Credit Unions Chartered In The State Of Michigan
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2011 | 19,296,389 | 20,393,706 | −1,097,317 | 16.5 | 26% |
| 2012 | 18,658,450 | 17,757,944 | 900,506 | 19.6 | 29% |
| 2013 | 18,920,270 | 17,180,195 | 1,740,075 | 21.4 | 30% |
| 2014 | 18,384,437 | 16,830,092 | 1,554,345 | 23.7 | 31% |
| 2015 | 19,285,252 | 17,223,970 | 2,061,282 | 24.6 | 30% |
| 2016 | 21,196,644 | 19,724,989 | 1,471,655 | 21.9 | 30% |
| 2017 | 22,586,424 | 21,781,938 | 804,486 | 20.4 | 29% |
| 2018 | 23,588,396 | 22,352,754 | 1,235,642 | 19.9 | 28% |
| 2019 | 26,163,596 | 24,229,303 | 1,934,293 | 19.9 | 27% |
| 2020 | 27,011,920 | 25,008,443 | 2,003,477 | 20.9 | 27% |
| 2021 | 27,633,370 | 23,514,257 | 4,119,113 | 23.4 | 31% |
| 2022 | 29,269,007 | 25,015,361 | 4,253,646 | 19.7 | 31% |
| 2023 | 35,342,586 | 32,208,152 | 3,134,434 | 16.7 | 26% |
In its most recent public year (2023), this organization brought in $3,134,434 more than it spent. Its reserves stood at about 16.7 months of spending. Staff pay was 26% 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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