Edison Credit Union

Nonprofit profile at a glance

EIN
440663838
IRS 990 coverage
2010–2023
Forms available
Form 990 2023
Location
Kansas City, MO, USA
Phone
8162313380
Rating confidence
Limited
Sector
Credit Unions

Official website

Reported finances

Revenue
$770,510
Expenses
$1,176,370
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • SALVATORE NUCCIO (PRESIDENT)
  • GARY BOULWARE (VICE PRESIDENT, LENDING)

Highest reported compensation

  • SALVATORE NUCCIO (PRESIDENT): $455,558 total reported compensation
  • GARY BOULWARE (VICE PRESIDENT, LENDING): $166,101 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide high quality financial services for our members/owners, enhancing their financial well-being while maintaining the financial strength of the credit union.

What it reported doing in 2023

Provides a source of credit to members at a fair and reasonable rate of interest. As of june 30, 2024, there were 719 loans outstanding totaling $18,923,349.

Operating model

Revenue model
Earned-program. 83% 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

- 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: 66
  • Accountability: 69
  • Sustainability: 2
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • 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: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -52.7%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 52.8%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -1.1% per year; rating input score 0; 13th percentile among comparable filings
  • Asset growth: -0.9% per year; rating input score 0; 15th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 7 of 7 board members independent · 2 of 8 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $456K · 9 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 8 of 8 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 14 filing years from 2010 to 2023
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Governance controls: 5 of 7 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 3/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 2/100.