Civic Intelligence

Prevail Credit Union

990 • Fiscal year 2011 • EIN 91-0556703

Jan 01, 2011 to Dec 31, 2011 • Filed on Jul 24, 2012

801 SECOND AVENUE Room No 10098104-1510
Siviq Scores

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Balance Sheet

Assets

Flat

$235,345,548

Flat from 2011

Net Assets

Flat

$19,436,924

Flat from 2011

Liabilities

Flat

$215,908,624

Flat from 2011

Revenue And Expenses

Revenue

-

No earlier filing loaded for comparison.

Expenses

Flat

$11,396,977

Flat from 2011

Net Income

-

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$300M$200M$100M$0Assets 2010: $233,522,431Liabilities 2010: $215,522,648Net Assets 2010: $17,999,7832010Assets 2011: $235,345,548Liabilities 2011: $215,908,624Net Assets 2011: $19,436,9242011Assets 2011: $235,345,548Liabilities 2011: $215,908,624Net Assets 2011: $19,436,9242011Assets 2012: $245,344,875Liabilities 2012: $222,542,222Net Assets 2012: $22,802,6532012

Highlighted filing

2011

Assets$235,345,548
Liabilities$215,908,624
Net Assets$19,436,924

Operations Trend

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

$15M$10M$5.0M$0Expenses 2010: $13,913,7902010Expenses 2011: $11,396,9772011Revenue 2011: $12,347,985Expenses 2011: $11,396,977Net Income 2011: $951,0082011Expenses 2012: $11,122,7802012

Highlighted filing

2011

Revenue-
Expenses$11,396,977
Net Income-
Jump To
Filing Snapshot
Filing Period
Jan 1, 2011 to Dec 31, 2011
Signed
Jul 24, 2012
Return Version
2011v1.2
Gross Receipts
$63,422,824
Filing and Contact Details

Filer

EIN
91-0556703
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IRS990ScheduleD/Form990ScheduleDPartXIV/Explanation0FASB ASC 740-10-25 CLARIFIES ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES REPORTED IN THE FINANCIAL STATEMENTS. THE INTERPRETATION PROVIDES CRITERIA FOR ASSESSMENT OF INDIVIDUAL TAX POSITIONS AND A PROCESS FOR RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. TAX POSITIONS ARE EVALUATED ON WHETHER THEY MEET THE MORE LIKELY THAN NOT STANDARD FOR SUSTAINABILITY UPON EXAMINATION BY TAX AUTHORITIES. AS A RESULT OF ADOPTING ASC 740-10-25, THE CREDIT UNION HAS ASSESSED ITS ACTIVITIES AND
IRS990ScheduleD/Form990ScheduleDPartXIV/Explanation1ANY POTENTIAL FEDERAL OR STATE INCOME TAX LIABILITY AND DETERMINED THAT THE CREDIT UNION HAS NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. ADDITIONALLY, NO INTEREST AND PENALTIES HAVE BEEN RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS RELATED TO UNCERTAIN TAX POSITIONS. CURRENTLY, THE 2010, 2009, AND 2008 FEDERAL INCOME TAX RETURNS ARE OPEN FOR EXAMINATION BY THE IRS.
IRS990ScheduleD/Form990ScheduleDPartXIV/Explanation2THE FILING YEARS OPEN FOR EXAMINATION BY THE STATE, IF APPLICABLE, MAY BE EQUAL TO, GREATER THAN OR LESS THAN THE YEARS OPEN FOR EXAMINATION BY THE IRS.
IRS990ScheduleD/Form990ScheduleDPartXIV/Explanation3RECLASSIFICATION ADJUSTMENTS FOR GAINS INCLUDED IN NET INCOME.
IRS990ScheduleD/Form990ScheduleDPartXIV/Explanation4THIS IS THE DIFFERENCE BETWEEN HOW THE CREDIT UNION CALCULATED GAINS/LOSSES ON SALE OF INVESTMENTS AND THE REPORTS FROM MORGAN KEEGAN. THE DIFFERENCE IS DEEMED IMMATERIAL AND NO ADJUSTMENT WAS POSTED TO THE AUDITED FINANCIAL STATEMENTS. HOWEVER, FOR THE PURPOSES OF THE FORM 990, THE MORGAN KEEGAN REPORT WAS UTILIZED.
IRS990ScheduleD/Form990ScheduleDPartXIV/Explanation5LOSS ON SALE OF OTHER REAL ESTATE OWNED.
IRS990ScheduleD/Form990ScheduleDPartXIV/Explanation6THIS IS THE DIFFERENCE BETWEEN HOW THE CREDIT UNION CALCULATED GAINS/LOSSES ON SALE OF INVESTMENTS AND THE REPORTS FROM MORGAN KEEGAN. THE DIFFERENCE IS DEEMED IMMATERIAL AND NO ADJUSTMENT WAS POSTED TO THE AUDITED FINANCIAL STATEMENTS. HOWEVER, FOR THE PURPOSES OF THE FORM 990, THE MORGAN KEEGAN REPORT WAS UTILIZED.
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IRS990ScheduleJ/Form990ScheduleJPartII/BonusFilingOrg07500
IRS990ScheduleJ/Form990ScheduleJPartII/BonusFilingOrg1200

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