Simplicity Credit Union
Nonprofit profile at a glance
- EIN
- 390860994
- IRS 990 coverage
- 2010–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024
- Location
- Marshfield, WI, US
- Phone
- 844-769-2667
- Rating confidence
- Limited
- Sector
- Credit Unions
Reported finances
- Revenue
- $32,520,313
- Expenses
- $29,733,748
- Assets
- $500,121,906
- Liabilities
- $454,269,750
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
14 people listed
Executive titles in this filing
- NICHOLAS FABER (PRESIDENT/CEO)
Highest reported compensation
- JASON BUCHINGER (FINANCIAL ADVISOR): $510,101 total reported compensation
- NICHOLAS FABER (PRESIDENT/CEO): $295,620 total reported compensation
- JAMES NOWAK (CHEIF FINANCIAL OFFICER): $185,423 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
A nonprofit member-owned thrift institution organized to provide financial services to individuals. Operations are primarily related to holding deposit for and making loans to members.
What it reported doing in 2024
Holding deposits for and making loans to members
Operating model
- Revenue model
- Earned-program. 86% 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: 77
- Accountability: 95
- Sustainability: 64
- 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; 62nd percentile among comparable filings
- Pay-setting controls: 3 of 6 controls in place; rating input score 50
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- 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; 66th percentile among comparable filings
- Governance controls: 8 of 9 controls in place; rating input score 89
- 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: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 8.6%; rating input score 64; 64th percentile among comparable filings
- Total-asset coverage ratio: 16.82; rating input score 95; 95th percentile among comparable filings
- Liabilities to assets ratio: 0.91; rating input score 9; 9th percentile among comparable filings
- Officer compensation ratio: 5.7%; rating input score 45; 45th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 9.8% per year; rating input score 100; 73rd percentile among comparable filings
- Asset growth: 8% per year; rating input score 100; 55th percentile among comparable filings
Details
- What they do: 8 programs and campaigns described on the official site · 1 operating location identified
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 6 of 6 board members independent · 8 of 9 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $510K · 14 people listed · 3 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $3.6M reported
- Consistency: 10 of 10 current checks pass
- Schedules: 5 filed schedules · includes executive pay
- Filing history: 13 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 15 filed money-flow records
- Related organizations: 1 filed related-organization link
- 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.
- Review — Accountability: Governance controls: Form 990 shared with the board not reported.
- High — Sustainability: Liabilities to assets ratio scored 9/100.
- Moderate — Sustainability: Officer compensation ratio scored 45/100.