New York Credit Union Foundation
Nonprofit profile at a glance
- EIN
- 161527073
- IRS 990 coverage
- 2011–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024
- Location
- Albany, NY, US
- Phone
- 800.342.9835, ext. 8546
- Rating
- 71
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Community Service Clubs
Reported finances
- Revenue
- $321,776
- Expenses
- $256,251
- Assets
- $1,238,380
- Liabilities
- $16,249
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
18 people listed
Executive titles in this filing
- WILLIAM MELLIN (PRESIDENT / CEO)
Highest reported compensation
- WILLIAM MELLIN (PRESIDENT / CEO): $613,513 total reported compensation
- EDWARD KOVALEFSKY (CHIEF FINANCIAL OFFICER): $222,979 total reported compensation
- CHRISTOPHER PAJAK (COO - ASSOCIATION SERVICES): $208,300 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Positively impacting New Yorkers through credit unions.
What it reported doing in 2024
Grantmaking programs include professional development grants, financial fitness grants, and smart money grants. Professional development grants provide funds for the education and training of credit union employees and volunteers. Financial fitness grants help fund general operating needs of credit unions that will ultimately help improve member service. Smart money grants help fund programs and services that promote financial literacy and independence.
Operating model
- Revenue model
- Donor-supported. 74% of the money available for current operations came from contributions and gifts.
- Distribution model
- Grant intermediary. The nonprofit sent 71% of its reported program spending out as grants.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and most voting board members are independent. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and the filing does not identify recipients for some grant dollars.
Rating breakdown
- Financial Efficiency: 82
- Transparency & Controls: 47
- Accountability: 87
- Sustainability: 67
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 77.9%; rating input score 78
- Program expense ratio: 92.9%; rating input score 93
- Fundraising efficiency: $34.4 raised per $1 spent on fundraising; rating input score 70; 70th percentile among comparable filings
Transparency & Controls
- Consistency checks: 93.3%; rating input score 93; 26th percentile among comparable filings
- Pay-setting controls: 0 of 6 controls in place; rating input score 0
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Missing
- Foreign activity oversight: Limited
- Grant itemization coverage: 15.3%; rating input score 15; 38th percentile among comparable filings
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 93.8%; rating input score 94; 26th 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: Fail
- Other executive compensation review process: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 20.4%; rating input score 74; 74th percentile among comparable filings
- Total-asset coverage ratio: 4.83; rating input score 79; 79th percentile among comparable filings
- Liabilities to assets ratio: 0.01; rating input score 43; 43rd percentile among comparable filings
- Officer compensation ratio: 5.6%; rating input score 32; 32nd percentile among comparable filings
Growth
- Program expense growth: 3.8% per year; rating input score 100; 49th percentile among comparable filings
- Revenue growth: -1.6% per year; rating input score 0; 18th percentile among comparable filings
- Asset growth: 2.5% per year; rating input score 100; 36th percentile among comparable filings
Details
- What they do: 3 programs and campaigns described on the official site · 1 operating location identified
- Where the money goes: 77.9% of revenue deployed · 92.9% of spending went to programs
- Governance: 15 of 16 board members independent · 7 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $238K in reported program spending
- Leadership: top reported pay $614K · 18 people listed · 0 of 6 pay-setting controls reported
- Consistency: 20 of 21 current checks pass · 1 finding to review
- Schedules: 7 filed schedules · includes grants and executive pay
- Filing history: 13 filing years from 2011 to 2024
- Contacts: How to reach this organization
- Money network: 4 filed money-flow records
- Related organizations: 9 filed related-organization links
- 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 — Transparency & Controls: Pay-setting controls scored 0/100.
- High — Transparency & Controls: Grant itemization coverage scored 15/100.
- High — Growth: Revenue growth scored 0/100.
- Review — Accountability: Governance controls: 2 of 9 not reported.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
- Moderate — Sustainability: Officer compensation ratio scored 32/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 43/100.