Delta County Credit Union

Escanaba, MIUnknown exempt organizationEIN 38-1707412Revenue $2.6M in FY2020

On file with the IRSdeltacountycu.com2600 1st Ave S · Escanaba, MI

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To be the best financial institution our members ever experience.

Run by 6 volunteers and 46 employees.
Mission: Form 990 Part I, line 1 · People: Part I, lines 5–6

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2020
latest Form 990
Concern: the latest return is for FY2020, 6 tax years back; more than 4 tax years.
IRS e-file · Filing history
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$63K
to officers and key staff · 3% of spending
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
189 mo
of spending, in cash
Looks good: 188.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
total owed
No data yet: the filing does not give total assets.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.6M
Spent
$2.1M
To programs
0%
Net assets
$0

From the FY2020 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2020.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

6 people listed on the 990; $63K paid to officers and key staff.

Part VII, Section A · reportable compensation
President & CEO
$62,810Pt VII · Sec A
Chairperson
$0Pt VII · Sec A
Board Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Secretary
$0Pt VII · Sec A
See Delta County Credit Union executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Provides exceptional financial services to its members.

Questions for Delta County Credit Union

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Provided by the organization

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2 programs · in their own filed words · FY2020
01

The Credit Union provides several deposit account types to members including savings, checking, certificates and other. The total number of members at 05/15/2020 was 12,849.

Pt IX · col B
02

The Credit Union provides a variety of loans to members including real estate, credit card, vehicle and other. The total number of loans outstanding at 05/15/2020 was 5,542.

Pt IX · col B

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$2.6M
Ln 12
Fees for servicesLn 2g$2.3M
Investment incomeLn 3$269K
Money outPt IX
$2.1M
Ln 25
Owns and owesPt X
$0
net assets · Ln 32
Cash and savingsLn 1–2$32.9M
Total assetsLn 16$0
LiabilitiesLn 26$0
PeoplePt VI, VII
6
listed · VII A
PaidVII A1
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$2.3M
Investment incomeLn 3$269K
Gains on assetsLn 7−$2K
Total revenueLn 12$2.6M
Assets in detailPt X, end of year
CashLn 1$1.7M
SavingsLn 2$31.2M
Cash and savings togetherLn 1–2$32.9M
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$2.0M
Other assetsLn 15−$118.4M
Total assetsLn 16$0
LiabilitiesLn 26$0
Net assetsLn 32$0
OperationsPt I, VI
EmployeesI 546
VolunteersI 66
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$14.3M$32.9M
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$1.6M$2.0M
Total assetsLn 16$136.9M$0
LiabilitiesLn 26$119.1M$0
Net assetsLn 32$17.8M$0
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$63K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$542K
Pension plan contributionsLn 8$39K
Other employee benefitsLn 9$47K
Payroll taxesLn 10$61K
Management feesLn 11a$0
Legal feesLn 11b$0
Accounting feesLn 11c$7K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$109K
Advertising and promotionLn 12$93K
Office expensesLn 13$98K
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$64K
TravelLn 17$12K
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$11K
InterestLn 20$333K
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$51K
InsuranceLn 23$0
Other expenses (24a–d)Ln 24$545K
All other expensesLn 24e$17K
Total functional expensesLn 25$2.1M$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2020 Latest Viewing $2.6M$2.1M$506K$0 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2020 990 (6 parts)
Part I · Summary $2,598,708 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $6,698,545$2,329,792
I-10 Investment incomePrior year $978,256$268,916
I-11 Other revenuePrior year $237,369$0
I-12 Total revenuePrior year $7,914,170$2,598,708
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $2,128,781$751,289
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $3,903,646$1,341,072
I-18 Total expensesPrior year $6,032,427$2,092,361
I-19 Revenue less expensesPrior year $1,881,743$506,347
Part VI · Governance 5 of 5 board members independent, 3 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $2,598,708 across 8 lines filed
VIII-1h Total contributions, gifts and grants$0
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,329,792$2,329,792
VIII-3 Investment incomeRelated to mission $271,016$271,016
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assetsRelated to mission −$2,100−$2,100
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $2,598,708$2,598,708
Part IX · Statement of functional expenses $2,092,361 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$62,810
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$541,731
IX-8 Pension plan contributions$38,862
IX-9 Other employee benefits$47,262
IX-10 Payroll taxes$60,624
IX-11a Management fees$0
IX-11b Legal fees$0
IX-11c Accounting fees$7,241
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for services$109,183
IX-12 Advertising and promotion$93,209
IX-13 Office expenses$98,299
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 Occupancy$63,550
IX-17 Travel$12,113
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$11,108
IX-20 Interest$333,282
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$51,225
IX-23 Insurance$0
IX-24 Other expenses (24a–d)$544,503
IX-24e All other expenses$17,359
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$2,092,361
Part X · Balance sheet $0 assets, 18 lines filed
Asset lines not itemized here account for $82,129,321; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $11,980,807$1,747,435
X-2 Savings and temporary cash investmentsStart of year $2,335,344$31,193,840
X-3 Pledges and grants receivable$0
X-4 Accounts receivableStart of year $1,575$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred chargesStart of year $536,498$1,328,208
X-10c Land, buildings and equipment, netStart of year $1,593,502$1,969,945
X-11 Publicly traded securities$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assetsStart of year $35,398,331−$118,368,749
X-16 Total assetsStart of year $136,940,416$0
X-17 Accounts payable and accrued expensesStart of year $706,896$876,446
X-25 Other liabilitiesStart of year $118,391,870−$876,446
X-26 Total liabilitiesStart of year $119,098,766$0
X-32 Total net assets or fund balancesStart of year $17,841,650$0
X-33 Total liabilities and net assetsStart of year $136,940,416$0
Part XI · Reconciliation of net assets $0 net assets at year end
XI-1 Total revenue$2,598,708
XI-2 Total expenses$2,092,361
XI-3 Revenue less expenses$506,347
XI-4 Net assets at start of year$17,841,650
XI-5 Net unrealized gains (losses) on investments$397,915
XI-9 Other changes in net assets−$18,745,912
XI-10 Net assets at end of year$0

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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