Credit Unions Chartered In The State Of Michigan
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2011 | 11,188,425 | 10,106,126 | 1,082,299 | 19.2 | 29% |
| 2012 | 9,188,524 | 8,493,207 | 695,317 | 25.0 | 32% |
| 2013 | 9,341,396 | 7,678,911 | 1,662,485 | 27.6 | 33% |
| 2014 | 9,219,928 | 7,690,081 | 1,529,847 | 30.5 | 38% |
| 2017 | 11,841,511 | 10,492,098 | 1,349,413 | 24.0 | 27% |
| 2018 | 13,086,080 | 11,734,055 | 1,352,025 | 21.7 | 30% |
| 2019 | 13,945,791 | 11,768,196 | 2,177,595 | 26.5 | 31% |
| 2020 | 13,696,734 | 12,248,320 | 1,448,414 | 27.6 | 32% |
| 2021 | 14,786,724 | 13,473,542 | 1,313,182 | 24.5 | 32% |
| 2022 | 17,406,777 | 15,393,378 | 2,013,399 | 12.1 | 30% |
| 2023 | 18,978,004 | 17,405,556 | 1,572,448 | 11.7 | 28% |
In its most recent public year (2023), this organization brought in $1,572,448 more than it spent. Its reserves stood at about 11.7 months of spending, down from 19.2 in 2011. 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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