Post Office Credit Union

Nonprofit profile at a glance

EIN
390736798
IRS 990 coverage
2010–2020
Forms available
Form 990 2020
Location
Madison, WI, USA
Phone
6084179211
Rating
44
Verdict
MIXED
Rating confidence
Moderate
Sector
Credit Unions

Official website

Reported finances

Revenue
$130,281
Expenses
$1,185,749
Assets
$0
Liabilities
$0

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

Leadership & pay

9 people listed

Executive titles in this filing

  • KEVIN YAEGER (PRESIDENT/CE)

Highest reported compensation

  • KEVIN YAEGER (PRESIDENT/CE): $115,737 total reported compensation
  • TAMMIE STUNTEBECK (VICE PRES): $53,483 total reported compensation

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

Overview

Mission

Post office credit union is a member-owned, nonprofit financial cooperative, whose purpose is to provide friendly, convenient and competitive family financial services to members while maintaining financial integrity.

What it reported doing in 2020

The credit union has several types of loan programs available for our members. We funded 55 new loans during 2021 prior to merger. As of 03/31/2021 we had 1,249 loans to our members prior to our merger.

Operating model

Revenue model
Earned-program. 79% 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

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: 86
  • Sustainability: 4
  • Growth: 0

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 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -810.1%; rating input score 0; 0th 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: 14.3%; rating input score 30; 30th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -7.2% per year; rating input score 0; 13th percentile among comparable filings
  • Asset growth: -6.3% per year; rating input score 0; 10th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 7 of 7 board members independent · 6 of 9 filing controls reported
  • Programs: 2 filed program accomplishments
  • Leadership: top reported pay $116K · 9 people listed
  • Highest-paid contractors: 1 contractor listed · $114K reported
  • Consistency: 7 of 8 current checks pass · 1 finding to review
  • Schedules: 2 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 — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 0/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • Moderate — Sustainability: Officer compensation ratio scored 30/100.