Civic Intelligence

MID-Cities Financial Credit Union

990 • Fiscal year 2012 • EIN 95-1561268

Jan 01, 2012 to Dec 31, 2012 • Filed on Nov 04, 2013

Organization Profilewww.midcitiescu.org

View Organization Page

325 S Santa Fe Avenue90221-3242
Siviq Scores

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

Liabilities / Assets

18th percentile

0.78x

Higher debt load relative to assets than 18% of similar nonprofits.

2012 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2012

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2012

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on this filing.

Source year 2012

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2012

Asset Growth

20th percentile

0.0%

Faster asset growth than 20% of similar nonprofits.

2012 filings • 501(c)14 • $10M-$25M nonprofits • Annualized from 2011 to 2012

Revenue Growth

Score unavailable

No value available

No valid filing value is available for this score.

Balance Sheet
Liabilities / Assets18th percentile

Assets

Up

$23,423,494

Up $4,546 (+0.0%) from 2011

Net Assets

Up

$5,123,813

Up $215,897 (+4.4%) from 2011

Liabilities

Down

$18,299,681

Down $211,351 (-1.1%) from 2011

Revenue And Expenses
Liabilities / RevenueScore unavailableNet MarginScore unavailable

Revenue

-

No earlier filing loaded for comparison.

Expenses

Down

$1,521,422

Down $391,905 (-20%) from 2011

Net Income

-

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth20th percentile

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

$30M$20M$10M$0Assets 2010: $24,114,095Liabilities 2010: $18,965,911Net Assets 2010: $5,148,1842010Assets 2011: $23,418,948Liabilities 2011: $18,511,032Net Assets 2011: $4,907,9162011Assets 2012: $23,423,494Liabilities 2012: $18,299,681Net Assets 2012: $5,123,8132012Assets 2013: $22,313,079Liabilities 2013: $17,331,293Net Assets 2013: $4,981,7862013Assets 2014: $22,573,437Liabilities 2014: $17,911,774Net Assets 2014: $4,661,6632014Assets 2015: $22,087,731Liabilities 2015: $17,358,596Net Assets 2015: $4,729,1352015Assets 2016: $20,417,540Liabilities 2016: $17,460,937Net Assets 2016: $2,956,6032016Assets 2017: $19,770,045Liabilities 2017: $17,842,135Net Assets 2017: $1,927,9102017Assets 2018: $19,275,443Liabilities 2018: $17,237,707Net Assets 2018: $2,037,7362018Assets 2019: $18,693,113Liabilities 2019: $16,518,564Net Assets 2019: $2,174,5492019Assets 2024: $17,556,502Liabilities 2024: $16,290,948Net Assets 2024: $1,265,5542024

Highlighted filing

2012

Assets$23,423,494
Liabilities$18,299,681
Net Assets$5,123,813
Open 2012 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$4.0M$2.0M$0-$2.0MExpenses 2010: $2,093,4432010Expenses 2011: $1,913,3272011Expenses 2012: $1,521,4222012Revenue 2013: $1,701,112Expenses 2013: $1,689,362Net Income 2013: $11,7502013Revenue 2014: $2,114,277Expenses 2014: $2,548,278Net Income 2014: -$434,0012014Revenue 2015: $1,993,808Expenses 2015: $1,954,663Net Income 2015: $39,1452015Revenue 2016: $1,730,897Expenses 2016: $3,543,009Net Income 2016: -$1,812,1122016Revenue 2017: $1,510,652Expenses 2017: $2,539,345Net Income 2017: -$1,028,6932017Revenue 2018: $1,331,024Expenses 2018: $1,221,197Net Income 2018: $109,8272018Revenue 2019: $1,253,487Expenses 2019: $1,169,473Net Income 2019: $84,0142019Revenue 2024: $1,055,969Expenses 2024: $1,358,468Net Income 2024: -$302,4992024

Highlighted filing

2012

Revenue-
Expenses$1,521,422
Net Income-
Open 2012 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2012 to Dec 31, 2012
Signed
Nov 4, 2013
Return Version
2012v2.1
Gross Receipts
$1,743,472
Mission and Program Overview

Mission

A cooperative organized for the purpose of promoting thrift and savingsa among its members.

Major Activities

Activity 2
Members used approximately $18,019,037 in gross amounts of the credit union's savings programs.
Activity 3
Members used our cash operations to cash checks and obtain cash for their individual needs.
Filing and Contact Details

Filer

EIN
95-1561268
Raw XML Appendix391 raw XML fields

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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IRS990/Activity2/Description0MEMBERS USED APPROXIMATELY $18,019,037 IN GROSS AMOUNTS OF THE CREDIT UNION'S SAVINGS PROGRAMS.
IRS990/Activity3/Description0MEMBERS USED OUR CASH OPERATIONS TO CASH CHECKS AND OBTAIN CASH FOR THEIR INDIVIDUAL NEEDS.
IRS990/ActivityOrMissionDescription0A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS.
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IRS990/Form990PartVIISectionA/NamePerson2CHERYL MATTHEWS
IRS990/Form990PartVIISectionA/NamePerson3PALMETTA SCOTT
IRS990/Form990PartVIISectionA/NamePerson4FRED EASTER
IRS990/Form990PartVIISectionA/NamePerson5CHARLES MOORE
IRS990/Form990PartVIISectionA/NamePerson6BARBARA BANKS
IRS990/Form990PartVIISectionA/NamePerson7DOROTHY PLUMMER-JONES
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IRS990/Form990PartVIISectionA/Title6DIRECTOR
IRS990/Form990PartVIISectionA/Title7SUPV COMMITTEE CHAIR
IRS990/Form990PartVIISectionA/Title8SUPV COMMITTEE MEMBER
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IRS990/MissionDescription0MID CITIES 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 COOPERATIVE, MID CITIES CREDIT UNION CONDUCTS ITS BUSINESS FOR THE MUTUAL BENEFIT AND GENERAL WELFARE OF ITS MEMBERS WITH THE EARNINGS, SAVINGS, BENEFIT, OR SERVICE OF THE CREDIT UNION BEING DISTRIBUTED TO ITS MEMBERS AS PATRONS.
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IRS990ScheduleD/FootnoteInPartXIII0X
IRS990ScheduleD/Form990ScheduleDPartXIII/Explanation0FASB ASC 740-10-65, INCOME TAXES, PROVIDES GUIDANCE FOR HOW UNCERTAIN TAX POSITIONS SHOULD BE RECOGNIZED, MEASURED, DISCLOSED AND PRESENTED IN THE FINANCIAL STATEMENTS. THIS REQUIRES THE EVALUATION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN THE COURSE OF PREPARING THE CREDIT UNION'S TAX RETURNS TO DETERMINE WHETHER THE TAX POSITIONS ARE "MORE LIKELY THAN NOT" OF BEING SUSTAINED "WHEN CHALLENGED" OR "WHEN EXAMINED" BY THE APPLICABLE TAX AUTHORITY. TAX POSITIONS DEEMED TO NOT MEET THE MORE-LIKELY-THAN-NOT THRESHOLD WOULD BE RECORDED AS A TAX EXPENSE AND LIABILITY IN THE CURRENT YEAR. FOR THE YEAR ENDED MARCH 31, 2013, MANAGEMENT HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS. THE CREDIT UNION IS GENERALLY NOT SUBJECT TO EXAMINATION BY U.S. FEDERAL AUTHORITIES FOR TAX YEARS BEFORE 2009 AND BY STATE TAX AUTHORITIES BEFORE 2008. FOR THE YEAR ENDED MARCH 31, 2013, THE CREDIT UNION HAS NO UNCERTAIN TAX POSITIONS AND, ACCORDINGLY, HAS NOT RECORDED A LIABILITY FOR THE PAYMENT OF INTEREST OR PENALTIES.
IRS990ScheduleD/Form990ScheduleDPartXIII/Identifier0DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48:
IRS990ScheduleD/Form990ScheduleDPartXIII/ReturnReference0PART X, LINE 2:
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IRS990ScheduleD/InvestmentsProgramRelated/Description0LOANS AND LEASES
IRS990ScheduleD/InvestmentsProgramRelated/Description1OTHER INVESTMENTS
IRS990ScheduleD/InvestmentsProgramRelated/Description2DEPOSIT IN ASI
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IRS990ScheduleD/OtherLiabilities/Description0OTHER SHARES AND DEPOSITS
IRS990ScheduleD/OtherLiabilities/Description1OTHER LIABILITIES
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IRS990ScheduleJ/Form990ScheduleJPartIII/Explanation0MELIA KELLER RECEIVED A SEVERANCE PAYMENT IN THE AMOUNT OF $900 IN 2012.
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IRS990ScheduleO/GeneralExplanation/Explanation0MID CITIES CREDIT UNION IS A COOPERATIVE FINANCIAL INSTITUTION THAT IS OWNED AND CONTROLLED BY ITS MEMBERS, AND OPERATED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS TO ITS MEMBERS. MID CITIES CREDIT UNION DOES NOT HAVE STOCKHOLDERS.
IRS990ScheduleO/GeneralExplanation/Explanation1THE GOVERNING BOARD OF MID CITIES CREDIT UNION IS COMPRISED OF VOLUNTEER MEMBERS WHO ARE DIRECTLY ELECTED BY ITS MEMBERS. EACH MEMBER OF THE GOVERNING BOARD SERVES FOR A PERIOD AS PRESCRIBED BY OUR BY-LAWS.
IRS990ScheduleO/GeneralExplanation/Explanation2AT THE END OF EACH TERM OF THE BOARD MEMBERS, ELECTIONS AR HELD AND BOARD MEMBERS ARE VOTED BY THE MEMBERS OF THE CREDIT UNION PURSUANT TO ITS BY-LAWS. MEMBER VOTES ARE ALSO REQUIRED TO RATIFY DECISIONS DEALING WITH REORGANIZATIONS AS IN THE CASE OF MERGER OR DISSOLUTION.
IRS990ScheduleO/GeneralExplanation/Explanation3THE BOARD AND MANAGEMENT REVIEW THE FORM 990 DURING THE BOARD MEETING AND PROVIDE COMMENTS AND MODIFICATIONS WHERE NECESSARY.
IRS990ScheduleO/GeneralExplanation/Explanation4THE PROCESS FOR DETERMINING COMPENSATION OF THE ONLY KEY EMPLOYEE, THE CEO, INCLUDED THE REVIEW OF COMPARATIVE COMPENSATION DATA AND APPROVAL BY INDEPENDENT PERSONS - THE BOARD OF DIRECTORS.
IRS990ScheduleO/GeneralExplanation/Explanation5MONTHLY FINANCIAL STATEMENTS ARE POSTED IN BRANCH OFFICES. OTHER DOCUMENTS ARE MADE AVAILABLE UPON REQUEST.
IRS990ScheduleO/GeneralExplanation/Explanation6OTHER RESERVES - HELD-TO-MATURITY INVESTMENTS AT FMV -6,153.
IRS990ScheduleO/GeneralExplanation/Explanation7THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR.
IRS990ScheduleO/GeneralExplanation/Identifier0CHANGES IN NET ASSETS OR FUND BALANCES:
IRS990ScheduleO/GeneralExplanation/ReturnReference0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/GeneralExplanation/ReturnReference1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/GeneralExplanation/ReturnReference2FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/GeneralExplanation/ReturnReference3FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/GeneralExplanation/ReturnReference4FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/GeneralExplanation/ReturnReference5FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/GeneralExplanation/ReturnReference6FORM 990, PART XI, LINE 9:
IRS990ScheduleO/GeneralExplanation/ReturnReference7FORM 990, PART XII, LINE 2C:
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IRS990/TheBooksAreInCareOf/NameBusiness/BusinessNameLine10WILLIAM P HUTTON ACCOUNTING MANAGER
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IRS990/TotalLiabilitiesBOY018511032
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IRS990/TotalLiabilitiesEOY018299681
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IRS990/TotalNbrVolunteers09
IRS990/TotalNetAssetsFundBalances/BOY04907916
IRS990/TotalNetAssetsFundBalances/EOY05123813
IRS990/TotalOtherCompensation04249
IRS990/TotalOtherRevenue087920
IRS990/TotalProfFundrsngExpCY00
IRS990/TotalProfFundrsngExpPriorYear00
IRS990/TotalProgramServiceRevenue01447857
IRS990/TotalReportableCompFrmRltdOrgs00
IRS990/TotalReportableCompFromOrg088246
IRS990/TotalRevenueCurrentYear01743472
IRS990/TotalRevenue/ExclusionAmount00
IRS990/TotalRevenuePriorYear01637513
IRS990/TotalRevenue/RelatedOrExemptFunctionIncome01738359
IRS990/TotalRevenue/TotalRevenueColumn01743472
IRS990/TotalRevenue/UnrelatedBusinessRevenue05113
IRS990/Travel/Total046580
IRS990/TypeOfOrganizationOther0X
IRS990/TypeOfOrgOtherDescription0CREDIT UNION
IRS990/UnrelatedBusinessIncome01
IRS990/UponRequest0X
IRS990/WebSite0WWW.MIDCITIESCU.ORG
IRS990/WhistleblowerPolicy00
IRS990/YearFormation01937
ReturnHeader/BuildTS02016-02-25 16:41:14Z
ReturnHeader/Filer/EIN0951561268
ReturnHeader/Filer/Name/BusinessNameLine10MID CITIES CREDIT UNION
ReturnHeader/Filer/NameControl0MIDC
ReturnHeader/Filer/Phone03106385147
ReturnHeader/Filer/USAddress/AddressLine10325 S SANTA FE AVENUE
ReturnHeader/Filer/USAddress/City0COMPTON
ReturnHeader/Filer/USAddress/State0CA
ReturnHeader/Filer/USAddress/ZIPCode0902213242
ReturnHeader/Officer/AuthorizeThirdParty01
ReturnHeader/Officer/DateSigned02013-11-04
ReturnHeader/Officer/Name0ANTHONY SANDERS
ReturnHeader/Officer/Phone03106385147
ReturnHeader/Officer/Title0PRESIDENT/CEO
ReturnHeader/PreparerFirm/EIN0954083485
ReturnHeader/PreparerFirm/PreparerFirmBusinessName/BusinessNameLine10TURNER WARREN HWANG & CONRAD ACCTCY
ReturnHeader/PreparerFirm/PreparerFirmUSAddress/AddressLine10100 NORTH FIRST ST STE 202
ReturnHeader/PreparerFirm/PreparerFirmUSAddress/City0BURBANK
ReturnHeader/PreparerFirm/PreparerFirmUSAddress/State0CA
ReturnHeader/PreparerFirm/PreparerFirmUSAddress/ZIPCode091502
ReturnHeader/Preparer/Name0VALENTINO CREUS CPA
ReturnHeader/Preparer/Phone08189549700
ReturnHeader/ReturnType0990
ReturnHeader/TaxPeriodBeginDate02012-01-01
ReturnHeader/TaxPeriodEndDate02012-12-31
ReturnHeader/TaxYear02012
ReturnHeader/Timestamp02013-11-11T11:42:55-06:00

Document Assets

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Filings

Displayed year

2012 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$23,423,494
Liabilities
$18,299,681
Net assets
$5,123,813
Revenue
-
Expenses
$1,521,422
Net income
-
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$17.6$16.3$1.27$1.06$1.36$0.30
2019Detailed filing. Detailed filing data is available for this year.$18.7$16.5$2.17$1.25$1.17$0.08
2018Summary only. Only limited summary data is available for this year.$19.3$17.2$2.04$1.33$1.22$0.11
2017Summary only. Only limited summary data is available for this year.$19.8$17.8$1.93$1.51$2.54$1.03
2016Detailed filing. Detailed filing data is available for this year.$20.4$17.5$2.96$1.73$3.54$1.81
2015Detailed filing. Detailed filing data is available for this year.$22.1$17.4$4.73$1.99$1.95$0.04
2014Detailed filing. Detailed filing data is available for this year.$22.6$17.9$4.66$2.11$2.55$0.43
2013Detailed filing. Detailed filing data is available for this year.$22.3$17.3$4.98$1.70$1.69$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$23.4$18.3$5.12$1.52
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$23.4$18.5$4.91$1.91
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$24.1$19.0$5.15$2.09