The Credit Union Foundation of Md & Dc

Nonprofit profile at a glance

EIN
521749045
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
Columbia, MD, USA
Phone
4433250768
Rating
63
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$205,835
Expenses
$299,786
Assets
$4,152,261
Liabilities
$52,054

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

11 people listed

Executive titles in this filing

  • JOHN BRATSAKIS (EXECUTIVE DIRECTOR)

People named in this filing

  • JIM WHIPP (BOARD CHAIR)
  • RODERIC FLOWERS (VICE CHAIR)
  • SEAN ZIMMERMANN (TREASURER)

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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The credit union foundation of Maryland & the district of columbia improves lives by working with credit unionx in Maryland and the district of columbia to support financial self-sufficiency and personal, affordable financial services.

What it reported doing in 2024

The foundation is a non-profit organization dedicated to supporting credit unions and the communities they serve with an emphasis on grants to credit unions, college scholarships and financial literacy programs.

Operating model

Revenue model
Donor-supported. 61% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 85% of its reported program spending out as grants.

The verdict

SUPPORTED - 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: 37
  • Transparency & Controls: 78
  • Accountability: 100
  • Sustainability: 43
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 50.6%; rating input score 51
  • Program expense ratio: 26%; rating input score 26
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 93.8%; rating input score 94; 27th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 50.4%; rating input score 50; 43rd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 7 controls in place; rating input score 100
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -45.6%; rating input score 6; 6th percentile among comparable filings
  • Total-asset coverage ratio: 13.85; rating input score 92; 92nd percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 44; 44th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -9.4% per year; rating input score 0; 11th percentile among comparable filings
  • Revenue growth: 0.6% per year; rating input score 100; 27th percentile among comparable filings
  • Asset growth: 1.8% per year; rating input score 100; 32nd percentile among comparable filings

Details

  • Where the money goes: 50.6% of revenue deployed · 26% of spending went to programs
  • Governance: 9 of 9 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $78K in reported program spending
  • Leadership: top reported pay $0 · 11 people listed
  • Consistency: 25 of 27 current checks pass · 2 findings to review
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 10 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • 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 — Financial Efficiency: Mission deployment rate scored 51/100.
  • High — Financial Efficiency: Program expense ratio scored 26/100.
  • Review — Transparency & Controls: Grant itemization coverage scored 50/100.
  • High — Sustainability: Operating margin scored 6/100.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 44/100.