Utah League of Credit Unions

Nonprofit profile at a glance

EIN
870225267
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Salt Lake City, UT, USA
Phone
8019723400
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$3,066,431
Expenses
$2,801,031
Assets
$6,122,537
Liabilities
$2,102,142

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

Leadership & pay

16 people listed

Executive titles in this filing

  • SCOTT SIMPSON (PRESIDENT)
  • RUSSELL CANNON (CEO)

Highest reported compensation

  • SCOTT SIMPSON (PRESIDENT): $829,923 total reported compensation
  • STEVE NELSON (VP OF CR AFFAIRS): $243,714 total reported compensation
  • RUSSELL CANNON (CEO): $144,783 total reported compensation

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

Overview

Mission

Rendering services to member credit unions

Operating model

Revenue model
Earned-program. 92% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 66
  • Accountability: 86
  • Sustainability: 51
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 88.1%; rating input score 88
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 17th percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • 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 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: 8.7%; rating input score 60; 60th percentile among comparable filings
  • Total-asset coverage ratio: 2.19; rating input score 65; 65th percentile among comparable filings
  • Liabilities to assets ratio: 0.34; rating input score 31; 31st percentile among comparable filings
  • Officer compensation ratio: 51.9%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: 10.4% per year; rating input score 100; 65th percentile among comparable filings
  • Revenue growth: 5.5% per year; rating input score 100; 45th percentile among comparable filings
  • Asset growth: 5.5% per year; rating input score 100; 37th percentile among comparable filings

Details

  • Where the money goes: 88.1% of revenue deployed · 100% of spending went to programs
  • Governance: 11 of 11 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $2.8M in reported program spending
  • Leadership: top reported pay $830K · 16 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 25 of 25 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 12 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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 9 not reported.
  • High — Sustainability: Officer compensation ratio scored 1/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 31/100.