Liabilities / Assets
95th percentile
Higher debt load relative to assets than 95% of similar nonprofits.
Musicians' Interguild Credit Union C/O Sag Aftra Federal Credit Union
990 • Fiscal year 2015 • EIN 95-2052566
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.92x
Liabilities / Revenue
89th percentile
Higher debt load relative to revenue than 89% of similar nonprofits.
Net Margin
44th percentile
Higher net margin than 44% of similar nonprofits.
Top Officer Pay
73rd percentile
Higher top officer pay than 73% of similar nonprofits.
Top officer pay equals 6.8% of source-year revenue.
Asset Growth
9th percentile
Faster asset growth than 9% of similar nonprofits.
Revenue Growth
28th percentile
Faster revenue growth than 28% of similar nonprofits.
Balance Sheet
Assets
Down$72,474,698
Down $1,515,405 (-2.0%) from 2014
Net Assets
Up$5,440,521
Up $183,677 (+3.5%) from 2014
Liabilities
Down$67,034,177
Down $1,699,082 (-2.5%) from 2014
Revenue And Expenses
Revenue
Down$2,452,117
Down $35,143 (-1.4%) from 2014
Expenses
Up$2,268,440
Up $184,614 (+8.9%) from 2014
Net Income
Down$183,677
Down $219,757 (-54%) from 2014
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jan 1, 2015 to Dec 31, 2015
- Signed
- Nov 15, 2016
- Return Version
- 2015v2.1
- Gross Receipts
- $2,452,117
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.
A cooperative, organized for the purpose of promoting thrift and savings among its members.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Investments Program Related | $61,041,093 | $67,570,770 | ▲ $6,529,677 |
| Rtn Earn Endowment Incm Other Fnds | $5,256,844 | $5,440,521 | ▲ $183,677 |
| Savings and Temporary Cash Investments | $2,219,315 | $2,541,664 | ▲ $322,349 |
| Investments in Publicly Traded Securities | $10,166,047 | $1,756,394 | ▼ $8,409,653 |
| Cash and Non-Interest-Bearing Accounts | $68,424 | $55,366 | ▼ $13,058 |
| Prepaid Expenses and Deferred Charges | $40,781 | $30,846 | ▼ $9,935 |
| Land, Buildings, and Equipment, Net | $19,908 | $17,376 | ▼ $2,532 |
| Pd in Cap Srpls Land Bldg Eqp Fund | $0 | $0 | → $0 |
| Cap Stk Tr Prin Current Funds | $0 | $0 | → $0 |
| Total Assets | $73,990,103 | $72,474,698 | ▼ $1,515,405 |
| Other Assets Total | $434,535 | $502,282 | ▲ $67,747 |
| Liabilities | |||
| Other Liabilities | $68,199,095 | $66,671,227 | ▼ $1,527,868 |
| Accounts Payable and Accrued Expenses | $534,164 | $362,950 | ▼ $171,214 |
| Total Liabilities | $68,733,259 | $67,034,177 | ▼ $1,699,082 |
| Net Assets / Fund Balance | |||
| Total Net Assets Fund Balance | $5,256,844 | $5,440,521 | ▲ $183,677 |
| Total Liabilities and Net Assets / Fund Balance | $73,990,103 | $72,474,698 | ▼ $1,515,405 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Leasehold Improvements | $0 | $303,849 | $303,849 |
| Equipment | $17,376 | $223,863 | $241,239 |
| Investment Program Related Org | $412,832 | - | - |
Compensation and Service Providers
Employees
| Name | Title | Full / Part Time | Base | Other | Total |
|---|---|---|---|---|---|
| Mark Jacoby | CEO (former) | FT | $137,600 | $29,710 | $167,310 |
| Randy Santos | COO (former) | FT | $79,417 | $16,873 | $96,290 |
| Curt Ruther | CLO (former) | FT | $93,373 | $2,207 | $95,580 |
Board Members and Trustees
| Name | Title |
|---|---|
| Stephan Zupkas | Chairman |
| Larry Lippold | Supv Cmte Chair |
| Lee Callet | Vice Chair |
| David Conrad | Director |
| Erick Garcia | Director |
| Jack Humes | Director |
| Robert Hirschman | Director |
| Sandy Martin | Director |
| Terry Landry | Director |
| Phil Feather | Secretary |
| Mary Zuniga | Supv Cmte Member |
| Paul Sternhagen | Supv Cmte Member |
| Sergio Medina | Supv Cmte Secretary |
Highest Paid Contractors
| Contractor | Services | Location | Compensation |
|---|---|---|---|
| Jack Henry & Associates | Core Computer Services | 8985 BALBOA AVE, San Diego, CA 92123 | $105,254 |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $0
- Program Service Revenue
- $1,794,176
- Investment Income
- $506,662
- Other Revenue
- $151,279
- Change in Net Assets
- $183,677
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Other Expenses | $1,406,527 |
| Salaries, Compensation, and Employee Benefits | $861,913 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Other Salaries and Wages | - | - | - | $344,353 |
| Current Officers, Directors, Trustees, and Key Employees | - | - | - | $323,900 |
| Interest | - | - | - | $259,924 |
| Office Expenses | - | - | - | $224,010 |
| Other Employee Benefits | - | - | - | $104,168 |
| Information Technology | - | - | - | $100,746 |
| Fees for Services Other | - | - | - | $88,108 |
| Occupancy | - | - | - | $71,519 |
| Advertising | - | - | - | $69,147 |
| Payroll Taxes | - | - | - | $56,904 |
| Fees for Services Accounting | - | - | - | $52,346 |
| Insurance | - | - | - | $47,384 |
| Fees for Services Legal | - | - | - | $39,612 |
| Pension Plan Contributions | - | - | - | $32,588 |
| Depreciation Depletion | - | - | - | $14,785 |
| Other Expenses | - | - | - | $2,614 |
| Travel | - | - | - | $2,272 |
| Total Functional Expenses | $0 | $0 | $0 | $2,268,440 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
Political and Lobbying Activity
- Political campaign activity
- No
- Subject to proxy tax
- No
Debt and Bond Financing
Other Reported Liabilities
| Liability | Amount |
|---|---|
| Member Shares & Deposits | $66,622,015 |
| Accrued Dividends & Interest Payable | $49,212 |
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
- Yes
- Other officer compensation reviewed
- Yes
- 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, Section A, Line 6
“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.”
Form 990, Part VI, Section A, Line 7A
“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.”
Form 990, Part VI, Section A, Line 7B
“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.”
Form 990, Part VI, Section A, Line 8B
“The governing body has not authorized any committee to act on its behalf.”
Form 990, Part VI, Section B, Line 11
“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 cfo of musicians' interguild credit union, who recommend changes if necessary.”
Form 990, Part VI, Section B, Line 12C
“All officials and staff are required to sign a conflict of interest policy and are required to report any change in status.”
Form 990, Part VI, Section B, Line 15
“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.”
Form 990, Part VI, Section C, Line 19
“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.”
Filing and Contact Details
Filer
- Filer Name
- MUSICIANS' INTERGUILD CREDIT UNION
- EIN
- 95-2052566
- Phone
- 3234626447
- Address
- 817 VINE STREET SUITE 200, LOS ANGELES, CA 90038
Signing Officer
- Name
- Sharon Updike
- Title
- Interim CEO
- Phone
- 3234626447
- Signed
- 2016-11-15
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- Sharon Updike
- Formed
- 1954
- Legal Domicile
- CA
- Voting Board Members
- 9
- Independent Board Members
- 9
- Employees
- 13
- Volunteers
- 13
Preparer
- Firm
- Turner Warren Hwang & Conrad Acctcy
- Address
- 100 NORTH FIRST ST STE 202, BURBANK, CA 91502
- Preparer
- Valentino Creus CPA
- Phone
- 8189549700
Supplemental Narrative
Additional Explanations
FORM 990, PART XII, LINE 2C:
“The organization has not changed either its oversight process or selection process during the tax year.”
Financial Statement Notes
PART X, LINE 2:
“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, 2016, the credit union has no uncertain tax positions and, accordingly, has not recorded a liability for the payment of interest or penalties.”
Raw XML AppendixShowing 400 of 466 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/AccountsPayableAccrExpnssGrp/EOYAmt | 0 | 362950 |
| IRS990/ActivitiesConductedPrtshpInd | 0 | 0 |
| IRS990/ActivityOrMissionDesc | 0 | A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. |
| IRS990/AdvertisingGrp/TotalAmt | 0 | 69147 |
| IRS990/AnnualDisclosureCoveredPrsnInd | 0 | 1 |
| IRS990/AuditCommitteeInd | 0 | 1 |
| IRS990/BackupWthldComplianceInd | 0 | 1 |
| IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt | 0 | SHARON UPDIKE INTERIM CEO |
| IRS990/BooksInCareOfDetail/PhoneNum | 0 | 3234626447 |
| IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt | 0 | 817 VINE STREET SUITE 200 |
| IRS990/BooksInCareOfDetail/USAddress/CityNm | 0 | LOS ANGELES |
| IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd | 0 | CA |
| IRS990/BooksInCareOfDetail/USAddress/ZIPCd | 0 | 90038 |
| IRS990/BusinessRlnWithFamMemInd | 0 | 0 |
| IRS990/BusinessRlnWithOfficerEntInd | 0 | 0 |
| IRS990/BusinessRlnWithOrgMemInd | 0 | 0 |
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| IRS990/CapStkTrPrinCurrentFundsGrp/EOYAmt | 0 | 0 |
| IRS990/CashNonInterestBearingGrp/BOYAmt | 0 | 68424 |
| IRS990/CashNonInterestBearingGrp/EOYAmt | 0 | 55366 |
| IRS990/ChangeToOrgDocumentsInd | 0 | 0 |
| IRS990/CntrctRcvdGreaterThan100KCnt | 0 | 1 |
| IRS990/CollectionsOfArtInd | 0 | 0 |
| IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt | 0 | 323900 |
| IRS990/CompensationFromOtherSrcsInd | 0 | 0 |
| IRS990/CompensationProcessCEOInd | 0 | 1 |
| IRS990/CompensationProcessOtherInd | 0 | 1 |
| IRS990/ConflictOfInterestPolicyInd | 0 | 1 |
| IRS990/ConservationEasementsInd | 0 | 0 |
| IRS990/ConsolidatedAuditFinclStmtInd | 0 | 0 |
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| IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt | 0 | JACK HENRY & ASSOCIATES |
| IRS990/ContractorCompensationGrp/ServicesDesc | 0 | CORE COMPUTER SERVICES |
| IRS990/CreditCounselingInd | 0 | 0 |
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| IRS990/CYContributionsGrantsAmt | 0 | 0 |
| IRS990/CYGrantsAndSimilarPaidAmt | 0 | 0 |
| IRS990/CYInvestmentIncomeAmt | 0 | 506662 |
| IRS990/CYOtherExpensesAmt | 0 | 1406527 |
| IRS990/CYOtherRevenueAmt | 0 | 151279 |
| IRS990/CYProgramServiceRevenueAmt | 0 | 1794176 |
| IRS990/CYRevenuesLessExpensesAmt | 0 | 183677 |
| IRS990/CYSalariesCompEmpBnftPaidAmt | 0 | 861913 |
| IRS990/CYTotalExpensesAmt | 0 | 2268440 |
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| IRS990/CYTotalProfFndrsngExpnsAmt | 0 | 0 |
| IRS990/CYTotalRevenueAmt | 0 | 2452117 |
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| IRS990/DeductibleArtContributionInd | 0 | 0 |
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| IRS990/DelegationOfMgmtDutiesInd | 0 | 0 |
| IRS990/DepreciationDepletionGrp/TotalAmt | 0 | 14785 |
| IRS990/Desc | 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/DisregardedEntityInd | 0 | 0 |
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| IRS990/DonorAdvisedFundInd | 0 | 0 |
| IRS990/ElectionOfBoardMembersInd | 0 | 1 |
| IRS990/EmployeeCnt | 0 | 13 |
| IRS990/EmploymentTaxReturnsFiledInd | 0 | 1 |
| IRS990/FamilyOrBusinessRlnInd | 0 | 0 |
| IRS990/FederalGrantAuditRequiredInd | 0 | 0 |
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| IRS990/FeesForServicesOtherGrp/TotalAmt | 0 | 88108 |
| IRS990/ForeignActivitiesInd | 0 | 0 |
| IRS990/ForeignFinancialAccountInd | 0 | 0 |
| IRS990/ForeignOfficeInd | 0 | 0 |
| IRS990/Form8282PropertyDisposedOfInd | 0 | 0 |
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| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 2 | 2.00 |
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| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 4 | 2.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 5 | 2.00 |
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| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 12 | 2.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 13 | 40.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 14 | 40.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 15 | 40.00 |
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| IRS990/Form990PartVIISectionAGrp/PersonNm | 8 | JACK HUMES |
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| IRS990/Form990PartVIISectionAGrp/PersonNm | 10 | SERGIO MEDINA |
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| IRS990/Form990PartVIISectionAGrp/TitleTxt | 1 | VICE CHAIR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 2 | SECRETARY |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 3 | DIRECTOR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 4 | DIRECTOR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 5 | DIRECTOR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 6 | DIRECTOR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 7 | DIRECTOR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 8 | DIRECTOR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 9 | SUPV CMTE CHAIR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 10 | SUPV CMTE SECRETARY |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 11 | SUPV CMTE MEMBER |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 12 | SUPV CMTE MEMBER |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 13 | CEO (FORMER) |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 14 | CLO (FORMER) |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 15 | COO (FORMER) |
| IRS990/Form990ProvidedToGvrnBodyInd | 0 | 1 |
| IRS990/Form990TFiledInd | 0 | 1 |
| IRS990/FormationYr | 0 | 1954 |
| IRS990/FormerOfcrEmployeesListedInd | 0 | 0 |
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| IRS990/FSAuditedInd | 0 | 1 |
| IRS990/FundraisingActivitiesInd | 0 | 0 |
| IRS990/GamingActivitiesInd | 0 | 0 |
| IRS990/GoverningBodyVotingMembersCnt | 0 | 9 |
| IRS990/GrantsToIndividualsInd | 0 | 0 |
| IRS990/GrantsToOrganizationsInd | 0 | 0 |
| IRS990/GrantToRelatedPersonInd | 0 | 0 |
| IRS990/GrossReceiptsAmt | 0 | 2452117 |
| IRS990/GroupReturnForAffiliatesInd | 0 | 0 |
| IRS990/IncludeFIN48FootnoteInd | 0 | 0 |
| IRS990/IndependentAuditFinclStmtInd | 0 | 0 |
| IRS990/IndependentVotingMemberCnt | 0 | 9 |
| IRS990/IndivRcvdGreaterThan100KCnt | 0 | 1 |
| IRS990/IndoorTanningServicesInd | 0 | 0 |
| IRS990/InfoInScheduleOPartIIIInd | 0 | X |
| IRS990/InfoInScheduleOPartVIInd | 0 | X |
| IRS990/InfoInScheduleOPartXIIInd | 0 | X |
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| IRS990/InsuranceGrp/TotalAmt | 0 | 47384 |
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| IRS990/InvestmentsProgramRelatedGrp/EOYAmt | 0 | 67570770 |
| IRS990/InvestmentsPubTradedSecGrp/BOYAmt | 0 | 10166047 |
| IRS990/InvestmentsPubTradedSecGrp/EOYAmt | 0 | 1756394 |
| IRS990/IRPDocumentCnt | 0 | 1096 |
| IRS990/IRPDocumentW2GCnt | 0 | 0 |
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| IRS990/LandBldgEquipBasisNetGrp/EOYAmt | 0 | 17376 |
| IRS990/LandBldgEquipCostOrOtherBssAmt | 0 | 545088 |
| IRS990/LegalDomicileStateCd | 0 | CA |
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| IRS990/LocalChaptersInd | 0 | 0 |
| IRS990/MaterialDiversionOrMisuseInd | 0 | 0 |
| IRS990/MembersOrStockholdersInd | 0 | 1 |
| IRS990/MethodOfAccountingAccrualInd | 0 | X |
| IRS990/MinutesOfCommitteesInd | 0 | 0 |
| IRS990/MinutesOfGoverningBodyInd | 0 | 1 |
| IRS990/MissionDesc | 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. |
| IRS990/MoreThan5000KToIndividualsInd | 0 | 0 |
| IRS990/MoreThan5000KToOrgInd | 0 | 0 |
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| IRS990/NetAssetsOrFundBalancesEOYAmt | 0 | 5440521 |
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| IRS990/NondeductibleContributionsInd | 0 | 0 |
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| IRS990/OfficeExpensesGrp/TotalAmt | 0 | 224010 |
| IRS990/OfficerMailingAddressInd | 0 | 0 |
| IRS990/OperateHospitalInd | 0 | 0 |
| IRS990/Organization501cInd | 0 | X |
| IRS990/OrgDoesNotFollowSFAS117Ind | 0 | X |
| IRS990/OtherAssetsTotalGrp/BOYAmt | 0 | 434535 |
| IRS990/OtherAssetsTotalGrp/EOYAmt | 0 | 502282 |
| IRS990/OtherChangesInNetAssetsAmt | 0 | 0 |
| IRS990/OtherEmployeeBenefitsGrp/TotalAmt | 0 | 104168 |
| IRS990/OtherExpensesGrp/Desc | 0 | MISCELLANEOUS OPERATING |
| IRS990/OtherExpensesGrp/Desc | 1 | LOAN SERVICING |
| IRS990/OtherExpensesGrp/Desc | 2 | OPERATING FEES |
| IRS990/OtherExpensesGrp/Desc | 3 | OTHER NON-OPERATING EXP |
| IRS990/OtherExpensesGrp/TotalAmt | 0 | 326822 |
| IRS990/OtherExpensesGrp/TotalAmt | 1 | 84295 |
| IRS990/OtherExpensesGrp/TotalAmt | 2 | 22943 |
| IRS990/OtherExpensesGrp/TotalAmt | 3 | 2614 |
| IRS990/OtherLiabilitiesGrp/BOYAmt | 0 | 68199095 |
| IRS990/OtherLiabilitiesGrp/EOYAmt | 0 | 66671227 |
| IRS990/OtherOrganizationDsc | 0 | CREDIT UNION |
| IRS990/OtherRevenueMiscGrp/BusinessCd | 0 | 522100 |
| IRS990/OtherRevenueMiscGrp/Desc | 0 | PROVISION FOR LOAN AND |
| IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt | 0 | 151279 |
| IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt | 0 | 151279 |
| IRS990/OtherRevenueTotalAmt | 0 | 151279 |
| IRS990/OtherSalariesAndWagesGrp/TotalAmt | 0 | 344353 |
| IRS990/OtherWebsiteInd | 0 | X |
| IRS990/PartialLiquidationInd | 0 | 0 |
| IRS990/PayrollTaxesGrp/TotalAmt | 0 | 56904 |
| IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt | 0 | 0 |
| IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt | 0 | 0 |
| IRS990/PensionPlanContributionsGrp/TotalAmt | 0 | 32588 |
| IRS990/PoliticalCampaignActyInd | 0 | 0 |
| IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt | 0 | 40781 |
| IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt | 0 | 30846 |
| IRS990/PrincipalOfficerNm | 0 | SHARON UPDIKE |
| IRS990/ProfessionalFundraisingInd | 0 | 0 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 0 | 522100 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 1 | 522100 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 2 | 522100 |
| IRS990/ProgramServiceRevenueGrp/Desc | 0 | INTEREST ON LOANS |
| IRS990/ProgramServiceRevenueGrp/Desc | 1 | FEE INCOME |
| IRS990/ProgramServiceRevenueGrp/Desc | 2 | OTHER OPERATING INCOME |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 1501878 |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 1 | 198621 |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 2 | 88505 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 0 | 1501878 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 1 | 198621 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 2 | 93677 |
| IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt | 0 | 5172 |
| IRS990/ProgSrvcAccomActy2Grp/Desc | 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/ProgSrvcAccomActy3Grp/Desc | 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/ProhibitedTaxShelterTransInd | 0 | 0 |
| IRS990/PYBenefitsPaidToMembersAmt | 0 | 0 |
| IRS990/PYContributionsGrantsAmt | 0 | 0 |
| IRS990/PYGrantsAndSimilarPaidAmt | 0 | 0 |
| IRS990/PYInvestmentIncomeAmt | 0 | 515062 |
| IRS990/PYOtherExpensesAmt | 0 | 1255173 |
| IRS990/PYOtherRevenueAmt | 0 | 129023 |
| IRS990/PYProgramServiceRevenueAmt | 0 | 1843175 |
| IRS990/PYRevenuesLessExpensesAmt | 0 | 403434 |
| IRS990/PYSalariesCompEmpBnftPaidAmt | 0 | 828653 |
| IRS990/PYTotalExpensesAmt | 0 | 2083826 |
| IRS990/PYTotalProfFndrsngExpnsAmt | 0 | 0 |
| IRS990/PYTotalRevenueAmt | 0 | 2487260 |
| IRS990/QuidProQuoContributionsInd | 0 | 0 |
| IRS990/ReconcilationRevenueExpnssAmt | 0 | 183677 |
| IRS990/RegularMonitoringEnfrcInd | 0 | 1 |
| IRS990/RelatedEntityInd | 0 | 0 |
| IRS990/RelatedOrganizationCtrlEntInd | 0 | 0 |
| IRS990/ReportInvestmentsOtherSecInd | 0 | 0 |
| IRS990/ReportLandBuildingEquipmentInd | 0 | 1 |
| IRS990/ReportOtherAssetsInd | 0 | 0 |
| IRS990/ReportOtherLiabilitiesInd | 0 | 1 |
| IRS990/ReportProgramRelatedInvstInd | 0 | 1 |
| IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt | 0 | 5256844 |
| IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt | 0 | 5440521 |
| IRS990/SavingsAndTempCashInvstGrp/BOYAmt | 0 | 2219315 |
| IRS990/SavingsAndTempCashInvstGrp/EOYAmt | 0 | 2541664 |
| IRS990/ScheduleBRequiredInd | 0 | 0 |
| IRS990ScheduleD/EquipmentGrp/BookValueAmt | 0 | 17376 |
| IRS990ScheduleD/EquipmentGrp/DepreciationAmt | 0 | 223863 |
| IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt | 0 | 241239 |
| IRS990ScheduleD/FootnoteTextInd | 0 | X |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt | 0 | 30190000 |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt | 1 | 4131000 |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt | 2 | 32215802 |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt | 3 | 621136 |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt | 4 | 412832 |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc | 0 | DEPOSITS IN COMMERCIAL BANKS |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc | 1 | INVESTMENTS IN NATURAL PERSON CREDIT UNIONS |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc | 2 | LOAN & LEASES |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc | 3 | NCUA SHARE INSURANCE CAPITALIZATION DEPOSIT |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc | 4 | PAID IN CAPITAL AT CORP CU'S |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd | 0 | C |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd | 1 | C |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd | 2 | F |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd | 3 | C |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd | 4 | C |
| IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt | 0 | 0 |
| IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt | 0 | 303849 |
| IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt | 0 | 303849 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 0 | 49212 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 1 | 66622015 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 0 | ACCRUED DIVIDENDS & INTEREST PAYABLE |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 1 | MEMBER SHARES & DEPOSITS |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 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, 2016, THE CREDIT UNION HAS NO UNCERTAIN TAX POSITIONS AND, ACCORDINGLY, HAS NOT RECORDED A LIABILITY FOR THE PAYMENT OF INTEREST OR PENALTIES. |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | PART X, LINE 2: |
| IRS990ScheduleD/TotalBookValueLandBuildingsAmt | 0 | 17376 |
| IRS990ScheduleD/TotalBookValueProgramRltdAmt | 0 | 67570770 |
| IRS990ScheduleD/TotalLiabilityAmt | 0 | 66671227 |
| IRS990ScheduleJ/BoardOrCommitteeApprovalInd | 0 | X |
| IRS990ScheduleJ/CompensationSurveyInd | 0 | X |
| IRS990ScheduleJ/EquityBasedCompArrngmInd | 0 | 0 |
| IRS990/ScheduleJRequiredInd | 0 | 1 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt | 0 | 137600 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt | 0 | 1200 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt | 0 | 15000 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt | 0 | 13510 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm | 0 | MARK JACOBY |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt | 0 | CEO (FORMER) |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt | 0 | 167310 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt | 0 | 0 |
| IRS990ScheduleJ/SeverancePaymentInd | 0 | 0 |
| IRS990ScheduleJ/SupplementalNonqualRtrPlanInd | 0 | 0 |
| IRS990/ScheduleORequiredInd | 0 | 1 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 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/SupplementalInformationDetail/ExplanationTxt | 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/SupplementalInformationDetail/ExplanationTxt | 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/SupplementalInformationDetail/ExplanationTxt | 3 | THE GOVERNING BODY HAS NOT AUTHORIZED ANY COMMITTEE TO ACT ON ITS BEHALF. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 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 CFO OF MUSICIANS' INTERGUILD CREDIT UNION, WHO RECOMMEND CHANGES IF NECESSARY. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 5 | ALL OFFICIALS AND STAFF ARE REQUIRED TO SIGN A CONFLICT OF INTEREST POLICY AND ARE REQUIRED TO REPORT ANY CHANGE IN STATUS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 6 | 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/SupplementalInformationDetail/ExplanationTxt | 7 | 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/SupplementalInformationDetail/ExplanationTxt | 8 | THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | FORM 990, PART VI, SECTION A, LINE 6 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | FORM 990, PART VI, SECTION A, LINE 7A |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | FORM 990, PART VI, SECTION A, LINE 7B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | FORM 990, PART VI, SECTION A, LINE 8B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | FORM 990, PART VI, SECTION B, LINE 11 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 5 | FORM 990, PART VI, SECTION B, LINE 12C |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 6 | FORM 990, PART VI, SECTION B, LINE 15 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 7 | FORM 990, PART VI, SECTION C, LINE 19 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 8 | FORM 990, PART XII, LINE 2C: |
| IRS990/SchoolOperatingInd | 0 | 0 |
| IRS990/SignificantChangeInd | 0 | 0 |
| IRS990/SignificantNewProgramSrvcInd | 0 | 0 |
| IRS990/StatesWhereCopyOfReturnIsFldCd | 0 | CA |
| IRS990/SubjectToProxyTaxInd | 0 | 0 |
| IRS990/TaxablePartyNotificationInd | 0 | 0 |
| IRS990/TaxExemptBondsInd | 0 | 0 |
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.
- Assets
- $72,474,698
- Liabilities
- $67,034,177
- Net assets
- $5,440,521
- Revenue
- $2,452,117
- Expenses
- $2,268,440
- Net income
- $183,677