Civic Intelligence

S E C U Credit Union

990 • Fiscal year 2014 • EIN 42-6077674

Jan 01, 2014 to Dec 31, 2014 • Filed on Aug 14, 2015

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

27th percentile

0.76x

Higher debt load relative to assets than 27% of similar nonprofits.

2014 filings • 501(c)14 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

55th percentile

17.70x

Higher debt load relative to revenue than 55% of similar nonprofits.

2014 filings • 501(c)14 • $1M-$5M nonprofits • Source year 2014

Net Margin

74th percentile

12%

Higher net margin than 74% of similar nonprofits.

2014 filings • 501(c)14 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

18th percentile

$0

Higher top officer pay than 18% of similar nonprofits.

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

2014 filings • 501(c)14 • $1M-$5M nonprofits • Source year 2014

Asset Growth

84th percentile

4.9%

Faster asset growth than 84% of similar nonprofits.

2014 filings • 501(c)14 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

27th percentile

-6.8%

Faster revenue growth than 27% of similar nonprofits.

2014 filings • 501(c)14 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets27th percentile

Assets

Up

$1,986,921

Up $92,555 (+4.9%) from 2013

Net Assets

Up

$472,251

Up $10,033 (+2.2%) from 2013

Liabilities

Up

$1,514,670

Up $82,522 (+5.8%) from 2013

Revenue And Expenses
Liabilities / Revenue55th percentileNet Margin74th percentile

Revenue

Down

$85,562

Down $6,241 (-6.8%) from 2013

Expenses

Down

$75,529

Down $3,752 (-4.7%) from 2013

Net Income

Down

$10,033

Down $2,489 (-20%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth84th 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

2014

Assets$1,986,921
Liabilities$1,514,670
Net Assets$472,251
Open 2014 Filing

Operations Trend

Revenue Growth27th percentile

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

2014

Revenue$85,562
Expenses$75,529
Net Income$10,033
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Aug 14, 2015
Return Version
2014v5.0
Gross Receipts
$85,562
Mission and Program Overview

Mission

State chartered credit union

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$772,934$1,084,026▲ $311,092
Other Notes and Loans Receivable, Net$1,093,846$875,362▼ $218,484
Rtn Earn Endowment Incm Other Fnds$346,207$356,240▲ $10,033
Pd in Cap Srpls Land Bldg Eqp Fund$116,011$116,011→ $0
Accounts Receivable$491$877▲ $386
Prepaid Expenses and Deferred Charges$1,959$468▼ $1,491
Cash and Non-Interest-Bearing Accounts$101$101→ $0
Total Assets$1,894,366$1,986,921▲ $92,555
Other Assets Total$25,035$26,087▲ $1,052
Liabilities
Other Liabilities$1,428,376$1,511,271▲ $82,895
Accounts Payable and Accrued Expenses$3,772$3,399▼ $373
Total Liabilities$1,432,148$1,514,670▲ $82,522
Net Assets / Fund Balance
Total Net Assets Fund Balance$462,218$472,251▲ $10,033
Total Liabilities and Net Assets / Fund Balance$1,894,366$1,986,921▲ $92,555

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$9,341$9,341
Compensation and Service Providers
Top Officer Pay18th percentile

Board Members and Trustees

NameTitle
Carol LovellBoard Member
Diana PenningtonBoard Member
Jeanie ClarkBoard 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
$78,225
Investment Income
$7,337
Other Revenue
$0
Change in Net Assets
$10,033
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$41,180
Salaries, Compensation, and Employee Benefits$34,349
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$32,000
Insurance---$9,503
Office Expenses---$7,343
Other Expenses---$2,600
Payroll Taxes---$2,349
All Other Expenses---$1,951
Conferences and Meetings---$250
Advertising---$25
Total Functional Expenses$0$0$0$75,529
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$1,511,271
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”

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 2014.”

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
S E C U Credit Union
EIN
42-6077674
Phone
3195244560
Address
3200 MAIN ST, KEOKUK, IA 52632

Signing Officer

Name
Ms Jill Buckert
Title
Manager
Phone
3195244560
Signed
2015-08-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ms Jill Buckert
Formed
1963
Legal Domicile
Ia
Voting Board Members
7
Independent Board Members
7
Employees
1
Volunteers
7

Preparer

Firm
Petersen & Associates
Address
1410 GOLD COAST RD 400, PAPILLION, NE 68046-5742
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 Appendix307 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
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 2014.
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01894366
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01986921
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt03200 MAIN ST
IRS990/USAddress/CityNm0KEOKUK
IRS990/USAddress/StateAbbreviationCd0IA
IRS990/USAddress/ZIPCd052632
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-04-25 22:37:26Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0MS JILL BUCKERT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0MANAGER
ReturnHeader/BusinessOfficerGrp/PhoneNum03195244560
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-08-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0S E C U CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0SECU
ReturnHeader/Filer/EIN0426077674
ReturnHeader/Filer/PhoneNum03195244560
ReturnHeader/Filer/USAddress/AddressLine1Txt03200 MAIN ST
ReturnHeader/Filer/USAddress/CityNm0KEOKUK
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IA
ReturnHeader/Filer/USAddress/ZIPCd052632
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0470749138
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0PETERSEN & ASSOCIATES
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01410 GOLD COAST RD 400
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0PAPILLION
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0680465742
ReturnHeader/PreparerPersonGrp/PhoneNum04023332800
ReturnHeader/PreparerPersonGrp/PreparationDt02015-08-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0STEVEN O PETERSEN
ReturnHeader/ReturnTs02015-08-14T15:40:28-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-01-01
ReturnHeader/TaxPeriodEndDt02014-12-31
ReturnHeader/TaxYr02014

Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,986,921
Liabilities
$1,514,670
Net assets
$472,251
Revenue
$85,562
Expenses
$75,529
Net income
$10,033
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