Civic Intelligence

Midland Credit Union

990 • Fiscal year 2023 • EIN 42-0816632

Jan 01, 2023 to Dec 31, 2023 • Filed on Jun 24, 2024

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

55th percentile

0.89x

Higher debt load relative to assets than 55% of similar nonprofits.

2023 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2023

Liabilities / Revenue

33rd percentile

15.48x

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

2023 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2023

Net Margin

20th percentile

4.4%

Higher net margin than 20% of similar nonprofits.

2023 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2023

Top Officer Pay

82nd percentile

$212,585

Higher top officer pay than 82% of similar nonprofits.

Top officer pay equals 4.6% of source-year revenue.

2023 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2023

Asset Growth

88th percentile

6.4%

Faster asset growth than 88% of similar nonprofits.

2023 filings • 501(c)14 • $50M-$100M nonprofits • Annualized from 2022 to 2023

Revenue Growth

80th percentile

34%

Faster revenue growth than 80% of similar nonprofits.

2023 filings • 501(c)14 • $50M-$100M nonprofits • Annualized from 2022 to 2023

Assets

Up

$80,969,879

Up $4,878,574 (+6.4%) from 2022

Net Assets

Up

$8,854,569

Up $1,080,484 (+14%) from 2022

Liabilities

Up

$72,115,310

Up $3,798,090 (+5.6%) from 2022

Revenue

Up

$4,659,923

Up $1,189,710 (+34%) from 2022

Expenses

Up

$4,455,396

Up $1,044,722 (+31%) from 2022

Net Income

Up

$204,527

Up $144,988 (+244%) from 2022

Historical Trend

Balance Sheet Trend

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

2023

Assets$80,969,879
Liabilities$72,115,310
Net Assets$8,854,569

Operations Trend

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

2023

Revenue$4,659,923
Expenses$4,455,396
Net Income$204,527
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Jun 24, 2024
Return Version
2023v5.1
Gross Receipts
$4,659,923
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$52,370,386$54,999,340▲ $2,628,954
Investments Program Related$12,909,808$13,590,581▲ $680,773
Savings and Temporary Cash Investments$5,284,651$6,701,449▲ $1,416,798
Rtn Earn Endowment Incm Other Fnds$4,610,224$5,352,332▲ $742,108
Pd in Cap Srpls Land Bldg Eqp Fund$3,163,861$3,502,237▲ $338,376
Land, Buildings, and Equipment, Net$2,139,155$2,033,140▼ $106,015
Cash and Non-Interest-Bearing Accounts$405,246$442,918▲ $37,672
Prepaid Expenses and Deferred Charges$221,194$184,213▼ $36,981
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$76,091,305$80,969,879▲ $4,878,574
Other Assets Total$2,760,865$3,018,238▲ $257,373
Liabilities
Other Liabilities$68,041,800$68,795,788▲ $753,988
Accounts Payable and Accrued Expenses$275,420$3,319,522▲ $3,044,102
Total Liabilities$68,317,220$72,115,310▲ $3,798,090
Net Assets / Fund Balance
Total Net Assets Fund Balance$7,774,085$8,854,569▲ $1,080,484
Total Liabilities and Net Assets / Fund Balance$76,091,305$80,969,879▲ $4,878,574

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,114,542$725,545$1,840,087
Equipment$306,656$534,335$840,991
Land$610,000-$610,000
Leasehold Improvements$1,942$123,696$125,638
Investment Program Related Org$180,700--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Randy HassCEOFT$178,807$33,778$212,585
Mindy CooperCFOFT$132,412$27,011$159,423

Board Members and Trustees

NameTitle
Linda GastAudit Committee Chair
Frank WimlerChair
Steven CorreaCredit Committee Chair
Ryan BhattacharyyaVice Chairman
Troy WhiteBoard CFO
Eric WilliamsDirector
John ColbyDirector
Kim KnollDirector
Tiffany MenkeSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$4,032,479
Investment Income
$576,583
Other Revenue
$50,861
Change in Net Assets
$204,527

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,659,923
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$4,659,923
Total Revenue per Form 990
$4,659,923
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,138,663
Salaries, Compensation, and Employee Benefits$1,316,733
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$839,154--$839,154
Other Salaries and Wages$834,118--$834,118
Other Expenses$385,659--$385,659
Current Officers, Directors, Trustees, and Key Employees$372,008--$372,008
All Other Expenses$344,668--$344,668
Office Expenses$227,890--$227,890
Advertising$218,282--$218,282
Information Technology$174,195--$174,195
Occupancy$166,146--$166,146
Depreciation Depletion$154,635--$154,635
Other Employee Benefits$75,602--$75,602
Conferences and Meetings$37,794--$37,794
Pension Plan Contributions$35,005--$35,005
Fees for Services Accounting$29,240--$29,240
Insurance$28,547--$28,547
Fees for Services Legal$18,772--$18,772
Payments to Affiliates$15,967--$15,967
Travel$5,022--$5,022
Total Functional Expenses$4,455,396$0$0$4,455,396

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$4,455,396
Total Expenses per Audited Statements$4,455,396
Total Expenses per Form 990$4,455,396
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$68,795,788
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 35% controlled entity
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
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
Mindy Cooper
Title
CFO
Phone
5152781994
Signed
2024-06-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mindy Cooper
Formed
1933
Legal Domicile
Ia
Voting Board Members
9
Independent Board Members
9
Employees
21
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 XI, LINE 9:

Equity acquired from umecu merger 875,957.

FORM 990, PART XII, LINE 2C, EXPLANATION: AUDIT COMMITTEE

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.

FORM 990, PART XI, LINE 9, EXPLANATION: EQUITY AQUIRED FROM UMECU MERGER

Effective august 1, 2023 ngpl employees credit union (ein:42-0861953) merged with midland credit union. All assets, liabilities and equity was assumed by the continuing credit union: midland credit union.

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.

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IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
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/NetAssetsOrFundBalancesBOYAmt07774085
IRS990/NetAssetsOrFundBalancesEOYAmt08854569
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ProgramServicesAmt0166146
IRS990/OccupancyGrp/TotalAmt0166146
IRS990/OfficeExpensesGrp/ProgramServicesAmt0227890
IRS990/OfficeExpensesGrp/TotalAmt0227890
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt02760865
IRS990/OtherAssetsTotalGrp/EOYAmt03018238
IRS990/OtherChangesInNetAssetsAmt0875957
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt075602
IRS990/OtherEmployeeBenefitsGrp/TotalAmt075602
IRS990/OtherExpensesGrp/Desc0PROVISION FOR LOAN LOSS
IRS990/OtherExpensesGrp/Desc1DEBIT/CREDIT CARD EXPEN
IRS990/OtherExpensesGrp/ProgramServicesAmt0492692
IRS990/OtherExpensesGrp/ProgramServicesAmt1385659
IRS990/OtherExpensesGrp/TotalAmt0492692
IRS990/OtherExpensesGrp/TotalAmt1385659
IRS990/OtherLiabilitiesGrp/BOYAmt068041800
IRS990/OtherLiabilitiesGrp/EOYAmt068795788
IRS990/OtherRevenueMiscGrp/BusinessCd0522100
IRS990/OtherRevenueMiscGrp/BusinessCd1522100
IRS990/OtherRevenueMiscGrp/BusinessCd2522100
IRS990/OtherRevenueMiscGrp/Desc0MISCELLANEOUS INCOME
IRS990/OtherRevenueMiscGrp/Desc1ATM FEES
IRS990/OtherRevenueMiscGrp/Desc2ATM FEES - NON MEMBER
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt030807
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt17787
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt031861
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt17787
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt2966
IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt01054
IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt1966
IRS990/OtherRevenueTotalAmt040614
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0834118
IRS990/OtherSalariesAndWagesGrp/TotalAmt0834118
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt052370386
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt054999340
IRS990/PartialLiquidationInd00
IRS990/PaymentsToAffiliatesGrp/ProgramServicesAmt015967
IRS990/PaymentsToAffiliatesGrp/TotalAmt015967
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt03163861
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt03502237
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt035005
IRS990/PensionPlanContributionsGrp/TotalAmt035005
IRS990/PoliciesReferenceChaptersInd01
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0221194
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0184213
IRS990/PrincipalOfficerNm0MINDY COOPER
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/Desc3DEBT PROTECTION
IRS990/ProgramServiceRevenueGrp/Desc4SERVICE FEES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt03219026
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1472895
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2155898
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt3120359
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt438918
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt03219026
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1472895
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2155898
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt3120359
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt438918
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0278735
IRS990/PYOtherExpensesAmt02309795
IRS990/PYOtherRevenueAmt022848
IRS990/PYProgramServiceRevenueAmt03168630
IRS990/PYRevenuesLessExpensesAmt059539
IRS990/PYSalariesCompEmpBnftPaidAmt01100879
IRS990/PYTotalExpensesAmt03410674
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt03470213
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0204527
IRS990/RegularMonitoringEnfrcInd00
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd01
IRS990/RevenueAmt04071073
IRS990/RoyaltiesRevenueGrp/ExclusionAmt010247
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt010247
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt04610224
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt05352332
IRS990/SavingsAndTempCashInvstGrp/BOYAmt05284651
IRS990/SavingsAndTempCashInvstGrp/EOYAmt06701449
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt01114542
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0725545
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01840087
IRS990ScheduleD/EquipmentGrp/BookValueAmt0306656
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0534335
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0840991
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt04455396
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt0900000
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt112509881
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt2180700
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0NCB RESERVE 12 MONTH CERTIFICATE
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc1BANK & CREDIT UNION CERTIFICATES OF DEPOSITS
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc2FHLB STOCK
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd1C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd2C
IRS990ScheduleD/LandGrp/BookValueAmt0610000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0610000
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt01942
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0123696
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0125638
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt068795788
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MEMBER SHARES
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt04659923
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/TotalBookValueLandBuildingsAmt02033140
IRS990ScheduleD/TotalBookValueProgramRltdAmt013590581
IRS990ScheduleD/TotalExpensesPerForm990Amt04455396
IRS990ScheduleD/TotalLiabilityAmt068795788
IRS990ScheduleD/TotalRevenuePerForm990Amt04659923
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt04659923
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt04455396
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompensationSurveyInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/Form990OfOtherOrganizationsInd0X
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0178807
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt1132412
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount08000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount15000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt019086
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt113489
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt06692
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt18522
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0RANDY HASS
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1MINDY COOPER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1CFO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0212585
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt1159423
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt10
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0WE USE COMPEASE TO PROVIDE THE SALARY RANGE ON EVERY POSITION WITHIN THE CREDIT UNION. ANY CHANGES TO THE CEO SALARY IS APPROVED BY THE BOARD AND COULD BE RECOMMENDED BY A COMMITTEE IF THE BOARD THOUGHT IT WAS NEEDED TO DO AN EVALUATION.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 3
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
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.

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Filings

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