Springfield Firefighters Credit Union

Nonprofit profile at a glance

EIN
370810754
IRS 990 coverage
2010–2025
Forms available
Form 990 2025
Location
Springfield, IL, USA
Phone
2178169034
Rating
81
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$192,097
Expenses
$191,249
Assets
$3,339,289
Liabilities
$2,838,454

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

10 people listed

Highest reported compensation

  • MICHAEL WALTER (TREASURER/MANAGER): $30,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To assist our members in the management of their financial well-being by providing loans, savings accounts and other financial institution services in a friendly and professional manner.

What it reported doing in 2025

Provided consumer lending and received deposits from the credit union membership. The credit union services more than 365 member share type accounts and more than 65 loan type accounts.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

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 revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 90
  • Accountability: 73
  • Sustainability: 48
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 99.3%; rating input score 99
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 90%; rating input score 90; 27th percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: 0.4%; rating input score 37; 37th percentile among comparable filings
  • Total-asset coverage ratio: 17.46; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0.85; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 15.7%; rating input score 22; 22nd percentile among comparable filings

Growth

  • Program expense growth: 1.7% per year; rating input score 100; 36th percentile among comparable filings
  • Revenue growth: -1.2% per year; rating input score 0; 16th percentile among comparable filings
  • Asset growth: -0.1% per year; rating input score 0; 22nd percentile among comparable filings

Details

  • Where the money goes: 99.3% of revenue deployed · 100% of spending went to programs
  • Governance: 9 of 10 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $30K · 10 people listed
  • Consistency: 18 of 18 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 15 filing years from 2010 to 2025
  • 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.

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 37/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.
  • High — Sustainability: Officer compensation ratio scored 22/100.