Civic Intelligence

The Hub Co Credit Union

990 • Fiscal year 2016 • EIN 42-6060491

Jan 01, 2016 to Dec 31, 2016 • Filed on Feb 21, 2017

Organization ProfileWWW.HUBCOCU.COM

View Organization Page

310 Bank StreetKeokuk, IA 52632

(319) 524-8133

Siviq Scores

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

Liabilities / Assets

73rd percentile

0.90x

Higher debt load relative to assets than 73% of similar nonprofits.

2016 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2016

Liabilities / Revenue

77th percentile

26.40x

Higher debt load relative to revenue than 77% of similar nonprofits.

2016 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2016

Net Margin

54th percentile

6.9%

Higher net margin than 54% of similar nonprofits.

2016 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2016

Top Officer Pay

77th percentile

$92,101

Higher top officer pay than 77% of similar nonprofits.

Top officer pay equals 15.0% of source-year revenue.

2016 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2016

Asset Growth

85th percentile

6.5%

Faster asset growth than 85% of similar nonprofits.

2016 filings • 501(c)14 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Revenue Growth

46th percentile

2.0%

Faster revenue growth than 46% of similar nonprofits.

2016 filings • 501(c)14 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets73rd percentile

Assets

Up

$18,084,686

Up $1,110,790 (+6.5%) from 2015

Net Assets

Up

$1,865,676

Up $42,363 (+2.3%) from 2015

Liabilities

Up

$16,219,010

Up $1,068,427 (+7.1%) from 2015

Revenue And Expenses
Liabilities / Revenue77th percentileNet Margin54th percentile

Revenue

Up

$614,381

Up $12,322 (+2.0%) from 2015

Expenses

Up

$572,018

Up $979 (+0.2%) from 2015

Net Income

Up

$42,363

Up $11,343 (+37%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth85th percentile

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

$30M$20M$10M$0Assets 2010: $13,908,175Liabilities 2010: $12,086,479Net Assets 2010: $1,821,6962010Assets 2011: $13,915,877Liabilities 2011: $12,183,011Net Assets 2011: $1,732,8662011Assets 2012: $14,185,036Liabilities 2012: $12,429,932Net Assets 2012: $1,755,1042012Assets 2013: $15,001,216Liabilities 2013: $13,253,575Net Assets 2013: $1,747,6412013Assets 2014: $15,638,103Liabilities 2014: $13,845,810Net Assets 2014: $1,792,2932014Assets 2015: $16,973,896Liabilities 2015: $15,150,583Net Assets 2015: $1,823,3132015Assets 2016: $18,084,686Liabilities 2016: $16,219,010Net Assets 2016: $1,865,6762016Assets 2017: $18,848,151Liabilities 2017: $16,981,172Net Assets 2017: $1,866,9792017Assets 2018: $18,348,865Liabilities 2018: $16,560,102Net Assets 2018: $1,788,7632018Assets 2019: $18,300,436Liabilities 2019: $16,391,896Net Assets 2019: $1,908,5402019Assets 2020: $20,917,007Liabilities 2020: $18,936,853Net Assets 2020: $1,980,1542020Assets 2021: $22,783,203Liabilities 2021: $20,701,682Net Assets 2021: $2,081,5212021Assets 2022: $0Liabilities 2022: $0Net Assets 2022: $02022

Highlighted filing

2016

Assets$18,084,686
Liabilities$16,219,010
Net Assets$1,865,676
Open 2016 Filing

Operations Trend

Revenue Growth46th percentile

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

$1.0M$500K$0-$500KExpenses 2010: $662,1292010Revenue 2011: $579,191Expenses 2011: $640,867Net Income 2011: -$61,6762011Expenses 2012: $544,5142012Revenue 2013: $554,919Expenses 2013: $562,382Net Income 2013: -$7,4632013Revenue 2014: $592,413Expenses 2014: $547,761Net Income 2014: $44,6522014Revenue 2015: $602,059Expenses 2015: $571,039Net Income 2015: $31,0202015Revenue 2016: $614,381Expenses 2016: $572,018Net Income 2016: $42,3632016Revenue 2017: $659,948Expenses 2017: $658,645Net Income 2017: $1,3032017Revenue 2018: $686,285Expenses 2018: $764,501Net Income 2018: -$78,2162018Revenue 2019: $748,800Expenses 2019: $629,023Net Income 2019: $119,7772019Revenue 2020: $683,898Expenses 2020: $612,284Net Income 2020: $71,6142020Revenue 2021: $617,476Expenses 2021: $516,109Net Income 2021: $101,3672021Revenue 2022: $531,697Expenses 2022: $648,203Net Income 2022: -$116,5062022

Highlighted filing

2016

Revenue$614,381
Expenses$572,018
Net Income$42,363
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Feb 21, 2017
Return Version
2016v3.0
Gross Receipts
$614,381
Mission and Program Overview

Mission

State chartered credit union

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$9,602,640$9,059,215▼ $543,425
Other Notes and Loans Receivable, Net$6,423,178$7,994,146▲ $1,570,968
Rtn Earn Endowment Incm Other Fnds$1,169,300$1,211,663▲ $42,363
Pd in Cap Srpls Land Bldg Eqp Fund$654,013$654,013→ $0
Cash and Non-Interest-Bearing Accounts$276,539$361,977▲ $85,438
Investments Other Securities$350,000$350,000→ $0
Land, Buildings, and Equipment, Net$111,510$93,688▼ $17,822
Prepaid Expenses and Deferred Charges$25,396$27,695▲ $2,299
Total Assets$16,973,896$18,084,686▲ $1,110,790
Other Assets Total$184,633$197,965▲ $13,332
Liabilities
Other Liabilities$15,108,156$16,168,029▲ $1,059,873
Accounts Payable and Accrued Expenses$42,427$50,981▲ $8,554
Total Liabilities$15,150,583$16,219,010▲ $1,068,427
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,823,313$1,865,676▲ $42,363
Total Liabilities and Net Assets / Fund Balance$16,973,896$18,084,686▲ $1,110,790

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$40,940$456,390$497,330
Equipment$8,522$167,072$175,594
Land$44,226-$44,226
Compensation and Service Providers
Top Officer Pay77th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Doug NickelGeneral ManaFT$74,325$17,776$92,101

Board Members and Trustees

NameTitle
Roger BryantChair
Edward BazowVice Chair
Arthur SellersBoard Member
Daniel WinnBoard Member
Kimberly RobertsBoard Member
Michael GlasscockBoard Member
Robb KemperBoard Member
Ryan BrothertonBoard Member
Sara KuglerBoard Member
Ivan HasselbuschChief Financ
Jeff WiemannSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$511,562
Investment Income
$102,819
Other Revenue
$0
Change in Net Assets
$42,363
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$332,289
Salaries, Compensation, and Employee Benefits$239,729
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$173,335
Fees for Services Accounting---$66,925
Other Employee Benefits---$51,134
Occupancy---$37,736
Office Expenses---$30,888
Other Expenses---$25,924
Depreciation Depletion---$17,822
Payroll Taxes---$15,260
Insurance---$14,877
All Other Expenses---$14,649
Advertising---$4,215
Conferences and Meetings---$2,918
Total Functional Expenses$0$0$0$572,018
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$16,168,029
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
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
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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 11B

“Organization has no formal review process.”

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

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

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

“The board of directors completes an employee evaluation on the ceo on an annual basis. The employee evaluation is discussed at the board meeting, a motion is made as to the level of compensation and then voted on by the board. The last evaluation was conducted in december 14, 2015.”

Form 990, Page 6, Part VI, Line 19

“No records are made public.”

Filing and Contact Details

Filer

Filer Name
The Hub Co Credit Union
EIN
42-6060491
Phone
3195248133
Address
310 BANK STREET, KEOKUK, IA 52632

Signing Officer

Name
Doug Nickel
Title
General Manager
Phone
3195248133
Signed
2017-02-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Doug Nickel
Formed
1938
Legal Domicile
Ia
Voting Board Members
11
Independent Board Members
11
Employees
4

Preparer

Firm
CPA Associates Pc
Address
PO BOX 547, BURLINGTON, IA 52601
Preparer
Sarah H Beckman
Phone
3197526348
Supplemental Narrative

Additional Explanations

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

“State chartered credit union.”

Raw XML Appendix342 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CREDIT UNION MEMBERS ELECT ON AN ANNUAL BASIS THE MEMBERS OF THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ORGANIZATION HAS NO FORMAL REVIEW PROCESS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE SECURITY MATRIX ON THE DATA PROCESSING SYSTEM PROHIBITS EMPLOYEES AND DIRECTORS FROM INITIATING TRANSACTION ON ALL ACCOUNTS LISTED ON THEIR CONFLICT OF INTEREST DISCLOSURE STATEMENT, WHICH IS UPDATED ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE BOARD OF DIRECTORS COMPLETES AN EMPLOYEE EVALUATION ON THE CEO ON AN ANNUAL BASIS. THE EMPLOYEE EVALUATION IS DISCUSSED AT THE BOARD MEETING, A MOTION IS MADE AS TO THE LEVEL OF COMPENSATION AND THEN VOTED ON BY THE BOARD. THE LAST EVALUATION WAS CONDUCTED IN DECEMBER 14, 2015.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5NO RECORDS ARE MADE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt018084686
IRS990/TotalAssetsGrp/BOYAmt016973896
IRS990/TotalAssetsGrp/EOYAmt018084686
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IRS990/TotalEmployeeCnt04
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0572018
IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesEOYAmt016219010
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IRS990/TotalLiabilitiesGrp/EOYAmt016219010
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01823313
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01865676
IRS990/TotalOtherCompensationAmt017776
IRS990/TotalProgramServiceRevenueAmt0511562
IRS990/TotalReportableCompFromOrgAmt074325
IRS990/TotalRevenueGrp/ExclusionAmt0511562
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0102819
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0614381
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt016973896
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt018084686
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0310 BANK STREET
IRS990/USAddress/CityNm0KEOKUK
IRS990/USAddress/StateAbbreviationCd0IA
IRS990/USAddress/ZIPCd052632
IRS990/VotingMembersGoverningBodyCnt011
IRS990/VotingMembersIndependentCnt011
IRS990/WebsiteAddressTxt0WWW.HUBCOCU.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DOUG NICKEL
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0GENERAL MANAGER
ReturnHeader/BusinessOfficerGrp/PhoneNum03195248133
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-02-21
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE HUB CO CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0HUBC
ReturnHeader/Filer/EIN0426060491
ReturnHeader/Filer/PhoneNum03195248133
ReturnHeader/Filer/USAddress/AddressLine1Txt0310 BANK STREET
ReturnHeader/Filer/USAddress/CityNm0KEOKUK
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IA
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ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId00A9A7476B43551858E0446E680837DB7B6351870
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0EC7AB64AAD88E9CBB775E05450A45B15CF643CCC
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0421144302
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CPA ASSOCIATES PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 547
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BURLINGTON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd052601
ReturnHeader/PreparerPersonGrp/PhoneNum03197526348
ReturnHeader/PreparerPersonGrp/PreparationDt02017-02-18
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SARAH H BECKMAN
ReturnHeader/ReturnTs02017-02-25T15:59:28-06:00
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
$18,084,686
Liabilities
$16,219,010
Net assets
$1,865,676
Revenue
$614,381
Expenses
$572,018
Net income
$42,363
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.53$0.65$0.12
2021Detailed filing. Detailed filing data is available for this year.$22.8$20.7$2.08$0.62$0.52$0.10
2020Detailed filing. Detailed filing data is available for this year.$20.9$18.9$1.98$0.68$0.61$0.07
2019Detailed filing. Detailed filing data is available for this year.$18.3$16.4$1.91$0.75$0.63$0.12
2018Detailed filing. Detailed filing data is available for this year.$18.3$16.6$1.79$0.69$0.76$0.08
2017Detailed filing. Detailed filing data is available for this year.$18.8$17.0$1.87$0.66$0.66$0.00
2016Detailed filing. Detailed filing data is available for this year.$18.1$16.2$1.87$0.61$0.57$0.04
2015Detailed filing. Detailed filing data is available for this year.$17.0$15.2$1.82$0.60$0.57$0.03
2014Detailed filing. Detailed filing data is available for this year.$15.6$13.8$1.79$0.59$0.55$0.04
2013Detailed filing. Detailed filing data is available for this year.$15.0$13.3$1.75$0.55$0.56$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.2$12.4$1.76$0.54
2011Summary only. Only limited summary data is available for this year.$13.9$12.2$1.73$0.58$0.64$0.06
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.9$12.1$1.82$0.66