Andigo Credit Union

Nonprofit profile at a glance

EIN
361508191
IRS 990 coverage
2014–2019
Forms available
Form 990 2019
Location
Schaumburg, IL, USA
Phone
8475765199
Rating
38
Verdict
REVIEW
Rating confidence
Moderate
Sector
Credit Unions

Official website

Reported finances

Revenue
$43,497,190
Expenses
$37,616,202
Assets
$850,101,906
Liabilities
$746,040,512

Source: IRS Form 990. Selected filing: tax year 2019. Amounts in USD.

Leadership & pay

20 people listed

Executive titles in this filing

  • Michael Murphy (Chief Executive Officer)
  • Matthew Hancock (Vice President - Business Services)
  • Christine Stotland (Vice President - Member Experience)
  • Robert Wilberg (Vice President - Controller)
  • Eric Kapusinski (Vice President - Information Technology)

Highest reported compensation

  • Michael Murphy (Chief Executive Officer): $625,716 total reported compensation
  • Larry Rosin (Chief Financial Officer): $366,260 total reported compensation
  • Jean Theis (Chief Operating Officer): $357,355 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2019. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The organization is a full service, state-chartered credit union providing a broad range of loan and deposit products and other financial services to its members located throughout the US using various channels including branches, a call center, and the internet.

What it reported doing in 2019

Extension of credit to members is the primary function of the Credit Union.

Operating model

Revenue model
Other-operating. 83% of the money available for current operations came from other operating 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

REVIEW - The filed numbers largely add up and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 71
  • Accountability: 58
  • Sustainability: 70
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 75%; rating input score 75; 14th percentile among comparable filings
  • Governance controls: 3 of 9 controls in place; rating input score 33
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 13.5%; rating input score 79; 79th percentile among comparable filings
  • Total-asset coverage ratio: 22.6; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 0.88; rating input score 13; 13th percentile among comparable filings
  • Officer compensation ratio: 8.8%; rating input score 21; 21st percentile among comparable filings

Growth

  • Program expense growth: -46.5% per year; rating input score 0; 0th percentile among comparable filings
  • Revenue growth: 6.9% per year; rating input score 100; 66th percentile among comparable filings
  • Asset growth: -0.6% per year; rating input score 0; 14th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 6 of 8 board members independent · 3 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $626K · 20 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 11 of 12 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 5 filing years from 2014 to 2019
  • Contacts: How to reach this organization
  • Money network: 15 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 — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • Moderate — Accountability: Governance controls: 6 of 9 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 13/100.
  • High — Sustainability: Officer compensation ratio scored 21/100.