Civic Intelligence

State Chartered Credit Union in North Carolina

990 • Fiscal year 2011 • EIN 56-0558528

Jan 01, 2011 to Dec 31, 2011 • Filed on May 21, 2012

Organization ProfileWWW.FIRSTLEGACYFCU.ORG

View Organization Page

431 Beatties Ford Road28216
Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Flat

$49,203,177

Flat from 2011

Net Assets

Flat

$11,271,245

Flat from 2011

Liabilities

Flat

$37,931,932

Flat from 2011

Revenue And Expenses

Revenue

-

No earlier filing loaded for comparison.

Expenses

Flat

$4,144,866

Flat from 2011

Net Income

-

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$60M$40M$20M$0Assets 2010: $40,697,843Liabilities 2010: $30,035,385Net Assets 2010: $10,662,4582010Assets 2011: $49,203,177Liabilities 2011: $37,931,932Net Assets 2011: $11,271,2452011Assets 2011: $49,203,177Liabilities 2011: $37,931,932Net Assets 2011: $11,271,2452011Assets 2012: $41,005,938Liabilities 2012: $36,320,197Net Assets 2012: $4,685,7412012Assets 2013: $37,471,483Liabilities 2013: $33,209,915Net Assets 2013: $4,261,5682013Assets 2014: $36,350,294Liabilities 2014: $30,804,397Net Assets 2014: $5,545,8972014Assets 2015: $35,010,044Liabilities 2015: $29,009,050Net Assets 2015: $6,000,9942015Assets 2016: $35,067,061Liabilities 2016: $29,408,530Net Assets 2016: $5,658,5312016Assets 2017: $32,318,406Liabilities 2017: $27,886,311Net Assets 2017: $4,432,0952017

Highlighted filing

2011

Assets$49,203,177
Liabilities$37,931,932
Net Assets$11,271,245
Open 2011 Filing

Operations Trend

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

$10M$5.0M$0-$5.0MExpenses 2010: $3,604,9802010Expenses 2011: $4,144,8662011Revenue 2011: $4,873,991Expenses 2011: $4,144,866Net Income 2011: $729,1252011Expenses 2012: $9,477,7712012Revenue 2013: $2,959,043Expenses 2013: $3,383,216Net Income 2013: -$424,1732013Revenue 2014: $4,085,368Expenses 2014: $2,801,039Net Income 2014: $1,284,3292014Revenue 2015: $3,596,173Expenses 2015: $3,163,415Net Income 2015: $432,7582015Revenue 2016: $2,421,284Expenses 2016: $2,763,747Net Income 2016: -$342,4632016Revenue 2017: $1,985,712Expenses 2017: $3,212,148Net Income 2017: -$1,226,4362017

Highlighted filing

2011

Revenue-
Expenses$4,144,866
Net Income-
Open 2011 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2011 to Dec 31, 2011
Signed
May 21, 2012
Return Version
2011v1.2
Gross Receipts
$5,044,455
Mission and Program Overview

Mission

To create wealth in community by providing low interest rate

Filing and Contact Details

Filer

EIN
56-0558528
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IRS990ScheduleD/Form990ScheduleDPartXIV/Explanation0Uncertain tax positions In June 2006, the Financial Accounting Standards Board (FASB) released FASB ASC 740-10, Income Taxes, that provides guidance for reporting uncertainty in income taxes.For the year ended December 31, 2010, the Credit Union has considered FASB ASC 740-10, as amended by Accounting Standards Update (ASU) 2009-06, and determined that no material uncertain tax positions qualify for either recognition or disclosure in the financial statements. The Credit Unions federal Exempt Organization Business Income Tax Returns (Form 990) for 2008 through 2011 are subject to examination by the IRS, generally for three years after they were filed.
IRS990ScheduleD/Form990ScheduleDPartXIV/Explanation1Recoveries on high risk loans $ -120338
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IRS990ScheduleO/GeneralExplanation/Explanation0No documents available to the public.
IRS990ScheduleO/GeneralExplanation/Explanation1The President reviews the key employees' current salary and uses the Complete Credit Union Staff Salary Survey for Human Resources Planning published by CUNA Mutual Group to determine any compensation adjustment before approval.
IRS990ScheduleO/GeneralExplanation/Explanation2The Form 990 is provided to the Board Members for review prior to filing.
IRS990ScheduleO/GeneralExplanation/Explanation3Merger decisions require the approval of membership.
IRS990ScheduleO/GeneralExplanation/Explanation4The members are entitled to vote on the members of the board of directors and an annual members' meeting is held regarding issues affecting the credit union.
IRS990ScheduleO/GeneralExplanation/Explanation5The credit union is owned by its members and members are allowed to vote on the board of directors and significant issues at an annual meeting.
IRS990ScheduleO/GeneralExplanation/Identifier0Form 990, Part VI, Line 19
IRS990ScheduleO/GeneralExplanation/Identifier1Form 990, Part VI, Line 15b
IRS990ScheduleO/GeneralExplanation/Identifier2Form 990, Part VI, Line 11

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2011 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$49,203,177
Liabilities
$37,931,932
Net assets
$11,271,245
Revenue
-
Expenses
$4,144,866
Net income
-
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2017Detailed filing. Detailed filing data is available for this year.$32.3$27.9$4.43$1.99$3.21$1.23
2016Detailed filing. Detailed filing data is available for this year.$35.1$29.4$5.66$2.42$2.76$0.34
2015Detailed filing. Detailed filing data is available for this year.$35.0$29.0$6.00$3.60$3.16$0.43
2014Detailed filing. Detailed filing data is available for this year.$36.4$30.8$5.55$4.09$2.80$1.28
2013Detailed filing. Detailed filing data is available for this year.$37.5$33.2$4.26$2.96$3.38$0.42
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$41.0$36.3$4.69$9.48
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$49.2$37.9$11.3$4.14
2011Summary only. Only limited summary data is available for this year.$49.2$37.9$11.3$4.87$4.14$0.73
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$40.7$30.0$10.7$3.60