Civic Intelligence

Hometown Credit Union

990 • Fiscal year 2015 • EIN 45-0278490

Jan 01, 2015 to Dec 31, 2015 • Filed on Mar 21, 2016

Organization Profilewww.hcuonline.com

View Organization Page

PO Box 310Kulm, ND 58456-0310

(701) 647-2448

Siviq Scores

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

Liabilities / Assets

4th percentile

0.00x

Higher debt load relative to assets than 4% of similar nonprofits.

2015 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2015

Liabilities / Revenue

4th percentile

0.09x

Higher debt load relative to revenue than 4% of similar nonprofits.

2015 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2015

Net Margin

99th percentile

42%

Higher net margin than 99% of similar nonprofits.

2015 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2015

Top Officer Pay

40th percentile

$124,800

Higher top officer pay than 40% of similar nonprofits.

Top officer pay equals 2.7% of source-year revenue.

2015 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2015

Asset Growth

87th percentile

9.0%

Faster asset growth than 87% of similar nonprofits.

2015 filings • 501(c)14 • $50M-$100M nonprofits • Annualized from 2014 to 2015

Revenue Growth

88th percentile

11%

Faster revenue growth than 88% of similar nonprofits.

2015 filings • 501(c)14 • $50M-$100M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets4th percentile

Assets

Up

$98,277,014

Up $8,121,475 (+9.0%) from 2014

Net Assets

Up

$97,843,551

Up $8,055,908 (+9.0%) from 2014

Liabilities

Up

$433,463

Up $65,567 (+18%) from 2014

Revenue And Expenses
Liabilities / Revenue4th percentileNet Margin99th percentile

Revenue

Up

$4,591,232

Up $450,867 (+11%) from 2014

Expenses

Up

$2,671,988

Up $226,227 (+9.2%) from 2014

Net Income

Up

$1,919,244

Up $224,640 (+13%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth87th percentile

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

$300M$200M$100M$0Assets 2010: $57,314,919Liabilities 2010: $251,717Net Assets 2010: $57,063,2022010Assets 2011: $66,510,548Liabilities 2011: $247,975Net Assets 2011: $66,262,5732011Assets 2012: $77,177,638Liabilities 2012: $277,893Net Assets 2012: $76,899,7452012Assets 2013: $86,025,675Liabilities 2013: $216,777Net Assets 2013: $85,808,8982013Assets 2014: $90,155,539Liabilities 2014: $367,896Net Assets 2014: $89,787,6432014Assets 2015: $98,277,014Liabilities 2015: $433,463Net Assets 2015: $97,843,5512015Assets 2016: $108,705,373Liabilities 2016: $4,285,048Net Assets 2016: $104,420,3252016Assets 2017: $112,519,206Liabilities 2017: $888,333Net Assets 2017: $111,630,8732017Assets 2018: $128,792,379Liabilities 2018: $4,446,518Net Assets 2018: $124,345,8612018Assets 2019: $134,163,609Liabilities 2019: $1,151,756Net Assets 2019: $133,011,8532019Assets 2020: $154,098,495Liabilities 2020: $1,079,629Net Assets 2020: $153,018,8662020Assets 2021: $173,811,204Liabilities 2021: $968,595Net Assets 2021: $172,842,6092021Assets 2022: $178,035,582Liabilities 2022: $1,111,262Net Assets 2022: $176,924,3202022Assets 2023: $192,131,949Liabilities 2023: $6,785,426Net Assets 2023: $185,346,5232023Assets 2024: $208,369,066Liabilities 2024: $6,839,858Net Assets 2024: $201,529,2082024

Highlighted filing

2015

Assets$98,277,014
Liabilities$433,463
Net Assets$97,843,551
Open 2015 Filing

Operations Trend

Revenue Growth88th percentile

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

$15M$10M$5.0M$0Expenses 2010: $2,123,1372010Expenses 2011: $2,219,8172011Expenses 2012: $2,159,5962012Revenue 2013: $3,913,374Expenses 2013: $2,421,840Net Income 2013: $1,491,5342013Revenue 2014: $4,140,365Expenses 2014: $2,445,761Net Income 2014: $1,694,6042014Revenue 2015: $4,591,232Expenses 2015: $2,671,988Net Income 2015: $1,919,2442015Revenue 2016: $5,068,675Expenses 2016: $3,263,491Net Income 2016: $1,805,1842016Revenue 2017: $5,372,251Expenses 2017: $3,705,536Net Income 2017: $1,666,7152017Revenue 2018: $6,391,264Expenses 2018: $4,447,468Net Income 2018: $1,943,7962018Revenue 2019: $7,560,392Expenses 2019: $5,673,781Net Income 2019: $1,886,6112019Revenue 2020: $7,076,384Expenses 2020: $5,338,858Net Income 2020: $1,737,5262020Revenue 2021: $7,279,948Expenses 2021: $5,016,003Net Income 2021: $2,263,9452021Revenue 2022: $7,768,677Expenses 2022: $5,188,740Net Income 2022: $2,579,9372022Revenue 2023: $10,309,721Expenses 2023: $7,759,048Net Income 2023: $2,550,6732023Revenue 2024: $12,281,717Expenses 2024: $10,564,097Net Income 2024: $1,717,6202024

Highlighted filing

2015

Revenue$4,591,232
Expenses$2,671,988
Net Income$1,919,244
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Mar 21, 2016
Return Version
2015v2.1
Gross Receipts
$4,591,232
Mission and Program Overview

Mission

Hometown Credit Union is a financial cooperative which is owned and operated for its members. We seek to promote thrift and economic development of our trade area. We strive to provide the best possible financial services to meet members needs. Hometown Credit Union seeks to grow while maintaining its long term financial stability.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$79,614,102$86,192,908▲ $6,578,806
Cap Stk Tr Prin Current Funds$78,850,464$84,987,128▲ $6,136,664
Rtn Earn Endowment Incm Other Fnds$10,937,179$12,856,423▲ $1,919,244
Savings and Temporary Cash Investments$7,169,682$8,145,548▲ $975,866
Prepaid Expenses and Deferred Charges$1,618,331$1,998,619▲ $380,288
Land, Buildings, and Equipment, Net$736,162$884,918▲ $148,756
Investments Other Securities$721,370$818,870▲ $97,500
Cash and Non-Interest-Bearing Accounts$259,892$216,812▼ $43,080
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Total Assets$90,155,539$98,277,014▲ $8,121,475
Other Assets Total$36,000$19,339▼ $16,661
Liabilities
Accounts Payable and Accrued Expenses$367,896$433,463▲ $65,567
Total Liabilities$367,896$433,463▲ $65,567
Net Assets / Fund Balance
Total Net Assets Fund Balance$89,787,643$97,843,551▲ $8,055,908
Total Liabilities and Net Assets / Fund Balance$90,155,539$98,277,014▲ $8,121,475

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$688,988$472,527$0
Other Land Buildings$0$0$0
Land$5,300-$0
Equipment$190,630$428,205$0
Leasehold Improvements$0$0$0
Compensation and Service Providers
Top Officer Pay40th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Harold HagenCEOFT$124,800$124,800

Board Members and Trustees

NameTitle
Rodney KinzlerChairman of the Board
Darvin FischerBoard Member
James McLeishBoard Member
Kennth R WolfBoard Member
Rodney KinzlerBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$4,587,565
Investment Income
$0
Other Revenue
$3,667
Change in Net Assets
$1,919,244
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,597,121
Salaries, Compensation, and Employee Benefits$1,074,867
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$845,824--$845,824
Other Salaries and Wages$785,270--$785,270
Fees for Services Other$185,165--$185,165
Current Officers, Directors, Trustees, and Key Employees$124,800--$124,800
Office Expenses$119,984--$119,984
Other Expenses$106,442$0$0$106,442
Depreciation Depletion$77,682--$77,682
Other Employee Benefits$73,426--$73,426
Payroll Taxes$71,812--$71,812
Advertising$58,275--$58,275
Occupancy$48,050--$48,050
Insurance$42,413--$42,413
Fees for Services Accounting$40,436--$40,436
Conferences and Meetings$32,792--$32,792
Payments to Affiliates$20,336--$20,336
Pension Plan Contributions$19,559--$19,559
Travel$13,771--$13,771
Information Technology$5,951--$5,951
Total Functional Expenses$2,671,988$0$0$2,671,988
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Audit committee
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

“The credit union is made up of members who have a common bond. Hometown Credit Union maintains a field of membership where people living within 75 miles of Kulm, ND and 75 miles of Hazelton, ND are eligible to join (become a member) of our credit union.”

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

“Hometown Credit Union holds an annual meeting for the purpose of electing positions to the board of directors. This is mandated in our By-Laws”

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

“The Board of Directors review the form at their monthly meeting”

Form 990, Part VI, Section C, Line 19

“The financial reports are viewed by the Board of Directors at their monthly meeting. The credit union holds an annual meeting where the financial statements are presented to the member. If a member is not present at the annual meeting, they may request a copy of the report”

Filing and Contact Details

Filer

Filer Name
Hometown Credit Union
EIN
45-0278490
Phone
7016472448
Address
PO Box 310, Kulm, ND 58456-0310

Signing Officer

Name
Betty Gunderson
Title
VP of Operations
Phone
7016472448
Signed
2016-03-21

Organization Details

Principal Officer
Harold Hagen CEO
Formed
1949
Legal Domicile
Nd
Voting Board Members
5
Independent Board Members
5
Employees
26
Volunteers
5
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 24E

“provision for loan losses”

Form 990, Part XI, Line 9

“This represents the growth in member deposits from the previous year”

Raw XML Appendix374 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/RelatedOrganizationCtrlEntInd00
IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt010937179
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt012856423
IRS990/SavingsAndTempCashInvstGrp/BOYAmt07169682
IRS990/SavingsAndTempCashInvstGrp/EOYAmt08145548
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt0688988
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0472527
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt01161515
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/EquipmentGrp/BookValueAmt0190630
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0428205
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt0618835
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/LandGrp/BookValueAmt05300
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt05300
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0884918
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The credit union is made up of members who have a common bond. Hometown Credit Union maintains a field of membership where people living within 75 miles of Kulm, ND and 75 miles of Hazelton, ND are eligible to join (become a member) of our credit union.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Hometown Credit Union holds an annual meeting for the purpose of electing positions to the board of directors. This is mandated in our By-Laws
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Board of Directors review the form at their monthly meeting
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The financial reports are viewed by the Board of Directors at their monthly meeting. The credit union holds an annual meeting where the financial statements are presented to the member. If a member is not present at the annual meeting, they may request a copy of the report
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4provision for loan losses
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5This represents the growth in member deposits from the previous year
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 B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part XI, Line 9
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0ND
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt090155539
IRS990/TotalAssetsEOYAmt098277014
IRS990/TotalAssetsGrp/BOYAmt090155539
IRS990/TotalAssetsGrp/EOYAmt098277014
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt026
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02671988
IRS990/TotalFunctionalExpensesGrp/TotalAmt02671988
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0367896
IRS990/TotalLiabilitiesEOYAmt0433463
IRS990/TotalLiabilitiesGrp/BOYAmt0367896
IRS990/TotalLiabilitiesGrp/EOYAmt0433463
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt089787643
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt097843551
IRS990/TotalOtherCompensationAmt00
IRS990/TotalOtherProgSrvcExpenseAmt00
IRS990/TotalOtherProgSrvcGrantAmt00
IRS990/TotalOtherProgSrvcRevenueAmt00
IRS990/TotalOthProgramServiceRevGrp/ExclusionAmt00
IRS990/TotalOthProgramServiceRevGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt00
IRS990/TotalOthProgramServiceRevGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalProgramServiceExpensesAmt02671988
IRS990/TotalProgramServiceRevenueAmt04587565
IRS990/TotalReportableCompFromOrgAmt0124800
IRS990/TotalRevenueGrp/ExclusionAmt04591232
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt04591232
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt090155539
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt098277014
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt013771
IRS990/TravelGrp/TotalAmt013771
IRS990/TypeOfOrganizationOtherInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt018 S Main
IRS990/USAddress/AddressLine2Txt0PO Box 310
IRS990/USAddress/CityNm0Kulm
IRS990/USAddress/StateAbbreviationCd0ND
IRS990/USAddress/ZIPCd058456
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0www.hcuonline.com
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02016-09-27 15:27:22Z
ReturnHeader/BusinessOfficerGrp/PersonNm0Betty Gunderson
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0VP of Operations
ReturnHeader/BusinessOfficerGrp/PhoneNum07016472448
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-03-21
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0HOMETOWN CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0HOME
ReturnHeader/Filer/EIN0450278490
ReturnHeader/Filer/PhoneNum07016472448
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO Box 310
ReturnHeader/Filer/USAddress/CityNm0Kulm
ReturnHeader/Filer/USAddress/StateAbbreviationCd0ND
ReturnHeader/Filer/USAddress/ZIPCd0584560310
ReturnHeader/ReturnTs02016-05-04T11:16:22-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-01-01
ReturnHeader/TaxPeriodEndDt02015-12-31
ReturnHeader/TaxYr02015

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$98,277,014
Liabilities
$433,463
Net assets
$97,843,551
Revenue
$4,591,232
Expenses
$2,671,988
Net income
$1,919,244
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$208$6.84$202$12.3$10.6$1.72
2023Detailed filing. Detailed filing data is available for this year.$192$6.79$185$10.3$7.76$2.55
2022Detailed filing. Detailed filing data is available for this year.$178$1.11$177$7.77$5.19$2.58
2021Detailed filing. Detailed filing data is available for this year.$174$0.97$173$7.28$5.02$2.26
2020Detailed filing. Detailed filing data is available for this year.$154$1.08$153$7.08$5.34$1.74
2019Detailed filing. Detailed filing data is available for this year.$134$1.15$133$7.56$5.67$1.89
2018Detailed filing. Detailed filing data is available for this year.$129$4.45$124$6.39$4.45$1.94
2017Detailed filing. Detailed filing data is available for this year.$113$0.89$112$5.37$3.71$1.67
2016Detailed filing. Detailed filing data is available for this year.$109$4.29$104$5.07$3.26$1.81
2015Detailed filing. Detailed filing data is available for this year.$98.3$0.43$97.8$4.59$2.67$1.92
2014Detailed filing. Detailed filing data is available for this year.$90.2$0.37$89.8$4.14$2.45$1.69
2013Detailed filing. Detailed filing data is available for this year.$86.0$0.22$85.8$3.91$2.42$1.49
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$77.2$0.28$76.9$2.16
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$66.5$0.25$66.3$2.22
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$57.3$0.25$57.1$2.12