Credit Unions Chartered In The State Of Michigan
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2020 | 5,319,736 | 5,090,784 | 228,952 | 30.9 | 35% |
| 2021 | 5,105,160 | 5,124,890 | −19,730 | 26.2 | 7% |
| 2022 | 6,424,637 | 5,473,395 | 951,242 | 12.1 | 4% |
| 2023 | 14,223,900 | 11,411,090 | 2,812,810 | 18.2 | 27% |
In its most recent public year (2023), this organization brought in $2,812,810 more than it spent. Its reserves stood at about 18.2 months of spending, down from 30.9 in 2020. Staff pay was 27% 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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