Civic Intelligence

State Chartered Credit Unions in North Carolina

990 • Fiscal year 2019 • EIN 56-0602721

Jan 01, 2019 to Dec 31, 2019 • Filed on May 15, 2020

3601 Mulberry Church RoadCharlotte, NC 28208

(704) 392-3418

Siviq Scores

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

Liabilities / Assets

13th percentile

0.82x

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

2019 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2019

Liabilities / Revenue

10th percentile

11.33x

Higher debt load relative to revenue than 10% of similar nonprofits.

2019 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2019

Net Margin

4th percentile

1.1%

Higher net margin than 4% of similar nonprofits.

2019 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2019

Top Officer Pay

16th percentile

$149,230

Higher top officer pay than 16% of similar nonprofits.

Top officer pay equals 1.9% of source-year revenue.

2019 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2019

Asset Growth

8th percentile

-1.3%

Faster asset growth than 8% of similar nonprofits.

2019 filings • 501(c)14 • $100M-$250M nonprofits • Annualized from 2018 to 2019

Revenue Growth

3rd percentile

-2.7%

Faster revenue growth than 3% of similar nonprofits.

2019 filings • 501(c)14 • $100M-$250M nonprofits • Annualized from 2018 to 2019

Assets

Down

$106,297,179

Down $1,448,131 (-1.3%) from 2018

Net Assets

Up

$18,953,538

Up $991,170 (+5.5%) from 2018

Liabilities

Down

$87,343,641

Down $2,439,301 (-2.7%) from 2018

Revenue

Down

$7,707,216

Down $216,608 (-2.7%) from 2018

Expenses

Up

$7,625,366

Up $80,161 (+1.1%) from 2018

Net Income

Down

$81,850

Down $296,769 (-78%) from 2018

Historical Trend

Balance Sheet Trend

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

$150M$100M$50M$0Assets 2010: $78,418,096Liabilities 2010: $68,262,816Net Assets 2010: $10,155,2802010Assets 2011: $78,064,757Liabilities 2011: $67,219,212Net Assets 2011: $10,845,5452011Assets 2012: $81,399,858Liabilities 2012: $70,377,045Net Assets 2012: $11,022,8132012Assets 2013: $83,445,814Liabilities 2013: $72,880,503Net Assets 2013: $10,565,3112013Assets 2014: $86,190,228Liabilities 2014: $75,330,243Net Assets 2014: $10,859,9852014Assets 2015: $85,791,596Liabilities 2015: $74,880,218Net Assets 2015: $10,911,3782015Assets 2016: $114,767,268Liabilities 2016: $97,527,713Net Assets 2016: $17,239,5552016Assets 2017: $111,964,445Liabilities 2017: $94,112,126Net Assets 2017: $17,852,3192017Assets 2018: $107,745,310Liabilities 2018: $89,782,942Net Assets 2018: $17,962,3682018Assets 2019: $106,297,179Liabilities 2019: $87,343,641Net Assets 2019: $18,953,5382019Assets 2020: $120,071,180Liabilities 2020: $101,392,406Net Assets 2020: $18,678,7742020Assets 2021: $129,418,151Liabilities 2021: $110,430,010Net Assets 2021: $18,988,1412021Assets 2022: $124,030,891Liabilities 2022: $107,238,601Net Assets 2022: $16,792,2902022Assets 2023: $120,556,862Liabilities 2023: $103,422,382Net Assets 2023: $17,134,4802023

Highlighted filing

2019

Assets$106,297,179
Liabilities$87,343,641
Net Assets$18,953,538

Operations Trend

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

$10M$5.0M$0-$5.0MExpenses 2010: $5,234,6832010Expenses 2011: $5,069,8592011Expenses 2012: $4,662,3322012Revenue 2013: $4,867,523Expenses 2013: $4,671,656Net Income 2013: $195,8672013Revenue 2014: $4,968,257Expenses 2014: $4,784,257Net Income 2014: $184,0002014Revenue 2015: $4,866,771Expenses 2015: $4,805,456Net Income 2015: $61,3152015Revenue 2016: $7,669,862Expenses 2016: $7,293,136Net Income 2016: $376,7262016Revenue 2017: $7,872,644Expenses 2017: $7,225,440Net Income 2017: $647,2042017Revenue 2018: $7,923,824Expenses 2018: $7,545,205Net Income 2018: $378,6192018Revenue 2019: $7,707,216Expenses 2019: $7,625,366Net Income 2019: $81,8502019Revenue 2020: $6,983,179Expenses 2020: $7,886,341Net Income 2020: -$903,1622020Revenue 2021: $7,509,180Expenses 2021: $6,501,332Net Income 2021: $1,007,8482021Revenue 2022: $7,093,444Expenses 2022: $5,913,646Net Income 2022: $1,179,7982022Revenue 2023: $7,295,637Expenses 2023: $7,115,677Net Income 2023: $179,9602023

Highlighted filing

2019

Revenue$7,707,216
Expenses$7,625,366
Net Income$81,850
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
May 15, 2020
Return Version
2019v5.0
Gross Receipts
$7,707,216
Mission and Program Overview

Mission

LOANS TO MEMBERS

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$62,675,527$58,988,256▼ $3,687,271
Investments Program Related$23,275,325$23,132,791▼ $142,534
Savings and Temporary Cash Investments$8,930,012$11,785,493▲ $2,855,481
Land, Buildings, and Equipment, Net$5,183,786$5,013,606▼ $170,180
Cash and Non-Interest-Bearing Accounts$3,098,999$2,739,473▼ $359,526
Prepaid Expenses and Deferred Charges$216,387$271,570▲ $55,183
Total Assets$107,745,310$106,297,179▼ $1,448,131
Other Assets Total$4,365,274$4,365,990▲ $716
Liabilities
Other Liabilities$89,290,074$87,286,430▼ $2,003,644
Accounts Payable and Accrued Expenses$492,868$57,211▼ $435,657
Total Liabilities$89,782,942$87,343,641▼ $2,439,301
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$17,962,368$18,953,538▲ $991,170
Total Net Assets Fund Balance$17,962,368$18,953,538▲ $991,170
Total Liabilities and Net Assets / Fund Balance$107,745,310$106,297,179▼ $1,448,131

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,661,818$3,676,943$6,338,761
Equipment$117,589$2,192,139$2,309,728
Land$2,234,199-$2,234,199
Other Land Buildings-$678,083$678,083
Investment Program Related Org$3,138,743--
Compensation and Service Providers

Employees

NameTitleBaseTotal
Joy WattsPresident/ C$149,230$149,230

Board Members and Trustees

NameTitle
Phillip KridelChairman
John GeterVice Chairma
Huyla JacksonDirector
Kim BoggansDirector
Lori KawulokDirector
Rita EllisonDirector
Roy MontagueDirector
Lola BumbargerSecretary
Diane RichTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$6,943,371
Investment Income
$763,845
Other Revenue
$0
Change in Net Assets
$81,850
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,636,112
Salaries, Compensation, and Employee Benefits$2,989,254
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,690,329$298,925-$2,989,254
Office Expenses$786,207--$786,207
Occupancy$512,529--$512,529
Advertising$373,567--$373,567
Interest$244,552--$244,552
Conferences and Meetings$95,288--$95,288
Other Expenses$67,501$97,149-$67,501
Total Functional Expenses$7,229,292$396,074$0$7,625,366
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 Shares$87,286,430
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
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
Yes
Other officer compensation reviewed
Yes
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, Page 6, Part VI, Line 6

MEMBERS

Form 990, Page 6, Part VI, Line 7A

At the credit union's annual meeting, the membership elects the board of directors

Form 990, Page 6, Part VI, Line 7B

Board of directors and supervisory committee member are selected by the members of the credit union.

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

The organization reviews the form 990 to ensure that there are no omissions or misstatements.

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

New conflict of interest agreements are signed annually. Employee handbooks cover conflict of interest policies and procedures.

Form 990, Page 6, Part VI, Line 15A

The board of directors approves the president's annual salary.

Form 990, Page 6, Part VI, Line 15B

The president approves salaries for employees.

Form 990, Page 6, Part VI, Line 19

Governing documents are available to the public upon request. Persons may cvome into the credit union's branches and request a copy of any of our governing documents. Some documents are posted in the branch lobbies.

Filing and Contact Details

Filer

Filer Name
Nova Credit Union
EIN
56-0602721
Phone
7043923418
Address
3601 MULBERRY CHURCH ROAD, CHARLOTTE, NC 28208

Signing Officer

Name
Joy Watts
Title
President/ CEO
Phone
7043923418
Signed
2020-05-15

Organization Details

Principal Officer
Joy Watts
Formed
1934
Legal Domicile
Nc
Voting Board Members
9
Independent Board Members
9
Employees
71

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 Appendix362 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/TitleTxt3DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
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IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt23138743
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0INVESTMENTS 1-3 YEARS
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc1INVESTMENTS 3-5 YEARS
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc2INVESTMENTS 5-10 YEARS
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd1C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd2C
IRS990ScheduleD/LandGrp/BookValueAmt02234199
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt02234199
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0678083
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0678083
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt087286430
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MEMBER SHARES
IRS990ScheduleD/TotalBookValueLandBuildingsAmt05013606
IRS990ScheduleD/TotalBookValueProgramRltdAmt023132791
IRS990ScheduleD/TotalLiabilityAmt087286430
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DURING 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MEMBERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2AT THE CREDIT UNION'S ANNUAL MEETING, THE MEMBERSHIP ELECTS THE BOARD OF DIRECTORS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3BOARD OF DIRECTORS AND SUPERVISORY COMMITTEE MEMBER ARE SELECTED BY THE MEMBERS OF THE CREDIT UNION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION REVIEWS THE FORM 990 TO ENSURE THAT THERE ARE NO OMISSIONS OR MISSTATEMENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5NEW CONFLICT OF INTEREST AGREEMENTS ARE SIGNED ANNUALLY. EMPLOYEE HANDBOOKS COVER CONFLICT OF INTEREST POLICIES AND PROCEDURES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE BOARD OF DIRECTORS APPROVES THE PRESIDENT'S ANNUAL SALARY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE PRESIDENT APPROVES SALARIES FOR EMPLOYEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8GOVERNING DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. PERSONS MAY CVOME INTO THE CREDIT UNION'S BRANCHES AND REQUEST A COPY OF ANY OF OUR GOVERNING DOCUMENTS. SOME DOCUMENTS ARE POSTED IN THE BRANCH LOBBIES.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0107745310
IRS990/TotalAssetsEOYAmt0106297179
IRS990/TotalAssetsGrp/BOYAmt0107745310
IRS990/TotalAssetsGrp/EOYAmt0106297179
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt071
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0396074
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt07229292
IRS990/TotalFunctionalExpensesGrp/TotalAmt07625366
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt089782942
IRS990/TotalLiabilitiesEOYAmt087343641
IRS990/TotalLiabilitiesGrp/BOYAmt089782942
IRS990/TotalLiabilitiesGrp/EOYAmt087343641
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt017962368
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt018953538
IRS990/TotalProgramServiceRevenueAmt06943371
IRS990/TotalReportableCompFromOrgAmt0149230
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt07707216
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt07707216
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0107745310
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0106297179
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt07213 BERKSHIRE COURT
IRS990/USAddress/CityNm0DENVER
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd028037
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0WWW.CPCUONLINE.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02020-09-23 17:36:50Z
ReturnHeader/BusinessOfficerGrp/PersonNm0JOY WATTS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT/ CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum07043923418
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-05-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0NOVA CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0NOVA
ReturnHeader/Filer/EIN0560602721
ReturnHeader/Filer/PhoneNum07043923418
ReturnHeader/Filer/USAddress/AddressLine1Txt03601 MULBERRY CHURCH ROAD
ReturnHeader/Filer/USAddress/CityNm0CHARLOTTE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd028208
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId08A5EF587CFE71028FDEAE561BA42261A23FBE972
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId034C51C3261704471D409D11DAE3CFA7FFB2472B8
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0206.74.13.32
ReturnHeader/FilingSecurityInformation/IPDt02020-05-19
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm010:42:03
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/PreparationDt02020-05-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JANET M PIERCE
ReturnHeader/ReturnTs02020-05-19T10:42:03-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$121$103$17.1$7.30$7.12$0.18
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$124$107$16.8$7.09$5.91$1.18
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$129$110$19.0$7.51$6.50$1.01
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$120$101$18.7$6.98$7.89$0.90
2019Detailed filing. Detailed filing data is available for this year.$106$87.3$19.0$7.71$7.63$0.08
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$108$89.8$18.0$7.92$7.55$0.38
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$112$94.1$17.9$7.87$7.23$0.65
2016Summary only. Only limited summary data is available for this year.$115$97.5$17.2$7.67$7.29$0.38
2015Detailed filing. Detailed filing data is available for this year.$85.8$74.9$10.9$4.87$4.81$0.06
2014Detailed filing. Detailed filing data is available for this year.$86.2$75.3$10.9$4.97$4.78$0.18
2013Detailed filing. Detailed filing data is available for this year.$83.4$72.9$10.6$4.87$4.67$0.20
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$81.4$70.4$11.0$4.66
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$78.1$67.2$10.8$5.07
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$78.4$68.3$10.2$5.23