Civic Intelligence

Sierra Point Credit Union

990 • Fiscal year 2015 • EIN 94-1506588

Jan 01, 2015 to Dec 31, 2015 • Filed on May 10, 2016

Organization Profilewww.spcu.org

View Organization Page

365 South Spruce AvenueSouth San Francisco, CA 94080

(650) 588-6140

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.

2015 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2015

Liabilities / Revenue

62nd percentile

22.12x

Higher debt load relative to revenue than 62% of similar nonprofits.

2015 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2015

Net Margin

14th percentile

-1.6%

Higher net margin than 14% of similar nonprofits.

2015 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2015

Top Officer Pay

92nd percentile

$152,090

Higher top officer pay than 92% of similar nonprofits.

Top officer pay equals 13.3% of source-year revenue.

2015 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2015

Asset Growth

22nd percentile

-0.2%

Faster asset growth than 22% of similar nonprofits.

2015 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2014 to 2015

Revenue Growth

52nd percentile

1.5%

Faster revenue growth than 52% of similar nonprofits.

2015 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets89th percentile

Assets

Down

$27,581,512

Down $63,867 (-0.2%) from 2014

Net Assets

Down

$2,285,142

Down $15,826 (-0.7%) from 2014

Liabilities

Down

$25,296,370

Down $48,041 (-0.2%) from 2014

Revenue And Expenses
Liabilities / Revenue62nd percentileNet Margin14th percentile

Revenue

Up

$1,143,559

Up $16,670 (+1.5%) from 2014

Expenses

Down

$1,161,833

Down $152,431 (-12%) from 2014

Net Income

Up

-$18,274

Up $169,101 (+90%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth22nd percentile

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

$30M$20M$10M$0Assets 2010: $29,991,459Liabilities 2010: $26,692,851Net Assets 2010: $3,298,6082010Assets 2011: $27,381,806Liabilities 2011: $24,215,662Net Assets 2011: $3,166,1442011Assets 2012: $26,971,031Liabilities 2012: $24,046,326Net Assets 2012: $2,924,7052012Assets 2013: $27,924,543Liabilities 2013: $25,754,672Net Assets 2013: $2,169,8712013Assets 2014: $27,645,379Liabilities 2014: $25,344,411Net Assets 2014: $2,300,9682014Assets 2015: $27,581,512Liabilities 2015: $25,296,370Net Assets 2015: $2,285,1422015Assets 2016: $0Liabilities 2016: $0Net Assets 2016: $02016

Highlighted filing

2015

Assets$27,581,512
Liabilities$25,296,370
Net Assets$2,285,142
Open 2015 Filing

Operations Trend

Revenue Growth52nd percentile

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

$2.0M$1.0M$0-$1.0MExpenses 2010: $1,579,3342010Expenses 2011: $1,457,2832011Expenses 2012: $1,409,8162012Revenue 2013: $1,078,393Expenses 2013: $1,440,302Net Income 2013: -$361,9092013Revenue 2014: $1,126,889Expenses 2014: $1,314,264Net Income 2014: -$187,3752014Revenue 2015: $1,143,559Expenses 2015: $1,161,833Net Income 2015: -$18,2742015Revenue 2016: $528,089Expenses 2016: $1,178,608Net Income 2016: -$650,5192016

Highlighted filing

2015

Revenue$1,143,559
Expenses$1,161,833
Net Income-$18,274
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
May 10, 2016
Return Version
2015v2.0
Gross Receipts
$1,143,559
Mission and Program Overview

Mission

Sierra point credit union is a cooperative, organized for the purpose of promoting thrift and savings among its members, creating a source of credit for them at rates of interest set by the board of directors, and providing an opportunity for them to use and control their own money on a democratic basis in order to improve their economic and social conditions. As a coooperative, sierra point credit union conducts its business for the mutual benefit and general welfare of its members with the earnings, savings, benefits, or services of the credit union being distributed to its members as patrons.

Provide financial services and products to members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$14,920,272$13,239,918▼ $1,680,354
Investments Other Securities$5,391,717$8,854,440▲ $3,462,723
Savings and Temporary Cash Investments$4,283,212$3,145,727▼ $1,137,485
Rtn Earn Endowment Incm Other Fnds$2,300,968$2,285,142▼ $15,826
Land, Buildings, and Equipment, Net$1,461,088$1,403,552▼ $57,536
Prepaid Expenses and Deferred Charges$227,707$183,854▼ $43,853
Cash and Non-Interest-Bearing Accounts$167,831$154,305▼ $13,526
Accounts Receivable-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$27,645,379$27,581,512▼ $63,867
Other Assets Total$1,193,552$599,716▼ $593,836
Liabilities
Other Liabilities$25,223,486$25,279,836▲ $56,350
Accounts Payable and Accrued Expenses$120,925$16,534▼ $104,391
Total Liabilities$25,344,411$25,296,370▼ $48,041
Net Assets / Fund Balance
Total Net Assets Fund Balance$2,300,968$2,285,142▼ $15,826
Total Liabilities and Net Assets / Fund Balance$27,645,379$27,581,512▼ $63,867

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,136,245$512,186$1,648,431
Other Land Buildings$44,307$389,873$434,180
Land$223,000-$223,000
Compensation and Service Providers
Top Officer Pay92nd percentile

Employees

NameTitleBaseOtherTotal
Jill Faenza as of 1115President & CEO$138,280$13,810$152,090

Board Members and Trustees

NameTitle
Paul SturmChairperson
James KaestnerVice Chair
Johanna CollinsBoard Member
Ron RayaDirector
Tad PerilloDirector
Dee Anne ParonSecretary
Barbara CorriganTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$991,044
Investment Income
$150,827
Other Revenue
$1,688
Change in Net Assets
$-18,274
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$633,800
Other Expenses$528,033
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$351,733
Office Expenses---$225,833
Current Officers, Directors, Trustees, and Key Employees---$152,090
Other Employee Benefits---$129,977
Occupancy---$109,220
Other Expenses---$14,140
Interest---$11,027
Travel---$9,008
Advertising---$8,462
All Other Expenses---$-10,954
Total Functional Expenses$0$0$0$1,161,833
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 Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Member Shares$21,427,912
Member Deposits$3,851,924
Governance and Compliance

Governance Checklist

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

“Section 501c(14) Credit Union is composed of members.”

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

“Members vote on bylaw and charter changes. Members vote and elect Board members at annual meeting.”

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

“Mergers are voted on by entire membership.”

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

“Management reviews tax returns and forwards US Form 8879-EO to tax preparer. Board reviews filed tax returns at next scheduled meeting.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“Employee loans are Management approved. Management loans are Board approved. Loans to Board members are approved by the Board minus the lendee.”

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

“Credit union bylaws and conflict of interest policy are available upon request at the credit union's main office. Quarterly financial statements are displayed in the lobby which is accessible to the general public. Quarterly financial performance (Call) reports are also available at www.ncua.gov for all federally insured credit unions.”

Filing and Contact Details

Filer

Filer Name
Sierra Point Credit Union
EIN
94-1506588
Phone
6505886140
Address
365 South Spruce Avenue, South San Francisco, CA 94080

Signing Officer

Name
Jill Faenza as of 1115
Title
President & CEO
Signed
2016-05-10
Discuss with paid preparer
Yes

Organization Details

Formed
1954
Legal Domicile
CA
Voting Board Members
7
Independent Board Members
7
Employees
9
Volunteers
9

Preparer

Firm
Financial Standards Group Inc
Address
3615 NEWBURG RD, LOUISVILLE, KY 40218
Preparer
William Arvo CPA
Phone
8005225820
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt03794
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt160706
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt212631
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt3865660
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt448253
IRS990/ProgSrvcAccomActy2Grp/Desc0The Credit Union provides a variety of loans to members including real estate, credit card, vehicle and other. The total number of loans outstanding at 12/31/2015 was 1672.
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0135368
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0622051
IRS990/PYOtherRevenueAmt01829
IRS990/PYProgramServiceRevenueAmt0989692
IRS990/PYRevenuesLessExpensesAmt0-187375
IRS990/PYSalariesCompEmpBnftPaidAmt0692213
IRS990/PYTotalExpensesAmt01314264
IRS990/PYTotalRevenueAmt01126889
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-18274
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0true
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt02300968
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt02285142
IRS990/SavingsAndTempCashInvstGrp/BOYAmt04283212
IRS990/SavingsAndTempCashInvstGrp/EOYAmt03145727
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt01136245
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0512186
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01648431
IRS990ScheduleD/LandGrp/BookValueAmt0223000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0223000
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt044307
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0389873
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0434180
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt03851924
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt121427912
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Member Deposits
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Member Shares
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01403552
IRS990ScheduleD/TotalBookValueSecuritiesAmt08854440
IRS990ScheduleD/TotalLiabilityAmt025279836
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0138280
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt013810
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0Jill Faenza as of 1115
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0President & CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0152090
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Section 501c(14) Credit Union is composed of members.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Members vote on bylaw and charter changes. Members vote and elect Board members at annual meeting.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Mergers are voted on by entire membership.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Management reviews tax returns and forwards US Form 8879-EO to tax preparer. Board reviews filed tax returns at next scheduled meeting.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Employee loans are Management approved. Management loans are Board approved. Loans to Board members are approved by the Board minus the lendee.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Credit union bylaws and conflict of interest policy are available upon request at the credit union's main office. Quarterly financial statements are displayed in the lobby which is accessible to the general public. Quarterly financial performance (Call) reports are also available at www.ncua.gov for all federally insured credit unions.
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 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 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/TotalAssetsBOYAmt027645379
IRS990/TotalAssetsEOYAmt027581512
IRS990/TotalAssetsGrp/BOYAmt027645379
IRS990/TotalAssetsGrp/EOYAmt027581512
IRS990/TotalCompGreaterThan150KInd0true
IRS990/TotalContributionsAmt00
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IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt01161833
IRS990/TotalGrossUBIAmt01688
IRS990/TotalLiabilitiesBOYAmt025344411
IRS990/TotalLiabilitiesEOYAmt025296370
IRS990/TotalLiabilitiesGrp/BOYAmt025344411
IRS990/TotalLiabilitiesGrp/EOYAmt025296370
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02300968
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02285142
IRS990/TotalOtherCompensationAmt013810
IRS990/TotalProgramServiceRevenueAmt0991044
IRS990/TotalReportableCompFromOrgAmt0138280
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01141871
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01143559
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt01688
IRS990/TotalVolunteersCnt09
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt027645379
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt027581512
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/TotalAmt09008
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0true
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0www.spcu.org
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-09-27 15:27:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Jill Faenza as of 1115
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President & CEO
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-05-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Sierra Point Credit Union
ReturnHeader/Filer/BusinessNameControlTxt0SIER
ReturnHeader/Filer/EIN0941506588
ReturnHeader/Filer/PhoneNum06505886140
ReturnHeader/Filer/USAddress/AddressLine1Txt0365 South Spruce Avenue
ReturnHeader/Filer/USAddress/CityNm0South San Francisco
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CA
ReturnHeader/Filer/USAddress/ZIPCd094080
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0FINANCIAL STANDARDS GROUP INC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03615 NEWBURG RD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LOUISVILLE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0KY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd040218

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$27,581,512
Liabilities
$25,296,370
Net assets
$2,285,142
Revenue
$1,143,559
Expenses
$1,161,833
Net income
-$18,274
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2016Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.53$1.18$0.65
2015Detailed filing. Detailed filing data is available for this year.$27.6$25.3$2.29$1.14$1.16$0.02
2014Detailed filing. Detailed filing data is available for this year.$27.6$25.3$2.30$1.13$1.31$0.19
2013Detailed filing. Detailed filing data is available for this year.$27.9$25.8$2.17$1.08$1.44$0.36
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$27.0$24.0$2.92$1.41
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$27.4$24.2$3.17$1.46
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$30.0$26.7$3.30$1.58