Sovita Credit Union
Legal name: Credit Unions Chartered in the State of Michigan Sovita Credit Union
Nonprofit profile at a glance
- EIN
- 380546210
- IRS 990 coverage
- 2010–2025
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2025
- Location
- Flint, MI, United States
- Phone
- 8107208300
- Rating confidence
- Limited
Reported finances
- Revenue
- $24,546,876
- Expenses
- $18,934,081
- Assets
- $575,856,918
- Liabilities
- $488,246,913
Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.
Leadership & pay
13 people listed
Executive titles in this filing
- PATRICK WHITE (CEO)
- PATRICIA R GOOCH (BOARD PRESIDENT)
- SAM PARASCHOS (BOARD VICE PRESIDENT)
- DANIEL FONDREN (VICE PRESIDENT OF FINANCE)
- JILL KRUYER (VICE PRESIDENT OF MEM SERV)
- MICHAEL FURST (VICE PRESIDENT OF LENDING)
Highest reported compensation
- PATRICK WHITE (CEO): $379,290 total reported compensation
- JILL KRUYER (VICE PRESIDENT OF MEM SERV): $275,192 total reported compensation
- DANIEL FONDREN (VICE PRESIDENT OF FINANCE): $263,850 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Here for those who care. From lower interest rates to fewer fees, we put members first. We get the opportunity to always go above and beyond to serve our members and each other We work together to achieve the vision and mission of Sovita, while continuously striving to uplift families We give our time, talent, and resources to support education and healthcare organizations because they give so much to our community. We work together to achieve the vision and mission of Sovita, while continuously striving to uplift families We give our time, talent, and resources to support education and healthcare organizations because they give so much to our community What You Can Expect from Us.
What it reported doing in 2025
Share drafts and money market accounts - $250,083,587
Operating model
- Revenue model
- Mixed. Its operating money came from several sources; no one source provided a clear majority.
- 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
- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.
Rating breakdown
- Financial Efficiency: NotEnoughData
- Transparency & Controls: 70
- Accountability: 87
- Sustainability: 72
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: Limited
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 90.9%; rating input score 91; 7th percentile among comparable filings
- Pay-setting controls: 4 of 6 controls in place; rating input score 67
- Compensation committee: Pass
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Pass
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 43.1%; rating input score 43; 15th percentile among comparable filings
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 85.7%; rating input score 86; 16th 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: 22.9%; rating input score 79; 79th percentile among comparable filings
- Total-asset coverage ratio: 30.41; rating input score 98; 98th percentile among comparable filings
- Liabilities to assets ratio: 0.85; rating input score 10; 10th percentile among comparable filings
- Officer compensation ratio: 7.6%; rating input score 38; 38th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 5.9% per year; rating input score 100; 49th percentile among comparable filings
- Asset growth: 4% per year; rating input score 100; 26th percentile among comparable filings
Details
- What they do: 1 operating location identified
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 6 of 7 board members independent · 8 of 9 filing controls reported
- Programs: 3 filed program accomplishments
- Leadership: top reported pay $379K · 13 people listed · 4 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $1.6M reported
- Consistency: 12 of 13 current checks pass · 1 finding to review
- Schedules: 4 filed schedules · includes grants and executive pay
- Filing history: 15 filing years from 2010 to 2025
- Contacts: How to reach this organization
- Money network: 11 filed money-flow records
- Related organizations: 4 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.
- Moderate — Transparency & Controls: Grant itemization coverage scored 43/100.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
- 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 38/100.