Tri-county Credit Union

Nonprofit profile at a glance

EIN
391022442
IRS 990 coverage
2010–2020
Forms available
Form 990 2020
Location
Marinette, WI, USA
Phone
7157353913
Rating
45
Verdict
MIXED
Rating confidence
Moderate
Sector
Credit Unions

Official website

Reported finances

Revenue
$1,104,293
Expenses
$1,106,074
Assets
$33,468,298
Liabilities
$29,295,842

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • RACHEL RAYGO (PRESIDENT)

Highest reported compensation

  • RACHEL RAYGO (PRESIDENT): $159,384 total reported compensation
  • PAMELA GROSSCHADLE (VP MEMBER SE): $57,307 total reported compensation
  • DENISE OBERLEITNER (VP LENDING): $53,275 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide the best financial services possible to our members.

What it reported doing in 2020

The credit union has various types of deposit accounts available for our members. We opened 170 new deposit accounts in 2020. As of 12/31/20 we had 2,692 members.

Operating model

Revenue model
Earned-program. 85% 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

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: 77
  • Accountability: 82
  • Sustainability: 43
  • 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; 63rd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • 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; 63rd 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: -0.2%; rating input score 26; 26th percentile among comparable filings
  • Total-asset coverage ratio: 30.26; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 0.88; rating input score 8; 8th percentile among comparable filings
  • Officer compensation ratio: 24.4%; rating input score 11; 11th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 1.6% per year; rating input score 100; 33rd percentile among comparable filings
  • Asset growth: 2.4% per year; rating input score 100; 32nd percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 7 of 7 board members independent · 5 of 9 filing controls reported
  • Programs: 2 filed program accomplishments
  • Leadership: top reported pay $159K · 10 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 11 of 12 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 11 filing years from 2010 to 2020
  • Contacts: How to reach this organization
  • Money network: 3 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.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • 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 — Sustainability: Operating margin scored 26/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 8/100.
  • High — Sustainability: Officer compensation ratio scored 11/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.