Launch Credit Union
Nonprofit profile at a glance
- EIN
- 591030268
- IRS 990 coverage
- 2021–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024
- Location
- Merritt Island, FL, USA
- Phone
- (321) 455-9400
- Rating confidence
- Limited
Reported finances
- Revenue
- $85,218,164
- Expenses
- $80,461,174
- Assets
- $1,395,191,746
- Liabilities
- $1,270,747,535
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
25 people listed
Executive titles in this filing
- JOSEPH MIRACHI (PRESIDENT & CEO)
- ALAN ROPES (PRESIDENT & CEO (CUSO - VYFI, LLC))
Highest reported compensation
- JOSEPH MIRACHI (PRESIDENT & CEO): $875,542 total reported compensation
- GARY LEVAR (EVP COO): $354,832 total reported compensation
- KEVIN LEBEAU (EVP CFO): $348,692 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 help our members experience more financial freedom.
What it reported doing in 2024
In our efforts to promote thrift among our members, the credit union provides competitive savings products, which include savings, checking, certificate of deposit accounts as well as ira savings and certificate of deposit accounts.
Operating model
- Revenue model
- Earned-program. 71% 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: 66
- Accountability: 86
- Sustainability: 60
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: Limited
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 88.9%; rating input score 89; 3rd 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: Pass
- Compensation survey or study: Missing
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 51.8%; rating input score 52; 10th percentile among comparable filings
- Major donor itemization: Limited
- Related-party transparency: Scored; rating input score 0
Accountability
- Independent voting board: 100%; rating input score 100; 77th percentile among comparable filings
- Governance controls: 6 of 9 controls in place; rating input score 67
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Pass
- CEO compensation review process: Pass
- 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: 5.6%; rating input score 59; 59th percentile among comparable filings
- Total-asset coverage ratio: 17.34; rating input score 95; 95th percentile among comparable filings
- Liabilities to assets ratio: 0.91; rating input score 11; 11th percentile among comparable filings
- Officer compensation ratio: 4.1%; rating input score 25; 25th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 17.7% per year; rating input score 100; 92nd percentile among comparable filings
- Asset growth: 7.5% per year; rating input score 100; 55th percentile among comparable filings
Details
- What they do: 4 programs and campaigns described on the official site
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 9 of 9 board members independent · 6 of 9 filing controls reported
- Programs: 2 filed program accomplishments
- Leadership: top reported pay $876K · 25 people listed · 3 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $6.5M reported
- Consistency: 10 of 11 current checks pass · 1 finding to review
- Schedules: 5 filed schedules · includes grants, executive pay, and related organizations
- Filing history: 4 filing years from 2021 to 2024
- Contacts: How to reach this organization
- Money network: 12 filed money-flow records
- Related organizations: 4 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.
- Review — Transparency & Controls: Grant itemization coverage scored 52/100.
- Review — Accountability: Governance controls: 3 of 9 not reported.
- High — Transparency & Controls: Related-party transparency scored 0/100.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
- Review — Sustainability: Operating margin scored 59/100.
- High — Sustainability: Liabilities to assets ratio scored 11/100.
- High — Sustainability: Officer compensation ratio scored 25/100.