Quick charity verification for Freudenberg Nok Employees Credit Union (EIN: 20256463)
Verdict: Freudenberg Nok Employees Credit Union shows mixed signals
40/100Mission Score
$42KRevenue
$1.6MAssets
3Red Flags
2Strengths
Red Flags
Expenses ($546,967) significantly exceeded revenue ($42,317) in 2022, indicating a substantial operating deficit.
A sharp increase in expenses in 2022 compared to prior years (e.g., $111,657 in 2021) without a corresponding increase in revenue.
Declining revenue trend from $92,088 in 2019 to $42,317 in 2022.
Strengths
Consistent reporting of 0% officer compensation across all filings, indicating no executive pay.
Maintains substantial assets ($1,623,586 in 2022) despite recent financial challenges.
AI Transparency Report
Freudenberg Nok Employees Credit Union exhibits concerning financial trends, particularly in its latest filing. In 2022, the organization reported revenue of $42,317 against expenses of $546,967, indicating a significant deficit and an unsustainable spending pattern. This is a sharp increase in expenses compared to previous years, where expenses were generally closer to or below revenue. While the organization maintains substantial assets of $1,623,586, the rapid depletion of funds through high expenses relative to revenue is a major red flag for long-term financial health. The consistent reporting of 0% officer compensation across all filings suggests good transparency regarding executive pay, but the overall financial management raises questions.