Credit Union Chartered in the St of Mi

Nonprofit profile at a glance

EIN
381338132
IRS 990 coverage
2011–2017
Forms available
Form 990 2017
Location
Kalamazoo, MI, USA
Phone
2693448525
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Credit Unions

Reported finances

Revenue
$304,501
Expenses
$344,434
Assets
$8,587,443
Liabilities
$87,988

Source: IRS Form 990. Selected filing: tax year 2017. Amounts in USD.

Leadership & pay

6 people listed

Highest reported compensation

  • Deborah Adams (Manager): $68,278 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2017. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Tfcu is a member-run financial institution whose goal is to provide an array of services and assist our members in achieving financial security.

What it reported doing in 2017

Share draft and courtesy pay program provided members with share draft account and overdraft protection

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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: 78
  • Transparency & Controls: 90
  • Accountability: 84
  • Sustainability: 46
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 92.8%; rating input score 93
  • Program expense ratio: 79.1%; rating input score 79
  • 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: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: -13.1%; rating input score 18; 18th percentile among comparable filings
  • Total-asset coverage ratio: 24.93; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 55; 55th percentile among comparable filings
  • Officer compensation ratio: 19.8%; rating input score 20; 20th percentile among comparable filings

Growth

  • Program expense growth: 5.5% per year; rating input score 100; 62nd percentile among comparable filings
  • Revenue growth: -1.9% per year; rating input score 0; 25th percentile among comparable filings
  • Asset growth: 3.6% per year; rating input score 100; 50th percentile among comparable filings

Details

  • Where the money goes: 92.8% of revenue deployed · 79.1% of spending went to programs
  • Governance: 5 of 5 board members independent · 5 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $96K in reported program spending
  • Leadership: top reported pay $68K · 6 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 5 filing years from 2011 to 2017
  • Contacts: How to reach this organization
  • Money network: 7 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.

  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 18/100.
  • High — Sustainability: Officer compensation ratio scored 20/100.
  • Review — Sustainability: Liabilities to assets ratio scored 55/100.