Muni Employees Credit Union

Nonprofit profile at a glance

EIN
420835748
IRS 990 coverage
2020–2022
Forms available
Form 990 2022
Location
Ottumwa, IA, USA
Phone
6416830659
Rating
44
Verdict
MIXED
Rating confidence
Moderate
Sector
Credit Unions

Reported finances

Revenue
$26,110
Expenses
$26,999
Assets
$660,472
Liabilities
$3,514

Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • Stephanie Nickerson (President)
  • Jeff Box (Vice President)

Highest reported compensation

  • Stephanie Nickerson (President): $10,738 total reported compensation
  • Tifani Young (Teller): $6,562 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To create a source of credit at a fair and reasonable rate of interest, encourage habits of thrift among its members, and provide the opportunity for its members to use and control their savings for their mutual benefit.

What it reported doing in 2022

The credit union makes loans to our members and the members may elect to purchase credit insurance or disability insurance. From the interest earned on loans and dividends earned on our cash plus a percentage of insurance premiums this is our revenue.

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

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 90
  • Accountability: 73
  • Sustainability: 55
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 88.9%; rating input score 89; 27th percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: -3.4%; rating input score 56; 56th percentile among comparable filings
  • Total-asset coverage ratio: 24.46; rating input score 82; 82nd percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 31; 31st percentile among comparable filings
  • Officer compensation ratio: 64.1%; rating input score 5; 5th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -1.4% per year; rating input score 0; 58th percentile among comparable filings
  • Asset growth: -4.5% per year; rating input score 0; 22nd percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 8 of 9 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $11K · 10 people listed
  • Consistency: 10 of 11 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules
  • Filing history: 3 filing years from 2020 to 2022
  • Contacts: How to reach this organization
  • Money network: 8 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 — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Operating margin scored 56/100.
  • High — Sustainability: Officer compensation ratio scored 5/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 31/100.