First Credit Union
Nonprofit profile at a glance
- EIN
- 391020122
- IRS 990 coverage
- 2010–2015
- Forms available
- Form 990 2015, Form 990-N 2009
- Location
- Oak Creek, WI, USA
- Rating
- 44
- Verdict
- MIXED
- Rating confidence
- Moderate
- Sector
- Credit Unions
Reported finances
- Revenue
- $472,537
- Expenses
- $674,790
- Assets
- $0
- Liabilities
- $0
Source: IRS Form 990. Selected filing: tax year 2015. Amounts in USD.
Leadership & pay
9 people listed
Executive titles in this filing
- Carol Pecsi (President)
Highest reported compensation
- Kandace Lessard (Operation Manager): $74,579 total reported compensation
- Carol Pecsi (President): $56,707 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2015. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
We are a Non-Profit, Member Owned Credit Union. We are committed to provide accurate and prompt financial services in a friendly people helping people manner, while maintaining financial stability.
What it reported doing in 2015
We funded 367 loans during 2015. As of 12/31/15, we had 32 mortgages/home equity lines,610 consumer loans and 1 member business loan. We also had 200 credit cards accounts with members.
Operating model
- Revenue model
- Earned-program. 92% 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: 68
- Sustainability: 6
- Growth: 0
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; 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: 2 of 9 controls in place; rating input score 22
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: Fail
- Other executive compensation review process: Fail
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: -42.8%; rating input score 6; 6th percentile among comparable filings
- Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
- Liabilities to assets ratio: Limited
- Officer compensation ratio: 19.5%; rating input score 21; 21st percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: -1.5% per year; rating input score 0; 30th percentile among comparable filings
- Asset growth: -13.9% per year; rating input score 0; 9th 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 · 2 of 9 filing controls reported
- Programs: 2 filed program accomplishments
- Leadership: top reported pay $75K · 9 people listed
- Consistency: 7 of 8 current checks pass · 1 finding to review
- Schedules: 2 filed schedules
- Filing history: 6 filing years from 2010 to 2015
- 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.
- High — Accountability: Governance controls: 6 of 8 not reported.
- Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
- High — Growth: Revenue growth scored 0/100.
- High — Sustainability: Operating margin scored 6/100.
- High — Growth: Asset growth scored 0/100.
- High — Sustainability: Total-asset coverage ratio scored 1/100.
- High — Sustainability: Officer compensation ratio scored 21/100.