SunWest Educational Credit Union
Nonprofit profile at a glance
- EIN
- 840417233
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Pueblo, CO, USA
- Phone
- 7195610804
- Rating
- 44
- Verdict
- MIXED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $12,177,500
- Expenses
- $10,196,796
- Assets
- $215,496,913
- Liabilities
- $193,778,099
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
15 people listed
Executive titles in this filing
- Leslie Shepard (President/CEO)
- Amy Galassini (Executive Vice President/CFO)
Highest reported compensation
- Leslie Shepard (President/CEO): $291,718 total reported compensation
- Amy Galassini (Executive Vice President/CFO): $177,647 total reported compensation
- Jeff Meigs (Director of IT): $132,035 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
SunWest Credit Union will create a place where people feel they belong and can have all of their financial needs met, proactively engage with our members and our community, offer easily accessible financial products and services that meet our members' needs, and grow our financial strength so we can continuously develop offerings relevant to our members' changing lives.
What it reported doing in 2024
The credit union is owned by 11,666 members. The credit union provides services such as consumer lending, deposit/checking account services, home banking, bill pay, and other financial services.
Operating model
- Revenue model
- Other-operating. 88% of the money available for current operations came from other operating 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
MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 0
- Transparency & Controls: 71
- Accountability: 82
- Sustainability: 70
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 0%; rating input score 0
- Program expense ratio: 0%; rating input score 0
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
- Pay-setting controls: 2 of 6 controls in place; rating input score 33
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Pass
- 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; 66th percentile among comparable filings
- Governance controls: 5 of 9 controls in place; rating input score 56
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Fail
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 16.3%; rating input score 78; 78th percentile among comparable filings
- Total-asset coverage ratio: 21.13; rating input score 97; 97th percentile among comparable filings
- Liabilities to assets ratio: 0.9; rating input score 10; 10th percentile among comparable filings
- Officer compensation ratio: 8.3%; rating input score 28; 28th percentile among comparable filings
Growth
- Program expense growth: -31.4% per year; rating input score 0; 1st percentile among comparable filings
- Revenue growth: 7% per year; rating input score 100; 59th percentile among comparable filings
- Asset growth: 6.4% per year; rating input score 100; 45th percentile among comparable filings
Details
- Where the money goes: 0% of revenue deployed · 0% of spending went to programs
- Governance: 8 of 8 board members independent · 5 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $10.2M in reported program spending
- Leadership: top reported pay $292K · 15 people listed · 2 of 6 pay-setting controls reported
- Highest-paid contractors: 4 contractors listed · $998K reported
- Consistency: 12 of 13 current checks pass · 1 finding to review
- Schedules: 3 filed schedules · includes executive pay
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 9 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.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Financial Efficiency: Mission deployment rate scored 0/100.
- High — Financial Efficiency: Program expense ratio scored 0/100.
- Review — Accountability: Governance controls: 3 of 8 not reported.
- High — Growth: Program expense growth scored 0/100.
- Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
- High — Sustainability: Liabilities to assets ratio scored 10/100.
- High — Sustainability: Officer compensation ratio scored 28/100.