Newport News Municipal Employees Credit Union

Nonprofit profile at a glance

EIN
540580175
IRS 990 coverage
2010–2012
Forms available
Form 990 2012
Location
Newport News, VA, USA
Phone
7572491003
Rating confidence
Limited
Sector
Financial Institutions

Official website

Reported finances

Revenue
$1,797,221
Expenses
$1,778,577
Assets
$42,948,674
Liabilities
$39,110,354

Source: IRS Form 990. Selected filing: tax year 2012. Amounts in USD.

Leadership & pay

10 people listed

Source: IRS Form 990. Selected filing: tax year 2012. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Newport News Municipal Employee Credit Union, as a member owned and directed financial institution is dedicated to serving the present and future financial needs of our members, through cost effective financial services consistent with co-operative principles, applicable legislation and sound management.

What it reported doing in 2012

The association did not participate in any program changes

Operating model

Revenue model
Other-operating. 80% 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

- 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: 84
  • Sustainability: 52
  • Growth: 20

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; 60th 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: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 1%; rating input score 44; 44th percentile among comparable filings
  • Total-asset coverage ratio: 24.15; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 0.91; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 18.3%; rating input score 14; 14th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -5.8% per year; rating input score 0; 21st percentile among comparable filings
  • Asset growth: 2.7% per year; rating input score 100; 49th 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 · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $141K · 10 people listed
  • Consistency: 12 of 12 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 3 filing years from 2010 to 2012
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • Moderate — Sustainability: Operating margin scored 44/100.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.
  • High — Sustainability: Officer compensation ratio scored 14/100.