SPCO Credit Union

Nonprofit profile at a glance

EIN
746106699
IRS 990 coverage
2011–2023
Forms available
Form 990 2023
Location
Houston, TX, USA
Phone
7134558586
Rating
86
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$2,352,949
Expenses
$2,497,191
Assets
$38,877,794
Liabilities
$35,176,103

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • Tim Adams (CEO)

Highest reported compensation

  • Tim Adams (CEO): $140,100 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Our mission is to be the trusted partner in each members' financial life.

What it reported doing in 2023

SPCO offers all types of loan products at competetive rates

Operating model

Revenue model
Earned-program. 98% of the money available for current operations came from fees and other program revenue.
Distribution model
Hybrid. The nonprofit split its reported program spending across 77% for direct work, and 23% for member benefits.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 90
  • Accountability: 79
  • Sustainability: 44
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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; 64th 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: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -6.1%; rating input score 20; 20th percentile among comparable filings
  • Total-asset coverage ratio: 15.57; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0.9; rating input score 8; 8th percentile among comparable filings
  • Officer compensation ratio: 5.6%; rating input score 48; 48th percentile among comparable filings

Growth

  • Program expense growth: 1.2% per year; rating input score 100; 21st percentile among comparable filings
  • Revenue growth: 2.1% per year; rating input score 100; 23rd percentile among comparable filings
  • Asset growth: 1.5% per year; rating input score 100; 18th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 7 of 7 board members independent · 4 of 8 filing controls reported
  • Programs: 2 filed program accomplishments
  • Leadership: top reported pay $140K · 6 people listed
  • Consistency: 28 of 28 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 13 filing years from 2011 to 2023
  • Contacts: How to reach this organization
  • Money network: 6 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.

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Sustainability: Operating margin scored 20/100.
  • High — Sustainability: Liabilities to assets ratio scored 8/100.
  • Moderate — Sustainability: Officer compensation ratio scored 48/100.