Michigan Credit Union League
Nonprofit profile at a glance
- EIN
- 380826778
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Royal Oak, MI, USA
- Phone
- 7347933420
- Rating confidence
- Limited
Reported finances
- Revenue
- $4,518,576
- Expenses
- $5,742,429
- Assets
- $91,756,734
- Liabilities
- $1,059,292
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
21 people listed
Executive titles in this filing
- PATRICIA CORKERY (PRESIDENT/CEO)
Highest reported compensation
- PATRICIA CORKERY (PRESIDENT/CEO): $577,637 total reported compensation
- WENDY VADNAIS (CFO): $291,271 total reported compensation
- KIERAN MARION (EVP ADVOCACY): $243,281 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Strengthen the credit union community and its image by providing advocacy on important issues, coordinating cooperative initiatives and by providing high-quality solutions that help credit unions succeed and enrich the lives of their members.
What it reported doing in 2024
Offer support and provide advocacy to affiliated credit unions.
Operating model
- Revenue model
- Earned-program. 80% 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: 83
- Accountability: 95
- Sustainability: 42
- Growth: 60
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: 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: Limited
- Major donor itemization: Limited
- Related-party transparency: Yes; rating input score 100
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 8 of 9 controls in place; rating input score 89
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -27.1%; rating input score 5; 5th percentile among comparable filings
- Total-asset coverage ratio: 15.98; rating input score 94; 94th percentile among comparable filings
- Liabilities to assets ratio: 0.01; rating input score 85; 85th percentile among comparable filings
- Officer compensation ratio: 18.6%; rating input score 14; 14th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 1.5% per year; rating input score 100; 18th percentile among comparable filings
- Asset growth: 3.1% per year; rating input score 100; 25th percentile among comparable filings
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 17 of 17 board members independent · 8 of 9 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $578K · 21 people listed · 3 of 6 pay-setting controls reported
- Highest-paid contractors: 2 contractors listed · $249K reported
- Consistency: 13 of 13 current checks pass
- Schedules: 5 filed schedules · includes executive pay and related organizations
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 3 filed money-flow records
- Related organizations: 5 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.
- 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 — Sustainability: Operating margin scored 5/100.
- Review — Accountability: Governance controls: Other executive compensation review process not reported.
- High — Sustainability: Officer compensation ratio scored 14/100.