Indianhead Credit Union

Nonprofit profile at a glance

EIN
396049800
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Spooner, WI, USA
Phone
7156358273
Rating
49
Verdict
MIXED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$5,340,599
Expenses
$3,452,933
Assets
$90,905,912
Liabilities
$78,963,391

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

Leadership & pay

9 people listed

Executive titles in this filing

  • DALE GOTTSCHALK (CEO/PRESIDENT)
  • Renee Zimmerman (Vice-President Operations)

Highest reported compensation

  • DALE GOTTSCHALK (CEO/PRESIDENT): $205,863 total reported compensation
  • Renee Zimmerman (Vice-President Operations): $100,362 total reported compensation

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

Overview

Mission

To make available the best possible financial products to our members, by providing competitive rates, member education, and outstanding service, while maintaining the credit union's long-term financial stability.

What it reported doing in 2024

The Credit Union provides staff and space for the VITA/AARP site at our Spooner Office; we did at least 493 tax returns for low and moderate income individuals in our community at no charge to the tax payer. This service does not generate income; the expenses are an estimate since staff is doing this during regular business hours. I estimate the cost to be $8500.

Operating model

Revenue model
Other-operating. 74% of the money available for current operations came from other operating revenue.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. 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: 77
  • Accountability: 84
  • Sustainability: 74
  • 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: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • 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: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 35.3%; rating input score 87; 87th percentile among comparable filings
  • Total-asset coverage ratio: 26.33; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 0.87; rating input score 8; 8th percentile among comparable filings
  • Officer compensation ratio: 8.9%; rating input score 34; 34th percentile among comparable filings

Growth

  • Program expense growth: 14% per year; rating input score 100; 75th percentile among comparable filings
  • Revenue growth: 8% per year; rating input score 100; 60th percentile among comparable filings
  • Asset growth: 6.7% per year; rating input score 100; 43rd percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 7 of 7 board members independent · 5 of 8 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $206K · 9 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 41 of 41 current checks pass
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 8/100.
  • Moderate — Sustainability: Officer compensation ratio scored 34/100.