Credit Unions Chartered In The State Of Michigan
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2011 | 4,582,901 | 3,981,202 | 601,699 | 20.7 | 24% |
| 2012 | 4,317,027 | 3,743,100 | 573,927 | 23.8 | 28% |
| 2013 | 4,163,485 | 3,860,570 | 302,915 | 24.1 | 31% |
| 2014 | 4,454,689 | 4,307,244 | 147,445 | 22.7 | 31% |
| 2015 | 5,013,219 | 4,288,039 | 725,180 | 24.8 | 34% |
| 2016 | 5,940,052 | 5,056,825 | 883,227 | 22.5 | 32% |
| 2017 | 6,310,596 | 5,778,821 | 531,775 | 20.3 | 32% |
| 2018 | 7,540,525 | 6,224,061 | 1,316,464 | 21.5 | 34% |
| 2019 | 8,336,794 | 7,159,629 | 1,177,165 | 20.7 | 32% |
| 2020 | 8,171,302 | 6,800,618 | 1,370,684 | 24.7 | 38% |
| 2021 | 8,784,579 | 6,624,709 | 2,159,870 | 28.6 | 43% |
| 2022 | 9,672,809 | 7,454,860 | 2,217,949 | 29.1 | 44% |
| 2023 | 11,245,265 | 9,967,232 | 1,278,033 | 23.1 | 31% |
In its most recent public year (2023), this organization brought in $1,278,033 more than it spent. Its reserves stood at about 23.1 months of spending, up from 20.7 in 2011. Staff pay was 31% 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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