Upper Michigan Community Credit Union
Nonprofit profile at a glance
- EIN
- 381611851
- IRS 990 coverage
- 2010–2018
- Forms available
- Form 990 2018
- Location
- Munising, MI, USA
- Phone
- 9063873839
- Rating
- 52
- Verdict
- MIXED
- Rating confidence
- Moderate
- Sector
- Credit Unions
Reported finances
- Revenue
- $1,737,462
- Expenses
- $1,406,582
- Assets
- $37,153,941
- Liabilities
- $33,850,047
Source: IRS Form 990. Selected filing: tax year 2018. Amounts in USD.
Leadership & pay
11 people listed
Executive titles in this filing
- Richard Gatiss (CEO)
Highest reported compensation
- Richard Gatiss (CEO): $81,170 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 provide high quality financial services to the members, educate members about these services, and promote the credit union philosophy of "People Helping People".
What it reported doing in 2018
The Credit Union provides a variety of loans to members including real estate, credit card, vehicle and other. The total number of loans outstanding at 12/31/2018 was 2,849.
Operating model
- Revenue model
- Earned-program. 78% 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: 90
- Accountability: 90
- Sustainability: 74
- 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; 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: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 6 of 8 controls in place; rating input score 75
- 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: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 19%; rating input score 80; 80th percentile among comparable filings
- Total-asset coverage ratio: 26.41; rating input score 98; 98th percentile among comparable filings
- Liabilities to assets ratio: 0.91; rating input score 8; 8th percentile among comparable filings
- Officer compensation ratio: 5.8%; rating input score 53; 53rd percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 3.4% per year; rating input score 100; 44th percentile among comparable filings
- Asset growth: 6% per year; rating input score 100; 55th 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 · 6 of 8 filing controls reported
- Programs: 2 filed program accomplishments
- Leadership: top reported pay $81K · 11 people listed
- Consistency: 12 of 13 current checks pass · 1 finding to review
- 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.
- High — Financial Efficiency: Mission deployment rate scored 0/100.
- High — Financial Efficiency: Program expense ratio scored 0/100.
- Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
- Review — Accountability: Governance controls: 2 of 8 not reported.
- High — Sustainability: Liabilities to assets ratio scored 8/100.
- Review — Sustainability: Officer compensation ratio scored 53/100.