Credit Unions in the State of Washington

Nonprofit profile at a glance

EIN
910403815
IRS 990 coverage
2010–2018
Forms available
Form 990 2018
Location
Seattle, WA, USA
Phone
2066284010
Rating
46
Verdict
MIXED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$53,981,403
Expenses
$43,668,022
Assets
$1,324,555,734
Liabilities
$1,187,802,857

Source: IRS Form 990. Selected filing: tax year 2018. Amounts in USD.

Leadership & pay

25 people listed

Executive titles in this filing

  • Scott Adkins (President)
  • Douglas Grout (Vice President)
  • Aproniano Labonite (Vice President)
  • Patsy Gayda (Vice President)
  • Page Cook (Vice President)
  • Brant Spangler (Vice President)

Highest reported compensation

  • Scott Adkins (President): $683,736 total reported compensation
  • Alex Mendes (CFO): $276,198 total reported compensation
  • Douglas Grout (Vice President): $258,367 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2018. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Credit Union

Operating model

Revenue model
Other-operating. 93% 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 - Most voting board members are independent and the filed numbers largely add up. 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: 63
  • Accountability: 100
  • Sustainability: 73
  • Growth: 60

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: 91.7%; rating input score 92; 7th 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: 89.9%; rating input score 90; 24th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 81st percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 19.1%; rating input score 90; 90th percentile among comparable filings
  • Total-asset coverage ratio: 30.33; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0.9; rating input score 11; 11th percentile among comparable filings
  • Officer compensation ratio: 8%; rating input score 5; 5th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 7.5% per year; rating input score 100; 70th percentile among comparable filings
  • Asset growth: 6.4% per year; rating input score 100; 58th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 8 of 8 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $684K · 25 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $6.7M reported
  • Consistency: 13 of 15 current checks pass · 2 findings to review
  • Schedules: 5 filed schedules · includes grants and executive pay
  • Filing history: 8 filing years from 2010 to 2018
  • Contacts: How to reach this organization
  • Money network: 75 filed money-flow records
  • Related organizations: 29 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 — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 5/100.
  • High — Sustainability: Liabilities to assets ratio scored 11/100.