Entrust Financial Credit Union

Nonprofit profile at a glance

EIN
541040653
IRS 990 coverage
2014–2018
Forms available
Form 990 2018
Location
Richmond, VA, USA
Phone
8043538012
Rating confidence
Limited
Sector
Credit Unions

Official website

Reported finances

Revenue
$4,148,038
Expenses
$4,011,045
Assets
$74,599,111
Liabilities
$68,297,624

Source: IRS Form 990. Selected filing: tax year 2018. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • LISA LAMBRECHT (PRESIDENT/CEO)

Highest reported compensation

  • LISA LAMBRECHT (PRESIDENT/CEO): $177,664 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2018. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Entrust financial credit union's primary exempt purpose is to provide superior service and solutions that meet their members' ever-changing needs. Entrust credit union is a not-for-profit, financially secure cooperative that is owned and controlled by its members.

What it reported doing in 2018

Program service accomplishments include less expensive loan products relative to other financial institutions, higher deposit account rates, and strong community involvement.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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: 60
  • Accountability: 95
  • Sustainability: 59
  • Growth: 40

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: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • 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; 64th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • 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: Fail
    • 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: 18.6; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0.92; rating input score 9; 9th percentile among comparable filings
  • Officer compensation ratio: 4.4%; rating input score 53; 53rd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 1.3% per year; rating input score 100; 27th percentile among comparable filings
  • Asset growth: -0.6% per year; rating input score 0; 21st 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 · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $178K · 8 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 12 of 12 current checks pass
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 5 filing years from 2014 to 2018
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Operating margin scored 50/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • High — Sustainability: Liabilities to assets ratio scored 9/100.
  • Review — Sustainability: Officer compensation ratio scored 53/100.