Civic Intelligence

Midland Credit Union

990 • Fiscal year 2013 • EIN 42-0816632

Jan 01, 2013 to Dec 31, 2013 • Filed on May 04, 2014

Organization ProfileWWW.MIDLANDCU.ORG

View Organization Page

2891 106th StreetUrbandale, IA 50322

(515) 278-1994

Siviq Scores

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

Liabilities / Assets

26th percentile

0.85x

Higher debt load relative to assets than 26% of similar nonprofits.

2013 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2013

Liabilities / Revenue

29th percentile

16.45x

Higher debt load relative to revenue than 29% of similar nonprofits.

2013 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2013

Net Margin

56th percentile

7.6%

Higher net margin than 56% of similar nonprofits.

2013 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2013

Top Officer Pay

65th percentile

$106,891

Higher top officer pay than 65% of similar nonprofits.

Top officer pay equals 5.0% of source-year revenue.

2013 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2013

Asset Growth

84th percentile

5.9%

Faster asset growth than 84% of similar nonprofits.

2013 filings • 501(c)14 • $25M-$50M 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 / Assets26th percentile

Assets

Up

$41,720,304

Up $2,342,515 (+5.9%) from 2012

Net Assets

Up

$6,223,196

Up $394,014 (+6.8%) from 2012

Liabilities

Up

$35,497,108

Up $1,948,501 (+5.8%) from 2012

Revenue And Expenses
Liabilities / Revenue29th percentileNet Margin56th percentile

Revenue

$2,157,604

No earlier filing loaded for comparison.

Expenses

Up

$1,994,416

Up $318 (+0.0%) from 2012

Net Income

$163,188

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth84th percentile

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

2013

Assets$41,720,304
Liabilities$35,497,108
Net Assets$6,223,196
Open 2013 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

2013

Revenue$2,157,604
Expenses$1,994,416
Net Income$163,188
Open 2013 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
May 4, 2014
Return Version
2013v3.0
Gross Receipts
$2,291,814
Mission and Program Overview

Mission

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

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$23,914,661$27,066,143▲ $3,151,482
Investments Program Related$10,160,516$8,195,981▼ $1,964,535
Savings and Temporary Cash Investments$3,681,024$4,862,046▲ $1,181,022
Rtn Earn Endowment Incm Other Fnds$4,427,821$4,721,835▲ $294,014
Pd in Cap Srpls Land Bldg Eqp Fund$1,401,361$1,501,361▲ $100,000
Land, Buildings, and Equipment, Net$692,241$684,017▼ $8,224
Cash and Non-Interest-Bearing Accounts$266,631$298,278▲ $31,647
Prepaid Expenses and Deferred Charges$60,456$101,183▲ $40,727
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$39,377,789$41,720,304▲ $2,342,515
Other Assets Total$602,260$512,656▼ $89,604
Liabilities
Other Liabilities$33,310,845$35,242,881▲ $1,932,036
Accounts Payable and Accrued Expenses$237,762$254,227▲ $16,465
Total Liabilities$33,548,607$35,497,108▲ $1,948,501
Net Assets / Fund Balance
Total Net Assets Fund Balance$5,829,182$6,223,196▲ $394,014
Total Liabilities and Net Assets / Fund Balance$39,377,789$41,720,304▲ $2,342,515

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$366,795$367,081$733,876
Equipment$122,107$229,182$351,289
Other Land Buildings$33,751$121,183$154,934
Land$140,000-$140,000
Leasehold Improvements$21,364$73,139$94,503
Investment Program Related Org$7,345,981--
Compensation and Service Providers
Top Officer Pay65th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Rebecca R DevriesCEOFT$96,992$9,899$106,891
Holly BernalCOOFT$75,407$10,555$85,962

Board Members and Trustees

NameTitle
Linda GastAudit Chair
Warren AldrichChair
Steven CorreaCredit Chair
Dale MccleishVice Chair
Steve SeamenAudit Committee
Zachary SmithAudit Committee
Norman TrentmannCFO
Paul MitchellCredit Committee
Timothy StovieCredit Committee
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,278,035
Investment Income
$149,166
Other Revenue
$730,403
Change in Net Assets
$163,188

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,157,604
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$2,157,604
Total Revenue per Form 990
$2,157,604
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,138,500
Salaries, Compensation, and Employee Benefits$855,916
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$533,944--$533,944
Current Officers, Directors, Trustees, and Key Employees$192,853--$192,853
All Other Expenses$154,682--$154,682
Office Expenses$151,139--$151,139
Interest$136,549--$136,549
Occupancy$103,086--$103,086
Information Technology$97,956--$97,956
Depreciation Depletion$81,173--$81,173
Payroll Taxes$61,984--$61,984
Advertising$51,004--$51,004
Other Employee Benefits$50,729--$50,729
Insurance$34,258--$34,258
Payments to Affiliates$19,937--$19,937
Conferences and Meetings$18,001--$18,001
Fees for Services Accounting$17,850--$17,850
Pension Plan Contributions$16,406--$16,406
Other Expenses$1,972--$1,972
Travel$694--$694
Total Functional Expenses$1,994,416$0$0$1,994,416

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,994,416
Total Expenses per Audited Statements$1,994,416
Total Expenses per Form 990$1,994,416
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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 Shares$35,242,881
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 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
Yes
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 6

“Midland credit union is supported by members.”

Form 990, Part VI, Section A, Line 7A

“The members of the organization have the right to vote for one or more members of the governing body at annual meetings.”

Form 990, Part VI, Section A, Line 7B

“Changes to the bylawas are at times approved by the members either at the annual meeting or special meetings held.”

Form 990, Part VI, Section B, Line 11

“The 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.”

Form 990, Part VI, Section B, Line 15

“Midland 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.”

Form 990, Part VI, Section C, Line 19

“Financial statements are posted in the lobbies. The organization's governing documents and conflict of interest policy are available upon request.”

Filing and Contact Details

Filer

EIN
42-0816632
Phone
5152781994

Signing Officer

Name
Becky Devries
Title
CEO
Phone
5152781994
Signed
2014-05-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Becky Devries
Formed
1933
Legal Domicile
Ia
Voting Board Members
9
Independent Board Members
9
Employees
23
Volunteers
0

Preparer

Preparer
C L Telk Jr CPA
Phone
5152701446
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Equity acquired from merger 230,829. Rounding -3.”

FORM 990, PART XII, LINE 2C:

“Midland 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.”

Financial Statement Notes

Form 990 Supplemental Information - Part XIII

“In 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.”

Raw XML AppendixShowing 400 of 433 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/MissionDesc0PEOPLE HELPING PEOPLE; LOW COST LOANS, LOW COST SHARES AND SHARE DRAFTS, CERTIFICATES OF DEPOSIT WITH RATES ABOVE BANKS.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt05829182
IRS990/NetAssetsOrFundBalancesEOYAmt06223196
IRS990/NetGainOrLossInvestmentsGrp/RelatedOrExemptFuncIncomeAmt06042
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt06042
IRS990/NetUnrelatedBusTxblIncmAmt0-8814
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ProgramServicesAmt0103086
IRS990/OccupancyGrp/TotalAmt0103086
IRS990/OfficeExpensesGrp/ProgramServicesAmt0151139
IRS990/OfficeExpensesGrp/TotalAmt0151139
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0602260
IRS990/OtherAssetsTotalGrp/EOYAmt0512656
IRS990/OtherChangesInNetAssetsAmt0230826
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt050729
IRS990/OtherEmployeeBenefitsGrp/TotalAmt050729
IRS990/OtherExpensesGrp/Desc0DEBIT/CREDIT CARD EXPEN
IRS990/OtherExpensesGrp/Desc1NCUA SHARE INSURANCE
IRS990/OtherExpensesGrp/Desc2RENTAL EXPENSE
IRS990/OtherExpensesGrp/ProgramServicesAmt0242109
IRS990/OtherExpensesGrp/ProgramServicesAmt128090
IRS990/OtherExpensesGrp/ProgramServicesAmt21972
IRS990/OtherExpensesGrp/TotalAmt0242109
IRS990/OtherExpensesGrp/TotalAmt128090
IRS990/OtherExpensesGrp/TotalAmt21972
IRS990/OtherLiabilitiesGrp/BOYAmt033310845
IRS990/OtherLiabilitiesGrp/EOYAmt035242881
IRS990/OtherRevenueMiscGrp/BusinessCd0522100
IRS990/OtherRevenueMiscGrp/BusinessCd1522100
IRS990/OtherRevenueMiscGrp/Desc0CREDIT/DEBIT CARD
IRS990/OtherRevenueMiscGrp/Desc1NSF CHARGES
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt0290386
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt1191488
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0290386
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt1191488
IRS990/OtherRevenueTotalAmt0730403
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0533944
IRS990/OtherSalariesAndWagesGrp/TotalAmt0533944
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt023914661
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt027066143
IRS990/PartialLiquidationInd00
IRS990/PaymentsToAffiliatesGrp/ProgramServicesAmt019937
IRS990/PaymentsToAffiliatesGrp/TotalAmt019937
IRS990/PayrollTaxesGrp/ProgramServicesAmt061984
IRS990/PayrollTaxesGrp/TotalAmt061984
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt01401361
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt01501361
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt016406
IRS990/PensionPlanContributionsGrp/TotalAmt016406
IRS990/PoliciesReferenceChaptersInd01
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt060456
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0101183
IRS990/PrincipalOfficerNm0BECKY DEVRIES
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0522100
IRS990/ProgramServiceRevenueGrp/Desc0LOAN INTEREST
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt01278035
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt01278035
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0192766
IRS990/PYOtherExpensesAmt01201525
IRS990/PYOtherRevenueAmt0649180
IRS990/PYProgramServiceRevenueAmt01181118
IRS990/PYRevenuesLessExpensesAmt028966
IRS990/PYSalariesCompEmpBnftPaidAmt0792573
IRS990/PYTotalExpensesAmt01994098
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt02023064
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0163188
IRS990/RegularMonitoringEnfrcInd00
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd01
IRS990/RevenueAmt02014480
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt04427821
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt04721835
IRS990/SavingsAndTempCashInvstGrp/BOYAmt03681024
IRS990/SavingsAndTempCashInvstGrp/EOYAmt04862046
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt0366795
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0367081
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0733876
IRS990ScheduleD/EquipmentGrp/BookValueAmt0122107
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0229182
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0351289
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01994416
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt0850000
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt17345981
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0NBC RESERVE 12 MONTH CERTIFICATE
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc1BANK CERTIFICATES OF DEPOSITS
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd1C
IRS990ScheduleD/LandGrp/BookValueAmt0140000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0140000
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt021364
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt073139
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt094503
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt033751
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0121183
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0154934
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt035242881
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MEMBER SHARES
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt02157604
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0IN 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.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 SUPPLEMENTAL INFORMATION - PART XIII
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0684017
IRS990ScheduleD/TotalBookValueProgramRltdAmt08195981
IRS990ScheduleD/TotalExpensesPerForm990Amt01994416
IRS990ScheduleD/TotalLiabilityAmt035242881
IRS990ScheduleD/TotalRevenuePerForm990Amt02157604
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02157604
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01994416
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MIDLAND CREDIT UNION IS SUPPORTED BY MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE MEMBERS OF THE ORGANIZATION HAVE THE RIGHT TO VOTE FOR ONE OR MORE MEMBERS OF THE GOVERNING BODY AT ANNUAL MEETINGS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2CHANGES TO THE BYLAWAS ARE AT TIMES APPROVED BY THE MEMBERS EITHER AT THE ANNUAL MEETING OR SPECIAL MEETINGS HELD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE 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/SupplementalInformationDetail/ExplanationTxt4MIDLAND 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/SupplementalInformationDetail/ExplanationTxt5FINANCIAL STATEMENTS ARE POSTED IN THE LOBBIES. THE ORGANIZATION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6EQUITY ACQUIRED FROM MERGER 230,829. ROUNDING -3.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7MIDLAND 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/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XI, LINE 9:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART XII, LINE 2C:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt039377789
IRS990/TotalAssetsEOYAmt041720304
IRS990/TotalAssetsGrp/BOYAmt039377789
IRS990/TotalAssetsGrp/EOYAmt041720304
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt023
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01994416
IRS990/TotalFunctionalExpensesGrp/TotalAmt01994416
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt033548607
IRS990/TotalLiabilitiesEOYAmt035497108
IRS990/TotalLiabilitiesGrp/BOYAmt033548607
IRS990/TotalLiabilitiesGrp/EOYAmt035497108
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt05829182
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt06223196
IRS990/TotalOtherCompensationAmt020454
IRS990/TotalProgramServiceExpensesAmt01994416
IRS990/TotalProgramServiceRevenueAmt01278035
IRS990/TotalReportableCompFromOrgAmt0172399
IRS990/TotalRevenueGrp/ExclusionAmt0143124
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt02014480
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02157604
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt039377789
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt041720304
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt0694
IRS990/TravelGrp/TotalAmt0694
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd01
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine102891 106TH STREET
IRS990/USAddress/City0URBANDALE

Document Assets

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Filings

Displayed year

2013 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$41,720,304
Liabilities
$35,497,108
Net assets
$6,223,196
Revenue
$2,157,604
Expenses
$1,994,416
Net income
$163,188
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