Enterprise Credit Union

Nonprofit profile at a glance

EIN
480665809
IRS 990 coverage
2014–2021
Forms available
Form 990 2021
Location
Enterprise, KS, USA
Phone
7852638292
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Credit Unions

Official website

Reported finances

Revenue
$107,301
Expenses
$102,252
Assets
$1,555,029
Liabilities
$1,475,579

Source: IRS Form 990. Selected filing: tax year 2021. Amounts in USD.

Leadership & pay

7 people listed

People named in this filing

  • Barth Amend (Chairman)
  • Jack Craig (Board Member)
  • Peter Jackson (Vice Chairman)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2021. 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 2021

Provides a source of credit to members at a fair and reasonable rate of interest. As of December 31, 2020 there were 171 loans outstanding totaling $1,144,102.85.

Operating model

Revenue model
Other-operating. 99% of the money available for current operations came from other operating revenue.
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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 90
  • Accountability: 24
  • Sustainability: 55
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 95.3%; rating input score 95
  • 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: 0%; rating input score 0; 7th percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: 4.7%; rating input score 41; 41st percentile among comparable filings
  • Total-asset coverage ratio: 15.21; rating input score 92; 92nd percentile among comparable filings
  • Liabilities to assets ratio: 0.95; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 70; 70th percentile among comparable filings

Growth

  • Program expense growth: 66.7% per year; rating input score 100; 96th percentile among comparable filings
  • Revenue growth: 1.6% per year; rating input score 100; 41st percentile among comparable filings
  • Asset growth: 2.9% per year; rating input score 100; 39th percentile among comparable filings

Details

  • Where the money goes: 95.3% of revenue deployed · 100% of spending went to programs
  • Governance: 0 of 6 board members independent · 4 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $102K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 18 of 18 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 8 filing years from 2014 to 2021
  • Contacts: How to reach this organization
  • 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 — Accountability: Independent voting board scored 0/100.
  • Review — Accountability: Governance controls: 2 of 6 not reported.
  • Moderate — Sustainability: Operating margin scored 41/100.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.