Ilwu Credit Union

Nonprofit profile at a glance

EIN
951786417
IRS 990 coverage
2010–2018
Forms available
Form 990 2018
Location
Long Beach, CA, USA
Phone
3108346411
Rating confidence
Limited

Reported finances

Revenue
$16,210,365
Expenses
$13,029,841
Assets
$266,080,850
Liabilities
$235,304,991

Source: IRS Form 990. Selected filing: tax year 2018. Amounts in USD.

Leadership & pay

16 people listed

Executive titles in this filing

  • RALPH RUIZ (PRESIDENT & CEO)
  • KIMBERLY THOMAS (EXECUTIVE VICE PRESIDENT)

Highest reported compensation

  • RALPH RUIZ (PRESIDENT & CEO): $309,226 total reported compensation
  • M ROD JACOBS (VP OF TECHNOLOGY): $183,358 total reported compensation
  • PETER KOEPPEN (VP OF LENDING): $169,807 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2018. 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, i.l.w.u. 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 2018

We provided revolving lines of credit at competitive rates for our members.

Operating model

Revenue model
Earned-program. 87% 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: 71
  • Accountability: 78
  • Sustainability: 73
  • Growth: 60

Detailed rating inputs

Financial Efficiency

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

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 4th 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: 85.7%; rating input score 86; 19th percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: 19.6%; rating input score 87; 87th percentile among comparable filings
  • Total-asset coverage ratio: 20.42; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 0.88; rating input score 12; 12th percentile among comparable filings
  • Officer compensation ratio: 9%; rating input score 19; 19th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 6.4% per year; rating input score 100; 63rd percentile among comparable filings
  • Asset growth: 11.9% per year; rating input score 100; 79th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 6 of 7 board members independent · 6 of 9 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $309K · 16 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 12 of 12 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 9 filing years from 2010 to 2018
  • 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.
  • 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.

  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 12/100.
  • High — Sustainability: Officer compensation ratio scored 19/100.