810 SEVEN SEVENTEEN CREDIT UNION INC: Form 990, tax year 2012
View the entire original 990 at ProPublica ↗
- Organization
- 810 SEVEN SEVENTEEN CREDIT UNION INC (EIN 34-0825325)
- Tax period
- 2012-01-01 to 2012-12-31
- Filed
- 2013-11-15
- IRS object ID
- 201333199349311343
- Schema version
- 2012v2.3
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2013-11-15T19:56:30-06:00 | Timestamp |
| Tax Period End Date | 2012-12-31 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SCHWARTZ COLE AND ASSOCIATES LLC | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 11776 W SAMPLE RD STE 106 | AddressLine1 |
| City | CORAL SPRINGS | City |
| State | FL | State |
| ZIP Code | 330653180 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2012-01-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 340825325 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SEVEN SEVENTEEN CREDIT UNION INC | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | SEVE | NameControl |
| Phone | 3303728100 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 3181 LARCHMONT AVE NE | AddressLine1 |
| City | WARREN | City |
| State | OH | State |
| ZIP Code | 44483 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | JEROME MCGEE | Name |
| Title | CFO | Title |
| Phone | 3303728100 | Phone |
| Date Signed | 2013-11-15 | DateSigned |
| Authorize Third Party | true | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | DANIEL J COLE | Name |
| Phone | 9547551760 | Phone |
| Date Prepared | 2013-11-15 | DatePrepared |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2012 | TaxYear |
| Build TS | 2016-03-07 17:11:31Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | JEROME MCGEE | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 3181 LARCHMONT AVE NE | AddressLine1 |
| City | WARREN | City |
| State | OH | State |
| ZIP Code | 44483 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 46097417 | GrossReceipts |
| Group Return For Affiliates | false | GroupReturnForAffiliates |
| Organization501c | X | Organization501c |
| Web Site | WWW.SSCU.NET | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1957 | YearFormation |
| State Legal Domicile | OH | StateLegalDomicile |
| Activity Or Mission Description | THE PURPOSE OF SEVEN SEVENTEEN CREDIT UNION IS TO PROMOTE THRIFT AMONG ITS MEMBERS; TO ESTABLISH, ON A COOPERATIVE BASIS, FACILITIES FOR SAVINGS; TO PROVIDE CREDIT FOR PROVIDENT AND PRODUCTIVE PURPOSES; TO PROVIDE ASSISTANCE TO ITS MEMBERS IN BUDGETING, MONEY MANAGEMENT, THE EFFECTIVE USE OF THEIR ASSETS AND RESOURCES; AND TO ENGAGE IN ALL ACTIVITIES NECESSARY AND INCIDENTAL THERETO. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 6 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 6 | NbrIndependentVotingMembers |
| Total Nbr Employees | 283 | TotalNbrEmployees |
| Total Nbr Volunteers | 3 | TotalNbrVolunteers |
| Total Gross UBI | 193646 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 97512 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Current Year | 0 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 43673851 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 43342290 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 2888572 | InvestmentIncomePriorYear |
| Investment Income Current Year | 2755127 | InvestmentIncomeCurrentYear |
| Other Revenue Current Year | 0 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 46562423 | TotalRevenuePriorYear |
| Total Revenue Current Year | 46097417 | TotalRevenueCurrentYear |
| Grants And Similar Amnts CY | 0 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 17773898 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 18302772 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 0 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 22038455 | OtherExpensePriorYear |
| Other Expenses Current Year | 21758011 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 39812353 | TotalExpensesPriorYear |
| Total Expenses Current Year | 40060783 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 6750070 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 6036634 | RevenuesLessExpensesCY |
| Total Assets BOY | 775720799 | TotalAssetsBOY |
| Total Assets EOY | 831486020 | TotalAssetsEOY |
| Total Liabilities BOY | 694404206 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 744174836 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 81316593 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 87311184 | NetAssetsOrFundBalancesEOY |
| Info In Schedule O Part III | X | InfoInScheduleOPartIII |
| Mission Description | THE PURPOSE OF SEVEN SEVENTEEN CREDIT UNION IS TO PROMOTE THRIFT AMONG ITS MEMBERS; TO ESTABLISH, ON A COOPERATIVE BASIS, FACILITIES FOR SAVINGS; TO PROVIDE CREDIT FOR PROVIDENT AND PRODUCTIVE PURPOSES; TO PROVIDE ASSISTANCE TO ITS MEMBERS IN BUDGETING, MONEY MANAGEMENT, THE EFFECTIVE USE OF THEIR ASSETS AND RESOURCES; AND TO ENGAGE IN ALL ACTIVITIES NECESSARY AND INCIDENTAL THERETO. | MissionDescription |
| Significant New Program Services | false | SignificantNewProgramServices |
| Significant Change | false | SignificantChange |
| Description | DIVIDENDS AND INTEREST PAID TO APPROXIMATELY 67,500 MEMBERS ON THEIR SHARE ACCOUNTS, MONEY MAKET ACCOUNTS, AND CERTIFICATE OF DEPOSIT ACCOUNTS. | Description |
Activity2 Activity2
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | EMPLOYEE LABOR AND BENEFIT COSTS INCURRED TO SUPPORT SAVINGS SERVICES, LOAN ORIGINATIONS, AND SERVICING THE LOAN PORTFOLIO FOR ITS MEMBERS. | Description |
Activity3 Activity3
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | OFFICE EXPENSE AND DATA PROCESSING EXPENSE NECESSARY TO SUPPORT MEMBER ACCOUNT AND LOAN ACTIVITY BY PROVIDING MEMBERS ACCESS TO THEIR ACCOUNTS VIA HOME BANKING, ATM NETWORKS, AND IN PERSON AT THE CREDIT UNION OFFICES. | Description |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Described In501 C3 | false | DescribedIn501C3 |
| Schedule B Required | false | ScheduleBRequired |
| Political Activities | false | PoliticalActivities |
| Subject To Proxy Tax | false | SubjectToProxyTax |
| Donor Advised Funds | false | DonorAdvisedFunds |
| Conservation Easements | false | ConservationEasements |
| Collections Of Art | false | CollectionsOfArt |
| Credit Counseling | false | CreditCounseling |
| Term Or Permanent Endowments | false | TermOrPermanentEndowments |
| Report Land Bldg Equip | true | ReportLandBldgEquip |
| Report Invest Oth Securities | false | ReportInvestOthSecurities |
| Report Prog Rel Invest | false | ReportProgRelInvest |
| Report Other Assets | false | ReportOtherAssets |
| Report Other Liabilities | true | ReportOtherLiabilities |
| Report Fin48 Footnote | false | ReportFin48Footnote |
| Independent Audit Financial Stmt | false | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | true | ConsolidatedAuditFinancialStmt |
| School | false | School |
| Foreign Office | false | ForeignOffice |
| Foreign Activities | false | ForeignActivities |
| More Than5000 K To Organizations | false | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividuals |
| Professional Fundraising | false | ProfessionalFundraising |
| Fundraising Activities | false | FundraisingActivities |
| Gaming | false | Gaming |
| Hospital | false | Hospital |
| Grants To Organizations | false | GrantsToOrganizations |
| Grants To Individuals | false | GrantsToIndividuals |
| Schedule J Required | true | ScheduleJRequired |
| Tax Exempt Bonds | false | TaxExemptBonds |
| Loan To Officer Or DQP | false | LoanToOfficerOrDQP |
| Grant To Related Person | false | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | false | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | false | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | false | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | false | DeductibleNonCashContributions |
| Deductible Contributions Of Art | false | DeductibleContributionsOfArt |
| Terminated | false | Terminated |
| Partial Liquidation | false | PartialLiquidation |
| Disregarded Entity | false | DisregardedEntity |
| Related Entity | true | RelatedEntity |
| Related Org Controlled Entity | false | RelatedOrgControlledEntity |
| Activities Conducted Partnership | false | ActivitiesConductedPartnership |
| Schedule O Required | true | ScheduleORequired |
| Number Forms Transmitted With1096 | 18982 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | true | ComplianceWithBackupWitholding |
| Number Of Employees | 283 | NumberOfEmployees |
| Employment Tax Returns Filed | true | EmploymentTaxReturnsFiled |
| Unrelated Business Income | true | UnrelatedBusinessIncome |
| Form990-T Filed | true | Form990-TFiled |
| Foreign Financial Account | false | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTrans |
| Taxable Party Notification | false | TaxablePartyNotification |
| Non Deductible Contributions | false | NonDeductibleContributions |
| Indoor Tanning Services | false | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 6 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 6 | NumberIndependentVotingMembers |
| Family Or Business Relationship | false | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | false | DelegationOfManagementDuties |
| Changes To Organizing Docs | false | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuse |
| Members Or Stockholders | true | MembersOrStockholders |
| Election Of Board Members | true | ElectionOfBoardMembers |
| Decisions Subject To Approval | false | DecisionsSubjectToApproval |
| Minutes Of Governing Body | true | MinutesOfGoverningBody |
| Minutes Of Committees | true | MinutesOfCommittees |
| Officer Mailing Address | false | OfficerMailingAddress |
| Local Chapters | true | LocalChapters |
| Policies Reference Chapters | true | PoliciesReferenceChapters |
| Form990 Provided To Governing Body | false | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | true | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | true | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | true | RegularMonitoringEnforcement |
| Whistleblower Policy | true | WhistleblowerPolicy |
| Document Retention Policy | true | DocumentRetentionPolicy |
| Compensation Process CEO | true | CompensationProcessCEO |
| Compensation Process Other | true | CompensationProcessOther |
| Investment In Joint Venture | false | InvestmentInJointVenture |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | JEROME MCGEE | NamePerson |
| Telephone Number | 3303728100 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 3181 LARCHMONT AVE NE | AddressLine1 |
| City | WARREN | City |
| State | OH | State |
| ZIP Code | 44483 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (18 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | OfficerOfficer | Highest Compensated EmployeeHighestCompensatedEmployee |
|---|---|---|---|---|---|---|---|
| RAYMOND MANOFSKY | |||||||
| VICE CHAIRMA | 2.00 | X | 3551 | 0 | 0 | ||
| CHERYL DIGIACOBBE | |||||||
| SEC TREAS | 5.00 | X | 2991 | 0 | 0 | ||
| JACK WILSTER | |||||||
| CHAIRMAN | 5.00 | X | 2132 | 0 | 0 | ||
| JOE NOARK | |||||||
| 2ND VICE CHA | 1.50 | X | 0 | 0 | 0 | ||
| WILLIAM SKELISKI | |||||||
| DIRECTOR | 1.50 | X | 0 | 0 | 0 | ||
| MICHAEL ROBINSON | |||||||
| DIRECTOR | 1.50 | X | 0 | 0 | 0 | ||
| GARY SOUKENIK | |||||||
| PRESIDENT & | 45.00 | 409051 | 0 | 44862 | X | ||
| JEROME MCGEE | |||||||
| EXECUTIVE VP | 45.00 | 199171 | 0 | 43320 | X | ||
| MICHAEL DONADIO | |||||||
| SENIOR VP, L | 45.00 | 176148 | 0 | 37969 | X | ||
| PHILLIP SZEPIETOWSKI | |||||||
| SENIOR VP, B | 45.00 | 163669 | 0 | 35408 | X | ||
| CHERYL D'AMORE | |||||||
| SENIOR VP, A | 45.00 | 154942 | 0 | 34884 | X | ||
| CAMILLE FAVRE | |||||||
| SENIOR VP, H | 45.00 | 142735 | 0 | 42970 | X | ||
| ERIC LANHAM | |||||||
| SENIOR VP MA | 45.00 | 108874 | 0 | 16579 | X | ||
| AARON FRANK | |||||||
| LOAN ORIGINA | 45.00 | 168507 | 0 | 17669 | X | ||
| STEPHANIE PAPPADA | |||||||
| LOAN ORIGINA | 45.00 | 163402 | 0 | 24487 | X | ||
| RONALD MINTUS | |||||||
| IT MANAGER | 45.00 | 117150 | 0 | 26227 | X | ||
| DARLENE CESTA | |||||||
| LENDING MNGR | 45.00 | 110080 | 0 | 16767 | X | ||
| MARGE COOK | |||||||
| BRANCH MNGR | 45.00 | 108852 | 0 | 28797 | X | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 2031255 | TotalReportableCompFromOrg |
| Total Other Compensation | 369939 | TotalOtherCompensation |
| Number Individuals GT100 K | 12 | NumberIndividualsGT100K |
| Formers Listed | false | FormersListed |
| Total Comp GT150 K | true | TotalCompGT150K |
| Compensation From Other Sources | false | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (4 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| AMERICAN LAND TITLE | |||||
| 815 YOUNGSTOWN-WARREN RD 2 | NILES | OH | 44446 | TITLE | 283255 |
| CRAIG W RELMAN CO LPA | |||||
| 26851 MILES RD UNIT 204 | CLEVELAND | OH | 44128 | LEGAL | 114632 |
| VALLY TITLE & ESCROW | |||||
| PO BOX 1429 | WARREN | OH | 44482 | TITLE | 108948 |
| LAMAR COMPANIES | |||||
| PO BOX 96030 | BATON ROUGE | LA | 70896 | OFFICE | 100461 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 4 | NumberOfContractorsGT100K |
Program Service Revenue ProgramServiceRevenue (5 entries)
| DescriptionDescription | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome | Business CodeBusinessCode | Unrelated Business RevenueUnrelatedBusinessRevenue |
|---|---|---|---|---|
| INTEREST ON LOANS | 29290769 | 29290769 | ||
| FEE INCOME | 7690438 | 7690438 | ||
| OTHER OPERATING INCOME | 6167437 | 6167437 | ||
| NON-MEMBER ATM FEES | 191774 | 900004 | 191774 | |
| RELATED CO PAYMENTS | 1872 | 900003 | 1872 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 43342290 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 2755127 | TotalRevenueColumn |
| Related Or Exempt Function Income | 2755127 | RelatedOrExemptFunctionIncome |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 46097417 | TotalRevenueColumn |
| Related Or Exempt Function Income | 45903771 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 193646 | UnrelatedBusinessRevenue |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1211856 | Total |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 17090916 | Total |
Fees For Services Management FeesForServicesManagement
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 50099 | Total |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 65612 | Total |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 17310 | Total |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 69182 | Total |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1766445 | Total |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 6241725 | Total |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1927475 | Total |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 91345 | Total |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 68475 | Total |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 5728980 | Total |
Other Expenses OtherExpenses (4 entries)
| DescriptionDescription | TotalTotal |
|---|---|
| PROVISION FOR LOAN LOSSES | 2727751 |
| OTHER OPERATING EXP | 1670117 |
| NCUSIF STABILIZATION EXP | 661801 |
| LOAN SERVICING | 468640 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 203054 | Total |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 40060783 | Total |
| Program Services | 0 | ProgramServices |
| Management And General | 0 | ManagementAndGeneral |
| Fundraising | 0 | Fundraising |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 7225244 | BOY |
| EOY | 8786055 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 65449034 | BOY |
| EOY | 57668268 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 491939961 | BOY |
| EOY | 514122004 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 28275952 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 18221988 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 10479491 | BOY |
| EOY | 10053964 | EOY |
Investments Pub Traded Securities InvestmentsPubTradedSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 145961146 | BOY |
| EOY | 186210695 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 28709597 | BOY |
| EOY | 24693245 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 25956326 | BOY |
| EOY | 29951789 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 775720799 | BOY |
| EOY | 831486020 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 17424440 | BOY |
| EOY | 16704527 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 676979766 | BOY |
| EOY | 727470309 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 694404206 | BOY |
| EOY | 744174836 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Do Not Follow SFAS117 | X | DoNotFollowSFAS117 |
Retained Earnings Endowment Etc RetainedEarningsEndowmentEtc
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 81316593 | BOY |
| EOY | 87311184 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 81316593 | BOY |
| EOY | 87311184 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 775720799 | BOY |
| EOY | 831486020 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expenses | 6036634 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | -42043 | ReconcilationOtherChanges |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | false | AccountantCompileOrReview |
| FS Audited | true | FSAudited |
FS Audited Basis FSAuditedBasis
| Field | Value | IRS element (for citing) |
|---|---|---|
| Financial Statement Consolidated | X | FinancialStatementConsolidated |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | true | AuditCommittee |
| Federal Grant Audit Required | false | FederalGrantAuditRequired |
Schedule D IRS990ScheduleD
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 1551962 | OtherCostOrOtherBasis |
| Book Value | 1551962 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 14835014 | OtherCostOrOtherBasis |
| Depreciation | 7857336 | Depreciation |
| Book Value | 6977678 | BookValue |
Leasehold Improvements LeaseholdImprovements
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 3502997 | OtherCostOrOtherBasis |
| Depreciation | 3138081 | Depreciation |
| Book Value | 364916 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 8385979 | OtherCostOrOtherBasis |
| Depreciation | 7226571 | Depreciation |
| Book Value | 1159408 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 10053964 | TotalOfBookValueLandBuildings |
Other Liabilities OtherLiabilities (7 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| MONEY MARKET ACCOUNTS | $234,482,827 |
| SHARE ACCOUNTS | $181,270,874 |
| SHARE CERTIFICATE ACCOUNTS | $121,922,252 |
| SHARE DRAFT ACCOUNTS | $97,311,967 |
| IRA ACCOUNTS | $72,296,959 |
| OTHER SHARE ACCTS | $19,738,430 |
| NONMEMBER DEPOSITS | $447,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 727470309 | TotalOfAmounts |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | X | TravelForCompanions |
| Club Dues Or Fees | X | ClubDuesOrFees |
| Written Policy Re T And E Expenses | true | WrittenPolicyReTAndEExpenses |
| Substantiation Required | true | SubstantiationRequired |
| Compensation Committee | X | CompensationCommittee |
| Independent Consultant | X | IndependentConsultant |
| Compensation Survey | X | CompensationSurvey |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | false | SeverancePayment |
| Supplemental Nonqual Retire Plan | false | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | false | EquityBasedCompArrangement |
Form990 Schedule J Part II Form990ScheduleJPartII (8 entries)
| TitleTitle | Base Compensation Filing OrgBaseCompensationFilingOrg | Bonus Filing OrgBonusFilingOrg | Deferred Comp Filing OrgDeferredCompFilingOrg | Total Compensation Filing OrgTotalCompensationFilingOrg |
|---|---|---|---|---|
| GARY SOUKENIK | ||||
| PRESIDENT & CEO | 333093 | 75958 | 44862 | 453913 |
| JEROME MCGEE | ||||
| EXECUTIVE VP CFO | 167887 | 31284 | 43320 | 242491 |
| MICHAEL DONADIO | ||||
| SENIOR VP LENDING | 153176 | 22972 | 37969 | 214117 |
| PHILLIP SZEPIETOWSKI | ||||
| SENIOR VP BRANCH | 142886 | 20783 | 35408 | 199077 |
| CHERYL D'AMORE | ||||
| SENIOR VP ADMIN | 135787 | 19155 | 34884 | 189826 |
| CAMILLE FAVRE | ||||
| SENIOR VP HUMAN RES | 123209 | 19526 | 42970 | 185705 |
| AARON FRANK | ||||
| LOAN ORIGINATOR | 168507 | 17669 | 186176 | |
| STEPHANIE PAPPADA | ||||
| LOAN ORIGINATOR | 163402 | 24487 | 187889 | |
Form990 Schedule J Part III Form990ScheduleJPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | OTHER ADDITIONAL INFORMATION | Identifier |
| Return Reference | SCHEDULE J, PART III | ReturnReference |
| Explanation | MEMBERS OF SENIOR MANAGEMENT ARE PARTICIPANTS IN A BENEFIT PLAN REFERRED TO AS A "SERP". DURING THE YEAR ENDING DECEMBER 31, 2012 NO BENEFITS WERE PAID TO ANY PARTICIPANTS. | Explanation |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (10 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| ORGANIZATION'S MISSION | FORM 990 - ORGANIZATION'S MISSION | THE PURPOSE OF SEVEN SEVENTEEN CREDIT UNION IS TO PROMOTE THRIFT AMONG ITS MEMBERS; TO ESTABLISH, ON A COOPERATIVE BASIS, FACILITIES FOR SAVINGS; TO PROVIDE CREDIT FOR PROVIDENT AND PRODUCTIVE PURPOSES; TO PROVIDE ASSISTANCE TO ITS MEMBERS IN BUDGETING, MONEY MANAGEMENT, THE EFFECTIVE USE OF THEIR ASSETS AND RESOURCES; AND TO ENGAGE IN ALL ACTIVITIES NECESSARY AND INCIDENTAL THERETO. |
| ADDITIONAL INFORMATION | FORM 990 | NOTE REGARDING DISCOUNTED EMPLOYEE LOANS: THERE IS A PROGRAM IN PLACE THAT WAS APPROVED BY THE BORD OF DIRECTOS FOR LOANS BEING GIVEN AT DISCOUNTED RATES TO CREDIT UNION EMPLOYEES. THESE RATES ARE DISCOUNTED AT .50% INTEREST FOR CONSUMER AND HOME EQUITY LOANS AND .125% FOR FIRST MORTGAGE LOANS. IF AN EMPLOYEE IS TERMINATED FROM EMPLOYMENT, THEN THE LOAN WILL REVERT TO THE NON DISCOUNTED RATE. |
| CLASSES OF MEMBERS OR STOCKHOLDERS | FORM 990, PAGE 6, PART VI, LINE 6 | MEMBERSHIP IS OPEN TO ALL THOSE PERSONS WHO MEET THE ELIGIBILITY REQUIREMENTS, PROPERLY APPLIED FOR MEMBERSHIP, AND WHO ARE ELECTED TO MEMBERSHIP IN ANY MANNER AS SPECIFIED BY THE BOARD. ONCE BECOMING A MEMBER, MEMBERSHIP REMAINS IN EFFECT UNTIL SUCH TIME AS THE MEMBER DIES, RESIGNS, OR IS EXPELLED, UPON GOOD CAUSE AND NOTIFICATION BY THE BOARD OF DIRECTORS. |
| ELECTION OF MEMBERS AND THEIR RIGHTS | FORM 990, PAGE 6, PART VI, LINE 7A | THE ANNUAL MEETING OF THE MEMBERS FOR THE ELECTIONS OF THE DIRECTORS AND THE CONSIDERATION OF REPORTS IS HELD PRIOR TO JULY 1 OF EACH YEAR. A QUORUM OF THE MEMBERS, IN PERSON OR BY MAIL BALLOT IS USED FOR VOTING PURPOSES OF THE ANNUAL MEETING. |
| ORGANIZATION'S PROCESS USED TO REVIEW FORM 990 | FORM 990, PAGE 6, PART VI, LINE 11B | A COPY OF THE FORM AND RELATED SCHEDULES ARE REVIEWED BY THE CEO AND CFO. IT IS ALSO REVIEWED BY THE BOARD OF DIRECTORS AT A REGULARLY SCHEDULED MEETING. |
| ENFORCEMENT OF CONFLICTS POLICY | FORM 990, PAGE 6, PART VI, LINE 12C | BOARD MEMBERS, OFFICERS, AND EMPLOYEES ARE REQUESTED TO DISCLOSE ANY AND ALL CONFLICTS OF INTEREST AS THEY AROSE. A MORE FORMAL MONITORING AND ENFORCEMENT POLICY IS PLANNED TO BE IMPLEMENTED IN THE FUTURE. |
| COMPENSATION PROCESS FOR TOP OFFICIAL | FORM 990, PAGE 6, PART VI, LINE 15A | THE PROCESS USED TO SET THE CEO'S SALARY IS BASED ON A COMBINATION OF INDUSTRY DATA FROM THE "CUES" SALARY SURVEY, CUNA'S ANNUAL COMPENSATION SURVEY AND AN INDEPENDEDNT CREDIT UNION COMPENSATION CONSULTANT. THE PROCESS IS PERFORMED ANNUALLY BY THE COMPENSATION COMMITTEE (A SUBCOMMITEE OF THE BOARD OF DIRECTORS) AND PRESENTED TO THE FULL BOARD FOR APPROVAL. THE PROCESS OF ESTABLISHING AND APPROVING THE CEO'S SALARY IS DOCUMENTED IN THE BOARD MINUTES. |
| COMPENSATION PROCESS FOR OFFICERS | FORM 990, PAGE 6, PART VI, LINE 15B | THE COMPENSATION OF OFFICERS AND KEY EMPLOYEES IS BASED ON A COMBINATION OF INDUSTRY DATA AND DATA OBTAINED FROM AN INDEPENDENT COMPENSATION CONSULTANT AND IS APPROVED BY THE CEO ON AN ANNUAL BASIS. |
| GOVERNING DOCUMENTS DISCLOSURE EXPLANATION | FORM 990, PAGE 6, PART VI, LINE 19 | THE CREDIT UNIONS ANNUAL REPORT AND ANNUAL FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC THROUGH POSTINGS ON THE CREDIT UNIONS WEBSITE AT WWW.SSCU.NET. QUARTERLY FINANCIAL DATA IS ALSO AVAILABLE AT WWW.NCUA.GOV. MONTHLY FINANCIAL STATEMENTS ARE POSTED IN THE LOBBY OF THE MAIN OFFICE OF THE CREDIT UNION. GOVERNING DOCUMENTS AND THE CONLFICT OF INTEREST POLICY MAY BE MADE AVAILABLE UPON REQUEST. |
| OTHER CHANGES IN NET ASSETS EXPLANATION | FORM 990, PART XI, LINE 9 | NET CHANGE UNREALIZED GAIN (LOSS) ON SECURITIES -137,700 MERGER EQUITY 95,657 |
Schedule R IRS990ScheduleR
Form990 Schedule R Part IV Form990ScheduleRPartIV (2 entries)
| Address Line1AddressUS/AddressLine1 | CityAddressUS/City | StateAddressUS/State | ZIP CodeAddressUS/ZIPCode | EINEIN | Primary ActivityPrimaryActivity | Legal Domicile StateLegalDomicileState | Direct Controlling Entity NADirectControllingEntityNA | Controlled OrgControlledOrg | Type Of EntityTypeOfEntity | Share Of Total IncomeShareOfTotalIncome | Share Of EOY AssetsShareOfEOYAssets | Percentage OwnershipPercentageOwnership |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| KD PROPERTIES INC | ||||||||||||
| 3181 LARCHMONT AVE NE | WARREN | OH | 44483 | 341521043 | FINANCIAL | OH | N/A | false | ||||
| SOUND FINANCIAL SERVICES INC | ||||||||||||
| 3181 LARCHMONT AVE NE | WARREN | OH | 44483 | 341481162 | FINANCIAL | OH | N/A | false | C CORP | 544040 | 690736 | 1.00000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Ann Rents Royalties | true | ReceiptOfIntAnnRentsRoyalties |
| Gift Grant Or Cap Contr To Other Org | false | GiftGrantOrCapContrToOtherOrg |
| Gift Grant Or Cap Contr Fr Other Org | false | GiftGrantOrCapContrFrOtherOrg |
| Loans Or Guarantees To Other Org | false | LoansOrGuaranteesToOtherOrg |
| Loans Or Guarantees From Other Org | false | LoansOrGuaranteesFromOtherOrg |
| Dividends Related Organization | false | DividendsRelatedOrganization |
| Sale Of Assets To Other Org | false | SaleOfAssetsToOtherOrg |
| Purchase Of Assets From Other Org | false | PurchaseOfAssetsFromOtherOrg |
| Exchange Of Assets | false | ExchangeOfAssets |
| Rental Of Facilities To Other Orgs | true | RentalOfFacilitiesToOtherOrgs |
| Rental Of Facilities Fr Other Orgs | false | RentalOfFacilitiesFrOtherOrgs |
| Perform Of Services For Other Orgs | false | PerformOfServicesForOtherOrgs |
| Perform Of Services By Other Orgs | false | PerformOfServicesByOtherOrgs |
| Sharing Of Facilities | false | SharingOfFacilities |
| Sharing Of Paid Employees | false | SharingOfPaidEmployees |
| Reimbursement Paid To Other Org | false | ReimbursementPaidToOtherOrg |
| Reimbursement Paid By Other Org | false | ReimbursementPaidByOtherOrg |
| Other Transfer To Other Org | false | OtherTransferToOtherOrg |
| Other Transfer From Other Org | false | OtherTransferFromOtherOrg |
Transactions Related Orgs Table TransactionsRelatedOrgsTable (2 entries)
| Transaction TypeTransactionType | Amount InvolvedAmountInvolved |
|---|---|
| SOUND FINANCIAL SERVICES INC | |
| A | 1872 |
| KD PROPERTIES INC | |
| A | |
Comments