Telecommunity Credit Union Inc

Nonprofit profile at a glance

EIN
340058910
IRS 990 coverage
2010–2010
Forms available
Form 990 2010
Location
Akron, OH, USA
Phone
3306452700
Rating confidence
Limited
Sector
Credit Unions

Official website

Reported finances

Revenue
$2,740,917
Expenses
$2,521,553
Assets
$38,328,886
Liabilities
$34,655,817

Source: IRS Form 990. Selected filing: tax year 2010. Amounts in USD.

Leadership & pay

10 people listed

Source: IRS Form 990. Selected filing: tax year 2010. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

See schedule o

What it reported doing in 2010

Depository accounts - the credit union strives to provide members with financial flexibility and encourage savings with various types of depository accounts. The credit union currently offers depository accounts in varieties such as draft(checking) accounts, savings accounts, money markets, certificate of deposit accounts, christmas clubs and other various types. At year end, there were approximately 13,415 depository accounts held at the credit union.

Operating model

Revenue model
Other-operating. 95% 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

- 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: 76
  • Accountability: 84
  • Sustainability: 66
  • Growth: NotEnoughData

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; 59th 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: Pass
    • 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; 66th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • 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: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 8%; rating input score 69; 69th percentile among comparable filings
  • Total-asset coverage ratio: 15.2; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0.9; rating input score 12; 12th percentile among comparable filings
  • Officer compensation ratio: 6.7%; rating input score 34; 34th percentile among comparable filings

Growth

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

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: 3 filed program accomplishments
  • Leadership: top reported pay $109K · 10 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 12 of 12 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • 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 8 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 12/100.
  • Moderate — Sustainability: Officer compensation ratio scored 34/100.