Financial Plus Credit Union
Nonprofit profile at a glance
- EIN
- 420802188
- IRS 990 coverage
- 2010–2025
- Forms available
- Form 990 2025
- Location
- West Des Moines, IA, USA
- Phone
- 5152241222
- Rating
- 53
- Verdict
- MIXED
- Rating confidence
- Moderate
- Sector
- Credit Unions
Reported finances
- Revenue
- $12,116,323
- Expenses
- $9,261,985
- Assets
- $233,273,224
- Liabilities
- $200,807,543
Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.
Leadership & pay
8 people listed
People named in this filing
- BEV BIERMA (Director)
- NANCY DEVINAY (Director)
- GEORGE DUNLAP (Director)
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 2025. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
State chartered credit union
Operating model
- Revenue model
- Earned-program. 87% 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: 90
- Accountability: 94
- Sustainability: 78
- 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; 64th 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: 6 of 7 controls in place; rating input score 86
- 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: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 23.6%; rating input score 79; 79th percentile among comparable filings
- Total-asset coverage ratio: 25.19; rating input score 97; 97th percentile among comparable filings
- Liabilities to assets ratio: 0.86; rating input score 10; 10th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 96; 96th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 7% per year; rating input score 100; 57th percentile among comparable filings
- Asset growth: 5.5% per year; rating input score 100; 38th percentile among comparable filings
Details
- Where the money goes: 0% of revenue deployed · 0% of spending went to programs
- Governance: 8 of 8 board members independent · 6 of 7 filing controls reported
- Programs: Filed program service accomplishments
- Leadership: top reported pay $0 · 8 people listed
- Consistency: 13 of 14 current checks pass · 1 finding to review
- Schedules: 2 filed schedules
- Filing history: 16 filing years from 2010 to 2025
- 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.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
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: Form 990 shared with the board not reported.
- High — Sustainability: Liabilities to assets ratio scored 10/100.