The Credit Union League of Connecticut Inc

Nonprofit profile at a glance

EIN
060606505
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Rocky Hill, CT, USA
Phone
2032655657
Rating confidence
Limited
Sector
Credit Unions

Official website

Reported finances

Revenue
$686,308
Expenses
$605,746
Assets
$3,022,328
Liabilities
$697,230

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

Leadership & pay

13 people listed

Executive titles in this filing

  • BRUCE ADAMS (PRESIDENT/CEO)

Highest reported compensation

  • BRUCE ADAMS (PRESIDENT/CEO): $342,972 total reported compensation
  • MELISSA ROBINSON (VP-OPERATIONS): $127,173 total reported compensation
  • DAVID HINCHEY (VP-COMMUNITY AND SOCIAL IMPACT): $120,133 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission of the Connecticut credit union league of Connecticut is to serve, advocate for, and advance the interests of Connecticut's credit unions in order to support their growth and maximize their positive impact on their members, communities, employees, and all their relationships.

What it reported doing in 2024

The league provides various programs and services to approximately 75 Connecticut credit unions who are members of the league.

Operating model

Revenue model
Earned-program. 95% 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: 80
  • Accountability: 91
  • Sustainability: 59
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 87.5%; rating input score 88; 3rd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • 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; 63rd percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 11.7%; rating input score 65; 65th percentile among comparable filings
  • Total-asset coverage ratio: 4.99; rating input score 84; 84th percentile among comparable filings
  • Liabilities to assets ratio: 0.23; rating input score 29; 29th percentile among comparable filings
  • Officer compensation ratio: 115.9%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -5.5% per year; rating input score 0; 5th percentile among comparable filings
  • Asset growth: -1% per year; rating input score 0; 15th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 9 of 9 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $343K · 13 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $104K reported
  • Consistency: 10 of 10 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 10 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • 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 — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 29/100.