All-steel Credit Union

Nonprofit profile at a glance

EIN
360719694
IRS 990 coverage
2010–2018
Forms available
Form 990 2018, Form 990-EZ 2016
Location
Oswego, IL, USA
Phone
6309062050
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Credit Unions

Reported finances

Revenue
$831,858
Expenses
$820,629
Assets
$20,347,554
Liabilities
$16,711,851

Source: IRS Form 990. Selected filing: tax year 2018. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • Robin Lamb (President)

Highest reported compensation

  • Robin Lamb (President): $78,208 total reported compensation
  • David Dolder (Loan Officer): $62,418 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2018. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The Credit Union is a member-owned financial institution dedicated to:1. Serving the changing financial needs of the members.2. Offering quality service and products to our current and potential members.3. Helping our members grow economically strong.4. Supporting the credit union philosophy of people helping people.

What it reported doing in 2018

Loans (real estate, credit card, vehicle and other) are granted to members. The number of loans outstanding at 12/31/2017 was 900 . Various types of deposit/share accounts are provided to members. The number of deposit/share accounts at 12/31/2017 was 2,487.

Operating model

Revenue model
Earned-program. 73% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 88% 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.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Program spending has declined or grown slowly and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 90
  • Accountability: 76
  • Sustainability: 52
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 97.7%; rating input score 98
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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: 66.7%; rating input score 67; 12th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 1.3%; rating input score 42; 42nd percentile among comparable filings
  • Total-asset coverage ratio: 24.8; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0.82; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 17.1%; rating input score 17; 17th percentile among comparable filings

Growth

  • Program expense growth: -10.4% per year; rating input score 0; 7th percentile among comparable filings
  • Revenue growth: -2.1% per year; rating input score 0; 15th percentile among comparable filings
  • Asset growth: 1.8% per year; rating input score 100; 37th percentile among comparable filings

Details

  • Where the money goes: 97.7% of revenue deployed · 100% of spending went to programs
  • Governance: 6 of 9 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $78K · 9 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 9 filing years from 2010 to 2018
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • 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.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 42/100.
  • Review — Accountability: Governance controls: Conflict-of-interest policy not reported.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.
  • High — Sustainability: Officer compensation ratio scored 17/100.