Midwest Credit Union
Nonprofit profile at a glance
- EIN
- 391104326
- IRS 990 coverage
- 2010–2012
- Forms available
- Form 990 2012
- Location
- Sheboygan, WI, USA
- Rating confidence
- Limited
- Sector
- Credit Unions
Reported finances
- Revenue
- $346,293
- Expenses
- $488,261
- Assets
- $3,504,517
- Liabilities
- $2,827,452
Source: IRS Form 990. Selected filing: tax year 2012. Amounts in USD.
Leadership & pay
7 people listed
Source: IRS Form 990. Selected filing: tax year 2012. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
We have deposit, transaction, and investment accounts with 1077 members at 12/31. During 2012, we opened 34 new deposit, transaction and investment accounts.
What it reported doing in 2012
We have deposit, transaction, and investment accounts with 1077 members at 12/31. During 2012, we opened 34 new deposit, transaction and investment accounts.
Operating model
- Revenue model
- Other-operating. 98% 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
- 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: 100
- Accountability: 84
- Sustainability: 34
- Growth: 40
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; 60th 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: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: NotApplicable
- Other executive compensation review process: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: -41%; rating input score 6; 6th percentile among comparable filings
- Total-asset coverage ratio: 7.18; rating input score 85; 85th percentile among comparable filings
- Liabilities to assets ratio: 0.81; rating input score 10; 10th percentile among comparable filings
- Officer compensation ratio: 7.7%; rating input score 40; 40th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 22.8% per year; rating input score 100; 85th percentile among comparable filings
- Asset growth: -6.4% per year; rating input score 0; 22nd percentile among comparable filings
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 5 of 5 board members independent · 5 of 8 filing controls reported
- Programs: 2 filed program accomplishments
- Leadership: top reported pay $25K · 7 people listed
- Consistency: 10 of 10 current checks pass
- Schedules: 2 filed schedules
- Filing history: 3 filing years from 2010 to 2012
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Review — Accountability: Governance controls: 2 of 7 not reported.
- High — Sustainability: Operating margin scored 6/100.
- High — Growth: Asset growth scored 0/100.
- High — Sustainability: Liabilities to assets ratio scored 10/100.
- Moderate — Sustainability: Officer compensation ratio scored 40/100.