Credit Unions Chartered In The State Of Michigan
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2020 | 72,071,451 | 61,781,141 | 10,290,310 | 34.3 | 23% |
| 2021 | 72,954,813 | 55,882,971 | 17,071,842 | 41.3 | 24% |
| 2022 | 82,148,923 | 62,306,924 | 19,841,999 | 37.5 | 26% |
| 2023 | 107,618,264 | 96,285,983 | 11,332,281 | 25.9 | 21% |
In its most recent public year (2023), this organization brought in $11,332,281 more than it spent. Its reserves stood at about 25.9 months of spending, down from 34.3 in 2020. Staff pay was 21% 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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