Owosso Columbus Credit Union Credit Unions Chartered In Michigan

Nonprofit profile at a glance

EIN
381857035
IRS 990 coverage
2010–2014
Forms available
Form 990 2014
Location
Owosso, MI, USA
Phone
9897232243
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Public, Societal Benefit

Reported finances

Revenue
$279,913
Expenses
$268,480
Assets
$8,339,100
Liabilities
$7,452,034

Source: IRS Form 990. Selected filing: tax year 2014. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • Suzanne Hutto (CEO/Manager/TREASURER)

Highest reported compensation

  • Suzanne Hutto (CEO/Manager/TREASURER): $42,500 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2014. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The Owosso Columbus Credit Union is a Michigan State-Chartered Credit Union. It provides competitive deposit and loan products to the membership base according to the Michigan Credit Union Act.

What it reported doing in 2014

Provide competitive deposit and loan products to the membership base.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 90
  • Accountability: 63
  • Sustainability: 58
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 96.8%; rating input score 97
  • Program expense ratio: 100%; rating input score 100
  • 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 1 of 8 controls in place; rating input score 12
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 4.1%; rating input score 53; 53rd percentile among comparable filings
  • Total-asset coverage ratio: 31.06; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0.89; rating input score 8; 8th percentile among comparable filings
  • Officer compensation ratio: 15.8%; rating input score 26; 26th percentile among comparable filings

Growth

  • Program expense growth: 2% per year; rating input score 100; 49th percentile among comparable filings
  • Revenue growth: 5.7% per year; rating input score 100; 61st percentile among comparable filings
  • Asset growth: 5.3% per year; rating input score 100; 59th percentile among comparable filings

Details

  • Where the money goes: 96.8% of revenue deployed · 100% of spending went to programs
  • Governance: 16 of 16 board members independent · 1 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $226K in reported program spending
  • Leadership: top reported pay $42K · 8 people listed
  • Consistency: 18 of 18 current checks pass
  • Schedules: 1 filed schedules
  • Filing history: 5 filing years from 2010 to 2014
  • 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 — Accountability: Governance controls: 6 of 7 not reported.
  • Review — Sustainability: Operating margin scored 53/100.
  • High — Sustainability: Liabilities to assets ratio scored 8/100.
  • High — Sustainability: Officer compensation ratio scored 26/100.