Civic Intelligence

San Francisco Bay Area Educators Credit Union

990 • Fiscal year 2019 • EIN 94-1521282

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 02, 2020

Organization Profilewww.sfbayedcu.org

View Organization Page

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.

2019 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2019

Liabilities / Revenue

88th percentile

24.29x

Higher debt load relative to revenue than 88% of similar nonprofits.

2019 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2019

Net Margin

4th percentile

-12%

Higher net margin than 4% of similar nonprofits.

2019 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2019

Top Officer Pay

81st percentile

$103,050

Higher top officer pay than 81% of similar nonprofits.

Top officer pay equals 15.7% of source-year revenue.

2019 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2019

Asset Growth

8th percentile

-5.6%

Faster asset growth than 8% of similar nonprofits.

2019 filings • 501(c)14 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Revenue Growth

10th percentile

-2.7%

Faster revenue growth than 10% of similar nonprofits.

2019 filings • 501(c)14 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets96th percentile

Assets

Down

$17,187,697

Down $1,018,105 (-5.6%) from 2018

Net Assets

Down

$1,277,264

Down $76,786 (-5.7%) from 2018

Liabilities

Down

$15,910,433

Down $941,319 (-5.6%) from 2018

Revenue And Expenses
Liabilities / Revenue88th percentileNet Margin4th percentile

Revenue

Down

$655,014

Down $18,237 (-2.7%) from 2018

Expenses

Up

$731,800

Up $44,884 (+6.5%) from 2018

Net Income

Down

-$76,786

Down $63,121 (-462%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth8th percentile

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

2019

Assets$17,187,697
Liabilities$15,910,433
Net Assets$1,277,264
Open 2019 Filing

Operations Trend

Revenue Growth10th percentile

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

2019

Revenue$655,014
Expenses$731,800
Net Income-$76,786
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 2, 2020
Return Version
2019v5.0
Gross Receipts
$655,014
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
Investments Program Related$7,086,965$7,236,965▲ $150,000
Other Notes and Loans Receivable, Net$7,541,213$6,038,440▼ $1,502,773
Land, Buildings, and Equipment, Net$1,851,869$1,811,731▼ $40,138
Savings and Temporary Cash Investments$1,308,223$1,651,231▲ $343,008
Rtn Earn Endowment Incm Other Fnds$1,354,050$1,277,264▼ $76,786
Receivables From Officers Etc$175,503$169,073▼ $6,430
Cash and Non-Interest-Bearing Accounts$17,073$57,073▲ $40,000
Prepaid Expenses and Deferred Charges$28,048$20,532▼ $7,516
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$18,205,802$17,187,697▼ $1,018,105
Other Assets Total$196,908$202,652▲ $5,744
Liabilities
Other Liabilities$16,745,743$15,793,622▼ $952,121
Accounts Payable and Accrued Expenses$106,009$116,811▲ $10,802
Total Liabilities$16,851,752$15,910,433▼ $941,319
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,354,050$1,277,264▼ $76,786
Total Liabilities and Net Assets / Fund Balance$18,205,802$17,187,697▼ $1,018,105

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$665,687$36,983$702,670
Land$702,670-$702,670
Leasehold Improvements$401,240$20,417$421,657
Other Land Buildings$42,134$59,541$101,675
Compensation and Service Providers
Top Officer Pay81st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Victoria FongCEOFT$98,850$4,200$103,050

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$377,068
Investment Income
$197,303
Other Revenue
$80,643
Change in Net Assets
$-76,786
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$536,672
Salaries, Compensation, and Employee Benefits$193,194
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Office Expenses---$182,172
Fees for Services Other---$139,754
Current Officers, Directors, Trustees, and Key Employees---$103,050
Other Salaries and Wages---$90,144
Occupancy---$67,989
Other Expenses---$4,716
Benefits to Members---$1,934
Advertising---$829
Total Functional Expenses$0$0$0$731,800
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$175,503$169,073▼ $6,430
Receivables from Disqualified Persons-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Regular Shares$10,958,305
Share Drafts$3,087,194
IRA/KEOGH Accounts$1,704,534
Share Certificates$43,589
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 35% controlled entity
No
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
2020-11-02
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
5
Volunteers
9

Preparer

Firm
Richards & Associates
Address
21520 YORBA LINDA BLVD G-516, YORBA LINDA, CA 92887
Preparer
Richards Associates CPAs
Phone
7142876713
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt020532
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IRS990/PYOtherRevenueAmt0100832
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IRS990/ReportProgramRelatedInvstInd0true
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt036983
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IRS990ScheduleD/LandGrp/BookValueAmt0702670
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0702670
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0401240
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt020417
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0421657
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt042134
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt059541
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0101675
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01704534
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt110958305
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt243589
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt33087194
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0IRA/KEOGH Accounts
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Regular Shares
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Share Certificates
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3Share Drafts
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01811731
IRS990ScheduleD/TotalBookValueProgramRltdAmt07236965
IRS990ScheduleD/TotalLiabilityAmt015793622
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt0169073
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt1Credit card
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt0200000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt115000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0Steven Edwards
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm1Tim Tindol
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0Board Chair
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt1Board Treas
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd1true
IRS990ScheduleL/TotalBalanceDueAmt0169073
IRS990/ScheduleORequiredInd0true
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/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
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IRS990/TotalReportableCompFromOrgAmt098850
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0655014
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt017187697
IRS990/TravelGrp/TotalAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0851 Vanness Ave
IRS990/USAddress/CityNm0San Francisco
IRS990/USAddress/StateAbbreviationCd0CA
IRS990/USAddress/ZIPCd094109
IRS990/VotingMembersGoverningBodyCnt07
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IRS990/WebsiteAddressTxt0www.sfbayedcu.org
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02021-04-22 16:20:28Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Victoria Fong
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-11-02
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0San Francisco Bay Area Educators
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0Credit Union
ReturnHeader/Filer/BusinessNameControlTxt0SANF
ReturnHeader/Filer/EIN0941521282
ReturnHeader/Filer/PhoneNum04156644313
ReturnHeader/Filer/USAddress/AddressLine1Txt0851 Vanness Ave

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$17,187,697
Liabilities
$15,910,433
Net assets
$1,277,264
Revenue
$655,014
Expenses
$731,800
Net income
-$76,786
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2020Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.09$0.08$0.01
2019Detailed filing. Detailed filing data is available for this year.$17.2$15.9$1.28$0.66$0.73$0.08
2018Detailed filing. Detailed filing data is available for this year.$18.2$16.9$1.35$0.67$0.69$0.01
2017Detailed filing. Detailed filing data is available for this year.$18.4$17.0$1.37$0.65$0.65$0.00
2016Detailed filing. Detailed filing data is available for this year.$18.7$17.3$1.36$0.64$0.63$0.01
2015Detailed filing. Detailed filing data is available for this year.$19.1$17.7$1.36$0.64$0.69$0.05
2014Detailed filing. Detailed filing data is available for this year.$19.2$17.8$1.40$0.64$0.63$0.00
2013Detailed filing. Detailed filing data is available for this year.$18.8$17.4$1.40$0.67$0.67$0.00
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$19.7$18.3$1.40$0.75
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$19.8$18.3$1.49$0.80
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$21.4$19.9$1.54$0.79