Malden City Employees Credit Union

Nonprofit profile at a glance

EIN
046064443
IRS 990 coverage
2010–2014
Forms available
Form 990 2014
Location
Malden, MA, USA
Phone
7813213480
Rating confidence
Limited
Sector
Credit Unions

Reported finances

Revenue
$324,173
Expenses
$402,389
Assets
$13,715,445
Liabilities
$12,016,227

Source: IRS Form 990. Selected filing: tax year 2014. Amounts in USD.

Leadership & pay

13 people listed

Executive titles in this filing

  • ROBERTA J CONNOLLY (CEO/MANAGER)

Highest reported compensation

  • ROBERTA J CONNOLLY (CEO/MANAGER): $65,000 total reported compensation
  • JODY FAULKNER (DIRECTOR/OPERATIONS): $35,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2014. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The credit union provides cost effective loans and shares, and a varietyof banking services to our members.

What it reported doing in 2014

The credit union has members. The credit union provides deposit andlending services plus other low cost high quality products and services.

Operating model

Revenue model
Cannot be determined from the filing. The filing does not provide enough consistent revenue detail to tell how this nonprofit funds its work.
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: 90
  • Accountability: 84
  • Sustainability: 37
  • 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: 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; 63rd percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: -24.1%; rating input score 11; 11th percentile among comparable filings
  • Total-asset coverage ratio: 34.09; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0.88; rating input score 9; 9th percentile among comparable filings
  • Officer compensation ratio: 24.9%; rating input score 15; 15th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -11.5% per year; rating input score 0; 12th percentile among comparable filings
  • Asset growth: 4.6% per year; rating input score 100; 56th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 11 of 11 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $65K · 13 people listed
  • Consistency: 11 of 11 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 5 filing years from 2010 to 2014
  • Contacts: How to reach this organization
  • Money network: 7 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Operating margin scored 11/100.
  • High — Sustainability: Liabilities to assets ratio scored 9/100.
  • High — Sustainability: Officer compensation ratio scored 15/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.