Vibe Credit Union

Nonprofit profile at a glance

EIN
381093900
IRS 990 coverage
2010–2017
Forms available
Form 990 2017
Location
Novi, MI, USA
Phone
2487359500
Rating confidence
Limited
Sector
Credit Unions

Reported finances

Revenue
$23,738,462
Expenses
$22,180,793
Assets
$529,146,744
Liabilities
$457,302,643

Source: IRS Form 990. Selected filing: tax year 2017. Amounts in USD.

Leadership & pay

14 people listed

Executive titles in this filing

  • THOMAS REAGAN (PRESIDENT/CEO)

Highest reported compensation

  • THOMAS REAGAN (PRESIDENT/CEO): $529,102 total reported compensation
  • BRIAN G MCVEIGH (CFO): $279,683 total reported compensation
  • MARK WOLLSCHLAGER (BUSINESS LOAN SPECIALIST): $188,785 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2017. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To enhance the financial well-being of our members.

What it reported doing in 2017

Provide 18,477 loans including vehicle, recreational vehicle, mobile home, line of credit, credit card, home equity, mortgage, business and share secured loans

Operating model

Revenue model
Earned-program. 90% 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: 77
  • Accountability: 95
  • Sustainability: 63
  • Growth: 20

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: 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; 68th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: 6.6%; rating input score 64; 64th percentile among comparable filings
  • Total-asset coverage ratio: 23.86; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 0.86; rating input score 13; 13th percentile among comparable filings
  • Officer compensation ratio: 7.4%; rating input score 25; 25th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -1.7% per year; rating input score 0; 9th percentile among comparable filings
  • Asset growth: 2.8% per year; rating input score 100; 36th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 7 of 7 board members independent · 8 of 9 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $529K · 14 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed · $1.6M reported
  • Consistency: 11 of 11 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 8 filing years from 2010 to 2017
  • 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.

  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • High — Sustainability: Liabilities to assets ratio scored 13/100.
  • High — Sustainability: Officer compensation ratio scored 25/100.