Co-op Toledo Credit Union Inc

Nonprofit profile at a glance

EIN
344428192
IRS 990 coverage
2017–2018
Forms available
Form 990 2018
Location
Maumee, OH, USA
Phone
4198653600
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Credit Unions

Official website

Reported finances

Revenue
$398,887
Expenses
$382,906
Assets
$0
Liabilities
$0

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

Leadership & pay

7 people listed

Executive titles in this filing

  • Thomas Archambeau (President of Board)
  • Jennifer Segura (Treasurer of Board / Chief Executive Officer)

Highest reported compensation

  • Jennifer Segura (Treasurer of Board / Chief Executive Officer): $55,510 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 provide lending, savings, and other financial services to its qualifying members at terms generally better than available in the marketplace with a service based emphasis that recognizes the members status as owners.

What it reported doing in 2018

The organization was a state chartered member owned cooperative credit union that provides financial services and products to the member owners.

Operating model

Revenue model
Other-operating. 87% of the money available for current operations came from other operating 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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Program spending has declined or grown slowly and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 79
  • Transparency & Controls: 90
  • Accountability: 81
  • Sustainability: 28
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 87.8%; rating input score 88
  • Program expense ratio: 89.6%; rating input score 90
  • 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: 85.7%; rating input score 86; 21st 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: 4%; rating input score 52; 52nd percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 14.5%; rating input score 27; 27th percentile among comparable filings

Growth

  • Program expense growth: -78.3% per year; rating input score 0; 1st percentile among comparable filings
  • Revenue growth: -48.3% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: -200% per year; rating input score 0; 0th percentile among comparable filings

Details

  • Where the money goes: 87.8% of revenue deployed · 89.6% of spending went to programs
  • Governance: 6 of 7 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $343K in reported program spending
  • Leadership: top reported pay $56K · 7 people listed
  • Consistency: 38 of 38 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 2 filing years from 2017 to 2018
  • 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.

  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • Review — Sustainability: Operating margin scored 52/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 27/100.