Civic Intelligence

State Chartered Credit Union

990 • Fiscal year 2014 • EIN 64-6023120

Jan 01, 2014 to Dec 31, 2014 • Filed on Aug 10, 2015

Organization ProfileWWW.NEWHORIZONSCREDITUNION.COM
211 High StreetWest Point, MS 39773

(662) 494-7700

Siviq Scores

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

Liabilities / Assets

28th percentile

0.82x

Higher debt load relative to assets than 28% of similar nonprofits.

2014 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2014

Liabilities / Revenue

32nd percentile

16.92x

Higher debt load relative to revenue than 32% of similar nonprofits.

2014 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2014

Net Margin

64th percentile

6.4%

Higher net margin than 64% of similar nonprofits.

2014 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2014

Top Officer Pay

17th percentile

$0

Higher top officer pay than 17% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2014 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2014

Asset Growth

94th percentile

8.5%

Faster asset growth than 94% of similar nonprofits.

2014 filings • 501(c)14 • $5M-$10M nonprofits • Annualized from 2013 to 2014

Revenue Growth

91st percentile

8.6%

Faster revenue growth than 91% of similar nonprofits.

2014 filings • 501(c)14 • $5M-$10M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets28th percentile

Assets

Up

$8,692,569

Up $681,450 (+8.5%) from 2013

Net Assets

Up

$1,572,013

Up $26,759 (+1.7%) from 2013

Liabilities

Up

$7,120,556

Up $654,681 (+10%) from 2013

Revenue And Expenses
Liabilities / Revenue32nd percentileNet Margin64th percentile

Revenue

Up

$420,843

Up $33,444 (+8.6%) from 2013

Expenses

Up

$394,084

Up $686 (+0.2%) from 2013

Net Income

Up

$26,759

Up $32,758 (+546%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth94th percentile

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

$10M$5.0M$0Assets 2011: $7,574,746Liabilities 2011: $5,819,823Net Assets 2011: $1,754,9232011Assets 2012: $7,508,172Liabilities 2012: $5,786,576Net Assets 2012: $1,721,5962012Assets 2013: $8,011,119Liabilities 2013: $6,465,875Net Assets 2013: $1,545,2542013Assets 2014: $8,692,569Liabilities 2014: $7,120,556Net Assets 2014: $1,572,0132014Assets 2015: $9,374,792Liabilities 2015: $7,777,306Net Assets 2015: $1,597,4862015Assets 2016: $9,228,513Liabilities 2016: $7,622,592Net Assets 2016: $1,605,9212016

Highlighted filing

2014

Assets$8,692,569
Liabilities$7,120,556
Net Assets$1,572,013
Open 2014 Filing

Operations Trend

Revenue Growth91st percentile

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

$1.0M$500K$0-$500KRevenue 2011: $406,397Expenses 2011: $451,398Net Income 2011: -$45,0012011Revenue 2012: $854,428Expenses 2012: $449,165Net Income 2012: $405,2632012Revenue 2013: $387,399Expenses 2013: $393,398Net Income 2013: -$5,9992013Revenue 2014: $420,843Expenses 2014: $394,084Net Income 2014: $26,7592014Revenue 2015: $455,100Expenses 2015: $429,627Net Income 2015: $25,4732015Revenue 2016: $497,059Expenses 2016: $485,843Net Income 2016: $11,2162016

Highlighted filing

2014

Revenue$420,843
Expenses$394,084
Net Income$26,759
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Aug 10, 2015
Return Version
2014v5.0
Gross Receipts
$420,843
Mission and Program Overview

Mission

To provide financial services to members who own and control the business.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$3,453,322$4,157,919▲ $704,597
Savings and Temporary Cash Investments$4,152,057$4,018,785▼ $133,272
Rtn Earn Endowment Incm Other Fnds$1,545,254$1,572,013▲ $26,759
Cash and Non-Interest-Bearing Accounts$227,139$264,298▲ $37,159
Land, Buildings, and Equipment, Net$79,974$130,916▲ $50,942
Prepaid Expenses and Deferred Charges$24,555$38,402▲ $13,847
Accounts Receivable$16,047$19,132▲ $3,085
Total Assets$8,011,119$8,692,569▲ $681,450
Other Assets Total$58,025$63,117▲ $5,092
Liabilities
Other Liabilities$6,459,437$7,104,178▲ $644,741
Accounts Payable and Accrued Expenses$6,428$16,378▲ $9,950
Total Liabilities$6,465,865$7,120,556▲ $654,691
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,545,254$1,572,013▲ $26,759
Total Liabilities and Net Assets / Fund Balance$8,011,119$8,692,569▲ $681,450

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$9,528$26,801-
Land$60,000--
Equipment$61,388$157,215-
Compensation and Service Providers
Top Officer Pay17th percentile

Board Members and Trustees

NameTitle
James RustinPresident
Amy BerryBoard Member
Gregg KaiserBoard Member
Kim CaskeyBoard Member
Vickie L BagwellManager
Marvin TurnipseedSecretary
PETER S O'SHEATreasurer
Steve TribbleVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$372,178
Investment Income
$48,665
Other Revenue
$0
Change in Net Assets
$26,759

Audited Revenue Reconciliation

Revenue per Audited Statements
$420,843
Total Revenue per Audited Statements
$420,843
Total Revenue per Form 990
$420,843
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$213,104
Salaries, Compensation, and Employee Benefits$180,980
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$151,014$14,936-$165,950
Office Expenses$85,118$13,856-$98,974
Occupancy$28,026--$28,026
Interest$26,018--$26,018
Payroll Taxes$13,677$1,353-$15,030
Insurance$13,965--$13,965
Fees for Services Accounting-$11,512-$11,512
Fees for Services Management-$5,428-$5,428
Advertising$2,871--$2,871
Travel-$2,365-$2,365
Other Expenses$609--$609
Conferences and Meetings-$250-$250
Total Functional Expenses$344,384$49,700$0$394,084

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$394,084
Total Expenses per Audited Statements$394,084
Total Expenses per Form 990$394,084
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 Deposits$5,973,478
Member Share Certificates$960,986
Regular Reserves$169,714
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
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

“Organization has members authorized one vote each in certain matters (see 7a) if above the age of 18.”

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

“Members do elect the board of directors.”

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

“Reserved to members above the age of 18 are (1) the election of the governing body, (2) removal of a member of the governing body for cause and (3) removal of a member for cause.”

Form 990, Page 6, Part VI, Line 8B

“No committee is allowed to act on behalf of the governing body.”

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

“A complete copy of the form 990 is provided to each director but no formal review is conducted.”

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

“Directors and officers are asked annually if they have violated any part of the conflict of interest policy. Additionally, throughout the year activities of directors and officer are monitored by the board treasurer and credit union manager for conflict of interest violations.”

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

“Board of directors sets salaries for all paid staff members of the credit union.”

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

“Board of directors sets salaries for all paid staff members of the credit union.”

Form 990, Page 6, Part VI, Line 19

“All credit union governing documents are available upon request to any member of the organization. This policy is made known at the annual meeting of the membership each year.”

Filing and Contact Details

Filer

Filer Name
State Chartered Credit Union
EIN
64-6023120
Phone
6624947700
Address
211 HIGH STREET, WEST POINT, MS 39773
Doing Business As
New Horizons Credit Union

Signing Officer

Name
James Rustin
Title
President
Phone
6624947700
Signed
2015-08-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Vickie Bagwell
Formed
1960
Legal Domicile
Ms
Voting Board Members
7
Independent Board Members
7
Employees
5
Volunteers
9

Preparer

Firm
Watkins Ward and Stafford Pllc
Address
PO BOX 1216, WEST POINT, MS 39773-1216
Preparer
Kimberly S Caskey CPA
Phone
6624945732
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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ORGANIZATION HAS MEMBERS AUTHORIZED ONE VOTE EACH IN CERTAIN MATTERS (SEE 7A) IF ABOVE THE AGE OF 18.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MEMBERS DO ELECT THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2RESERVED TO MEMBERS ABOVE THE AGE OF 18 ARE (1) THE ELECTION OF THE GOVERNING BODY, (2) REMOVAL OF A MEMBER OF THE GOVERNING BODY FOR CAUSE AND (3) REMOVAL OF A MEMBER FOR CAUSE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO COMMITTEE IS ALLOWED TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4A COMPLETE COPY OF THE FORM 990 IS PROVIDED TO EACH DIRECTOR BUT NO FORMAL REVIEW IS CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5DIRECTORS AND OFFICERS ARE ASKED ANNUALLY IF THEY HAVE VIOLATED ANY PART OF THE CONFLICT OF INTEREST POLICY. ADDITIONALLY, THROUGHOUT THE YEAR ACTIVITIES OF DIRECTORS AND OFFICER ARE MONITORED BY THE BOARD TREASURER AND CREDIT UNION MANAGER FOR CONFLICT OF INTEREST VIOLATIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6BOARD OF DIRECTORS SETS SALARIES FOR ALL PAID STAFF MEMBERS OF THE CREDIT UNION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7BOARD OF DIRECTORS SETS SALARIES FOR ALL PAID STAFF MEMBERS OF THE CREDIT UNION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8ALL CREDIT UNION GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST TO ANY MEMBER OF THE ORGANIZATION. THIS POLICY IS MADE KNOWN AT THE ANNUAL MEETING OF THE MEMBERSHIP EACH YEAR.
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 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 8B
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
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0344384
IRS990/TotalFunctionalExpensesGrp/TotalAmt0394084
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt06465865
IRS990/TotalLiabilitiesEOYAmt07120556
IRS990/TotalLiabilitiesGrp/BOYAmt06465865
IRS990/TotalLiabilitiesGrp/EOYAmt07120556
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01545254
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01572013
IRS990/TotalProgramServiceExpensesAmt0344384
IRS990/TotalProgramServiceRevenueAmt0372178
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0420843
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0420843
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IRS990/TravelGrp/ManagementAndGeneralAmt02365
IRS990/TravelGrp/TotalAmt02365
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IRS990/USAddress/ZIPCd039773
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0WWW.NEWHORIZONSCREDITUNION.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-03-07 17:11:31Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JAMES RUSTIN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum06624947700
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-08-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0STATE CHARTERED CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0STAT
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ReturnHeader/Filer/PhoneNum06624947700
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0640394922
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0WATKINS WARD AND STAFFORD PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 1216
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WEST POINT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0397731216
ReturnHeader/PreparerPersonGrp/PhoneNum06624945732
ReturnHeader/PreparerPersonGrp/PreparationDt02015-08-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0KIMBERLY S CASKEY CPA
ReturnHeader/ReturnTs02015-08-17T10:19:40-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-01-01
ReturnHeader/TaxPeriodEndDt02014-12-31
ReturnHeader/TaxYr02014

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$8,692,569
Liabilities
$7,120,556
Net assets
$1,572,013
Revenue
$420,843
Expenses
$394,084
Net income
$26,759
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2016Summary only. Only limited summary data is available for this year.$9.23$7.62$1.61$0.50$0.49$0.01
2015Detailed filing. Detailed filing data is available for this year.$9.37$7.78$1.60$0.46$0.43$0.03
2014Detailed filing. Detailed filing data is available for this year.$8.69$7.12$1.57$0.42$0.39$0.03
2013Summary only. Only limited summary data is available for this year.$8.01$6.47$1.55$0.39$0.39$0.01
2012Summary only. Only limited summary data is available for this year.$7.51$5.79$1.72$0.85$0.45$0.41
2011Summary only. Only limited summary data is available for this year.$7.57$5.82$1.75$0.41$0.45$0.05