Worcester Police Department Credit Union

Nonprofit profile at a glance

Source: IRS Form 990. Selected filing: tax year 2014. Amounts in USD.

13 people listed

Source: IRS Form 990. Selected filing: tax year 2014. Names and roles reflect this filing, not necessarily current officeholders.

To provide cost effective loans and shares, and avariety of banking services to the members of the credit union

The credit union has members. The credit union provides deposit and lending services and other low cost high quality products and services.

Revenue model: Earned-program. 85% 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 available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
Pay-setting controls: Limited
Foreign activity oversight: Limited
Grant itemization coverage: Limited
Major donor itemization: Limited
Related-party transparency: Limited

Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
Governance controls: 7 of 9 controls in place; rating input score 78
- Conflict-of-interest policy: Fail
- 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: Missing
- Independent financial-statement audit: Pass

Operating margin: 8.5%; rating input score 65; 65th percentile among comparable filings
Total-asset coverage ratio: 22.74; rating input score 97; 97th percentile among comparable filings
Liabilities to assets ratio: 0.87; rating input score 11; 11th percentile among comparable filings
Officer compensation ratio: 26.1%; rating input score 7; 7th percentile among comparable filings

Program expense growth: Limited
Revenue growth: -1.1% per year; rating input score 0; 26th percentile among comparable filings
Asset growth: 2.6% per year; rating input score 100; 45th percentile among comparable filings

Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
Governance: 9 of 9 board members independent · 7 of 9 filing controls reported
Programs: 1 filed program accomplishment · $629K in reported program spending
Leadership: top reported pay $101K · 13 people listed
Consistency: 12 of 12 current checks pass
Schedules: 3 filed schedules
Filing history: 5 filing years from 2010 to 2014
Contacts: How to reach this organization
Money network: 12 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.

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

High — Growth: Revenue growth scored 0/100.
Review — Accountability: Governance controls: Conflict-of-interest policy not reported.
High — Sustainability: Officer compensation ratio scored 7/100.
High — Sustainability: Liabilities to assets ratio scored 11/100.