Vatat Credit Union

Nonprofit profile at a glance

EIN
741464400
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Austin, TX, USA
Phone
5124723258
Rating
85
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$672,763
Expenses
$594,897
Assets
$10,560,581
Liabilities
$8,731,074

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

Leadership & pay

8 people listed

Executive titles in this filing

  • MEREDITH HARTMANN (CEO)

Highest reported compensation

  • MEREDITH HARTMANN (CEO): $115,768 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 VATAT Credit Union is to improve member's quality of life through financial stability. We will operate a safe and sound credit union which will in turn reward our shareholder members and our employees.

What it reported doing in 2024

Total credit union loans income increased slightly as more members are taking advantage of our membership and good competitive rates. Many refinanced from higher interest loans to our loans to save money in their financial transactions. Our ACH auto debit continued to grow and we are now offering online banking and e-statements (service requested by our members)

Operating model

Revenue model
Other-operating. 91% of the money available for current operations came from other operating 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

STRONG - 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 liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 90
  • Accountability: 84
  • Sustainability: 61
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 89.4%; rating input score 89
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 11.6%; rating input score 64; 64th percentile among comparable filings
  • Total-asset coverage ratio: 17.75; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0.83; rating input score 8; 8th percentile among comparable filings
  • Officer compensation ratio: 19.5%; rating input score 15; 15th percentile among comparable filings

Growth

  • Program expense growth: 15.4% per year; rating input score 100; 76th percentile among comparable filings
  • Revenue growth: 7.7% per year; rating input score 100; 58th percentile among comparable filings
  • Asset growth: 5% per year; rating input score 100; 39th percentile among comparable filings

Details

  • Where the money goes: 89.4% of revenue deployed · 100% of spending went to programs
  • Governance: 7 of 7 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $595K in reported program spending
  • Leadership: top reported pay $116K · 8 people listed
  • Consistency: 30 of 30 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 14 filing years from 2011 to 2024
  • 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: 2 of 7 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 8/100.
  • High — Sustainability: Officer compensation ratio scored 15/100.