Credit Unions Chartered In The State Of Michigan
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2011 | 2,624,953 | 2,456,876 | 168,077 | 26.5 | 23% |
| 2012 | 2,704,550 | 2,274,504 | 430,046 | 31.9 | 25% |
| 2014 | 2,518,393 | 2,231,113 | 287,280 | 35.0 | 26% |
| 2015 | 2,610,080 | 2,161,157 | 448,923 | 38.9 | 26% |
| 2016 | 2,858,085 | 2,389,927 | 468,158 | 36.1 | 27% |
| 2017 | 4,330,231 | 3,539,524 | 790,707 | 35.4 | 27% |
| 2018 | 4,646,344 | 3,810,377 | 835,967 | 33.9 | 27% |
| 2019 | 5,169,865 | 4,732,277 | 437,588 | 30.4 | 28% |
| 2020 | 5,050,480 | 4,606,768 | 443,712 | 33.3 | 34% |
| 2021 | 5,526,889 | 5,003,667 | 523,222 | 30.6 | 35% |
| 2022 | 6,150,132 | 5,594,253 | 555,879 | 23.2 | 34% |
| 2023 | 7,259,412 | 6,216,925 | 1,042,487 | 24.6 | 3% |
In its most recent public year (2023), this organization brought in $1,042,487 more than it spent. Its reserves stood at about 24.6 months of spending, down from 26.5 in 2011. Staff pay was 3% 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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