Civic Intelligence

San Francisco Bay Area Educators Credit Union

990 • Fiscal year 2018 • EIN 94-1521282

Jan 01, 2018 to Dec 31, 2018 • Filed on Aug 08, 2019

851 Vanness AveSan Francisco, CA 94109

(415) 664-4313

Siviq Scores

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

Liabilities / Assets

96th percentile

0.93x

Higher debt load relative to assets than 96% of similar nonprofits.

2018 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2018

Liabilities / Revenue

83rd percentile

25.03x

Higher debt load relative to revenue than 83% of similar nonprofits.

2018 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2018

Net Margin

13th percentile

-2.0%

Higher net margin than 13% of similar nonprofits.

2018 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2018

Top Officer Pay

63rd percentile

$83,750

Higher top officer pay than 63% of similar nonprofits.

Top officer pay equals 12.4% of source-year revenue.

2018 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2018

Asset Growth

42nd percentile

-1.0%

Faster asset growth than 42% of similar nonprofits.

2018 filings • 501(c)14 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Revenue Growth

16th percentile

2.8%

Faster revenue growth than 16% of similar nonprofits.

2018 filings • 501(c)14 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Assets

Down

$18,205,802

Down $184,156 (-1.0%) from 2017

Net Assets

Down

$1,354,050

Down $14,065 (-1.0%) from 2017

Liabilities

Down

$16,851,752

Down $170,091 (-1.0%) from 2017

Revenue

Up

$673,251

Up $18,589 (+2.8%) from 2017

Expenses

Up

$686,916

Up $36,498 (+5.6%) from 2017

Net Income

Down

-$13,665

Down $17,909 (-422%) from 2017

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0Assets 2010: $21,431,399Liabilities 2010: $19,893,369Net Assets 2010: $1,538,0302010Assets 2011: $19,823,030Liabilities 2011: $18,331,154Net Assets 2011: $1,491,8762011Assets 2012: $19,684,507Liabilities 2012: $18,282,481Net Assets 2012: $1,402,0262012Assets 2013: $18,789,044Liabilities 2013: $17,388,792Net Assets 2013: $1,400,2522013Assets 2014: $19,232,698Liabilities 2014: $17,828,799Net Assets 2014: $1,403,8992014Assets 2015: $19,095,138Liabilities 2015: $17,739,467Net Assets 2015: $1,355,6712015Assets 2016: $18,713,455Liabilities 2016: $17,349,984Net Assets 2016: $1,363,4712016Assets 2017: $18,389,958Liabilities 2017: $17,021,843Net Assets 2017: $1,368,1152017Assets 2018: $18,205,802Liabilities 2018: $16,851,752Net Assets 2018: $1,354,0502018Assets 2019: $17,187,697Liabilities 2019: $15,910,433Net Assets 2019: $1,277,2642019Assets 2020: $0Net Assets 2020: $02020

Highlighted filing

2018

Assets$18,205,802
Liabilities$16,851,752
Net Assets$1,354,050

Operations Trend

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

$1.0M$500K$0-$500KExpenses 2010: $791,0942010Expenses 2011: $796,2702011Expenses 2012: $745,5412012Revenue 2013: $669,661Expenses 2013: $671,435Net Income 2013: -$1,7742013Revenue 2014: $638,166Expenses 2014: $634,519Net Income 2014: $3,6472014Revenue 2015: $641,785Expenses 2015: $690,013Net Income 2015: -$48,2282015Revenue 2016: $640,671Expenses 2016: $632,871Net Income 2016: $7,8002016Revenue 2017: $654,662Expenses 2017: $650,418Net Income 2017: $4,2442017Revenue 2018: $673,251Expenses 2018: $686,916Net Income 2018: -$13,6652018Revenue 2019: $655,014Expenses 2019: $731,800Net Income 2019: -$76,7862019Revenue 2020: $89,787Expenses 2020: $83,254Net Income 2020: $6,5332020

Highlighted filing

2018

Revenue$673,251
Expenses$686,916
Net Income-$13,665
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Aug 8, 2019
Return Version
2018v3.1
Gross Receipts
$673,251
Mission and Program Overview

Mission

Non-profit, State-chartered, Natural Person Credit Union. Provide competitive financial services to the members of San Francisco Bay Area Educators Credit Union.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$8,809,057$7,541,213▼ $1,267,844
Investments Program Related$5,541,965$7,086,965▲ $1,545,000
Land, Buildings, and Equipment, Net$1,870,444$1,851,869▼ $18,575
Rtn Earn Endowment Incm Other Fnds$1,368,115$1,354,050▼ $14,065
Savings and Temporary Cash Investments$1,101,866$1,308,223▲ $206,357
Receivables From Officers Etc$610,442$175,503▼ $434,939
Prepaid Expenses and Deferred Charges$38,228$28,048▼ $10,180
Cash and Non-Interest-Bearing Accounts$2$17,073▲ $17,071
Accounts Receivable-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Investments Other Securities-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$18,190,785$18,205,802▲ $15,017
Other Assets Total$218,781$196,908▼ $21,873
Liabilities
Other Liabilities$16,890,071$16,745,743▼ $144,328
Accounts Payable and Accrued Expenses$-67,401$106,009▲ $173,410
Total Liabilities$16,822,670$16,851,752▲ $29,082
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,368,115$1,354,050▼ $14,065
Total Liabilities and Net Assets / Fund Balance$18,190,785$18,205,802▲ $15,017

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$683,439$19,231$702,670
Land$702,670-$702,670
Leasehold Improvements$411,892$9,765$421,657
Other Land Buildings$53,868$47,807$101,675
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Victoria FongCEOFT$62,550$21,200$83,750

Board Members and Trustees

NameTitle
Steven EdwardsBD Chairman
Linda PlackSC Chairman
Owen RavenBD Vice Chairma
Emily SparkhulBD Director
Judith GradyBD Director
Robert FeslerBoard Director
JoAnn VailBoard Secretary
Timothy TindolBD Treasurer
Emily MortonCEO
Ken GradySC member
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$451,423
Investment Income
$120,996
Other Revenue
$100,832
Change in Net Assets
$-13,665
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$494,117
Salaries, Compensation, and Employee Benefits$189,721
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Office Expenses---$183,317
Fees for Services Other---$170,471
Other Salaries and Wages---$105,971
Current Officers, Directors, Trustees, and Key Employees---$83,750
Occupancy---$59,611
Other Expenses---$4,305
Benefits to Members---$3,078
Advertising---$2,179
Total Functional Expenses$0$0$0$686,916
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$610,442$175,503▼ $434,939
Receivables from Disqualified Persons-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Regular Shares$11,622,769
Share Drafts$3,115,473
IRA/KEOGH Accounts$1,919,384
Share Certificates$86,218
All Other Shares$1,899
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
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
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

Members.

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

The return preparer e-mails a draft of the form 990 to a designated officer and/or ceo of the credit union for review. The designated officer and/or ceo sends a copy to the board of director (s). The designated individual(s) review the draft and present any questions, comments, or corrections to the return preparer. Upon satisfactory completion of the form 990, the organization's authorized individual signs the appropriate signature form(s) to authorize the electronic filing of the return. A copy of the form 990, as filed, is provided by the return preparer to theorganization's ceo or other designated individual(s).

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

Yes, the process for determining compensation of the CEO includes a review and approval by independent persons, comparability data, and contemporaneous substantiation of the deliberation and decision.

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

Financial statements are posted in the lobby. Financials and other information are available at NCUA website.

Filing and Contact Details

Filer

Filer Name
San Francisco Bay Area Educators
EIN
94-1521282
Phone
4156644313
Address
851 Vanness Ave, San Francisco, CA 94109

Signing Officer

Name
Victoria Fong
Title
CEO
Signed
2019-08-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Victoria Fong
Formed
1955
Legal Domicile
CA
Voting Board Members
7
Independent Board Members
7
Employees
7
Volunteers
9

Preparer

Firm
Richards & Associates
Address
21520 YORBA LINDA BLVD G-516, YORBA LINDA, CA 92887
Preparer
Richards Associates CPAs
Phone
7142876713
Supplemental Narrative

Additional Explanations

Other Changes In Net Assets Or Fund Balances - Other Decreases

= -$400

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IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt038228
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt028048
IRS990/PrincipalOfficerNm0Victoria Fong
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IRS990/PYOtherRevenueAmt089352
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IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0702670
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IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt09765
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0421657
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt053868
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IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0101675
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01899
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Regular Shares
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3Share Certificates
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc4Share Drafts
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IRS990ScheduleD/TotalBookValueProgramRltdAmt07086965
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0Steven Edwards
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm1Tim Tindol
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0Brd Mbr
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt1Board member
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Members.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE RETURN PREPARER E-MAILS A DRAFT OF THE FORM 990 TO A DESIGNATED OFFICER AND/OR CEO OF THE CREDIT UNION FOR REVIEW. THE DESIGNATED OFFICER AND/OR CEO SENDS A COPY TO THE BOARD OF DIRECTOR (S). THE DESIGNATED INDIVIDUAL(S) REVIEW THE DRAFT AND PRESENT ANY QUESTIONS, COMMENTS, OR CORRECTIONS TO THE RETURN PREPARER. UPON SATISFACTORY COMPLETION OF THE FORM 990, THE ORGANIZATION'S AUTHORIZED INDIVIDUAL SIGNS THE APPROPRIATE SIGNATURE FORM(S) TO AUTHORIZE THE ELECTRONIC FILING OF THE RETURN. A COPY OF THE FORM 990, AS FILED, IS PROVIDED BY THE RETURN PREPARER TO THEORGANIZATION'S CEO OR OTHER DESIGNATED INDIVIDUAL(S).
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Yes, the process for determining compensation of the CEO includes a review and approval by independent persons, comparability data, and contemporaneous substantiation of the deliberation and decision.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Financial statements are posted in the lobby. Financials and other information are available at NCUA website.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4= -$400
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Other Changes In Net Assets Or Fund Balances - Other Decreases
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0673251
IRS990/TotalVolunteersCnt09

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