Pike Teacher's Credit Union

Nonprofit profile at a glance

EIN
237062470
IRS 990 coverage
2010–2020
Forms available
Form 990 2020
Location
Troy, AL, USA
Phone
3346703630
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Credit Unions

Reported finances

Revenue
$135,906
Expenses
$357,739
Assets
$0
Liabilities
$0

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

Leadership & pay

5 people listed

Highest reported compensation

  • GALE H JORDAN (MANAGER): $42,552 total reported compensation
  • HENRY HAISTEN (TREASURER): $12,000 total reported compensation

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

Overview

Mission

The credit union is a cooperative society incorporated for the twofold purpose of promoting thrift amoung its members and creating a source of credit for them at legitimate rates of interest

What it reported doing in 2020

Code of Alabama, sec 5-17-1, a credit union is a cooperative society incorporated for the twofold purpose of promoting thrift among its members and creating a source of credit for them at legitimate rates of interest

Operating model

Revenue model
Earned-program. 75% of the money available for current operations came from fees and other program revenue.
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

SUPPORTED - 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: 89
  • Transparency & Controls: 90
  • Accountability: 40
  • Sustainability: 4
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • 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: 60%; rating input score 60; 15th 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: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -163.2%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 15.2%; rating input score 29; 29th percentile among comparable filings

Growth

  • Program expense growth: 11.2% per year; rating input score 100; 81st percentile among comparable filings
  • Revenue growth: 1% per year; rating input score 100; 42nd percentile among comparable filings
  • Asset growth: -5.6% per year; rating input score 0; 11th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 3 of 5 board members independent · 1 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $358K in reported program spending
  • Leadership: top reported pay $43K · 5 people listed
  • Consistency: 17 of 17 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 11 filing years from 2010 to 2020
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.
  • High — Sustainability: Operating margin scored 1/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 29/100.