Western Heritage Credit Union

Nonprofit profile at a glance

EIN
470381807
IRS 990 coverage
2010–2017
Forms available
Form 990 2017
Location
Alliance, NE, USA
Phone
3087625702
Rating
51
Verdict
MIXED
Rating confidence
Moderate
Sector
Credit Unions

Official website

Reported finances

Revenue
$4,354,414
Expenses
$4,865,699
Assets
$69,939,815
Liabilities
$63,573,389

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

Leadership & pay

12 people listed

Executive titles in this filing

  • KURT SCHMIDT (PRESIDENT/CE)

Highest reported compensation

  • JENNIFER ZANASSI (VP OPERATION): $104,602 total reported compensation
  • KURT SCHMIDT (PRESIDENT/CE): $88,560 total reported compensation
  • WILLISE SEE (VP MEMBER SU): $69,088 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 serve the employees of bnsf railway of alliance, Nebraska and any other person living or working in the panhandle of Nebraska with all of their financial needs. The credit union exists to promote thrift among, and provide a source of credit for, its members.

What it reported doing in 2017

Loans are granted to individuals who are members of the credit union and who qualify for such loans under board of director approved policies. Loans include auto, recreational, credit card, signature and mortgage loans.

Operating model

Revenue model
Earned-program. 94% 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

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 90
  • Accountability: 95
  • Sustainability: 38
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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; 64th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • 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: -11.7%; rating input score 9; 9th percentile among comparable filings
  • Total-asset coverage ratio: 14.37; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0.91; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 5.4%; rating input score 45; 45th percentile among comparable filings

Growth

  • Program expense growth: -100% per year; rating input score 0; 0th percentile among comparable filings
  • Revenue growth: 1% per year; rating input score 100; 26th percentile among comparable filings
  • Asset growth: 0.5% per year; rating input score 100; 27th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 5 of 5 board members independent · 8 of 9 filing controls reported
  • Programs: 2 filed program accomplishments
  • Leadership: top reported pay $105K · 12 people listed
  • Highest-paid contractors: 4 contractors listed · $665K reported
  • Consistency: 12 of 13 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules
  • Filing history: 8 filing years from 2010 to 2017
  • Contacts: How to reach this organization
  • Money network: 3 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • High — Sustainability: Operating margin scored 9/100.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Accountability: Governance controls: Whistleblower policy not reported.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.
  • Moderate — Sustainability: Officer compensation ratio scored 45/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.