Educational Credit Union

Nonprofit profile at a glance

EIN
480641445
IRS 990 coverage
2010–2015
Forms available
Form 990 2015
Location
Topeka, KS, USA
Phone
7852716900
Rating confidence
Limited

Official website

Reported finances

Revenue
$10,231,866
Expenses
$8,412,448
Assets
$201,438,820
Liabilities
$182,736,842

Source: IRS Form 990. Selected filing: tax year 2015. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • GREG WINKLER (PRESIDENT/CEO)
  • LISA BROWN (EXECUTIVE VICE PRESIDENT)

Highest reported compensation

  • GREG WINKLER (PRESIDENT/CEO): $203,824 total reported compensation
  • LISA BROWN (EXECUTIVE VICE PRESIDENT): $127,875 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2015. 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 2015

Provides a source of credit to members at a fair and reasonable rate of interest. As of december 31, 2015, there were 12,178 loans outstanding totaling $146,651,425.

Operating model

Revenue model
Earned-program. 92% 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: 90
  • Accountability: 90
  • Sustainability: 77
  • Growth: 60

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; 62nd percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Missing
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 71st percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 69th percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 17.8%; rating input score 87; 87th percentile among comparable filings
  • Total-asset coverage ratio: 23.95; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0.91; rating input score 11; 11th percentile among comparable filings
  • Officer compensation ratio: 3.9%; rating input score 48; 48th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 5% per year; rating input score 100; 56th percentile among comparable filings
  • Asset growth: 7.4% per year; rating input score 100; 65th 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 · 6 of 8 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $204K · 9 people listed · 5 of 6 pay-setting controls reported
  • Consistency: 12 of 12 current checks pass
  • Schedules: 4 filed schedules · includes grants and executive pay
  • Filing history: 6 filing years from 2010 to 2015
  • 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.

Key Signals

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

  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Liabilities to assets ratio scored 11/100.
  • Moderate — Sustainability: Officer compensation ratio scored 48/100.