Bear Paw Credit Union

Nonprofit profile at a glance

EIN
810264486
IRS 990 coverage
2010–2022
Forms available
Form 990 2022
Location
Havre, MT, USA
Phone
4062659626
Rating confidence
Limited
Sector
Credit Unions

Official website

Reported finances

Revenue
$5,276,975
Expenses
$4,870,945
Assets
$144,965,959
Liabilities
$1,100,778

Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • ALBERT J VUKASIN JR (PRESIDENT/CEO)
  • GERRY VEIS (EXECUTIVE VICE PRESIDENT)
  • ROGER STONE (VICE PRESIDENT ITS)

Highest reported compensation

  • ALBERT J VUKASIN JR (PRESIDENT/CEO): $255,207 total reported compensation
  • GERRY VEIS (EXECUTIVE VICE PRESIDENT): $214,074 total reported compensation
  • ROGER STONE (VICE PRESIDENT ITS): $161,077 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Our credit union is a not-for-profit member owned financial organization. Our goals are to provide the best possible financial services to our members at competitive rates and to promote thrift and sound financial management.

What it reported doing in 2022

Primary financial services include member savings and lending. Additional services provided included counseling, financial education, newsletters, deposit and loan insurance protection, and consumer education.

Operating model

Revenue model
Earned-program. 100% 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: 77
  • Accountability: 90
  • Sustainability: 68
  • Growth: 20

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: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • 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: 7.7%; rating input score 57; 57th percentile among comparable filings
  • Total-asset coverage ratio: 29.76; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 88; 88th percentile among comparable filings
  • Officer compensation ratio: 12.9%; rating input score 20; 20th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -2.8% per year; rating input score 0; 7th percentile among comparable filings
  • Asset growth: 4.5% per year; rating input score 100; 34th 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 · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $255K · 10 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $216K reported
  • Consistency: 10 of 10 current checks pass
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 13 filing years from 2010 to 2022
  • Contacts: How to reach this organization
  • Money network: 3 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.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Review — Sustainability: Operating margin scored 57/100.
  • High — Sustainability: Officer compensation ratio scored 20/100.