Ukrainian Future Credit Union

Nonprofit profile at a glance

EIN
381686292
IRS 990 coverage
2010–2018
Forms available
Form 990 2018
Location
Warren, MI, USA
Phone
5867571980
Rating confidence
Limited
Sector
Credit Unions

Official website

Reported finances

Revenue
$1,383,094
Expenses
$1,939,873
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2018. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • ANDREW JAKYMOWYCH (CEO/TREASURER)

Highest reported compensation

  • ANDREW JAKYMOWYCH (CEO/TREASURER): $33,040 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2018. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To service the financial needs of our american-ukrainian members in the expressed motto, not for profit, not for charity, but for service."

What it reported doing in 2018

Provide 1,240 loans including new and used auto, new and used recreational vehicle, business, credit card, signature, and mortgage loans to our 3,800 members. The credit union merged with selfreliance federal credit union effective 8/31/18. Credit union deposit, lending, and other services for the former members of ukrainian future credit union will continue, but under selfreliance federal credit union.

Operating model

Revenue model
Earned-program. 70% 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: 90
  • Accountability: 73
  • Sustainability: 9
  • Growth: 0

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; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 88.9%; rating input score 89; 20th percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -40.3%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 1.7%; rating input score 64; 64th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -10.1% per year; rating input score 0; 5th percentile among comparable filings
  • Asset growth: -7.1% per year; rating input score 0; 9th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 8 of 9 board members independent · 4 of 8 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $33K · 9 people listed
  • Highest-paid contractors: 2 contractors listed · $348K reported
  • Consistency: 8 of 8 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 9 filing years from 2010 to 2018
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 7 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 3/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.