First Choice Credit Union
Nonprofit profile at a glance
- EIN
- 391135610
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Marshfield, WI, USA
- Phone
- 7153878405
- Rating confidence
- Limited
- Sector
- Credit Unions
Reported finances
- Revenue
- $2,416,988
- Expenses
- $1,856,717
- Assets
- $45,259,934
- Liabilities
- $38,426,775
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
9 people listed
Executive titles in this filing
- ROB SCHULZ (PRESIDENT / DIRECTOR)
Highest reported compensation
- ROB SCHULZ (PRESIDENT / DIRECTOR): $119,721 total reported compensation
- KEN FORREST (EVP): $78,031 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
See schedule o
What it reported doing in 2024
Holding deposits for and making loans to members.
Operating model
- Revenue model
- Earned-program. 62% 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
- 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: 90
- Accountability: 86
- Sustainability: 71
- Growth: 60
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; 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: 6 of 9 controls in place; rating input score 67
- 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: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 23.2%; rating input score 80; 80th percentile among comparable filings
- Total-asset coverage ratio: 24.38; rating input score 97; 97th percentile among comparable filings
- Liabilities to assets ratio: 0.85; rating input score 9; 9th percentile among comparable filings
- Officer compensation ratio: 10.7%; rating input score 28; 28th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 3.6% per year; rating input score 100; 31st percentile among comparable filings
- Asset growth: 4.2% per year; rating input score 100; 30th 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 · 6 of 9 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $120K · 9 people listed
- Consistency: 10 of 10 current checks pass
- Schedules: 2 filed schedules
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 2 filed money-flow records
- Related organizations: Filed and resolved organization relationships.
- 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.
- Review — Accountability: Governance controls: 2 of 8 not reported.
- High — Sustainability: Liabilities to assets ratio scored 9/100.
- High — Sustainability: Officer compensation ratio scored 28/100.