Madco Credit Union

Nonprofit profile at a glance

EIN
371118625
IRS 990 coverage
2010–2015
Forms available
Form 990 2015
Location
Edwardsville, IL, USA
Phone
6186565735
Rating
47
Verdict
MIXED
Rating confidence
Moderate
Sector
Credit Unions

Reported finances

Revenue
$56,874
Expenses
$64,927
Assets
$1,469,484
Liabilities
$1,271

Source: IRS Form 990. Selected filing: tax year 2015. Amounts in USD.

Leadership & pay

9 people listed

Highest reported compensation

  • Marcia Prater (Treasurer): $31,005 total reported compensation
  • Wendy Leonard (Director): $4,210 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2015. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The credit union operated without profit for mutual purposes. Providing members with share accounts and loans.

What it reported doing in 2015

Received deposits and issued Christmas Club checks to 135 members.

Operating model

Revenue model
Other-operating. 95% of the money available for current operations came from other operating 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

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: 90
  • Accountability: 82
  • Sustainability: 50
  • Growth: 20

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; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • 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; 64th percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -14.2%; rating input score 43; 43rd percentile among comparable filings
  • Total-asset coverage ratio: 22.63; rating input score 83; 83rd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 41; 41st percentile among comparable filings
  • Officer compensation ratio: 54.2%; rating input score 6; 6th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -4.4% per year; rating input score 0; 50th percentile among comparable filings
  • Asset growth: 1.5% per year; rating input score 100; 59th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 9 of 9 board members independent · 5 of 9 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $31K · 9 people listed
  • Consistency: 9 of 10 current checks pass · 1 finding to review
  • Schedules: 2 filed schedules
  • Filing history: 6 filing years from 2010 to 2015
  • Contacts: How to reach this organization
  • Money network: 9 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 — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Moderate — Sustainability: Operating margin scored 43/100.
  • High — Sustainability: Officer compensation ratio scored 6/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 41/100.