Civic Intelligence

Financial Benefits Credit Union C/O Financial Partners Credit Union

990 • Fiscal year 2013 • EIN 94-0790807

Jan 01, 2013 to Dec 31, 2013 • Filed on Apr 02, 2014

Organization Profilewww.fbcu.net/asp/home

View Organization Page

1528 Webster StDowney, CA 94501

(510) 443-9200

Siviq Scores

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

Liabilities / Assets

89th percentile

0.92x

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

2013 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2013

Liabilities / Revenue

37th percentile

16.70x

Higher debt load relative to revenue than 37% of similar nonprofits.

2013 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2013

Net Margin

64th percentile

7.4%

Higher net margin than 64% of similar nonprofits.

2013 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2013

Top Officer Pay

97th percentile

$138,041

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 13.1% of source-year revenue.

2013 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2013

Asset Growth

18th percentile

-2.7%

Faster asset growth than 18% of similar nonprofits.

2013 filings • 501(c)14 • $10M-$25M nonprofits • Annualized from 2012 to 2013

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2013

Balance Sheet
Liabilities / Assets89th percentile

Assets

Down

$19,133,625

Down $536,055 (-2.7%) from 2012

Net Assets

Up

$1,574,074

Up $77,568 (+5.2%) from 2012

Liabilities

Down

$17,559,551

Down $613,623 (-3.4%) from 2012

Revenue And Expenses
Liabilities / Revenue37th percentileNet Margin64th percentile

Revenue

$1,051,492

No earlier filing loaded for comparison.

Expenses

Up

$973,924

Up $15,494 (+1.6%) from 2012

Net Income

$77,568

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth18th percentile

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

$30M$20M$10M$0Assets 2010: $19,338,450Liabilities 2010: $17,866,483Net Assets 2010: $1,471,9672010Assets 2011: $19,219,534Liabilities 2011: $17,765,308Net Assets 2011: $1,454,2262011Assets 2012: $19,669,680Liabilities 2012: $18,173,174Net Assets 2012: $1,496,5062012Assets 2013: $19,133,625Liabilities 2013: $17,559,551Net Assets 2013: $1,574,0742013Assets 2014: $18,851,992Liabilities 2014: $17,222,935Net Assets 2014: $1,629,0572014Assets 2015: $18,904,507Liabilities 2015: $17,305,330Net Assets 2015: $1,599,1772015Assets 2016: $20,391,540Liabilities 2016: $18,853,915Net Assets 2016: $1,537,6252016Assets 2017: $0Liabilities 2017: $0Net Assets 2017: $02017

Highlighted filing

2013

Assets$19,133,625
Liabilities$17,559,551
Net Assets$1,574,074
Open 2013 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$1.5M$1.0M$500K$0-$500KExpenses 2010: $1,114,8412010Expenses 2011: $1,000,5362011Expenses 2012: $958,4302012Revenue 2013: $1,051,492Expenses 2013: $973,924Net Income 2013: $77,5682013Revenue 2014: $987,156Expenses 2014: $932,173Net Income 2014: $54,9832014Revenue 2015: $895,796Expenses 2015: $925,676Net Income 2015: -$29,8802015Revenue 2016: $897,231Expenses 2016: $958,783Net Income 2016: -$61,5522016Revenue 2017: $699,225Expenses 2017: $971,853Net Income 2017: -$272,6282017

Highlighted filing

2013

Revenue$1,051,492
Expenses$973,924
Net Income$77,568
Open 2013 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Apr 2, 2014
Return Version
2013v3.1
Gross Receipts
$1,051,492
Mission and Program Overview

Mission

Financial Benefits Credit Union is a non-profit financial cooperative that provides financial services for their members including savings and loans. The mission of the credit union is to charge the least interest on their loans and pay the most for deposits to its members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$14,602,659$15,719,514▲ $1,116,855
Rtn Earn Endowment Incm Other Fnds$1,496,506$1,574,074▲ $77,568
Savings and Temporary Cash Investments$762,874$1,269,877▲ $507,003
Land, Buildings, and Equipment, Net$1,142,594$1,103,663▼ $38,931
Cash and Non-Interest-Bearing Accounts$2,727,650$845,047▼ $1,882,603
Accounts Receivable$44,303$43,773▼ $530
Total Assets$19,669,680$19,133,625▼ $536,055
Other Assets Total$389,600$151,751▼ $237,849
Liabilities
Other Liabilities$18,135,562$17,513,935▼ $621,627
Accounts Payable and Accrued Expenses$37,612$45,616▲ $8,004
Total Liabilities$18,173,174$17,559,551▼ $613,623
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,496,506$1,574,074▲ $77,568
Total Liabilities and Net Assets / Fund Balance$19,669,680$19,133,625▼ $536,055

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$853,745$94,470$948,215
Equipment$67,168$345,484$412,652
Land$182,750-$182,750
Compensation and Service Providers
Top Officer Pay97th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
John R SchafferPresident/CEOFT$116,274$21,767$138,041

Board Members and Trustees

NameTitle
DuBose ScarboroughBOD Chairman
Heather J P ZiemerVice President
Ben BussellDirector
Carl CamachoDirector
Robert SchaffDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,048,983
Investment Income
$2,509
Other Revenue
$0
Change in Net Assets
$77,568

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,051,492
Total Revenue per Audited Statements
$1,051,492
Total Revenue per Form 990
$1,051,492
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$505,448
Salaries, Compensation, and Employee Benefits$468,476
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$374,090--$374,090
Office Expenses$154,693--$154,693
Other Employee Benefits$94,386--$94,386
Fees for Services Other$91,239--$91,239
Information Technology$68,729--$68,729
Depreciation Depletion$36,938--$36,938
Other Expenses$30,666--$30,666
Occupancy$25,021--$25,021
Insurance$14,976--$14,976
Advertising$11,881--$11,881
Travel$6,474--$6,474
Conferences and Meetings$2,541--$2,541
Total Functional Expenses$973,924$0$0$973,924

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$973,924
Total Expenses per Audited Statements$973,924
Total Expenses per Form 990$973,924
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
Federal income taxes$17,513,935
members shares-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
No
Audit committee
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

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

“The prepared annual return is given to CEO to review before filing.”

Form 990, Part VI, Section C, Line 19

“Required documents are displayed in the Credit Union and accesible via internet at NCUA and DBO”

Form 990, Part VI, Section B, Line 12

“Annual supervisory committee audit is performed by independent CPA firm to make sure Credit Union is in compliance.”

Form 990, Part VI, Section B, Line 15B

“All compensation and annual increases for the CEO and key employess of the Credit Union are determined and approved by the Board of Directors.”

Form 990, Part VI, Section A, Line 6

“Credit Union has members within the field of membership approved by the Credit Union governing documents.”

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

“Member can attend the annual meeting and vote for volunteers.”

Filing and Contact Details

Filer

EIN
94-0790807
Phone
5104439200

Signing Officer

Name
John R Schaffner
Title
CEO
Signed
2014-04-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John Schaffner
Formed
1931
Legal Domicile
CA
Voting Board Members
6
Independent Board Members
4
Employees
0

Preparer

Preparer
Andrew V Topchiy CPA
Phone
9164246233
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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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The prepared annual return is given to CEO to review before filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Required documents are displayed in the Credit Union and accesible via internet at NCUA and DBO
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Annual supervisory committee audit is performed by independent CPA firm to make sure Credit Union is in compliance.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3All compensation and annual increases for the CEO and key employess of the Credit Union are determined and approved by the Board of Directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Credit Union has members within the field of membership approved by the Credit Union governing documents.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Member can attend the annual meeting and vote for volunteers.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section b, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section c, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section b, Line 12
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section b, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section a, Line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Section a, Line 7a
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0CA
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt019669680
IRS990/TotalAssetsEOYAmt019133625
IRS990/TotalAssetsGrp/BOYAmt019669680
IRS990/TotalAssetsGrp/EOYAmt019133625
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0973924
IRS990/TotalFunctionalExpensesGrp/TotalAmt0973924
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt018173174
IRS990/TotalLiabilitiesEOYAmt017559551
IRS990/TotalLiabilitiesGrp/BOYAmt018173174
IRS990/TotalLiabilitiesGrp/EOYAmt017559551
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01496506
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01574074
IRS990/TotalOtherCompensationAmt021767
IRS990/TotalProgramServiceExpensesAmt0973924
IRS990/TotalProgramServiceRevenueAmt01048983
IRS990/TotalReportableCompFromOrgAmt0116274
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01051492
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01051492
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt019669680
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt019133625
IRS990/TravelGrp/ProgramServicesAmt06474
IRS990/TravelGrp/TotalAmt06474
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine101528 Webster St
IRS990/USAddress/City0Alameda
IRS990/USAddress/State0CA
IRS990/USAddress/ZIPCode094604
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0www.fbcu.net/asp/home
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02015-11-30 17:44:51Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0John R Schaffner
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/SignatureDt02014-04-02
ReturnHeader/Filer/BusinessName/BusinessNameLine10Financial Benefits Credit Union
ReturnHeader/Filer/BusinessNameControlTxt0FINA
ReturnHeader/Filer/EIN0940790807
ReturnHeader/Filer/PhoneNum05104439200
ReturnHeader/Filer/USAddress/AddressLine101528 Webster St
ReturnHeader/Filer/USAddress/City0Alameda
ReturnHeader/Filer/USAddress/State0CA
ReturnHeader/Filer/USAddress/ZIPCode094501
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10Soler & Topchiy CPAs
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine10910 Florin Rd Suite 111
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0Sacramento
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode095831
ReturnHeader/PreparerPersonGrp/PhoneNum09164246233
ReturnHeader/PreparerPersonGrp/PreparationDt02014-04-02
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Andrew V Topchiy CPA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02014-04-02T02:10:02-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-01-01
ReturnHeader/TaxPeriodEndDt02013-12-31
ReturnHeader/TaxYr02013

Document Assets

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Filings

Displayed year

2013 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$19,133,625
Liabilities
$17,559,551
Net assets
$1,574,074
Revenue
$1,051,492
Expenses
$973,924
Net income
$77,568
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2017Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.70$0.97$0.27
2016Detailed filing. Detailed filing data is available for this year.$20.4$18.9$1.54$0.90$0.96$0.06
2015Detailed filing. Detailed filing data is available for this year.$18.9$17.3$1.60$0.90$0.93$0.03
2014Detailed filing. Detailed filing data is available for this year.$18.9$17.2$1.63$0.99$0.93$0.05
2013Detailed filing. Detailed filing data is available for this year.$19.1$17.6$1.57$1.05$0.97$0.08
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$19.7$18.2$1.50$0.96
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$19.2$17.8$1.45$1.00
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$19.3$17.9$1.47$1.11