Civic Intelligence

Friends First Credit Union

EIN 61-0860841 • 501(c)14 • Owensboro, KY

View Organization Page

Profile

Provide financial services and products to members.

922 Triplett St Ste 1Owensboro, KY 42303

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on the latest valid filing.

Source year 2018

Liabilities / Revenue

95th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)14 • <$500k nonprofits • Source year 2018

Net Margin

44th percentile

-91%

Higher net margin than 44% of similar nonprofits.

501(c)14 • <$500k nonprofits • Source year 2018

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

95th percentile

-100%

Faster asset growth than 95% of similar nonprofits.

501(c)14 • <$500k nonprofits • Annualized from 2016 to 2018

Revenue Growth

34th percentile

-64%

Faster revenue growth than 34% of similar nonprofits.

501(c)14 • <$500k nonprofits • Annualized from 2016 to 2018

Balance Sheet
Liabilities / AssetsScore unavailable

Assets

Down

$0

Down $5,592,578 (-100%) from 2016

Liabilities

Down

$0

Down $5,193,988 (-100%) from 2016

Net Assets

Down

$0

Down $398,590 (-100%) from 2016

Operations
Liabilities / Revenue95th percentileNet Margin44th percentile

Revenue

Down

$45,768

Down $301,964 (-87%) from 2016

Expenses

Down

$87,269

Down $243,929 (-74%) from 2016

Net Income

Down

-$41,501

Down $58,035 (-351%) from 2016

Trend Graphs

Balance Sheet Trend

Asset Growth95th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$6.0M$4.0M$2.0M$0Assets 2014: $5,542,011Liabilities 2014: $5,175,292Net Assets 2014: $366,7192014Assets 2015: $5,809,153Liabilities 2015: $5,427,097Net Assets 2015: $382,0562015Assets 2016: $5,592,578Liabilities 2016: $5,193,988Net Assets 2016: $398,5902016Assets 2018: $0Liabilities 2018: $0Net Assets 2018: $02018

Highlighted filing

2018

Assets$0
Liabilities$0
Net Assets$0
Open 2018 Filing

Operations Trend

Revenue Growth34th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$600K$400K$200K$0-$200KRevenue 2014: $382,661Expenses 2014: $418,017Net Income 2014: -$35,3562014Revenue 2015: $374,270Expenses 2015: $358,933Net Income 2015: $15,3372015Revenue 2016: $347,732Expenses 2016: $331,198Net Income 2016: $16,5342016Revenue 2018: $45,768Expenses 2018: $87,269Net Income 2018: -$41,5012018

Highlighted filing

2018

Revenue$45,768
Expenses$87,269
Net Income-$41,501
Open 2018 Filing

Filings

Most recent year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$0
Liabilities
$0
Net assets
$0
Revenue
$45,768
Expenses
$87,269
Net income
-$41,501
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2018Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.05$0.09$0.04
2016Detailed filing. Detailed filing data is available for this year.$5.59$5.19$0.40$0.35$0.33$0.02
2015Detailed filing. Detailed filing data is available for this year.$5.81$5.43$0.38$0.37$0.36$0.02
2014Detailed filing. Detailed filing data is available for this year.$5.54$5.18$0.37$0.38$0.42$0.04
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Mar 31, 2018
Signed
May 13, 2019
Return Version
2018v3.1
Gross Receipts
$45,768
Mission and Program Overview

Mission

Provide financial services and products to members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$2,960,841$0▼ $2,960,841
Other Notes and Loans Receivable, Net$2,299,345$0▼ $2,299,345
Rtn Earn Endowment Incm Other Fnds$378,090--
Land, Buildings, and Equipment, Net$157,402$0▼ $157,402
Cash and Non-Interest-Bearing Accounts$79,296$0▼ $79,296
Prepaid Expenses and Deferred Charges$2,860$0▼ $2,860
Accounts Receivable-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$5,559,268$0▼ $5,559,268
Other Assets Total$59,524$0▼ $59,524
Liabilities
Other Liabilities$5,173,075--
Accounts Payable and Accrued Expenses$8,103--
Total Liabilities$5,181,178$0▼ $5,181,178
Net Assets / Fund Balance
Total Net Assets Fund Balance$378,090$0▼ $378,090
Total Liabilities and Net Assets / Fund Balance$5,559,268$0▼ $5,559,268
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Kenneth AndersonChairperson
Delsa LasterVice Chairman
Joe BarlowDirector
Cynthia ShanksCEO
Rhonda PierceSecretary
Dennis ClarkTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$41,421
Investment Income
$4,347
Other Revenue
$0
Change in Net Assets
$-41,501
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$60,210
Salaries, Compensation, and Employee Benefits$27,059
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Office Expenses---$45,216
Other Salaries and Wages---$24,730
Fees for Services Other---$8,509
Depreciation Depletion---$2,771
Occupancy---$2,382
Payroll Taxes---$2,025
Insurance---$1,840
Interest---$481
Other Expenses---$388
Pension Plan Contributions---$304
Travel---$41
All Other Expenses---$-2,685
Total Functional Expenses$0$0$0$87,269
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder

“Section 501(c)(14) Credit Union is composed of members.”

Form 990, Part VI, Line 7A: How Members or Shareholders Elect Governing Body

“Members vote on bylaw and charter changes. Members vote and elect Board members at annual meeting.”

Form 990, Part VI, Line 7B: Describe Decisions of Governing Body Approval by Members or Shareholders

“Mergers are voted on by entire membership.”

Form 990, Part VI, Line 11B: Form 990 Review Process

“Management reviews tax returns and forwards US Form 8879-EO to tax preparer. Board reviews filed tax returns at next scheduled meeting.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“Employee loans are Management approved. Management loans are Board approved. Loans to Board members are approved by the Board minus the lendee.”

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

“Executive and employee salaries are Board reviewed and approved. Board of directors are not compensated.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Credit union bylaws and conflict of interest policy are available upon request at the credit union's main office. Quarterly financial statements are displayed in the lobby which is accessible to the general public. Quarterly financial performance (Call) reports are also available at www.ncua.gov for all federally insured credit unions.”

Filing and Contact Details

Filer

Filer Name
Friends First Credit Union
EIN
61-0860841
Phone
2706841829
Address
922 Triplett St Ste 1, Owensboro, KY 42303

Signing Officer

Name
Cynthia Shanks
Title
CEO
Signed
2019-05-13
Discuss with paid preparer
Yes

Organization Details

Formed
1974
Legal Domicile
Ky
Voting Board Members
5
Independent Board Members
5
Employees
3
Volunteers
8

Preparer

Firm
Financial Standards Group Inc
Address
6447 W HIGHWAY 146, CRESTWOOD, KY 40014
Preparer
Robert Draeger
Phone
8005225820
Supplemental Narrative

Additional Explanations

Other Changes In Net Assets Or Fund Balances - Other Decreases

“Green River Area FCU = -$256990”

Other Changes In Net Assets Or Fund Balances - Other Decreases

“Write-down of assets to market value = -$79599”

Raw XML Appendix384 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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IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt0Independent Eval
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt03000 Highway 144
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm0OWENSBORO
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/StateAbbreviationCd0KY
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd0423030215
IRS990ScheduleN/OwnerOfSuccessorInd0false
IRS990ScheduleN/ReceiveCompensationInd0false
IRS990ScheduleN/RequiredToNotifyAGInd0false
IRS990ScheduleN/SupplementalInformationDetail/ExplanationTxt0Joe Barlow and Desla Laster became board members of the combined entity after the merger. There were no additional benefits received.
IRS990ScheduleN/SupplementalInformationDetail/FormAndLineReferenceDesc0Part I & 2, Line 2e - Name and Explanation for Involvement in Successor
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Section 501(c)(14) Credit Union is composed of members.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Members vote on bylaw and charter changes. Members vote and elect Board members at annual meeting.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Mergers are voted on by entire membership.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Management reviews tax returns and forwards US Form 8879-EO to tax preparer. Board reviews filed tax returns at next scheduled meeting.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Employee loans are Management approved. Management loans are Board approved. Loans to Board members are approved by the Board minus the lendee.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Executive and employee salaries are Board reviewed and approved. Board of directors are not compensated.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Credit union bylaws and conflict of interest policy are available upon request at the credit union's main office. Quarterly financial statements are displayed in the lobby which is accessible to the general public. Quarterly financial performance (Call) reports are also available at www.ncua.gov for all federally insured credit unions.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7Green River Area FCU = -$256990
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8Write-down of assets to market value = -$79599
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 7a: How Members or Shareholders Elect Governing Body
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 7b: Describe Decisions of Governing Body Approval by Members or Shareholders
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Other Changes In Net Assets Or Fund Balances - Other Decreases
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8Other Changes In Net Assets Or Fund Balances - Other Decreases
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0true
IRS990/TotalAssetsBOYAmt05559268
IRS990/TotalAssetsEOYAmt00
IRS990/TotalAssetsGrp/BOYAmt05559268
IRS990/TotalAssetsGrp/EOYAmt00
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt087269
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt05181178
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt05181178
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0378090
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt00
IRS990/TotalProgramServiceRevenueAmt041421
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt045768
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt045768
IRS990/TotalVolunteersCnt08
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt05559268
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt00
IRS990/TravelGrp/TotalAmt041
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0922 Triplett St Ste 1
IRS990/USAddress/CityNm0Owensboro
IRS990/USAddress/StateAbbreviationCd0KY
IRS990/USAddress/ZIPCd0423033118
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Cynthia Shanks
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-05-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Friends First Credit Union
ReturnHeader/Filer/BusinessNameControlTxt0FRIE
ReturnHeader/Filer/EIN0610860841
ReturnHeader/Filer/PhoneNum02706841829
ReturnHeader/Filer/USAddress/AddressLine1Txt0922 Triplett St Ste 1
ReturnHeader/Filer/USAddress/CityNm0Owensboro
ReturnHeader/Filer/USAddress/StateAbbreviationCd0KY
ReturnHeader/Filer/USAddress/ZIPCd042303
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0650152722
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0FINANCIAL STANDARDS GROUP INC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt06447 W HIGHWAY 146
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CRESTWOOD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0KY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd040014
ReturnHeader/PreparerPersonGrp/PhoneNum08005225820
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Robert Draeger
ReturnHeader/ReturnTs02019-05-13T12:00:46-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-01-01
ReturnHeader/TaxPeriodEndDt02018-03-31
ReturnHeader/TaxYr02018

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