Anoka Hennepin Credit Union

Nonprofit profile at a glance

EIN
416036540
IRS 990 coverage
2010–2023
Forms available
Form 990 2023
Location
Coon Rapids, MN, USA
Phone
7634220290
Rating confidence
Limited

Official website

Reported finances

Revenue
$8,130,766
Expenses
$8,067,157
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

13 people listed

Executive titles in this filing

  • JEFFREY CLAUSSEN (PRESIDENT & CEO)

Highest reported compensation

  • JEFFREY CLAUSSEN (PRESIDENT & CEO): $318,391 total reported compensation
  • THERESA TOSTENGARD (SVP - GENERAL COUNSEL): $184,711 total reported compensation
  • MARTIN WALIGORA (VP OF FINANCE & CFO): $170,268 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Members helping members in a community-based, not-for-profit organization, with the goal of becoming our members' primary financial institution; protecting members' assets and providing personal, convenient, and competitive services.

What it reported doing in 2023

Other program services -anoka hennepin credit union also provided other services to its members like bill payment, debit cards, e-statements, online banking, mobile banking, mobile check deposit, telephone banking, insurance products, and safe deposit boxes.

Operating model

Revenue model
Other-operating. 88% 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

- 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: 77
  • Accountability: 91
  • Sustainability: 20
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 5th 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: 100%; rating input score 100; 72nd percentile among comparable filings
  • 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: 0.8%; rating input score 38; 38th 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: 13.5%; rating input score 20; 20th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 1.2% per year; rating input score 100; 18th percentile among comparable filings
  • Asset growth: 2.9% per year; rating input score 100; 25th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 7 of 7 board members independent · 7 of 9 filing controls reported
  • Programs: 4 filed program accomplishments
  • Leadership: top reported pay $318K · 13 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $145K reported
  • Consistency: 9 of 10 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes grants and executive pay
  • Filing history: 14 filing years from 2010 to 2023
  • Contacts: How to reach this organization
  • Money network: 15 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • 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 — Sustainability: Total-asset coverage ratio scored 0/100.
  • Moderate — Sustainability: Operating margin scored 38/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Officer compensation ratio scored 20/100.