Woodlands Credit Union

Nonprofit profile at a glance

EIN
020239894
IRS 990 coverage
2010–2011
Forms available
Form 990 2011
Location
Berlin, NH, USA
Phone
6037525650
Rating confidence
Limited
Sector
Credit Unions

Official website

Reported finances

Revenue
$5,135,857
Expenses
$5,534,974
Assets
$106,810,764
Liabilities
$83,971,769

Source: IRS Form 990. Selected filing: tax year 2011. Amounts in USD.

Leadership & pay

10 people listed

Source: IRS Form 990. Selected filing: tax year 2011. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To offer and promote a variety of affordable financial services with emphasis on delivery of quality service and education for the benefit of our membership, our staff and our community.

What it reported doing in 2011

Woodlands is a member-owned organization committed to providing superior financial services to the community. At 12/31/11 there were 16,343 depositors and 4,224 borrowers. Woodlands has provided approximately 6,015 installment, real estate, and credit card loans to members. The outstanding balance for these loans at 12/31/11 was $62,886,952.

Operating model

Revenue model
Earned-program. 93% 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: 91
  • Accountability: 100
  • Sustainability: 45
  • 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; 59th percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Pass
    • 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: 100%; rating input score 100; 70th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 65th percentile among comparable filings
  • Governance controls: 8 of 8 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: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -7.8%; rating input score 15; 15th percentile among comparable filings
  • Total-asset coverage ratio: 19.3; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0.79; rating input score 16; 16th percentile among comparable filings
  • Officer compensation ratio: 2.9%; rating input score 66; 66th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 3.2% per year; rating input score 100; 52nd percentile among comparable filings
  • Asset growth: 19.1% per year; rating input score 100; 85th 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 8 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $160K · 10 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 3 contractors listed
  • Consistency: 12 of 12 current checks pass
  • Schedules: 4 filed schedules · includes grants and executive pay
  • Filing history: 2 filing years from 2010 to 2011
  • 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 — Sustainability: Operating margin scored 15/100.
  • High — Sustainability: Liabilities to assets ratio scored 16/100.