Brassies Credit Union

Nonprofit profile at a glance

EIN
630337435
IRS 990 coverage
2013–2019
Forms available
Form 990 2019
Location
Anniston, AL, USA
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Credit Unions

Reported finances

Revenue
$201,393
Expenses
$239,998
Assets
$3,682,008
Liabilities
$3,005,425

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

Leadership & pay

9 people listed

Highest reported compensation

  • Michelle L King (CEOBoard Secretary-Treasurer): $67,072 total reported compensation
  • Pamela G Smith (Office MgrLoan Officer): $45,380 total reported compensation

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

Overview

Mission

Credit Union - To provide services for approximately 511 members in the form of loans, checking and savings accounts, and other financial services.

What it reported doing in 2019

The credit union provided a variety of loan services for its members.

Operating model

Revenue model
Earned-program. 85% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 90
  • Accountability: 74
  • Sustainability: 36
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • 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; 63rd percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -19.2%; rating input score 15; 15th percentile among comparable filings
  • Total-asset coverage ratio: 15.34; rating input score 93; 93rd percentile among comparable filings
  • Liabilities to assets ratio: 0.82; rating input score 8; 8th percentile among comparable filings
  • Officer compensation ratio: 46.9%; rating input score 4; 4th percentile among comparable filings

Growth

  • Program expense growth: 39.6% per year; rating input score 100; 95th percentile among comparable filings
  • Revenue growth: -4.6% per year; rating input score 0; 17th percentile among comparable filings
  • Asset growth: -11% per year; rating input score 0; 8th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 5 of 5 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $240K in reported program spending
  • Leadership: top reported pay $67K · 9 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 7 filing years from 2013 to 2019
  • 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.

  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 15/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 4/100.
  • High — Sustainability: Liabilities to assets ratio scored 8/100.