Amalgamated Credit Union
Nonprofit profile at a glance
- EIN
- 381516865
- IRS 990 coverage
- 2010–2013
- Forms available
- Form 990 2013
- Location
- Saginaw, MI, USA
- Phone
- 9897920026
- Rating confidence
- Limited
- Sector
- Credit Unions
Reported finances
- Revenue
- $1,490,427
- Expenses
- $1,834,660
- Assets
- $0
- Liabilities
- $0
Source: IRS Form 990. Selected filing: tax year 2013. Amounts in USD.
Leadership & pay
6 people listed
Executive titles in this filing
- JANE EDSON (INTERIM CEO)
Highest reported compensation
- JANE EDSON (INTERIM CEO): $116,600 total reported compensation
- CAROL PIJNAPPELS (EVO OF ACCOUNTING): $95,078 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2013. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To provide the best possible finanacial services to our members at competitive rates and to maintain the philosophy of members helping members. As a community chartered credit union, we support social and economic programs in the community.
What it reported doing in 2013
Offer atm/debit cards, check cashing, wire transfers, money orders, bilingual services, financial counseling and education, overdraft/courtesy pay services.
Operating model
- Revenue model
- Earned-program. 88% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
The verdict
- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.
Rating breakdown
- Financial Efficiency: NotEnoughData
- Transparency & Controls: 90
- Accountability: 91
- Sustainability: 6
- Growth: 0
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: Limited
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd 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; 64th percentile among comparable filings
- Governance controls: 7 of 9 controls in place; rating input score 78
- Conflict-of-interest policy: Pass
- 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: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: -23.1%; rating input score 6; 6th percentile among comparable filings
- Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
- Liabilities to assets ratio: Limited
- Officer compensation ratio: 11.5%; rating input score 29; 29th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: -15.3% per year; rating input score 0; 7th percentile among comparable filings
- Asset growth: -42% per year; rating input score 0; 2nd percentile among comparable filings
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 5 of 5 board members independent · 7 of 9 filing controls reported
- Programs: 4 filed program accomplishments · $1.8M in reported program spending
- Leadership: top reported pay $117K · 6 people listed
- Consistency: 8 of 8 current checks pass
- Schedules: 2 filed schedules
- Filing history: 4 filing years from 2010 to 2013
- Contacts: How to reach this organization
- Money network: 2 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: Revenue growth scored 0/100.
- High — Sustainability: Operating margin scored 6/100.
- High — Growth: Asset growth scored 0/100.
- High — Sustainability: Total-asset coverage ratio scored 0/100.
- Review — Accountability: Governance controls: Independent financial-statement audit not reported.
- High — Sustainability: Officer compensation ratio scored 29/100.