Civic Intelligence

Wheat State Credit Union

990 • Fiscal year 2020 • EIN 48-6111926

Jan 01, 2020 to Dec 31, 2020 • Filed on Jun 07, 2021

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

91st percentile

0.92x

Higher debt load relative to assets than 91% of similar nonprofits.

2020 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2020

Liabilities / Revenue

14th percentile

12.21x

Higher debt load relative to revenue than 14% of similar nonprofits.

2020 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2020

Net Margin

62nd percentile

9.5%

Higher net margin than 62% of similar nonprofits.

2020 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2020

Top Officer Pay

72nd percentile

$91,717

Higher top officer pay than 72% of similar nonprofits.

Top officer pay equals 5.3% of source-year revenue.

2020 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2020

Asset Growth

84th percentile

20%

Faster asset growth than 84% of similar nonprofits.

2020 filings • 501(c)14 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Revenue Growth

71st percentile

-1.5%

Faster revenue growth than 71% of similar nonprofits.

2020 filings • 501(c)14 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets91st percentile

Assets

Up

$22,695,201

Up $3,752,199 (+20%) from 2019

Net Assets

Up

$1,753,121

Up $162,470 (+10%) from 2019

Liabilities

Up

$20,942,080

Up $3,589,729 (+21%) from 2019

Revenue And Expenses
Liabilities / Revenue14th percentileNet Margin62nd percentile

Revenue

Down

$1,714,990

Down $26,669 (-1.5%) from 2019

Expenses

Down

$1,552,520

Down $7,029 (-0.5%) from 2019

Net Income

Down

$162,470

Down $19,640 (-11%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth84th 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

2020

Assets$22,695,201
Liabilities$20,942,080
Net Assets$1,753,121
Open 2020 Filing

Operations Trend

Revenue Growth71st 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

2020

Revenue$1,714,990
Expenses$1,552,520
Net Income$162,470
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Jun 7, 2021
Return Version
2020v4.1
Gross Receipts
$1,714,990
Mission and Program Overview

Mission

Cooperative financial institution (credit union)

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$16,756,196$15,976,223▼ $779,973
Savings and Temporary Cash Investments$1,402,463$6,043,562▲ $4,641,099
Rtn Earn Endowment Incm Other Fnds$1,590,651$1,753,121▲ $162,470
Cash and Non-Interest-Bearing Accounts$407,853$274,566▼ $133,287
Land, Buildings, and Equipment, Net$60,357$65,045▲ $4,688
Prepaid Expenses and Deferred Charges$67,975$60,334▼ $7,641
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$18,943,002$22,695,201▲ $3,752,199
Other Assets Total$248,158$275,471▲ $27,313
Liabilities
Other Liabilities$17,124,784$20,713,350▲ $3,588,566
Accounts Payable and Accrued Expenses$227,567$228,730▲ $1,163
Total Liabilities$17,352,351$20,942,080▲ $3,589,729
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,590,651$1,753,121▲ $162,470
Total Liabilities and Net Assets / Fund Balance$18,943,002$22,695,201▲ $3,752,199

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$65,045$59,128$124,173
Leasehold Improvements$0$37,400$37,400
Compensation and Service Providers
Top Officer Pay72nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Doug CheatumPresident/CEOFT$73,338$18,379$91,717

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$3,100
Program Service Revenue
$1,673,690
Investment Income
$31,892
Other Revenue
$6,308
Change in Net Assets
$162,470
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,064,704
Salaries, Compensation, and Employee Benefits$487,816
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Office Expenses---$364,912
Other Salaries and Wages---$307,621
Information Technology---$243,087
Current Officers, Directors, Trustees, and Key Employees---$91,717
Occupancy---$66,744
Other Employee Benefits---$35,773
Payroll Taxes---$31,489
Advertising---$27,083
Depreciation Depletion---$25,056
Insurance---$24,066
Conferences and Meetings---$22,802
Pension Plan Contributions---$21,216
Fees for Services Accounting---$15,363
Other Expenses---$13,084
Fees for Services Legal---$7,117
All Other Expenses---$6,972
Fees for Services Other---$1,650
Travel---$70
Total Functional Expenses$0$0$0$1,552,520
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$20,713,350
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 35% controlled entity
No
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 presents the form 990 to the board for approval.”

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
2021-06-07
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
Gerald Tenbrink
Phone
9138946214
Raw XML Appendix339 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/ProgSrvcAccomActy2Grp/Desc0PROVIDES A SOURCE OF CREDIT TO MEMBERS AT A FAIR AND REASONABLE RATE OF INTEREST. AS OF DECEMBER 31, 2020, THERE WERE 1,984 LOANS OUTSTANDING TOTALING $16,478,269.
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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/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 PRESENTS THE FORM 990 TO THE BOARD FOR APPROVAL.
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/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt018943002
IRS990/TotalAssetsEOYAmt022695201
IRS990/TotalAssetsGrp/BOYAmt018943002
IRS990/TotalAssetsGrp/EOYAmt022695201
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt03100
IRS990/TotalEmployeeCnt013
IRS990/TotalFunctionalExpensesGrp/TotalAmt01552520
IRS990/TotalGrossUBIAmt027033
IRS990/TotalLiabilitiesBOYAmt017352351
IRS990/TotalLiabilitiesEOYAmt020942080
IRS990/TotalLiabilitiesGrp/BOYAmt017352351
IRS990/TotalLiabilitiesGrp/EOYAmt020942080
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01590651
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01753121
IRS990/TotalOtherCompensationAmt018379
IRS990/TotalProgramServiceRevenueAmt01673690
IRS990/TotalReportableCompFromOrgAmt073338
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01684857
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01714990
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt027033
IRS990/TotalVolunteersCnt08
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt018943002
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt022695201
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/TotalAmt070
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/WhistleblowerPolicyInd00
IRS990/WrittenPolicyOrProcedureInd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0DOUG CHEATUM
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT/CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum03166874101
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-06-07
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WHEAT STATE CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0WHEA
ReturnHeader/Filer/EIN0486111926
ReturnHeader/Filer/PhoneNum03166874101
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ReturnHeader/Filer/USAddress/CityNm0WICHITA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0KS
ReturnHeader/Filer/USAddress/ZIPCd0672183226
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/PreparationDt02021-05-27
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0GERALD TENBRINK
ReturnHeader/ReturnTs02021-06-07T12:23:09-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0DOUG
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0CHEATUM
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$22,695,201
Liabilities
$20,942,080
Net assets
$1,753,121
Revenue
$1,714,990
Expenses
$1,552,520
Net income
$162,470
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