Quick charity verification for Heritage Financial Credit Union (EIN: 141348251)
Verdict: Heritage Financial Credit Union appears trustworthy
85/100Mission Score
$46.0MRevenue
$731.0MAssets
1Red Flags
4Strengths
Red Flags
Consistent 0% officer compensation reported, which is atypical for an organization of this size and warrants further investigation for transparency.
Strengths
Consistent revenue growth from $27.5M in 2021 to $39.4M in 2023.
Strong asset growth from $534.8M in 2021 to $711.9M in 2023.
Positive net income in all reported periods, indicating financial stability and effective expense management.
Healthy equity growth (Assets - Liabilities) over the three-year period.
AI Transparency Report
Heritage Financial Credit Union demonstrates consistent growth in revenue and assets over the past three years, indicating a stable financial trajectory. With revenues increasing from $27.5 million in 2021 to $39.4 million in 2023, and assets growing from $534.8 million to $711.9 million in the same period, the organization appears to be expanding its operations and financial base. The consistent reporting of 0% officer compensation across all filings suggests a unique compensation structure or that executive compensation is not reported in this specific section, which could warrant further investigation for complete transparency. The organization's NTEE code W61 indicates it is a credit union, which operates differently from traditional charities in terms of 'program spending' as its primary function is financial services to members. Therefore, a direct comparison to typical nonprofit spending ratios for program, admin, and fundraising might not be entirely appropriate without understanding the specific operational costs inherent to a credit union model. However, the consistent positive net income (revenue minus expenses) across all years ($3.6 million in 2023, $5.0 million in 2022, $4.0 million in 2021) indicates sound financial management and an ability to cover operational costs.