Civic Intelligence

Cent Credit Union

990 • Fiscal year 2016 • EIN 42-0923713

Jan 01, 2016 to Dec 31, 2016 • Filed on Nov 14, 2017

Organization ProfileWWW.CENTCU.ORG

View Organization Page

25 W State StreetMason City, IA 50401

(641) 424-2368

Siviq Scores

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

Liabilities / Assets

19th percentile

0.84x

Higher debt load relative to assets than 19% of similar nonprofits.

2016 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2016

Liabilities / Revenue

34th percentile

18.11x

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

2016 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2016

Net Margin

89th percentile

18%

Higher net margin than 89% of similar nonprofits.

2016 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2016

Top Officer Pay

11th percentile

$0

Higher top officer pay than 11% of similar nonprofits.

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

2016 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2016

Asset Growth

86th percentile

7.7%

Faster asset growth than 86% of similar nonprofits.

2016 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2015 to 2016

Revenue Growth

96th percentile

15%

Faster revenue growth than 96% of similar nonprofits.

2016 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets19th percentile

Assets

Up

$43,899,030

Up $3,150,073 (+7.7%) from 2015

Net Assets

Up

$7,134,883

Up $368,587 (+5.4%) from 2015

Liabilities

Up

$36,764,147

Up $2,781,486 (+8.2%) from 2015

Revenue And Expenses
Liabilities / Revenue34th percentileNet Margin89th percentile

Revenue

Up

$2,030,229

Up $264,563 (+15%) from 2015

Expenses

Up

$1,661,642

Up $215,750 (+15%) from 2015

Net Income

Up

$368,587

Up $48,813 (+15%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth86th percentile

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

$200M$150M$100M$50M$0Assets 2010: $29,662,921Liabilities 2010: $25,206,702Net Assets 2010: $4,456,2192010Assets 2012: $32,488,652Liabilities 2012: $27,412,389Net Assets 2012: $5,076,2632012Assets 2015: $40,748,957Liabilities 2015: $33,982,661Net Assets 2015: $6,766,2962015Assets 2016: $43,899,030Liabilities 2016: $36,764,147Net Assets 2016: $7,134,8832016Assets 2017: $49,150,937Liabilities 2017: $41,855,992Net Assets 2017: $7,294,9452017Assets 2018: $51,054,112Liabilities 2018: $43,751,467Net Assets 2018: $7,302,6452018Assets 2019: $56,693,695Liabilities 2019: $49,247,657Net Assets 2019: $7,446,0382019Assets 2020: $65,253,827Liabilities 2020: $57,411,898Net Assets 2020: $7,841,9292020Assets 2021: $71,687,831Liabilities 2021: $63,340,484Net Assets 2021: $8,347,3472021Assets 2022: $73,206,978Liabilities 2022: $64,285,487Net Assets 2022: $8,921,4912022Assets 2023: $151,655,245Liabilities 2023: $133,631,850Net Assets 2023: $18,023,3952023Assets 2024: $168,096,833Liabilities 2024: $148,823,438Net Assets 2024: $19,273,3952024

Highlighted filing

2016

Assets$43,899,030
Liabilities$36,764,147
Net Assets$7,134,883
Open 2016 Filing

Operations Trend

Revenue Growth96th percentile

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

$10M$5.0M$0Expenses 2010: $1,192,9002010Expenses 2012: $999,5622012Revenue 2015: $1,765,666Expenses 2015: $1,445,892Net Income 2015: $319,7742015Revenue 2016: $2,030,229Expenses 2016: $1,661,642Net Income 2016: $368,5872016Revenue 2017: $2,428,443Expenses 2017: $2,268,381Net Income 2017: $160,0622017Revenue 2018: $2,938,902Expenses 2018: $2,931,202Net Income 2018: $7,7002018Revenue 2019: $3,125,032Expenses 2019: $2,981,639Net Income 2019: $143,3932019Revenue 2020: $3,394,785Expenses 2020: $2,998,894Net Income 2020: $395,8912020Revenue 2021: $3,482,866Expenses 2021: $2,977,448Net Income 2021: $505,4182021Revenue 2022: $3,739,508Expenses 2022: $3,165,364Net Income 2022: $574,1442022Revenue 2023: $7,633,061Expenses 2023: $6,333,061Net Income 2023: $1,300,0002023Revenue 2024: $9,136,574Expenses 2024: $7,886,574Net Income 2024: $1,250,0002024

Highlighted filing

2016

Revenue$2,030,229
Expenses$1,661,642
Net Income$368,587
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Nov 14, 2017
Return Version
2016v3.0
Gross Receipts
$2,030,229
Mission and Program Overview

Mission

Cent credit union operates for the primary purpose of promoting thrift, providing credit at reasonable rates, and providing other financial services to its members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$28,226,887$34,668,484▲ $6,441,597
Investments Program Related$9,038,201--
Savings and Temporary Cash Investments$1,878,555$7,446,670▲ $5,568,115
Rtn Earn Endowment Incm Other Fnds$5,392,127$4,975,150▼ $416,977
Pd in Cap Srpls Land Bldg Eqp Fund$1,374,169$2,159,733▲ $785,564
Land, Buildings, and Equipment, Net$894,388$995,376▲ $100,988
Cash and Non-Interest-Bearing Accounts$596,702$336,029▼ $260,673
Prepaid Expenses and Deferred Charges$56,791$50,630▼ $6,161
Total Assets$40,748,957$43,899,030▲ $3,150,073
Other Assets Total$57,433$401,841▲ $344,408
Liabilities
Other Liabilities$33,864,404$36,549,521▲ $2,685,117
Accounts Payable and Accrued Expenses$118,257$214,626▲ $96,369
Total Liabilities$33,982,661$36,764,147▲ $2,781,486
Net Assets / Fund Balance
Total Net Assets Fund Balance$6,766,296$7,134,883▲ $368,587
Total Liabilities and Net Assets / Fund Balance$40,748,957$43,899,030▲ $3,150,073

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$669,610$358,355$1,027,965
Land$302,470-$302,470
Equipment$23,296$239,508$262,804
Compensation and Service Providers
Top Officer Pay11th percentile

Board Members and Trustees

NameTitle
Bill OrozcoBoard Member
Dave HickmanBoard Member
David WalswickBoard Member
Deb OrozcoBoard Member
Greg LeeBoard Member
Harland OlsenBoard Member
Harry ShannonBoard Member
Kim SvejdaBoard Member
Mark HeinyBoard Member
Michelle VaskeBoard Member
Ron GuthrieBoard Member
Todd CashBoard Member
William BaslerBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,927,023
Investment Income
$103,206
Other Revenue
$0
Change in Net Assets
$368,587
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$912,374
Salaries, Compensation, and Employee Benefits$749,268
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$630,115
Office Expenses---$157,503
All Other Expenses---$80,879
Occupancy---$69,047
Advertising---$65,740
Depreciation Depletion---$59,736
Payroll Taxes---$58,924
Other Expenses---$51,998
Other Employee Benefits---$41,090
Pension Plan Contributions---$19,139
Insurance---$15,751
Conferences and Meetings---$13,762
Fees for Services Accounting---$12,415
Fees for Services Legal---$1,026
Total Functional Expenses$0$0$0$1,661,642
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$36,549,521
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 2

“Bill orazco deb orazco board member board member husband/wife”

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 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 19

“The monthly financial statements are posted in the credit union 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
Cent Credit Union
EIN
42-0923713
Phone
6414242368
Address
25 W STATE STREET, MASON CITY, IA 50401

Signing Officer

Name
Matthew Chizek
Title
CEO
Phone
6414242368
Signed
2017-11-14

Organization Details

Principal Officer
Matthew Chizek
Formed
1965
Legal Domicile
Ia
Voting Board Members
13
Independent Board Members
13
Employees
26
Volunteers
13

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 Appendix364 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/PYTotalExpensesAmt01445892
IRS990/PYTotalRevenueAmt01765666
IRS990/ReconcilationRevenueExpnssAmt0368587
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IRS990/RelatedEntityInd0false
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IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt05392127
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt04975150
IRS990/SavingsAndTempCashInvstGrp/BOYAmt01878555
IRS990/SavingsAndTempCashInvstGrp/EOYAmt07446670
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IRS990ScheduleD/BuildingsGrp/BookValueAmt0669610
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0358355
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01027965
IRS990ScheduleD/EquipmentGrp/BookValueAmt023296
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0239508
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0262804
IRS990ScheduleD/LandGrp/BookValueAmt0302470
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0302470
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt036549521
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MEMBER SHARES
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0995376
IRS990ScheduleD/TotalLiabilityAmt036549521
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0N/A
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BILL ORAZCO DEB ORAZCO BOARD MEMBER BOARD MEMBER HUSBAND/WIFE
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 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 MONTHLY FINANCIAL STATEMENTS ARE POSTED IN THE CREDIT UNION 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 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 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt040748957
IRS990/TotalAssetsEOYAmt043899030
IRS990/TotalAssetsGrp/BOYAmt040748957
IRS990/TotalAssetsGrp/EOYAmt043899030
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt026
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt01661642
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt033982661
IRS990/TotalLiabilitiesEOYAmt036764147
IRS990/TotalLiabilitiesGrp/BOYAmt033982661
IRS990/TotalLiabilitiesGrp/EOYAmt036764147
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt06766296
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt07134883
IRS990/TotalProgramServiceRevenueAmt01927023
IRS990/TotalRevenueGrp/ExclusionAmt02030229
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02030229
IRS990/TotalVolunteersCnt013
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt040748957
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt043899030
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/USAddress/AddressLine1Txt025 W STATE STREET
IRS990/USAddress/CityNm0MASON CITY
IRS990/USAddress/StateAbbreviationCd0IA
IRS990/USAddress/ZIPCd050401
IRS990/VotingMembersGoverningBodyCnt013
IRS990/VotingMembersIndependentCnt013
IRS990/WebsiteAddressTxt0WWW.CENTCU.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/PersonNm0MATTHEW CHIZEK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum06414242368
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-11-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CENT CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0CENT
ReturnHeader/Filer/EIN0420923713
ReturnHeader/Filer/PhoneNum06414242368
ReturnHeader/Filer/USAddress/AddressLine1Txt025 W STATE STREET
ReturnHeader/Filer/USAddress/CityNm0MASON CITY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IA
ReturnHeader/Filer/USAddress/ZIPCd050401
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0AA5E5617F0C7F7CF9897F415F01B95D9C4C9C7A2
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0AA5E5617F0C7F7CF9897F415F01B95D9C4C9C7A2
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/PreparationDt02017-11-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0STEVEN O PETERSEN
ReturnHeader/ReturnTs02017-11-14T17:07:03-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$43,899,030
Liabilities
$36,764,147
Net assets
$7,134,883
Revenue
$2,030,229
Expenses
$1,661,642
Net income
$368,587
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$168$149$19.3$9.14$7.89$1.25
2023Detailed filing. Detailed filing data is available for this year.$152$134$18.0$7.63$6.33$1.30
2022Detailed filing. Detailed filing data is available for this year.$73.2$64.3$8.92$3.74$3.17$0.57
2021Detailed filing. Detailed filing data is available for this year.$71.7$63.3$8.35$3.48$2.98$0.51
2020Detailed filing. Detailed filing data is available for this year.$65.3$57.4$7.84$3.39$3.00$0.40
2019Detailed filing. Detailed filing data is available for this year.$56.7$49.2$7.45$3.13$2.98$0.14
2018Detailed filing. Detailed filing data is available for this year.$51.1$43.8$7.30$2.94$2.93$0.01
2017Detailed filing. Detailed filing data is available for this year.$49.2$41.9$7.29$2.43$2.27$0.16
2016Detailed filing. Detailed filing data is available for this year.$43.9$36.8$7.13$2.03$1.66$0.37
2015Detailed filing. Detailed filing data is available for this year.$40.7$34.0$6.77$1.77$1.45$0.32
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$32.5$27.4$5.08$1.00
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$29.7$25.2$4.46$1.19