Rimrock Credit Union

Nonprofit profile at a glance

EIN
810269867
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Billings, MT, USA
Phone
4062483685
Rating confidence
Limited
Sector
Credit Unions

Official website

Reported finances

Revenue
$2,933,062
Expenses
$2,047,952
Assets
$59,507,583
Liabilities
$51,236,858

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

Leadership & pay

10 people listed

Executive titles in this filing

  • JIM KRAFT (PRESIDENT)
  • MARK KOERBER (VICE PRESIDENT)
  • WADE MCFADDEN (CEO)

Highest reported compensation

  • WADE MCFADDEN (CEO): $169,188 total reported compensation
  • BRANDI HICKEY (CLO): $98,821 total reported compensation

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

Overview

Mission

Consumer (member) financial services

What it reported doing in 2024

In the current year the credit union served the following eligible members and their families: - employees of the city of billings, yellowstone county, yellowstone city county health department, Montana-dakota utilities and supervalue- any person having a vehicle licensed or registered in the city of billings or yellowstone county- all public employees in counties adjoining yellowstone county, not specifically eligible in the charter of another credit union. The credit union served 3,374 members with a wide variety of financial services. At year-end they held 1,842 loans for a total of $16,551,551.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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: 66
  • Accountability: 77
  • Sustainability: 72
  • 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; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • 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 9 controls in place; rating input score 44
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 30.2%; rating input score 84; 84th percentile among comparable filings
  • Total-asset coverage ratio: 29.06; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0.86; rating input score 9; 9th percentile among comparable filings
  • Officer compensation ratio: 13.1%; rating input score 22; 22nd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 6.6% per year; rating input score 100; 52nd percentile among comparable filings
  • Asset growth: 4.8% per year; rating input score 100; 34th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 6 of 6 board members independent · 4 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $169K · 10 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 11 of 11 current checks pass
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • 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.
  • 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.

  • Moderate — Accountability: Governance controls: 4 of 8 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 9/100.
  • High — Sustainability: Officer compensation ratio scored 22/100.