Midwest Credit Union

Nonprofit profile at a glance

EIN
436034138
IRS 990 coverage
2010–2017
Forms available
Form 990 2017
Location
Florissant, MO, USA
Phone
3148372500
Rating confidence
Limited
Sector
Credit Unions

Official website

Reported finances

Revenue
$576,690
Expenses
$677,526
Assets
$10,221,709
Liabilities
$8,588,061

Source: IRS Form 990. Selected filing: tax year 2017. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • SOOKIE CUNNINGHAM (PRESIDENT)

Highest reported compensation

  • SOOKIE CUNNINGHAM (PRESIDENT): $115,330 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2017. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide high quality financial services for our members/owners, enhancing their financial well-being while maintaining the financial strength of the credit union.

What it reported doing in 2017

Provides a source of credit to members at a fair and reasonable rate of interest. As of december 31, 2017, there were 740 loans outstanding totaling $3,994,814.

Operating model

Revenue model
Earned-program. 89% 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: 90
  • Accountability: 74
  • Sustainability: 35
  • Growth: 0

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; 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; 63rd percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -17.5%; rating input score 8; 8th percentile among comparable filings
  • Total-asset coverage ratio: 15.09; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 0.84; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 17%; rating input score 17; 17th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -1.9% per year; rating input score 0; 17th percentile among comparable filings
  • Asset growth: -1.7% per year; rating input score 0; 23rd percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 7 of 7 board members independent · 3 of 8 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $115K · 8 people listed
  • Consistency: 10 of 10 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 8 filing years from 2010 to 2017
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 8/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.
  • High — Sustainability: Officer compensation ratio scored 17/100.