Ibew Plus Credit Union
Nonprofit profile at a glance
- EIN
- 880067875
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Las Vegas, NV, USA
- Phone
- 7028714746
- Rating confidence
- Limited
Reported finances
- Revenue
- $5,953,910
- Expenses
- $5,039,380
- Assets
- $123,763,069
- Liabilities
- $110,441,425
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
16 people listed
Executive titles in this filing
- CAROL SCHUMACHER (PRESIDENT/CEO)
Highest reported compensation
- CAROL SCHUMACHER (PRESIDENT/CEO): $357,437 total reported compensation
- STEPHANIE CALACAL (EVP): $249,128 total reported compensation
- KELLY ETHIER (EVP/CLO): $216,111 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
A cooperative, organized for the purpose of promoting thrift and savings among its members, creating a source of credit for them at rates of interest set by the board of directors and providing an opportunity for them to use and control their own money on a democratic basis in order to improve their economic and social conditions. As a cooperative, plus credit union conducts its business for the mutual benefit and general welfare of its members with the earnings, savings, benefits, or services of the credit union being distributed to its members as patrons.
What it reported doing in 2024
The las vegas electrical federal credit union was formed in 1952, in las vegas, Nevada with 100 members of i.b.e.w. Local #357 as the charter members of the credit union. Ibew plus credit union was the first union-represented credit union in Nevada. Over the years, we have become a full-service financial institution offering our members the highest level of service, respect, and security. Our lending program encompasses all lending areas under which our members may need consumer credit during their membership with ibew plus credit union, such as auto loans, home loans, and home equity loans. Conversely, where our members need a savings vessel that gives the safety and security of banking deposit products, ibew plus credit union offers a wide variety of interest bearing consumer deposit accounts from checking accounts through ira time deposits and all things in between. Our driving principle is to be available for our members/owner's financial needs while providing an environment where our member/owner's financial needs compliment and assist other member/owner's needs and requirements in a purely cooperative environment.
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
- 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: 77
- Accountability: 91
- Sustainability: 64
- Growth: 20
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: Limited
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: 3 of 6 controls in place; rating input score 50
- Compensation committee: Missing
- Independent consultant: Missing
- 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: 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: Fail
- Whistleblower policy: Fail
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 15.4%; rating input score 71; 71st percentile among comparable filings
- Total-asset coverage ratio: 24.56; rating input score 97; 97th percentile among comparable filings
- Liabilities to assets ratio: 0.89; rating input score 8; 8th percentile among comparable filings
- Officer compensation ratio: 22.9%; rating input score 10; 10th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: -0.9% per year; rating input score 0; 9th percentile among comparable filings
- Asset growth: 3% per year; rating input score 100; 24th percentile among comparable filings
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 7 of 7 board members independent · 7 of 9 filing controls reported
- Programs: 3 filed program accomplishments
- Leadership: top reported pay $357K · 16 people listed · 3 of 6 pay-setting controls reported
- Highest-paid contractors: 2 contractors listed · $464K reported
- Consistency: 12 of 12 current checks pass
- Schedules: 4 filed schedules · includes executive pay
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 13 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 — Growth: Revenue growth scored 0/100.
- Review — Accountability: Governance controls: 2 of 9 not reported.
- High — Sustainability: Liabilities to assets ratio scored 8/100.
- High — Sustainability: Officer compensation ratio scored 10/100.