Velocity Credit Union
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2011 | 35,013,083 | 27,750,267 | 7,262,816 | 20.8 | 33% |
| 2012 | 34,500,347 | 29,144,267 | 5,356,080 | 22.0 | 32% |
| 2013 | 35,776,846 | 26,980,564 | 8,796,282 | 29.6 | 34% |
| 2014 | 40,277,106 | 28,052,565 | 12,224,541 | 33.5 | 33% |
| 2015 | 45,085,526 | 29,875,266 | 15,210,260 | 36.3 | 34% |
| 2016 | 47,324,268 | 39,222,928 | 8,101,340 | 28.7 | 28% |
| 2017 | 49,634,931 | 54,423,312 | −4,788,381 | 20.2 | 20% |
| 2018 | 52,797,062 | 42,103,163 | 10,693,899 | 29.6 | 29% |
| 2019 | 51,540,286 | 43,292,054 | 8,248,232 | 29.9 | 32% |
| 2020 | 46,378,003 | 45,943,455 | 434,548 | 28.7 | 31% |
| 2021 | 65,298,866 | 40,972,813 | 24,326,053 | 40.4 | 37% |
| 2022 | 46,253,683 | 40,766,636 | 5,487,047 | 34.1 | 37% |
| 2023 | 55,312,889 | 53,854,155 | 1,458,734 | 26.2 | 31% |
In its most recent public year (2023), this organization brought in $1,458,734 more than it spent. Its reserves stood at about 26.2 months of spending, up from 20.8 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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