Civic Intelligence

Midland Credit Union

990 • Fiscal year 2012 • EIN 42-0816632

Jan 01, 2012 to Dec 31, 2012 • Filed on Apr 03, 2013

Organization ProfileWWW.MIDLANDCU.ORG

View Organization Page

2891 106th Street50322
Siviq Scores

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

Liabilities / Assets

28th percentile

0.85x

Higher debt load relative to assets than 28% of similar nonprofits.

2012 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2012

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2012

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on this filing.

Source year 2012

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2012

Asset Growth

Score unavailable

No value available

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

Source year 2012

Revenue Growth

Score unavailable

No value available

No valid filing value is available for this score.

Balance Sheet
Liabilities / Assets28th percentile

Assets

Up

$39,377,789

Up $4,469,558 (+13%) from 2010

Net Assets

Up

$5,829,182

Up $144,055 (+2.5%) from 2010

Liabilities

Up

$33,548,607

Up $4,325,503 (+15%) from 2010

Revenue And Expenses
Liabilities / RevenueScore unavailableNet MarginScore unavailable

Revenue

-

No earlier filing loaded for comparison.

Expenses

Down

$1,994,098

Down $21,327 (-1.1%) from 2010

Net Income

-

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$100M$50M$0Assets 2010: $34,908,231Liabilities 2010: $29,223,104Net Assets 2010: $5,685,1272010Assets 2012: $39,377,789Liabilities 2012: $33,548,607Net Assets 2012: $5,829,1822012Assets 2013: $41,720,304Liabilities 2013: $35,497,108Net Assets 2013: $6,223,1962013Assets 2014: $44,047,408Liabilities 2014: $37,677,903Net Assets 2014: $6,369,5052014Assets 2015: $47,403,096Liabilities 2015: $40,882,347Net Assets 2015: $6,520,7492015Assets 2016: $50,874,813Liabilities 2016: $44,177,117Net Assets 2016: $6,697,6962016Assets 2017: $52,229,958Liabilities 2017: $45,209,396Net Assets 2017: $7,020,5622017Assets 2018: $53,202,747Liabilities 2018: $46,073,297Net Assets 2018: $7,129,4502018Assets 2019: $54,333,029Liabilities 2019: $47,027,626Net Assets 2019: $7,305,4032019Assets 2020: $62,441,065Liabilities 2020: $54,991,524Net Assets 2020: $7,449,5412020Assets 2021: $71,007,624Liabilities 2021: $63,293,078Net Assets 2021: $7,714,5462021Assets 2022: $76,091,305Liabilities 2022: $68,317,220Net Assets 2022: $7,774,0852022Assets 2023: $80,969,879Liabilities 2023: $72,115,310Net Assets 2023: $8,854,5692023Assets 2024: $96,595,408Liabilities 2024: $86,062,055Net Assets 2024: $10,533,3532024

Highlighted filing

2012

Assets$39,377,789
Liabilities$33,548,607
Net Assets$5,829,182
Open 2012 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$6.0M$4.0M$2.0M$0Expenses 2010: $2,015,4252010Expenses 2012: $1,994,0982012Revenue 2013: $2,157,604Expenses 2013: $1,994,416Net Income 2013: $163,1882013Revenue 2014: $2,109,649Expenses 2014: $1,963,340Net Income 2014: $146,3092014Revenue 2015: $2,271,472Expenses 2015: $2,120,228Net Income 2015: $151,2442015Revenue 2016: $2,303,229Expenses 2016: $2,126,282Net Income 2016: $176,9472016Revenue 2017: $2,773,647Expenses 2017: $2,450,780Net Income 2017: $322,8672017Revenue 2018: $2,919,135Expenses 2018: $2,810,247Net Income 2018: $108,8882018Revenue 2019: $2,981,206Expenses 2019: $2,784,043Net Income 2019: $197,1632019Revenue 2020: $2,953,085Expenses 2020: $2,808,947Net Income 2020: $144,1382020Revenue 2021: $3,069,905Expenses 2021: $2,804,900Net Income 2021: $265,0052021Revenue 2022: $3,470,213Expenses 2022: $3,410,674Net Income 2022: $59,5392022Revenue 2023: $4,659,923Expenses 2023: $4,455,396Net Income 2023: $204,5272023Revenue 2024: $5,908,169Expenses 2024: $5,364,662Net Income 2024: $543,5072024

Highlighted filing

2012

Revenue-
Expenses$1,994,098
Net Income-
Open 2012 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2012 to Dec 31, 2012
Signed
Apr 3, 2013
Return Version
2012v2.1
Gross Receipts
$2,049,019
Mission and Program Overview

Mission

People helping people; low cost loans, low cost shares and share drafts, certificates of deposit with rates above banks.

Filing and Contact Details

Filer

EIN
42-0816632
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IRS990ScheduleD/Form990ScheduleDPartXIII/Explanation0IN ACCORDANCE WITH ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES UNDER THE INCOME TAXES TOPIC OF THE FASB ASC THE CREDIT UNION RECOGNIZES ANY UNCERTAIN TAX BENEFITS IF SUCH BENEFITS ARE A RESULT OF A TAX POSITION THAT IS MORE LIKELY THAN NOT SUSTAINABLE UPON EXAMINATION BY FEDERAL OR STATE TAX AUTHORITIES. WHEN AN UNCERTAIN BENEFIT IS DETERMINED TO BE MORE LIKELY THAN NOT SUSTAINED, THE CREDIT UNION VALUES THE POSITION, FOR FINANCIAL STATEMENT PURPOSES, OF THE LARGEST AMOUNT OF THE TAX BENEFIT THAT IS MORE THAN 50% LIKELY OF BEING REALIZED UPON RESOLUTION OF THE BENEFIT. FOR ANY TAX POSITIONS TAKEN THAT DO NOT MEET THE MORE LIKELY THAN NOT CRITERIA, THE CREDIT UNION ESTABLISHES A TAX RESERVE FOR 100% OF THE POSITION TAKEN.
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IRS990ScheduleO/GeneralExplanation/Explanation0MIDLAND CREDIT UNION IS SUPPORTED BY MEMBERS.
IRS990ScheduleO/GeneralExplanation/Explanation1THE MEMBERS OF THE ORGANIZATION HAVE THE RIGHT TO VOTE FOR ONE OR MORE MEMBERS OF THE GOVERNING BODY AT ANNUAL MEETINGS.
IRS990ScheduleO/GeneralExplanation/Explanation2CHANGES TO THE BYLAWAS ARE AT TIMES APPROVED BY THE MEMBERS EITHER AT THE ANNUAL MEETING OR SPECIAL MEETINGS HELD.
IRS990ScheduleO/GeneralExplanation/Explanation3THE CEO WORKS CLOSELY WITH THE AUDITORS IN PROVIDING THE NECESSARY FINANCIAL INFORMATION TO PREPARE A FINANCIAL AUDIT. THE TAX RETURN IS BASED UPON THE AUDITED FINANCIAL STATEMENTS. UPON COMPLETION OF THE 990 RETURN THE CEO WILL DO A THOROUGH REVIEW AND SIGN.
IRS990ScheduleO/GeneralExplanation/Explanation4MIDLAND CREDIT UNION'S COMPENSATION PROGRAM CONSISTS OF THESE STEPS: 1) AN OUTSIDE SERVICE PROVIDES THE ORGANIZATION WITH SURVEY THAT IS USED AS A BENCHMARK FOR THEIR ENTIRE ORGANIZATION 2)COMPENSATION FOR CEO IS APPROVED BY THE BOARD 3)COMPENSATION FOR THE REST OF THE STAFF IS SET BY THE CEO WITHIN THE BOARD APPROVED BUDGET. THROUGH THE ENTIRE PROCESS THERE IS CONTEMPORANEOUS SUBSTANIATION OF THE DELIBERATION AND DECISION.
IRS990ScheduleO/GeneralExplanation/Explanation5FINANCIAL STATEMENTS ARE POSTED IN THE LOBBIES. THE ORGANIZATION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/GeneralExplanation/Explanation6MIDLAND CREDIT UNION HAS AN AUDIT COMMITTEE THAT OVERSEAS THE AUDIT PROCESS AND SELECTION OF ITS AUDITORS. THE AUDIT COMMITTEE WILL ALSO REVIEW THE ISSUED AUDITED FINANCIAL STATEMENTS WITH THE AUDITOR UPON COMPLETION.
IRS990ScheduleO/GeneralExplanation/ReturnReference0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/GeneralExplanation/ReturnReference1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/GeneralExplanation/ReturnReference2FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/GeneralExplanation/ReturnReference3FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/GeneralExplanation/ReturnReference4FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/GeneralExplanation/ReturnReference5FORM 990, PART VI, SECTION C, LINE 19
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IRS990/TheBooksAreInCareOf/NameBusiness/BusinessNameLine10BECKY DEVRIES
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IRS990/TotalNbrVolunteers00
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Document Assets

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Filings

Displayed year

2012 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$39,377,789
Liabilities
$33,548,607
Net assets
$5,829,182
Revenue
-
Expenses
$1,994,098
Net income
-
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$96.6$86.1$10.5$5.91$5.36$0.54
2023Detailed filing. Detailed filing data is available for this year.$81.0$72.1$8.85$4.66$4.46$0.20
2022Detailed filing. Detailed filing data is available for this year.$76.1$68.3$7.77$3.47$3.41$0.06
2021Detailed filing. Detailed filing data is available for this year.$71.0$63.3$7.71$3.07$2.80$0.27
2020Detailed filing. Detailed filing data is available for this year.$62.4$55.0$7.45$2.95$2.81$0.14
2019Detailed filing. Detailed filing data is available for this year.$54.3$47.0$7.31$2.98$2.78$0.20
2018Detailed filing. Detailed filing data is available for this year.$53.2$46.1$7.13$2.92$2.81$0.11
2017Detailed filing. Detailed filing data is available for this year.$52.2$45.2$7.02$2.77$2.45$0.32
2016Detailed filing. Detailed filing data is available for this year.$50.9$44.2$6.70$2.30$2.13$0.18
2015Detailed filing. Detailed filing data is available for this year.$47.4$40.9$6.52$2.27$2.12$0.15
2014Detailed filing. Detailed filing data is available for this year.$44.0$37.7$6.37$2.11$1.96$0.15
2013Detailed filing. Detailed filing data is available for this year.$41.7$35.5$6.22$2.16$1.99$0.16
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$39.4$33.5$5.83$1.99
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$34.9$29.2$5.69$2.02