Cornerstone Credit Union Foundation

Nonprofit profile at a glance

EIN
756039968
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Plano, TX, USA
Phone
4693856400
Rating
71
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Scholarships, Student Financial Aid Services, Awards

Official website

Reported finances

Revenue
$1,748,478
Expenses
$1,930,576
Assets
$2,739,365
Liabilities
$173,086

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

25 people listed

Executive titles in this filing

  • Caroline Willard (President/CEO CCUL)
  • Courtney Moran (Executive Director - FND)

Highest reported compensation

  • Caroline Willard (President/CEO CCUL): $725,632 total reported compensation
  • Shoaib Salamat (SVP/CFO CCUL): $221,784 total reported compensation
  • Courtney Moran (Executive Director - FND): $184,137 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Empowering credit unions to impact their communities. The foundation is dedicated to helping credit unions make a difference in the lives of the members and communities they serve.

What it reported doing in 2024

Provide educational grants for financial wellness initiatives and continued training and educational classes for benefit of member credit unions in the states of Texas, Arkansas, Oklahoma, Kansas, and Missouri. Training and events included cufinhealth conference and financial counseling certification program to benefit the public.

Operating model

Revenue model
Donor-supported. 63% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 85% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and most voting board members are independent. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 55
  • Accountability: 95
  • Sustainability: 35
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 83.3%; rating input score 83
  • Program expense ratio: 73.9%; rating input score 74
  • Fundraising efficiency: $5.96 raised per $1 spent on fundraising; rating input score 22; 22nd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 88.2%; rating input score 88; 3rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 43.5%; rating input score 43; 28th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: No; rating input score 0

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -10.4%; rating input score 16; 16th percentile among comparable filings
  • Total-asset coverage ratio: 1.42; rating input score 54; 54th percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 49; 49th percentile among comparable filings
  • Officer compensation ratio: 6.2%; rating input score 49; 49th percentile among comparable filings

Growth

  • Program expense growth: 9.8% per year; rating input score 100; 62nd percentile among comparable filings
  • Revenue growth: 7% per year; rating input score 100; 54th percentile among comparable filings
  • Asset growth: 2.3% per year; rating input score 100; 27th percentile among comparable filings

Details

  • Where the money goes: 83.3% of revenue deployed · 73.9% of spending went to programs
  • Governance: 17 of 17 board members independent · 8 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $1.4M in reported program spending
  • Leadership: top reported pay $726K · 25 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 26 of 28 current checks pass · 2 findings to review
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 9 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: 7 filed related-organization links
  • 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Financial Efficiency: Fundraising efficiency scored 22/100.
  • Moderate — Transparency & Controls: Grant itemization coverage scored 43/100.
  • High — Sustainability: Operating margin scored 16/100.
  • High — Transparency & Controls: Related-party transparency scored 0/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • Review — Sustainability: Total-asset coverage ratio scored 54/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 49/100.
  • Moderate — Sustainability: Officer compensation ratio scored 49/100.