Civic Intelligence

Hercules Credit Union

990 • Fiscal year 2015 • EIN 87-0237696

Jan 01, 2015 to Dec 31, 2015 • Filed on Feb 22, 2016

Organization ProfileWWW.HERCULESCU.COM

View Organization Page

PO Box 26977Salt Lake City, UT 84126

(801) 968-9011

Siviq Scores

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

Liabilities / Assets

73rd percentile

0.90x

Higher debt load relative to assets than 73% of similar nonprofits.

2015 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2015

Liabilities / Revenue

84th percentile

24.88x

Higher debt load relative to revenue than 84% of similar nonprofits.

2015 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2015

Net Margin

50th percentile

9.0%

Higher net margin than 50% of similar nonprofits.

2015 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2015

Top Officer Pay

32nd percentile

$118,000

Higher top officer pay than 32% of similar nonprofits.

Top officer pay equals 5.2% of source-year revenue.

2015 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2015

Asset Growth

62nd percentile

5.8%

Faster asset growth than 62% of similar nonprofits.

2015 filings • 501(c)14 • $50M-$100M nonprofits • Annualized from 2014 to 2015

Revenue Growth

47th percentile

1.4%

Faster revenue growth than 47% of similar nonprofits.

2015 filings • 501(c)14 • $50M-$100M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets73rd percentile

Assets

Flat

$62,543,395

Flat from 2015

Net Assets

Flat

$5,942,063

Flat from 2015

Liabilities

Flat

$56,601,332

Flat from 2015

Revenue And Expenses
Liabilities / Revenue84th percentileNet Margin50th percentile

Revenue

Flat

$2,275,028

Flat from 2015

Expenses

Flat

$2,069,304

Flat from 2015

Net Income

Flat

$205,724

Flat from 2015

Historical Trend

Balance Sheet Trend

Asset Growth62nd percentile

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

$80M$60M$40M$20M$0Assets 2010: $53,553,104Liabilities 2010: $48,747,542Net Assets 2010: $4,805,5622010Assets 2011: $55,841,179Liabilities 2011: $50,850,601Net Assets 2011: $4,990,5782011Assets 2012: $56,569,571Liabilities 2012: $51,413,536Net Assets 2012: $5,156,0352012Assets 2013: $57,364,276Liabilities 2013: $51,928,345Net Assets 2013: $5,435,9312013Assets 2014: $59,106,710Liabilities 2014: $53,370,371Net Assets 2014: $5,736,3392014Assets 2015: $62,543,395Liabilities 2015: $56,601,332Net Assets 2015: $5,942,0632015Assets 2015: $62,543,395Liabilities 2015: $56,601,332Net Assets 2015: $5,942,0632015Assets 2016: $65,890,862Liabilities 2016: $59,748,700Net Assets 2016: $6,142,1622016Assets 2017: $69,437,066Liabilities 2017: $63,256,765Net Assets 2017: $6,180,3012017

Highlighted filing

2015

Assets$62,543,395
Liabilities$56,601,332
Net Assets$5,942,063
Open 2015 Filing

Operations Trend

Revenue Growth47th percentile

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

$4.0M$3.0M$2.0M$1.0M$0Expenses 2010: $3,130,9692010Expenses 2011: $2,127,3742011Expenses 2012: $1,949,0352012Revenue 2013: $2,193,627Expenses 2013: $1,913,731Net Income 2013: $279,8962013Revenue 2014: $2,243,798Expenses 2014: $1,943,390Net Income 2014: $300,4082014Revenue 2015: $2,275,028Expenses 2015: $2,069,304Net Income 2015: $205,7242015Revenue 2015: $2,275,028Expenses 2015: $2,069,304Net Income 2015: $205,7242015Revenue 2016: $2,224,991Expenses 2016: $2,074,821Net Income 2016: $150,1702016Revenue 2017: $2,311,013Expenses 2017: $2,292,769Net Income 2017: $18,2442017

Highlighted filing

2015

Revenue$2,275,028
Expenses$2,069,304
Net Income$205,724
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Feb 22, 2016
Return Version
2015v2.0
Gross Receipts
$2,275,028
Mission and Program Overview

Mission

NON-PROFIT CREDIT UNION

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$37,675,845$38,100,270▲ $424,425
Accounts Receivable$18,162,163$20,769,133▲ $2,606,970
Rtn Earn Endowment Incm Other Fnds$5,736,339$5,942,063▲ $205,724
Land, Buildings, and Equipment, Net$759,947$794,822▲ $34,875
Receivables From Officers Etc$52,551$448,597▲ $396,046
Cash and Non-Interest-Bearing Accounts$214,218$150,296▼ $63,922
Prepaid Expenses and Deferred Charges$159,435$115,534▼ $43,901
Investments in Publicly Traded Securities$10,000$10,000→ $0
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$59,106,710$62,543,395▲ $3,436,685
Other Assets Total$2,072,551$2,154,743▲ $82,192
Liabilities
Other Liabilities$53,252,110$56,473,657▲ $3,221,547
Accounts Payable and Accrued Expenses$118,261$127,675▲ $9,414
Total Liabilities$53,370,371$56,601,332▲ $3,230,961
Net Assets / Fund Balance
Total Net Assets Fund Balance$5,736,339$5,942,063▲ $205,724
Total Liabilities and Net Assets / Fund Balance$59,106,710$62,543,395▲ $3,436,685

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$223,375$508,547$731,922
Buildings$127,597$576,197$703,794
Leasehold Improvements$293,614-$293,614
Land$150,236-$150,236
Compensation and Service Providers
Top Officer Pay32nd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Brett M BlackburnPresidentFT$118,000$118,000

Board Members and Trustees

NameTitle
Richard WilcockChairman
Gerry PoulsonVice Chairman
Brett CoatesDirector
Jeff SorensenDirector
Nancy Friel-brooksDirector
Roger WeirDirector
Mardean WhitneySecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,275,028
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$205,724

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,275,028
Total Revenue per Audited Statements
$2,275,028
Total Revenue per Form 990
$2,275,028
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,188,275
Salaries, Compensation, and Employee Benefits$881,029
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$555,749--$555,749
Interest$286,929--$286,929
Office Expenses$281,046--$281,046
Other Employee Benefits$159,017--$159,017
Current Officers, Directors, Trustees, and Key Employees$118,000--$118,000
Advertising$112,123--$112,123
Depreciation Depletion$96,306--$96,306
Occupancy$56,491--$56,491
Payroll Taxes$48,263--$48,263
Travel$16,732--$16,732
Conferences and Meetings$8,248--$8,248
Other Expenses$3,000--$3,000
Total Functional Expenses$2,069,304$0$0$2,069,304

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,069,304
Total Expenses per Audited Statements$2,069,304
Total Expenses per Form 990$2,069,304
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
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees$52,551$448,597▲ $396,046
Receivables from Disqualified Persons-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Member Shares and Certificates$56,473,657
Governance and Compliance

Governance Checklist

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

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

“The Credit Union has members who all have equal rights.”

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

“The Credit Union members elect the Board of Directors”

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

“The Credit Union governing body's policy decisions are subject to the approval of its members.”

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

“The form 990 is reviewed by the Directors and the President, Brett M.Blackburn”

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

“The Credit Union makes its governing documents, conflicts of interest policy and finacial statements available to the public upon request for review at the office.”

Filing and Contact Details

Filer

Filer Name
Hercules Credit Union
EIN
87-0237696
Phone
8019689011
Address
PO BOX 26977, SALT LAKE CITY, UT 84126

Signing Officer

Name
Brett M Blackburn
Title
President
Signed
2016-02-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Brett M Blackburn
Formed
1945
Legal Domicile
Ut
Voting Board Members
8
Independent Board Members
7
Employees
15

Preparer

Firm
Smith Powell & Company LLC Cpas
Address
68 SO MAIN 3RD FLOOR, SALT LAKE CITY, UT 84101
Preparer
Brandon R Zrno
Phone
8013592056
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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/ProgramServiceRevenueGrp/Desc0FEES AND CHARGES INCOME
IRS990/ProgramServiceRevenueGrp/Desc1INCOME FROM LOANS
IRS990/ProgramServiceRevenueGrp/Desc2INVESTMENT INCOME
IRS990/ProgramServiceRevenueGrp/Desc3MISCELLANEOUS INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0200414
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1815638
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt21126773
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt3132203
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0200414
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1815638
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt21126773
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt3132203
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt01155174
IRS990/PYProgramServiceRevenueAmt02243798
IRS990/PYRevenuesLessExpensesAmt0300408
IRS990/PYSalariesCompEmpBnftPaidAmt0788216
IRS990/PYTotalExpensesAmt01943390
IRS990/PYTotalRevenueAmt02243798
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt052551
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt0448597
IRS990/ReconcilationRevenueExpnssAmt0205724
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt02275027
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt05736339
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt05942063
IRS990/SavingsAndTempCashInvstGrp/BOYAmt037675845
IRS990/SavingsAndTempCashInvstGrp/EOYAmt038100270
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0127597
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0576197
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0703794
IRS990ScheduleD/EquipmentGrp/BookValueAmt0223375
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0508547
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0731922
IRS990ScheduleD/ExpensesSubtotalAmt02069304
IRS990ScheduleD/LandGrp/BookValueAmt0150236
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0150236
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0293614
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0293614
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt056473657
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MEMBER SHARES AND CERTIFICATES
IRS990ScheduleD/RevenueSubtotalAmt02275028
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0794822
IRS990ScheduleD/TotalExpensesPerForm990Amt02069304
IRS990ScheduleD/TotalLiabilityAmt056473657
IRS990ScheduleD/TotalRevenuePerForm990Amt02275028
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02275028
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02069304
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt0448597
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd0true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0HE/V/DC
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt0560946
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0AS A GROUP
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0DIRECTOR
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd0true
IRS990ScheduleL/TotalBalanceDueAmt0448597
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Credit Union has members who all have equal rights.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The Credit Union members elect the Board of Directors
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Credit Union governing body's policy decisions are subject to the approval of its members.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The form 990 is reviewed by the Directors and the President, Brett M.Blackburn
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The Credit Union makes its governing documents, conflicts of interest policy and finacial statements available to the public upon request for review at the office.
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 19: Other Organization Documents Publicly Available
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt059106710
IRS990/TotalAssetsEOYAmt062543395
IRS990/TotalAssetsGrp/BOYAmt059106710
IRS990/TotalAssetsGrp/EOYAmt062543395
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt015
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02069304
IRS990/TotalFunctionalExpensesGrp/TotalAmt02069304
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt053370371
IRS990/TotalLiabilitiesEOYAmt056601332
IRS990/TotalLiabilitiesGrp/BOYAmt053370371
IRS990/TotalLiabilitiesGrp/EOYAmt056601332
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt05736339
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt05942063
IRS990/TotalProgramServiceExpensesAmt02069303
IRS990/TotalProgramServiceRevenueAmt02275028
IRS990/TotalReportableCompFromOrgAmt0118000
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt02275028
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02275028
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt059106710
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt062543395
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/ProgramServicesAmt016732
IRS990/TravelGrp/TotalAmt016732
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 26977
IRS990/USAddress/CityNm0SALT LAKE CITY
IRS990/USAddress/StateAbbreviationCd0UT
IRS990/USAddress/ZIPCd084126
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0WWW.HERCULESCU.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-09-27 15:27:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0BRETT M BLACKBURN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-02-22
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0HERCULES CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0HERC
ReturnHeader/Filer/EIN0870237696

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$62,543,395
Liabilities
$56,601,332
Net assets
$5,942,063
Revenue
$2,275,028
Expenses
$2,069,304
Net income
$205,724
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$69.4$63.3$6.18$2.31$2.29$0.02
2016Summary only. Only limited summary data is available for this year.$65.9$59.7$6.14$2.22$2.07$0.15
2015Detailed filing. Detailed filing data is available for this year.$62.5$56.6$5.94$2.28$2.07$0.21
2015Summary only. Only limited summary data is available for this year.$62.5$56.6$5.94$2.28$2.07$0.21
2014Summary only. Only limited summary data is available for this year.$59.1$53.4$5.74$2.24$1.94$0.30
2013Detailed filing. Detailed filing data is available for this year.$57.4$51.9$5.44$2.19$1.91$0.28
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$56.6$51.4$5.16$1.95
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$55.8$50.9$4.99$2.13
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$53.6$48.7$4.81$3.13