Civic Intelligence

Brassies Credit Union

990 • Fiscal year 2016 • EIN 63-0337435

Jan 01, 2016 to Dec 31, 2016 • Filed on Apr 10, 2017

Organization Profile

View Organization Page

PO Box 1229Anniston, AL 36202

(256) 831-7180

Siviq Scores

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

Liabilities / Assets

42nd percentile

0.84x

Higher debt load relative to assets than 42% of similar nonprofits.

2016 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2016

Liabilities / Revenue

62nd percentile

21.40x

Higher debt load relative to revenue than 62% of similar nonprofits.

2016 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2016

Net Margin

64th percentile

9.0%

Higher net margin than 64% of similar nonprofits.

2016 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2016

Top Officer Pay

56th percentile

$56,100

Higher top officer pay than 56% of similar nonprofits.

Top officer pay equals 27.0% of source-year revenue.

2016 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2016

Asset Growth

21st percentile

-3.3%

Faster asset growth than 21% of similar nonprofits.

2016 filings • 501(c)14 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Revenue Growth

16th percentile

-4.6%

Faster revenue growth than 16% of similar nonprofits.

2016 filings • 501(c)14 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets42nd percentile

Assets

Down

$5,290,580

Down $181,705 (-3.3%) from 2015

Net Assets

Up

$845,891

Up $18,597 (+2.2%) from 2015

Liabilities

Down

$4,444,689

Down $200,302 (-4.3%) from 2015

Revenue And Expenses
Liabilities / Revenue62nd percentileNet Margin64th percentile

Revenue

Down

$207,743

Down $10,035 (-4.6%) from 2015

Expenses

Down

$189,146

Down $17,867 (-8.6%) from 2015

Net Income

Up

$18,597

Up $7,832 (+73%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth21st percentile

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

$10M$5.0M$0Assets 2011: $8,277,743Liabilities 2011: $7,209,027Net Assets 2011: $1,068,7162011Assets 2012: $7,572,514Liabilities 2012: $7,572,514Net Assets 2012: $02012Assets 2013: $7,292,048Liabilities 2013: $6,561,048Net Assets 2013: $731,0002013Assets 2014: $6,079,262Liabilities 2014: $5,262,734Net Assets 2014: $816,5282014Assets 2015: $5,472,285Liabilities 2015: $4,644,991Net Assets 2015: $827,2942015Assets 2016: $5,290,580Liabilities 2016: $4,444,689Net Assets 2016: $845,8912016Assets 2017: $4,455,676Liabilities 2017: $3,662,211Net Assets 2017: $793,4652017Assets 2018: $4,042,758Liabilities 2018: $3,327,570Net Assets 2018: $715,1882018Assets 2019: $3,682,008Liabilities 2019: $3,005,425Net Assets 2019: $676,5832019

Highlighted filing

2016

Assets$5,290,580
Liabilities$4,444,689
Net Assets$845,891
Open 2016 Filing

Operations Trend

Revenue Growth16th percentile

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

$1.0M$500K$0-$500KRevenue 2011: $365,542Expenses 2011: $323,985Net Income 2011: $41,5572011Revenue 2012: $320,578Expenses 2012: $317,203Net Income 2012: $3,3752012Revenue 2013: $280,794Expenses 2013: $577,578Net Income 2013: -$296,7842013Revenue 2014: $218,917Expenses 2014: $133,389Net Income 2014: $85,5282014Revenue 2015: $217,778Expenses 2015: $207,013Net Income 2015: $10,7652015Revenue 2016: $207,743Expenses 2016: $189,146Net Income 2016: $18,5972016Revenue 2017: $213,511Expenses 2017: $265,937Net Income 2017: -$52,4262017Revenue 2018: $199,618Expenses 2018: $277,895Net Income 2018: -$78,2772018Revenue 2019: $201,393Expenses 2019: $239,998Net Income 2019: -$38,6052019

Highlighted filing

2016

Revenue$207,743
Expenses$189,146
Net Income$18,597
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Apr 10, 2017
Return Version
2016v3.0
Gross Receipts
$207,743
Mission and Program Overview

Mission

Credit Union - To provide services for approximately 614 members in the form of loans, checking and savings accounts, and other financial services.

Credit Union - To provide services for approximately 550 members in the form of loans, checking and savings accounts, and other financial services.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$2,246,122$2,107,099▼ $139,023
Investments Other Securities$1,630,000$1,830,000▲ $200,000
Savings and Temporary Cash Investments$1,047,000$750,000▼ $297,000
Cap Stk Tr Prin Current Funds$620,000$620,000→ $0
Cash and Non-Interest-Bearing Accounts$178,544$349,465▲ $170,921
Rtn Earn Endowment Incm Other Fnds$207,294$225,891▲ $18,597
Land, Buildings, and Equipment, Net$182,530$165,657▼ $16,873
Prepaid Expenses and Deferred Charges$112,870$28,747▼ $84,123
Total Assets$5,472,285$5,290,580▼ $181,705
Other Assets Total$75,219$59,612▼ $15,607
Liabilities
Other Liabilities$4,643,276$4,441,874▼ $201,402
Accounts Payable and Accrued Expenses$1,715$2,815▲ $1,100
Total Liabilities$4,644,991$4,444,689▼ $200,302
Net Assets / Fund Balance
Total Net Assets Fund Balance$827,294$845,891▲ $18,597
Total Liabilities and Net Assets / Fund Balance$5,472,285$5,290,580▼ $181,705

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$32,766$24,694-
Leasehold Improvements$132,891$8,053-
Other Assets Org$45,750--
Other Securities$1,830,000--
Compensation and Service Providers
Top Officer Pay56th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Michelle L KingPresidentCEOFT$42,784$13,316$56,100
Pamela G SmithOffice MgrLoan OfficerFT$31,531$8,902$40,433

Board Members and Trustees

NameTitle
Nina GilbertBoard Chairperson
Lurie R RigsbySupervisory Committee Chairpe
Richard B RayBoard Vice Chairperson
Debbie J FergusonBoard Member
Richard Barnhill JrBoard Member
David S SmithSupervisory Committee Member
Jennifer OrcuttSupervisory Committee Member
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$174,976
Investment Income
$31,717
Other Revenue
$1,050
Change in Net Assets
$18,597
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$122,669
Other Expenses$66,477
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$74,315--$74,315
Office Expenses$39,688--$39,688
Other Employee Benefits$29,651--$29,651
Depreciation Depletion$16,875--$16,875
Other Salaries and Wages$11,832--$11,832
Interest$10,564--$10,564
Other Expenses$10,019--$10,019
Payroll Taxes$6,871--$6,871
Occupancy$5,728--$5,728
All Other Expenses$-52,068--$-52,068
Total Functional Expenses$189,146$0$0$189,146
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 - Regular$3,675,274
Member Shares - Certificates$674,241
Member Shares - Club Accounts$92,359
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
Yes
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Organizational document changes Part VI line 4

“At its annual meeting in April 2016, the membership voted to replace the credit committee by allowing the Board of Directors to serve as the credit committee.”

Members or stockholder classes and rights Part VI line 6

“Hours of service are related to duties of the Board of Directors, Supervisory Committee and Credit Committee without compensation. The credit union is owned by its members.”

Member election for additional members Part VI line 7A

“The Board of Directors is elected by credit union membership (one member, one vote). All duties, powers, and responsibilities are controlled by the Board of Directors. The members elect the Board of Directors at each annual meeting.”

Governing body decisions Part VI line 7B

“Some decisions made by the Board of Directors are affirmed by the credit unions membership.”

Form 990 governing body review Part VI line 11

“The Form 990 is reviewed by the manager. The Form 990 is available for review by Board Members upon request.”

Conflict of interest policy compliance Part VI line 12C

“The Board of Directors monitor and enforce the Conflict of Interest policy.”

CEO executive director top management comp Part VI line 15A

“Compensation is based on comparable compensation in the industry in light of the credit unions asset size. Compensation is reviewed by the Board of Directors, who approves compensation and/or increases in salary for each position.”

Governing documents etc available to public Part VI line 19

“Financial documents for each month are posted in the credit union lobby by the 15th of the subsequent month.”

Filing and Contact Details

Filer

Filer Name
Brassies Credit Union
EIN
63-0337435
Address
PO Box 1229, Anniston, AL 36202

Signing Officer

Name
Michelle L King
Title
PresidentCEO
Phone
2568317180
Signed
2017-04-10
Discuss with paid preparer
No

Organization Details

Principal Officer
Michelle L King
Formed
1954
Legal Domicile
Al
Voting Board Members
5
Independent Board Members
5
Employees
3
Volunteers
10

Preparer

Firm
Markham & Company LLC
Address
P O Box 39, Weaver, AL 36277
Preparer
Annette M Markham
Phone
2562392901
Supplemental Narrative

Additional Explanations

Unrelated business income explanation Part V line 3B

“The credit union does not have any unrelated business income.”

Raw XML Appendix387 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/SavingsAndTempCashInvstGrp/EOYAmt0750000
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt032766
IRS990ScheduleD/EquipmentGrp/DepreciationAmt024694
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt057460
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0132891
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt08053
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt0140944
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt06331
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt17531
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt245750
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Accrued Loan Interest
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1Accrued Investment Income
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2NCUSIF Deposit
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt03675274
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1674241
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt292359
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Member Shares - Regular
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Member Shares - Certificates
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Member Shares - Club Accounts
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt01830000
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Investments
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0C
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0165657
IRS990ScheduleD/TotalBookValueOtherAssetsAmt059612
IRS990ScheduleD/TotalBookValueSecuritiesAmt01830000
IRS990ScheduleD/TotalLiabilityAmt04441874
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The credit union does not have any unrelated business income.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1At its annual meeting in April 2016, the membership voted to replace the credit committee by allowing the Board of Directors to serve as the credit committee.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Hours of service are related to duties of the Board of Directors, Supervisory Committee and Credit Committee without compensation. The credit union is owned by its members.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The Board of Directors is elected by credit union membership (one member, one vote). All duties, powers, and responsibilities are controlled by the Board of Directors. The members elect the Board of Directors at each annual meeting.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Some decisions made by the Board of Directors are affirmed by the credit unions membership.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5The Form 990 is reviewed by the manager. The Form 990 is available for review by Board Members upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6The Board of Directors monitor and enforce the Conflict of Interest policy.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7Compensation is based on comparable compensation in the industry in light of the credit unions asset size. Compensation is reviewed by the Board of Directors, who approves compensation and/or increases in salary for each position.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8Financial documents for each month are posted in the credit union lobby by the 15th of the subsequent month.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Unrelated business income explanation Part V line 3b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Organizational document changes Part VI line 4
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Members or stockholder classes and rights Part VI line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Member election for additional members Part VI line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Governing body decisions Part VI line 7b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8Governing documents etc available to public Part VI line 19
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0AL
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt05472285
IRS990/TotalAssetsEOYAmt05290580
IRS990/TotalAssetsGrp/BOYAmt05472285
IRS990/TotalAssetsGrp/EOYAmt05290580
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0189146
IRS990/TotalFunctionalExpensesGrp/TotalAmt0189146
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt04644991
IRS990/TotalLiabilitiesEOYAmt04444689
IRS990/TotalLiabilitiesGrp/BOYAmt04644991
IRS990/TotalLiabilitiesGrp/EOYAmt04444689
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0827294
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0845891
IRS990/TotalOtherCompensationAmt022218
IRS990/TotalProgramServiceExpensesAmt0189146
IRS990/TotalProgramServiceRevenueAmt0174976
IRS990/TotalReportableCompFromOrgAmt074315
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0207743
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0207743
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt010
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt05472285
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt05290580
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationOtherInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0false
ReturnHeader/BusinessOfficerGrp/PersonNm0Michelle L King
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PresidentCEO
ReturnHeader/BusinessOfficerGrp/PhoneNum02568317180
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-04-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Brassies Credit Union
ReturnHeader/Filer/BusinessNameControlTxt0BRAS
ReturnHeader/Filer/EIN0630337435
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO Box 1229
ReturnHeader/Filer/USAddress/CityNm0Anniston
ReturnHeader/Filer/USAddress/StateAbbreviationCd0AL
ReturnHeader/Filer/USAddress/ZIPCd036202
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId077BDED9893DFD4984CE046E488D46C2ABB974C22
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId077BDED9893DFD4984CE046E488D46C2ABB974C22
ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionId06335742017090puojnny
ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionIdDt02017-03-31
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt024.116.108.21
ReturnHeader/FilingSecurityInformation/IPDt02017-03-31
ReturnHeader/FilingSecurityInformation/IPTm016:50:24
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0471483460
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Markham & Company LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0P O Box 39
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Weaver
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0AL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd036277
ReturnHeader/PreparerPersonGrp/PhoneNum02562392901
ReturnHeader/PreparerPersonGrp/PreparationDt02017-03-30
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Annette M Markham
ReturnHeader/ReturnTs02017-03-30T16:46:38-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,290,580
Liabilities
$4,444,689
Net assets
$845,891
Revenue
$207,743
Expenses
$189,146
Net income
$18,597
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2019Detailed filing. Detailed filing data is available for this year.$3.68$3.01$0.68$0.20$0.24$0.04
2018Detailed filing. Detailed filing data is available for this year.$4.04$3.33$0.72$0.20$0.28$0.08
2017Detailed filing. Detailed filing data is available for this year.$4.46$3.66$0.79$0.21$0.27$0.05
2016Detailed filing. Detailed filing data is available for this year.$5.29$4.44$0.85$0.21$0.19$0.02
2015Detailed filing. Detailed filing data is available for this year.$5.47$4.64$0.83$0.22$0.21$0.01
2014Detailed filing. Detailed filing data is available for this year.$6.08$5.26$0.82$0.22$0.13$0.09
2013Detailed filing. Detailed filing data is available for this year.$7.29$6.56$0.73$0.28$0.58$0.30
2012Summary only. Only limited summary data is available for this year.$7.57$7.57$0.00$0.32$0.32$0.00
2011Summary only. Only limited summary data is available for this year.$8.28$7.21$1.07$0.37$0.32$0.04