Civic Intelligence

S E C U Credit Union

990 • Fiscal year 2018 • EIN 42-6077674

Jan 01, 2018 to Dec 31, 2018 • Filed on Apr 22, 2019

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

0.74x

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

2018 filings • 501(c)14 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

41st percentile

14.18x

Higher debt load relative to revenue than 41% of similar nonprofits.

2018 filings • 501(c)14 • $1M-$5M nonprofits • Source year 2018

Net Margin

89th percentile

23%

Higher net margin than 89% of similar nonprofits.

2018 filings • 501(c)14 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

23rd percentile

$0

Higher top officer pay than 23% of similar nonprofits.

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

2018 filings • 501(c)14 • $1M-$5M nonprofits • Source year 2018

Asset Growth

28th percentile

-6.1%

Faster asset growth than 28% of similar nonprofits.

2018 filings • 501(c)14 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

89th percentile

20%

Faster revenue growth than 89% of similar nonprofits.

2018 filings • 501(c)14 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets27th percentile

Assets

Down

$1,972,874

Down $128,644 (-6.1%) from 2017

Net Assets

Up

$506,771

Up $23,610 (+4.9%) from 2017

Liabilities

Down

$1,466,103

Down $152,254 (-9.4%) from 2017

Revenue And Expenses
Liabilities / Revenue41st percentileNet Margin89th percentile

Revenue

Up

$103,364

Up $17,301 (+20%) from 2017

Expenses

Up

$79,754

Up $12,016 (+18%) from 2017

Net Income

Up

$23,610

Up $5,285 (+29%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth28th 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

2018

Assets$1,972,874
Liabilities$1,466,103
Net Assets$506,771
Open 2018 Filing

Operations Trend

Revenue Growth89th 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

2018

Revenue$103,364
Expenses$79,754
Net Income$23,610
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Apr 22, 2019
Return Version
2018v3.1
Gross Receipts
$103,364
Mission and Program Overview

Mission

State chartered credit union

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$1,147,345$1,388,371▲ $241,026
Savings and Temporary Cash Investments$935,081$565,845▼ $369,236
Rtn Earn Endowment Incm Other Fnds$367,150$390,760▲ $23,610
Pd in Cap Srpls Land Bldg Eqp Fund$116,011$116,011→ $0
Accounts Receivable$1,208$1,286▲ $78
Cash and Non-Interest-Bearing Accounts$58$58→ $0
Prepaid Expenses and Deferred Charges$83$-119▼ $202
Total Assets$2,101,518$1,972,874▼ $128,644
Other Assets Total$17,743$17,433▼ $310
Liabilities
Other Liabilities$1,613,280$1,259,366▼ $353,914
Mortgage Notes Payable Secured by Investment Property-$200,000-
Accounts Payable and Accrued Expenses$5,077$6,737▲ $1,660
Total Liabilities$1,618,357$1,466,103▼ $152,254
Net Assets / Fund Balance
Total Net Assets Fund Balance$483,161$506,771▲ $23,610
Total Liabilities and Net Assets / Fund Balance$2,101,518$1,972,874▼ $128,644

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$9,341$9,341
Compensation and Service Providers
Top Officer Pay23rd percentile

Board Members and Trustees

NameTitle
Adam DavisBoard Member
Diana PenningtonBoard Member
Jim RainboltBoard Member
Randy DavisBoard Member
Raymond WhiteBoard Member
Rex MaloneBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$93,235
Investment Income
$10,129
Other Revenue
$0
Change in Net Assets
$23,610
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$51,222
Salaries, Compensation, and Employee Benefits$28,532
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$26,557
Office Expenses---$13,039
Other Expenses---$5,532
All Other Expenses---$2,304
Payroll Taxes---$1,975
Interest---$364
Total Functional Expenses$0$0$0$79,754
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$1,259,366
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 brother/sister randy davis adam davis board member board member uncle/nephew diane pennington adam davis board member board member aunt/nephew”

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 2018.”

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
Jill Buckert
Title
Manager
Phone
3195244560
Signed
2019-04-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jill Buckert
Formed
1963
Legal Domicile
Ia
Voting Board Members
8
Independent Board Members
8
Employees
1
Volunteers
7

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 Appendix305 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/ExplanationTxt1RANDY DAVIS DIANA PENNINGTON BOARD MEMBER BOARD MEMBER BROTHER/SISTER RANDY DAVIS ADAM DAVIS BOARD MEMBER BOARD MEMBER UNCLE/NEPHEW DIANE PENNINGTON ADAM DAVIS BOARD MEMBER BOARD MEMBER AUNT/NEPHEW
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 WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE 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 2018.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE 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 6, PART VI, LINE 2
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 19
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ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JILL BUCKERT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0MANAGER
ReturnHeader/BusinessOfficerGrp/PhoneNum03195244560
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-04-22
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0S E C U CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0SECU
ReturnHeader/Filer/EIN0426077674
ReturnHeader/Filer/PhoneNum03195244560
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ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm013:37:50
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ReturnHeader/PreparerPersonGrp/PreparerPersonNm0STEVEN O PETERSEN
ReturnHeader/ReturnTs02019-04-24T13:37:50-05:00
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ReturnHeader/TaxPeriodBeginDt02018-01-01
ReturnHeader/TaxPeriodEndDt02018-12-31
ReturnHeader/TaxYr02018

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,972,874
Liabilities
$1,466,103
Net assets
$506,771
Revenue
$103,364
Expenses
$79,754
Net income
$23,610
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
2018Detailed filing. Detailed filing data is available for this year.$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