Options Credit Union

Nonprofit profile at a glance

EIN
840818111
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Littleton, CO, USA
Phone
3038601117
Rating confidence
Limited

Official website

Reported finances

Revenue
$356,928
Expenses
$366,462
Assets
$4,834,333
Liabilities
$4,396,200

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • SHERRY ESPINOZA (CEO)

Highest reported compensation

  • SHERRY ESPINOZA (CEO): $87,216 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Options credit union (formally legal community credit union of Colorado) was founded in 1979 for the purpose of providing an alternative financial service, focusing on personalized customer service, for our community.

What it reported doing in 2024

The credit union is owned by approximately 700 members. The credit union provides financial services to its members, such as consumer lending, mortgage lending, checking, savings, certificate, and ira accounts, atm, debit and credit cards, and other financial services.

Operating model

Revenue model
Earned-program. 96% 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: 90
  • Accountability: 79
  • Sustainability: 45
  • Growth: 60

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; 64th 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; 63rd 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: -2.7%; rating input score 33; 33rd percentile among comparable filings
  • Total-asset coverage ratio: 13.19; rating input score 92; 92nd percentile among comparable filings
  • Liabilities to assets ratio: 0.91; rating input score 6; 6th percentile among comparable filings
  • Officer compensation ratio: 23.8%; rating input score 16; 16th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 0.5% per year; rating input score 100; 26th percentile among comparable filings
  • Asset growth: 2.5% per year; rating input score 100; 35th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 5 of 5 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $87K · 6 people listed
  • Consistency: 10 of 10 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 13 filing years from 2010 to 2024
  • 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.
  • 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.

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • Moderate — Sustainability: Operating margin scored 33/100.
  • High — Sustainability: Liabilities to assets ratio scored 6/100.
  • High — Sustainability: Officer compensation ratio scored 16/100.