Shoreline Credit Union
Nonprofit profile at a glance
- EIN
- 390795376
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Manitowoc, WI, USA
- Phone
- 9204823700
- Rating confidence
- Limited
- Sector
- Credit Unions
Reported finances
- Revenue
- $7,272,021
- Expenses
- $6,336,536
- Assets
- $128,507,145
- Liabilities
- $117,600,896
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
11 people listed
Executive titles in this filing
- NATHAN GROSSENBACH (PRESIDENT/CEO)
Highest reported compensation
- NATHAN GROSSENBACH (PRESIDENT/CEO): $246,940 total reported compensation
- STEVEN HAENSGEN (CFO/EVP): $114,797 total reported compensation
- ANDREA SCHMITT (CLO): $109,719 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Our mission is to help our members achieve financial success. We achieve this by providing members with a safe place to save and borrow at reasonable rates. We excel at this by remaining committed to employing an honest, knowledgeable staff whose focus is on one member at a time.
What it reported doing in 2024
Holding deposits for and making loans to members.
Operating model
- Revenue model
- Earned-program. 76% 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
- 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: 93
- Accountability: 91
- Sustainability: 65
- Growth: 100
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: 6 of 6 controls in place; rating input score 100
- Compensation committee: Pass
- Independent consultant: Pass
- Other Form 990s reviewed: Pass
- Written employment contract: Pass
- Compensation survey or study: Pass
- 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: 7 of 9 controls in place; rating input score 78
- 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: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 12.9%; rating input score 68; 68th percentile among comparable filings
- Total-asset coverage ratio: 20.28; rating input score 96; 96th percentile among comparable filings
- Liabilities to assets ratio: 0.92; rating input score 7; 7th percentile among comparable filings
- Officer compensation ratio: 9.2%; rating input score 33; 33rd percentile among comparable filings
Growth
- Program expense growth: 75% per year; rating input score 100; 98th percentile among comparable filings
- Revenue growth: 0.4% per year; rating input score 100; 13th percentile among comparable filings
- Asset growth: 1.4% per year; rating input score 100; 17th percentile among comparable filings
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 7 of 7 board members independent · 7 of 9 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $247K · 11 people listed · 6 of 6 pay-setting controls reported
- Highest-paid contractors: 2 contractors listed · $704K reported
- Consistency: 10 of 10 current checks pass
- Schedules: 4 filed schedules · includes executive pay
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 5 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.
- Review — Accountability: Governance controls: Independent financial-statement audit not reported.
- High — Sustainability: Liabilities to assets ratio scored 7/100.
- Moderate — Sustainability: Officer compensation ratio scored 33/100.