Civic Intelligence

River Valley Credit Union

990 • Fiscal year 2019 • EIN 42-6061323

Jan 01, 2019 to Dec 31, 2019 • Filed on Oct 13, 2020

Organization ProfileWWW.RVCU.ORG

View Organization Page

2811 East 13th StreetAmes, IA 50010

(515) 232-1654

Siviq Scores

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

Liabilities / Assets

61st percentile

0.89x

Higher debt load relative to assets than 61% of similar nonprofits.

2019 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2019

Liabilities / Revenue

91st percentile

22.78x

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

2019 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2019

Net Margin

92nd percentile

24%

Higher net margin than 92% of similar nonprofits.

2019 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2019

Top Officer Pay

13th percentile

$100,111

Higher top officer pay than 13% of similar nonprofits.

Top officer pay equals 3.3% of source-year revenue.

2019 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2019

Asset Growth

92nd percentile

10%

Faster asset growth than 92% of similar nonprofits.

2019 filings • 501(c)14 • $50M-$100M nonprofits • Annualized from 2018 to 2019

Revenue Growth

98th percentile

29%

Faster revenue growth than 98% of similar nonprofits.

2019 filings • 501(c)14 • $50M-$100M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets61st percentile

Assets

Up

$77,530,735

Up $7,335,890 (+10%) from 2018

Net Assets

Up

$8,470,352

Up $742,407 (+9.6%) from 2018

Liabilities

Up

$69,060,383

Up $6,593,483 (+11%) from 2018

Revenue And Expenses
Liabilities / Revenue91st percentileNet Margin92nd percentile

Revenue

Up

$3,031,141

Up $687,628 (+29%) from 2018

Expenses

Up

$2,288,735

Up $454,973 (+25%) from 2018

Net Income

Up

$742,406

Up $232,655 (+46%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth92nd percentile

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

$150M$100M$50M$0Assets 2010: $45,238,448Liabilities 2010: $40,476,434Net Assets 2010: $4,762,0142010Assets 2013: $50,418,106Liabilities 2013: $44,631,616Net Assets 2013: $5,786,4902013Assets 2014: $51,878,703Liabilities 2014: $45,762,878Net Assets 2014: $6,115,8252014Assets 2015: $56,140,939Liabilities 2015: $49,647,818Net Assets 2015: $6,493,1212015Assets 2016: $59,937,587Liabilities 2016: $53,110,204Net Assets 2016: $6,827,3832016Assets 2017: $62,600,083Liabilities 2017: $55,381,889Net Assets 2017: $7,218,1942017Assets 2018: $70,194,845Liabilities 2018: $62,466,900Net Assets 2018: $7,727,9452018Assets 2019: $77,530,735Liabilities 2019: $69,060,383Net Assets 2019: $8,470,3522019Assets 2020: $85,973,664Liabilities 2020: $76,766,857Net Assets 2020: $9,206,8072020Assets 2021: $87,194,590Liabilities 2021: $77,433,440Net Assets 2021: $9,761,1502021Assets 2022: $93,266,661Liabilities 2022: $82,879,521Net Assets 2022: $10,387,1402022Assets 2023: $103,386,070Liabilities 2023: $92,135,523Net Assets 2023: $11,250,5472023Assets 2024: $107,620,613Liabilities 2024: $95,544,921Net Assets 2024: $12,075,6922024

Highlighted filing

2019

Assets$77,530,735
Liabilities$69,060,383
Net Assets$8,470,352
Open 2019 Filing

Operations Trend

Revenue Growth98th percentile

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

$6.0M$4.0M$2.0M$0Expenses 2010: $1,955,4482010Revenue 2013: $1,905,304Expenses 2013: $1,554,575Net Income 2013: $350,7292013Revenue 2014: $1,871,370Expenses 2014: $1,542,034Net Income 2014: $329,3362014Revenue 2015: $1,973,237Expenses 2015: $1,595,941Net Income 2015: $377,2962015Revenue 2016: $2,030,454Expenses 2016: $1,696,192Net Income 2016: $334,2622016Revenue 2017: $2,108,544Expenses 2017: $1,717,733Net Income 2017: $390,8112017Revenue 2018: $2,343,513Expenses 2018: $1,833,762Net Income 2018: $509,7512018Revenue 2019: $3,031,141Expenses 2019: $2,288,735Net Income 2019: $742,4062019Revenue 2020: $3,023,543Expenses 2020: $2,287,088Net Income 2020: $736,4552020Revenue 2021: $2,682,849Expenses 2021: $2,128,505Net Income 2021: $554,3442021Revenue 2022: $2,815,694Expenses 2022: $2,189,704Net Income 2022: $625,9902022Revenue 2023: $4,053,420Expenses 2023: $3,190,013Net Income 2023: $863,4072023Revenue 2024: $5,079,638Expenses 2024: $4,254,493Net Income 2024: $825,1452024

Highlighted filing

2019

Revenue$3,031,141
Expenses$2,288,735
Net Income$742,406
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Oct 13, 2020
Return Version
2019v5.1
Gross Receipts
$3,031,141
Mission and Program Overview

Mission

River valley credit union operates for the primary purpose of promoting thrift, providing credit at a reasonable rate and providing other financial services to members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$49,537,764$55,726,950▲ $6,189,186
Investments Program Related$16,661,344$11,420,472▼ $5,240,872
Savings and Temporary Cash Investments$1,255,848$7,716,857▲ $6,461,009
Rtn Earn Endowment Incm Other Fnds$5,566,787$6,260,981▲ $694,194
Pd in Cap Srpls Land Bldg Eqp Fund$2,161,158$2,209,371▲ $48,213
Land, Buildings, and Equipment, Net$810,316$846,754▲ $36,438
Cash and Non-Interest-Bearing Accounts$946,081$806,276▼ $139,805
Prepaid Expenses and Deferred Charges$271,823$289,635▲ $17,812
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$70,194,845$77,530,735▲ $7,335,890
Other Assets Total$711,669$723,791▲ $12,122
Liabilities
Other Liabilities$55,189,869$61,955,976▲ $6,766,107
Accounts Payable and Accrued Expenses$7,277,031$7,104,407▼ $172,624
Total Liabilities$62,466,900$69,060,383▲ $6,593,483
Net Assets / Fund Balance
Total Net Assets Fund Balance$7,727,945$8,470,352▲ $742,407
Total Liabilities and Net Assets / Fund Balance$70,194,845$77,530,735▲ $7,335,890

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$666,933$504,073$1,171,006
Equipment$75,092$389,389$464,481
Land$92,721-$92,721
Leasehold Improvements$12,008$64,853$76,861
Investment Program Related Org$84,272--
Compensation and Service Providers
Top Officer Pay13th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Brian GoodwinCEOFT$93,679$6,432$100,111
Deb BoetelVP of LendingFT$79,514$10,298$89,812
Joseph WebVP of OperationsFT$20,185$2,133$22,318

Board Members and Trustees

NameTitle
Warren MuellerAudit Chair
Brenda L LykinsBoard Chair
Jeffery J StarnesCredit Chair
Kevin J AndersonVice-chair
Mary Ann McintireAudit Committee
Ron MorganAudit Committee
Joel HalversonCFO
Carol BelzerCredit Committee
Brian GreffSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,176,114
Investment Income
$466,271
Other Revenue
$388,756
Change in Net Assets
$742,406

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,031,141
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$3,031,141
Total Revenue per Form 990
$3,031,141
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,440,539
Salaries, Compensation, and Employee Benefits$848,196
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$487,391--$487,391
Interest$361,877--$361,877
Current Officers, Directors, Trustees, and Key Employees$212,241--$212,241
Information Technology$145,569--$145,569
All Other Expenses$132,422--$132,422
Office Expenses$119,409--$119,409
Occupancy$93,569--$93,569
Other Employee Benefits$83,639--$83,639
Other Expenses$83,623--$83,623
Depreciation Depletion$71,780--$71,780
Advertising$63,212--$63,212
Payroll Taxes$57,501--$57,501
Fees for Services Accounting$24,960--$24,960
Insurance$23,409--$23,409
Travel$9,270--$9,270
Payments to Affiliates$7,513--$7,513
Pension Plan Contributions$7,424--$7,424
Conferences and Meetings$2,761--$2,761
Total Functional Expenses$2,288,735$0$0$2,288,735

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,288,735
Total Expenses per Audited Statements$2,288,735
Total Expenses per Form 990$2,288,735
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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$61,955,976
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
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, Part VI, Section A, Line 6

“River valley credit union is supported by its members.”

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

“Members elect board of directors at an annual meeting. Three directors are elected each year and serve a three year term.”

Form 990, Part VI, Section B, Line 11B

“A copy of the form 990 was not provided to the organization's governing body before it was filed. Ceo informs directors of filing information provided.”

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

“The organization reviews transactions several times throughout the year. Review and enforcement is done by the organization when external auditors perform mid-year and year-end audits. Review and enforcement is done by the organization when the state examiners perform their annual review.”

Form 990, Part VI, Section B, Line 15A

“The ceo salary is available for review by auditors and state examiners. The executive committee uses cuna salary survey reports for comparability data. The ceo reviews and salary recommendation is documented.”

Form 990, Part VI, Section C, Line 19

“Financial statements are posted in the lobby. Additional documents are avialable upon request in the ceo's office at the credit union.”

Filing and Contact Details

Filer

Filer Name
River Valley Credit Union
EIN
42-6061323
Phone
5152321654
Address
2811 EAST 13TH STREET, AMES, IA 50010

Signing Officer

Name
Brian Godwin
Title
CEO
Phone
5152321654
Signed
2020-10-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Brian Godwin
Formed
1961
Legal Domicile
Ia
Voting Board Members
9
Independent Board Members
9
Employees
18
Volunteers
0

Preparer

Firm
Gardiner Company Pc
Address
10555 NEW YORK AVENUE SUITE 200, DES MOINES, IA 50322
Preparer
Dennis Gardiner CPA
Phone
5152701446
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“ROUNDING 1.”

FORM 990, PART XII, LINE 2C:

“The process of selecting an auditor and overseeing the audit has not changed since prior year.”

Financial Statement Notes

PART X, LINE 2:

“In accordance with the income taxes topic of the fasb asc, the credit union evaluates uncertain tax benefits arising from tax positions taken or expected to be taken based upon the likelihood of being sustained upon examnination by applicable tax authorities. If the credit union determines that a tax position is more likely than not of being sustained, it recognizes the largest amount of the arising benefit that is greater than 50% likely of being realized upon settlement in the financial statements. Any tax positions taken or expected to be taken that do not pass the more likely than not test, the credit union establishes reserves offsetting the benefits related to such positions. Interest and penalties, if any, are included in the current period provision for income taxes in the credit union statement of income and are included as a current liability in the balance sheet.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt3CREDIT COMMITTEE
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IRS990/LandBldgEquipAccumDeprecAmt0958315
IRS990/LandBldgEquipBasisNetGrp/BOYAmt0810316
IRS990/LandBldgEquipBasisNetGrp/EOYAmt0846754
IRS990/LandBldgEquipCostOrOtherBssAmt01805069
IRS990/LegalDomicileStateCd0IA
IRS990/LoanOutstandingInd00
IRS990/LocalChaptersInd01
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd01
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MiscellaneousRevenueGrp/RelatedOrExemptFuncIncomeAmt024157
IRS990/MiscellaneousRevenueGrp/TotalRevenueColumnAmt024157
IRS990/MissionDesc0RIVER VALLEY CREDIT UNION OPERATES FOR THE PRIMARY PURPOSE OF PROMOTING THRIFT, PROVIDING CREDIT AT A REASONABLE RATE AND PROVIDING OTHER FINANCIAL SERVICES TO MEMBERS.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt07727945
IRS990/NetAssetsOrFundBalancesEOYAmt08470352
IRS990/NetUnrelatedBusTxblIncmAmt0-11179
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ProgramServicesAmt093569
IRS990/OccupancyGrp/TotalAmt093569
IRS990/OfficeExpensesGrp/ProgramServicesAmt0119409
IRS990/OfficeExpensesGrp/TotalAmt0119409
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0711669
IRS990/OtherAssetsTotalGrp/EOYAmt0723791
IRS990/OtherChangesInNetAssetsAmt01
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt083639
IRS990/OtherEmployeeBenefitsGrp/TotalAmt083639
IRS990/OtherExpensesGrp/Desc0INTEREST ON ICCCU/FHLB
IRS990/OtherExpensesGrp/Desc1CREDIT/DEBIT CARD EXPEN
IRS990/OtherExpensesGrp/Desc2PROVISIONS FOR LOAN LOS
IRS990/OtherExpensesGrp/ProgramServicesAmt0216898
IRS990/OtherExpensesGrp/ProgramServicesAmt184267
IRS990/OtherExpensesGrp/ProgramServicesAmt283623
IRS990/OtherExpensesGrp/TotalAmt0216898
IRS990/OtherExpensesGrp/TotalAmt184267
IRS990/OtherExpensesGrp/TotalAmt283623
IRS990/OtherLiabilitiesGrp/BOYAmt055189869
IRS990/OtherLiabilitiesGrp/EOYAmt061955976
IRS990/OtherRevenueMiscGrp/BusinessCd0522100
IRS990/OtherRevenueMiscGrp/BusinessCd1522100
IRS990/OtherRevenueMiscGrp/BusinessCd2522100
IRS990/OtherRevenueMiscGrp/Desc0SERVICE FEES
IRS990/OtherRevenueMiscGrp/Desc1CREDIT/DEBIT CARD FEES
IRS990/OtherRevenueMiscGrp/Desc2MORTGAGE INTEREST
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt0175631
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt1106817
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt273189
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0175631
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt1115779
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt273189
IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt08962
IRS990/OtherRevenueTotalAmt0388756
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0487391
IRS990/OtherSalariesAndWagesGrp/TotalAmt0487391
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt049537764
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt055726950
IRS990/PartialLiquidationInd00
IRS990/PaymentsToAffiliatesGrp/ProgramServicesAmt07513
IRS990/PaymentsToAffiliatesGrp/TotalAmt07513
IRS990/PayrollTaxesGrp/ProgramServicesAmt057501
IRS990/PayrollTaxesGrp/TotalAmt057501
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt02161158
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt02209371
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt07424
IRS990/PensionPlanContributionsGrp/TotalAmt07424
IRS990/PoliciesReferenceChaptersInd01
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0271823
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0289635
IRS990/PrincipalOfficerNm0BRIAN GODWIN
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0522100
IRS990/ProgramServiceRevenueGrp/Desc0INTEREST ON LOANS
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt02176114
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt02176114
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0451877
IRS990/PYOtherExpensesAmt0978201
IRS990/PYOtherRevenueAmt0456014
IRS990/PYProgramServiceRevenueAmt01435622
IRS990/PYRevenuesLessExpensesAmt0509751
IRS990/PYSalariesCompEmpBnftPaidAmt0855561
IRS990/PYTotalExpensesAmt01833762
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt02343513
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0742406
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd01
IRS990/RevenueAmt02555908
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt05566787
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt06260981
IRS990/SavingsAndTempCashInvstGrp/BOYAmt01255848
IRS990/SavingsAndTempCashInvstGrp/EOYAmt07716857
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt0666933
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0504073
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01171006
IRS990ScheduleD/EquipmentGrp/BookValueAmt075092
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0389389
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0464481
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt02288735
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt011251900
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt184300
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt284272
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0CERTIFICATES OF DEPOSIT
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc1FHLB SHARES
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc2INVESTMENT IN CUSO
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd1C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd2C
IRS990ScheduleD/LandGrp/BookValueAmt092721
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt092721
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt012008
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt064853
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt076861
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt061955976
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MEMBER SHARES
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt03031141
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0IN ACCORDANCE WITH THE INCOME TAXES TOPIC OF THE FASB ASC, THE CREDIT UNION EVALUATES UNCERTAIN TAX BENEFITS ARISING FROM TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN BASED UPON THE LIKELIHOOD OF BEING SUSTAINED UPON EXAMNINATION BY APPLICABLE TAX AUTHORITIES. IF THE CREDIT UNION DETERMINES THAT A TAX POSITION IS MORE LIKELY THAN NOT OF BEING SUSTAINED, IT RECOGNIZES THE LARGEST AMOUNT OF THE ARISING BENEFIT THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED UPON SETTLEMENT IN THE FINANCIAL STATEMENTS. ANY TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT DO NOT PASS THE MORE LIKELY THAN NOT TEST, THE CREDIT UNION ESTABLISHES RESERVES OFFSETTING THE BENEFITS RELATED TO SUCH POSITIONS. INTEREST AND PENALTIES, IF ANY, ARE INCLUDED IN THE CURRENT PERIOD PROVISION FOR INCOME TAXES IN THE CREDIT UNION STATEMENT OF INCOME AND ARE INCLUDED AS A CURRENT LIABILITY IN THE BALANCE SHEET.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0846754
IRS990ScheduleD/TotalBookValueProgramRltdAmt011420472
IRS990ScheduleD/TotalExpensesPerForm990Amt02288735
IRS990ScheduleD/TotalLiabilityAmt061955976
IRS990ScheduleD/TotalRevenuePerForm990Amt03031141
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt03031141
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02288735
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0RIVER VALLEY CREDIT UNION IS SUPPORTED BY ITS MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MEMBERS ELECT BOARD OF DIRECTORS AT AN ANNUAL MEETING. THREE DIRECTORS ARE ELECTED EACH YEAR AND SERVE A THREE YEAR TERM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A COPY OF THE FORM 990 WAS NOT PROVIDED TO THE ORGANIZATION'S GOVERNING BODY BEFORE IT WAS FILED. CEO INFORMS DIRECTORS OF FILING INFORMATION PROVIDED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION REVIEWS TRANSACTIONS SEVERAL TIMES THROUGHOUT THE YEAR. REVIEW AND ENFORCEMENT IS DONE BY THE ORGANIZATION WHEN EXTERNAL AUDITORS PERFORM MID-YEAR AND YEAR-END AUDITS. REVIEW AND ENFORCEMENT IS DONE BY THE ORGANIZATION WHEN THE STATE EXAMINERS PERFORM THEIR ANNUAL REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE CEO SALARY IS AVAILABLE FOR REVIEW BY AUDITORS AND STATE EXAMINERS. THE EXECUTIVE COMMITTEE USES CUNA SALARY SURVEY REPORTS FOR COMPARABILITY DATA. THE CEO REVIEWS AND SALARY RECOMMENDATION IS DOCUMENTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5FINANCIAL STATEMENTS ARE POSTED IN THE LOBBY. ADDITIONAL DOCUMENTS ARE AVIALABLE UPON REQUEST IN THE CEO'S OFFICE AT THE CREDIT UNION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6ROUNDING 1.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE PROCESS OF SELECTING AN AUDITOR AND OVERSEEING THE AUDIT HAS NOT CHANGED SINCE PRIOR YEAR.
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 B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XI, LINE 9:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART XII, LINE 2C:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt070194845
IRS990/TotalAssetsEOYAmt077530735
IRS990/TotalAssetsGrp/BOYAmt070194845
IRS990/TotalAssetsGrp/EOYAmt077530735
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt018
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02288735
IRS990/TotalFunctionalExpensesGrp/TotalAmt02288735
IRS990/TotalGrossUBIAmt08962
IRS990/TotalLiabilitiesBOYAmt062466900
IRS990/TotalLiabilitiesEOYAmt069060383
IRS990/TotalLiabilitiesGrp/BOYAmt062466900
IRS990/TotalLiabilitiesGrp/EOYAmt069060383
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt07727945
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt08470352
IRS990/TotalOtherCompensationAmt018863
IRS990/TotalProgramServiceExpensesAmt02288735
IRS990/TotalProgramServiceRevenueAmt02176114
IRS990/TotalReportableCompFromOrgAmt0193378
IRS990/TotalRevenueGrp/ExclusionAmt0466271
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt02555908

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$77,530,735
Liabilities
$69,060,383
Net assets
$8,470,352
Revenue
$3,031,141
Expenses
$2,288,735
Net income
$742,406
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$108$95.5$12.1$5.08$4.25$0.83
2023Detailed filing. Detailed filing data is available for this year.$103$92.1$11.3$4.05$3.19$0.86
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$93.3$82.9$10.4$2.82$2.19$0.63
2021Detailed filing. Detailed filing data is available for this year.$87.2$77.4$9.76$2.68$2.13$0.55
2020Detailed filing. Detailed filing data is available for this year.$86.0$76.8$9.21$3.02$2.29$0.74
2019Detailed filing. Detailed filing data is available for this year.$77.5$69.1$8.47$3.03$2.29$0.74
2018Detailed filing. Detailed filing data is available for this year.$70.2$62.5$7.73$2.34$1.83$0.51
2017Detailed filing. Detailed filing data is available for this year.$62.6$55.4$7.22$2.11$1.72$0.39
2016Detailed filing. Detailed filing data is available for this year.$59.9$53.1$6.83$2.03$1.70$0.33
2015Detailed filing. Detailed filing data is available for this year.$56.1$49.6$6.49$1.97$1.60$0.38
2014Detailed filing. Detailed filing data is available for this year.$51.9$45.8$6.12$1.87$1.54$0.33
2013Detailed filing. Detailed filing data is available for this year.$50.4$44.6$5.79$1.91$1.55$0.35
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$45.2$40.5$4.76$1.96