Vicinity Credit Union

Nonprofit profile at a glance

EIN
361894017
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Chicago, IL, USA
Phone
7733766000
Rating confidence
Limited
Sector
Credit Unions

Official website

Reported finances

Revenue
$13,283,274
Expenses
$13,603,782
Assets
$275,637,523
Liabilities
$266,493,847

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

Leadership & pay

12 people listed

Executive titles in this filing

  • MARIO AGUIRRE (PRESIDENT/CEO)

Highest reported compensation

  • MARIO AGUIRRE (PRESIDENT/CEO): $362,609 total reported compensation
  • MARIA TRAVIS (CHIEF RETAIL OPERATION OFFICER): $148,005 total reported compensation
  • JOHN LENZ (CFO): $98,753 total reported compensation

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

Overview

Mission

To encourage savings and provide credit at a reasonable interest rate, for the benefit for members.

What it reported doing in 2024

Income from the credit union membership and from the investment of members' funds provide the foundation from which the credit union can function and provide services to its restricted membership.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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: 65
  • Accountability: 95
  • Sustainability: 46
  • Growth: 60

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: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • 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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th 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: -2.4%; rating input score 22; 22nd percentile among comparable filings
  • Total-asset coverage ratio: 20.26; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 0.97; rating input score 7; 7th percentile among comparable filings
  • Officer compensation ratio: 4.8%; rating input score 52; 52nd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 6.9% per year; rating input score 100; 58th percentile among comparable filings
  • Asset growth: 5.9% per year; rating input score 100; 42nd percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 9 of 9 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $363K · 12 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $4M reported
  • Consistency: 12 of 12 current checks pass
  • Schedules: 4 filed schedules · includes major donors and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Sustainability: Operating margin scored 22/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • High — Sustainability: Liabilities to assets ratio scored 7/100.
  • Review — Sustainability: Officer compensation ratio scored 52/100.