Georgia's Own Credit Union

Nonprofit profile at a glance

EIN
580147128
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Atlanta, GA, USA
Phone
4045751817
Rating confidence
Limited
Sector
Credit Unions

Official website

Reported finances

Revenue
$284,620,836
Expenses
$298,815,266
Assets
$4,185,511,517
Liabilities
$3,847,785,952

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

Leadership & pay

26 people listed

Executive titles in this filing

  • DAVID A PRETER (DIRECTOR/CEO)
  • BARRY HEAPE (PRESIDENT MARKET DEVELOPME)
  • ROBERT YOUNGBLOOD (REGIONAL PRESIDENT SOUTHWE)
  • SANJAY MALHOTRA (REGIONAL PRESIDENT, ATLANTA REGION)

Highest reported compensation

  • KELLEY GARMON (EVP, CHIEF RETAIL OFFICER): $2,311,170 total reported compensation
  • BARRY HEAPE (PRESIDENT MARKET DEVELOPME): $1,449,339 total reported compensation
  • DAVID A PRETER (DIRECTOR/CEO): $1,413,497 total reported compensation

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

Overview

Mission

Banking on purpose.

What it reported doing in 2024

Provided thrift savings / borrowings to 240,428 members.

Operating model

Revenue model
Earned-program. 91% 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: 87
  • Accountability: 85
  • Sustainability: 37
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 8th 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: 78.9%; rating input score 79; 17th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 81.8%; rating input score 82; 29th 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: -5%; rating input score 13; 13th percentile among comparable filings
  • Total-asset coverage ratio: 14.01; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0.92; rating input score 11; 11th percentile among comparable filings
  • Officer compensation ratio: 4.8%; rating input score 18; 18th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 9.8% per year; rating input score 100; 76th percentile among comparable filings
  • Asset growth: 8.1% per year; rating input score 100; 59th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 9 of 11 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $2.3M · 26 people listed · 5 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $13.9M reported
  • Consistency: 13 of 14 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes grants, executive pay, and related organizations
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 51 filed money-flow records
  • Related organizations: 15 filed related-organization links
  • 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 13/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • High — Sustainability: Liabilities to assets ratio scored 11/100.
  • High — Sustainability: Officer compensation ratio scored 18/100.