Credit Unions Chartered in the State of Michigan
Nonprofit profile at a glance
- EIN
- 381229183
- IRS 990 coverage
- 2010–2015
- Forms available
- Form 990 2015
- Location
- Flint, MI, USA
- Phone
- 8102397655
- Rating
- 49
- Verdict
- MIXED
- Rating confidence
- Moderate
- Sector
- Public, Societal Benefit
Reported finances
- Revenue
- $1,696,380
- Expenses
- $1,707,575
- Assets
- $32,230,765
- Liabilities
- $27,480,559
Source: IRS Form 990. Selected filing: tax year 2015. Amounts in USD.
Leadership & pay
9 people listed
Executive titles in this filing
- Kimberly Blair (CEO & General Manager)
Highest reported compensation
- Kimberly Blair (CEO & General Manager): $118,176 total reported compensation
- Cathy Allard-Climie (Accounting Supervisor): $95,181 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2015. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Dedicated to providing and improving the financial stability of our members through personalized service in a competitive financial environment.
What it reported doing in 2015
Offer automated teller machines, debit cards, check cashing, wire transfers, money orders, bill payment, overdraft protection/courtesy pay and various insurance programs.
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
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: 91
- Sustainability: 49
- 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: 7 of 9 controls in place; rating input score 78
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- 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: -0.7%; rating input score 34; 34th percentile among comparable filings
- Total-asset coverage ratio: 18.88; rating input score 96; 96th percentile among comparable filings
- Liabilities to assets ratio: 0.85; rating input score 11; 11th percentile among comparable filings
- Officer compensation ratio: 12.5%; rating input score 27; 27th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: -6.9% per year; rating input score 0; 11th percentile among comparable filings
- Asset growth: 1.3% per year; rating input score 100; 39th 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 · 7 of 9 filing controls reported
- Programs: 3 filed program accomplishments
- Leadership: top reported pay $118K · 9 people listed
- Consistency: 12 of 13 current checks pass · 1 finding to review
- Schedules: 2 filed schedules
- Filing history: 6 filing years from 2010 to 2015
- 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 — Financial Efficiency: Mission deployment rate scored 0/100.
- High — Financial Efficiency: Program expense ratio scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
- Review — Accountability: Governance controls: 2 of 9 not reported.
- Moderate — Sustainability: Operating margin scored 34/100.
- High — Sustainability: Liabilities to assets ratio scored 11/100.
- High — Sustainability: Officer compensation ratio scored 27/100.