Civic Intelligence

Spc Cooperative Credit Union

990 • Fiscal year 2013 • EIN 57-6020340

Jan 01, 2013 to Dec 31, 2013 • Filed on Jul 25, 2014

PO Box 135529551

(843) 383-0090

Siviq Scores

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

Liabilities / Assets

68th percentile

0.91x

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

2013 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2013

Liabilities / Revenue

18th percentile

13.61x

Higher debt load relative to revenue than 18% of similar nonprofits.

2013 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2013

Net Margin

28th percentile

5.6%

Higher net margin than 28% of similar nonprofits.

2013 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2013

Top Officer Pay

21st percentile

$142,328

Higher top officer pay than 21% of similar nonprofits.

Top officer pay equals 1.7% of source-year revenue.

2013 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2013

Asset Growth

59th percentile

3.5%

Faster asset growth than 59% of similar nonprofits.

2013 filings • 501(c)14 • $100M-$250M nonprofits • Annualized from 2012 to 2013

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2013

Assets

Up

$126,086,116

Up $4,292,139 (+3.5%) from 2012

Net Assets

Up

$11,452,126

Up $76,301 (+0.7%) from 2012

Liabilities

Up

$114,633,990

Up $4,215,838 (+3.8%) from 2012

Revenue

$8,422,695

No earlier filing loaded for comparison.

Expenses

Up

$7,953,294

Up $10,036 (+0.1%) from 2012

Net Income

$469,401

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.

$300M$200M$100M$0Assets 2010: $108,676,738Liabilities 2010: $97,699,517Net Assets 2010: $10,977,2212010Assets 2011: $116,466,517Liabilities 2011: $105,112,028Net Assets 2011: $11,354,4892011Assets 2012: $121,793,977Liabilities 2012: $110,418,152Net Assets 2012: $11,375,8252012Assets 2013: $126,086,116Liabilities 2013: $114,633,990Net Assets 2013: $11,452,1262013Assets 2014: $133,607,014Liabilities 2014: $122,488,189Net Assets 2014: $11,118,8252014Assets 2015: $144,661,279Liabilities 2015: $133,812,425Net Assets 2015: $10,848,8542015Assets 2016: $151,079,504Liabilities 2016: $139,641,481Net Assets 2016: $11,438,0232016Assets 2017: $158,134,943Liabilities 2017: $146,057,391Net Assets 2017: $12,077,5522017Assets 2018: $160,522,294Liabilities 2018: $148,349,395Net Assets 2018: $12,172,8992018Assets 2019: $164,592,799Liabilities 2019: $150,629,286Net Assets 2019: $13,963,5132019Assets 2020: $207,674,821Liabilities 2020: $193,450,024Net Assets 2020: $14,224,7972020Assets 2021: $231,524,692Liabilities 2021: $215,850,625Net Assets 2021: $15,674,0672021Assets 2022: $243,239,953Liabilities 2022: $226,517,822Net Assets 2022: $16,722,1312022Assets 2023: $239,331,326Liabilities 2023: $221,525,105Net Assets 2023: $17,806,2212023Assets 2024: $240,682,854Liabilities 2024: $216,791,916Net Assets 2024: $23,890,9382024

Highlighted filing

2013

Assets$126,086,116
Liabilities$114,633,990
Net Assets$11,452,126

Operations Trend

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

$20M$15M$10M$5.0M$0Expenses 2010: $7,980,4362010Expenses 2011: $7,879,8042011Expenses 2012: $7,943,2582012Revenue 2013: $8,422,695Expenses 2013: $7,953,294Net Income 2013: $469,4012013Revenue 2014: $8,263,881Expenses 2014: $8,001,526Net Income 2014: $262,3552014Revenue 2015: $8,858,356Expenses 2015: $8,431,121Net Income 2015: $427,2352015Revenue 2016: $9,087,478Expenses 2016: $8,788,749Net Income 2016: $298,7292016Revenue 2017: $9,434,038Expenses 2017: $8,791,817Net Income 2017: $642,2212017Revenue 2018: $10,397,338Expenses 2018: $9,079,396Net Income 2018: $1,317,9422018Revenue 2019: $11,666,247Expenses 2019: $10,088,717Net Income 2019: $1,577,5302019Revenue 2020: $11,834,754Expenses 2020: $10,680,783Net Income 2020: $1,153,9712020Revenue 2021: $12,295,768Expenses 2021: $11,162,816Net Income 2021: $1,132,9522021Revenue 2022: $13,550,656Expenses 2022: $11,601,765Net Income 2022: $1,948,8912022Revenue 2023: $15,750,567Expenses 2023: $14,168,156Net Income 2023: $1,582,4112023Revenue 2024: $19,796,776Expenses 2024: $15,619,814Net Income 2024: $4,176,9622024

Highlighted filing

2013

Revenue$8,422,695
Expenses$7,953,294
Net Income$469,401
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Jul 25, 2014
Return Version
2013v3.1
Gross Receipts
$8,422,695
Mission and Program Overview

Mission

State chartered credit union

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$77,265,147$78,917,167▲ $1,652,020
Investments in Publicly Traded Securities$22,268,628$21,775,670▼ $492,958
Rtn Earn Endowment Incm Other Fnds$11,375,825$11,452,126▲ $76,301
Cash and Non-Interest-Bearing Accounts$10,202,057$9,772,877▼ $429,180
Savings and Temporary Cash Investments$6,297,541$6,928,125▲ $630,584
Land, Buildings, and Equipment, Net$3,839,883$3,824,513▼ $15,370
Total Assets$121,793,977$126,086,116▲ $4,292,139
Other Assets Total$1,920,721$4,867,764▲ $2,947,043
Liabilities
Other Liabilities$108,397,657$112,746,463▲ $4,348,806
Accounts Payable and Accrued Expenses$1,857,462$1,724,373▼ $133,089
Escrow Account Liability$163,033$163,154▲ $121
Total Liabilities$110,418,152$114,633,990▲ $4,215,838
Net Assets / Fund Balance
Total Net Assets Fund Balance$11,375,825$11,452,126▲ $76,301
Total Liabilities and Net Assets / Fund Balance$121,793,977$126,086,116▲ $4,292,139

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,722,808$3,316,841$5,039,649
Equipment$753,122$3,460,295$4,213,417
Land$1,228,339-$1,228,339
Other Land Buildings$120,244-$120,244
Compensation and Service Providers

Employees

NameTitleBaseTotal
Bill VarnPresident/ce$142,328$142,328

Board Members and Trustees

NameTitle
Travis WaltersChairman
Frank BensonVice Chairma
Helen SherrillBoard Member
Mark BurnsBoard Member
Pansy HowellBoard Member
Sylvester WilsonBoard Member
Jimmy ShellySecretary/tr
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$8,111,385
Investment Income
$311,310
Other Revenue
$0
Change in Net Assets
$469,401

Audited Revenue Reconciliation

Revenue per Audited Statements
$8,422,695
Total Revenue per Audited Statements
$8,422,695
Total Revenue per Form 990
$8,422,695
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,326,474
Salaries, Compensation, and Employee Benefits$3,626,820
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$2,577,783
Office Expenses---$955,667
Other Employee Benefits---$480,003
Depreciation Depletion---$416,198
Interest---$332,806
Occupancy---$280,037
Pension Plan Contributions---$224,807
Payroll Taxes---$201,899
Advertising---$175,661
Current Officers, Directors, Trustees, and Key Employees---$142,328
Conferences and Meetings---$111,161
Insurance---$70,945
Fees for Services Accounting---$68,884
Fees for Service Investment Mgmnt Fees---$22,707
Fees for Services Legal---$15,977
Other Expenses---$6,840
Total Functional Expenses$0$0$0$7,953,294

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$7,953,294
Total Expenses per Audited Statements$7,953,294
Total Expenses per Form 990$7,953,294
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
Shares$112,746,463
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 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
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

Spc cooperative credit union's field of membership includes anyone who lives, works or attends school in darlington, florence or marlboro counties. Spc also serves employee groups in the hartsville, darlington and bennettsville area, as well as the employees of sonoco products company and its affiliates throughout the united states. In addition, any person related by blood or marriage to a current spc member, regardless of employment or residence, may join the credit union.

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

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

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

The policy is reviewed and updated annually to ensure compliance.

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

The compensation committee along with the board of directors approve the ceo's, vice president's and the cfo's salaries.

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

Employees are given evaluations before they receive salary increases. These increases are approved by the compensation committee and the board of directors.

Form 990, Page 6, Part VI, Line 19

Governing documents are available to the public upon request. Persons may come into one of 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

EIN
57-6020340
Phone
8433830090

Signing Officer

Name
Billy Byrd
Title
CFO
Phone
8433830090
Signed
2014-07-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Billy Byrd
Formed
1961
Legal Domicile
Sc
Voting Board Members
7
Independent Board Members
7
Employees
71
Volunteers
10

Preparer

Preparer
Janet M Pierce
Phone
8034321436
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

Other comprehensive income 774,769 change in gain (loss) in pension plan 1,167,869

Financial Statement Notes

Schedule D, Page 2, Part IV, Line 2B

The credit union holds escrow accounts for first mortgages (third party and in-house). The credit union pays for the service.

Raw XML Appendix350 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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IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt01228339
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0120244
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0120244
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0112746463
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SHARES
IRS990ScheduleD/RevenueSubtotalAmt08422695
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CREDIT UNION HOLDS ESCROW ACCOUNTS FOR FIRST MORTGAGES (THIRD PARTY AND IN-HOUSE). THE CREDIT UNION PAYS FOR THE SERVICE.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 2, PART IV, LINE 2B
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03824513
IRS990ScheduleD/TotalExpensesPerForm990Amt07953294
IRS990ScheduleD/TotalLiabilityAmt0112746463
IRS990ScheduleD/TotalRevenuePerForm990Amt08422695
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt08422695
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt07953294
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0SPC COOPERATIVE CREDIT UNION'S FIELD OF MEMBERSHIP INCLUDES ANYONE WHO LIVES, WORKS OR ATTENDS SCHOOL IN DARLINGTON, FLORENCE OR MARLBORO COUNTIES. SPC ALSO SERVES EMPLOYEE GROUPS IN THE HARTSVILLE, DARLINGTON AND BENNETTSVILLE AREA, AS WELL AS THE EMPLOYEES OF SONOCO PRODUCTS COMPANY AND ITS AFFILIATES THROUGHOUT THE UNITED STATES. IN ADDITION, ANY PERSON RELATED BY BLOOD OR MARRIAGE TO A CURRENT SPC MEMBER, REGARDLESS OF EMPLOYMENT OR RESIDENCE, MAY JOIN THE CREDIT UNION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1AT THE CREDIT UNION'S ANNUAL MEETINGS, THE MEMBERSHIP ELECTS THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION REVIEWS THE FORM 990 TO ENSURE THAT THERE ARE NO OMISSIONS OR MISSTATEMENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE POLICY IS REVIEWED AND UPDATED ANNUALLY TO ENSURE COMPLIANCE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE COMPENSATION COMMITTEE ALONG WITH THE BOARD OF DIRECTORS APPROVE THE CEO'S, VICE PRESIDENT'S AND THE CFO'S SALARIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5EMPLOYEES ARE GIVEN EVALUATIONS BEFORE THEY RECEIVE SALARY INCREASES. THESE INCREASES ARE APPROVED BY THE COMPENSATION COMMITTEE AND THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6GOVERNING DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. PERSONS MAY COME INTO ONE OF 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/ExplanationTxt7OTHER COMPREHENSIVE INCOME 774,769 CHANGE IN GAIN (LOSS) IN PENSION PLAN 1,167,869
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART XI, LINE 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0121793977
IRS990/TotalAssetsEOYAmt0126086116
IRS990/TotalAssetsGrp/BOYAmt0121793977
IRS990/TotalAssetsGrp/EOYAmt0126086116
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt071
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt07953294
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0110418152
IRS990/TotalLiabilitiesEOYAmt0114633990
IRS990/TotalLiabilitiesGrp/BOYAmt0110418152
IRS990/TotalLiabilitiesGrp/EOYAmt0114633990
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt011375825
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt011452126
IRS990/TotalProgramServiceExpensesAmt07953294
IRS990/TotalProgramServiceRevenueAmt08111385
IRS990/TotalReportableCompFromOrgAmt0142328
IRS990/TotalRevenueGrp/ExclusionAmt0311310
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt08111385
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt08422695
IRS990/TotalVolunteersCnt010
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0121793977
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0126086116
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine10PO BOX 1355
IRS990/USAddress/City0HARTSVILLE
IRS990/USAddress/State0SC
IRS990/USAddress/ZIPCode029551
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0WWW.SPCCU.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02015-11-30 17:44:51Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0BILLY BYRD
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CFO
ReturnHeader/BusinessOfficerGrp/PhoneNum08433830090
ReturnHeader/BusinessOfficerGrp/SignatureDt02014-07-25
ReturnHeader/Filer/BusinessName/BusinessNameLine10SPC COOPERATIVE CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0SPCC
ReturnHeader/Filer/EIN0576020340
ReturnHeader/Filer/PhoneNum08433830090
ReturnHeader/Filer/USAddress/AddressLine10PO BOX 1355
ReturnHeader/Filer/USAddress/City0HARTSVILLE
ReturnHeader/Filer/USAddress/State0SC
ReturnHeader/Filer/USAddress/ZIPCode029551
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10CANTEY TILLER PIERCE & GREEN LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine10PO BOX 862
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0CAMDEN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0SC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode029021
ReturnHeader/PreparerPersonGrp/PhoneNum08034321436
ReturnHeader/PreparerPersonGrp/PreparationDt02014-08-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JANET M PIERCE
ReturnHeader/ReturnTs02014-08-15T09:24:58-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-01-01
ReturnHeader/TaxPeriodEndDt02013-12-31
ReturnHeader/TaxYr02013

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$241$217$23.9$19.8$15.6$4.18
2023Detailed filing. Detailed filing data is available for this year.$239$222$17.8$15.8$14.2$1.58
2022Detailed filing. Detailed filing data is available for this year.$243$227$16.7$13.6$11.6$1.95
2021Detailed filing. Detailed filing data is available for this year.$232$216$15.7$12.3$11.2$1.13
2020Detailed filing. Detailed filing data is available for this year.$208$193$14.2$11.8$10.7$1.15
2019Detailed filing. Detailed filing data is available for this year.$165$151$14.0$11.7$10.1$1.58
2018Detailed filing. Detailed filing data is available for this year.$161$148$12.2$10.4$9.08$1.32
2017Detailed filing. Detailed filing data is available for this year.$158$146$12.1$9.43$8.79$0.64
2016Detailed filing. Detailed filing data is available for this year.$151$140$11.4$9.09$8.79$0.30
2015Detailed filing. Detailed filing data is available for this year.$145$134$10.8$8.86$8.43$0.43
2014Detailed filing. Detailed filing data is available for this year.$134$122$11.1$8.26$8.00$0.26
2013Detailed filing. Detailed filing data is available for this year.$126$115$11.5$8.42$7.95$0.47
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$122$110$11.4$7.94
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$116$105$11.4$7.88
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$109$97.7$11.0$7.98
Peer Organizations

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