Credit Unions Chartered In The State Of Michigan
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2011 | 18,719,359 | 17,160,285 | 1,559,074 | 25.6 | 28% |
| 2012 | 19,424,314 | 16,361,739 | 3,062,575 | 29.0 | 30% |
| 2013 | 19,381,542 | 16,829,165 | 2,552,377 | 30.2 | 31% |
| 2014 | 21,519,219 | 19,253,960 | 2,265,259 | 27.8 | 31% |
| 2015 | 25,063,444 | 24,211,616 | 851,828 | 22.7 | 32% |
| 2016 | 26,736,289 | 28,204,255 | −1,467,966 | 20.9 | 30% |
| 2017 | 27,954,858 | 24,091,843 | 3,863,015 | 26.0 | 35% |
| 2018 | 29,757,822 | 26,446,260 | 3,311,562 | 25.3 | 35% |
| 2019 | 32,680,328 | 30,638,642 | 2,041,686 | 24.2 | 33% |
| 2020 | 34,733,576 | 31,676,733 | 3,056,843 | 24.4 | 34% |
| 2021 | 32,112,685 | 30,614,582 | 1,498,103 | 26.5 | 35% |
| 2022 | 30,548,902 | 32,482,047 | −1,933,145 | 20.8 | 33% |
| 2023 | 38,190,511 | 37,347,733 | 842,778 | 19.9 | 29% |
In its most recent public year (2023), this organization brought in $842,778 more than it spent. Its reserves stood at about 19.9 months of spending, down from 25.6 in 2011. Staff pay was 29% 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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