Credit Unions Chartered In The State Of Michigan
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2011 | 9,960,507 | 8,968,042 | 992,465 | 28.6 | 26% |
| 2012 | 9,937,203 | 8,465,896 | 1,471,307 | 32.3 | 29% |
| 2013 | 9,492,429 | 8,165,028 | 1,327,401 | 35.5 | 32% |
| 2014 | 9,661,355 | 7,997,976 | 1,663,379 | 38.7 | 34% |
| 2015 | 11,027,322 | 8,830,640 | 2,196,682 | 38.0 | 31% |
| 2016 | 12,862,124 | 9,351,180 | 3,510,944 | 40.4 | 33% |
| 2017 | 14,214,468 | 10,229,381 | 3,985,087 | 41.6 | 32% |
| 2018 | 16,306,949 | 11,920,626 | 4,386,323 | 40.1 | 29% |
| 2019 | 18,761,990 | 13,146,711 | 5,615,279 | 41.5 | 31% |
| 2020 | 21,735,767 | 14,342,033 | 7,393,734 | 44.3 | 30% |
| 2021 | 22,122,560 | 14,331,683 | 7,790,877 | 50.8 | 30% |
| 2022 | 23,924,797 | 17,253,819 | 6,670,978 | 46.8 | 29% |
| 2023 | 39,576,447 | 29,713,145 | 9,863,302 | 35.4 | 23% |
In its most recent public year (2023), this organization brought in $9,863,302 more than it spent. Its reserves stood at about 35.4 months of spending, up from 28.6 in 2011. Staff pay was 23% 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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