Civic Intelligence

Wheat State Credit Union

990 • Fiscal year 2017 • EIN 48-6111926

Jan 01, 2017 to Dec 31, 2017 • Filed on Oct 31, 2018

1400 South OliverWichita, KS 67218-3226

(316) 687-4101

Siviq Scores

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

Liabilities / Assets

96th percentile

0.93x

Higher debt load relative to assets than 96% of similar nonprofits.

2017 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2017

Liabilities / Revenue

12th percentile

10.51x

Higher debt load relative to revenue than 12% of similar nonprofits.

2017 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2017

Net Margin

8th percentile

-11%

Higher net margin than 8% of similar nonprofits.

2017 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2017

Top Officer Pay

72nd percentile

$89,205

Higher top officer pay than 72% of similar nonprofits.

Top officer pay equals 5.0% of source-year revenue.

2017 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2017

Asset Growth

12th percentile

-4.7%

Faster asset growth than 12% of similar nonprofits.

2017 filings • 501(c)14 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Revenue Growth

58th percentile

4.8%

Faster revenue growth than 58% of similar nonprofits.

2017 filings • 501(c)14 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Assets

Down

$20,009,108

Down $975,817 (-4.7%) from 2016

Net Assets

Down

$1,330,304

Down $202,525 (-13%) from 2016

Liabilities

Down

$18,678,804

Down $773,292 (-4.0%) from 2016

Revenue

Up

$1,776,730

Up $80,764 (+4.8%) from 2016

Expenses

Up

$1,979,255

Up $254,613 (+15%) from 2016

Net Income

Down

-$202,525

Down $173,849 (-606%) from 2016

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0Assets 2010: $20,606,841Liabilities 2010: $19,155,216Net Assets 2010: $1,451,6252010Assets 2011: $17,959,486Liabilities 2011: $16,431,113Net Assets 2011: $1,528,3732011Assets 2012: $17,339,070Liabilities 2012: $15,769,002Net Assets 2012: $1,570,0682012Assets 2013: $17,902,699Liabilities 2013: $16,304,462Net Assets 2013: $1,598,2372013Assets 2014: $19,716,782Liabilities 2014: $18,181,483Net Assets 2014: $1,535,2992014Assets 2015: $19,869,632Liabilities 2015: $18,308,127Net Assets 2015: $1,561,5052015Assets 2016: $20,984,925Liabilities 2016: $19,452,096Net Assets 2016: $1,532,8292016Assets 2017: $20,009,108Liabilities 2017: $18,678,804Net Assets 2017: $1,330,3042017Assets 2018: $19,109,676Liabilities 2018: $17,701,135Net Assets 2018: $1,408,5412018Assets 2019: $18,943,002Liabilities 2019: $17,352,351Net Assets 2019: $1,590,6512019Assets 2020: $22,695,201Liabilities 2020: $20,942,080Net Assets 2020: $1,753,1212020Assets 2021: $23,509,307Liabilities 2021: $21,377,642Net Assets 2021: $2,131,6652021Assets 2022: $24,510,704Liabilities 2022: $22,231,234Net Assets 2022: $2,279,4702022Assets 2023: $23,529,648Liabilities 2023: $21,159,445Net Assets 2023: $2,370,2032023Assets 2024: $22,387,404Liabilities 2024: $20,256,160Net Assets 2024: $2,131,2442024

Highlighted filing

2017

Assets$20,009,108
Liabilities$18,678,804
Net Assets$1,330,304

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $1,963,9702010Expenses 2011: $1,317,1262011Expenses 2012: $1,160,6192012Revenue 2013: $1,102,130Expenses 2013: $1,072,700Net Income 2013: $29,4302013Revenue 2014: $1,270,693Expenses 2014: $1,333,631Net Income 2014: -$62,9382014Revenue 2015: $1,540,068Expenses 2015: $1,513,862Net Income 2015: $26,2062015Revenue 2016: $1,695,966Expenses 2016: $1,724,642Net Income 2016: -$28,6762016Revenue 2017: $1,776,730Expenses 2017: $1,979,255Net Income 2017: -$202,5252017Revenue 2018: $1,770,459Expenses 2018: $1,692,222Net Income 2018: $78,2372018Revenue 2019: $1,741,659Expenses 2019: $1,559,549Net Income 2019: $182,1102019Revenue 2020: $1,714,990Expenses 2020: $1,552,520Net Income 2020: $162,4702020Revenue 2021: $1,993,886Expenses 2021: $1,615,342Net Income 2021: $378,5442021Revenue 2022: $1,999,955Expenses 2022: $1,852,150Net Income 2022: $147,8052022Revenue 2023: $2,274,023Expenses 2023: $2,183,290Net Income 2023: $90,7332023Revenue 2024: $2,307,987Expenses 2024: $2,546,946Net Income 2024: -$238,9592024

Highlighted filing

2017

Revenue$1,776,730
Expenses$1,979,255
Net Income-$202,525
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Oct 31, 2018
Return Version
2017v2.3
Gross Receipts
$1,932,484
Mission and Program Overview

Mission

Cooperative financial institution (credit union)

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$17,937,236$17,530,802▼ $406,434
Savings and Temporary Cash Investments$2,453,766$1,847,870▼ $605,896
Rtn Earn Endowment Incm Other Fnds$1,532,829$1,330,304▼ $202,525
Cash and Non-Interest-Bearing Accounts$161,089$180,458▲ $19,369
Land, Buildings, and Equipment, Net$84,296$62,392▼ $21,904
Prepaid Expenses and Deferred Charges$30,736$41,857▲ $11,121
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$20,984,925$20,009,108▼ $975,817
Other Assets Total$317,802$345,729▲ $27,927
Liabilities
Other Liabilities$19,032,997$18,351,785▼ $681,212
Accounts Payable and Accrued Expenses$419,099$327,019▼ $92,080
Total Liabilities$19,452,096$18,678,804▼ $773,292
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,532,829$1,330,304▼ $202,525
Total Liabilities and Net Assets / Fund Balance$20,984,925$20,009,108▼ $975,817

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$44,277$318,850$363,127
Leasehold Improvements$18,115$19,501$37,616
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Larry Schmitz IiPresident/CEOFT$75,248$13,957$89,205

Board Members and Trustees

NameTitle
Leland BittleChairman
Larry GrayVice Chairman
David HollowayBoard Member
Forrest EhmkeBoard Member
Linda BurnsideSecretary/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,757,780
Investment Income
$13,255
Other Revenue
$5,695
Change in Net Assets
$-202,525
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,426,885
Salaries, Compensation, and Employee Benefits$552,370
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$371,902
Office Expenses---$317,956
Information Technology---$99,091
Current Officers, Directors, Trustees, and Key Employees---$89,205
Advertising---$87,145
Occupancy---$57,267
Other Employee Benefits---$56,303
Conferences and Meetings---$36,817
Payroll Taxes---$34,092
Depreciation Depletion---$26,753
Insurance---$22,055
Fees for Services Accounting---$14,790
Other Expenses---$13,764
All Other Expenses---$13,234
Fees for Services Other---$6,166
Fees for Services Legal---$5,168
Fees for Service Investment Mgmnt Fees---$4,926
Travel---$2,382
Pension Plan Contributions---$868
Interest---$3
Total Functional Expenses$0$0$0$1,979,255
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$18,351,785
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
No
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, 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 11B

The president reviews the form 990 and presents it to the board members.

Form 990, Part VI, Section B, Line 12C

On an annual basis, all officers, directors, and employees are required to review the conflict of interest policy, disclose any interests that could result in potential conflicts, and submit a signed statement to that effect. These statements are maintained on file at the credit union.

Form 990, Part VI, Section C, Line 19

Financial statements are posted in the credit union 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. All other documents, policies, and procedures are available upon request.

Filing and Contact Details

Filer

Filer Name
Wheat State Credit Union
EIN
48-6111926
Phone
3166874101
Address
1400 SOUTH OLIVER, WICHITA, KS 67218-3226

Signing Officer

Name
Doug Cheatum
Title
President/CEO
Phone
3166874101
Signed
2018-10-31
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Doug Cheatum
Formed
1963
Legal Domicile
Ks
Voting Board Members
5
Independent Board Members
5
Employees
13
Volunteers
8

Preparer

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

Additional Explanations

Form 990, Part III, Line 2

During the year, the credit union expanded member services to include remote deposit capture and mobile banking.

Raw XML Appendix350 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/ProgSrvcAccomActy2Grp/Desc0PROVIDES A SOURCE OF CREDIT TO MEMBERS AT A FAIR AND REASONABLE RATE OF INTEREST. AS OF DECEMBER 31, 2017, THERE WERE 2,265 LOANS OUTSTANDING TOTALING $18,035,511.
IRS990/ProgSrvcAccomActy3Grp/Desc0PAID DIVIDENDS ON MEMBER DEPOSITS TOTALING $98,180 FOR THE YEAR.
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IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt037616
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt018351785
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MEMBER SHARE DEPOSITS
IRS990ScheduleD/TotalBookValueLandBuildingsAmt062392
IRS990ScheduleD/TotalLiabilityAmt018351785
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DURING THE YEAR, THE CREDIT UNION EXPANDED MEMBER SERVICES TO INCLUDE REMOTE DEPOSIT CAPTURE AND MOBILE BANKING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CREDIT UNION IS MUTUALLY OWNED BY MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD OF DIRECTORS ARE ELECTED BY THE CREDIT UNION MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CERTAIN SIGNIFICANT CHANGES ARE SUBJECT TO APPROVAL BY THE CREDIT UNION MEMBERS; HOWEVER, NO SUCH CHANGES WERE MADE DURING THE YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE PRESIDENT REVIEWS THE FORM 990 AND PRESENTS IT TO THE BOARD MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ON AN ANNUAL BASIS, ALL OFFICERS, DIRECTORS, AND EMPLOYEES ARE REQUIRED TO REVIEW THE CONFLICT OF INTEREST POLICY, DISCLOSE ANY INTERESTS THAT COULD RESULT IN POTENTIAL CONFLICTS, AND SUBMIT A SIGNED STATEMENT TO THAT EFFECT. THESE STATEMENTS ARE MAINTAINED ON FILE AT THE CREDIT UNION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6FINANCIAL STATEMENTS ARE POSTED IN THE CREDIT UNION 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. ALL OTHER DOCUMENTS, POLICIES, AND PROCEDURES ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART III, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd01
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt020984925
IRS990/TotalAssetsEOYAmt020009108
IRS990/TotalAssetsGrp/BOYAmt020984925
IRS990/TotalAssetsGrp/EOYAmt020009108
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt013
IRS990/TotalFunctionalExpensesGrp/TotalAmt01979255
IRS990/TotalGrossUBIAmt021440
IRS990/TotalLiabilitiesBOYAmt019452096
IRS990/TotalLiabilitiesEOYAmt018678804
IRS990/TotalLiabilitiesGrp/BOYAmt019452096
IRS990/TotalLiabilitiesGrp/EOYAmt018678804
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01532829
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01330304
IRS990/TotalOtherCompensationAmt013957
IRS990/TotalProgramServiceRevenueAmt01757780
IRS990/TotalReportableCompFromOrgAmt075248
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01755290
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01776730
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt021440
IRS990/TotalVolunteersCnt08
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt020984925
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt020009108
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/TotalAmt02382
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd01
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01400 SOUTH OLIVER
IRS990/USAddress/CityNm0WICHITA
IRS990/USAddress/StateAbbreviationCd0KS
IRS990/USAddress/ZIPCd0672183226
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.WHEATSTATECU.ORG
IRS990/WhistleblowerPolicyInd01
IRS990/WrittenPolicyOrProcedureInd01
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0DOUG CHEATUM
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT/CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum03166874101
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-10-31
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WHEAT STATE CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0WHEA
ReturnHeader/Filer/EIN0486111926
ReturnHeader/Filer/PhoneNum03166874101
ReturnHeader/Filer/USAddress/AddressLine1Txt01400 SOUTH OLIVER
ReturnHeader/Filer/USAddress/CityNm0WICHITA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0KS
ReturnHeader/Filer/USAddress/ZIPCd0672183226
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId08C7C43951168CF45788263B15885B9037C681A73
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0DF81630E7C01E54DA6D3CC5C7C1702BCCB5963A3
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt097.87.82.114
ReturnHeader/FilingSecurityInformation/IPDt02018-10-31
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm012:50:21
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/PreparerPersonGrp/PreparerPersonNm0JERRY TENBRINK
ReturnHeader/ReturnTs02018-10-31T12:50:36-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$22.4$20.3$2.13$2.31$2.55$0.24
2023Detailed filing. Detailed filing data is available for this year.$23.5$21.2$2.37$2.27$2.18$0.09
2022Detailed filing. Detailed filing data is available for this year.$24.5$22.2$2.28$2.00$1.85$0.15
2021Detailed filing. Detailed filing data is available for this year.$23.5$21.4$2.13$1.99$1.62$0.38
2020Detailed filing. Detailed filing data is available for this year.$22.7$20.9$1.75$1.71$1.55$0.16
2019Detailed filing. Detailed filing data is available for this year.$18.9$17.4$1.59$1.74$1.56$0.18
2018Detailed filing. Detailed filing data is available for this year.$19.1$17.7$1.41$1.77$1.69$0.08
2017Detailed filing. Detailed filing data is available for this year.$20.0$18.7$1.33$1.78$1.98$0.20
2016Detailed filing. Detailed filing data is available for this year.$21.0$19.5$1.53$1.70$1.72$0.03
2015Detailed filing. Detailed filing data is available for this year.$19.9$18.3$1.56$1.54$1.51$0.03
2014Detailed filing. Detailed filing data is available for this year.$19.7$18.2$1.54$1.27$1.33$0.06
2013Detailed filing. Detailed filing data is available for this year.$17.9$16.3$1.60$1.10$1.07$0.03
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$17.3$15.8$1.57$1.16
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$18.0$16.4$1.53$1.32
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$20.6$19.2$1.45$1.96