Civic Intelligence

Area Credit Union

990 • Fiscal year 2015 • EIN 48-0672785

Jan 01, 2015 to Dec 31, 2015 • Filed on Mar 08, 2016

Organization ProfileWWW.AREACU.COM

View Organization Page

1401 FAIRFAX ROAD No E-100Kansas City, KS 66115-1489

(913) 371-1345

Siviq Scores

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

Liabilities / Assets

42nd percentile

0.85x

Higher debt load relative to assets than 42% of similar nonprofits.

2015 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2015

Liabilities / Revenue

74th percentile

25.03x

Higher debt load relative to revenue than 74% of similar nonprofits.

2015 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2015

Net Margin

40th percentile

2.7%

Higher net margin than 40% of similar nonprofits.

2015 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2015

Top Officer Pay

60th percentile

$56,858

Higher top officer pay than 60% of similar nonprofits.

Top officer pay equals 24.0% of source-year revenue.

2015 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2015

Asset Growth

52nd percentile

2.0%

Faster asset growth than 52% of similar nonprofits.

2015 filings • 501(c)14 • $5M-$10M nonprofits • Annualized from 2014 to 2015

Revenue Growth

27th percentile

-4.0%

Faster revenue growth than 27% of similar nonprofits.

2015 filings • 501(c)14 • $5M-$10M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets42nd percentile

Assets

Up

$7,022,954

Up $135,757 (+2.0%) from 2014

Net Assets

Up

$1,087,381

Up $6,514 (+0.6%) from 2014

Liabilities

Up

$5,935,573

Up $129,243 (+2.2%) from 2014

Revenue And Expenses
Liabilities / Revenue74th percentileNet Margin40th percentile

Revenue

Down

$237,164

Down $9,808 (-4.0%) from 2014

Expenses

Down

$230,650

Down $6,145 (-2.6%) from 2014

Net Income

Down

$6,514

Down $3,663 (-36%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth52nd percentile

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2010: $7,038,202Liabilities 2010: $5,973,996Net Assets 2010: $1,064,2062010Assets 2011: $7,109,165Liabilities 2011: $6,020,723Net Assets 2011: $1,088,4422011Assets 2012: $7,321,948Liabilities 2012: $6,260,699Net Assets 2012: $1,061,2492012Assets 2013: $7,052,649Liabilities 2013: $5,981,959Net Assets 2013: $1,070,6902013Assets 2014: $6,887,197Liabilities 2014: $5,806,330Net Assets 2014: $1,080,8672014Assets 2015: $7,022,954Liabilities 2015: $5,935,573Net Assets 2015: $1,087,3812015Assets 2016: $0Liabilities 2016: $0Net Assets 2016: $02016

Highlighted filing

2015

Assets$7,022,954
Liabilities$5,935,573
Net Assets$1,087,381
Open 2015 Filing

Operations Trend

Revenue Growth27th percentile

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

$400K$300K$200K$100K$0-$100KExpenses 2010: $334,3092010Expenses 2011: $315,4772011Expenses 2012: $335,8642012Revenue 2013: $267,400Expenses 2013: $257,959Net Income 2013: $9,4412013Revenue 2014: $246,972Expenses 2014: $236,795Net Income 2014: $10,1772014Revenue 2015: $237,164Expenses 2015: $230,650Net Income 2015: $6,5142015Revenue 2016: $226,544Expenses 2016: $233,529Net Income 2016: -$6,9852016

Highlighted filing

2015

Revenue$237,164
Expenses$230,650
Net Income$6,514
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Mar 8, 2016
Return Version
2015v2.1
Gross Receipts
$237,164
Mission and Program Overview

Mission

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
Savings and Temporary Cash Investments$4,045,345$3,984,477▼ $60,868
Other Notes and Loans Receivable, Net$2,666,730$2,808,427▲ $141,697
Rtn Earn Endowment Incm Other Fnds$1,080,867$1,087,381▲ $6,514
Cash and Non-Interest-Bearing Accounts$72,880$139,471▲ $66,591
Prepaid Expenses and Deferred Charges$24,276$14,919▼ $9,357
Land, Buildings, and Equipment, Net$2,674$1,630▼ $1,044
Accounts Receivable$637$830▲ $193
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$6,887,197$7,022,954▲ $135,757
Other Assets Total$74,655$73,200▼ $1,455
Liabilities
Other Liabilities$5,786,729$5,908,144▲ $121,415
Accounts Payable and Accrued Expenses$19,601$27,429▲ $7,828
Total Liabilities$5,806,330$5,935,573▲ $129,243
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,080,867$1,087,381▲ $6,514
Total Liabilities and Net Assets / Fund Balance$6,887,197$7,022,954▲ $135,757

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,630$24,642$26,272
Compensation and Service Providers
Top Officer Pay60th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Cynthia OlsonManager/CEOFT$43,897$12,961$56,858

Board Members and Trustees

NameTitle
Mary WilliamsPresident
Michael BellVice President
Timothy AkpolugheDirector
Shelia JohnsonSecretary
Larry HurlbertTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$173,650
Investment Income
$63,514
Other Revenue
$0
Change in Net Assets
$6,514
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$121,420
Other Expenses$109,230
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---$56,858
Other Salaries and Wages---$43,764
Office Expenses---$30,752
Occupancy---$19,467
Other Employee Benefits---$13,439
Payroll Taxes---$7,104
Advertising---$6,021
Insurance---$5,775
Fees for Services Accounting---$5,380
Conferences and Meetings---$2,867
Depreciation Depletion---$1,643
Pension Plan Contributions---$255
Fees for Services Legal---$234
All Other Expenses---$60
Other Expenses---$-1,935
Total Functional Expenses$0$0$0$230,650
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$5,908,144
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
No
Other officer compensation reviewed
No
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

“Significant changes such as mergers and changes to bylaws are subject to approval by the credit union members; however, there were no such changes during the year.”

Form 990, Part VI, Section B, line 11

“The manager/ceo reviews the form 990 before filing and makes it available to the board of directors.”

Form 990, Part VI, Section C, line 19

“Financial statements are posted in the lobby, 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
Area Credit Union
EIN
48-0672785
Phone
9133711345
Address
1401 FAIRFAX ROAD No E-100, KANSAS CITY, KS 66115-1489

Signing Officer

Name
Cynthia Olson
Title
Manager/CEO
Phone
9133711345
Signed
2016-03-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Cynthia Olson
Formed
1961
Legal Domicile
Ks
Voting Board Members
5
Independent Board Members
5
Employees
4
Volunteers
9

Preparer

Firm
J Tenbrink & Associates
Address
11272 S RIDGEVIEW RD, OLATHE, KS 66061
Phone
9138946214
Raw XML Appendix315 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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IRS990/ActivityOrMissionDesc0TO PROVIDE HIGH QUALITY FINANCIAL SERVICES FOR OUR MEMBERS/OWNERS, ENHANCING THEIR FINANCIAL WELL-BEING WHILE MAINTAINING THE FINANCIAL STRENGTH OF THE CREDIT UNION.
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IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY
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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, 2015, THERE WERE 377 LOANS OUTSTANDING TOTALING $2,825,335.
IRS990/ProgSrvcAccomActy3Grp/Desc0PAID DIVIDENDS ON MEMBER DEPOSITS TOTALING $30,721 FOR THE YEAR, INCLUDING SHARE REBATE DIVIDENDS OF $7,346 AT YEAR-END.
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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/ExplanationTxt2SIGNIFICANT CHANGES SUCH AS MERGERS AND CHANGES TO BYLAWS ARE SUBJECT TO APPROVAL BY THE CREDIT UNION MEMBERS; HOWEVER, THERE WERE NO SUCH CHANGES DURING THE YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE MANAGER/CEO REVIEWS THE FORM 990 BEFORE FILING AND MAKES IT AVAILABLE TO THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4FINANCIAL STATEMENTS ARE POSTED IN THE LOBBY, 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 B, line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section C, line 19
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IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt0245
IRS990/TotalVolunteersCnt09
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt06887197
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt07022954
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01401 FAIRFAX ROAD E-100
IRS990/USAddress/CityNm0KANSAS CITY
IRS990/USAddress/StateAbbreviationCd0KS
IRS990/USAddress/ZIPCd0661151489
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.AREACU.COM
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02016-08-17 19:52:53Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0CYNTHIA OLSON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0MANAGER/CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum09133711345
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-03-08
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0AREA CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0AREA
ReturnHeader/Filer/EIN0480672785
ReturnHeader/Filer/PhoneNum09133711345
ReturnHeader/Filer/USAddress/AddressLine1Txt01401 FAIRFAX ROAD No E-100
ReturnHeader/Filer/USAddress/CityNm0KANSAS CITY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0KS
ReturnHeader/Filer/USAddress/ZIPCd0661151489
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/ReturnTs02016-03-08T11:53:45-06:00
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
$7,022,954
Liabilities
$5,935,573
Net assets
$1,087,381
Revenue
$237,164
Expenses
$230,650
Net income
$6,514
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2016Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.23$0.23$0.01
2015Detailed filing. Detailed filing data is available for this year.$7.02$5.94$1.09$0.24$0.23$0.01
2014Detailed filing. Detailed filing data is available for this year.$6.89$5.81$1.08$0.25$0.24$0.01
2013Detailed filing. Detailed filing data is available for this year.$7.05$5.98$1.07$0.27$0.26$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.32$6.26$1.06$0.34
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.11$6.02$1.09$0.32
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.04$5.97$1.06$0.33