Genesis Employees Credit Union Inc

Nonprofit profile at a glance

EIN
310842279
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Zanesville, OH, USA
Phone
7404544603
Rating
80
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$1,353,227
Expenses
$1,025,630
Assets
$20,283,642
Liabilities
$17,478,186

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

14 people listed

Executive titles in this filing

  • Michael King (Chief Executive Officer)
  • Shane Jenkins (President of Board)
  • Judy Pyle (Vice President of Board)

Highest reported compensation

  • Michael King (Chief Executive Officer): $120,849 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To be a growing, secure and primary financial institution for our members through our dedication to customer service and the diversity of our financial products.

What it reported doing in 2024

The organization is a state chartered member owned cooperative credit union that provides financial products and services to the member owners.

Operating model

Revenue model
Other-operating. 76% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 70
  • Transparency & Controls: 90
  • Accountability: 84
  • Sustainability: 70
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 74%; rating input score 74
  • Program expense ratio: 87%; rating input score 87
  • 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: 5 of 8 controls in place; rating input score 62
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 24.2%; rating input score 80; 80th percentile among comparable filings
  • Total-asset coverage ratio: 19.78; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0.86; rating input score 8; 8th percentile among comparable filings
  • Officer compensation ratio: 11.8%; rating input score 31; 31st percentile among comparable filings

Growth

  • Program expense growth: 4% per year; rating input score 100; 37th percentile among comparable filings
  • Revenue growth: 5.2% per year; rating input score 100; 44th percentile among comparable filings
  • Asset growth: 5.5% per year; rating input score 100; 41st percentile among comparable filings

Details

  • Where the money goes: 74% of revenue deployed · 87% of spending went to programs
  • Governance: 13 of 13 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $892K in reported program spending
  • Leadership: top reported pay $121K · 14 people listed
  • Consistency: 41 of 41 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 15 filing years from 2010 to 2024
  • 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.

  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 8/100.
  • Moderate — Sustainability: Officer compensation ratio scored 31/100.