SLC Credit Union
Nonprofit profile at a glance
- EIN
- 381550540
- IRS 990 coverage
- 2011–2013
- Forms available
- Form 990 2013
- Location
- Sterling Heights, MI, USA
- Phone
- 5862473100
- Rating
- 44
- Verdict
- MIXED
- Rating confidence
- Moderate
- Sector
- Credit Unions
Reported finances
- Revenue
- $243,710
- Expenses
- $252,915
- Assets
- $6,907,670
- Liabilities
- $6,107,297
Source: IRS Form 990. Selected filing: tax year 2013. Amounts in USD.
Leadership & pay
7 people listed
Executive titles in this filing
- Annette Swidwinski (Secretary/CEO)
Highest reported compensation
- Annette Swidwinski (Secretary/CEO): $50,426 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2013. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To encourage thrift among its members, provide a variety of financial services to its members and provide an opportunity for its members to use and control their own money on a democratic basis in order to improve their economic and social condition.
What it reported doing in 2013
To provide 995 members with Regular and Green Shares, Share Draft, Certificate of Deposit and IRA accounts totaling 1,428.
Operating model
- Revenue model
- Other-operating. 80% 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: 71
- Sustainability: 47
- 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: 85.7%; rating input score 86; 22nd percentile among comparable filings
- Governance controls: 4 of 8 controls in place; rating input score 50
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: -3.8%; rating input score 32; 32nd percentile among comparable filings
- Total-asset coverage ratio: 27.31; rating input score 97; 97th percentile among comparable filings
- Liabilities to assets ratio: 0.88; rating input score 9; 9th percentile among comparable filings
- Officer compensation ratio: 19.9%; rating input score 21; 21st percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: -14.1% per year; rating input score 0; 12th percentile among comparable filings
- Asset growth: -1.5% per year; rating input score 0; 35th percentile among comparable filings
Details
- Where the money goes: 0% of revenue deployed · 0% of spending went to programs
- Governance: 6 of 7 board members independent · 4 of 8 filing controls reported
- Programs: 3 filed program accomplishments
- Leadership: top reported pay $50K · 7 people listed
- Consistency: 12 of 13 current checks pass · 1 finding to review
- Schedules: 2 filed schedules
- Filing history: 3 filing years from 2011 to 2013
- 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.
Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.
- High — Financial Efficiency: Mission deployment rate scored 0/100.
- High — Financial Efficiency: Program expense ratio scored 0/100.
- Review — Accountability: Governance controls: 3 of 7 not reported.
- High — Growth: Revenue growth scored 0/100.
- Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
- High — Growth: Asset growth scored 0/100.
- Moderate — Sustainability: Operating margin scored 32/100.
- High — Sustainability: Liabilities to assets ratio scored 9/100.
- High — Sustainability: Officer compensation ratio scored 21/100.
- High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.