Civic Intelligence

Midwest Credit Union

990 • Fiscal year 2016 • EIN 43-6034138

Jan 01, 2016 to Dec 31, 2016 • Filed on May 10, 2017

Organization ProfileWWW.MIDWESTCU.ORG

View Organization Page

PO Box 839Florissant, MO 63032-0839

(314) 837-2500

Siviq Scores

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

Liabilities / Assets

30th percentile

0.83x

Higher debt load relative to assets than 30% of similar nonprofits.

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

Liabilities / Revenue

20th percentile

13.75x

Higher debt load relative to revenue than 20% of similar nonprofits.

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

Net Margin

8th percentile

-11%

Higher net margin than 8% of similar nonprofits.

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

Top Officer Pay

86th percentile

$103,962

Higher top officer pay than 86% of similar nonprofits.

Top officer pay equals 16.8% of source-year revenue.

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

Asset Growth

2nd percentile

-9.2%

Faster asset growth than 2% of similar nonprofits.

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

Revenue Growth

10th percentile

-6.0%

Faster revenue growth than 10% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets30th percentile

Assets

Down

$10,228,422

Down $1,033,067 (-9.2%) from 2015

Net Assets

Down

$1,721,311

Down $109,911 (-6.0%) from 2015

Liabilities

Down

$8,507,111

Down $923,156 (-9.8%) from 2015

Revenue And Expenses
Liabilities / Revenue20th percentileNet Margin8th percentile

Revenue

Down

$618,870

Down $39,702 (-6.0%) from 2015

Expenses

Up

$687,587

Up $10,395 (+1.5%) from 2015

Net Income

Down

-$68,717

Down $50,097 (-269%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth2nd percentile

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

$15M$10M$5.0M$0Assets 2010: $11,698,628Liabilities 2010: $9,400,665Net Assets 2010: $2,297,9632010Assets 2011: $11,343,120Liabilities 2011: $9,112,856Net Assets 2011: $2,230,2642011Assets 2012: $11,020,522Liabilities 2012: $8,962,157Net Assets 2012: $2,058,3652012Assets 2013: $11,590,350Liabilities 2013: $9,558,979Net Assets 2013: $2,031,3712013Assets 2014: $11,109,305Liabilities 2014: $9,267,828Net Assets 2014: $1,841,4772014Assets 2015: $11,261,489Liabilities 2015: $9,430,267Net Assets 2015: $1,831,2222015Assets 2016: $10,228,422Liabilities 2016: $8,507,111Net Assets 2016: $1,721,3112016Assets 2017: $10,221,709Liabilities 2017: $8,588,061Net Assets 2017: $1,633,6482017

Highlighted filing

2016

Assets$10,228,422
Liabilities$8,507,111
Net Assets$1,721,311
Open 2016 Filing

Operations Trend

Revenue Growth10th percentile

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

$1.0M$500K$0-$500KExpenses 2010: $784,6682010Expenses 2011: $773,8062011Expenses 2012: $746,8592012Revenue 2013: $587,650Expenses 2013: $708,011Net Income 2013: -$120,3612013Revenue 2014: $637,487Expenses 2014: $747,192Net Income 2014: -$109,7052014Revenue 2015: $658,572Expenses 2015: $677,192Net Income 2015: -$18,6202015Revenue 2016: $618,870Expenses 2016: $687,587Net Income 2016: -$68,7172016Revenue 2017: $576,690Expenses 2017: $677,526Net Income 2017: -$100,8362017

Highlighted filing

2016

Revenue$618,870
Expenses$687,587
Net Income-$68,717
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
May 10, 2017
Return Version
2016v3.0
Gross Receipts
$618,870
Mission and Program Overview

Mission

To provide high quality financial services for our members/owners, enhancing their financial well-being while maintaining the financial strength of the credit union.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$5,514,648$5,443,963▼ $70,685
Other Notes and Loans Receivable, Net$5,268,072$4,453,779▼ $814,293
Rtn Earn Endowment Incm Other Fnds$1,831,222$1,721,311▼ $109,911
Cash and Non-Interest-Bearing Accounts$275,341$136,739▼ $138,602
Land, Buildings, and Equipment, Net$18,604$15,387▼ $3,217
Prepaid Expenses and Deferred Charges$18,284$15,323▼ $2,961
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$11,261,489$10,228,422▼ $1,033,067
Other Assets Total$166,540$163,231▼ $3,309
Liabilities
Other Liabilities$9,337,564$8,366,613▼ $970,951
Accounts Payable and Accrued Expenses$92,703$140,498▲ $47,795
Total Liabilities$9,430,267$8,507,111▼ $923,156
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,831,222$1,721,311▼ $109,911
Total Liabilities and Net Assets / Fund Balance$11,261,489$10,228,422▼ $1,033,067

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$14,273$194,928$209,201
Leasehold Improvements$1,114$52,833$53,947
Compensation and Service Providers
Top Officer Pay86th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Sookie CunninghamPresidentFT$78,477$25,485$103,962

Board Members and Trustees

NameTitle
Melvin Bardon JrChairman
Mike BushmanVice Chairman
Joyce HarrellBoard Member
Nancy BardonBoard Member
Robert HarmonBoard Member
Carolyn SimshauserSecretary
Timothy SouersTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$562,263
Investment Income
$49,999
Other Revenue
$6,608
Change in Net Assets
$-68,717
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$435,184
Salaries, Compensation, and Employee Benefits$252,403
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other---$119,397
Other Salaries and Wages---$110,023
Current Officers, Directors, Trustees, and Key Employees---$103,962
Office Expenses---$65,792
Information Technology---$62,911
Occupancy---$48,525
Pension Plan Contributions---$16,565
Advertising---$16,000
Payroll Taxes---$15,263
Insurance---$10,547
Depreciation Depletion---$9,892
Fees for Services Accounting---$9,467
Other Employee Benefits---$6,590
Other Expenses---$6,492
All Other Expenses---$5,614
Conferences and Meetings---$1,640
Total Functional Expenses$0$0$0$687,587
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 Share Deposits$8,366,613
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Part VI, Section A, Line 2

“Melvin bardon jr. (chairman) and nancy bardon (board member) are related by marriage.”

Form 990, Part VI, Section A, Line 6

“The credit union is mutually owned by members.”

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

“The board of directors are elected by the credit union members.”

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

“Certain significant changes are subject to approval by the credit union members; however no such changes were made during the year.”

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

“The president reviews the form 990 before filing.”

Form 990, Part VI, Section B, Line 15

“The board of directors reviews and approves the president's compensation. All other employees' compensation is determined by the president and is included in the budget presented to the board for approval. The board's deliberations and decisions are documented in the minutes.”

Form 990, Part VI, Section C, Line 19

“Financial statements are presented at the annual meeting and are available upon request. In addition, the ncua website posts financial information as part of the quarterly call reports. Other documents, policies, and procedures are available upon request.”

Filing and Contact Details

Filer

Filer Name
Midwest Credit Union
EIN
43-6034138
Phone
3148372500
Address
PO BOX 839, FLORISSANT, MO 63032-0839

Signing Officer

Name
Sookie Cunningham
Title
President
Phone
3148372500
Signed
2017-05-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sookie Cunningham
Formed
1941
Legal Domicile
Mo
Voting Board Members
7
Independent Board Members
7
Employees
8
Volunteers
9

Preparer

Firm
Stephen Lang & Associates LLC
Address
14323 S OUTER 40 STE N205, CHESTERFIELD, MO 63017
Phone
3142058601
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Debit, visa, atm card program services 88,445. Other professional & outside services 30,952.”

FORM 990, PART XI, LINE 9:

“Change in accumulated other comprehensive income (fas 158) -41,194.”

Raw XML Appendix354 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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IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt3TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt4BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt5BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt7PRESIDENT
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IRS990/ProgSrvcAccomActy2Grp/Desc0PROVIDES A SOURCE OF CREDIT TO MEMBERS AT A FAIR AND REASONABLE RATE OF INTEREST. AS OF DECEMBER 31, 2016, THERE WERE 795 LOANS OUTSTANDING TOTALING $4,520,149.
IRS990/ProgSrvcAccomActy3Grp/Desc0PAID DIVIDENDS ON MEMBER DEPOSITS TOTALING $6,492 FOR THE YEAR.
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IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MELVIN BARDON JR. (CHAIRMAN) AND NANCY BARDON (BOARD MEMBER) ARE RELATED BY MARRIAGE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CREDIT UNION IS MUTUALLY OWNED BY MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD OF DIRECTORS ARE ELECTED BY THE CREDIT UNION MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CERTAIN SIGNIFICANT CHANGES ARE SUBJECT TO APPROVAL BY THE CREDIT UNION MEMBERS; HOWEVER NO SUCH CHANGES WERE MADE DURING THE YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE PRESIDENT REVIEWS THE FORM 990 BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE BOARD OF DIRECTORS REVIEWS AND APPROVES THE PRESIDENT'S COMPENSATION. ALL OTHER EMPLOYEES' COMPENSATION IS DETERMINED BY THE PRESIDENT AND IS INCLUDED IN THE BUDGET PRESENTED TO THE BOARD FOR APPROVAL. THE BOARD'S DELIBERATIONS AND DECISIONS ARE DOCUMENTED IN THE MINUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6FINANCIAL STATEMENTS ARE PRESENTED AT THE ANNUAL MEETING AND ARE AVAILABLE UPON REQUEST. IN ADDITION, THE NCUA WEBSITE POSTS FINANCIAL INFORMATION AS PART OF THE QUARTERLY CALL REPORTS. OTHER DOCUMENTS, POLICIES, AND PROCEDURES ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7DEBIT, VISA, ATM CARD PROGRAM SERVICES 88,445. OTHER PROFESSIONAL & OUTSIDE SERVICES 30,952.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8CHANGE IN ACCUMULATED OTHER COMPREHENSIVE INCOME (FAS 158) -41,194.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PART XI, LINE 9:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt011261489
IRS990/TotalAssetsEOYAmt010228422
IRS990/TotalAssetsGrp/BOYAmt011261489
IRS990/TotalAssetsGrp/EOYAmt010228422
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt08
IRS990/TotalFunctionalExpensesGrp/TotalAmt0687587
IRS990/TotalGrossUBIAmt09426
IRS990/TotalLiabilitiesBOYAmt09430267
IRS990/TotalLiabilitiesEOYAmt08507111
IRS990/TotalLiabilitiesGrp/BOYAmt09430267
IRS990/TotalLiabilitiesGrp/EOYAmt08507111
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01831222
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01721311
IRS990/TotalOtherCompensationAmt025485
IRS990/TotalProgramServiceRevenueAmt0562263
IRS990/TotalReportableCompFromOrgAmt078477
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0609444
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0618870
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt09426
IRS990/TotalVolunteersCnt09
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt011261489
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt010228422
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd01
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 839
IRS990/USAddress/CityNm0FLORISSANT
IRS990/USAddress/StateAbbreviationCd0MO
IRS990/USAddress/ZIPCd0630320839
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0WWW.MIDWESTCU.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0SOOKIE CUNNINGHAM
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum03148372500
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-05-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MIDWEST CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0MIDW
ReturnHeader/Filer/EIN0436034138
ReturnHeader/Filer/PhoneNum03148372500
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 839
ReturnHeader/Filer/USAddress/CityNm0FLORISSANT
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MO
ReturnHeader/Filer/USAddress/ZIPCd0630320839
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0F833D4313777CB96842A8180D2DBFCFD1CED2197
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0F833D4313777CB96842A8180D2DBFCFD1CED2197
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt097.87.82.114
ReturnHeader/FilingSecurityInformation/IPDt02017-05-10
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm013:21:37
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0431887384
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0STEPHEN LANG & ASSOCIATES LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt014323 S OUTER 40 STE N205
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CHESTERFIELD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd063017
ReturnHeader/PreparerPersonGrp/PhoneNum03142058601
ReturnHeader/ReturnTs02017-05-10T13:22:14-05:00
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
$10,228,422
Liabilities
$8,507,111
Net assets
$1,721,311
Revenue
$618,870
Expenses
$687,587
Net income
-$68,717
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2017Detailed filing. Detailed filing data is available for this year.$10.2$8.59$1.63$0.58$0.68$0.10
2016Detailed filing. Detailed filing data is available for this year.$10.2$8.51$1.72$0.62$0.69$0.07
2015Detailed filing. Detailed filing data is available for this year.$11.3$9.43$1.83$0.66$0.68$0.02
2014Detailed filing. Detailed filing data is available for this year.$11.1$9.27$1.84$0.64$0.75$0.11
2013Detailed filing. Detailed filing data is available for this year.$11.6$9.56$2.03$0.59$0.71$0.12
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.0$8.96$2.06$0.75
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.3$9.11$2.23$0.77
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.7$9.40$2.30$0.78