Civic Intelligence

Hercules Credit Union

990 • Fiscal year 2017 • EIN 87-0237696

Jan 01, 2017 to Dec 31, 2017 • Filed on Mar 24, 2018

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

81st percentile

0.91x

Higher debt load relative to assets than 81% of similar nonprofits.

2017 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2017

Liabilities / Revenue

92nd percentile

27.37x

Higher debt load relative to revenue than 92% of similar nonprofits.

2017 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2017

Net Margin

16th percentile

0.8%

Higher net margin than 16% of similar nonprofits.

2017 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2017

Top Officer Pay

43rd percentile

$130,200

Higher top officer pay than 43% of similar nonprofits.

Top officer pay equals 5.6% of source-year revenue.

2017 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2017

Asset Growth

75th percentile

5.4%

Faster asset growth than 75% of similar nonprofits.

2017 filings • 501(c)14 • $50M-$100M nonprofits • Annualized from 2016 to 2017

Revenue Growth

38th percentile

3.9%

Faster revenue growth than 38% of similar nonprofits.

2017 filings • 501(c)14 • $50M-$100M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets81st percentile

Assets

Up

$69,437,066

Up $3,546,204 (+5.4%) from 2016

Net Assets

Up

$6,180,301

Up $38,139 (+0.6%) from 2016

Liabilities

Up

$63,256,765

Up $3,508,065 (+5.9%) from 2016

Revenue And Expenses
Liabilities / Revenue92nd percentileNet Margin16th percentile

Revenue

Up

$2,311,013

Up $86,022 (+3.9%) from 2016

Expenses

Up

$2,292,769

Up $217,948 (+11%) from 2016

Net Income

Down

$18,244

Down $131,926 (-88%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth75th 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 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

2017

Assets$69,437,066
Liabilities$63,256,765
Net Assets$6,180,301
Open 2017 Filing

Operations Trend

Revenue Growth38th 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 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

2017

Revenue$2,311,013
Expenses$2,292,769
Net Income$18,244
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Mar 24, 2018
Return Version
2017v2.2
Gross Receipts
$2,311,013
Mission and Program Overview

Mission

NON-PROFIT CREDIT UNION

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$26,939,313$34,539,833▲ $7,600,520
Savings and Temporary Cash Investments$34,761,622$30,631,055▼ $4,130,567
Rtn Earn Endowment Incm Other Fnds$6,142,162$6,180,301▲ $38,139
Land, Buildings, and Equipment, Net$830,800$801,175▼ $29,625
Receivables From Officers Etc$575,982$562,351▼ $13,631
Cash and Non-Interest-Bearing Accounts$327,590$225,256▼ $102,334
Prepaid Expenses and Deferred Charges$118,211$165,729▲ $47,518
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$65,890,862$69,437,066▲ $3,546,204
Other Assets Total$2,327,344$2,501,667▲ $174,323
Liabilities
Other Liabilities$59,662,928$62,624,755▲ $2,961,827
Mortgage Notes Payable Secured by Investment Property-$604,333-
Accounts Payable and Accrued Expenses$85,772$27,677▼ $58,095
Total Liabilities$59,748,700$63,256,765▲ $3,508,065
Net Assets / Fund Balance
Total Net Assets Fund Balance$6,142,162$6,180,301▲ $38,139
Total Liabilities and Net Assets / Fund Balance$65,890,862$69,437,066▲ $3,546,204

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$240,214$645,219$885,433
Buildings$80,861$622,933$703,794
Leasehold Improvements$329,864-$329,864
Land$150,236-$150,236
Compensation and Service Providers
Top Officer Pay43rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Brett M BlackburnPresidentFT$130,200$130,200

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
$2,311,013
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$18,244

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,311,013
Total Revenue per Audited Statements
$2,311,013
Total Revenue per Form 990
$2,311,013
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,370,036
Salaries, Compensation, and Employee Benefits$922,733
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$604,319--$604,319
Interest$336,252--$336,252
Office Expenses$298,916--$298,916
Other Employee Benefits$135,147--$135,147
Current Officers, Directors, Trustees, and Key Employees$130,200--$130,200
Occupancy$103,999--$103,999
Depreciation Depletion$78,261--$78,261
Advertising$74,257--$74,257
Payroll Taxes$53,067--$53,067
Conferences and Meetings$12,268--$12,268
Travel$5,311--$5,311
Other Expenses$2,846--$2,846
Total Functional Expenses$2,292,769$0$0$2,292,769

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,292,769
Total Expenses per Audited Statements$2,292,769
Total Expenses per Form 990$2,292,769
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees$575,982$562,351▼ $13,631
Receivables from Disqualified Persons-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Member Shares and Certificates$62,624,755
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
2018-03-24
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
8012857412
Supplemental Narrative

Additional Explanations

Other Changes In Net Assets Or Fund Balances - Other Increases

“Net change in unrealized otti on securities = $19894”

Other Changes In Net Assets Or Fund Balances - Other Increases

“Rounding = $1”

Raw XML AppendixShowing 400 of 420 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/ProgramServiceRevenueGrp/BusinessCd0522200
IRS990/ProgramServiceRevenueGrp/BusinessCd1522291
IRS990/ProgramServiceRevenueGrp/BusinessCd2522100
IRS990/ProgramServiceRevenueGrp/BusinessCd3522299
IRS990/ProgramServiceRevenueGrp/Desc0FEES AND CHARGES INCOME
IRS990/ProgramServiceRevenueGrp/Desc1INCOME FROM LOANS
IRS990/ProgramServiceRevenueGrp/Desc2INVESTMENT INCOME
IRS990/ProgramServiceRevenueGrp/Desc3MISCELLANEOUS INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0220861
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt11223237
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2727809
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt3139106
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0220861
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt11223237
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2727809
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt3139106
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt01180674
IRS990/PYProgramServiceRevenueAmt02224991
IRS990/PYRevenuesLessExpensesAmt0150170
IRS990/PYSalariesCompEmpBnftPaidAmt0894147
IRS990/PYTotalExpensesAmt02074821
IRS990/PYTotalRevenueAmt02224991
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt0575982
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt0562351
IRS990/ReconcilationRevenueExpnssAmt018244
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt02311013
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt06142162
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt06180301
IRS990/SavingsAndTempCashInvstGrp/BOYAmt034761622
IRS990/SavingsAndTempCashInvstGrp/EOYAmt030631055
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt080861
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0622933
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0703794
IRS990ScheduleD/EquipmentGrp/BookValueAmt0240214
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0645219
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0885433
IRS990ScheduleD/ExpensesSubtotalAmt02292769
IRS990ScheduleD/LandGrp/BookValueAmt0150236
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0150236
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0329864
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0329864
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt062624755
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MEMBER SHARES AND CERTIFICATES
IRS990ScheduleD/RevenueSubtotalAmt02311013
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0801175
IRS990ScheduleD/TotalExpensesPerForm990Amt02292769
IRS990ScheduleD/TotalLiabilityAmt062624755
IRS990ScheduleD/TotalRevenuePerForm990Amt02311013
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02311013
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02292769
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt0562351
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd0true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0HE/V/DC
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt0942076
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0AS A GROUP
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0DIRECTOR
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd0true
IRS990ScheduleL/TotalBalanceDueAmt0562351
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/ExplanationTxt5NET CHANGE IN UNREALIZED OTTI ON SECURITIES = $19894
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Rounding = $1
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Other Changes In Net Assets Or Fund Balances - Other Increases
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Other Changes In Net Assets Or Fund Balances - Other Increases
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt065890862
IRS990/TotalAssetsEOYAmt069437066
IRS990/TotalAssetsGrp/BOYAmt065890862
IRS990/TotalAssetsGrp/EOYAmt069437066
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt015
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02292769
IRS990/TotalFunctionalExpensesGrp/TotalAmt02292769
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt059748700
IRS990/TotalLiabilitiesEOYAmt063256765
IRS990/TotalLiabilitiesGrp/BOYAmt059748700
IRS990/TotalLiabilitiesGrp/EOYAmt063256765
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt06142162
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt06180301
IRS990/TotalProgramServiceExpensesAmt02292769
IRS990/TotalProgramServiceRevenueAmt02311013
IRS990/TotalReportableCompFromOrgAmt0130200
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt02311013
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02311013
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt065890862
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt069437066
IRS990/TravelGrp/ProgramServicesAmt05311
IRS990/TravelGrp/TotalAmt05311
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/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0BRETT M BLACKBURN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-03-24
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0HERCULES CREDIT UNION

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$69,437,066
Liabilities
$63,256,765
Net assets
$6,180,301
Revenue
$2,311,013
Expenses
$2,292,769
Net income
$18,244
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2017Detailed filing. Detailed filing data is available for this year.$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
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