 2019: $22,816,7062019Assets 2020: $118,458,064Liabilities 2020: $93,243,915Net Assets 2020: $25,214,1492020Assets 2021: $136,420,831Liabilities 2021: $108,580,384Net Assets 2021: $27,840,4472021Assets 2022: $147,822,214Liabilities 2022: $117,637,107Net Assets 2022: $30,185,1072022Assets 2024: $174,076,159Liabilities 2024: $139,587,351Net Assets 2024: $34,488,8082024

Highlighted filing

2013

Assets$79,022,782
Liabilities$65,332,038
Net Assets$13,690,744
Open 2013 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$15M$10M$5.0M$0Expenses 2011: $2,050,9592011Revenue 2013: $3,156,470Expenses 2013: $1,937,979Net Income 2013: $1,218,4912013Revenue 2014: $3,397,296Expenses 2014: $2,170,446Net Income 2014: $1,226,8502014Revenue 2015: $3,634,208Expenses 2015: $2,032,313Net Income 2015: $1,601,8952015Revenue 2016: $3,882,752Expenses 2016: $2,257,622Net Income 2016: $1,625,1302016Revenue 2017: $4,300,269Expenses 2017: $2,660,404Net Income 2017: $1,639,8652017Revenue 2018: $4,772,825Expenses 2018: $3,450,846Net Income 2018: $1,321,9792018Revenue 2019: $5,485,363Expenses 2019: $3,775,122Net Income 2019: $1,710,2412019Revenue 2020: $5,619,668Expenses 2020: $3,222,225Net Income 2020: $2,397,4432020Revenue 2021: $5,411,301Expenses 2021: $2,785,003Net Income 2021: $2,626,2982021Revenue 2022: $6,217,747Expenses 2022: $3,873,087Net Income 2022: $2,344,6602022Revenue 2024: $10,760,989Expenses 2024: $8,456,816Net Income 2024: $2,304,1732024

Highlighted filing

2013

Revenue$3,156,470
Expenses$1,937,979
Net Income$1,218,491
Open 2013 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
May 8, 2014
Return Version
2013v3.1
Gross Receipts
$3,156,470
Mission and Program Overview

Mission

To be our members optimum service center for their financial needs.

State chartered credit union

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$39,484,583$39,728,855▲ $244,272
Other Notes and Loans Receivable, Net$34,736,494$37,748,111▲ $3,011,617
Rtn Earn Endowment Incm Other Fnds$11,278,068$12,420,154▲ $1,142,086
Pd in Cap Srpls Land Bldg Eqp Fund$1,194,185$1,270,590▲ $76,405
Land, Buildings, and Equipment, Net$234,117$203,770▼ $30,347
Cash and Non-Interest-Bearing Accounts$171,555$170,575▼ $980
Prepaid Expenses and Deferred Charges$52,849$33,364▼ $19,485
Total Assets$75,919,355$79,022,782▲ $3,103,427
Other Assets Total$1,239,757$1,138,107▼ $101,650
Liabilities
Other Liabilities$59,753,078$61,629,487▲ $1,876,409
Mortgage Notes Payable Secured by Investment Property$3,600,000$3,600,000→ $0
Accounts Payable and Accrued Expenses$94,024$102,551▲ $8,527
Total Liabilities$63,447,102$65,332,038▲ $1,884,936
Net Assets / Fund Balance
Total Net Assets Fund Balance$12,472,253$13,690,744▲ $1,218,491
Total Liabilities and Net Assets / Fund Balance$75,919,355$79,022,782▲ $3,103,427

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$18,250$482,499$500,749
Buildings$134,177$349,323$483,500
Land$51,343-$51,343
Compensation and Service Providers
Top Officer Pay75th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Mark PetersCEOFT$122,075$39,800$161,875

Board Members and Trustees

NameTitle
Charles NourseBoard Member
Dan JondleBoard Member
Darwin OlesenBoard Member
Edward MunnBoard Member
Joel JorgensonBoard Member
Lowell SwalveBoard Member
Sheila BorchersBoard Member
Terry ClarkBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,823,357
Investment Income
$333,113
Other Revenue
$0
Change in Net Assets
$1,218,491

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,156,470
Total Revenue per Audited Statements
$3,156,470
Total Revenue per Form 990
$3,156,470
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,312,868
Salaries, Compensation, and Employee Benefits$625,111
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$474,702
Interest---$185,194
Office Expenses---$154,874
All Other Expenses---$84,941
Other Employee Benefits---$75,047
Other Expenses---$51,833
Insurance---$46,500
Pension Plan Contributions---$38,400
Payroll Taxes---$36,962
Depreciation Depletion---$36,107
Advertising---$30,864
Conferences and Meetings---$27,611
Fees for Services Accounting---$23,153
Occupancy---$19,895
Total Functional Expenses$0$0$0$1,937,979

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,937,979
Total Expenses per Audited Statements$1,937,979
Total Expenses per Form 990$1,937,979
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$61,629,487
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 2013.”

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

EIN
42-0772828
Phone
7123625897

Signing Officer

Name
Mark Peters
Title
CEO
Phone
7123625897
Signed
2014-05-08

Organization Details

Principal Officer
Mark Peters
Formed
1947
Voting Board Members
9
Independent Board Members
9
Employees
12
Volunteers
9

Preparer

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 Appendix360 raw XML fields

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

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IRS990ScheduleD/TotalRevenuePerForm990Amt03156470
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt03156470
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01937979
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/ClubDuesOrFeesInd0X
IRS990ScheduleJ/CompensationSurveyInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0122075
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount08000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt031800
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0MARK PETERS
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0161875
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SubstantiationRequiredInd0true
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990ScheduleJ/WrittenPolicyRefTAndEExpnssInd0true
IRS990/ScheduleORequiredInd0true
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 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/ExplanationTxt7THE 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 2013.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8THE 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 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0IA
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt075919355
IRS990/TotalAssetsEOYAmt079022782
IRS990/TotalAssetsGrp/BOYAmt075919355
IRS990/TotalAssetsGrp/EOYAmt079022782
IRS990/TotalCompGreaterThan150KInd0true
IRS990/TotalEmployeeCnt012
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt01937979
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt063447102
IRS990/TotalLiabilitiesEOYAmt065332038
IRS990/TotalLiabilitiesGrp/BOYAmt063447102
IRS990/TotalLiabilitiesGrp/EOYAmt065332038
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt012472253
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt013690744
IRS990/TotalOtherCompensationAmt031800
IRS990/TotalProgramServiceRevenueAmt02823357
IRS990/TotalReportableCompFromOrgAmt0130075
IRS990/TotalRevenueGrp/ExclusionAmt03156470
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt03156470
IRS990/TotalVolunteersCnt09
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt075919355
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt079022782
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine102714 CENTRAL AVE
IRS990/USAddress/City0ESTHERVILLE
IRS990/USAddress/State0IA
IRS990/USAddress/ZIPCode051334
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0WWW.EMPLOYEESCU.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02015-11-30 17:44:51Z
ReturnHeader/BusinessOfficerGrp/PersonNm0MARK PETERS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum07123625897
ReturnHeader/BusinessOfficerGrp/SignatureDt02014-05-08
ReturnHeader/Filer/BusinessName/BusinessNameLine10EMPLOYEES CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0EMPL
ReturnHeader/Filer/EIN0420772828
ReturnHeader/Filer/PhoneNum07123625897
ReturnHeader/Filer/USAddress/AddressLine102714 CENTRAL AVE
ReturnHeader/Filer/USAddress/City0ESTHERVILLE
ReturnHeader/Filer/USAddress/State0IA
ReturnHeader/Filer/USAddress/ZIPCode051334
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10PETERSEN & ASSOCIATES
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine101410 GOLD COAST RD 400
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0PAPILLION
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0NE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode0680465742
ReturnHeader/PreparerPersonGrp/PhoneNum04023332800
ReturnHeader/PreparerPersonGrp/PreparationDt02014-05-09
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0STEVEN O PETERSEN
ReturnHeader/ReturnTs02014-05-09T08:28:50-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-01-01
ReturnHeader/TaxPeriodEndDt02013-12-31
ReturnHeader/TaxYr02013

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
$79,022,782
Liabilities
$65,332,038
Net assets
$13,690,744
Revenue
$3,156,470
Expenses
$1,937,979
Net income
$1,218,491
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$174$140$34.5$10.8$8.46$2.30
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$148$118$30.2$6.22$3.87$2.34
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$136$109$27.8$5.41$2.79$2.63
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$118$93.2$25.2$5.62$3.22$2.40
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$105$82.5$22.8$5.49$3.78$1.71
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$97.5$76.4$21.1$4.77$3.45$1.32
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$93.9$74.2$19.8$4.30$2.66$1.64
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$89.8$71.7$18.1$3.88$2.26$1.63
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$86.0$69.5$16.5$3.63$2.03$1.60
2014Detailed filing. Detailed filing data is available for this year.$83.7$68.8$14.9$3.40$2.17$1.23
2013Detailed filing. Detailed filing data is available for this year.$79.0$65.3$13.7$3.16$1.94$1.22
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$74.8$63.3$11.5$2.05