Aurora Credit Union

Nonprofit profile at a glance

EIN
390930190
IRS 990 coverage
2010–2018
Forms available
Form 990 2018
Location
Milwaukee, WI, USA
Rating
45
Verdict
MIXED
Rating confidence
Moderate
Sector
Credit Unions

Official website

Reported finances

Revenue
$2,921,454
Expenses
$2,566,886
Assets
$0
Liabilities
$0

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

Leadership & pay

10 people listed

Executive titles in this filing

  • Mary Gold (President)

Highest reported compensation

  • Mary Gold (President): $224,086 total reported compensation

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

Overview

Mission

State Chartered Credit Union - Please see Schedule O Statement 8 for detailed Mission Statement/Exempt Purpose

What it reported doing in 2018

We provide low-cost, high value financial products to members including Regular Checking with no minimum balance, no monthly service charge and unlimited checking writing privileges. Aurora Credit Union also offers tiered balance checking with competitive dividend rates. The Credit Union offers low-cost ATM access with free ATM deposits and free signature VISA CheckCard transactions. ATM and debit pinned POS transactions are only $.25 each. A principal objective is increasing the financial and educational resources available to members to enable them to make informed financial decisions. We reach out to the membership through multiple delivery channels: personal one-to-one consultation, electronic services including interactive web-based third party products for purchasing autos and homes, teaching children about money and retirement planning. All members receive free identity theft recovery services at no charge.

Operating model

Revenue model
Other-operating. 98% 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

MIXED - The filed numbers largely add up and most voting board members are independent. 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: 76
  • Accountability: 90
  • Sustainability: 38
  • 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: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 12.1%; rating input score 73; 73rd 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: 8.7%; rating input score 29; 29th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 4% per year; rating input score 100; 46th percentile among comparable filings
  • Asset growth: -3.4% per year; rating input score 0; 12th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 7 of 7 board members independent · 6 of 8 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $224K · 10 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 7 of 8 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 9 filing years from 2010 to 2018
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • 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.