Civic Intelligence

Freedom Community Credit Union

990 • Fiscal year 2014 • EIN 45-0273190

Jan 01, 2014 to Dec 31, 2014 • Filed on May 12, 2015

Organization ProfileN/A

View Organization Page

2940 N University DriveFargo, ND 58102

(701) 232-0828

Siviq Scores

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

Liabilities / Assets

91st percentile

0.92x

Higher debt load relative to assets than 91% of similar nonprofits.

2014 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2014

Liabilities / Revenue

81st percentile

27.79x

Higher debt load relative to revenue than 81% of similar nonprofits.

2014 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2014

Net Margin

2nd percentile

-31%

Higher net margin than 2% of similar nonprofits.

2014 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2014

Top Officer Pay

84th percentile

$100,557

Higher top officer pay than 84% of similar nonprofits.

Top officer pay equals 12.2% of source-year revenue.

2014 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2014

Asset Growth

44th percentile

1.2%

Faster asset growth than 44% of similar nonprofits.

2014 filings • 501(c)14 • $10M-$25M nonprofits • Annualized from 2013 to 2014

Revenue Growth

61st percentile

1.5%

Faster revenue growth than 61% of similar nonprofits.

2014 filings • 501(c)14 • $10M-$25M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets91st percentile

Assets

Up

$24,952,689

Up $305,162 (+1.2%) from 2013

Net Assets

Down

$2,008,049

Down $259,419 (-11%) from 2013

Liabilities

Up

$22,944,640

Up $564,581 (+2.5%) from 2013

Revenue And Expenses
Liabilities / Revenue81st percentileNet Margin2nd percentile

Revenue

Up

$825,562

Up $12,171 (+1.5%) from 2013

Expenses

Up

$1,084,981

Up $250,277 (+30%) from 2013

Net Income

Down

-$259,419

Down $238,106 (-1117%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth44th percentile

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

$40M$30M$20M$10M$0Assets 2011: $21,277,133Liabilities 2011: $19,177,405Net Assets 2011: $2,099,7282011Assets 2012: $23,262,364Liabilities 2012: $20,973,583Net Assets 2012: $2,288,7812012Assets 2013: $24,647,527Liabilities 2013: $22,380,059Net Assets 2013: $2,267,4682013Assets 2014: $24,952,689Liabilities 2014: $22,944,640Net Assets 2014: $2,008,0492014Assets 2015: $25,508,325Liabilities 2015: $23,485,269Net Assets 2015: $2,023,0562015Assets 2016: $27,118,577Liabilities 2016: $25,006,286Net Assets 2016: $2,112,2912016Assets 2017: $27,674,188Liabilities 2017: $25,530,524Net Assets 2017: $2,143,6642017Assets 2018: $27,043,043Liabilities 2018: $24,804,553Net Assets 2018: $2,238,4902018Assets 2019: $26,936,119Liabilities 2019: $24,518,194Net Assets 2019: $2,417,9252019Assets 2020: $30,101,322Liabilities 2020: $27,569,242Net Assets 2020: $2,532,0802020Assets 2021: $31,829,663Liabilities 2021: $29,223,619Net Assets 2021: $2,606,0442021Assets 2022: $31,442,251Liabilities 2022: $28,868,782Net Assets 2022: $2,573,4692022Assets 2023: $0Liabilities 2023: $0Net Assets 2023: $02023

Highlighted filing

2014

Assets$24,952,689
Liabilities$22,944,640
Net Assets$2,008,049
Open 2014 Filing

Operations Trend

Revenue Growth61st percentile

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

$1.5M$1.0M$500K$0-$500KExpenses 2011: $731,5322011Revenue 2012: $884,434Expenses 2012: $695,381Net Income 2012: $189,0532012Revenue 2013: $813,391Expenses 2013: $834,704Net Income 2013: -$21,3132013Revenue 2014: $825,562Expenses 2014: $1,084,981Net Income 2014: -$259,4192014Revenue 2015: $824,688Expenses 2015: $809,681Net Income 2015: $15,0072015Revenue 2016: $862,823Expenses 2016: $773,588Net Income 2016: $89,2352016Revenue 2017: $948,905Expenses 2017: $917,532Net Income 2017: $31,3732017Revenue 2018: $1,143,110Expenses 2018: $1,048,286Net Income 2018: $94,8242018Revenue 2019: $981,566Expenses 2019: $802,131Net Income 2019: $179,4352019Revenue 2020: $920,756Expenses 2020: $806,601Net Income 2020: $114,1552020Revenue 2021: $809,590Expenses 2021: $735,626Net Income 2021: $73,9642021Revenue 2022: $761,883Expenses 2022: $794,458Net Income 2022: -$32,5752022Revenue 2023: $855,647Expenses 2023: $1,104,328Net Income 2023: -$248,6812023

Highlighted filing

2014

Revenue$825,562
Expenses$1,084,981
Net Income-$259,419
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
May 12, 2015
Return Version
2014v5.0
Gross Receipts
$825,562
Mission and Program Overview

Mission

Credit union services to approximately 2900 members

CREDIT UNION SERVICES

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$14,246,700$13,691,703▼ $554,997
Savings and Temporary Cash Investments$8,646,090$9,386,215▲ $740,125
Rtn Earn Endowment Incm Other Fnds$2,267,468$2,008,049▼ $259,419
Land, Buildings, and Equipment, Net$1,402,266$1,493,154▲ $90,888
Cash and Non-Interest-Bearing Accounts$123,812$140,316▲ $16,504
Prepaid Expenses and Deferred Charges$13,903$14,583▲ $680
Intangible Assets$5,439$4,760▼ $679
Total Assets$24,647,527$24,952,689▲ $305,162
Other Assets Total$209,317$221,958▲ $12,641
Liabilities
Other Liabilities$22,369,986$22,933,044▲ $563,058
Accounts Payable and Accrued Expenses$10,073$11,596▲ $1,523
Total Liabilities$22,380,059$22,944,640▲ $564,581
Net Assets / Fund Balance
Total Net Assets Fund Balance$2,267,468$2,008,049▼ $259,419
Total Liabilities and Net Assets / Fund Balance$24,647,527$24,952,689▲ $305,162

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,009,313$157,685-
Land$373,958--
Equipment$109,883$211,273-
Compensation and Service Providers
Top Officer Pay84th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Mary HagenCEOFT$85,738$14,819$100,557

Board Members and Trustees

NameTitle
Brent EhrichsChairman
Larry GillelanDirector
Norm NylandDirector
Ralph JoseDirector
Robbi FossDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$758,929
Investment Income
$66,633
Other Revenue
$0
Change in Net Assets
$-259,419
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$629,360
Salaries, Compensation, and Employee Benefits$455,621
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$247,258--$247,258
Other Employee Benefits$107,811--$107,811
Current Officers, Directors, Trustees, and Key Employees$100,552--$100,552
Office Expenses$88,710--$88,710
Occupancy$60,373--$60,373
Interest$42,430--$42,430
All Other Expenses$24,449--$24,449
Other Expenses$11,653--$11,653
Conferences and Meetings$10,565--$10,565
Insurance$5,279--$5,279
Total Functional Expenses$1,084,981$0$0$1,084,981
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Member Shares$22,743,520
Deferred Compensation$189,524
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Part VI Line 6

“Members of the credit union are the owners of the credit union”

Part VI Line 7A

“Members of the credit union elect the board of directors”

Part VI Line 11

“Tax return is reviewed by the president before filing”

Part VI Line 15

“Information is obtained to determine peer compensation”

Part VI Line 19

“Inormation is available upon request”

Part VI Line 12C

“Directors reveiw annually”

Filing and Contact Details

Filer

Filer Name
Freedom Community Credit Unio
EIN
45-0273190
Phone
7012320828
Address
2940 N UNIVERSITY DRIVE, FARGO, ND 58102

Signing Officer

Name
Mary Hagen
Title
Chief Executive Officer
Signed
2015-05-12
Discuss with paid preparer
No

Organization Details

Principal Officer
Mary Hagen
Voting Board Members
5
Independent Board Members
5
Employees
8

Preparer

Firm
Ben Yasgar CPA Ltd
Address
808 3RD AVE S SUITE 301, FARGO, ND 58103-1865
Preparer
Ben Yasgar CPA
Phone
7012324414
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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/ExplanationTxt0MEMBERS OF THE CREDIT UNION ARE THE OWNERS OF THE CREDIT UNION
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2TAX RETURN IS REVIEWED BY THE PRESIDENT BEFORE FILING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3INFORMATION IS OBTAINED TO DETERMINE PEER COMPENSATION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4INORMATION IS AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5DIRECTORS REVEIW ANNUALLY
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01084981
IRS990/TotalFunctionalExpensesGrp/TotalAmt01084981
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt022380059
IRS990/TotalLiabilitiesEOYAmt022944640
IRS990/TotalLiabilitiesGrp/BOYAmt022380059
IRS990/TotalLiabilitiesGrp/EOYAmt022944640
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02267468
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02008049
IRS990/TotalOtherCompensationAmt014819
IRS990/TotalProgramServiceRevenueAmt0758929
IRS990/TotalReportableCompFromOrgAmt085738
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0825562
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0825562
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt024647527
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt024952689
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02940 N UNIVERSITY DRIVE
IRS990/USAddress/CityNm0FARGO
IRS990/USAddress/StateAbbreviationCd0ND
IRS990/USAddress/ZIPCd058102
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-02-25 16:41:14Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0false
ReturnHeader/BusinessOfficerGrp/PersonNm0MARY HAGEN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHIEF EXECUTIVE OFFICER
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-05-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FREEDOM COMMUNITY CREDIT UNIO
ReturnHeader/Filer/BusinessNameControlTxt0FREE
ReturnHeader/Filer/EIN0450273190
ReturnHeader/Filer/PhoneNum07012320828
ReturnHeader/Filer/USAddress/AddressLine1Txt02940 N UNIVERSITY DRIVE
ReturnHeader/Filer/USAddress/CityNm0FARGO
ReturnHeader/Filer/USAddress/StateAbbreviationCd0ND
ReturnHeader/Filer/USAddress/ZIPCd058102
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0450470900
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BEN YASGAR CPA LTD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0808 3RD AVE S SUITE 301
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0FARGO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0ND
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0581031865
ReturnHeader/PreparerPersonGrp/PhoneNum07012324414
ReturnHeader/PreparerPersonGrp/PreparationDt02015-07-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BEN YASGAR CPA
ReturnHeader/ReturnTs02015-08-03T12:13:35-05:00
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
$24,952,689
Liabilities
$22,944,640
Net assets
$2,008,049
Revenue
$825,562
Expenses
$1,084,981
Net income
-$259,419
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.00$0.00$0.00$0.86$1.10$0.25
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$31.4$28.9$2.57$0.76$0.79$0.03
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$31.8$29.2$2.61$0.81$0.74$0.07
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$30.1$27.6$2.53$0.92$0.81$0.11
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$26.9$24.5$2.42$0.98$0.80$0.18
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$27.0$24.8$2.24$1.14$1.05$0.09
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$27.7$25.5$2.14$0.95$0.92$0.03
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$27.1$25.0$2.11$0.86$0.77$0.09
2015Detailed filing. Detailed filing data is available for this year.$25.5$23.5$2.02$0.82$0.81$0.02
2014Detailed filing. Detailed filing data is available for this year.$25.0$22.9$2.01$0.83$1.08$0.26
2013Detailed filing. Detailed filing data is available for this year.$24.6$22.4$2.27$0.81$0.83$0.02
2012Summary only. Only limited summary data is available for this year.$23.3$21.0$2.29$0.88$0.70$0.19
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$21.3$19.2$2.10$0.73