Bridgewater Credit Union

Nonprofit profile at a glance

EIN
042030899
IRS 990 coverage
2010–2018
Forms available
Form 990 2018, Form 990-N 2007
Location
Bridgewater, MA, USA
Phone
5086978101
Rating confidence
Limited
Sector
Credit Unions

Official website

Reported finances

Revenue
$14,346,550
Expenses
$13,961,575
Assets
$378,936,415
Liabilities
$343,963,460

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

Leadership & pay

15 people listed

Executive titles in this filing

  • JOHN HOWARD (PRESIDENT/CEO)

Highest reported compensation

  • JOHN HOWARD (PRESIDENT/CEO): $272,993 total reported compensation
  • BRAD EGAN (SVP/CHIEF LENDING OFFICER): $207,253 total reported compensation
  • MICHAEL VALLEY (SVP/CFO & TREASURER): $193,344 total reported compensation

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

Overview

Mission

To serve our community and partner with our members to offer value-added financial products, services, solutions, and no-compromise member service.

What it reported doing in 2018

State chartered community credit union serving approximately 32,000 members offering a wide variety of loan and deposit products.

Operating model

Revenue model
Other-operating. 87% 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: 94
  • Sustainability: 56
  • 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; 62nd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • 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: 88.9%; rating input score 89; 22nd percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 2.7%; rating input score 50; 50th percentile among comparable filings
  • Total-asset coverage ratio: 27.14; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0.91; rating input score 11; 11th percentile among comparable filings
  • Officer compensation ratio: 8.6%; rating input score 21; 21st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -2.8% per year; rating input score 0; 6th percentile among comparable filings
  • Asset growth: 2% per year; rating input score 100; 30th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 8 of 9 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $273K · 15 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 13 of 13 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 9 filing years from 2010 to 2018
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Growth: Revenue growth scored 0/100.
  • Review — Sustainability: Operating margin scored 50/100.
  • High — Sustainability: Liabilities to assets ratio scored 11/100.
  • High — Sustainability: Officer compensation ratio scored 21/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.