Civic Intelligence

Wheat State Credit Union

990 • Fiscal year 2018 • EIN 48-6111926

Jan 01, 2018 to Dec 31, 2018 • Filed on Aug 21, 2019

Organization ProfileWWW.WHEATSTATECU.ORG

View Organization Page

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.

2018 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2018

Liabilities / Revenue

13th percentile

10.00x

Higher debt load relative to revenue than 13% of similar nonprofits.

2018 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2018

Net Margin

27th percentile

4.4%

Higher net margin than 27% of similar nonprofits.

2018 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2018

Top Officer Pay

61st percentile

$82,314

Higher top officer pay than 61% of similar nonprofits.

Top officer pay equals 4.6% of source-year revenue.

2018 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2018

Asset Growth

16th percentile

-4.5%

Faster asset growth than 16% of similar nonprofits.

2018 filings • 501(c)14 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Revenue Growth

9th percentile

-0.4%

Faster revenue growth than 9% of similar nonprofits.

2018 filings • 501(c)14 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets96th percentile

Assets

Down

$19,109,676

Down $899,432 (-4.5%) from 2017

Net Assets

Up

$1,408,541

Up $78,237 (+5.9%) from 2017

Liabilities

Down

$17,701,135

Down $977,669 (-5.2%) from 2017

Revenue And Expenses
Liabilities / Revenue13th percentileNet Margin27th percentile

Revenue

Down

$1,770,459

Down $6,271 (-0.4%) from 2017

Expenses

Down

$1,692,222

Down $287,033 (-15%) from 2017

Net Income

Up

$78,237

Up $280,762 (+139%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth16th percentile

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

2018

Assets$19,109,676
Liabilities$17,701,135
Net Assets$1,408,541
Open 2018 Filing

Operations Trend

Revenue Growth9th percentile

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

2018

Revenue$1,770,459
Expenses$1,692,222
Net Income$78,237
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Aug 21, 2019
Return Version
2018v3.1
Gross Receipts
$1,770,459
Mission and Program Overview

Mission

Cooperative financial institution (credit union)

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$17,530,802$16,711,055▼ $819,747
Savings and Temporary Cash Investments$1,847,870$1,707,847▼ $140,023
Rtn Earn Endowment Incm Other Fnds$1,330,304$1,408,541▲ $78,237
Cash and Non-Interest-Bearing Accounts$180,458$179,209▼ $1,249
Land, Buildings, and Equipment, Net$62,392$58,305▼ $4,087
Prepaid Expenses and Deferred Charges$41,857$34,618▼ $7,239
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$20,009,108$19,109,676▼ $899,432
Other Assets Total$345,729$418,642▲ $72,913
Liabilities
Other Liabilities$18,351,785$17,351,141▼ $1,000,644
Accounts Payable and Accrued Expenses$327,019$349,994▲ $22,975
Total Liabilities$18,678,804$17,701,135▼ $977,669
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,330,304$1,408,541▲ $78,237
Total Liabilities and Net Assets / Fund Balance$20,009,108$19,109,676▼ $899,432

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$46,190$333,031$379,221
Leasehold Improvements$12,115$25,501$37,616
Compensation and Service Providers
Top Officer Pay61st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Doug CheatumPresident/CEO (current)FT$63,731$18,583$82,314
Larry Schmitz IiPresident/CEO (through 3/2/2018)FT$18,582$3,029$21,611

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
$2,048
Program Service Revenue
$1,740,652
Investment Income
$21,824
Other Revenue
$5,935
All Other Contributions
$2,048
Change in Net Assets
$78,237
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,199,270
Salaries, Compensation, and Employee Benefits$492,952
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Office Expenses---$321,733
Other Salaries and Wages---$300,177
Information Technology---$128,112
Current Officers, Directors, Trustees, and Key Employees---$104,585
Occupancy---$63,844
Other Employee Benefits---$40,285
Other Expenses---$29,645
Payroll Taxes---$29,347
Insurance---$25,747
Depreciation Depletion---$20,182
Advertising---$19,913
Pension Plan Contributions---$18,558
All Other Expenses---$16,003
Fees for Services Accounting---$14,853
Fees for Services Legal---$14,217
Fees for Services Other---$9,025
Fees for Service Investment Mgmnt Fees---$3,024
Travel---$1,439
Total Functional Expenses$0$0$0$1,692,222
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$17,351,141
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
2019-08-21
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
10
Volunteers
8

Preparer

Firm
J Tenbrink & Associates
Address
11272 S RIDGEVIEW RD, OLATHE, KS 66061
Preparer
Jerry Tenbrink
Phone
9138946214
Raw XML Appendix348 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/Form990PartVIISectionAGrp/TitleTxt4BOARD MEMBER
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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, 2018, THERE WERE 2,231 LOANS OUTSTANDING TOTALING $17,309,054.
IRS990/ProgSrvcAccomActy3Grp/Desc0PAID DIVIDENDS ON MEMBER DEPOSITS TOTALING $83,334 FOR THE YEAR.
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IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt012115
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt025501
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt037616
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt017351141
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MEMBER SHARE DEPOSITS
IRS990ScheduleD/TotalBookValueLandBuildingsAmt058305
IRS990ScheduleD/TotalLiabilityAmt017351141
IRS990/ScheduleJRequiredInd00
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 REVIEWS THE FORM 990 AND PRESENTS IT TO THE BOARD MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ON 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/ExplanationTxt5FINANCIAL 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 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 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt020009108
IRS990/TotalAssetsEOYAmt019109676
IRS990/TotalAssetsGrp/BOYAmt020009108
IRS990/TotalAssetsGrp/EOYAmt019109676
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt02048
IRS990/TotalEmployeeCnt010
IRS990/TotalFunctionalExpensesGrp/TotalAmt01692222
IRS990/TotalGrossUBIAmt021746
IRS990/TotalLiabilitiesBOYAmt018678804
IRS990/TotalLiabilitiesEOYAmt017701135
IRS990/TotalLiabilitiesGrp/BOYAmt018678804
IRS990/TotalLiabilitiesGrp/EOYAmt017701135
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01330304
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01408541
IRS990/TotalOtherCompensationAmt021612
IRS990/TotalProgramServiceRevenueAmt01740652
IRS990/TotalReportableCompFromOrgAmt082313
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01746665
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01770459
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt021746
IRS990/TotalVolunteersCnt08
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt020009108
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt019109676
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/TotalAmt01439
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd01
IRS990/UponRequestInd0X
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IRS990/USAddress/CityNm0WICHITA
IRS990/USAddress/StateAbbreviationCd0KS
IRS990/USAddress/ZIPCd0672183226
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.WHEATSTATECU.ORG
IRS990/WhistleblowerPolicyInd01
IRS990/WrittenPolicyOrProcedureInd01
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ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0DOUG CHEATUM
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT/CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum03166874101
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-08-21
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
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ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId090B5988E53CBDDD12AFD5F67CACC6EB659604036
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt097.87.82.114
ReturnHeader/FilingSecurityInformation/IPDt02019-08-21
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm013:09:43
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0810781371
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/ReturnTs02019-08-21T13:09:53-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-01-01
ReturnHeader/TaxPeriodEndDt02018-12-31
ReturnHeader/TaxYr02018

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$19,109,676
Liabilities
$17,701,135
Net assets
$1,408,541
Revenue
$1,770,459
Expenses
$1,692,222
Net income
$78,237
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