Civic Intelligence

Brassies Credit Union

990 • Fiscal year 2018 • EIN 63-0337435

Jan 01, 2018 to Dec 31, 2018 • Filed on Apr 02, 2019

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

50th percentile

0.82x

Higher debt load relative to assets than 50% of similar nonprofits.

2018 filings • 501(c)14 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

51st percentile

16.67x

Higher debt load relative to revenue than 51% of similar nonprofits.

2018 filings • 501(c)14 • $1M-$5M nonprofits • Source year 2018

Net Margin

7th percentile

-39%

Higher net margin than 7% of similar nonprofits.

2018 filings • 501(c)14 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

91st percentile

$68,282

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 34.2% of source-year revenue.

2018 filings • 501(c)14 • $1M-$5M nonprofits • Source year 2018

Asset Growth

17th percentile

-9.3%

Faster asset growth than 17% of similar nonprofits.

2018 filings • 501(c)14 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

10th percentile

-6.5%

Faster revenue growth than 10% of similar nonprofits.

2018 filings • 501(c)14 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets50th percentile

Assets

Down

$4,042,758

Down $412,918 (-9.3%) from 2017

Net Assets

Down

$715,188

Down $78,277 (-9.9%) from 2017

Liabilities

Down

$3,327,570

Down $334,641 (-9.1%) from 2017

Revenue And Expenses
Liabilities / Revenue51st percentileNet Margin7th percentile

Revenue

Down

$199,618

Down $13,893 (-6.5%) from 2017

Expenses

Up

$277,895

Up $11,958 (+4.5%) from 2017

Net Income

Down

-$78,277

Down $25,851 (-49%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth17th 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

2018

Assets$4,042,758
Liabilities$3,327,570
Net Assets$715,188
Open 2018 Filing

Operations Trend

Revenue Growth10th 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

2018

Revenue$199,618
Expenses$277,895
Net Income-$78,277
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Apr 2, 2019
Return Version
2018v3.1
Gross Receipts
$340,819
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 564 members in the form of loans, checking and savings accounts, and other financial services.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$2,260,413$2,027,173▼ $233,240
Investments Other Securities$1,114,000$1,014,000▼ $100,000
Savings and Temporary Cash Investments$670,000$620,000▼ $50,000
Cap Stk Tr Prin Current Funds$620,000$620,000→ $0
Cash and Non-Interest-Bearing Accounts$167,280$163,545▼ $3,735
Land, Buildings, and Equipment, Net$150,961$140,119▼ $10,842
Rtn Earn Endowment Incm Other Fnds$173,465$95,188▼ $78,277
Prepaid Expenses and Deferred Charges$17,901$6,275▼ $11,626
Total Assets$4,455,676$4,042,758▼ $412,918
Other Assets Total$75,121$71,646▼ $3,475
Liabilities
Other Liabilities$3,659,396$3,324,320▼ $335,076
Accounts Payable and Accrued Expenses$2,815$3,250▲ $435
Total Liabilities$3,662,211$3,327,570▼ $334,641
Net Assets / Fund Balance
Total Net Assets Fund Balance$793,465$715,188▼ $78,277
Total Liabilities and Net Assets / Fund Balance$4,455,676$4,042,758▼ $412,918

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$14,958$45,056-
Leasehold Improvements$125,161$15,783-
Other Assets Org$1,044--
Other Securities$1,014,000--
Compensation and Service Providers
Top Officer Pay91st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Michelle L KingPresidentCEOFT$47,476$20,806$68,282
Pamela G SmithOffice MgrLoan OfficerFT$31,654$13,851$45,505

Board Members and Trustees

NameTitle
Nina GilbertBoard Chairperson
Laurie R RigsbySupervisory Committee Chairpe
Richard B RayBoard Vice Chairperson
Judy VinsonBoard Member
Richard Barnhill JrBoard Member
David S SmithSupervisory Committee Secreta
Jennifer OrcuttSupervisory Committee Vice Ch
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$189,932
Investment Income
$8,121
Other Revenue
$1,565
Change in Net Assets
$-78,277
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$139,413
Other Expenses$138,482
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$79,130--$79,130
Other Employee Benefits$34,656--$34,656
Office Expenses$33,812--$33,812
Other Expenses$22,718--$22,718
Other Salaries and Wages$17,921--$17,921
Depreciation Depletion$13,395--$13,395
Interest$9,262--$9,262
Payroll Taxes$7,706--$7,706
Occupancy$7,583--$7,583
Insurance$6,779--$6,779
Fees for Services Legal$5,670--$5,670
Fees for Services Other$2,155--$2,155
Fees for Services Accounting$1,313--$1,313
All Other Expenses$720--$720
Total Functional Expenses$277,895$0$0$277,895
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$2,924,214
Member Shares - Certificates$326,335
Member Shares - Club Accounts$73,771
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
No
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

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
2019-04-02
Discuss with paid preparer
Yes

Organization Details

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

Preparer

Firm
Markham and Company LLC
Address
P O Box 39, Weaver, AL 36277
Preparer
Annette M Markham CPA
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 AppendixShowing 400 of 406 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/PYOtherExpensesAmt0133339
IRS990/PYOtherRevenueAmt03330
IRS990/PYProgramServiceRevenueAmt0185580
IRS990/PYRevenuesLessExpensesAmt0-52426
IRS990/PYSalariesCompEmpBnftPaidAmt0132598
IRS990/PYTotalExpensesAmt0265937
IRS990/PYTotalRevenueAmt0213511
IRS990/ReconcilationRevenueExpnssAmt0-78277
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0true
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0173465
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt095188
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0670000
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0620000
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt014958
IRS990ScheduleD/EquipmentGrp/DepreciationAmt045056
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt060014
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0125161
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt015783
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt0140944
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt07954
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt15171
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt235927
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt321550
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt41044
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Accrued Loan Interest
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1Accrued Investment Income
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2NCUSIF Deposit
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3Repossessed Assets
IRS990ScheduleD/OtherAssetsOrgGrp/Desc4ACH Clearing
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt02924214
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1326335
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt273771
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Member Shares - Regular
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Member Shares - Certificates
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Member Shares - Club Accounts
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt01014000
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Investments
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0C
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0140119
IRS990ScheduleD/TotalBookValueOtherAssetsAmt071646
IRS990ScheduleD/TotalBookValueSecuritiesAmt01014000
IRS990ScheduleD/TotalLiabilityAmt03324320
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The credit union does not have any unrelated business income.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Hours 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/ExplanationTxt2The 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/ExplanationTxt3Some decisions made by the Board of Directors are affirmed by the credit unions membership.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The Form 990 is reviewed by the manager. The Form 990 is available for review by Board Members upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5The Board of Directors monitor and enforce the Conflict of Interest policy.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Compensation 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/ExplanationTxt7Financial 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/FormAndLineReferenceDesc1Members or stockholder classes and rights Part VI line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Member election for additional members Part VI line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Governing body decisions Part VI line 7b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Governing documents etc available to public Part VI line 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0AL
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt04455676
IRS990/TotalAssetsEOYAmt04042758
IRS990/TotalAssetsGrp/BOYAmt04455676
IRS990/TotalAssetsGrp/EOYAmt04042758
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0277895
IRS990/TotalFunctionalExpensesGrp/TotalAmt0277895
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt03662211
IRS990/TotalLiabilitiesEOYAmt03327570
IRS990/TotalLiabilitiesGrp/BOYAmt03662211
IRS990/TotalLiabilitiesGrp/EOYAmt03327570
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0793465
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0715188
IRS990/TotalOtherCompensationAmt034657
IRS990/TotalProgramServiceExpensesAmt0277895
IRS990/TotalProgramServiceRevenueAmt0189932
IRS990/TotalReportableCompFromOrgAmt079130
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0199618
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0199618
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt04455676
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt04042758
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationOtherInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Michelle L King
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PresidentCEO
ReturnHeader/BusinessOfficerGrp/PhoneNum02568317180
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-04-02
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/FederalOriginalSubmissionId06335742019093lhxdphf
ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionIdDt02019-04-03
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0174.126.173.94
ReturnHeader/FilingSecurityInformation/IPDt02019-04-03
ReturnHeader/FilingSecurityInformation/IPTm014:12:03
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0471483460
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Markham and 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/PreparationDt02019-04-02

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$4,042,758
Liabilities
$3,327,570
Net assets
$715,188
Revenue
$199,618
Expenses
$277,895
Net income
-$78,277
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