Credit Unions Chartered In The State Of Michigan
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2020 | 4,224,932 | 3,563,268 | 661,664 | 64.8 | 34% |
| 2021 | 4,477,208 | 3,670,250 | 806,958 | 65.5 | 38% |
| 2022 | 4,415,579 | 4,313,394 | 102,185 | 56.1 | 34% |
| 2023 | 5,429,627 | 5,319,122 | 110,505 | 45.7 | 32% |
In its most recent public year (2023), this organization brought in $110,505 more than it spent. Its reserves stood at about 45.7 months of spending, down from 64.8 in 2020. Staff pay was 32% 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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