Civic Intelligence

Midwest Community Credit Union

990 • Fiscal year 2017 • EIN 42-0860407

Jan 01, 2017 to Dec 31, 2017 • Filed on Apr 24, 2018

Organization ProfileWWW.MIDWESTCREDITUNION.COM
1909 Old South PalmettoSioux City, IA 51106

(712) 276-1328

Siviq Scores

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

Liabilities / Assets

89th percentile

0.92x

Higher debt load relative to assets than 89% of similar nonprofits.

2017 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2017

Liabilities / Revenue

91st percentile

29.49x

Higher debt load relative to revenue than 91% of similar nonprofits.

2017 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2017

Net Margin

84th percentile

18%

Higher net margin than 84% of similar nonprofits.

2017 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2017

Top Officer Pay

9th percentile

$0

Higher top officer pay than 9% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2017 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2017

Asset Growth

86th percentile

7.9%

Faster asset growth than 86% of similar nonprofits.

2017 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2016 to 2017

Revenue Growth

67th percentile

8.1%

Faster revenue growth than 67% of similar nonprofits.

2017 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets89th percentile

Assets

Up

$30,993,575

Up $2,279,149 (+7.9%) from 2016

Net Assets

Up

$2,588,541

Up $169,048 (+7.0%) from 2016

Liabilities

Up

$28,405,034

Up $2,110,101 (+8.0%) from 2016

Revenue And Expenses
Liabilities / Revenue91st percentileNet Margin84th percentile

Revenue

Up

$963,279

Up $71,842 (+8.1%) from 2016

Expenses

Up

$794,231

Up $5,197 (+0.7%) from 2016

Net Income

Up

$169,048

Up $66,645 (+65%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth86th percentile

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

$60M$40M$20M$0Assets 2010: $20,722,649Liabilities 2010: $18,821,499Net Assets 2010: $1,901,1502010Assets 2011: $21,673,504Liabilities 2011: $19,662,224Net Assets 2011: $2,011,2802011Assets 2013: $23,769,659Liabilities 2013: $21,632,789Net Assets 2013: $2,136,8702013Assets 2014: $25,309,826Liabilities 2014: $23,086,578Net Assets 2014: $2,223,2482014Assets 2015: $27,043,551Liabilities 2015: $24,726,461Net Assets 2015: $2,317,0902015Assets 2016: $28,714,426Liabilities 2016: $26,294,933Net Assets 2016: $2,419,4932016Assets 2017: $30,993,575Liabilities 2017: $28,405,034Net Assets 2017: $2,588,5412017Assets 2018: $29,634,688Liabilities 2018: $26,884,327Net Assets 2018: $2,750,3612018Assets 2019: $30,459,622Liabilities 2019: $27,534,891Net Assets 2019: $2,924,7312019Assets 2020: $35,849,395Liabilities 2020: $32,836,753Net Assets 2020: $3,012,6422020Assets 2021: $42,501,220Liabilities 2021: $39,519,324Net Assets 2021: $2,981,8962021Assets 2022: $44,520,720Liabilities 2022: $41,450,730Net Assets 2022: $3,069,9902022Assets 2023: $0Liabilities 2023: $0Net Assets 2023: $02023

Highlighted filing

2017

Assets$30,993,575
Liabilities$28,405,034
Net Assets$2,588,541
Open 2017 Filing

Operations Trend

Revenue Growth67th percentile

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

$4.0M$2.0M$0-$2.0M-$4.0MExpenses 2010: $906,5812010Expenses 2011: $797,1772011Revenue 2013: $859,897Expenses 2013: $785,378Net Income 2013: $74,5192013Revenue 2014: $828,023Expenses 2014: $741,645Net Income 2014: $86,3782014Revenue 2015: $842,273Expenses 2015: $748,431Net Income 2015: $93,8422015Revenue 2016: $891,437Expenses 2016: $789,034Net Income 2016: $102,4032016Revenue 2017: $963,279Expenses 2017: $794,231Net Income 2017: $169,0482017Revenue 2018: $1,026,856Expenses 2018: $865,046Net Income 2018: $161,8102018Revenue 2019: $1,087,526Expenses 2019: $913,156Net Income 2019: $174,3702019Revenue 2020: $1,032,894Expenses 2020: $944,983Net Income 2020: $87,9112020Revenue 2021: $1,044,793Expenses 2021: $1,075,539Net Income 2021: -$30,7462021Revenue 2022: $1,051,356Expenses 2022: $963,262Net Income 2022: $88,0942022Revenue 2023: $693,109Expenses 2023: $3,362,931Net Income 2023: -$2,669,8222023

Highlighted filing

2017

Revenue$963,279
Expenses$794,231
Net Income$169,048
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Apr 24, 2018
Return Version
2017v2.3
Gross Receipts
$963,279
Mission and Program Overview

Mission

State chartered credit union

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$16,396,020$19,643,764▲ $3,247,744
Other Notes and Loans Receivable, Net$9,391,313$9,312,324▼ $78,989
Rtn Earn Endowment Incm Other Fnds$1,507,564$1,676,612▲ $169,048
Investments in Publicly Traded Securities$2,176,439$1,238,153▼ $938,286
Pd in Cap Srpls Land Bldg Eqp Fund$911,929$911,929→ $0
Cash and Non-Interest-Bearing Accounts$335,821$352,574▲ $16,753
Land, Buildings, and Equipment, Net$113,208$106,540▼ $6,668
Prepaid Expenses and Deferred Charges$19,481$40,018▲ $20,537
Accounts Receivable$1,125$3,866▲ $2,741
Total Assets$28,714,426$30,993,575▲ $2,279,149
Other Assets Total$281,019$296,336▲ $15,317
Liabilities
Other Liabilities$26,146,690$28,238,951▲ $2,092,261
Accounts Payable and Accrued Expenses$148,243$166,083▲ $17,840
Total Liabilities$26,294,933$28,405,034▲ $2,110,101
Net Assets / Fund Balance
Total Net Assets Fund Balance$2,419,493$2,588,541▲ $169,048
Total Liabilities and Net Assets / Fund Balance$28,714,426$30,993,575▲ $2,279,149

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$32,816$463,975$496,791
Buildings$48,892$116,585$165,477
Land$24,832-$24,832
Compensation and Service Providers
Top Officer Pay9th percentile

Board Members and Trustees

NameTitle
Bruce ThomasBoard Member
Gregory MillerBoard Member
Harlan SalvotueiBoard Member
James ChartierBoard Member
Kevin McgregorBoard Member
Laurie BaldwinBoard Member
Mary Kay AugustineBoard Member
Patrick CunnighamBoard Member
Patty ElyBoard Member
Steve AmbroseBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$637,795
Investment Income
$325,484
Other Revenue
$0
Change in Net Assets
$169,048
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$504,509
Salaries, Compensation, and Employee Benefits$289,722
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$241,255
Office Expenses---$53,678
All Other Expenses---$53,455
Occupancy---$31,919
Other Employee Benefits---$24,918
Insurance---$21,648
Other Expenses---$20,344
Payroll Taxes---$19,612
Advertising---$17,318
Depreciation Depletion---$14,016
Conferences and Meetings---$8,742
Pension Plan Contributions---$3,937
Fees for Services Legal---$500
Total Functional Expenses$0$0$0$794,231
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$28,238,951
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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 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
Midwest Community Credit Union
EIN
42-0860407
Phone
7122761328
Address
1909 OLD SOUTH PALMETTO, SIOUX CITY, IA 51106

Signing Officer

Name
Patricia Friedrichsen
Title
CEO
Phone
7122761328
Signed
2018-04-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Patricia Friedrichsen
Formed
1956
Legal Domicile
Ia
Voting Board Members
11
Independent Board Members
11
Employees
11
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”

Raw XML Appendix350 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/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0N/A
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALL DEPOSITORS ARE CONSIDERED MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE CREDIT UNION MEMBERS ELECT ON AN ANNUAL BASIS THE MEMBERS OF THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ANY PROPOSED MERGERS MUST BE APPROVED BY A MAJORITY OF THE MEMBERSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE 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/ExplanationTxt6THE 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/ExplanationTxt7THE 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/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt030993575
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IRS990/TotalAssetsGrp/EOYAmt030993575
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt011
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0794231
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt026294933
IRS990/TotalLiabilitiesEOYAmt028405034
IRS990/TotalLiabilitiesGrp/BOYAmt026294933
IRS990/TotalLiabilitiesGrp/EOYAmt028405034
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02419493
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02588541
IRS990/TotalProgramServiceRevenueAmt0637795
IRS990/TotalRevenueGrp/ExclusionAmt0963279
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0963279
IRS990/TotalVolunteersCnt011
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt028714426
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt030993575
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01909 OLD SOUTH PALMETTO
IRS990/USAddress/CityNm0SIOUX CITY
IRS990/USAddress/StateAbbreviationCd0IA
IRS990/USAddress/ZIPCd051106
IRS990/VotingMembersGoverningBodyCnt011
IRS990/VotingMembersIndependentCnt011
IRS990/WebsiteAddressTxt0WWW.MIDWESTCREDITUNION.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0PATRICIA FRIEDRICHSEN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum07122761328
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-04-24
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MIDWEST COMMUNITY CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0MIDW
ReturnHeader/Filer/EIN0420860407
ReturnHeader/Filer/PhoneNum07122761328
ReturnHeader/Filer/USAddress/AddressLine1Txt01909 OLD SOUTH PALMETTO
ReturnHeader/Filer/USAddress/CityNm0SIOUX CITY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IA
ReturnHeader/Filer/USAddress/ZIPCd051106
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0AA5E5617F0C7F7CF9897F415F01B95D9C4C9C7A2
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0AA5E5617F0C7F7CF9897F415F01B95D9C4C9C7A2
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt070.167.146.228
ReturnHeader/FilingSecurityInformation/IPDt02018-05-03
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm010:01:03
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/PreparationDt02018-05-01
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0STEVEN O PETERSEN
ReturnHeader/ReturnTs02018-05-03T10:01:03-05:00
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
$30,993,575
Liabilities
$28,405,034
Net assets
$2,588,541
Revenue
$963,279
Expenses
$794,231
Net income
$169,048
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.00$0.00$0.00$0.69$3.36$2.67
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$44.5$41.5$3.07$1.05$0.96$0.09
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$42.5$39.5$2.98$1.04$1.08$0.03
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$35.8$32.8$3.01$1.03$0.94$0.09
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$30.5$27.5$2.92$1.09$0.91$0.17
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$29.6$26.9$2.75$1.03$0.87$0.16
2017Detailed filing. Detailed filing data is available for this year.$31.0$28.4$2.59$0.96$0.79$0.17
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$28.7$26.3$2.42$0.89$0.79$0.10
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$27.0$24.7$2.32$0.84$0.75$0.09
2014Detailed filing. Detailed filing data is available for this year.$25.3$23.1$2.22$0.83$0.74$0.09
2013Detailed filing. Detailed filing data is available for this year.$23.8$21.6$2.14$0.86$0.79$0.07
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$21.7$19.7$2.01$0.80
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$20.7$18.8$1.90$0.91
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2017 filings • 501(c)14 • $25M-$50M nonprofits