Civic Intelligence

Azura Credit Union

990 • Fiscal year 2014 • EIN 48-0625190

Jan 01, 2014 to Dec 31, 2014 • Filed on Sep 04, 2015

PO Box 1128Topeka, KS 66601-1128

(785) 233-5556

Siviq Scores

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

Liabilities / Assets

60th percentile

0.90x

Higher debt load relative to assets than 60% of similar nonprofits.

2014 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2014

Liabilities / Revenue

83rd percentile

22.93x

Higher debt load relative to revenue than 83% of similar nonprofits.

2014 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2014

Net Margin

22nd percentile

9.1%

Higher net margin than 22% of similar nonprofits.

2014 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2014

Top Officer Pay

19th percentile

$267,152

Higher top officer pay than 19% of similar nonprofits.

Top officer pay equals 2.6% of source-year revenue.

2014 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2014

Asset Growth

1st percentile

-4.0%

Faster asset growth than 1% of similar nonprofits.

2014 filings • 501(c)14 • $250M-$1B nonprofits • Annualized from 2013 to 2014

Revenue Growth

35th percentile

0.1%

Faster revenue growth than 35% of similar nonprofits.

2014 filings • 501(c)14 • $250M-$1B nonprofits • Annualized from 2013 to 2014

Assets

Down

$261,037,399

Down $10,911,891 (-4.0%) from 2013

Net Assets

Up

$26,146,649

Up $1,024,668 (+4.1%) from 2013

Liabilities

Down

$234,890,750

Down $11,936,559 (-4.8%) from 2013

Revenue

Up

$10,244,465

Up $13,759 (+0.1%) from 2013

Expenses

Up

$9,314,758

Up $11,882 (+0.1%) from 2013

Net Income

Up

$929,707

Up $1,877 (+0.2%) from 2013

Historical Trend

Balance Sheet Trend

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

$1.0B$500M$0Assets 2008: $81,294,985Liabilities 2008: $72,560,959Net Assets 2008: $8,734,0262008Assets 2010: $232,487,992Liabilities 2010: $210,364,305Net Assets 2010: $22,123,6872010Assets 2011: $258,144,432Liabilities 2011: $235,097,897Net Assets 2011: $23,046,5352011Assets 2012: $265,791,454Liabilities 2012: $241,323,671Net Assets 2012: $24,467,7832012Assets 2013: $271,949,290Liabilities 2013: $246,827,309Net Assets 2013: $25,121,9812013Assets 2014: $261,037,399Liabilities 2014: $234,890,750Net Assets 2014: $26,146,6492014Assets 2015: $269,124,004Liabilities 2015: $242,360,338Net Assets 2015: $26,763,6662015Assets 2016: $473,326,741Liabilities 2016: $425,478,253Net Assets 2016: $47,848,4882016Assets 2018: $481,919,271Liabilities 2018: $427,332,391Net Assets 2018: $54,586,8802018Assets 2019: $527,290,156Liabilities 2019: $468,061,978Net Assets 2019: $59,228,1782019Assets 2020: $634,094,379Liabilities 2020: $570,463,918Net Assets 2020: $63,630,4612020Assets 2021: $682,703,343Liabilities 2021: $609,696,819Net Assets 2021: $73,006,5242021Assets 2024: $806,120,563Liabilities 2024: $724,495,481Net Assets 2024: $81,625,0822024

Highlighted filing

2014

Assets$261,037,399
Liabilities$234,890,750
Net Assets$26,146,649

Operations Trend

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

$60M$40M$20M$0Expenses 2008: $4,801,6112008Expenses 2010: $8,692,4422010Expenses 2011: $10,314,1672011Expenses 2012: $9,785,6842012Revenue 2013: $10,230,706Expenses 2013: $9,302,876Net Income 2013: $927,8302013Revenue 2014: $10,244,465Expenses 2014: $9,314,758Net Income 2014: $929,7072014Revenue 2015: $9,929,135Expenses 2015: $9,178,268Net Income 2015: $750,8672015Revenue 2016: $18,256,935Expenses 2016: $15,631,908Net Income 2016: $2,625,0272016Revenue 2018: $25,975,630Expenses 2018: $22,143,755Net Income 2018: $3,831,8752018Revenue 2019: $28,768,772Expenses 2019: $25,093,164Net Income 2019: $3,675,6082019Revenue 2020: $29,147,965Expenses 2020: $25,400,575Net Income 2020: $3,747,3902020Revenue 2021: $33,958,013Expenses 2021: $24,261,793Net Income 2021: $9,696,2202021Revenue 2024: $58,239,569Expenses 2024: $56,925,248Net Income 2024: $1,314,3212024

Highlighted filing

2014

Revenue$10,244,465
Expenses$9,314,758
Net Income$929,707
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Sep 4, 2015
Return Version
2014v5.0
Gross Receipts
$10,406,227
Mission and Program Overview

Mission

Azura is enhancing lives by delivering innovative financial service, education, and value through personal and community engagement.

Quest credit union will exceed member expectations in our commitment to their financial success.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$142,298,877$130,710,349▼ $11,588,528
Other Notes and Loans Receivable, Net$81,797,725$81,952,998▲ $155,273
Savings and Temporary Cash Investments$26,475,077$27,335,592▲ $860,515
Rtn Earn Endowment Incm Other Fnds$25,121,981$26,146,649▲ $1,024,668
Investments Other Securities$6,579,816$6,749,929▲ $170,113
Land, Buildings, and Equipment, Net$5,583,040$5,268,744▼ $314,296
Cash and Non-Interest-Bearing Accounts$4,688,945$4,889,496▲ $200,551
Prepaid Expenses and Deferred Charges$409,576$398,594▼ $10,982
Accounts Receivable$150,780$68,586▼ $82,194
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$271,949,290$261,037,399▼ $10,911,891
Other Assets Total$3,965,454$3,663,111▼ $302,343
Liabilities
Other Liabilities$245,029,689$232,206,914▼ $12,822,775
Accounts Payable and Accrued Expenses$1,553,651$2,419,961▲ $866,310
Escrow Account Liability$243,969$263,875▲ $19,906
Total Liabilities$246,827,309$234,890,750▼ $11,936,559
Net Assets / Fund Balance
Total Net Assets Fund Balance$25,121,981$26,146,649▲ $1,024,668
Total Liabilities and Net Assets / Fund Balance$271,949,290$261,037,399▼ $10,911,891

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,750,158$2,173,276$5,923,434
Equipment$604,301$2,129,910$2,734,211
Land$877,537-$877,537
Leasehold Improvements$31,112$502,475$533,587
Other Land Buildings$5,636$6,510$12,146
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Vicky HurtPresident/CEOFT$141,090$126,062$267,152
Gary ColcherInvestmentsPT$130,006$131,367$261,373

Board Members and Trustees

NameTitle
Bobb CollieChairman
William Mike LackeyVice Chairman
Bradford DeiterDirector
Gelene SavageDirector
Jo Ann GoedekeDirector
Randall PachosaDirector
Terry HeidnerDirector
Donald FrickSecretary
Bryan VargasTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$7,374,483
Investment Income
$2,819,471
Other Revenue
$50,511
Change in Net Assets
$929,707

Audited Revenue Reconciliation

Revenue per Audited Statements
$10,244,465
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$10,244,465
Total Revenue per Form 990
$10,244,465
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$5,614,306
Salaries, Compensation, and Employee Benefits$3,621,225
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$2,604,731
Office Expenses---$1,857,740
Depreciation Depletion---$403,185
Advertising---$295,624
Occupancy---$282,788
Other Employee Benefits---$282,141
Current Officers, Directors, Trustees, and Key Employees---$267,152
Pension Plan Contributions---$254,191
Fees for Services Other---$236,839
Payroll Taxes---$213,010
Information Technology---$138,339
Fees for Services Accounting---$109,610
Insurance---$88,896
Conferences and Meetings---$81,298
Benefits to Members---$79,227
Fees for Service Investment Mgmnt Fees---$67,808
Other Expenses---$46,828
All Other Expenses---$26,154
Fees for Services Legal---$5,406
Total Functional Expenses$0$0$0$9,314,758

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$9,314,758
Total Expenses per Audited Statements$9,314,758
Total Expenses per Form 990$9,314,758
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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$232,206,914
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
Yes
Other officer compensation reviewed
Yes
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 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 11

The president/ceo reviews and approves the form 990.

Form 990, Part VI, Section B, Line 15

The compensation committee of the board of directors reviews performance and determines compensation for the president/ceo using various information, including the compease salary administration program and the form 990 of similar organizations. All other management compensation is presented as part of the budget package to the board of directors 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 written request. In addition, the ncua website posts financial information as part of the quarterly call reports. Other documents, policies, and procedures are available upon written request.

Filing and Contact Details

Filer

Filer Name
Quest Credit Union
EIN
48-0625190
Phone
7852335556
Address
PO BOX 1128, TOPEKA, KS 66601-1128

Signing Officer

Name
Vickie Hurt
Title
President/CEO
Phone
7852335556
Signed
2015-09-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Vickie Hurt
Formed
1974
Legal Domicile
Ks
Voting Board Members
9
Independent Board Members
9
Employees
74
Volunteers
13

Preparer

Firm
J Tenbrink & Associates
Address
11272 S RIDGEVIEW RD, OLATHE, KS 66061
Phone
9138946214
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Other adjustments to undivided earnings -898.

Financial Statement Notes

PART IV, LINE 2B:

The credit union maintains escrow accounts for insurance and property taxes related to member real estate loans. In addition, there are several certified credit union financial counselors available to assist members upon request.

PART X, LINE 2:

The credit union is exempt from most federal, state, and local taxes under the provisions of the internal revenue code and state tax laws. Fasb asc 740-10-25, "income taxes, overall recognition" clarifies accounting for uncertain income taxes reported in the financial statements. The interpretation provides criteria for assessment of individual tax positions and a process for recognition and measurement of uncertain tax positions. Tax positions are evaluated on whether they meet the "more likely than not" standard for sustainability upon examination by tax authorities. The credit union is a state-chartered credit union as defined in internal revenue code (irc) section 501(c)(14). As such, the credit union is exempt from federal taxation of income derived from the performance of activities directly related to its exempt purposes. However, irc section 511 imposes a tax on the unrelated business income (ubi) derived by state-chartered credit unions. Court decisons have been rendered in response to legal challenges from individual credit unions against the irs, which specified the revenue sources subject to ubit. The two court rulings rejected the irs's analysis of how ubit should apply to credit unions by determining that revenue sources listed by the irs were substantially related to the credit union's tax emempt purpose, and therefore, not subject to ubit. Credit union management accepts the legal decisions rendered by the courts and determined that the credit union has limited income derived from non-exempt sources. The credit union has filed the 990 and 990-t returns up to and including 2013, and intends to file the 2014 990 and 990-t tax returns under the same approach. With few exeptions, the credit union is no longer subject to u.s. Federal, state, or local income tax examinations by tax authorities for years before 2010.

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IRS990/NetAssetsOrFundBalancesEOYAmt026146649
IRS990/NetGainOrLossInvestmentsGrp/RelatedOrExemptFuncIncomeAmt056950
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt056950
IRS990/NetUnrelatedBusTxblIncmAmt0-20224
IRS990/NetUnrlzdGainsLossesInvstAmt095859
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/TotalAmt0282788
IRS990/OfficeExpensesGrp/TotalAmt01857740
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt03965454
IRS990/OtherAssetsTotalGrp/EOYAmt03663111
IRS990/OtherChangesInNetAssetsAmt0-898
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0282141
IRS990/OtherExpensesGrp/Desc0MEMBER DIVIDENDS
IRS990/OtherExpensesGrp/Desc1LOAN SERVICING
IRS990/OtherExpensesGrp/Desc2PROVISION FOR LOAN LOSS
IRS990/OtherExpensesGrp/Desc3ASSOCIATION DUES
IRS990/OtherExpensesGrp/TotalAmt01389473
IRS990/OtherExpensesGrp/TotalAmt1345798
IRS990/OtherExpensesGrp/TotalAmt2238520
IRS990/OtherExpensesGrp/TotalAmt346828
IRS990/OtherLiabilitiesGrp/BOYAmt0245029689
IRS990/OtherLiabilitiesGrp/EOYAmt0232206914
IRS990/OtherSalariesAndWagesGrp/TotalAmt02604731
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt081797725
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt081952998
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/TotalAmt0213010
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt0254191
IRS990/PoliciesReferenceChaptersInd01
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0409576
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0398594
IRS990/PrincipalOfficerNm0VICKIE HURT
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0522100
IRS990/ProgramServiceRevenueGrp/BusinessCd1522100
IRS990/ProgramServiceRevenueGrp/BusinessCd2522100
IRS990/ProgramServiceRevenueGrp/BusinessCd3522100
IRS990/ProgramServiceRevenueGrp/BusinessCd4522100
IRS990/ProgramServiceRevenueGrp/Desc0INTEREST ON LOANS
IRS990/ProgramServiceRevenueGrp/Desc1FEES & OTHER INCOME
IRS990/ProgramServiceRevenueGrp/Desc2NON-MEMBER FEES
IRS990/ProgramServiceRevenueGrp/Desc3WARRANTY SALES
IRS990/ProgramServiceRevenueGrp/Desc4OTHER INSURANCE SERVICES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt04405610
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt12874260
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt04405610
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt12874260
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt285128
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt37833
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt41652
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt085128
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt17833
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt21652
IRS990/ProgSrvcAccomActy2Grp/Desc0PROVIDES A SOURCE OF CREDIT TO MEMBERS AT A FAIR AND REASONABLE RATE OF INTEREST. AS OF DECEMBER 31, 2014, THERE WERE 9,550 LOANS OUTSTANDING TOTALING $82,712,826.
IRS990/ProgSrvcAccomActy3Grp/Desc0PAID DIVIDENDS ON MEMBER DEPOSITS TOTALING $1,389,473 FOR THE YEAR.
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt097384
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt02470267
IRS990/PYOtherExpensesAmt05739120
IRS990/PYOtherRevenueAmt0117013
IRS990/PYProgramServiceRevenueAmt07643426
IRS990/PYRevenuesLessExpensesAmt0927830
IRS990/PYSalariesCompEmpBnftPaidAmt03466372
IRS990/PYTotalExpensesAmt09302876
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt010230706
IRS990/ReconcilationRevenueExpnssAmt0929707
IRS990/RegularMonitoringEnfrcInd00
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RoyaltiesRevenueGrp/RelatedOrExemptFuncIncomeAmt050511
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt050511
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt025121981
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt026146649
IRS990/SavingsAndTempCashInvstGrp/BOYAmt026475077
IRS990/SavingsAndTempCashInvstGrp/EOYAmt027335592
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/AgentTrusteeEtcInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt03750158
IRS990ScheduleD/BuildingsGrp/DepreciationAmt02173276
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt05923434
IRS990ScheduleD/EquipmentGrp/BookValueAmt0604301
IRS990ScheduleD/EquipmentGrp/DepreciationAmt02129910
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt02734211
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt09314758
IRS990ScheduleD/ExplanationProvidedInd0X
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd01
IRS990ScheduleD/LandGrp/BookValueAmt0877537
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0877537
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt031112
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0502475
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0533587
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt05636
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt06510
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt012146
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0232206914
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MEMBER SHARE DEPOSITS
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt010244465
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CREDIT UNION MAINTAINS ESCROW ACCOUNTS FOR INSURANCE AND PROPERTY TAXES RELATED TO MEMBER REAL ESTATE LOANS. IN ADDITION, THERE ARE SEVERAL CERTIFIED CREDIT UNION FINANCIAL COUNSELORS AVAILABLE TO ASSIST MEMBERS UPON REQUEST.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE, AND LOCAL TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE AND STATE TAX LAWS. FASB ASC 740-10-25, "INCOME TAXES, OVERALL RECOGNITION" CLARIFIES ACCOUNTING FOR UNCERTAIN INCOME TAXES REPORTED IN THE FINANCIAL STATEMENTS. THE INTERPRETATION PROVIDES CRITERIA FOR ASSESSMENT OF INDIVIDUAL TAX POSITIONS AND A PROCESS FOR RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. TAX POSITIONS ARE EVALUATED ON WHETHER THEY MEET THE "MORE LIKELY THAN NOT" STANDARD FOR SUSTAINABILITY UPON EXAMINATION BY TAX AUTHORITIES. THE CREDIT UNION IS A STATE-CHARTERED CREDIT UNION AS DEFINED IN INTERNAL REVENUE CODE (IRC) SECTION 501(C)(14). AS SUCH, THE CREDIT UNION IS EXEMPT FROM FEDERAL TAXATION OF INCOME DERIVED FROM THE PERFORMANCE OF ACTIVITIES DIRECTLY RELATED TO ITS EXEMPT PURPOSES. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME (UBI) DERIVED BY STATE-CHARTERED CREDIT UNIONS. COURT DECISONS HAVE BEEN RENDERED IN RESPONSE TO LEGAL CHALLENGES FROM INDIVIDUAL CREDIT UNIONS AGAINST THE IRS, WHICH SPECIFIED THE REVENUE SOURCES SUBJECT TO UBIT. THE TWO COURT RULINGS REJECTED THE IRS'S ANALYSIS OF HOW UBIT SHOULD APPLY TO CREDIT UNIONS BY DETERMINING THAT REVENUE SOURCES LISTED BY THE IRS WERE SUBSTANTIALLY RELATED TO THE CREDIT UNION'S TAX EMEMPT PURPOSE, AND THEREFORE, NOT SUBJECT TO UBIT. CREDIT UNION MANAGEMENT ACCEPTS THE LEGAL DECISIONS RENDERED BY THE COURTS AND DETERMINED THAT THE CREDIT UNION HAS LIMITED INCOME DERIVED FROM NON-EXEMPT SOURCES. THE CREDIT UNION HAS FILED THE 990 AND 990-T RETURNS UP TO AND INCLUDING 2013, AND INTENDS TO FILE THE 2014 990 AND 990-T TAX RETURNS UNDER THE SAME APPROACH. WITH FEW EXEPTIONS, THE CREDIT UNION IS NO LONGER SUBJECT TO U.S. FEDERAL, STATE, OR LOCAL INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE 2010.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART IV, LINE 2B:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt05268744
IRS990ScheduleD/TotalExpensesPerForm990Amt09314758
IRS990ScheduleD/TotalLiabilityAmt0232206914
IRS990ScheduleD/TotalRevenuePerForm990Amt010244465
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt010244465
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt09314758
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompensationCommitteeInd0X
IRS990ScheduleJ/CompensationSurveyInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/Form990OfOtherOrganizationsInd0X
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0141090
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt1130006
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt0119741
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt1119825
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt06321
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt111542
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0VICKY HURT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1GARY COLCHER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT/CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1INVESTMENTS
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0267152
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt1261373
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt10
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS REVIEWS PERFORMANCE AND DETERMINES COMPENSATION FOR THE PRESIDENT/CEO USING VARIOUS INFORMATION, INCLUDING THE COMPEASE SALARY ADMINISTRATION PROGRAM AND THE FORM 990 OF SIMILAR ORGANIZATIONS.
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt1THE CREDIT UNION MAINTAINS SUPPLEMENTAL EXECUTIVE RETIREMENT PLANS FOR KEY SENIOR EXECUTIVES IF THEY REMAIN EMPLOYED BY THE CREDIT UNION FOR A SPECIFIED PERIOD OF TIME. THE ESTIMATED LIABILITY UNDER THE AGREEMENTS IS BEING ACCRUED AS DEFINED IN THE PLANS OVER THE REMAINING YEARS OF SERVICE. THE CONTRIBUTIONS INTO THE PLANS ARE ACCRUED AS COMPENSATION EXPENSE AND FUNDED ON A CURRENT BASIS. THE APPLICABLE EXECUTIVES AND AMOUNTS EXPENSED IN 2014 ARE LISTED BELOW: VICKIE HURT, PRESIDENT/CEO - $105,324 GARY COLCHER, INVESTMENTS - $106,975 NO AMOUNTS WERE PAID OUT IN 2014.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 3
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc1PART I, LINE 4B
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd01
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/ExplanationTxt3THE PRESIDENT/CEO REVIEWS AND APPROVES THE FORM 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS REVIEWS PERFORMANCE AND DETERMINES COMPENSATION FOR THE PRESIDENT/CEO USING VARIOUS INFORMATION, INCLUDING THE COMPEASE SALARY ADMINISTRATION PROGRAM AND THE FORM 990 OF SIMILAR ORGANIZATIONS. ALL OTHER MANAGEMENT COMPENSATION IS PRESENTED AS PART OF THE BUDGET PACKAGE TO THE BOARD OF DIRECTORS FOR APPROVAL. THE BOARD'S DELIBERATIONS AND DECISIONS ARE DOCUMENTED IN THE MINUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5FINANCIAL STATEMENTS ARE PRESENTED AT THE ANNUAL MEETING AND ARE AVAILABLE UPON WRITTEN REQUEST. IN ADDITION, THE NCUA WEBSITE POSTS FINANCIAL INFORMATION AS PART OF THE QUARTERLY CALL REPORTS. OTHER DOCUMENTS, POLICIES, AND PROCEDURES ARE AVAILABLE UPON WRITTEN REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6OTHER ADJUSTMENTS TO UNDIVIDED EARNINGS -898.
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 B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XI, LINE 9:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0271949290
IRS990/TotalAssetsEOYAmt0261037399
IRS990/TotalAssetsGrp/BOYAmt0271949290

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$806$724$81.6$58.2$56.9$1.31
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$683$610$73.0$34.0$24.3$9.70
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$634$570$63.6$29.1$25.4$3.75
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$527$468$59.2$28.8$25.1$3.68
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$482$427$54.6$26.0$22.1$3.83
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$473$425$47.8$18.3$15.6$2.63
2015Detailed filing. Detailed filing data is available for this year.$269$242$26.8$9.93$9.18$0.75
2014Detailed filing. Detailed filing data is available for this year.$261$235$26.1$10.2$9.31$0.93
2013Detailed filing. Detailed filing data is available for this year.$272$247$25.1$10.2$9.30$0.93
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$266$241$24.5$9.79
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$258$235$23.0$10.3
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$232$210$22.1$8.69
2008Facts available. Structured filing facts are available, but richer extracted sections are limited.$81.3$72.6$8.73$4.80