Destinations Credit Union
Nonprofit profile at a glance
- EIN
- 520238203
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Baltimore, MD, USA
- Phone
- 4106632500
- Rating
- 49
- Verdict
- MIXED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $3,786,101
- Expenses
- $3,705,544
- Assets
- $63,532,666
- Liabilities
- $361,673
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
10 people listed
Executive titles in this filing
- BRIAN VITTEK (President & CEO)
Highest reported compensation
- BRIAN VITTEK (President & CEO): $205,927 total reported compensation
- WALTER SCIOLLI (CSO): $119,990 total reported compensation
- CHRISTINA KAILER (CFO): $101,942 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The credit union promotes thrift and provides a source of low-cost credit for individual members.
What it reported doing in 2024
Destinations credit union provides financial services to its 5,890 members.
Operating model
- Revenue model
- Earned-program. 82% of the money available for current operations came from fees and other program 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: 82
- Accountability: 91
- Sustainability: 60
- 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: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: 4 of 6 controls in place; rating input score 67
- Compensation committee: Pass
- Independent consultant: Pass
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Pass
- Board or committee approval: Pass
- 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: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Fail
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 2.1%; rating input score 42; 42nd percentile among comparable filings
- Total-asset coverage ratio: 17.15; rating input score 95; 95th percentile among comparable filings
- Liabilities to assets ratio: 0.01; rating input score 88; 88th percentile among comparable filings
- Officer compensation ratio: 14.3%; rating input score 20; 20th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 1.3% per year; rating input score 100; 17th percentile among comparable filings
- Asset growth: 1.7% per year; rating input score 100; 18th percentile among comparable filings
Details
- Where the money goes: 0% of revenue deployed · 0% of spending went to programs
- Governance: 6 of 6 board members independent · 7 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $3.7M in reported program spending
- Leadership: top reported pay $206K · 10 people listed · 4 of 6 pay-setting controls reported
- Highest-paid contractors: 2 contractors listed · $398K reported
- Consistency: 12 of 13 current checks pass · 1 finding to review
- Schedules: 4 filed schedules · includes executive pay
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 13 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.
- Review — Accountability: Governance controls: 2 of 9 not reported.
- Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
- Moderate — Sustainability: Operating margin scored 42/100.
- High — Sustainability: Officer compensation ratio scored 20/100.