Civic Intelligence

Quaker Oats Credit Union

990 • Fiscal year 2015 • EIN 42-0816863

Jan 01, 2015 to Dec 31, 2015 • Filed on May 02, 2016

Organization ProfileWWW.QUAKEROATSCU.COM

View Organization Page

3535 Center Point Road NECedar Rapids, IA 52402

(319) 395-7060

Siviq Scores

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

Liabilities / Assets

47th percentile

0.85x

Higher debt load relative to assets than 47% of similar nonprofits.

2015 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2015

Liabilities / Revenue

24th percentile

14.51x

Higher debt load relative to revenue than 24% of similar nonprofits.

2015 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2015

Net Margin

10th percentile

-16%

Higher net margin than 10% of similar nonprofits.

2015 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2015

Top Officer Pay

82nd percentile

$71,381

Higher top officer pay than 82% of similar nonprofits.

Top officer pay equals 14.5% of source-year revenue.

2015 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2015

Asset Growth

Score unavailable

No value available

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

Source year 2015

Revenue Growth

Score unavailable

No value available

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

Source year 2015

Balance Sheet
Liabilities / Assets47th percentile

Assets

Up

$8,402,431

Up $1,813,332 (+28%) from 2010

Net Assets

Down

$1,250,769

Down $30,882 (-2.4%) from 2010

Liabilities

Up

$7,151,662

Up $1,844,214 (+35%) from 2010

Revenue And Expenses
Liabilities / Revenue24th percentileNet Margin10th percentile

Revenue

$492,919

No earlier filing loaded for comparison.

Expenses

Down

$574,162

Down $136,100 (-19%) from 2010

Net Income

-$81,243

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.

$15M$10M$5.0M$0Assets 2010: $6,589,099Liabilities 2010: $5,307,448Net Assets 2010: $1,281,6512010Assets 2015: $8,402,431Liabilities 2015: $7,151,662Net Assets 2015: $1,250,7692015Assets 2016: $8,339,278Liabilities 2016: $7,040,847Net Assets 2016: $1,298,4312016Assets 2018: $9,656,934Liabilities 2018: $8,165,770Net Assets 2018: $1,491,1642018Assets 2019: $10,141,490Liabilities 2019: $8,547,148Net Assets 2019: $1,594,3422019Assets 2020: $12,526,686Liabilities 2020: $10,877,579Net Assets 2020: $1,649,1072020Assets 2021: $13,295,600Liabilities 2021: $11,637,943Net Assets 2021: $1,657,6572021Assets 2022: $12,021,764Liabilities 2022: $10,339,427Net Assets 2022: $1,682,3372022Assets 2023: $12,155,371Liabilities 2023: $10,362,762Net Assets 2023: $1,792,6092023Assets 2024: $12,240,235Liabilities 2024: $10,272,054Net Assets 2024: $1,968,1812024

Highlighted filing

2015

Assets$8,402,431
Liabilities$7,151,662
Net Assets$1,250,769
Open 2015 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$1.0M$500K$0-$500KExpenses 2010: $710,2622010Revenue 2015: $492,919Expenses 2015: $574,162Net Income 2015: -$81,2432015Revenue 2016: $546,891Expenses 2016: $499,226Net Income 2016: $47,6652016Revenue 2018: $595,941Expenses 2018: $491,841Net Income 2018: $104,1002018Revenue 2019: $629,396Expenses 2019: $526,219Net Income 2019: $103,1772019Revenue 2020: $516,853Expenses 2020: $462,088Net Income 2020: $54,7652020Revenue 2021: $494,944Expenses 2021: $486,394Net Income 2021: $8,5502021Revenue 2022: $512,984Expenses 2022: $488,304Net Income 2022: $24,6802022Revenue 2023: $778,731Expenses 2023: $604,959Net Income 2023: $173,7722023Revenue 2024: $768,193Expenses 2024: $592,621Net Income 2024: $175,5722024

Highlighted filing

2015

Revenue$492,919
Expenses$574,162
Net Income-$81,243
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
May 2, 2016
Return Version
2015v2.1
Gross Receipts
$507,137
Mission and Program Overview

Mission

To be a safe and sound credit union. Lending and savings.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$5,704,287$5,918,671▲ $214,384
Investments Program Related$1,000,000$1,425,000▲ $425,000
Rtn Earn Endowment Incm Other Fnds$890,010$808,768▼ $81,242
Cash and Non-Interest-Bearing Accounts$521,357$713,463▲ $192,106
Pd in Cap Srpls Land Bldg Eqp Fund$442,001$442,001→ $0
Land, Buildings, and Equipment, Net$198,323$185,734▼ $12,589
Savings and Temporary Cash Investments$472,301$71,922▼ $400,379
Prepaid Expenses and Deferred Charges$33,068$21,513▼ $11,555
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$8,008,638$8,402,431▲ $393,793
Other Assets Total$79,302$66,128▼ $13,174
Liabilities
Other Liabilities$6,633,865$7,107,774▲ $473,909
Accounts Payable and Accrued Expenses$42,762$43,888▲ $1,126
Total Liabilities$6,676,627$7,151,662▲ $475,035
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,332,011$1,250,769▼ $81,242
Total Liabilities and Net Assets / Fund Balance$8,008,638$8,402,431▲ $393,793

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$99,600$222,538$322,138
Equipment$30,134$259,358$289,492
Land$56,000-$56,000
Investment Program Related Org$1,425,000--
Compensation and Service Providers
Top Officer Pay82nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Dennis ChoateCEOFT$59,513$11,868$71,381

Board Members and Trustees

NameTitle
David WeidnerChairperson
John OppermanPresident
Ken OwensVice Chairperson
Brad DvorakAudit Committee
Shirlene RobinsonAudit Committee
Joann ElliottCredit Committee
Joe ConnerCredit Committee
Mike HenryCredit Committee
Dick HansonSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$327,972
Investment Income
$19,674
Other Revenue
$145,273
Change in Net Assets
$-81,243
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$387,235
Salaries, Compensation, and Employee Benefits$186,927
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Office Expenses$126,416--$126,416
Other Salaries and Wages$87,022--$87,022
Current Officers, Directors, Trustees, and Key Employees$71,381--$71,381
Occupancy$25,856--$25,856
Interest$25,227--$25,227
Advertising$20,293--$20,293
Depreciation Depletion$19,213--$19,213
Information Technology$18,606--$18,606
Other Employee Benefits$16,497--$16,497
Payroll Taxes$12,027--$12,027
All Other Expenses$11,899--$11,899
Other Expenses$9,919--$9,919
Fees for Services Accounting$7,550--$7,550
Payments to Affiliates$4,278--$4,278
Travel$3,236--$3,236
Fees for Services Legal$2,489--$2,489
Conferences and Meetings$638--$638
Total Functional Expenses$574,162$0$0$574,162
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
Members Shares$7,107,774
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
No
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, Part VI, Section A, Line 6

“The organization is a credit union with members.”

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

“Board members can be elected at annual meeting.”

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

“Mergers are subject to member approval.”

Form 990, Part VI, Section B, Line 11

“The ceo will review and sign the form 990.”

Form 990, Part VI, Section B, Line 12C

“The organization reviews the conflict of interest policy on an annual basis.”

Form 990, Part VI, Section C, Line 18

“The form 990 is kept at the credit union office and is availbe for review.”

Form 990, Part VI, Section C, Line 19

“Documents are kept at the credit union office and financials are posted in the lobby. All documents are available upon written request.”

Filing and Contact Details

Filer

Filer Name
Quaker Oats Credit Union
EIN
42-0816863
Phone
3193957060
Address
3535 CENTER POINT ROAD NE, CEDAR RAPIDS, IA 52402

Signing Officer

Name
Dennis Choate
Title
CEO
Phone
3193957060
Signed
2016-05-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dennis Choate
Formed
1952
Legal Domicile
Ia
Voting Board Members
9
Independent Board Members
9
Employees
6
Volunteers
0

Preparer

Firm
Gardiner Thomsen
Address
10555 NEW YORK AVENUE SUITE 200, DES MOINES, IA 50322
Preparer
C L Telk Jr CPA
Phone
5152701446
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“ROUNDING 1.”

Raw XML Appendix399 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/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt019588
IRS990/PYOtherExpensesAmt0325388
IRS990/PYOtherRevenueAmt0151712
IRS990/PYProgramServiceRevenueAmt0357512
IRS990/PYRevenuesLessExpensesAmt017708
IRS990/PYSalariesCompEmpBnftPaidAmt0185716
IRS990/PYTotalExpensesAmt0511104
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0528812
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0-81243
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RentalIncomeOrLossGrp/RealAmt0-5391
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd01
IRS990/RevenueAmt0478636
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0890010
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0808768
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0472301
IRS990/SavingsAndTempCashInvstGrp/EOYAmt071922
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt099600
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0222538
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0322138
IRS990ScheduleD/EquipmentGrp/BookValueAmt030134
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0259358
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0289492
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt01425000
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0CERTIFICATES OF DEPOSIT
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0C
IRS990ScheduleD/LandGrp/BookValueAmt056000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt056000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt07107774
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MEMBERS SHARES
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0185734
IRS990ScheduleD/TotalBookValueProgramRltdAmt01425000
IRS990ScheduleD/TotalLiabilityAmt07107774
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS A CREDIT UNION WITH MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BOARD MEMBERS CAN BE ELECTED AT ANNUAL MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2MERGERS ARE SUBJECT TO MEMBER APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE CEO WILL REVIEW AND SIGN THE FORM 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION REVIEWS THE CONFLICT OF INTEREST POLICY ON AN ANNUAL BASIS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE FORM 990 IS KEPT AT THE CREDIT UNION OFFICE AND IS AVAILBE FOR REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6DOCUMENTS ARE KEPT AT THE CREDIT UNION OFFICE AND FINANCIALS ARE POSTED IN THE LOBBY. ALL DOCUMENTS ARE AVAILABLE UPON WRITTEN REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7ROUNDING 1.
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 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART XI, LINE 9:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt08008638
IRS990/TotalAssetsEOYAmt08402431
IRS990/TotalAssetsGrp/BOYAmt08008638
IRS990/TotalAssetsGrp/EOYAmt08402431
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt06
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0574162
IRS990/TotalFunctionalExpensesGrp/TotalAmt0574162
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt06676627
IRS990/TotalLiabilitiesEOYAmt07151662
IRS990/TotalLiabilitiesGrp/BOYAmt06676627
IRS990/TotalLiabilitiesGrp/EOYAmt07151662
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01332011
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01250769
IRS990/TotalOtherCompensationAmt011868
IRS990/TotalProgramServiceExpensesAmt0574162
IRS990/TotalProgramServiceRevenueAmt0327972
IRS990/TotalReportableCompFromOrgAmt059513
IRS990/TotalRevenueGrp/ExclusionAmt014283
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0478636
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0492919
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt08008638
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt08402431
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt03236
IRS990/TravelGrp/TotalAmt03236
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt03535 CENTER POINT ROAD NE
IRS990/USAddress/CityNm0CEDAR RAPIDS
IRS990/USAddress/StateAbbreviationCd0IA
IRS990/USAddress/ZIPCd052402
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0WWW.QUAKEROATSCU.COM
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02016-09-27 15:27:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0DENNIS CHOATE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum03193957060
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-05-02
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0QUAKER OATS CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0QUAK
ReturnHeader/Filer/EIN0420816863
ReturnHeader/Filer/PhoneNum03193957060
ReturnHeader/Filer/USAddress/AddressLine1Txt03535 CENTER POINT ROAD NE
ReturnHeader/Filer/USAddress/CityNm0CEDAR RAPIDS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IA
ReturnHeader/Filer/USAddress/ZIPCd052402
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0421186197
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0GARDINER THOMSEN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt010555 NEW YORK AVENUE SUITE 200
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0DES MOINES
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd050322
ReturnHeader/PreparerPersonGrp/PhoneNum05152701446
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0C L TELK JR CPA
ReturnHeader/ReturnTs02016-05-02T14:02:13-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-01-01
ReturnHeader/TaxPeriodEndDt02015-12-31
ReturnHeader/TaxYr02015

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$8,402,431
Liabilities
$7,151,662
Net assets
$1,250,769
Revenue
$492,919
Expenses
$574,162
Net income
-$81,243
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$12.2$10.3$1.97$0.77$0.59$0.18
2023Detailed filing. Detailed filing data is available for this year.$12.2$10.4$1.79$0.78$0.60$0.17
2022Detailed filing. Detailed filing data is available for this year.$12.0$10.3$1.68$0.51$0.49$0.02
2021Detailed filing. Detailed filing data is available for this year.$13.3$11.6$1.66$0.49$0.49$0.01
2020Detailed filing. Detailed filing data is available for this year.$12.5$10.9$1.65$0.52$0.46$0.05
2019Detailed filing. Detailed filing data is available for this year.$10.1$8.55$1.59$0.63$0.53$0.10
2018Detailed filing. Detailed filing data is available for this year.$9.66$8.17$1.49$0.60$0.49$0.10
2016Detailed filing. Detailed filing data is available for this year.$8.34$7.04$1.30$0.55$0.50$0.05
2015Detailed filing. Detailed filing data is available for this year.$8.40$7.15$1.25$0.49$0.57$0.08
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.59$5.31$1.28$0.71