Mill City Credit Union
Nonprofit profile at a glance
- EIN
- 410280115
- IRS 990 coverage
- 2015–2018
- Forms available
- Form 990 2018
- Location
- Minnetonka, MN, USA
- Phone
- 7637646900
- Rating confidence
- Limited
- Sector
- Financial Institutions
Reported finances
- Revenue
- $14,562,562
- Expenses
- $11,914,540
- Assets
- $0
- Liabilities
- $0
Source: IRS Form 990. Selected filing: tax year 2018. Amounts in USD.
Leadership & pay
15 people listed
Executive titles in this filing
- KENT GREFF (PRESIDENT/CEO)
- DANIELLE ARTHUR (VICE PRESIDENT OPERATIONS)
- MITCH MYRE (VICE PRESIDENT LENDING)
- ROBIN DOWNING (VICE PRESIDENT HUMAN RESOU)
- MISSY MOUND (VICE PRESIDENT MKTG & BUS)
Highest reported compensation
- KENT GREFF (PRESIDENT/CEO): $496,769 total reported compensation
- SHIRLEY NEUKOM (VP/CFO): $208,744 total reported compensation
- MITCH MYRE (VICE PRESIDENT LENDING): $166,183 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2018. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Our mission at mill city credit union is to help our members achieve their financial goals by providing exceptional value through innovative products, personalized services, and secure growth opportunities.
What it reported doing in 2018
The credit union provided access to approximately 22,304 members through the use of branches, phone/call center, atms, online banking and mobile banking channels.
Operating model
- Revenue model
- Earned-program. 86% 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: 66
- Accountability: 91
- Sustainability: 42
- 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; 62nd percentile among comparable filings
- Pay-setting controls: 1 of 6 controls in place; rating input score 17
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Pass
- Board or committee approval: Missing
- 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; 67th percentile among comparable filings
- Governance controls: 7 of 9 controls in place; rating input score 78
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 18.2%; rating input score 85; 85th percentile among comparable filings
- Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
- Liabilities to assets ratio: Limited
- Officer compensation ratio: 10.9%; rating input score 13; 13th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 7.2% per year; rating input score 100; 68th percentile among comparable filings
- Asset growth: -38.4% per year; rating input score 0; 0th percentile among comparable filings
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 9 of 9 board members independent · 7 of 9 filing controls reported
- Programs: 3 filed program accomplishments
- Leadership: top reported pay $497K · 15 people listed · 1 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $9M reported
- Consistency: 8 of 8 current checks pass
- Schedules: 4 filed schedules · includes executive pay
- Filing history: 4 filing years from 2015 to 2018
- Contacts: How to reach this organization
- Money network: 6 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.
- High — Growth: Asset growth scored 0/100.
- High — Sustainability: Total-asset coverage ratio scored 0/100.
- Review — Accountability: Governance controls: Independent financial-statement audit not reported.
- High — Sustainability: Officer compensation ratio scored 13/100.