Credit Unions Chartered In The State Of Michigan
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2020 | 9,035,067 | 8,302,221 | 732,846 | 32.5 | 40% |
| 2021 | 9,615,353 | 8,605,964 | 1,009,389 | 44.1 | 43% |
| 2022 | 11,922,409 | 10,055,951 | 1,866,458 | 39.6 | 41% |
| 2023 | 14,355,199 | 12,736,325 | 1,618,874 | 32.6 | 36% |
In its most recent public year (2023), this organization brought in $1,618,874 more than it spent. Its reserves stood at about 32.6 months of spending. Staff pay was 36% 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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