Michigan Credit Union Foundation

Nonprofit profile at a glance

EIN
386066911
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Royal Oak, MI, USA
Phone
7347933420
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Credit Unions

Official website

Reported finances

Revenue
$396,924
Expenses
$312,316
Assets
$1,366,786
Liabilities
$8,363

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

Leadership & pay

13 people listed

Executive titles in this filing

  • KYLE GURZYNSKI (PRESIDENT)
  • DAVE BRANDT (VICE PRESIDENT)
  • ANDREA TUCKER (EXECUTIVE DIRECTOR)

Highest reported compensation

  • KIERAN MARION (DIRECTOR): $243,281 total reported compensation
  • ANDREA TUCKER (EXECUTIVE DIRECTOR): $90,590 total reported compensation
  • BETH TROOST (FOUNDATION PROJECT MANAGER THRU 9/24): $37,287 total reported compensation

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

Overview

Mission

Cooperatively empowering credit unions to increase financial well-being by supporting community enrichment, financial education, and credit union development initiatives

What it reported doing in 2024

Provide awards, grants and scholarships to organizations and individuals on behalf of the credit union movement.

Operating model

Revenue model
Donor-supported. 76% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 61% for direct work, and 39% for grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 79
  • Transparency & Controls: 64
  • Accountability: 76
  • Sustainability: 66
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 76.3%; rating input score 76
  • Program expense ratio: 91.1%; rating input score 91
  • Fundraising efficiency: $21.63 raised per $1 spent on fundraising; rating input score 60; 60th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 19th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 76.7%; rating input score 77; 47th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 90%; rating input score 90; 24th percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • 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: Fail

Sustainability

  • Operating margin: 21.3%; rating input score 75; 75th percentile among comparable filings
  • Total-asset coverage ratio: 4.38; rating input score 77; 77th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 49; 49th percentile among comparable filings
  • Officer compensation ratio: 16.7%; rating input score 22; 22nd percentile among comparable filings

Growth

  • Program expense growth: 7.3% per year; rating input score 100; 62nd percentile among comparable filings
  • Revenue growth: 12% per year; rating input score 100; 77th percentile among comparable filings
  • Asset growth: 6% per year; rating input score 100; 51st percentile among comparable filings

Details

  • Where the money goes: 76.3% of revenue deployed · 91.1% of spending went to programs
  • Governance: 9 of 10 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $284K in reported program spending
  • Leadership: top reported pay $243K · 13 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 18 of 19 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • Related organizations: 8 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.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 4 of 9 not reported.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 22/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 49/100.