C & O United Credit Union

Nonprofit profile at a glance

EIN
610925915
IRS 990 coverage
2010–2020
Forms available
Form 990 2020
Location
Florence, KY, USA
Phone
8593313447
Rating
46
Verdict
MIXED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$604,569
Expenses
$589,487
Assets
$19,325,920
Liabilities
$17,419,972

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

11 people listed

Executive titles in this filing

  • MIKE COOPER (CEO)

Highest reported compensation

  • MIKE COOPER (CEO): $51,243 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

C & o united credit union is a non-profit member owned financial institution. Our mission is to provide financial services at a reasonable cost.significant activities are making loans to, and holding deposit accounts for our members. We offer commonly requested services too.

What it reported doing in 2020

Significant activities are making loans to, and holding deposit accounts for our members. We offer commonly requested services to meet the needs of members.

Operating model

Revenue model
Other-operating. 68% 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: 90
  • Accountability: 79
  • Sustainability: 51
  • Growth: 20

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; 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: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: 2.5%; rating input score 33; 33rd percentile among comparable filings
  • Total-asset coverage ratio: 32.78; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0.9; rating input score 8; 8th percentile among comparable filings
  • Officer compensation ratio: 8.7%; rating input score 45; 45th percentile among comparable filings

Growth

  • Program expense growth: -66.7% per year; rating input score 0; 1st percentile among comparable filings
  • Revenue growth: -1% per year; rating input score 0; 19th percentile among comparable filings
  • Asset growth: 1.9% per year; rating input score 100; 29th 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 · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $51K · 11 people listed
  • Consistency: 11 of 12 current checks pass · 1 finding to review
  • Schedules: 2 filed schedules
  • Filing history: 11 filing years from 2010 to 2020
  • 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.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 33/100.
  • High — Sustainability: Liabilities to assets ratio scored 8/100.
  • Moderate — Sustainability: Officer compensation ratio scored 45/100.