MIDLAND CREDIT UNION: Form 990, tax year 2022
View the entire original 990 at ProPublica ↗
- Organization
- MIDLAND CREDIT UNION (EIN 42-0816632)
- Tax period
- 2022-01-01 to 2022-12-31
- Filed
- 2023-06-20
- IRS object ID
- 202341719349301314
- Schema version
- 2022v5.0
- 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) |
|---|---|---|
| Return | 2023-06-20T12:40:36-05:00 | ReturnTs |
| Tax Period End | 2022-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 421186197 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | GARDINER COMPANY PC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 10555 NEW YORK AVENUE SUITE 200 | AddressLine1Txt |
| City | DES MOINES | CityNm |
| State Abbreviation | IA | StateAbbreviationCd |
| ZIP | 50322 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2022-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 420816632 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MIDLAND CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | MIDL | BusinessNameControlTxt |
| Phone | 5152781994 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2891 106TH STREET | AddressLine1Txt |
| City | URBANDALE | CityNm |
| State Abbreviation | IA | StateAbbreviationCd |
| ZIP | 50322 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | MINDY COOPER | PersonNm |
| Person Title | CFO | PersonTitleTxt |
| Phone | 5152781994 | PhoneNum |
| Signature | 2023-06-13 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | MINDY | PersonFirstNm |
| Person Last | COOPER | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | XXX-XX-XXXX | SSN |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | 0 | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | DENNIS GARDINER CPA | PreparerPersonNm |
| PTIN | P02167685 | PTIN |
| Phone | 5152701446 | PhoneNum |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 2 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2022 | TaxYr |
| Build TS | 2023-04-26 12:10:37Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | MINDY COOPER | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2891 106TH STREET | AddressLine1Txt |
| City | URBANDALE | CityNm |
| State Abbreviation | IA | StateAbbreviationCd |
| ZIP | 50322 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $3,470,213 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.MIDLANDCU.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1933 | FormationYr |
| Legal Domicile State | IA | LegalDomicileStateCd |
| Activity Or Mission | PEOPLE HELPING PEOPLE; LOW COST LOANS, LOW COST SHARES AND SHARE DRAFTS, CERTIFICATES OF DEPOSIT WITH RATES ABOVE BANKS. | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 9 | VotingMembersIndependentCnt |
| Total Employee | 21 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $504 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $2,843,575 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $3,168,630 | CYProgramServiceRevenueAmt |
| PY Investment Income | $210,154 | PYInvestmentIncomeAmt |
| CY Investment Income | $278,735 | CYInvestmentIncomeAmt |
| PY Other Revenue | $16,176 | PYOtherRevenueAmt |
| CY Other Revenue | $22,848 | CYOtherRevenueAmt |
| PY Total Revenue | $3,069,905 | PYTotalRevenueAmt |
| CY Total Revenue | $3,470,213 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $1,042,273 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $1,100,879 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $1,762,627 | PYOtherExpensesAmt |
| CY Other Expenses | $2,309,795 | CYOtherExpensesAmt |
| PY Total Expenses | $2,804,900 | PYTotalExpensesAmt |
| CY Total Expenses | $3,410,674 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $265,005 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $59,539 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $71,007,624 | TotalAssetsBOYAmt |
| Total Assets EOY | $76,091,305 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $63,293,078 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $68,317,220 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $7,714,546 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $7,774,085 | NetAssetsOrFundBalancesEOYAmt |
| Mission | PEOPLE HELPING PEOPLE; LOW COST LOANS, LOW COST SHARES AND SHARE DRAFTS, CERTIFICATES OF DEPOSIT WITH RATES ABOVE BANKS. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $3,410,674 | ExpenseAmt |
| Revenue | $3,181,590 | RevenueAmt |
| Desc | MIDLAND CREDIT UNION OFFERS A VARIETY OF SERVICES TO ITS MEMBERS. FOR THE 2022 TAX YEAR THEY SERVICED SHARE DRAFT-CHECKING ACCOUNTS, OFFERED SAVINGS AND CERTIFICATES ACCOUNTS AND MAINTAINED CONSUMER AND MORTAGE LOANS. TOTAL MEMBERS SERVED WAS APPROXIMATELY 4,748 DURING THE YEAR. | Desc |
| Total Program Service Expenses | $3,410,674 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | Yes (1) | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 1571 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 21 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 9 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 9 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | Yes (1) | LocalChaptersInd |
| Policies Reference Chapters | Yes (1) | PoliciesReferenceChaptersInd |
| Form990 Provided To Gvrn Body | 0 | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | 0 | RegularMonitoringEnfrcInd |
| Whistleblower Policy | 0 | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MINDY COOPER | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 5152781994 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2891 106TH STREET | AddressLine1Txt |
| City | URBANDALE | CityNm |
| State Abbreviation | IA | StateAbbreviationCd |
| ZIP | 50322 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (11 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt |
|---|---|---|---|---|---|---|
| FRANK WIMLER | ||||||
| CHAIR | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| RYAN BHATTACHARYYA | ||||||
| VICE CHAIRMAN | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| TIFFANY MENKE | ||||||
| SECRETARY | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| TROY WHITE | ||||||
| BOARD CFO | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| LINDA GAST | ||||||
| AUDIT COMMITTEE CHAIR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| STEVEN CORREA | ||||||
| CREDIT COMMITTEE CHAIR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| JOHN COLBY | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| KIM KNOLL | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| ERIC WILLIAMS | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| RANDY HASS | ||||||
| CEO | 48.00 | Yes (X) | $160,661 | $0 | $18,903 | |
| MINDY COOPER | ||||||
| CFO | 48.00 | Yes (X) | $115,444 | $0 | $17,737 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $276,105 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $36,640 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 2 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp
Contractor Name ContractorName
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | JC TOLAND PAINTING LLC | BusinessNameLine1Txt |
Contractor Address ContractorAddress
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 397 NW 43RD PL | AddressLine1Txt |
| City | DES MOINES | CityNm |
| State Abbreviation | IA | StateAbbreviationCd |
| ZIP | 50313 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Services | LIEN SETTLEMENT FROM BONDURANT BUILD CON | ServicesDesc |
| Compensation | $105,000 | CompensationAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 1 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (5 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| LOAN INTEREST | 522100 | $2,299,663 | $2,299,663 |
| CREDIT CARD FEES | 522100 | $463,864 | $463,864 |
| NSF CHARGES | 522100 | $164,898 | $164,898 |
| DEBT PROTECTION | 522100 | $117,038 | $117,038 |
| SERVICE FEES | 522100 | $97,735 | $97,735 |
Total Oth Program Service Rev TotalOthProgramServiceRevGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $25,432 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $25,432 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $3,168,630 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $278,735 | TotalRevenueColumnAmt |
| Exclusion | $278,735 | ExclusionAmt |
Royalties Revenue RoyaltiesRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $9,384 | TotalRevenueColumnAmt |
| Exclusion | $9,384 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| ATM FEES | 522100 | $7,875 | $7,875 | |
| MISCELLANEOUS INCOME | 522100 | $5,385 | $5,085 | $300 |
| ATM FEES - NON MEMBER | 522100 | $204 | $204 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $13,464 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $3,470,213 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $3,181,590 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $504 | UnrelatedBusinessRevenueAmt |
| Exclusion | $288,119 | ExclusionAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $312,744 | TotalAmt |
| Program Services | $312,744 | ProgramServicesAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $710,972 | TotalAmt |
| Program Services | $710,972 | ProgramServicesAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $26,994 | TotalAmt |
| Program Services | $26,994 | ProgramServicesAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $50,169 | TotalAmt |
| Program Services | $50,169 | ProgramServicesAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,575 | TotalAmt |
| Program Services | $3,575 | ProgramServicesAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $15,650 | TotalAmt |
| Program Services | $15,650 | ProgramServicesAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $184,903 | TotalAmt |
| Program Services | $184,903 | ProgramServicesAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $223,564 | TotalAmt |
| Program Services | $223,564 | ProgramServicesAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $142,325 | TotalAmt |
| Program Services | $142,325 | ProgramServicesAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $622,828 | TotalAmt |
| Program Services | $622,828 | ProgramServicesAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,345 | TotalAmt |
| Program Services | $2,345 | ProgramServicesAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $33,896 | TotalAmt |
| Program Services | $33,896 | ProgramServicesAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $272,035 | TotalAmt |
| Program Services | $272,035 | ProgramServicesAmt |
Payments To Affiliates PaymentsToAffiliatesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $10,080 | TotalAmt |
| Program Services | $10,080 | ProgramServicesAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $211,927 | TotalAmt |
| Program Services | $211,927 | ProgramServicesAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $29,138 | TotalAmt |
| Program Services | $29,138 | ProgramServicesAmt |
Other Expenses OtherExpensesGrp (2 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt |
|---|---|---|
| DEBIT/CREDIT CARD EXPEN | $358,005 | $358,005 |
| PROVISION FOR LOAN LOSS | -$78,700 | -$78,700 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $278,224 | TotalAmt |
| Program Services | $278,224 | ProgramServicesAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,410,674 | TotalAmt |
| Program Services | $3,410,674 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $738,674 | BOYAmt |
| EOY | $405,246 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,708,760 | BOYAmt |
| EOY | $5,284,651 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $44,293,674 | BOYAmt |
| EOY | $52,370,386 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $236,959 | BOYAmt |
| EOY | $221,194 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $3,416,043 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $1,276,888 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,161,515 | BOYAmt |
| EOY | $2,139,155 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,993,906 | BOYAmt |
| EOY | $12,909,808 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,874,136 | BOYAmt |
| EOY | $2,760,865 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $71,007,624 | BOYAmt |
| EOY | $76,091,305 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $381,196 | BOYAmt |
| EOY | $275,420 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $62,911,882 | BOYAmt |
| EOY | $68,041,800 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $63,293,078 | BOYAmt |
| EOY | $68,317,220 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,699,861 | BOYAmt |
| EOY | $3,163,861 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,014,685 | BOYAmt |
| EOY | $4,610,224 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,714,546 | BOYAmt |
| EOY | $7,774,085 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $71,007,624 | BOYAmt |
| EOY | $76,091,305 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $59,539 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $610,000 | OtherCostOrOtherBasisAmt |
| Book Value | $610,000 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,840,087 | OtherCostOrOtherBasisAmt |
| Depreciation | $648,386 | DepreciationAmt |
| Book Value | $1,191,701 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $125,638 | OtherCostOrOtherBasisAmt |
| Depreciation | $121,364 | DepreciationAmt |
| Book Value | $4,274 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $840,318 | OtherCostOrOtherBasisAmt |
| Depreciation | $507,138 | DepreciationAmt |
| Book Value | $333,180 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $2,139,155 | TotalBookValueLandBuildingsAmt |
Invst Program Related Org InvstProgramRelatedOrgGrp (2 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| NCB RESERVE 12 MONTH CERTIFICATE | $850,000 | C |
| BANK & CREDIT UNION CERTIFICATES OF DEPOSITS | $12,059,808 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Program Rltd | $12,909,808 | TotalBookValueProgramRltdAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | MEMBER SHARES | Desc |
| Amt | $68,041,800 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $68,041,800 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $3,470,213 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $3,470,213 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $3,470,213 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $3,410,674 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $3,410,674 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $3,410,674 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART X, LINE 2: | FormAndLineReferenceDesc |
| Explanation | IN ACCORDANCE WITH ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES UNDER THE INCOME TAXES TOPIC OF THE FASB ASC THE CREDIT UNION RECOGNIZES ANY UNCERTAIN TAX BENEFITS IF SUCH BENEFITS ARE A RESULT OF A TAX POSITION THAT IS MORE LIKELY THAN NOT SUSTAINABLE UPON EXAMINATION BY FEDERAL OR STATE TAX AUTHORITIES. WHEN AN UNCERTAIN BENEFIT IS DETERMINED TO BE MORE LIKELY THAN NOT SUSTAINED, THE CREDIT UNION VALUES THE POSITION, FOR FINANCIAL STATEMENT PURPOSES, OF THE LARGEST AMOUNT OF THE TAX BENEFIT THAT IS MORE THAN 50% LIKELY OF BEING REALIZED UPON RESOLUTION OF THE BENEFIT. FOR ANY TAX POSITIONS TAKEN THAT DO NOT MEET THE MORE LIKELY THAN NOT CRITERIA, THE CREDIT UNION ESTABLISHES A TAX RESERVE FOR 100% OF THE POSITION TAKEN. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (1) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | RANDY HASS | PersonNm |
| Title | CEO | TitleTxt |
| Base Compensation Filing Org | $146,828 | BaseCompensationFilingOrgAmt |
| Compensation Based On Rltd Orgs | $0 | CompensationBasedOnRltdOrgsAmt |
| Bonus Filing Organization | $13,833 | BonusFilingOrganizationAmount |
| Bonus Related Organizations | $0 | BonusRelatedOrganizationsAmt |
| Other Compensation Filing Org | $0 | OtherCompensationFilingOrgAmt |
| Other Compensation Rltd Orgs | $0 | OtherCompensationRltdOrgsAmt |
| Deferred Compensation Flng Org | $12,831 | DeferredCompensationFlngOrgAmt |
| Deferred Comp Rltd Orgs | $0 | DeferredCompRltdOrgsAmt |
| Nontaxable Benefits Filing Org | $6,072 | NontaxableBenefitsFilingOrgAmt |
| Nontaxable Benefits Rltd Orgs | $0 | NontaxableBenefitsRltdOrgsAmt |
| Total Compensation Filing Org | $179,564 | TotalCompensationFilingOrgAmt |
| Total Compensation Rltd Orgs | $0 | TotalCompensationRltdOrgsAmt |
| Comp Report Prior990 Filing Org | $0 | CompReportPrior990FilingOrgAmt |
| Comp Report Prior990 Rltd Orgs | $0 | CompReportPrior990RltdOrgsAmt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (7 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | MIDLAND CREDIT UNION IS SUPPORTED BY MEMBERS. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE MEMBERS OF THE ORGANIZATION HAVE THE RIGHT TO VOTE FOR ONE OR MORE MEMBERS OF THE GOVERNING BODY AT ANNUAL MEETINGS. |
| FORM 990, PART VI, SECTION A, LINE 7B | CHANGES TO THE BYLAWS ARE AT TIMES APPROVED BY THE MEMBERS EITHER AT THE ANNUAL MEETING OR SPECIAL MEETINGS HELD. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE CEO WORKS CLOSELY WITH THE AUDITORS IN PROVIDING THE NECESSARY FINANCIAL INFORMATION TO PREPARE A FINANCIAL AUDIT. THE TAX RETURN IS BASED UPON THE AUDITED FINANCIAL STATEMENTS. UPON COMPLETION OF THE 990 RETURN THE CEO WILL DO A THOROUGH REVIEW AND SIGN. |
| FORM 990, PART VI, SECTION B, LINE 15 | MIDLAND CREDIT UNION'S COMPENSATION PROGRAM CONSISTS OF THESE STEPS: 1) AN OUTSIDE SERVICE PROVIDES THE ORGANIZATION WITH SURVEY THAT IS USED AS A BENCHMARK FOR THEIR ENTIRE ORGANIZATION 2)COMPENSATION FOR CEO IS APPROVED BY THE BOARD 3)COMPENSATION FOR THE REST OF THE STAFF IS SET BY THE CEO WITHIN THE BOARD APPROVED BUDGET. THROUGH THE ENTIRE PROCESS THERE IS CONTEMPORANEOUS SUBSTANIATION OF THE DELIBERATION AND DECISION. |
| FORM 990, PART VI, SECTION C, LINE 19 | FINANCIAL STATEMENTS ARE POSTED IN THE LOBBIES. THE ORGANIZATION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST. |
| FORM 990, PART XII, LINE 2C, EXPLANATION: AUDIT COMMITTEE | MIDLAND CREDIT UNION HAS AN AUDIT COMMITTEE THAT OVERSEAS THE AUDIT PROCESS AND SELECTION OF ITS AUDITORS. THE AUDIT COMMITTEE WILL ALSO REVIEW THE ISSUED AUDITED FINANCIAL STATEMENTS WITH THE AUDITOR UPON COMPLETION. |