Civic Intelligence

Midland Credit Union

990 • Fiscal year 2018 • EIN 42-0816632

Jan 01, 2018 to Dec 31, 2018 • Filed on May 03, 2019

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

33rd percentile

0.87x

Higher debt load relative to assets than 33% of similar nonprofits.

2018 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2018

Liabilities / Revenue

34th percentile

15.78x

Higher debt load relative to revenue than 34% of similar nonprofits.

2018 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2018

Net Margin

20th percentile

3.7%

Higher net margin than 20% of similar nonprofits.

2018 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2018

Top Officer Pay

49th percentile

$143,397

Higher top officer pay than 49% of similar nonprofits.

Top officer pay equals 4.9% of source-year revenue.

2018 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2018

Asset Growth

52nd percentile

1.9%

Faster asset growth than 52% of similar nonprofits.

2018 filings • 501(c)14 • $50M-$100M nonprofits • Annualized from 2017 to 2018

Revenue Growth

24th percentile

5.2%

Faster revenue growth than 24% of similar nonprofits.

2018 filings • 501(c)14 • $50M-$100M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets33rd percentile

Assets

Up

$53,202,747

Up $972,789 (+1.9%) from 2017

Net Assets

Up

$7,129,450

Up $108,888 (+1.6%) from 2017

Liabilities

Up

$46,073,297

Up $863,901 (+1.9%) from 2017

Revenue And Expenses
Liabilities / Revenue34th percentileNet Margin20th percentile

Revenue

Up

$2,919,135

Up $145,488 (+5.2%) from 2017

Expenses

Up

$2,810,247

Up $359,467 (+15%) from 2017

Net Income

Down

$108,888

Down $213,979 (-66%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth52nd 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

2018

Assets$53,202,747
Liabilities$46,073,297
Net Assets$7,129,450
Open 2018 Filing

Operations Trend

Revenue Growth24th percentile

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

2018

Revenue$2,919,135
Expenses$2,810,247
Net Income$108,888
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
May 3, 2019
Return Version
2018v3.1
Gross Receipts
$2,919,135
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$35,995,159$35,514,372▼ $480,787
Investments Program Related$7,960,000$10,320,000▲ $2,360,000
Rtn Earn Endowment Incm Other Fnds$4,769,701$4,878,589▲ $108,888
Savings and Temporary Cash Investments$5,428,510$4,517,692▼ $910,818
Pd in Cap Srpls Land Bldg Eqp Fund$2,250,861$2,250,861→ $0
Land, Buildings, and Equipment, Net$540,871$499,427▼ $41,444
Cash and Non-Interest-Bearing Accounts$342,124$354,799▲ $12,675
Prepaid Expenses and Deferred Charges$145,798$178,076▲ $32,278
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$52,229,958$53,202,747▲ $972,789
Other Assets Total$1,817,496$1,818,381▲ $885
Liabilities
Other Liabilities$44,933,953$45,807,571▲ $873,618
Accounts Payable and Accrued Expenses$275,443$265,726▼ $9,717
Total Liabilities$45,209,396$46,073,297▲ $863,901
Net Assets / Fund Balance
Total Net Assets Fund Balance$7,020,562$7,129,450▲ $108,888
Total Liabilities and Net Assets / Fund Balance$52,229,958$53,202,747▲ $972,789

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$275,061$458,815$733,876
Equipment$60,249$394,841$455,090
Land$140,000-$140,000
Leasehold Improvements$24,117$101,522$125,639
Investment Program Related Org$9,470,000--
Compensation and Service Providers
Top Officer Pay49th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Rebecca R DevriesPresident & CEOFT$123,438$19,959$143,397
Holly LucaExecutive VPFT$100,784$21,696$122,480

Board Members and Trustees

NameTitle
Linda GastAudit Committee Chair
Frank WimlerChair
Steven CorreaCredit Committee Chair
Don SeymourVice Chairman
Susan StrockDirector
Tiffany MenkeDirector
Dale MccleishCFO
Dallas BuckSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,561,015
Investment Income
$289,451
Other Revenue
$68,669
Change in Net Assets
$108,888

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,919,135
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$2,919,135
Total Revenue per Form 990
$2,919,135
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,818,768
Salaries, Compensation, and Employee Benefits$991,479
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$647,676--$647,676
Interest$309,521--$309,521
Current Officers, Directors, Trustees, and Key Employees$265,877--$265,877
All Other Expenses$198,775--$198,775
Office Expenses$191,631--$191,631
Occupancy$107,129--$107,129
Information Technology$99,610--$99,610
Advertising$78,111--$78,111
Other Employee Benefits$60,036--$60,036
Depreciation Depletion$49,935--$49,935
Insurance$21,615--$21,615
Fees for Services Accounting$18,470--$18,470
Conferences and Meetings$18,419--$18,419
Pension Plan Contributions$17,890--$17,890
Payments to Affiliates$13,443--$13,443
Other Expenses$1,894--$1,894
Fees for Services Legal$1,380--$1,380
Travel$448--$448
Total Functional Expenses$2,810,247$0$0$2,810,247

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,810,247
Total Expenses per Audited Statements$2,810,247
Total Expenses per Form 990$2,810,247
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$45,807,571
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 bylaws are at times approved by the members either at the annual meeting or special meetings held.”

Form 990, Part VI, Section B, Line 11B

“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

Filer Name
Midland Credit Union
EIN
42-0816632
Phone
5152781994
Address
2891 106TH STREET, URBANDALE, IA 50322

Signing Officer

Name
Becky Devries
Title
CEO
Phone
5152781994
Signed
2019-05-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Becky Devries
Formed
1933
Legal Domicile
Ia
Voting Board Members
8
Independent Board Members
8
Employees
22
Volunteers
0

Preparer

Firm
Gardiner Company Pc
Address
10555 NEW YORK AVENUE SUITE 200, DES MOINES, IA 50322
Preparer
Dennis Gardiner CPA
Phone
5152701446
Supplemental Narrative

Additional Explanations

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

PART X, LINE 2:

“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 445 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/OfficeExpensesGrp/TotalAmt0191631
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt01817496
IRS990/OtherAssetsTotalGrp/EOYAmt01818381
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt060036
IRS990/OtherEmployeeBenefitsGrp/TotalAmt060036
IRS990/OtherExpensesGrp/Desc0PROVISION FOR LOAN LOSS
IRS990/OtherExpensesGrp/Desc1DEBIT/CREDIT CARD EXPEN
IRS990/OtherExpensesGrp/Desc2RENTAL EXPENSE
IRS990/OtherExpensesGrp/ProgramServicesAmt0402319
IRS990/OtherExpensesGrp/ProgramServicesAmt1306068
IRS990/OtherExpensesGrp/ProgramServicesAmt21894
IRS990/OtherExpensesGrp/TotalAmt0402319
IRS990/OtherExpensesGrp/TotalAmt1306068
IRS990/OtherExpensesGrp/TotalAmt21894
IRS990/OtherLiabilitiesGrp/BOYAmt044933953
IRS990/OtherLiabilitiesGrp/EOYAmt045807571
IRS990/OtherRevenueMiscGrp/BusinessCd0522100
IRS990/OtherRevenueMiscGrp/BusinessCd1522100
IRS990/OtherRevenueMiscGrp/Desc0MISCELLANEOUS INCOME
IRS990/OtherRevenueMiscGrp/Desc1ATM FEES
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt044464
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt17168
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt044464
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt114074
IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt06906
IRS990/OtherRevenueTotalAmt058538
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0647676
IRS990/OtherSalariesAndWagesGrp/TotalAmt0647676
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt035995159
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt035514372
IRS990/PartialLiquidationInd00
IRS990/PaymentsToAffiliatesGrp/ProgramServicesAmt013443
IRS990/PaymentsToAffiliatesGrp/TotalAmt013443
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt02250861
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt02250861
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt017890
IRS990/PensionPlanContributionsGrp/TotalAmt017890
IRS990/PoliciesReferenceChaptersInd01
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0145798
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0178076
IRS990/PrincipalOfficerNm0BECKY DEVRIES
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0522100
IRS990/ProgramServiceRevenueGrp/BusinessCd1522100
IRS990/ProgramServiceRevenueGrp/BusinessCd2522100
IRS990/ProgramServiceRevenueGrp/BusinessCd3522100
IRS990/ProgramServiceRevenueGrp/BusinessCd4522100
IRS990/ProgramServiceRevenueGrp/Desc0LOAN INTEREST
IRS990/ProgramServiceRevenueGrp/Desc1CREDIT CARD FEES
IRS990/ProgramServiceRevenueGrp/Desc2NSF CHARGES
IRS990/ProgramServiceRevenueGrp/Desc3SERVICE FEES
IRS990/ProgramServiceRevenueGrp/Desc4DEBT PROTECTION
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt01746310
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1380415
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2188824
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt3131970
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt468767
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt01746310
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1380415
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2188824
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt3131970
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt468767
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0185667
IRS990/PYOtherExpensesAmt01491887
IRS990/PYOtherRevenueAmt040184
IRS990/PYProgramServiceRevenueAmt02547796
IRS990/PYRevenuesLessExpensesAmt0322867
IRS990/PYSalariesCompEmpBnftPaidAmt0958893
IRS990/PYTotalExpensesAmt02450780
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt02773647
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0108888
IRS990/RegularMonitoringEnfrcInd00
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd01
IRS990/RevenueAmt02612647
IRS990/RoyaltiesRevenueGrp/ExclusionAmt010131
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt010131
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt04769701
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt04878589
IRS990/SavingsAndTempCashInvstGrp/BOYAmt05428510
IRS990/SavingsAndTempCashInvstGrp/EOYAmt04517692
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt0275061
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0458815
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0733876
IRS990ScheduleD/EquipmentGrp/BookValueAmt060249
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0394841
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0455090
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt02810247
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt0850000
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt19470000
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0NCB RESERVE 12 MONTH CERTIFICATE
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc1BANK & CREDIT UNION CERTIFICATES OF DEPOSITS
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd1C
IRS990ScheduleD/LandGrp/BookValueAmt0140000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0140000
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt024117
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0101522
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0125639
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt045807571
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MEMBER SHARES
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt02919135
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/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0499427
IRS990ScheduleD/TotalBookValueProgramRltdAmt010320000
IRS990ScheduleD/TotalExpensesPerForm990Amt02810247
IRS990ScheduleD/TotalLiabilityAmt045807571
IRS990ScheduleD/TotalRevenuePerForm990Amt02919135
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02919135
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02810247
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 BYLAWS 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/ExplanationTxt6MIDLAND 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 11B
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 XII, LINE 2C:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt052229958
IRS990/TotalAssetsEOYAmt053202747
IRS990/TotalAssetsGrp/BOYAmt052229958
IRS990/TotalAssetsGrp/EOYAmt053202747
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt022
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02810247
IRS990/TotalFunctionalExpensesGrp/TotalAmt02810247
IRS990/TotalGrossUBIAmt06906
IRS990/TotalLiabilitiesBOYAmt045209396
IRS990/TotalLiabilitiesEOYAmt046073297
IRS990/TotalLiabilitiesGrp/BOYAmt045209396
IRS990/TotalLiabilitiesGrp/EOYAmt046073297
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt07020562
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt07129450
IRS990/TotalOtherCompensationAmt041655
IRS990/TotalOthProgramServiceRevGrp/RelatedOrExemptFuncIncomeAmt044729
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt044729
IRS990/TotalProgramServiceExpensesAmt02810247
IRS990/TotalProgramServiceRevenueAmt02561015
IRS990/TotalReportableCompFromOrgAmt0224222
IRS990/TotalRevenueGrp/ExclusionAmt0299582
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt02612647
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02919135
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt06906
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt052229958
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt053202747
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt0448
IRS990/TravelGrp/TotalAmt0448

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$53,202,747
Liabilities
$46,073,297
Net assets
$7,129,450
Revenue
$2,919,135
Expenses
$2,810,247
Net income
$108,888
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