Credit Unions Chartered In The State Of Michigan
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2020 | 635,081 | 482,883 | 152,198 | 78.6 | 41% |
| 2021 | 632,046 | 459,424 | 172,622 | 87.1 | 44% |
| 2022 | 694,784 | 493,891 | 200,893 | 85.9 | 42% |
| 2023 | 864,834 | 635,417 | 229,417 | 71.1 | 35% |
In its most recent public year (2023), this organization brought in $229,417 more than it spent. Its reserves stood at about 71.1 months of spending, down from 78.6 in 2020. Staff pay was 35% 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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