Greater Kentucky Credit Union Inc

Nonprofit profile at a glance

EIN
616026508
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Lexington, KY, USA
Phone
8592319300
Rating
44
Verdict
MIXED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$5,717,216
Expenses
$5,649,971
Assets
$89,886,631
Liabilities
$79,939,565

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

Leadership & pay

12 people listed

Executive titles in this filing

  • Michael Little (President/CEO)
  • Julie Logan (Vice President)
  • Devon Adams (Vice President of Member Development)
  • Debbie Pyle (Retired CEO)

Highest reported compensation

  • Michael Little (President/CEO): $186,425 total reported compensation
  • Jeffrey Calvert (IT Manager): $141,007 total reported compensation
  • Julie Logan (Vice President): $112,817 total reported compensation

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

Overview

Mission

We are a tax exempt credit union providing share and loan services to members.

What it reported doing in 2024

We are a co-op financial institution that promotes thrift and good use of credit. We paid $1,821,457 in Dividends and collected $5,218,165 in Interest Income, Investment Income and Fees.

Operating model

Revenue model
Other-operating. 87% of the money available for current operations came from other operating 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 - Most voting board members are independent and the filed numbers largely add up. 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: 60
  • Accountability: 91
  • Sustainability: 49
  • Growth: 100

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: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • 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: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • 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: 1.2%; rating input score 38; 38th percentile among comparable filings
  • Total-asset coverage ratio: 15.91; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0.89; rating input score 8; 8th percentile among comparable filings
  • Officer compensation ratio: 12.8%; rating input score 23; 23rd percentile among comparable filings

Growth

  • Program expense growth: 5.3% per year; rating input score 100; 41st percentile among comparable filings
  • Revenue growth: 3% per year; rating input score 100; 27th percentile among comparable filings
  • Asset growth: 3.9% per year; rating input score 100; 29th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 5 of 5 board members independent · 7 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $5.6M in reported program spending
  • Leadership: top reported pay $186K · 12 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 13 of 14 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 9 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • Moderate — Sustainability: Operating margin scored 38/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 8/100.
  • High — Sustainability: Officer compensation ratio scored 23/100.