Civic Intelligence

Foundation Credit Union

990 • Fiscal year 2017 • EIN 44-0444355

Jan 01, 2017 to Dec 31, 2017 • Filed on Mar 27, 2018

Organization ProfileWWW.FOUNDATIONCREDITUNION.COM

View Organization Page

1726 W Elfindale StreetSpringfield, MO 65807-1289

(417) 895-2770

Siviq Scores

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

Liabilities / Assets

28th percentile

0.86x

Higher debt load relative to assets than 28% of similar nonprofits.

2017 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2017

Liabilities / Revenue

97th percentile

32.80x

Higher debt load relative to revenue than 97% of similar nonprofits.

2017 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2017

Net Margin

62nd percentile

13%

Higher net margin than 62% of similar nonprofits.

2017 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2017

Top Officer Pay

52nd percentile

$140,369

Higher top officer pay than 52% of similar nonprofits.

Top officer pay equals 8.3% of source-year revenue.

2017 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2017

Asset Growth

26th percentile

0.8%

Faster asset growth than 26% of similar nonprofits.

2017 filings • 501(c)14 • $50M-$100M nonprofits • Annualized from 2016 to 2017

Revenue Growth

88th percentile

15%

Faster revenue growth than 88% of similar nonprofits.

2017 filings • 501(c)14 • $50M-$100M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets28th percentile

Assets

Up

$64,370,576

Up $516,824 (+0.8%) from 2016

Net Assets

Up

$8,953,902

Up $213,647 (+2.4%) from 2016

Liabilities

Up

$55,416,674

Up $303,177 (+0.6%) from 2016

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin62nd percentile

Revenue

Up

$1,689,338

Up $218,337 (+15%) from 2016

Expenses

Up

$1,475,691

Up $153,510 (+12%) from 2016

Net Income

Up

$213,647

Up $64,827 (+44%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth26th percentile

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

$80M$60M$40M$20M$0Assets 2011: $68,677,671Liabilities 2011: $61,395,453Net Assets 2011: $7,282,2182011Assets 2012: $65,352,617Liabilities 2012: $57,567,840Net Assets 2012: $7,784,7772012Assets 2013: $64,885,050Liabilities 2013: $56,843,208Net Assets 2013: $8,041,8422013Assets 2014: $62,951,028Liabilities 2014: $54,647,335Net Assets 2014: $8,303,6932014Assets 2015: $63,689,871Liabilities 2015: $55,098,436Net Assets 2015: $8,591,4352015Assets 2016: $63,853,752Liabilities 2016: $55,113,497Net Assets 2016: $8,740,2552016Assets 2017: $64,370,576Liabilities 2017: $55,416,674Net Assets 2017: $8,953,9022017Assets 2018: $58,342,986Liabilities 2018: $49,329,496Net Assets 2018: $9,013,4902018Assets 2019: $64,428,190Liabilities 2019: $55,286,670Net Assets 2019: $9,141,5202019Assets 2020: $66,261,166Liabilities 2020: $56,923,262Net Assets 2020: $9,337,9042020Assets 2021: $74,462,485Liabilities 2021: $64,740,657Net Assets 2021: $9,721,8282021Assets 2022: $75,745,911Liabilities 2022: $65,591,137Net Assets 2022: $10,154,7742022Assets 2023: $71,528,022Liabilities 2023: $61,297,289Net Assets 2023: $10,230,7332023Assets 2024: $68,300,825Liabilities 2024: $57,877,361Net Assets 2024: $10,423,4642024

Highlighted filing

2017

Assets$64,370,576
Liabilities$55,416,674
Net Assets$8,953,902
Open 2017 Filing

Operations Trend

Revenue Growth88th percentile

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

$4.0M$3.0M$2.0M$1.0M$0Expenses 2011: $1,172,3312011Expenses 2012: $969,7042012Revenue 2013: $1,356,560Expenses 2013: $1,099,495Net Income 2013: $257,0652013Revenue 2014: $1,288,769Expenses 2014: $1,026,918Net Income 2014: $261,8512014Revenue 2015: $1,296,808Expenses 2015: $1,009,066Net Income 2015: $287,7422015Revenue 2016: $1,471,001Expenses 2016: $1,322,181Net Income 2016: $148,8202016Revenue 2017: $1,689,338Expenses 2017: $1,475,691Net Income 2017: $213,6472017Revenue 2018: $2,005,667Expenses 2018: $1,946,079Net Income 2018: $59,5882018Revenue 2019: $2,059,511Expenses 2019: $1,931,481Net Income 2019: $128,0302019Revenue 2020: $2,063,818Expenses 2020: $1,867,434Net Income 2020: $196,3842020Revenue 2021: $2,280,758Expenses 2021: $1,896,834Net Income 2021: $383,9242021Revenue 2022: $2,698,734Expenses 2022: $2,265,788Net Income 2022: $432,9462022Revenue 2023: $2,883,201Expenses 2023: $2,759,903Net Income 2023: $123,2982023Revenue 2024: $3,405,120Expenses 2024: $3,212,389Net Income 2024: $192,7312024

Highlighted filing

2017

Revenue$1,689,338
Expenses$1,475,691
Net Income$213,647
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Mar 27, 2018
Return Version
2017v2.2
Gross Receipts
$1,847,897
Mission and Program Overview

Mission

We provide savings accounts and loans to credit union members. These members consist of individuals and their families who work or live in greene, christian, polk, or webster counties.

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
Other Notes and Loans Receivable, Net$26,984,484$35,298,218▲ $8,313,734
Savings and Temporary Cash Investments$3,239,024$19,473,861▲ $16,234,837
Rtn Earn Endowment Incm Other Fnds$8,740,255$8,953,902▲ $213,647
Cash and Non-Interest-Bearing Accounts$1,381,245$3,568,768▲ $2,187,523
Investments Other Securities$26,170,500$3,000,000▼ $23,170,500
Investments in Publicly Traded Securities$3,000,000--
Land, Buildings, and Equipment, Net$2,449,196$2,369,244▼ $79,952
Investments Program Related$523,079--
Prepaid Expenses and Deferred Charges$30,515$56,190▲ $25,675
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$63,853,752$64,370,576▲ $516,824
Other Assets Total$75,709$604,295▲ $528,586
Liabilities
Other Liabilities$54,958,773$55,285,656▲ $326,883
Accounts Payable and Accrued Expenses$154,724$131,018▼ $23,706
Total Liabilities$55,113,497$55,416,674▲ $303,177
Net Assets / Fund Balance
Total Net Assets Fund Balance$8,740,255$8,953,902▲ $213,647
Total Liabilities and Net Assets / Fund Balance$63,853,752$64,370,576▲ $516,824

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,804,863$215,476$2,020,339
Land$401,863-$401,863
Equipment$162,518$103,970$266,488
Compensation and Service Providers
Top Officer Pay52nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Michele SechlerPresident/CEOFT$129,231$11,138$140,369
Sammie HermannVice President/CFOFT$117,600$3,322$120,922

Board Members and Trustees

NameTitle
Forrest OwensChairman
Jerome RansomVice Chairman
Brent ForbesBoard Member
Debbie HickeyBoard Member
Matthew HudsonSecretary/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,366,671
Investment Income
$322,667
Other Revenue
$0
Change in Net Assets
$213,647
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$881,900
Salaries, Compensation, and Employee Benefits$593,791
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees---$261,291
Other Salaries and Wages---$241,358
Office Expenses---$137,122
Depreciation Depletion---$98,828
Advertising---$54,818
Information Technology---$53,880
Occupancy---$52,237
Payroll Taxes---$44,389
Insurance---$41,969
Other Employee Benefits---$41,317
Fees for Services Accounting---$31,275
Other Expenses---$19,040
Fees for Services Legal---$9,173
All Other Expenses---$7,622
Pension Plan Contributions---$5,436
Conferences and Meetings---$670
Travel---$287
Total Functional Expenses$0$0$0$1,475,691
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 and Deposits$55,285,656
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
Yes
Other officer compensation reviewed
Yes
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, 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 A, line 8B

“All meetings of the board of directors are documented as required. There are no official minutes for the other committees.”

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

“The president reviews the form 990 and presents it to the board of directors for approval before filing.”

Form 990, Part VI, Section B, line 15

“The president and board members complete performance evaluation forms, reveiw credit union results for the year, products/services added and overall growth in addition to using cuna salary guidelines when setting compensation. 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
Foundation Credit Union
EIN
44-0444355
Phone
4178952770
Address
1726 W ELFINDALE STREET, SPRINGFIELD, MO 65807-1289

Signing Officer

Name
Michele Sechler
Title
President/CEO
Phone
4178952770
Signed
2018-03-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michele Sechler
Formed
1933
Legal Domicile
Mo
Voting Board Members
5
Independent Board Members
5
Employees
25
Volunteers
8

Preparer

Firm
J Tenbrink & Associates
Address
11272 S RIDGEVIEW RD, OLATHE, KS 66061
Preparer
Jerry Tenbrink
Phone
9138946214
Raw XML Appendix345 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.

Path#Value
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IRS990/ProgSrvcAccomActy2Grp/Desc0PROVIDES A SOURCE OF CREDIT TO MEMBERS AT A FAIR AND REASONABLE RATE OF INTEREST. AS OF DECEMBER 31,2017, LOANS OUTSTANDING TOTALED $35,339,516.
IRS990/ProgSrvcAccomActy3Grp/Desc0PAID DIVIDENDS AND INTEREST ON MEMBER DEPOSITS TOTALING $318,119 FOR THE YEAR.
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IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt01804863
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0215476
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02020339
IRS990ScheduleD/EquipmentGrp/BookValueAmt0162518
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0103970
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0266488
IRS990ScheduleD/LandGrp/BookValueAmt0401863
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0401863
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt055285656
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MEMBER SHARES AND DEPOSITS
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02369244
IRS990ScheduleD/TotalLiabilityAmt055285656
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE CREDIT UNION IS MUTUALLY OWNED BY MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD OF DIRECTORS ARE ELECTED BY THE CREDIT UNION MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2CERTAIN SIGNIFICANT CHANGES ARE SUBJECT TO APPROVAL BY THE CREDIT UNION MEMBERS; HOWEVER, NO SUCH CHANGES WERE MADE DURING THE YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL MEETINGS OF THE BOARD OF DIRECTORS ARE DOCUMENTED AS REQUIRED. THERE ARE NO OFFICIAL MINUTES FOR THE OTHER COMMITTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE PRESIDENT REVIEWS THE FORM 990 AND PRESENTS IT TO THE BOARD OF DIRECTORS FOR APPROVAL BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE PRESIDENT AND BOARD MEMBERS COMPLETE PERFORMANCE EVALUATION FORMS, REVEIW CREDIT UNION RESULTS FOR THE YEAR, PRODUCTS/SERVICES ADDED AND OVERALL GROWTH IN ADDITION TO USING CUNA SALARY GUIDELINES WHEN SETTING COMPENSATION. 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/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 A, line 7b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section A, line 8b
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
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt063853752
IRS990/TotalAssetsEOYAmt064370576
IRS990/TotalAssetsGrp/BOYAmt063853752
IRS990/TotalAssetsGrp/EOYAmt064370576
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt025
IRS990/TotalFunctionalExpensesGrp/TotalAmt01475691
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt055113497
IRS990/TotalLiabilitiesEOYAmt055416674
IRS990/TotalLiabilitiesGrp/BOYAmt055113497
IRS990/TotalLiabilitiesGrp/EOYAmt055416674
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt08740255
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt08953902
IRS990/TotalOtherCompensationAmt014460
IRS990/TotalProgramServiceRevenueAmt01366671
IRS990/TotalReportableCompFromOrgAmt0246831
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01689338
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01689338
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt08
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt063853752
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt064370576
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/TotalAmt0287
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01726 W ELFINDALE STREET
IRS990/USAddress/CityNm0SPRINGFIELD
IRS990/USAddress/StateAbbreviationCd0MO
IRS990/USAddress/ZIPCd0658071289
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.FOUNDATIONCREDITUNION.COM
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0MICHELE SECHLER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT/CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum04178952770
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-03-27
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FOUNDATION CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0FOUN
ReturnHeader/Filer/EIN0440444355
ReturnHeader/Filer/PhoneNum04178952770
ReturnHeader/Filer/USAddress/AddressLine1Txt01726 W ELFINDALE STREET
ReturnHeader/Filer/USAddress/CityNm0SPRINGFIELD
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MO
ReturnHeader/Filer/USAddress/ZIPCd0658071289
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId08C7C43951168CF45788263B15885B9037C681A73
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId08C7C43951168CF45788263B15885B9037C681A73
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt097.87.82.114
ReturnHeader/FilingSecurityInformation/IPDt02018-03-27
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm013:51:12
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0431592217
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0J TENBRINK & ASSOCIATES
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt011272 S RIDGEVIEW RD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0OLATHE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0KS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd066061
ReturnHeader/PreparerPersonGrp/PhoneNum09138946214
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JERRY TENBRINK
ReturnHeader/ReturnTs02018-03-27T13:51:23-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$64,370,576
Liabilities
$55,416,674
Net assets
$8,953,902
Revenue
$1,689,338
Expenses
$1,475,691
Net income
$213,647
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$68.3$57.9$10.4$3.41$3.21$0.19
2023Detailed filing. Detailed filing data is available for this year.$71.5$61.3$10.2$2.88$2.76$0.12
2022Detailed filing. Detailed filing data is available for this year.$75.7$65.6$10.2$2.70$2.27$0.43
2021Detailed filing. Detailed filing data is available for this year.$74.5$64.7$9.72$2.28$1.90$0.38
2020Detailed filing. Detailed filing data is available for this year.$66.3$56.9$9.34$2.06$1.87$0.20
2019Detailed filing. Detailed filing data is available for this year.$64.4$55.3$9.14$2.06$1.93$0.13
2018Detailed filing. Detailed filing data is available for this year.$58.3$49.3$9.01$2.01$1.95$0.06
2017Detailed filing. Detailed filing data is available for this year.$64.4$55.4$8.95$1.69$1.48$0.21
2016Detailed filing. Detailed filing data is available for this year.$63.9$55.1$8.74$1.47$1.32$0.15
2015Detailed filing. Detailed filing data is available for this year.$63.7$55.1$8.59$1.30$1.01$0.29
2014Detailed filing. Detailed filing data is available for this year.$63.0$54.6$8.30$1.29$1.03$0.26
2013Detailed filing. Detailed filing data is available for this year.$64.9$56.8$8.04$1.36$1.10$0.26
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$65.4$57.6$7.78$0.97
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$68.7$61.4$7.28$1.17