Civic Intelligence

S E C U Credit Union

990 • Fiscal year 2013 • EIN 42-6077674

Jan 01, 2013 to Dec 31, 2013 • Filed on May 05, 2014

Organization ProfileN/A

View Organization Page

3200 Main StKeokuk, IA 52632

(319) 524-4560

Siviq Scores

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

Liabilities / Assets

26th percentile

0.76x

Higher debt load relative to assets than 26% of similar nonprofits.

2013 filings • 501(c)14 • $1M-$5M nonprofits • Source year 2013

Liabilities / Revenue

46th percentile

15.60x

Higher debt load relative to revenue than 46% of similar nonprofits.

2013 filings • 501(c)14 • $1M-$5M nonprofits • Source year 2013

Net Margin

79th percentile

14%

Higher net margin than 79% of similar nonprofits.

2013 filings • 501(c)14 • $1M-$5M nonprofits • Source year 2013

Top Officer Pay

20th percentile

$0

Higher top officer pay than 20% of similar nonprofits.

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

2013 filings • 501(c)14 • $1M-$5M nonprofits • Source year 2013

Asset Growth

62nd percentile

2.1%

Faster asset growth than 62% of similar nonprofits.

2013 filings • 501(c)14 • $1M-$5M nonprofits • Annualized from 2012 to 2013

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2013

Balance Sheet
Liabilities / Assets26th percentile

Assets

Up

$1,894,366

Up $39,572 (+2.1%) from 2012

Net Assets

Up

$462,218

Up $12,522 (+2.8%) from 2012

Liabilities

Up

$1,432,148

Up $27,050 (+1.9%) from 2012

Revenue And Expenses
Liabilities / Revenue46th percentileNet Margin79th percentile

Revenue

$91,803

No earlier filing loaded for comparison.

Expenses

Up

$79,281

Up $10,769 (+16%) from 2012

Net Income

$12,522

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth62nd percentile

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

$3.0M$2.0M$1.0M$0Assets 2010: $1,586,972Liabilities 2010: $1,207,669Net Assets 2010: $379,3032010Assets 2012: $1,854,794Liabilities 2012: $1,405,098Net Assets 2012: $449,6962012Assets 2013: $1,894,366Liabilities 2013: $1,432,148Net Assets 2013: $462,2182013Assets 2014: $1,986,921Liabilities 2014: $1,514,670Net Assets 2014: $472,2512014Assets 2015: $2,121,084Liabilities 2015: $1,654,425Net Assets 2015: $466,6592015Assets 2016: $2,110,881Liabilities 2016: $1,646,045Net Assets 2016: $464,8362016Assets 2017: $2,101,518Liabilities 2017: $1,618,357Net Assets 2017: $483,1612017Assets 2018: $1,972,874Liabilities 2018: $1,466,103Net Assets 2018: $506,7712018Assets 2019: $1,967,116Liabilities 2019: $1,451,425Net Assets 2019: $515,6912019Assets 2021: $2,163,122Liabilities 2021: $1,650,083Net Assets 2021: $513,0392021Assets 2022: $1,685,011Liabilities 2022: $1,185,991Net Assets 2022: $499,0202022Assets 2024: $1,664,483Liabilities 2024: $1,094,342Net Assets 2024: $570,1412024

Highlighted filing

2013

Assets$1,894,366
Liabilities$1,432,148
Net Assets$462,218
Open 2013 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$150K$100K$50K$0-$50KExpenses 2010: $75,1262010Expenses 2012: $68,5122012Revenue 2013: $91,803Expenses 2013: $79,281Net Income 2013: $12,5222013Revenue 2014: $85,562Expenses 2014: $75,529Net Income 2014: $10,0332014Revenue 2015: $75,119Expenses 2015: $80,711Net Income 2015: -$5,5922015Revenue 2016: $74,488Expenses 2016: $76,311Net Income 2016: -$1,8232016Revenue 2017: $86,063Expenses 2017: $67,738Net Income 2017: $18,3252017Revenue 2018: $103,364Expenses 2018: $79,754Net Income 2018: $23,6102018Revenue 2019: $96,851Expenses 2019: $87,931Net Income 2019: $8,9202019Revenue 2021: $64,214Expenses 2021: $65,328Net Income 2021: -$1,1142021Revenue 2022: $71,358Expenses 2022: $85,377Net Income 2022: -$14,0192022Revenue 2024: $114,360Expenses 2024: $72,356Net Income 2024: $42,0042024

Highlighted filing

2013

Revenue$91,803
Expenses$79,281
Net Income$12,522
Open 2013 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
May 5, 2014
Return Version
2013v3.1
Gross Receipts
$91,803
Mission and Program Overview

Mission

State chartered credit union

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$936,201$1,093,846▲ $157,645
Savings and Temporary Cash Investments$891,516$772,934▼ $118,582
Rtn Earn Endowment Incm Other Fnds$333,685$346,207▲ $12,522
Pd in Cap Srpls Land Bldg Eqp Fund$116,011$116,011→ $0
Prepaid Expenses and Deferred Charges$1,907$1,959▲ $52
Accounts Receivable$361$491▲ $130
Cash and Non-Interest-Bearing Accounts$7,064$101▼ $6,963
Total Assets$1,854,794$1,894,366▲ $39,572
Other Assets Total$17,745$25,035▲ $7,290
Liabilities
Other Liabilities$1,401,592$1,428,376▲ $26,784
Accounts Payable and Accrued Expenses$3,506$3,772▲ $266
Total Liabilities$1,405,098$1,432,148▲ $27,050
Net Assets / Fund Balance
Total Net Assets Fund Balance$449,696$462,218▲ $12,522
Total Liabilities and Net Assets / Fund Balance$1,854,794$1,894,366▲ $39,572

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$9,341$9,341
Compensation and Service Providers
Top Officer Pay20th percentile

Board Members and Trustees

NameTitle
Carol LovellBoard Member
Diana PenningtonBoard Member
Jeanie ClarkBoard Member
Jeremy LetcherBoard Member
Mike ConoverBoard Member
Randy DavisBoard Member
Raymond WhiteBoard Member
Sam LetcherBoard Member
Sharron SeayBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$83,282
Investment Income
$8,521
Other Revenue
$0
Change in Net Assets
$12,522
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$44,881
Salaries, Compensation, and Employee Benefits$34,400
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$32,065
Insurance---$9,606
Office Expenses---$7,105
All Other Expenses---$4,352
Other Expenses---$3,500
Payroll Taxes---$2,335
Advertising---$50
Total Functional Expenses$0$0$0$79,281
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$1,428,376
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
No
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

“Randy davis diana pennington board member board member family relationship sam letcher jeremy letcher board member board member family relationship”

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 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 2013.”

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

EIN
42-6077674
Phone
3195244560

Signing Officer

Name
Ms Jill Buckert
Title
Manager
Phone
3195244560
Signed
2014-05-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ms Jill Buckert
Formed
1963
Legal Domicile
Ia
Voting Board Members
9
Independent Board Members
9
Employees
1
Volunteers
9

Preparer

Preparer
Steven O Petersen
Phone
4023332800
Supplemental Narrative

Additional Explanations

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

“N/A”

Form 990, Page 5, Part V, Line 3B

“The credit union provides financial services to its members. All income and expenses are deemed related to the overall objective of member services.”

Raw XML Appendix319 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 PROVIDES FINANCIAL SERVICES TO ITS MEMBERS. ALL INCOME AND EXPENSES ARE DEEMED RELATED TO THE OVERALL OBJECTIVE OF MEMBER SERVICES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2RANDY DAVIS DIANA PENNINGTON BOARD MEMBER BOARD MEMBER FAMILY RELATIONSHIP SAM LETCHER JEREMY LETCHER BOARD MEMBER BOARD MEMBER FAMILY RELATIONSHIP
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL DEPOSITORS ARE CONSIDERED MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE CREDIT UNION MEMBERS ELECT ON AN ANNUAL BASIS THE MEMBERS OF THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ANY PROPOSED MERGERS MUST BE APPROVED BY A MAJORITY OF THE MEMBERSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE 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 2013.
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/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 5, PART V, LINE 3B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 11B
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt079281
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01405098
IRS990/TotalLiabilitiesEOYAmt01432148
IRS990/TotalLiabilitiesGrp/BOYAmt01405098
IRS990/TotalLiabilitiesGrp/EOYAmt01432148
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0449696
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0462218
IRS990/TotalProgramServiceRevenueAmt083282
IRS990/TotalRevenueGrp/ExclusionAmt091803
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt091803
IRS990/TotalVolunteersCnt09
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01854794
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01894366
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine103200 MAIN ST
IRS990/USAddress/City0KEOKUK
IRS990/USAddress/State0IA
IRS990/USAddress/ZIPCode052632
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02015-11-30 17:44:51Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0MS JILL BUCKERT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0MANAGER
ReturnHeader/BusinessOfficerGrp/PhoneNum03195244560
ReturnHeader/BusinessOfficerGrp/SignatureDt02014-05-05
ReturnHeader/Filer/BusinessName/BusinessNameLine10S E C U CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0SECU
ReturnHeader/Filer/EIN0426077674
ReturnHeader/Filer/PhoneNum03195244560
ReturnHeader/Filer/USAddress/AddressLine103200 MAIN ST
ReturnHeader/Filer/USAddress/City0KEOKUK
ReturnHeader/Filer/USAddress/State0IA
ReturnHeader/Filer/USAddress/ZIPCode052632
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10PETERSEN & ASSOCIATES
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine101410 GOLD COAST RD 400
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0PAPILLION
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0NE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode0680465742
ReturnHeader/PreparerPersonGrp/PhoneNum04023332800
ReturnHeader/PreparerPersonGrp/PreparationDt02014-05-08
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0STEVEN O PETERSEN
ReturnHeader/ReturnTs02014-05-08T08:13:03-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-01-01
ReturnHeader/TaxPeriodEndDt02013-12-31
ReturnHeader/TaxYr02013

Document Assets

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Filings

Displayed year

2013 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,894,366
Liabilities
$1,432,148
Net assets
$462,218
Revenue
$91,803
Expenses
$79,281
Net income
$12,522
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.66$1.09$0.57$0.11$0.07$0.04
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.69$1.19$0.50$0.07$0.09$0.01
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.16$1.65$0.51$0.06$0.07$0.00
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.97$1.45$0.52$0.10$0.09$0.01
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.97$1.47$0.51$0.10$0.08$0.02
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.10$1.62$0.48$0.09$0.07$0.02
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.11$1.65$0.46$0.07$0.08$0.00
2015Detailed filing. Detailed filing data is available for this year.$2.12$1.65$0.47$0.08$0.08$0.01
2014Detailed filing. Detailed filing data is available for this year.$1.99$1.51$0.47$0.09$0.08$0.01
2013Detailed filing. Detailed filing data is available for this year.$1.89$1.43$0.46$0.09$0.08$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.85$1.41$0.45$0.07
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.59$1.21$0.38$0.08