Hammond Firefighters Assoccredit Union

Nonprofit profile at a glance

EIN
356033351
IRS 990 coverage
2016–2024
Forms available
Form 990 2024
Location
Hammond, IN, USA
Phone
2199371602
Rating
34
Verdict
REVIEW
Rating confidence
Moderate

Reported finances

Revenue
$57,680
Expenses
$40,615
Assets
$1,309,338
Liabilities
$430

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

Leadership & pay

3 people listed

Highest reported compensation

  • CHRIS TRTAN (SECRETARY): $8,580 total reported compensation
  • MATTHEW MCBROOM (TRUSTEE): $5,720 total reported compensation
  • JEFF DIXON (MANAGER): $4,290 total reported compensation

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

Overview

Mission

The hammond firefighters assoc. Credit union is a small credit union made up of firemen and their immediate family. Our goal is to give as much back to our members via interest rates as possible while remaining sound financially.

What it reported doing in 2024

Made sound investments with members funds to accomplish mission of organization.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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

REVIEW - The filed numbers largely add up and revenue comfortably covers expenses. 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: 100
  • Accountability: 5
  • Sustainability: 67
  • 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: 0%; rating input score 0; 9th percentile among comparable filings
  • Governance controls: 1 of 9 controls in place; rating input score 12
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Limited
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 29.6%; rating input score 78; 78th percentile among comparable filings
  • Total-asset coverage ratio: 32.24; rating input score 87; 87th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 36; 36th percentile among comparable filings
  • Officer compensation ratio: 45.8%; rating input score 7; 7th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -4% per year; rating input score 0; 46th percentile among comparable filings
  • Asset growth: -1.2% per year; rating input score 0; 34th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 0 of 5 board members independent · 1 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $9K · 3 people listed
  • Consistency: 9 of 15 current checks pass · 6 findings to review
  • Schedules: 2 filed schedules
  • Filing history: 9 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 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.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Accountability: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 6 of 7 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX AllOtherExpenses column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX CompCurrentOfficersDirectors column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX ConferencesMeetings column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX OfficeExpenses column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX PayrollTaxes column sum did not reconcile in the filed values.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 7/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 36/100.