West Virginia Central Credit Union

Nonprofit profile at a glance

EIN
550518255
IRS 990 coverage
2010–2016
Forms available
Form 990 2016
Location
Parkersburg, WV, USA
Phone
3044854526
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Credit Unions

Official website

Reported finances

Revenue
$6,902,130
Expenses
$5,280,152
Assets
$155,419,656
Liabilities
$190,460

Source: IRS Form 990. Selected filing: tax year 2016. Amounts in USD.

Leadership & pay

14 people listed

Executive titles in this filing

  • Michael A Tucker (President/CEO)
  • Cindy Turner (Senior Vice President)

Highest reported compensation

  • Michael A Tucker (President/CEO): $168,315 total reported compensation
  • Cindy Turner (Senior Vice President): $92,087 total reported compensation
  • Mark Greenlees (VP Lending and Collections): $80,051 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2016. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Financial Cooperative: In the business of providing and meeting the finacial needs of our members. WVCCU's income is derived from services provided to members and then returned to members.

What it reported doing in 2016

Compensation paid to staff for their efforts in meeting the financial goals and providing financial services to the membership.

Operating model

Revenue model
Earned-program. 91% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 99% 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 most voting board members are independent. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 72
  • Transparency & Controls: 60
  • Accountability: 100
  • Sustainability: 84
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 69.7%; rating input score 70
  • Program expense ratio: 100%; rating input score 100
  • 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 23.5%; rating input score 86; 86th percentile among comparable filings
  • Total-asset coverage ratio: 29.43; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 95; 95th percentile among comparable filings
  • Officer compensation ratio: 8.8%; rating input score 27; 27th percentile among comparable filings

Growth

  • Program expense growth: 8.9% per year; rating input score 100; 67th percentile among comparable filings
  • Revenue growth: 8.2% per year; rating input score 100; 69th percentile among comparable filings
  • Asset growth: 10% per year; rating input score 100; 70th percentile among comparable filings

Details

  • Where the money goes: 69.7% of revenue deployed · 100% of spending went to programs
  • Governance: 9 of 9 board members independent · 9 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $5.3M in reported program spending
  • Leadership: top reported pay $168K · 14 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 21 of 21 current checks pass
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 7 filing years from 2010 to 2016
  • Contacts: How to reach this organization
  • Money network: 5 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 27/100.