Credit Unions Chartered In The State Of Michigan
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2020 | 12,917,654 | 11,472,354 | 1,445,300 | 24.6 | 29% |
| 2021 | 13,287,278 | 11,991,465 | 1,295,813 | 23.9 | 31% |
| 2022 | 14,420,939 | 12,816,575 | 1,604,364 | 18.2 | 32% |
| 2023 | 17,529,917 | 16,109,936 | 1,419,981 | 15.3 | 28% |
In its most recent public year (2023), this organization brought in $1,419,981 more than it spent. Its reserves stood at about 15.3 months of spending, down from 24.6 in 2020. Staff pay was 28% 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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