Civic Intelligence

Cedar Falls Community Credit Union

990 • Fiscal year 2017 • EIN 42-0817536

Jan 01, 2017 to Dec 31, 2017 • Filed on May 04, 2018

Organization ProfileWWW.CFCCU.ORG

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123 W 4th StreetCedar Falls, IA 50613

(319) 266-7531

Siviq Scores

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

Liabilities / Assets

20th percentile

0.85x

Higher debt load relative to assets than 20% of similar nonprofits.

2017 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2017

Liabilities / Revenue

59th percentile

19.12x

Higher debt load relative to revenue than 59% of similar nonprofits.

2017 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2017

Net Margin

97th percentile

32%

Higher net margin than 97% of similar nonprofits.

2017 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2017

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2017

Asset Growth

90th percentile

11%

Faster asset growth than 90% of similar nonprofits.

2017 filings • 501(c)14 • $100M-$250M nonprofits • Annualized from 2016 to 2017

Revenue Growth

80th percentile

11%

Faster revenue growth than 80% of similar nonprofits.

2017 filings • 501(c)14 • $100M-$250M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets20th percentile

Assets

Up

$119,132,718

Up $11,369,646 (+11%) from 2016

Net Assets

Up

$17,339,726

Up $1,742,689 (+11%) from 2016

Liabilities

Up

$101,792,992

Up $9,626,957 (+10%) from 2016

Revenue And Expenses
Liabilities / Revenue59th percentileNet Margin97th percentile

Revenue

Up

$5,323,198

Up $538,112 (+11%) from 2016

Expenses

Up

$3,624,862

Up $449,117 (+14%) from 2016

Net Income

Up

$1,698,336

Up $88,995 (+5.5%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth90th percentile

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

$200M$150M$100M$50M$0Assets 2010: $83,466,935Liabilities 2010: $75,353,716Net Assets 2010: $8,113,2192010Assets 2011: $87,486,088Liabilities 2011: $78,508,541Net Assets 2011: $8,977,5472011Assets 2013: $92,685,398Liabilities 2013: $81,528,308Net Assets 2013: $11,157,0902013Assets 2015: $100,121,818Liabilities 2015: $85,906,977Net Assets 2015: $14,214,8412015Assets 2016: $107,763,072Liabilities 2016: $92,166,035Net Assets 2016: $15,597,0372016Assets 2017: $119,132,718Liabilities 2017: $101,792,992Net Assets 2017: $17,339,7262017Assets 2018: $119,493,860Liabilities 2018: $100,453,828Net Assets 2018: $19,040,0322018Assets 2019: $127,129,359Liabilities 2019: $106,630,234Net Assets 2019: $20,499,1252019Assets 2020: $148,176,863Liabilities 2020: $126,457,009Net Assets 2020: $21,719,8542020Assets 2021: $172,003,870Liabilities 2021: $146,578,005Net Assets 2021: $25,425,8652021

Highlighted filing

2017

Assets$119,132,718
Liabilities$101,792,992
Net Assets$17,339,726
Open 2017 Filing

Operations Trend

Revenue Growth80th percentile

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

$8.0M$6.0M$4.0M$2.0M$0Expenses 2010: $3,836,6012010Expenses 2011: $3,370,5122011Revenue 2013: $4,355,930Expenses 2013: $3,021,041Net Income 2013: $1,334,8892013Revenue 2015: $4,720,369Expenses 2015: $2,960,283Net Income 2015: $1,760,0862015Revenue 2016: $4,785,086Expenses 2016: $3,175,745Net Income 2016: $1,609,3412016Revenue 2017: $5,323,198Expenses 2017: $3,624,862Net Income 2017: $1,698,3362017Revenue 2018: $5,807,419Expenses 2018: $3,948,783Net Income 2018: $1,858,6362018Revenue 2019: $6,179,525Expenses 2019: $4,564,728Net Income 2019: $1,614,7972019Revenue 2020: $6,472,533Expenses 2020: $5,052,588Net Income 2020: $1,419,9452020Revenue 2021: $6,847,220Expenses 2021: $5,022,557Net Income 2021: $1,824,6632021

Highlighted filing

2017

Revenue$5,323,198
Expenses$3,624,862
Net Income$1,698,336
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
May 4, 2018
Return Version
2017v2.3
Gross Receipts
$5,323,198
Mission and Program Overview

Mission

State chartered credit union

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$80,829,520$90,233,350▲ $9,403,830
Savings and Temporary Cash Investments$23,697,455$24,611,334▲ $913,879
Rtn Earn Endowment Incm Other Fnds$11,867,550$13,344,212▲ $1,476,662
Pd in Cap Srpls Land Bldg Eqp Fund$3,729,487$3,995,514▲ $266,027
Land, Buildings, and Equipment, Net$196,648$982,157▲ $785,509
Cash and Non-Interest-Bearing Accounts$808,526$891,945▲ $83,419
Investments in Publicly Traded Securities$250,000$250,000→ $0
Prepaid Expenses and Deferred Charges$54,979$84,792▲ $29,813
Accounts Receivable$4,646$5,432▲ $786
Total Assets$107,763,072$119,132,718▲ $11,369,646
Other Assets Total$1,921,298$2,073,708▲ $152,410
Liabilities
Other Liabilities$91,283,903$100,866,277▲ $9,582,374
Accounts Payable and Accrued Expenses$882,132$926,715▲ $44,583
Total Liabilities$92,166,035$101,792,992▲ $9,626,957
Net Assets / Fund Balance
Total Net Assets Fund Balance$15,597,037$17,339,726▲ $1,742,689
Total Liabilities and Net Assets / Fund Balance$107,763,072$119,132,718▲ $11,369,646

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$826,337$809,564$1,635,901
Equipment$120,820$517,186$638,006
Land$35,000-$35,000
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseTotal
Helen PearcePresident/ceFT$132,859$132,859

Board Members and Trustees

NameTitle
Becky RiehmBoard Member
Bruce SorensenBoard Member
Frank MillerBoard Member
Fred RitchieBoard Member
Gordie SorensenBoard Member
Irv TillerBoard Member
Jim SealmanBoard Member
Larry BockesBoard Member
Ma ReifsteckBoard Member
Meghan SullivanBoard Member
Sheila KittlesonBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$4,943,972
Investment Income
$379,226
Other Revenue
$0
Change in Net Assets
$1,698,336

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,323,198
Total Revenue per Audited Statements
$5,323,198
Total Revenue per Form 990
$5,323,198
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,376,380
Salaries, Compensation, and Employee Benefits$1,248,482
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$947,887
All Other Expenses---$248,014
Office Expenses---$136,805
Other Employee Benefits---$132,607
Other Expenses---$121,853
Occupancy---$110,260
Advertising---$98,782
Pension Plan Contributions---$87,642
Payroll Taxes---$80,346
Depreciation Depletion---$38,342
Insurance---$38,322
Conferences and Meetings---$33,888
Fees for Services Accounting---$24,000
Total Functional Expenses$0$0$0$3,624,862

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,624,862
Total Expenses per Audited Statements$3,624,862
Total Expenses per Form 990$3,624,862
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 Deposits$100,866,277
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
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, Page 6, Part VI, Line 2

“Larry bockers meghan sullivan board member board member father/daughter”

Form 990, Page 6, Part VI, Line 6

“All depositors are considered members.”

Form 990, Page 6, Part VI, Line 7A

“The credit union members elect on an annual basis the members of the board of directors.”

Form 990, Page 6, Part VI, Line 7B

“Any proposed mergers must be approved by a majority of the membership.”

Form 990, Page 6, Part VI, Line 11B

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 12C

“The security matrix on the data processing system prohibits employees and directors from initiating transactions on all accounts listed on their conflict of interest disclosure statement, which is updated annually.”

Form 990, Page 6, Part VI, Line 15A

“The process for determining compensation for the ceo includes a comparison of compensation for similarly qualified persons in comparable positions, review and approval by the board of directors and is documented in the board minutes. The last review was conducted in december 2017.”

Form 990, Page 6, Part VI, Line 19

“The monthly financial statements are posted in the lobby and are updated on a monthly basis. The governing documents and conflict of interest policy are made available upon request.”

Filing and Contact Details

Filer

Filer Name
Cedar Falls Community Credit Union
EIN
42-0817536
Phone
3192667531
Address
123 W 4TH STREET, CEDAR FALLS, IA 50613

Signing Officer

Name
Helen Pearce
Title
President/CEO
Phone
3192667531
Signed
2018-05-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Helen Pearce
Formed
1958
Legal Domicile
Ia
Voting Board Members
11
Independent Board Members
11
Employees
32
Volunteers
11

Preparer

Firm
Petersen & Associates
Address
506 E GOLD COAST RD STE 100, PAPILLION, NE 68046-4790
Preparer
Steven O Petersen
Phone
4023332800
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

“N/A”

Form 990, Part XI, Line 9

“Net change in other comprehensive income 44,353”

Raw XML Appendix379 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/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt013344212
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IRS990ScheduleD/BuildingsGrp/BookValueAmt0826337
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0809564
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01635901
IRS990ScheduleD/EquipmentGrp/BookValueAmt0120820
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0517186
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0638006
IRS990ScheduleD/ExpensesSubtotalAmt03624862
IRS990ScheduleD/LandGrp/BookValueAmt035000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt035000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0100866277
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MEMBER DEPOSITS
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IRS990ScheduleD/TotalLiabilityAmt0100866277
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0N/A
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1LARRY BOCKERS MEGHAN SULLIVAN BOARD MEMBER BOARD MEMBER FATHER/DAUGHTER
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL DEPOSITORS ARE CONSIDERED MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE CREDIT UNION MEMBERS ELECT ON AN ANNUAL BASIS THE MEMBERS OF THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ANY PROPOSED MERGERS MUST BE APPROVED BY A MAJORITY OF THE MEMBERSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE SECURITY MATRIX ON THE DATA PROCESSING SYSTEM PROHIBITS EMPLOYEES AND DIRECTORS FROM INITIATING TRANSACTIONS ON ALL ACCOUNTS LISTED ON THEIR CONFLICT OF INTEREST DISCLOSURE STATEMENT, WHICH IS UPDATED ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE PROCESS FOR DETERMINING COMPENSATION FOR THE CEO INCLUDES A COMPARISON OF COMPENSATION FOR SIMILARLY QUALIFIED PERSONS IN COMPARABLE POSITIONS, REVIEW AND APPROVAL BY THE BOARD OF DIRECTORS AND IS DOCUMENTED IN THE BOARD MINUTES. THE LAST REVIEW WAS CONDUCTED IN DECEMBER 2017.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8THE MONTHLY FINANCIAL STATEMENTS ARE POSTED IN THE LOBBY AND ARE UPDATED ON A MONTHLY BASIS. THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE MADE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9NET CHANGE IN OTHER COMPREHENSIVE INCOME 44,353
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9FORM 990, PART XI, LINE 9
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IRS990/TotalEmployeeCnt032
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt03624862
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt092166035
IRS990/TotalLiabilitiesEOYAmt0101792992
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IRS990/TotalLiabilitiesGrp/EOYAmt0101792992
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt015597037
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt017339726
IRS990/TotalProgramServiceRevenueAmt04943972
IRS990/TotalReportableCompFromOrgAmt0132859
IRS990/TotalRevenueGrp/ExclusionAmt05323198
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt05323198
IRS990/TotalVolunteersCnt011
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0119132718
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IRS990/UponRequestInd0X
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IRS990/USAddress/CityNm0CEDAR FALLS
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IRS990/USAddress/ZIPCd050613
IRS990/VotingMembersGoverningBodyCnt011
IRS990/VotingMembersIndependentCnt011
IRS990/WebsiteAddressTxt0WWW.CFCCU.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0HELEN PEARCE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT/CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum03192667531
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-05-04
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CEDAR FALLS COMMUNITY CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0CEDA
ReturnHeader/Filer/EIN0420817536
ReturnHeader/Filer/PhoneNum03192667531
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ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt070.167.146.228
ReturnHeader/FilingSecurityInformation/IPDt02018-05-11
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm010:23:56
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0470749138
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0PETERSEN & ASSOCIATES
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0506 E GOLD COAST RD STE 100
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0PAPILLION
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0680464790
ReturnHeader/PreparerPersonGrp/PhoneNum04023332800
ReturnHeader/PreparerPersonGrp/PreparationDt02018-05-11
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0STEVEN O PETERSEN
ReturnHeader/ReturnTs02018-05-11T10:23:56-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$119,132,718
Liabilities
$101,792,992
Net assets
$17,339,726
Revenue
$5,323,198
Expenses
$3,624,862
Net income
$1,698,336
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$172$147$25.4$6.85$5.02$1.82
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$148$126$21.7$6.47$5.05$1.42
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$127$107$20.5$6.18$4.56$1.61
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$119$100$19.0$5.81$3.95$1.86
2017Detailed filing. Detailed filing data is available for this year.$119$102$17.3$5.32$3.62$1.70
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$108$92.2$15.6$4.79$3.18$1.61
2015Facts available. Structured filing facts are available, but richer extracted sections are limited.$100$85.9$14.2$4.72$2.96$1.76
2013Detailed filing. Detailed filing data is available for this year.$92.7$81.5$11.2$4.36$3.02$1.33
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$87.5$78.5$8.98$3.37
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$83.5$75.4$8.11$3.84
Peer Organizations

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