Credit Unions Chartered In The State Of Michigan
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2011 | 7,948,093 | 5,733,171 | 2,214,922 | 38.1 | 24% |
| 2012 | 7,525,661 | 5,285,953 | 2,239,708 | 46.5 | 30% |
| 2013 | 7,139,922 | 5,437,023 | 1,702,899 | 49.0 | 33% |
| 2015 | 7,691,815 | 6,075,377 | 1,616,438 | 51.6 | 31% |
| 2016 | 8,488,205 | 6,648,154 | 1,840,051 | 50.4 | 32% |
| 2017 | 9,171,648 | 7,517,735 | 1,653,913 | 47.2 | 31% |
| 2018 | 10,364,334 | 8,213,505 | 2,150,829 | 46.3 | 32% |
| 2019 | 10,899,094 | 8,842,554 | 2,056,540 | 45.9 | 33% |
| 2020 | 11,309,058 | 9,643,221 | 1,665,837 | 44.3 | 34% |
| 2021 | 11,959,829 | 8,343,991 | 3,615,838 | 56.5 | 39% |
| 2022 | 12,556,006 | 9,525,692 | 3,030,314 | 54.0 | 39% |
| 2023 | 17,795,248 | 12,527,027 | 5,268,221 | 44.9 | 37% |
In its most recent public year (2023), this organization brought in $5,268,221 more than it spent. Its reserves stood at about 44.9 months of spending, up from 38.1 in 2011. Staff pay was 37% 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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