FEDCom Credit Union
Nonprofit profile at a glance
- EIN
- 380592915
- IRS 990 coverage
- 2010–2016
- Forms available
- Form 990 2016
- Location
- Grand Rapids, MI, USA
- Phone
- 6163647283
- Rating
- 55
- Verdict
- MIXED
- Rating confidence
- Moderate
- Sector
- Credit Unions
Reported finances
- Revenue
- $3,582,290
- Expenses
- $3,322,702
- Assets
- $62,328,465
- Liabilities
- $55,438,182
Source: IRS Form 990. Selected filing: tax year 2016. Amounts in USD.
Leadership & pay
9 people listed
Executive titles in this filing
- Anna Marie Zielinski (President & CEO)
Highest reported compensation
- Anna Marie Zielinski (President & CEO): $115,861 total reported compensation
- Clint Holshoe (VP Finance): $66,163 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2016. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To provide competitive deposit and loan products to the membership base according to the Michigan Credit Union act.
What it reported doing in 2016
The Credit Union provides a variety of loans to members including real estate, credit card, vehicle and other. The total number of loans outstanding at 12/31/2016 was 5,549.
Operating model
- Revenue model
- Earned-program. 93% 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
MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 0
- Transparency & Controls: 100
- Accountability: 95
- Sustainability: 65
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 0%; rating input score 0
- Program expense ratio: 0%; rating input score 0
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd 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; 64th percentile among comparable filings
- Governance controls: 8 of 9 controls in place; rating input score 89
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- 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: 7.2%; rating input score 65; 65th percentile among comparable filings
- Total-asset coverage ratio: 18.76; rating input score 96; 96th percentile among comparable filings
- Liabilities to assets ratio: 0.89; rating input score 11; 11th percentile among comparable filings
- Officer compensation ratio: 5.5%; rating input score 44; 44th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 4.9% per year; rating input score 100; 54th percentile among comparable filings
- Asset growth: 4.7% per year; rating input score 100; 50th percentile among comparable filings
Details
- Where the money goes: 0% of revenue deployed · 0% of spending went to programs
- Governance: 7 of 7 board members independent · 8 of 9 filing controls reported
- Programs: 2 filed program accomplishments
- Leadership: top reported pay $116K · 9 people listed
- Highest-paid contractors: 2 contractors listed
- Consistency: 12 of 13 current checks pass · 1 finding to review
- Schedules: 2 filed schedules
- Filing history: 7 filing years from 2010 to 2016
- 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.
- High — Financial Efficiency: Mission deployment rate scored 0/100.
- High — Financial Efficiency: Program expense ratio scored 0/100.
- Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
- Review — Accountability: Governance controls: Whistleblower policy not reported.
- High — Sustainability: Liabilities to assets ratio scored 11/100.
- Moderate — Sustainability: Officer compensation ratio scored 44/100.