Suntide Credit Union

Nonprofit profile at a glance

EIN
741282189
IRS 990 coverage
2014–2014
Forms available
Form 990 2014
Location
Corpus Christi, TX, USA
Phone
3612417100
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Credit Unions

Reported finances

Revenue
$9,328,933
Expenses
$8,748,126
Assets
$89,487,099
Liabilities
$78,806,845

Source: IRS Form 990. Selected filing: tax year 2014. Amounts in USD.

Leadership & pay

13 people listed

Executive titles in this filing

  • PERRY J WADE (PRESIDENT &)

People named in this filing

  • WILLIE SHUMAKE (ADVISORY DIR)
  • PABLO GARZA (DIRECTOR)
  • ANTHONY COBERLY (DIRECTOR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2014. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The credit union met its goal for providing service to under-served individuals in nueces and san patricio counties. Full service banking products are offered as well as the development of member relationships to assist low income individuals in financial affairs.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
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

SUPPORTED - 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 liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 66
  • Accountability: 82
  • Sustainability: 68
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 93.7%; rating input score 94
  • 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: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • 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; 65th percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: 6.2%; rating input score 61; 61st percentile among comparable filings
  • Total-asset coverage ratio: 10.23; rating input score 91; 91st percentile among comparable filings
  • Liabilities to assets ratio: 0.88; rating input score 12; 12th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 93; 93rd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 93.7% of revenue deployed · 100% of spending went to programs
  • Governance: 9 of 9 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $8.7M in reported program spending
  • Leadership: top reported pay $0 · 13 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 23 of 23 current checks pass
  • Schedules: 3 filed schedules · includes executive pay
  • Contacts: How to reach this organization
  • 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: 2 of 6 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 12/100.