Civic Intelligence

Legal Community Credit Union of Colorado

990 • Fiscal year 2022 • EIN 84-0818111

Jan 01, 2022 to Dec 31, 2022 • Filed on Oct 30, 2023

5935 S Zang St 4Littleton, CO 80127

(303) 860-1117

Siviq Scores

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

Liabilities / Assets

89th percentile

0.91x

Higher debt load relative to assets than 89% of similar nonprofits.

2022 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2022

Liabilities / Revenue

25th percentile

15.19x

Higher debt load relative to revenue than 25% of similar nonprofits.

2022 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2022

Net Margin

34th percentile

0.9%

Higher net margin than 34% of similar nonprofits.

2022 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2022

Top Officer Pay

89th percentile

$83,142

Higher top officer pay than 89% of similar nonprofits.

Top officer pay equals 26.2% of source-year revenue.

2022 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2022

Asset Growth

90th percentile

5.8%

Faster asset growth than 90% of similar nonprofits.

2022 filings • 501(c)14 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Revenue Growth

25th percentile

-6.0%

Faster revenue growth than 25% of similar nonprofits.

2022 filings • 501(c)14 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Assets

Up

$5,294,854

Up $291,013 (+5.8%) from 2021

Net Assets

Up

$464,225

Up $2,789 (+0.6%) from 2021

Liabilities

Up

$4,830,629

Up $288,224 (+6.3%) from 2021

Revenue

Down

$317,940

Down $20,401 (-6.0%) from 2021

Expenses

Up

$315,151

Up $9,345 (+3.1%) from 2021

Net Income

Down

$2,789

Down $29,746 (-91%) from 2021

Historical Trend

Balance Sheet Trend

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2010: $4,395,581Liabilities 2010: $4,062,979Net Assets 2010: $332,6022010Assets 2011: $3,662,912Liabilities 2011: $3,368,512Net Assets 2011: $294,4002011Assets 2012: $3,939,237Liabilities 2012: $3,615,904Net Assets 2012: $323,3332012Assets 2013: $4,115,901Liabilities 2013: $3,749,531Net Assets 2013: $366,3702013Assets 2014: $4,193,085Liabilities 2014: $3,833,042Net Assets 2014: $360,0432014Assets 2015: $4,816,816Liabilities 2015: $4,447,973Net Assets 2015: $368,8432015Assets 2016: $5,041,092Liabilities 2016: $4,662,119Net Assets 2016: $378,9732016Assets 2017: $5,162,428Liabilities 2017: $4,759,631Net Assets 2017: $402,7972017Assets 2018: $5,414,595Liabilities 2018: $4,988,219Net Assets 2018: $426,3762018Assets 2019: $5,675,997Liabilities 2019: $5,265,583Net Assets 2019: $410,4142019Assets 2020: $6,029,950Liabilities 2020: $5,601,049Net Assets 2020: $428,9012020Assets 2021: $5,003,841Liabilities 2021: $4,542,405Net Assets 2021: $461,4362021Assets 2022: $5,294,854Liabilities 2022: $4,830,629Net Assets 2022: $464,2252022Assets 2023: $5,480,692Liabilities 2023: $5,033,025Net Assets 2023: $447,6672023Assets 2024: $4,834,333Liabilities 2024: $4,396,200Net Assets 2024: $438,1332024

Highlighted filing

2022

Assets$5,294,854
Liabilities$4,830,629
Net Assets$464,225

Operations Trend

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

$600K$400K$200K$0-$200KExpenses 2010: $387,5392010Expenses 2011: $394,4782011Revenue 2012: $340,077Expenses 2012: $311,144Net Income 2012: $28,9332012Revenue 2013: $326,060Expenses 2013: $283,023Net Income 2013: $43,0372013Revenue 2014: $263,752Expenses 2014: $270,079Net Income 2014: -$6,3272014Revenue 2015: $291,811Expenses 2015: $283,011Net Income 2015: $8,8002015Revenue 2016: $339,897Expenses 2016: $329,767Net Income 2016: $10,1302016Revenue 2017: $357,659Expenses 2017: $333,835Net Income 2017: $23,8242017Revenue 2018: $411,609Expenses 2018: $388,030Net Income 2018: $23,5792018Revenue 2019: $397,405Expenses 2019: $413,367Net Income 2019: -$15,9622019Revenue 2020: $358,996Expenses 2020: $340,509Net Income 2020: $18,4872020Revenue 2021: $338,341Expenses 2021: $305,806Net Income 2021: $32,5352021Revenue 2022: $317,940Expenses 2022: $315,151Net Income 2022: $2,7892022Revenue 2023: $349,567Expenses 2023: $366,125Net Income 2023: -$16,5582023Revenue 2024: $356,928Expenses 2024: $366,462Net Income 2024: -$9,5342024

Highlighted filing

2022

Revenue$317,940
Expenses$315,151
Net Income$2,789
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Oct 30, 2023
Return Version
2022v5.0
Gross Receipts
$317,940
Mission and Program Overview

Mission

Options credit union (formally legal community credit union of colorado) was founded in 1979 for the purpose of providing an alternative financial service, focusing on personalized customer service, for our community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$4,146,015$4,794,568▲ $648,553
Rtn Earn Endowment Incm Other Fnds$461,436$464,225▲ $2,789
Savings and Temporary Cash Investments$692,422$329,562▼ $362,860
Cash and Non-Interest-Bearing Accounts$27,161$35,588▲ $8,427
Investments Other Securities$20,000$20,000→ $0
Prepaid Expenses and Deferred Charges$11,631$16,229▲ $4,598
Land, Buildings, and Equipment, Net$7,349$6,442▼ $907
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$5,003,841$5,294,854▲ $291,013
Other Assets Total$99,263$92,465▼ $6,798
Liabilities
Other Liabilities$4,524,194$4,803,678▲ $279,484
Accounts Payable and Accrued Expenses$18,211$26,951▲ $8,740
Total Liabilities$4,542,405$4,830,629▲ $288,224
Net Assets / Fund Balance
Total Net Assets Fund Balance$461,436$464,225▲ $2,789
Total Liabilities and Net Assets / Fund Balance$5,003,841$5,294,854▲ $291,013

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$6,442$135,043$141,485
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Sherry EspinozaCEOFT$82,420$722$83,142

Board Members and Trustees

NameTitle
Dawn McnightChairman
Dan CuhlaneVice Chair
Anita MarchantDirector
Dylan WoodsDirector
Carrie HaleSecretary
Tim GaffiganTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$306,847
Investment Income
$5,817
Other Revenue
$5,276
Change in Net Assets
$2,789
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$186,320
Salaries, Compensation, and Employee Benefits$128,831
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---$83,142
Fees for Services Other---$51,567
Other Salaries and Wages---$36,143
Occupancy---$22,917
Other Expenses---$13,989
Payroll Taxes---$9,157
Depreciation Depletion---$2,670
All Other Expenses---$1,847
Advertising---$1,560
Travel---$814
Other Employee Benefits---$389
Total Functional Expenses$0$0$0$315,151
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, Deposits and Certificates$4,803,678
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 35% controlled entity
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, Section A, Line 6

Line 6 explanation - any member of the denver bar association or colorado bar association, employees of the denver or colorado bar association, employees of members of the denver or colorado bar associations, tenants/employees of the 1900 grant street building and creekside at columbine office park, members of the ppiac, members of the rmpa, employees of the coal mine centre group, and family members of the above. In 2015, members of consumers united association were added as potential members.

Form 990, Part VI, Section A, Line 7A

Line 7a explanation - the members elect the governing body by vote.

Form 990, Part VI, Section A, Line 7B

Line 7b explanation - merger - requires two thirds majority vote of voting members. Charter conversion - requires two thirds majority vote of voting members. Dissolution and liquidation - requires majority vote of entire membership.

Form 990, Part VI, Section B, Line 11B

Line 11b explanation - the form 990 is prepared by an independent cpa firm and then reviewed by the credit union's ceo before it is electronically filed.

Form 990, Part VI, Section B, Line 12C

Director compliance with conflict of interest policy is monitored by the ceo and the supervisory committee quarterly. A conflict of interest policy is signed annually by all staff and the board.

Form 990, Part VI, Section B, Line 15

The ceo's compensation evaluation is completed annually by the board of directors. All other staff positions are evaluated by the ceo.

Form 990, Part VI, Section C, Line 19

All documents are available for review in the office upon request.

Filing and Contact Details

Filer

Filer Name
Options Credit Union
EIN
84-0818111
Phone
3038601117
Address
5935 S ZANG ST 4, LITTLETON, CO 80127

Signing Officer

Name
Sherry Espinoza
Title
CEO
Phone
3038601117
Signed
2023-10-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sherry Espinoza
Formed
1979
Legal Domicile
Co
Voting Board Members
6
Independent Board Members
6
Employees
0
Volunteers
10

Preparer

Firm
Jones Mertsching Cpas Pc
Address
32186 CASTLE COURT SUITE 220, EVERGREEN, CO 80439
Preparer
Eric L Jones CPA
Phone
3034809090
Supplemental Narrative

Additional Explanations

Form 990, Part 1,line 5 &part V, Line 2A

Number of employees is reported as zero as the credit union does not file form w-3. Gusto payroll service, as common paymaster, files form w-3 under their own fein to report the compensation of all credit union employees.

Form 990, Part IX, Line 11G

OTHER 51,567.

Raw XML Appendix343 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/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0NUMBER OF EMPLOYEES IS REPORTED AS ZERO AS THE CREDIT UNION DOES NOT FILE FORM W-3. GUSTO PAYROLL SERVICE, AS COMMON PAYMASTER, FILES FORM W-3 UNDER THEIR OWN FEIN TO REPORT THE COMPENSATION OF ALL CREDIT UNION EMPLOYEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1LINE 6 EXPLANATION - ANY MEMBER OF THE DENVER BAR ASSOCIATION OR COLORADO BAR ASSOCIATION, EMPLOYEES OF THE DENVER OR COLORADO BAR ASSOCIATION, EMPLOYEES OF MEMBERS OF THE DENVER OR COLORADO BAR ASSOCIATIONS, TENANTS/EMPLOYEES OF THE 1900 GRANT STREET BUILDING AND CREEKSIDE AT COLUMBINE OFFICE PARK, MEMBERS OF THE PPIAC, MEMBERS OF THE RMPA, EMPLOYEES OF THE COAL MINE CENTRE GROUP, AND FAMILY MEMBERS OF THE ABOVE. IN 2015, MEMBERS OF CONSUMERS UNITED ASSOCIATION WERE ADDED AS POTENTIAL MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2LINE 7A EXPLANATION - THE MEMBERS ELECT THE GOVERNING BODY BY VOTE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3LINE 7B EXPLANATION - MERGER - REQUIRES TWO THIRDS MAJORITY VOTE OF VOTING MEMBERS. CHARTER CONVERSION - REQUIRES TWO THIRDS MAJORITY VOTE OF VOTING MEMBERS. DISSOLUTION AND LIQUIDATION - REQUIRES MAJORITY VOTE OF ENTIRE MEMBERSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4LINE 11B EXPLANATION - THE FORM 990 IS PREPARED BY AN INDEPENDENT CPA FIRM AND THEN REVIEWED BY THE CREDIT UNION'S CEO BEFORE IT IS ELECTRONICALLY FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5DIRECTOR COMPLIANCE WITH CONFLICT OF INTEREST POLICY IS MONITORED BY THE CEO AND THE SUPERVISORY COMMITTEE QUARTERLY. A CONFLICT OF INTEREST POLICY IS SIGNED ANNUALLY BY ALL STAFF AND THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE CEO'S COMPENSATION EVALUATION IS COMPLETED ANNUALLY BY THE BOARD OF DIRECTORS. ALL OTHER STAFF POSITIONS ARE EVALUATED BY THE CEO.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7ALL DOCUMENTS ARE AVAILABLE FOR REVIEW IN THE OFFICE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8OTHER 51,567.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART 1,LINE 5 &PART V, LINE 2A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PART IX, LINE 11G
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt05003841
IRS990/TotalAssetsEOYAmt05294854
IRS990/TotalAssetsGrp/BOYAmt05003841
IRS990/TotalAssetsGrp/EOYAmt05294854
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0315151
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt04542405
IRS990/TotalLiabilitiesEOYAmt04830629
IRS990/TotalLiabilitiesGrp/BOYAmt04542405
IRS990/TotalLiabilitiesGrp/EOYAmt04830629
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0461436
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0464225
IRS990/TotalOtherCompensationAmt0722
IRS990/TotalProgramServiceRevenueAmt0306847
IRS990/TotalReportableCompFromOrgAmt082420
IRS990/TotalRevenueGrp/ExclusionAmt05817
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0312123
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0317940
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt010
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt05003841
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt05294854
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/TotalAmt0814
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt05935 S ZANG ST 4
IRS990/USAddress/CityNm0LITTLETON
IRS990/USAddress/StateAbbreviationCd0CO
IRS990/USAddress/ZIPCd080127
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0WWW.COLORADOLEGAL.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0SHERRY ESPINOZA
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum03038601117
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-10-30
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0OPTIONS CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0OPTI
ReturnHeader/Filer/EIN0840818111
ReturnHeader/Filer/PhoneNum03038601117
ReturnHeader/Filer/USAddress/AddressLine1Txt05935 S ZANG ST 4
ReturnHeader/Filer/USAddress/CityNm0LITTLETON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CO
ReturnHeader/Filer/USAddress/ZIPCd080127
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0840919886
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0JONES MERTSCHING CPAS PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt032186 CASTLE COURT SUITE 220
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0EVERGREEN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd080439
ReturnHeader/PreparerPersonGrp/PhoneNum03034809090
ReturnHeader/PreparerPersonGrp/PreparationDt02023-11-07
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ERIC L JONES CPA
ReturnHeader/ReturnTs02023-11-07T12:54:37-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0SHERRY
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0ESPINOZA
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.83$4.40$0.44$0.36$0.37$0.01
2023Summary only. Only limited summary data is available for this year.$5.48$5.03$0.45$0.35$0.37$0.02
2022Detailed filing. Detailed filing data is available for this year.$5.29$4.83$0.46$0.32$0.32$0.00
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.00$4.54$0.46$0.34$0.31$0.03
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.03$5.60$0.43$0.36$0.34$0.02
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.68$5.27$0.41$0.40$0.41$0.02
2018Summary only. Only limited summary data is available for this year.$5.41$4.99$0.43$0.41$0.39$0.02
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.16$4.76$0.40$0.36$0.33$0.02
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.04$4.66$0.38$0.34$0.33$0.01
2015Summary only. Only limited summary data is available for this year.$4.82$4.45$0.37$0.29$0.28$0.01
2014Detailed filing. Detailed filing data is available for this year.$4.19$3.83$0.36$0.26$0.27$0.01
2013Detailed filing. Detailed filing data is available for this year.$4.12$3.75$0.37$0.33$0.28$0.04
2012Summary only. Only limited summary data is available for this year.$3.94$3.62$0.32$0.34$0.31$0.03
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.66$3.37$0.29$0.39
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.40$4.06$0.33$0.39
Peer Organizations

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