Credit Unions Chartered In The State Of Michigan
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2020 | 4,804,314 | 3,944,764 | 859,550 | 28.2 | 39% |
| 2021 | 4,376,998 | 4,079,914 | 297,084 | 27.6 | 40% |
| 2022 | 4,797,257 | 4,084,543 | 712,714 | 23.6 | 39% |
| 2023 | 5,688,225 | 4,925,491 | 762,734 | 22.0 | 36% |
In its most recent public year (2023), this organization brought in $762,734 more than it spent. Its reserves stood at about 22 months of spending, down from 28.2 in 2020. 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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