State Chartered Credit Union Natchez-adams Educators Credit Union

Nonprofit profile at a glance

EIN
646023786
IRS 990 coverage
2010–2016
Forms available
Form 990 2016
Location
Natchez, MS, USA
Phone
6014452851
Rating confidence
Limited

Reported finances

Revenue
$83,480
Expenses
$89,728
Assets
$1,487,995
Liabilities
$928,652

Source: IRS Form 990. Selected filing: tax year 2016. Amounts in USD.

Leadership & pay

13 people listed

Executive titles in this filing

  • TERESA FORD (MANAGER/CEO)

Highest reported compensation

  • TERESA FORD (MANAGER/CEO): $18,900 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2016. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To promote thrift, to issue shares or maintain deposits as set forth in the by-laws of said credit union, to make loans to its members at reasonable rates of interest, to invest any surplus not required for loans to members in the way and manner provided by law, to exercise those functions described in the laws of the state of Mississippi and the rules and regulations of the department of banking and consumer finance.

What it reported doing in 2016

Offered and provided personal and car loans to members which are employees of the natchez adams school district. Offered to all members of the credit union savings accounts. Dividends on those savings were paid semi-annually.surplus money not required for loans or dividend payments was invested in local banks.

Operating model

Revenue model
Earned-program. 84% 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: 90
  • Accountability: 84
  • Sustainability: 49
  • 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; 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: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • 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: -7.5%; rating input score 49; 49th percentile among comparable filings
  • Total-asset coverage ratio: 16.58; rating input score 77; 77th percentile among comparable filings
  • Liabilities to assets ratio: 0.62; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 21.1%; rating input score 14; 14th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -6.8% per year; rating input score 0; 44th percentile among comparable filings
  • Asset growth: -0.5% per year; rating input score 0; 46th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 7 of 7 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $19K · 13 people listed
  • Consistency: 10 of 10 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 5 filing years from 2010 to 2016
  • Contacts: How to reach this organization
  • Money network: 10 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.

  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 49/100.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.
  • High — Sustainability: Officer compensation ratio scored 14/100.