Credit Unions Chartered In The State Of Michigan
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2011 | 137,904,513 | 101,004,995 | 36,899,518 | 26.8 | 23% |
| 2012 | 193,549,833 | 115,173,959 | 78,375,874 | 30.3 | 30% |
| 2014 | 188,642,653 | 132,233,939 | 56,408,714 | 36.0 | 35% |
| 2015 | 229,781,201 | 156,900,788 | 72,880,413 | 35.9 | 35% |
| 2016 | 267,512,162 | 182,548,373 | 84,963,789 | 36.4 | 35% |
| 2017 | 284,025,811 | 203,800,586 | 80,225,225 | 37.3 | 36% |
| 2018 | 341,427,909 | 243,380,485 | 98,047,424 | 35.9 | 36% |
| 2019 | 426,738,471 | 281,064,733 | 145,673,738 | 37.5 | 34% |
| 2020 | 495,848,275 | 331,329,406 | 164,518,869 | 37.9 | 36% |
| 2021 | 490,221,594 | 333,217,740 | 157,003,854 | 42.8 | 37% |
| 2022 | 520,341,837 | 350,744,589 | 169,597,248 | 42.9 | 37% |
| 2023 | 692,047,277 | 519,826,803 | 172,220,474 | 31.9 | 24% |
In its most recent public year (2023), this organization brought in $172,220,474 more than it spent. Its reserves stood at about 31.9 months of spending, up from 26.8 in 2011. Staff pay was 24% of spending.
Reserve months = net assets ÷ average monthly spending; net assets count everything the organization owns beyond its debts — buildings and donor-restricted funds included, not just cash. Staff pay = salaries, wages, and officer compensation; it excludes benefits and payroll taxes. The IRS releases this data years after the fact — this organization's newest public year is 2023. Years refer to the calendar year in which the organization's fiscal year ended. Short-form filers do not publicly report donor-restricted balances or staffing costs. Source filings
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