Employees Credit Union

Nonprofit profile at a glance

EIN
626042135
IRS 990 coverage
2010–2015
Forms available
Form 990 2015
Location
Nashville, TN, USA
Phone
6153677283
Rating
89
Verdict
STRONG
Rating confidence
Moderate
Sector
Credit Unions

Reported finances

Revenue
$1,092,737
Expenses
$1,057,199
Assets
$30,271,038
Liabilities
$24,816,098

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

Leadership & pay

9 people listed

Executive titles in this filing

  • PHILLIP ELAM (CEO/Treasurer)

Highest reported compensation

  • PHILLIP ELAM (CEO/Treasurer): $146,354 total reported compensation
  • MICAHEL PITTMAN (CFO): $61,905 total reported compensation
  • BRUCE RHODES (VP LOANS): $61,602 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2015. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provision of credit union services

What it reported doing in 2015

Provision of credit union services to this state chartered credit union's membership

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Program spending has declined or grown slowly and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 100
  • Accountability: 100
  • Sustainability: 54
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 97.6%; rating input score 98
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • 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: 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: 3.3%; rating input score 50; 50th percentile among comparable filings
  • Total-asset coverage ratio: 28.63; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0.82; rating input score 11; 11th percentile among comparable filings
  • Officer compensation ratio: 31%; rating input score 5; 5th percentile among comparable filings

Growth

  • Program expense growth: -6.2% per year; rating input score 0; 17th percentile among comparable filings
  • Revenue growth: -7.7% per year; rating input score 0; 10th percentile among comparable filings
  • Asset growth: 2.2% per year; rating input score 100; 43rd percentile among comparable filings

Details

  • Where the money goes: 97.6% of revenue deployed · 100% of spending went to programs
  • Governance: 5 of 5 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $146K · 9 people listed
  • Consistency: 18 of 18 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 6 filing years from 2010 to 2015
  • Contacts: How to reach this organization
  • Money network: 7 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 — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Sustainability: Operating margin scored 50/100.
  • High — Sustainability: Officer compensation ratio scored 5/100.
  • High — Sustainability: Liabilities to assets ratio scored 11/100.