CENT CREDIT UNION: Form 990, tax year 2010
View the entire original 990 at ProPublica ↗
- Organization
- CENT CREDIT UNION (EIN 42-0923713)
- Tax period
- 2010-01-01 to 2010-12-31
- Filed
- 2011-05-06
- IRS object ID
- 201131269349300818
- Schema version
- 2010v3.2
- 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 | 2011-05-06T11:11:07-00:00 | Timestamp |
| Tax Period End Date | 2010-12-31 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Gardiner Thomsen | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 10555 New York Ave 200 | AddressLine1 |
| City | Des Moines | City |
| State | IA | State |
| ZIP Code | 50322 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2010-01-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 420923713 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Mercy City Lehigh Family Credit Union | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | MERC | NameControl |
| Phone | 6414227361 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1341 6th Street SW | AddressLine1 |
| City | Mason City | City |
| State | IA | State |
| ZIP Code | 50401 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | John D Sherrick | Name |
| Title | CEO | Title |
| Date Signed | 2011-05-05 | DateSigned |
| Authorize Third Party | true | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | Charles Telk Jr CPA | Name |
| Phone | 5152701446 | Phone |
| Date Prepared | 2011-05-05 | DatePrepared |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2010 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | John Sherrick | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1341 6th Street SW | AddressLine1 |
| City | Mason City | City |
| State | IA | State |
| ZIP Code | 50401 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 1458453 | GrossReceipts |
| Group Return For Affiliates | false | GroupReturnForAffiliates |
| Organization501c | X | Organization501c |
| Web Site | www.mclfcu.org | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1965 | YearFormation |
| State Legal Domicile | IA | StateLegalDomicile |
| Activity Or Mission Description | Operate for the primary purpose of promoting thrift, providing credit at reasonable rates, and providing other financial services to its members. Operate for the primary purpose of promoting thrift, providing credit at reasonable rates, and providing other financial services to its members. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 14 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 14 | NbrIndependentVotingMembers |
| Total Nbr Employees | 12 | TotalNbrEmployees |
| Total Gross UBI | 0 | TotalGrossUBI |
| Contributions Grants Current Year | 0 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 1094137 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 1068996 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 189657 | InvestmentIncomePriorYear |
| Investment Income Current Year | 167872 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 199083 | OtherRevenuePriorYear |
| Other Revenue Current Year | 221585 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 1482877 | TotalRevenuePriorYear |
| Total Revenue Current Year | 1458453 | TotalRevenueCurrentYear |
| Grants And Similar Amnts CY | 0 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 412232 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 447147 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 0 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 780524 | OtherExpensePriorYear |
| Other Expenses Current Year | 745753 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 1192756 | TotalExpensesPriorYear |
| Total Expenses Current Year | 1192900 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 290121 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 265553 | RevenuesLessExpensesCY |
| Total Assets BOY | 28949220 | TotalAssetsBOY |
| Total Assets EOY | 29662921 | TotalAssetsEOY |
| Total Liabilities BOY | 24756165 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 25206702 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 4193055 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 4456219 | NetAssetsOrFundBalancesEOY |
| Mission Description | Operate for the primary purpose of promoting thrift, providing credit at reasonable rates, and providing other financial services to its members. | MissionDescription |
| Significant New Program Services | false | SignificantNewProgramServices |
| Significant Change | false | SignificantChange |
| Expense | 1192900 | Expense |
| Revenue | 1458453 | Revenue |
| Description | SEE SERVICES. | Description |
| Total Program Service Expense | 1192900 | TotalProgramServiceExpense |
| Described In501 C3 | false | DescribedIn501C3 |
| Schedule B Required | false | ScheduleBRequired |
| Political Activities | false | PoliticalActivities |
| 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 | true | ReportProgRelInvest |
| Report Other Assets | false | ReportOtherAssets |
| Report Other Liabilities | true | ReportOtherLiabilities |
| Report Fin48 Footnote | false | ReportFin48Footnote |
| Independent Audit Financial Stmt | true | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | false | 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 | false | ScheduleJRequired |
| Tax Exempt Bonds | false | TaxExemptBonds |
| Invest Tax Exempt Bonds | false | InvestTaxExemptBonds |
| Escrow Account | false | EscrowAccount |
| On Behalf Of Issuer | false | OnBehalfOfIssuer |
| Prior Excess Benefit Transaction | false | PriorExcessBenefitTransaction |
| Loan To Officer Or DQP | true | 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 | false | RelatedEntity |
| Related Org Controlled Entity | false | RelatedOrgControlledEntity |
| Transaction Related Entity | false | TransactionRelatedEntity |
| Transfers To Exempt Non Chrtbl Org | false | TransfersToExemptNonChrtblOrg |
| Activities Conducted Partnership | false | ActivitiesConductedPartnership |
| Schedule O Required | true | ScheduleORequired |
| Number Forms Transmitted With1096 | 250 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | true | ComplianceWithBackupWitholding |
| Number Of Employees | 12 | 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 |
| Quid Pro Quo Contributions | false | QuidProQuoContributions |
| Funds To Pay Premiums | false | FundsToPayPremiums |
| Premiums Paid | false | PremiumsPaid |
| Excess Business Holdings | false | ExcessBusinessHoldings |
| Taxable Distributions | false | TaxableDistributions |
| Distribution To Donor | false | DistributionToDonor |
| Indoor Tanning Services | false | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 14 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 14 | NumberIndependentVotingMembers |
| Family Or Business Relationship | true | 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 | true | DecisionsSubjectToApproval |
| Minutes Of Governing Body | true | MinutesOfGoverningBody |
| Minutes Of Committees | true | MinutesOfCommittees |
| Officer Mailing Address | false | OfficerMailingAddress |
| Local Chapters | false | LocalChapters |
| Form990 Provided To Governing Body | false | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | false | ConflictOfInterestPolicy |
| Whistleblower Policy | false | WhistleblowerPolicy |
| Document Retention Policy | true | DocumentRetentionPolicy |
| Compensation Process CEO | true | CompensationProcessCEO |
| Compensation Process Other | false | CompensationProcessOther |
| Investment In Joint Venture | false | InvestmentInJointVenture |
| States Where Copy Of Return Is Filed | IA | StatesWhereCopyOfReturnIsFiled |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | John Sherrick | NamePerson |
| Telephone Number | 6414227361 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1341 6th Street SW | AddressLine1 |
| City | Mason City | City |
| State | IA | State |
| ZIP Code | 50401 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (16 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | OfficerOfficer | Key EmployeeKeyEmployee | Highest Compensated EmployeeHighestCompensatedEmployee | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | Individual Trustee Or DirectorIndividualTrusteeOrDirector |
|---|---|---|---|---|---|---|---|---|
| John Sherrick | ||||||||
| CEO | 040.00 | X | X | X | 86000 | 0 | 0 | |
| Sue Dempsey | ||||||||
| Office Manager | 040.00 | X | 54100 | 0 | 0 | |||
| Bradden Cannon | ||||||||
| Director | 001.00 | 0 | 0 | 0 | X | |||
| Bill Basler | ||||||||
| Director | 001.00 | 0 | 0 | 0 | X | |||
| Todd Cash | ||||||||
| Director | 001.00 | 0 | 0 | 0 | X | |||
| Ron Guthrie | ||||||||
| Director | 001.00 | 0 | 0 | 0 | X | |||
| David Hickman | ||||||||
| Director | 001.00 | 0 | 0 | 0 | X | |||
| Kevin Jacobson | ||||||||
| Director | 001.00 | 0 | 0 | 0 | X | |||
| Gregory Lee | ||||||||
| Director | 001.00 | 0 | 0 | 0 | X | |||
| Richard Malinaric | ||||||||
| Director | 001.00 | 0 | 0 | 0 | X | |||
| Harland Olsen | ||||||||
| Director | 001.00 | 0 | 0 | 0 | X | |||
| Deb Orozco | ||||||||
| Director | 001.00 | 0 | 0 | 0 | X | |||
| Bill Orozco | ||||||||
| Director | 001.00 | 0 | 0 | 0 | X | |||
| Barry Collette | ||||||||
| Director | 001.00 | 0 | 0 | 0 | X | |||
| Brenda Rasmuson | ||||||||
| Director | 001.00 | 0 | 0 | 0 | X | |||
| Ashley Nelson | ||||||||
| Director | 001.00 | 0 | 0 | 0 | X | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 140100 | TotalReportableCompFromOrg |
| Formers Listed | false | FormersListed |
| Total Comp GT150 K | false | TotalCompGT150K |
| Compensation From Other Sources | false | CompensationFromOtherSources |
Program Service Revenue ProgramServiceRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | Interest on Loans | Description |
| Business Code | 522100 | BusinessCode |
| Total Revenue Column | 1068996 | TotalRevenueColumn |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 1068996 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 167872 | TotalRevenueColumn |
Miscellaneous Revenue MiscellaneousRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 221585 | TotalRevenueColumn |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | 221585 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 1458453 | TotalRevenueColumn |
Grants To Domestic Orgs GrantsToDomesticOrgs
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Grants To Domestic Individuals GrantsToDomesticIndividuals
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Foreign Grants ForeignGrants
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Benefits To Members BenefitsToMembers
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 140100 | Total |
| Program Services | 140100 | ProgramServices |
Comp Disqual Persons CompDisqualPersons
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 215080 | Total |
| Program Services | 215080 | ProgramServices |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 15217 | Total |
| Program Services | 15217 | ProgramServices |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 40408 | Total |
| Program Services | 40408 | ProgramServices |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 36342 | Total |
| Program Services | 36342 | ProgramServices |
Fees For Services Management FeesForServicesManagement
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 3872 | Total |
| Program Services | 3872 | ProgramServices |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 7306 | Total |
| Program Services | 7306 | ProgramServices |
Fees For Services Lobbying FeesForServicesLobbying
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Fees For Services Prof Fundraising | FeesForServicesProfFundraising |
Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 6664 | Total |
| Program Services | 6664 | ProgramServices |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 12786 | Total |
| Program Services | 12786 | ProgramServices |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 189569 | Total |
| Program Services | 189569 | ProgramServices |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 74696 | Total |
| Program Services | 74696 | ProgramServices |
Royalties Royalties
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 24777 | Total |
| Program Services | 24777 | ProgramServices |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1747 | Total |
| Program Services | 1747 | ProgramServices |
Travel Entrtnmnt Public Officials TravelEntrtnmntPublicOfficials
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 259630 | Total |
| Program Services | 259630 | ProgramServices |
Payments To Affiliates PaymentsToAffiliates
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 16817 | Total |
| Program Services | 16817 | ProgramServices |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 20536 | Total |
| Program Services | 20536 | ProgramServices |
Other Expenses OtherExpenses (2 entries)
| DescriptionDescription | TotalTotal | Program ServicesProgramServices |
|---|---|---|
| Loan Servicing | 20300 | 20300 |
| NCUSIF | 66996 | 66996 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 40057 | Total |
| Program Services | 40057 | ProgramServices |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1192900 | Total |
| Program Services | 1192900 | ProgramServices |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 291025 | BOY |
| EOY | 266782 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 4833082 | BOY |
| EOY | 4871888 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 18096746 | BOY |
| EOY | 18407114 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 24079 | BOY |
| EOY | 25153 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 668113 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 297930 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 283180 | BOY |
| EOY | 370183 | EOY |
Investments Program Related InvestmentsProgramRelated
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 5345762 | BOY |
| EOY | 5653918 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 75346 | BOY |
| EOY | 67883 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 28949220 | BOY |
| EOY | 29662921 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 105509 | BOY |
| EOY | 73931 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 24650656 | BOY |
| EOY | 25132771 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 24756165 | BOY |
| EOY | 25206702 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Do Not Follow SFAS117 | X | DoNotFollowSFAS117 |
Paid In Cap Srpls Land Bldg Eqp Fund PaidInCapSrplsLandBldgEqpFund
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 959169 | BOY |
| EOY | 1059169 | EOY |
Retained Earnings Endowment Etc RetainedEarningsEndowmentEtc
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3233886 | BOY |
| EOY | 3397050 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 4193055 | BOY |
| EOY | 4456219 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 28949220 | BOY |
| EOY | 29662921 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | 265553 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | -2389 | ReconcilationOtherChanges |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | true | AccountantCompileOrReview |
| FS Audited | false | FSAudited |
| Audit Committee | true | AuditCommittee |
| Financial Statement Separate | X | FinancialStatementSeparate |
| Federal Grant Audit Required | false | FederalGrantAuditRequired |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Included On FS | false | IncludedOnFS |
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 50089 | OtherCostOrOtherBasis |
| Book Value | 50089 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 420292 | OtherCostOrOtherBasis |
| Depreciation | 103803 | Depreciation |
| Book Value | 316489 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 186651 | OtherCostOrOtherBasis |
| Depreciation | 186112 | Depreciation |
| Book Value | 539 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 11081 | OtherCostOrOtherBasis |
| Depreciation | 8015 | Depreciation |
| Book Value | 3066 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 370183 | TotalOfBookValueLandBuildings |
Investments Program Related InvestmentsProgramRelated (4 entries)
| DescriptionDescription | Book ValueBookValue | Method Of ValuationMethodOfValuation |
|---|---|---|
| Certificates of Deposit | 4324000 | F |
| Deposits in banks | 108786 | F |
| Investments in Credit Unions | 974344 | F |
| NCUSIF Deposit | 246788 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Program Related | 5653918 | TotalOfBookValueProgramRelated |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | Member Shares Certificates of Deposit | Description |
| Amount | $25,132,771 | Amount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 25132771 | TotalOfAmounts |
| Total Revenue | 1458453 | TotalRevenue |
| Total Expenses | 1192900 | TotalExpenses |
| Excess Or Deficit For Year | 265553 | ExcessOrDeficitForYear |
| Excess Or Deficit Per FS | 265553 | ExcessOrDeficitPerFS |
| Tot Revenue Etc Audited Fincl Stmt | 1458453 | TotRevenueEtcAuditedFinclStmt |
| Revenue Subtotal | 1458453 | RevenueSubtotal |
| Total Revenue Per Form990 | 1458453 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 1192900 | TotExpensesEtcAuditedFinclStmt |
| Expenses Subtotal | 1192900 | ExpensesSubtotal |
| Total Expenses Per Form990 | 1192900 | TotalExpensesPerForm990 |
Schedule L IRS990ScheduleL
Loan Table LoanTable (17 entries)
| Purpose Of LoanPurposeOfLoan | Loan From OrganizationLoanFromOrganization | Original PrincipalOriginalPrincipalAmount | Balance DueBalanceDue | DefaultDefault | Approved By BoardApprovedByBoard | Written AgreementWrittenAgreement |
|---|---|---|---|---|---|---|
| Bill Basler | ||||||
| Home Equity | X | $74,800 | 41094 | false | true | true |
| Sue Dempsey | ||||||
| Mortgage | X | $65,473 | 38184 | false | true | true |
| Todd Cash | ||||||
| Auto | X | $13,500 | 10110 | false | true | true |
| Todd Cash | ||||||
| Auto | X | $11,250 | 5888 | false | true | true |
| Todd Cash | ||||||
| Auto | X | $8,250 | 7961 | false | true | true |
| Barry Collette | ||||||
| Auto | X | $8,700 | 5539 | false | true | true |
| Ron Guthrie | ||||||
| Auto | X | $17,024 | 5937 | false | true | true |
| Kevin Jacobson | ||||||
| Auto | X | $28,000 | 7115 | false | true | true |
| Greg Lee | ||||||
| Auto | X | $25,800 | 17718 | false | true | true |
| Greg Lee | ||||||
| Auto | X | $6,314 | 467 | false | true | true |
| Greg Lee | ||||||
| Auto | X | $17,723 | 15670 | false | true | true |
| Greg Lee | ||||||
| Mortgage | X | $74,587 | 44642 | false | true | true |
| Bill Orozco | ||||||
| Auto | X | $30,000 | 12903 | false | true | true |
| Bill Orozco | ||||||
| Mortgage | X | $80,000 | 50846 | false | true | true |
| Bill Orozco | ||||||
| Auto | X | $11,000 | 7603 | false | true | true |
| John Sherrick | ||||||
| Mortgage | X | $136,030 | 133810 | false | true | true |
| John Sherrick | ||||||
| Auto | X | $18,300 | 14866 | false | true | true |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | 420353 | TotalBalanceDue |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (8 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| Form 990 Part VI | 6 | The organization is a credit union with members. |
| Form 990 Part VI | 7a | The organizations members elect members to the board of directors on an annual basis or as vacancies arise. |
| Form 990 Part VI | 7b | The decisions of the governing body subject to approval by the members are mergers, acquisitions, and whether to change from a not-for-profit to a for-profit organization. |
| Form 990 Part VI | 11a | After the organizations external auditors prepare the Form 990, the CEO reviews the documents. The CEO utimately signs-off on the documents and provides approval prior to the documentation being submitted to the IRS. |
| Form 990 Part VI | 12c | On an annual basis the organizations officers, directors, and staff personnel are questioned as to any potential conflicts of interest. Any potential conflicts are noted and monitored. This process is repeated annaully. |
| Form 990 Part VI | 15a/15b | The process for determing compensation for officers, directors, key employees, and other includes independent, third-party information in conjucture with conptemporaneous substantiantion and deliberation before a final decision is made by the CEO or board of directors. |
| Form 990 Part VI | 19 | The organization makes its financial statements and govering documents available via the Iowa Credit Union Division. Financial statements are also available on the National Credit Union Administrations website via Call Reports that are submitted on a quarterly basis. |
| Form 990 Part XI | 5 | The change in net assets is due to change in unrealized gains on available for sale securities. |
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