New Horizons Credit Union Inc

Nonprofit profile at a glance

EIN
316030845
IRS 990 coverage
2010–2020
Forms available
Form 990 2020
Location
Cincinnati, OH, USA
Phone
5135626610
Rating
49
Verdict
MIXED
Rating confidence
Moderate
Sector
Credit Unions

Official website

Reported finances

Revenue
$2,195,839
Expenses
$2,451,900
Assets
$41,257,610
Liabilities
$38,572,500

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • TERRI VAN ANTWERP (PRESIDENT)

Highest reported compensation

  • TERRI VAN ANTWERP (PRESIDENT): $95,027 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Our mission it to tailor our products and services to the individual needs of our members by providing the best member service and guidance on financial planning for our member's financial success. We strive to be the first place our members turn if they have a financial question or need. We stand out in the financial industry, by always following one simple principle, "how can we help you achieve your financial success?"

What it reported doing in 2020

Labor and employee benefit costs incurred providing savings and deposit services, originating new loans and servicing the loan portfolio for members.

Operating model

Revenue model
Earned-program. 98% 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

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: 90
  • Sustainability: 39
  • Growth: 40

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; 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; 64th percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -11.7%; rating input score 8; 8th percentile among comparable filings
  • Total-asset coverage ratio: 16.83; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0.93; rating input score 7; 7th percentile among comparable filings
  • Officer compensation ratio: 3.9%; rating input score 61; 61st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 0.1% per year; rating input score 100; 19th percentile among comparable filings
  • Asset growth: -0.7% per year; rating input score 0; 15th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 5 of 5 board members independent · 6 of 8 filing controls reported
  • Programs: 2 filed program accomplishments
  • Leadership: top reported pay $95K · 6 people listed
  • Consistency: 13 of 14 current checks pass · 1 finding to review
  • Schedules: 2 filed schedules
  • Filing history: 10 filing years from 2010 to 2020
  • 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.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Sustainability: Operating margin scored 8/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • High — Growth: Asset growth scored 0/100.
  • Review — Accountability: Governance controls: Whistleblower policy not reported.
  • High — Sustainability: Liabilities to assets ratio scored 7/100.