Civic Intelligence

First Nebraska Credit Union

990 • Fiscal year 2017 • EIN 47-0524996

Jan 01, 2017 to Dec 31, 2017 • Filed on May 04, 2018

Organization ProfileWWW.FIRSTNEBRASKA.ORG

View Organization Page

10655 Bedford AveOmaha, NE 68134

(402) 492-9100

Siviq Scores

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

Liabilities / Assets

16th percentile

0.85x

Higher debt load relative to assets than 16% of similar nonprofits.

2017 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2017

Liabilities / Revenue

40th percentile

16.71x

Higher debt load relative to revenue than 40% of similar nonprofits.

2017 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2017

Net Margin

46th percentile

9.8%

Higher net margin than 46% of similar nonprofits.

2017 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2017

Top Officer Pay

2nd percentile

$0

Higher top officer pay than 2% of similar nonprofits.

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

2017 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2017

Asset Growth

94th percentile

12%

Faster asset growth than 94% of similar nonprofits.

2017 filings • 501(c)14 • $100M-$250M nonprofits • Annualized from 2016 to 2017

Revenue Growth

45th percentile

6.0%

Faster revenue growth than 45% of similar nonprofits.

2017 filings • 501(c)14 • $100M-$250M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets16th percentile

Assets

Up

$134,227,899

Up $13,978,879 (+12%) from 2016

Net Assets

Up

$20,503,595

Up $668,605 (+3.4%) from 2016

Liabilities

Up

$113,724,304

Up $13,310,274 (+13%) from 2016

Revenue And Expenses
Liabilities / Revenue40th percentileNet Margin46th percentile

Revenue

Up

$6,805,092

Up $382,471 (+6.0%) from 2016

Expenses

Up

$6,136,487

Up $432,668 (+7.6%) from 2016

Net Income

Down

$668,605

Down $50,197 (-7.0%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth94th percentile

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

$200M$150M$100M$50M$0Assets 2010: $83,134,911Liabilities 2010: $69,078,395Net Assets 2010: $14,056,5162010Assets 2011: $87,352,788Liabilities 2011: $72,764,324Net Assets 2011: $14,588,4642011Assets 2012: $89,282,496Liabilities 2012: $73,898,852Net Assets 2012: $15,383,6442012Assets 2013: $93,742,838Liabilities 2013: $77,597,057Net Assets 2013: $16,145,7812013Assets 2014: $97,265,983Liabilities 2014: $80,356,596Net Assets 2014: $16,909,3872014Assets 2015: $115,052,739Liabilities 2015: $95,936,551Net Assets 2015: $19,116,1882015Assets 2016: $120,249,020Liabilities 2016: $100,414,030Net Assets 2016: $19,834,9902016Assets 2017: $134,227,899Liabilities 2017: $113,724,304Net Assets 2017: $20,503,5952017Assets 2018: $137,257,178Liabilities 2018: $116,130,786Net Assets 2018: $21,126,3922018Assets 2019: $141,005,158Liabilities 2019: $119,236,903Net Assets 2019: $21,768,2552019Assets 2020: $157,193,521Liabilities 2020: $134,919,139Net Assets 2020: $22,274,3822020Assets 2021: $169,996,171Liabilities 2021: $147,297,543Net Assets 2021: $22,698,6282021Assets 2022: $183,513,271Liabilities 2022: $161,538,139Net Assets 2022: $21,975,1322022Assets 2023: $185,047,466Liabilities 2023: $161,559,693Net Assets 2023: $23,487,7732023Assets 2024: $182,580,654Liabilities 2024: $158,164,378Net Assets 2024: $24,416,2762024

Highlighted filing

2017

Assets$134,227,899
Liabilities$113,724,304
Net Assets$20,503,595
Open 2017 Filing

Operations Trend

Revenue Growth45th percentile

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

$15M$10M$5.0M$0Expenses 2010: $5,123,1102010Expenses 2011: $5,190,9552011Expenses 2012: $4,920,0652012Revenue 2013: $5,894,026Expenses 2013: $5,131,889Net Income 2013: $762,1372013Revenue 2014: $5,849,601Expenses 2014: $5,085,995Net Income 2014: $763,6062014Revenue 2015: $6,083,456Expenses 2015: $5,288,865Net Income 2015: $794,5912015Revenue 2016: $6,422,621Expenses 2016: $5,703,819Net Income 2016: $718,8022016Revenue 2017: $6,805,092Expenses 2017: $6,136,487Net Income 2017: $668,6052017Revenue 2018: $7,507,989Expenses 2018: $6,885,192Net Income 2018: $622,7972018Revenue 2019: $8,046,308Expenses 2019: $7,404,445Net Income 2019: $641,8632019Revenue 2020: $8,099,975Expenses 2020: $7,577,854Net Income 2020: $522,1212020Revenue 2021: $8,202,195Expenses 2021: $7,609,795Net Income 2021: $592,4002021Revenue 2022: $8,714,071Expenses 2022: $8,214,075Net Income 2022: $499,9962022Revenue 2023: $10,375,432Expenses 2023: $9,182,193Net Income 2023: $1,193,2392023Revenue 2024: $11,132,438Expenses 2024: $10,086,553Net Income 2024: $1,045,8852024

Highlighted filing

2017

Revenue$6,805,092
Expenses$6,136,487
Net Income$668,605
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
May 4, 2018
Return Version
2017v2.3
Gross Receipts
$6,805,092
Mission and Program Overview

Mission

State chartered credit union

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$75,524,965$84,208,654▲ $8,683,689
Savings and Temporary Cash Investments$22,441,391$19,383,758▼ $3,057,633
Pd in Cap Srpls Land Bldg Eqp Fund$17,506,479$17,539,909▲ $33,430
Investments in Publicly Traded Securities$15,987,480$16,977,466▲ $989,986
Land, Buildings, and Equipment, Net$3,350,762$5,272,097▲ $1,921,335
Rtn Earn Endowment Incm Other Fnds$2,328,511$2,963,686▲ $635,175
Cash and Non-Interest-Bearing Accounts$1,448,406$1,240,673▼ $207,733
Prepaid Expenses and Deferred Charges$89,926$385,042▲ $295,116
Accounts Receivable$28,876$2,090▼ $26,786
Total Assets$120,249,020$134,227,899▲ $13,978,879
Other Assets Total$1,377,214$6,758,119▲ $5,380,905
Liabilities
Other Liabilities$99,716,602$105,752,740▲ $6,036,138
Mortgage Notes Payable Secured by Investment Property-$7,000,000-
Accounts Payable and Accrued Expenses$697,428$971,564▲ $274,136
Total Liabilities$100,414,030$113,724,304▲ $13,310,274
Net Assets / Fund Balance
Total Net Assets Fund Balance$19,834,990$20,503,595▲ $668,605
Total Liabilities and Net Assets / Fund Balance$120,249,020$134,227,899▲ $13,978,879

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,433,720$1,493,420$3,927,140
Land$2,613,877-$2,613,877
Equipment$224,500$1,247,800$1,472,300
Other Land Buildings-$41,390$41,390
Other Assets Org$33,136--
Compensation and Service Providers
Top Officer Pay2nd percentile

Board Members and Trustees

NameTitle
Cynthia ShermanBoard Member
Dolores HoganBoard Member
Gary ClawsenBoard Member
Jeff CampbellBoard Member
John JensenBoard Member
Mary MobergBoard Member
Michael HosovecBoard Member
Nancy WallaceBoard Member
Phil KottmeyerBoard Member
Roger RaeBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$6,178,070
Investment Income
$627,022
Other Revenue
$0
Change in Net Assets
$668,605

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,805,092
Total Revenue per Audited Statements
$6,805,092
Total Revenue per Form 990
$6,805,092
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,147,327
Salaries, Compensation, and Employee Benefits$2,989,160
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$2,423,358
Office Expenses---$479,481
Occupancy---$393,661
Other Employee Benefits---$310,539
Advertising---$279,677
All Other Expenses---$263,979
Payroll Taxes---$181,915
Depreciation Depletion---$140,837
Conferences and Meetings---$128,048
Other Expenses---$94,797
Pension Plan Contributions---$73,348
Fees for Services Legal---$44,585
Insurance---$42,238
Interest---$39,812
Fees for Services Accounting---$27,447
Total Functional Expenses$0$0$0$6,136,487

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$6,136,487
Total Expenses per Audited Statements$6,136,487
Total Expenses per Form 990$6,136,487
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$105,752,740
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
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, 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 12C

“The security martix on the data processing system prohibits employees and directors from initiating transactions on all accounts listed on their conflict of interest disclosure statement, which is updated annually.”

Form 990, Page 6, Part VI, Line 15A

“The compensation for the ceo is compared to a compensation planning software purchsed from a third party. The compensation level is then approved by the board of directors on an annual basis. The last evaluation was conducted in december 2017.”

Form 990, Page 6, Part VI, Line 19

“The monthly financial statements are posted in the lobby of each branch and updated on a monthly basis. The governing documents and conflict of interest policy are not made available to the general public.”

Filing and Contact Details

Filer

Filer Name
First Nebraska Credit Union
EIN
47-0524996
Phone
4024929100
Address
10655 BEDFORD AVE, OMAHA, NE 68134

Signing Officer

Name
Ann Loftis
Title
CEO
Phone
4024929100
Signed
2018-05-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ann Loftis
Formed
1964
Legal Domicile
Ne
Voting Board Members
10
Independent Board Members
10
Employees
73
Volunteers
13

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 Appendix378 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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IRS990ScheduleD/EquipmentGrp/BookValueAmt0224500
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01247800
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt01472300
IRS990ScheduleD/ExpensesSubtotalAmt06136487
IRS990ScheduleD/LandGrp/BookValueAmt02613877
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt02613877
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt05133134
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt11018085
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt2254172
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt3147369
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt4124797
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt547426
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt633136
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0COLI
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc2ACCRUED INTEREST ON LOANS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3ACCRUED INTEREST ON INVESTMENTS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc4ASSETS IN LIQUIDATION
IRS990ScheduleD/OtherAssetsOrgGrp/Desc5DEFERRED COMPENSATION
IRS990ScheduleD/OtherAssetsOrgGrp/Desc6PSCU SERVICE CENTER
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IRS990ScheduleD/TotalLiabilityAmt0105752740
IRS990ScheduleD/TotalRevenuePerForm990Amt06805092
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IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt06136487
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0N/A
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALL DEPOSITORS ARE CONSIDERED MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE CREDIT UNION MEMBERS ELECT ON AN ANNUAL BASIS THE MEMBERS OF THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ANY PROPOSED MERGERS MUST BE APPROVED BY A MAJORITY OF THE MEMBERSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE SECURITY MARTIX ON THE DATA PROCESSING SYSTEM PROHIBITS EMPLOYEES AND DIRECTORS FROM INITIATING TRANSACTIONS ON ALL ACCOUNTS LISTED ON THEIR CONFLICT OF INTEREST DISCLOSURE STATEMENT, WHICH IS UPDATED ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE COMPENSATION FOR THE CEO IS COMPARED TO A COMPENSATION PLANNING SOFTWARE PURCHSED FROM A THIRD PARTY. THE COMPENSATION LEVEL IS THEN APPROVED BY THE BOARD OF DIRECTORS ON AN ANNUAL BASIS. THE LAST EVALUATION WAS CONDUCTED IN DECEMBER 2017.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE MONTHLY FINANCIAL STATEMENTS ARE POSTED IN THE LOBBY OF EACH BRANCH AND UPDATED ON A MONTHLY BASIS. THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT MADE AVAILABLE TO THE GENERAL PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalEmployeeCnt073
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt06136487
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0100414030
IRS990/TotalLiabilitiesEOYAmt0113724304
IRS990/TotalLiabilitiesGrp/BOYAmt0100414030
IRS990/TotalLiabilitiesGrp/EOYAmt0113724304
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt019834990
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IRS990/TotalProgramServiceRevenueAmt06178070
IRS990/TotalRevenueGrp/ExclusionAmt06805092
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt06805092
IRS990/TotalVolunteersCnt013
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0134227899
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IRS990/VotingMembersIndependentCnt010
IRS990/WebsiteAddressTxt0WWW.FIRSTNEBRASKA.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0ANN LOFTIS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum04024929100
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-05-04
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FIRST NEBRASKA CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0FIRS
ReturnHeader/Filer/EIN0470524996
ReturnHeader/Filer/PhoneNum04024929100
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ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt070.167.146.228
ReturnHeader/FilingSecurityInformation/IPDt02018-05-11
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm009:40:15
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0470749138
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0PETERSEN & ASSOCIATES
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0506 E GOLD COAST RD STE 100
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0PAPILLION
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0680464790
ReturnHeader/PreparerPersonGrp/PhoneNum04023332800
ReturnHeader/PreparerPersonGrp/PreparationDt02018-05-04
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0STEVEN O PETERSEN
ReturnHeader/ReturnTs02018-05-11T09:40:15-05:00
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
$134,227,899
Liabilities
$113,724,304
Net assets
$20,503,595
Revenue
$6,805,092
Expenses
$6,136,487
Net income
$668,605
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$183$158$24.4$11.1$10.1$1.05
2023Detailed filing. Detailed filing data is available for this year.$185$162$23.5$10.4$9.18$1.19
2022Detailed filing. Detailed filing data is available for this year.$184$162$22.0$8.71$8.21$0.50
2021Detailed filing. Detailed filing data is available for this year.$170$147$22.7$8.20$7.61$0.59
2020Detailed filing. Detailed filing data is available for this year.$157$135$22.3$8.10$7.58$0.52
2019Detailed filing. Detailed filing data is available for this year.$141$119$21.8$8.05$7.40$0.64
2018Detailed filing. Detailed filing data is available for this year.$137$116$21.1$7.51$6.89$0.62
2017Detailed filing. Detailed filing data is available for this year.$134$114$20.5$6.81$6.14$0.67
2016Detailed filing. Detailed filing data is available for this year.$120$100$19.8$6.42$5.70$0.72
2015Detailed filing. Detailed filing data is available for this year.$115$95.9$19.1$6.08$5.29$0.79
2014Detailed filing. Detailed filing data is available for this year.$97.3$80.4$16.9$5.85$5.09$0.76
2013Detailed filing. Detailed filing data is available for this year.$93.7$77.6$16.1$5.89$5.13$0.76
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$89.3$73.9$15.4$4.92
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$87.4$72.8$14.6$5.19
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$83.1$69.1$14.1$5.12