Civic Intelligence

State Chartered Credit Unions in North Carolina

990 • Fiscal year 2019 • EIN 56-0580539

Jan 01, 2019 to Dec 31, 2019 • Filed on May 08, 2020

Organization ProfileWWW.ARCADECU.COM

View Organization Page

151 Patton AvenueAsheville, NC 28801

(828) 254-1582

Siviq Scores

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

Liabilities / Assets

70th percentile

0.87x

Higher debt load relative to assets than 70% of similar nonprofits.

2019 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

68th percentile

20.78x

Higher debt load relative to revenue than 68% of similar nonprofits.

2019 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2019

Net Margin

22nd percentile

2.5%

Higher net margin than 22% of similar nonprofits.

2019 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

21st percentile

$0

Higher top officer pay than 21% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2019 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2019

Asset Growth

16th percentile

-5.5%

Faster asset growth than 16% of similar nonprofits.

2019 filings • 501(c)14 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

55th percentile

5.8%

Faster revenue growth than 55% of similar nonprofits.

2019 filings • 501(c)14 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets70th percentile

Assets

Down

$6,932,519

Down $400,357 (-5.5%) from 2018

Net Assets

Up

$898,767

Up $7,187 (+0.8%) from 2018

Liabilities

Down

$6,033,752

Down $407,544 (-6.3%) from 2018

Revenue And Expenses
Liabilities / Revenue68th percentileNet Margin22nd percentile

Revenue

Up

$290,360

Up $15,978 (+5.8%) from 2018

Expenses

Up

$283,173

Up $9,626 (+3.5%) from 2018

Net Income

Up

$7,187

Up $6,352 (+761%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth16th percentile

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

$10M$5.0M$0Assets 2011: $7,044,565Liabilities 2011: $5,855,339Net Assets 2011: $1,189,2262011Assets 2012: $7,216,526Liabilities 2012: $6,031,066Net Assets 2012: $1,185,4602012Assets 2013: $6,926,160Liabilities 2013: $5,930,874Net Assets 2013: $995,2862013Assets 2014: $6,979,257Liabilities 2014: $6,028,360Net Assets 2014: $950,8972014Assets 2015: $6,972,515Liabilities 2015: $6,018,008Net Assets 2015: $954,5072015Assets 2016: $6,986,370Liabilities 2016: $6,091,326Net Assets 2016: $895,0442016Assets 2017: $7,831,500Liabilities 2017: $6,940,755Net Assets 2017: $890,7452017Assets 2018: $7,332,876Liabilities 2018: $6,441,296Net Assets 2018: $891,5802018Assets 2019: $6,932,519Liabilities 2019: $6,033,752Net Assets 2019: $898,7672019Assets 2020: $7,005,230Liabilities 2020: $6,130,027Net Assets 2020: $875,2032020Assets 2021: $7,602,782Liabilities 2021: $6,731,094Net Assets 2021: $871,6882021Assets 2022: $7,560,900Liabilities 2022: $6,692,097Net Assets 2022: $868,8032022Assets 2023: $7,957,273Liabilities 2023: $7,000,056Net Assets 2023: $957,2172023Assets 2024: $8,211,950Liabilities 2024: $7,173,926Net Assets 2024: $1,038,0242024

Highlighted filing

2019

Assets$6,932,519
Liabilities$6,033,752
Net Assets$898,767
Open 2019 Filing

Operations Trend

Revenue Growth55th percentile

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

$600K$400K$200K$0-$200KRevenue 2011: $299,837Expenses 2011: $298,922Net Income 2011: $9152011Revenue 2012: $281,018Expenses 2012: $284,784Net Income 2012: -$3,7662012Revenue 2013: $252,393Expenses 2013: $442,567Net Income 2013: -$190,1742013Revenue 2014: $226,950Expenses 2014: $271,339Net Income 2014: -$44,3892014Revenue 2015: $233,225Expenses 2015: $229,615Net Income 2015: $3,6102015Revenue 2016: $235,418Expenses 2016: $294,881Net Income 2016: -$59,4632016Revenue 2017: $246,288Expenses 2017: $250,587Net Income 2017: -$4,2992017Revenue 2018: $274,382Expenses 2018: $273,547Net Income 2018: $8352018Revenue 2019: $290,360Expenses 2019: $283,173Net Income 2019: $7,1872019Revenue 2020: $250,134Expenses 2020: $273,698Net Income 2020: -$23,5642020Revenue 2021: $220,223Expenses 2021: $223,738Net Income 2021: -$3,5152021Revenue 2022: $254,248Expenses 2022: $257,133Net Income 2022: -$2,8852022Revenue 2023: $381,545Expenses 2023: $293,131Net Income 2023: $88,4142023Revenue 2024: $436,746Expenses 2024: $356,576Net Income 2024: $80,1702024

Highlighted filing

2019

Revenue$290,360
Expenses$283,173
Net Income$7,187
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
May 8, 2020
Return Version
2019v5.0
Gross Receipts
$290,360
Mission and Program Overview

Mission

To make loans and provide savings accounts for members at reasonable rates

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$3,750,241$3,646,800▼ $103,441
Savings and Temporary Cash Investments$3,357,626$3,101,558▼ $256,068
Rtn Earn Endowment Incm Other Fnds$891,580$898,767▲ $7,187
Cash and Non-Interest-Bearing Accounts$124,460$83,653▼ $40,807
Land, Buildings, and Equipment, Net$8,042$11,404▲ $3,362
Total Assets$7,332,876$6,932,519▼ $400,357
Other Assets Total$92,507$89,104▼ $3,403
Liabilities
Other Liabilities$6,426,435$6,013,393▼ $413,042
Accounts Payable and Accrued Expenses$14,861$20,359▲ $5,498
Total Liabilities$6,441,296$6,033,752▼ $407,544
Net Assets / Fund Balance
Total Net Assets Fund Balance$891,580$898,767▲ $7,187
Total Liabilities and Net Assets / Fund Balance$7,332,876$6,932,519▼ $400,357
Compensation and Service Providers
Top Officer Pay21st percentile

Board Members and Trustees

NameTitle
Vann GibbsPresident
Karen KellyBoard Member
Larry CarrBoard Member
Mike HunsuckerBoard Member
Robert ReynoldsBoard Member
Tami HoustonBoard Member
Charlene HyattManager/ Tre
John HughesSecretary
William BrownVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$235,118
Investment Income
$55,242
Other Revenue
$0
Change in Net Assets
$7,187
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$154,040
Salaries, Compensation, and Employee Benefits$129,133
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$116,220$12,913-$129,133
Information Technology$64,465--$64,465
Office Expenses$35,602--$35,602
Interest$15,270--$15,270
Fees for Services Other$14,147--$14,147
Other Expenses$1,630$1,739-$1,630
Conferences and Meetings$1,200--$1,200
Advertising$85--$85
Total Functional Expenses$268,521$14,652$0$283,173
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
Total Shares$6,013,393
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Backup withholding compliance
No
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
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“Sent to manager for review and signature”

Form 990, Page 6, Part VI, Line 12C

“Monitor periodically to ensure compliance”

Form 990, Page 6, Part VI, Line 19

“Provides copies upon request”

Filing and Contact Details

Filer

Filer Name
Arcade Credit Union
EIN
56-0580539
Phone
8282541582
Address
151 PATTON AVENUE, ASHEVILLE, NC 28801

Signing Officer

Name
Charlene Hyatt
Title
Manager/ Treasurer
Phone
8282541582
Signed
2020-05-08

Organization Details

Principal Officer
Charlene Hyatt
Formed
1952
Legal Domicile
Nc
Voting Board Members
9
Independent Board Members
8
Employees
3

Preparer

Firm
Cantey Tiller Pierce & Green Llp
Address
PO BOX 862, CAMDEN, SC 29021
Preparer
Janet M Pierce
Phone
8034321436
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

“During the year, the credit union served its members by providing loans at reasonable rates. It also accepted deposits and paid reasonable rates of interest on those deposits.”

Raw XML Appendix317 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/TitleTxt3BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt4SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt5BOARD MEMBER
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1SENT TO MANAGER FOR REVIEW AND SIGNATURE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2MONITOR PERIODICALLY TO ENSURE COMPLIANCE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3PROVIDES COPIES UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt07332876
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt06932519
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
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IRS990/USAddress/CityNm0ASHEVILLE
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd028801
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0WWW.ARCADECU.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02021-04-22 16:20:28Z
ReturnHeader/BusinessOfficerGrp/PersonNm0CHARLENE HYATT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0MANAGER/ TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum08282541582
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-05-08
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ARCADE CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0ARCA
ReturnHeader/Filer/EIN0560580539
ReturnHeader/Filer/PhoneNum08282541582
ReturnHeader/Filer/USAddress/AddressLine1Txt0151 PATTON AVENUE
ReturnHeader/Filer/USAddress/CityNm0ASHEVILLE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd028801
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId08A5EF587CFE71028FDEAE561BA42261A23FBE972
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId034C51C3261704471D409D11DAE3CFA7FFB2472B8
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0206.74.13.32
ReturnHeader/FilingSecurityInformation/IPDt02020-05-14
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm014:02:44
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0570568919
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CANTEY TILLER PIERCE & GREEN LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 862
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CAMDEN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0SC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd029021
ReturnHeader/PreparerPersonGrp/PhoneNum08034321436
ReturnHeader/PreparerPersonGrp/PreparationDt02020-05-08
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JANET M PIERCE
ReturnHeader/ReturnTs02020-05-14T14:02:44-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$6,932,519
Liabilities
$6,033,752
Net assets
$898,767
Revenue
$290,360
Expenses
$283,173
Net income
$7,187
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$8.21$7.17$1.04$0.44$0.36$0.08
2023Detailed filing. Detailed filing data is available for this year.$7.96$7.00$0.96$0.38$0.29$0.09
2022Detailed filing. Detailed filing data is available for this year.$7.56$6.69$0.87$0.25$0.26$0.00
2021Detailed filing. Detailed filing data is available for this year.$7.60$6.73$0.87$0.22$0.22$0.00
2020Detailed filing. Detailed filing data is available for this year.$7.01$6.13$0.88$0.25$0.27$0.02
2019Detailed filing. Detailed filing data is available for this year.$6.93$6.03$0.90$0.29$0.28$0.01
2018Detailed filing. Detailed filing data is available for this year.$7.33$6.44$0.89$0.27$0.27$0.00
2017Detailed filing. Detailed filing data is available for this year.$7.83$6.94$0.89$0.25$0.25$0.00
2016Detailed filing. Detailed filing data is available for this year.$6.99$6.09$0.90$0.24$0.29$0.06
2015Detailed filing. Detailed filing data is available for this year.$6.97$6.02$0.95$0.23$0.23$0.00
2014Detailed filing. Detailed filing data is available for this year.$6.98$6.03$0.95$0.23$0.27$0.04
2013Summary only. Only limited summary data is available for this year.$6.93$5.93$1.00$0.25$0.44$0.19
2012Summary only. Only limited summary data is available for this year.$7.22$6.03$1.19$0.28$0.28$0.00
2011Summary only. Only limited summary data is available for this year.$7.04$5.86$1.19$0.30$0.30$0.00