Liabilities / Assets
100th percentile
Higher debt load relative to assets than 100% of similar nonprofits.
Musicians' Interguild Credit Union C/O Sag Aftra Federal Credit Union
990 • Fiscal year 2012 • EIN 95-2052566
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.94x
Liabilities / Revenue
Score unavailable
Liabilities-to-revenue requires both liabilities and revenue on this filing.
Net Margin
Score unavailable
Net margin requires both revenue and expenses on this filing.
Top Officer Pay
Score unavailable
This filing does not contain officer compensation rows.
Asset Growth
2nd percentile
Faster asset growth than 2% of similar nonprofits.
Revenue Growth
Score unavailable
No valid filing value is available for this score.
Balance Sheet
Assets
Down$77,697,372
Down $3,806,884 (-4.7%) from 2011
Net Assets
Down$4,398,026
Down $735,213 (-14%) from 2011
Liabilities
Down$73,299,346
Down $3,071,671 (-4.0%) from 2011
Revenue And Expenses
Revenue
-
No earlier filing loaded for comparison.
Expenses
Down$3,605,991
Down $180,945 (-4.8%) from 2011
Net Income
-
No earlier filing loaded for comparison.
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jan 1, 2012 to Dec 31, 2012
- Signed
- Nov 14, 2013
- Return Version
- 2012v2.1
- Gross Receipts
- $2,870,778
Mission and Program Overview
Mission
Musicians' interguild 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 oportunity for them to use and control their own money on a democractic basis in order to improve their economic and social conditions. As a cooperative, musicians' interguild 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.
Major Activities
- Activity 2
- The credit union has continued to offer competitive savings rates on money market and share certificate accounts, thus motivating our members to save money.
- Activity 3
- The credit union continues to offer loan products unique to our membership, including residual secured loans as well as musical instrument and equipment loans.
Filing and Contact Details
Filer
- EIN
- 95-2052566
Raw XML AppendixShowing 400 of 463 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/Description | 0 | THE CREDIT UNION HAS CONTINUED TO OFFER COMPETITIVE SAVINGS RATES ON MONEY MARKET AND SHARE CERTIFICATE ACCOUNTS, THUS MOTIVATING OUR MEMBERS TO SAVE MONEY. |
| IRS990/Activity3/Description | 0 | THE CREDIT UNION CONTINUES TO OFFER LOAN PRODUCTS UNIQUE TO OUR MEMBERSHIP, INCLUDING RESIDUAL SECURED LOANS AS WELL AS MUSICAL INSTRUMENT AND EQUIPMENT LOANS. |
| IRS990/ActivityOrMissionDescription | 0 | A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. |
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| IRS990/Description | 0 | THE CREDIT UNION HAS MAINTAINED AND EXPANDED ITS SHARE DRAFT (CHECKING) PROGRAM TO OFFER REWARDS BENEFITS FOR USE OF THE RELATED DEBIT CARD. THIS PROMOTES THRIFTY USE OF THE ACCOUNT BY OUR MEMBERS. |
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| IRS990/MissionDescription | 0 | MUSICIANS' INTERGUILD 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 OPORTUNITY FOR THEM TO USE AND CONTROL THEIR OWN MONEY ON A DEMOCRACTIC BASIS IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS. AS A COOPERATIVE, MUSICIANS' INTERGUILD 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/Form990ScheduleDPartXIII/Explanation | 0 | FASB 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 JUNE 30, 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 JUNE 30, 2013, THE CREDIT UNION HAS NO UNCERTAIN TAX POSITIONS AND, ACCORDINGLY, HAS NOT RECORDED A LIABILITY FOR THE PAYMENT OF INTEREST OR PENALTIES. |
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| IRS990ScheduleD/InvestmentsProgramRelated/BookValue | 2 | 38762523 |
| IRS990ScheduleD/InvestmentsProgramRelated/BookValue | 3 | 728096 |
| IRS990ScheduleD/InvestmentsProgramRelated/BookValue | 4 | 412832 |
| IRS990ScheduleD/InvestmentsProgramRelated/Description | 0 | DEPOSITS IN COMMERICAL BANKS |
| IRS990ScheduleD/InvestmentsProgramRelated/Description | 1 | INVESTMENTS IN NATURAL PERSON CREDIT UNIONS |
| IRS990ScheduleD/InvestmentsProgramRelated/Description | 2 | LOAN & LEASES |
| IRS990ScheduleD/InvestmentsProgramRelated/Description | 3 | NCUA SHARE INSURANCE CAPITALIZATION DEPOSIT |
| IRS990ScheduleD/InvestmentsProgramRelated/Description | 4 | PAID IN CAPITAL AT CORP CU'S |
| IRS990ScheduleD/InvestmentsProgramRelated/MethodOfValuation | 0 | F |
| IRS990ScheduleD/InvestmentsProgramRelated/MethodOfValuation | 1 | F |
| IRS990ScheduleD/InvestmentsProgramRelated/MethodOfValuation | 2 | F |
| IRS990ScheduleD/InvestmentsProgramRelated/MethodOfValuation | 3 | F |
| IRS990ScheduleD/InvestmentsProgramRelated/MethodOfValuation | 4 | F |
| IRS990ScheduleD/LeaseholdImprovements/BookValue | 0 | 4808 |
| IRS990ScheduleD/LeaseholdImprovements/Depreciation | 0 | 306734 |
| IRS990ScheduleD/LeaseholdImprovements/OtherCostOrOtherBasis | 0 | 311542 |
| IRS990ScheduleD/OtherLiabilities/Amount | 0 | 107262 |
| IRS990ScheduleD/OtherLiabilities/Amount | 1 | 73023572 |
| IRS990ScheduleD/OtherLiabilities/Description | 0 | ACCRUED DIVIDENDS & INTERST PAYABLE |
| IRS990ScheduleD/OtherLiabilities/Description | 1 | MEMBER SHARES & DEPOSITS |
| IRS990ScheduleD/TotalOfAmounts | 0 | 73130834 |
| IRS990ScheduleD/TotalOfBookValueLandBuildings | 0 | 18771 |
| IRS990ScheduleD/TotalOfBookValueProgramRelated | 0 | 60181451 |
| IRS990ScheduleJ/BoardOrCommitteeApproval | 0 | X |
| IRS990ScheduleJ/CompensationSurvey | 0 | X |
| IRS990ScheduleJ/EquityBasedCompArrangement | 0 | 0 |
| IRS990ScheduleJ/Form990ScheduleJPartII/BaseCompensationFilingOrg | 0 | 130095 |
| IRS990ScheduleJ/Form990ScheduleJPartII/BonusFilingOrg | 0 | 0 |
| IRS990ScheduleJ/Form990ScheduleJPartII/BonusRelatedOrgs | 0 | 0 |
| IRS990ScheduleJ/Form990ScheduleJPartII/CompBasedOnRelatedOrgs | 0 | 0 |
| IRS990ScheduleJ/Form990ScheduleJPartII/CompReportPrior990FilingOrg | 0 | 0 |
| IRS990ScheduleJ/Form990ScheduleJPartII/CompReportPrior990RelatedOrgs | 0 | 0 |
| IRS990ScheduleJ/Form990ScheduleJPartII/DeferredCompFilingOrg | 0 | 3750 |
| IRS990ScheduleJ/Form990ScheduleJPartII/DeferredCompRelatedOrgs | 0 | 0 |
| IRS990ScheduleJ/Form990ScheduleJPartIII/Explanation | 0 | GARY INGERSOLL RECEIVED A SEVERANCE PAYMENT IN THE AMOUNT OF $4,423 IN 2012. |
| IRS990ScheduleJ/Form990ScheduleJPartIII/ReturnReference | 0 | PART I, LINE 4A |
| IRS990ScheduleJ/Form990ScheduleJPartII/NamePerson | 0 | MARC JACOBY |
| IRS990ScheduleJ/Form990ScheduleJPartII/NontaxableBenefitsFilingOrg | 0 | 10800 |
| IRS990ScheduleJ/Form990ScheduleJPartII/NontaxableBenefitsRelatedOrgs | 0 | 0 |
| IRS990ScheduleJ/Form990ScheduleJPartII/OtherCompensationFilingOrg | 0 | 9507 |
| IRS990ScheduleJ/Form990ScheduleJPartII/OtherCompensationRelatedOrgs | 0 | 0 |
| IRS990ScheduleJ/Form990ScheduleJPartII/Title | 0 | CEO/TREASURER |
| IRS990ScheduleJ/Form990ScheduleJPartII/TotalCompensationFilingOrg | 0 | 154152 |
| IRS990ScheduleJ/Form990ScheduleJPartII/TotalCompensationRelatedOrgs | 0 | 0 |
| IRS990/ScheduleJRequired | 0 | 1 |
| IRS990ScheduleJ/SeverancePayment | 0 | 1 |
| IRS990ScheduleJ/SupplementalNonqualRetirePlan | 0 | 0 |
| IRS990ScheduleO/GeneralExplanation/Explanation | 0 | MUSICIANS' INTERGUILD 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. MUSICIANS' INTERGUILD CREDIT UNION DOES NOT HAVE STOCKHOLDERS. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 1 | THE GOVERNING BODY OF MUSICIANS' INTERGUILD 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/Explanation | 2 | AT THE END OF EACH TERM OF THE BOARD MEMBERS, ELECTIONS ARE HELD AND BOARD MEMBERS ARE ELECTED 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/Explanation | 3 | THE GOVERNING BODY HAS NOT AUTHORIZED ANY COMMITTEE TO ACT ON ITS BEHALF. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 4 | EACH BOARD MEMBER SHALL RECEIVE A COMPLETED DRAFT OF THE FORM 990 FOR REVIEW PRIOR TO FILING EACH YEAR.THE FORM 990 IS ALSO REVIEWED BY THE CEO AND TREASURER OF MUSICIANS' INTERGUILD CREDIT UNION, WHO RECOMMEND CHANGES IF NECESSARY. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 5 | THE BOARD OF DIRECTORS ANNUALLY REVIEWS EXTERNAL ANALYSIS OF COMPARABLE SALARY AND BENEFITS DERIVED FROM A CREDIT UNION INDUSTRY SOURCE (SUCH AS CUES) AND THUS DETERMINES THE SALARY OF THE CEO AND OTHER MANAGERS. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 6 | THE CREDIT UNION DOES NOT MAKE ANY OF ITS GOVERNING DOCUMENTS AVAILABLE TO THE GENERAL PUBLIC EXCEPT FOR THE MONTHLY FINANCIAL STATEMENTS THAT ARE POSTED IN THE MAIN LOBBY. REGULATORS AND OTHER AUDITORS ARE GIVEN ACCESS TO RELEVANT DOCUMENTS. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 7 | THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 0 | FORM 990, PART VI, SECTION A, LINE 6 |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 1 | FORM 990, PART VI, SECTION A, LINE 7A |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 2 | FORM 990, PART VI, SECTION A, LINE 7B |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 3 | FORM 990, PART VI, SECTION A, LINE 8B |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 4 | FORM 990, PART VI, SECTION B, LINE 11 |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 5 | FORM 990, PART VI, SECTION B, LINE 15 |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 6 | FORM 990, PART VI, SECTION C, LINE 19 |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 7 | FORM 990, PART XII, LINE 2C: |
| IRS990/ScheduleORequired | 0 | 1 |
| IRS990/School | 0 | 0 |
| IRS990/SignificantChange | 0 | 0 |
| IRS990/SignificantNewProgramServices | 0 | 0 |
| IRS990/StateLegalDomicile | 0 | CA |
| IRS990/StatesWhereCopyOfReturnIsFiled | 0 | CA |
| IRS990/SubjectToProxyTax | 0 | 0 |
| IRS990/TaxablePartyNotification | 0 | 0 |
| IRS990/TaxExemptBonds | 0 | 0 |
| IRS990/Terminated | 0 | 0 |
| IRS990/TermOrPermanentEndowments | 0 | 0 |
| IRS990/TheBooksAreInCareOf/AddressUS/AddressLine1 | 0 | 817 VINE STREET SUITE 200 |
| IRS990/TheBooksAreInCareOf/AddressUS/City | 0 | LOS ANGELES |
| IRS990/TheBooksAreInCareOf/AddressUS/State | 0 | CA |
| IRS990/TheBooksAreInCareOf/AddressUS/ZIPCode | 0 | 90038 |
| IRS990/TheBooksAreInCareOf/NameBusiness/BusinessNameLine1 | 0 | MARC JACOBY |
| IRS990/TheBooksAreInCareOf/TelephoneNumber | 0 | 3234626447 |
| IRS990/TotalAssets/BOY | 0 | 81504256 |
| IRS990/TotalAssetsBOY | 0 | 81504256 |
| IRS990/TotalAssets/EOY | 0 | 77697372 |
| IRS990/TotalAssetsEOY | 0 | 77697372 |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2012 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.
- Assets
- $77,697,372
- Liabilities
- $73,299,346
- Net assets
- $4,398,026
- Revenue
- -
- Expenses
- $3,605,991
- Net income
- -