Heartland Credit Union Charitable Foundation Inc

Nonprofit profile at a glance

EIN
431896922
IRS 990 coverage
2010–2022
Forms available
Form 990 2022
Location
Plano, TX, USA
Phone
8004425762
Rating
69
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Human Service Organizations

Reported finances

Revenue
$337,165
Expenses
$317,708
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

15 people listed

Executive titles in this filing

  • BRAD DOUGLAS FORMER (PRESIDENT & CEO)
  • LISA ALTHOFF-SIMMONS (INTERIM CEO)

Highest reported compensation

  • BRAD DOUGLAS FORMER (PRESIDENT & CEO): $512,472 total reported compensation
  • LISA ALTHOFF-SIMMONS (INTERIM CEO): $318,967 total reported compensation
  • ANDREA ROBINSON (EXC. DIRECTOR OF HCUCF): $169,651 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The heartland credit union charitable foundation (hcucf) invests in and through credit unions to enhance their ability to serve their members and their community.

What it reported doing in 2022

In 2023, heartland credit union charitable foundation merged with a like size organization with similar core values. This opportunity will double the size of heartland credit union charitable foundation in both infrastructure and assets.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and most voting board members are independent. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 56
  • Accountability: 77
  • Sustainability: 27
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 85.4%; rating input score 85
  • Program expense ratio: 90.3%; rating input score 90
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 25th 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: 35.4%; rating input score 35; 40th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 9 controls in place; rating input score 44
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 5.8%; rating input score 53; 53rd percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 27.6%; rating input score 13; 13th percentile among comparable filings

Growth

  • Program expense growth: 23.5% per year; rating input score 100; 87th percentile among comparable filings
  • Revenue growth: 11.8% per year; rating input score 100; 77th percentile among comparable filings
  • Asset growth: 1.7% per year; rating input score 100; 34th percentile among comparable filings

Details

  • Where the money goes: 85.4% of revenue deployed · 90.3% of spending went to programs
  • Governance: 12 of 12 board members independent · 4 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $287K in reported program spending
  • Leadership: top reported pay $512K · 15 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 20 of 21 current checks pass · 1 finding to review
  • Schedules: 9 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 11 filing years from 2010 to 2022
  • Contacts: How to reach this organization
  • Money network: 11 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Accountability: Governance controls: 5 of 9 not reported.
  • Moderate — Transparency & Controls: Grant itemization coverage scored 35/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • Review — Sustainability: Operating margin scored 53/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 13/100.