First Metropolitan Credit Union
Nonprofit profile at a glance
- EIN
- 941126940
- IRS 990 coverage
- 2010–2010
- Forms available
- Form 990 2010
- Location
- Vacaville, CA, USA
- Phone
- 7074691671
- Rating confidence
- Limited
- Sector
- Credit Unions
Reported finances
- Revenue
- $9,359,674
- Expenses
- $15,731,697
- Assets
- $0
- Liabilities
- $0
Source: IRS Form 990. Selected filing: tax year 2010. Amounts in USD.
Leadership & pay
13 people listed
Source: IRS Form 990. Selected filing: tax year 2010. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
See schedule ofirst metropolitan credit union is a cooperative, organized for the purposes of promoting thrift and savings among its members, creating a source of credit for them at rates of interest set by the board of directors, and providing an opportunity for them to use and control their own money on a democratic basis in order to improve their economic and social conditions. As a cooperative, first metropolitan credit union conducts its business for the mutal benefit and general welfare of its members with the earnings, savings, benefits, or services of the credit union being distributed to its members as patrons.
What it reported doing in 2010
The credit union offers share (deposit) accounts at very competitive rates to its 20,000 plus members to facilitate their financial security. The share accounts range from regular savings and checking accounts to high-yield money market and certificate of deposit accounts.
Operating model
- Revenue model
- Earned-program. 94% 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: 88
- Accountability: 100
- Sustainability: 4
- Growth: NotEnoughData
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; 59th percentile among comparable filings
- Pay-setting controls: 4 of 6 controls in place; rating input score 67
- Compensation committee: Pass
- Independent consultant: Pass
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Pass
- Board or committee approval: Pass
- 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; 66th percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- 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: -68.1%; rating input score 1; 1st percentile among comparable filings
- Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
- Liabilities to assets ratio: Limited
- Officer compensation ratio: 7.1%; rating input score 31; 31st percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: Limited
- Asset growth: Limited
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 7 of 7 board members independent · 9 of 9 filing controls reported
- Programs: 3 filed program accomplishments
- Leadership: top reported pay $372K · 13 people listed · 4 of 6 pay-setting controls reported
- Consistency: 10 of 10 current checks pass
- Schedules: 4 filed schedules · includes executive pay
- 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 — Sustainability: Operating margin scored 1/100.
- High — Sustainability: Total-asset coverage ratio scored 0/100.
- Moderate — Sustainability: Officer compensation ratio scored 31/100.