Credit Unions Chartered in the State of Michigan 665 Family Community Credit Union

Nonprofit profile at a glance

EIN
381588077
IRS 990 coverage
2010–2014
Forms available
Form 990 2014
Location
Burton, MI, USA
Phone
8107676300
Rating
49
Verdict
MIXED
Rating confidence
Moderate
Sector
Public, Societal Benefit

Official website

Reported finances

Revenue
$1,204,405
Expenses
$1,545,222
Assets
$38,709,265
Liabilities
$35,019,086

Source: IRS Form 990. Selected filing: tax year 2014. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • Gayle A Dolgan (President/CEO)

Highest reported compensation

  • Gayle A Dolgan (President/CEO): $105,213 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2014. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Dedicated to the financial well being of its members by providing high-quality competitive financial services in a safe personal manner.

What it reported doing in 2014

Provide 1,896 loans including Vehicle, Home Equity, Recreational Vehicle, Signature, Pledged Shares, Line of Credit, Boat, Student, Credit Card and Mortgages.

Operating model

Revenue model
Other-operating. 81% 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: 95
  • Sustainability: 38
  • 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; 64th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -28.3%; rating input score 5; 5th percentile among comparable filings
  • Total-asset coverage ratio: 25.05; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 0.9; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 6.8%; rating input score 49; 49th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -7.8% per year; rating input score 0; 11th percentile among comparable filings
  • Asset growth: 2.6% per year; rating input score 100; 45th 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 8 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $105K · 8 people listed
  • Consistency: 12 of 13 current checks pass · 1 finding to review
  • Schedules: 2 filed schedules
  • Filing history: 5 filing years from 2010 to 2014
  • 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.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • High — Sustainability: Operating margin scored 5/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.
  • Moderate — Sustainability: Officer compensation ratio scored 49/100.