Light Commerce Credit Union

Overview

Mission

Provide highest level of customer service. Emphasis on being responsive to member needs. Encourage better quality of life for our members producing a better quality cu through member education and competitive products.

What it reported doing in 2024

No significant accomplishments during current tax year.

Operating model

Revenue model
Earned-program. 88% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 90% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

Nonprofit profile at a glance

EIN
030505731
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Headquarters
Houston, TX, USA
Phone
2818767576
Rating
80
Verdict
STRONG
Rating confidence
Moderate

Official website

The verdict

STRONG - The filed numbers largely add up and a large share of total spending goes to programs. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 64
  • Transparency & Controls: 100
  • Accountability: 76
  • Sustainability: 78
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 55.1%; rating input score 55
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 37.3%; rating input score 86; 86th percentile among comparable filings
  • Total-asset coverage ratio: 24.97; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0.78; rating input score 7; 7th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 44.8% per year; rating input score 100; 95th percentile among comparable filings
  • Revenue growth: 1.3% per year; rating input score 100; 30th percentile among comparable filings
  • Asset growth: 5.4% per year; rating input score 100; 49th percentile among comparable filings

Details

  • Where the money goes: 55.1% of revenue deployed · 100% of spending went to programs
  • Governance: 5 of 5 board members independent · 3 of 7 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 15 annual filings from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Leadership & pay

5 people listed

Source: IRS Form 990. Selected filing: FY2024.