First Technology Credit Union
Nonprofit profile at a glance
- EIN
- 930412056
- IRS 990 coverage
- 2010–2010
- Forms available
- Form 990 2010
- Location
- Beaverton, OR, USA
- Phone
- 5036444034
- Rating confidence
- Limited
- Sector
- Credit Unions
Reported finances
- Revenue
- $108,939,717
- Expenses
- $101,438,298
- Assets
- $2,324,325,316
- Liabilities
- $2,134,061,460
Source: IRS Form 990. Selected filing: tax year 2010. Amounts in USD.
Leadership & pay
24 people listed
Source: IRS Form 990. Selected filing: tax year 2010. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The purpose of this credit union is to promote thrift among credit union members by affording them the opportunity to accumulate their savings, to create a source of credit at fair and reasonable interest rates, and to provide the opportunity for the members to use and control their money in order to improve their economic and social condition.
What it reported doing in 2010
Total membership during 2010 reached 170,851 members. First tech credit union provides members with deposit services at competative rates which funded 19,169 new loans to members in 2010.
Operating model
- Revenue model
- Earned-program. 80% 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: 89
- Sustainability: 63
- 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; 63rd percentile among comparable filings
- Pay-setting controls: 5 of 6 controls in place; rating input score 83
- Compensation committee: Pass
- Independent consultant: Pass
- Other Form 990s reviewed: Missing
- Written employment contract: Pass
- 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: Scored; rating input score 0
Accountability
- Independent voting board: 88.9%; rating input score 89; 45th percentile among comparable filings
- Governance controls: 8 of 9 controls in place; rating input score 89
- 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: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 6.9%; rating input score 68; 68th percentile among comparable filings
- Total-asset coverage ratio: 22.91; rating input score 99; 99th percentile among comparable filings
- Liabilities to assets ratio: 0.92; rating input score 11; 11th percentile among comparable filings
- Officer compensation ratio: 11.2%; rating input score 2; 2nd 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: 8 of 9 board members independent · 8 of 9 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $7.8M · 24 people listed · 5 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed
- Consistency: 29 of 29 current checks pass
- Schedules: 5 filed schedules · includes executive pay and related organizations
- Related organizations: 1 filed related-organization link
- 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 — Transparency & Controls: Related-party transparency scored 0/100.
- Review — Accountability: Governance controls: Form 990 shared with the board not reported.
- High — Sustainability: Officer compensation ratio scored 2/100.
- High — Sustainability: Liabilities to assets ratio scored 11/100.