Flag Credit Union

Nonprofit profile at a glance

EIN
590992912
IRS 990 coverage
2010–2015
Forms available
Form 990 2015
Location
Tallahassee, FL, USA
Phone
8504886781
Rating
48
Verdict
MIXED
Rating confidence
Moderate
Sector
Credit Unions

Official website

Reported finances

Revenue
$1,986,245
Expenses
$1,863,735
Assets
$35,838,737
Liabilities
$32,273,101

Source: IRS Form 990. Selected filing: tax year 2015. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • SUE MASSA (PRESIDENT/CE)

Highest reported compensation

  • SUE MASSA (PRESIDENT/CE): $104,438 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2015. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To build a permanent relationship with our members by providing secure financial opportunities with superior products and services delivered by friendly and knowledgeable officials and staff.

What it reported doing in 2015

Electronic services - flag credit union provides our members access to their accounts through debit cards, audio response, home banking, shared branching and atms. It is important that our members be able to handle their requests efficiently through the use of technology. Our members can set up direct deposit, payroll deduction, achs, online bill payments and receive e-statements for their convenience.

Operating model

Revenue model
Earned-program. 97% 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: 90
  • Sustainability: 64
  • 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: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: 6.2%; rating input score 60; 60th percentile among comparable filings
  • Total-asset coverage ratio: 19.23; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0.9; rating input score 9; 9th percentile among comparable filings
  • Officer compensation ratio: 5.6%; rating input score 55; 55th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -5.4% per year; rating input score 0; 13th percentile among comparable filings
  • Asset growth: -0.1% per year; rating input score 0; 33rd percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 9 of 9 board members independent · 6 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $366K in reported program spending
  • Leadership: top reported pay $104K · 10 people listed
  • Consistency: 11 of 12 current checks pass · 1 finding to review
  • Schedules: 3 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 9/100.
  • Review — Sustainability: Officer compensation ratio scored 55/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.