State Chartered Credit Union
Nonprofit profile at a glance
- EIN
- 566055648
- IRS 990 coverage
- 2010–2012
- Forms available
- Form 990 2012
- Location
- Asheville, NC, USA
- Phone
- 8282589845
- Rating confidence
- Limited
- Sector
- Credit Unions
Reported finances
- Revenue
- $218,009
- Expenses
- $211,042
- Assets
- $4,126,433
- Liabilities
- $3,811,844
Source: IRS Form 990. Selected filing: tax year 2012. Amounts in USD.
Leadership & pay
9 people listed
Source: IRS Form 990. Selected filing: tax year 2012. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To provide loans and share accounts
What it reported doing in 2012
Total # loans: 323 total amount of loans: $2,128,052 total members: 1,142 total amount of shares: $3,810,160
Operating model
- Revenue model
- Earned-program. 100% 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: 100
- Accountability: 74
- Sustainability: 57
- Growth: 0
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; 60th 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; 63rd percentile among comparable filings
- Governance controls: 3 of 9 controls in place; rating input score 38
- Conflict-of-interest policy: Fail
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: Limited
- Other executive compensation review process: Fail
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 3.2%; rating input score 53; 53rd percentile among comparable filings
- Total-asset coverage ratio: 19.55; rating input score 95; 95th percentile among comparable filings
- Liabilities to assets ratio: 0.92; rating input score 9; 9th percentile among comparable filings
- Officer compensation ratio: 15.3%; rating input score 29; 29th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: -0% per year; rating input score 0; 42nd percentile among comparable filings
- Asset growth: -0.3% per year; rating input score 0; 43rd percentile among comparable filings
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 8 of 8 board members independent · 3 of 9 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $32K · 9 people listed
- Consistency: 10 of 10 current checks pass
- Schedules: 2 filed schedules
- Filing history: 3 filing years from 2010 to 2012
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Moderate — Accountability: Governance controls: 5 of 8 not reported.
- High — Growth: Revenue growth scored 0/100.
- High — Growth: Asset growth scored 0/100.
- Review — Sustainability: Operating margin scored 53/100.
- High — Sustainability: Liabilities to assets ratio scored 9/100.
- High — Sustainability: Officer compensation ratio scored 29/100.