Pollock Employees Credit Union

Nonprofit profile at a glance

EIN
750500763
IRS 990 coverage
2020–2021
Forms available
Form 990 2021
Location
Dallas, TX, USA
Phone
2146791405
Rating
48
Verdict
MIXED
Rating confidence
Moderate

Reported finances

Revenue
$221,114
Expenses
$243,337
Assets
$5,101,604
Liabilities
$4,550,475

Source: IRS Form 990. Selected filing: tax year 2021. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • Gene Pittman (President)

Highest reported compensation

  • Gene Pittman (President): $43,496 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2021. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Pollock Employees Credit Union is a cooperative thrift institution and is a member of the Texas Credit Union Department and National Credit Union Association. It is also is a member of the Texas Credit Union Department and National Credit Union Association. It is also a member of the Cornerstone Credit Union League. It offers share accounts, share draft accounts, and consumer loans. It is a provider of credit union financial services.

What it reported doing in 2021

Share Draft Accounts/ ATM/ Debit Cards Pollock Employees Credit Union provides Share Draft accounts with various features for its members. Share Draft accounts (checking accounts) for students have no monthly charges. Adults, ages 62 and older, have no monthly charge. Regular accounts, with a minimal required balance of only $300, also have no monthly charge. Accounts that do have a monthly charge only pay a small fee. Dividends are paid monthly on the Share Drafts accounts. Additionally, the credit union extends the reach of these accounts to all members with free debit cards and low cost ACH access.

Operating model

Revenue model
Other-operating. 93% 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

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 90
  • Accountability: 90
  • Sustainability: 40
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • 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: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -10.1%; rating input score 18; 18th percentile among comparable filings
  • Total-asset coverage ratio: 20.97; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 0.89; rating input score 6; 6th percentile among comparable filings
  • Officer compensation ratio: 17.9%; rating input score 23; 23rd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -8.4% per year; rating input score 0; 10th percentile among comparable filings
  • Asset growth: 2.8% per year; rating input score 100; 38th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 9 of 9 board members independent · 6 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $243K in reported program spending
  • Leadership: top reported pay $43K · 10 people listed
  • Consistency: 11 of 12 current checks pass · 1 finding to review
  • Schedules: 2 filed schedules
  • Filing history: 2 filing years from 2020 to 2021
  • 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 — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Sustainability: Operating margin scored 18/100.
  • High — Sustainability: Liabilities to assets ratio scored 6/100.
  • High — Sustainability: Officer compensation ratio scored 23/100.