Sunmark Credit Union
Sunmark Credit Union shows consistent asset and revenue growth with zero reported officer compensation on IRS 990s.
EIN: 141364933 · Latham, NY · NTEE: W61 · Updated: 2026-03-28
Is Sunmark Credit Union Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Sunmark Credit Union directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Sunmark Credit Union
Sunmark Credit Union (EIN: 141364933) is a nonprofit organization based in Latham, NY, classified under NTEE code W61. The organization reported total revenue of $141.0M and total assets of $1.1B according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Sunmark Credit Union's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Sunmark Credit Union with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 5%
- programs: 90%
- fundraising: 5%
According to IRS 990 filings, Sunmark Credit Union allocates its expenses as follows: admin: 5%, programs: 90%, fundraising: 5%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
The IRS 990 filings consistently report 0% officer compensation, which is highly unusual for an organization with over $1.1 billion in assets and $141 million in latest revenue, suggesting compensation may be reported through other means or structures not captured by this specific section of the 990.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Sunmark Credit Union's IRS 990 filings:
- Unusually low (0%) reported officer compensation on 990 for a large organization, potentially indicating incomplete transparency on executive pay through this specific form.
Strengths
The following positive indicators were identified for Sunmark Credit Union:
- Consistent and significant asset growth, from $920 million in 2020 to over $1.15 billion in 2023.
- Strong revenue growth, nearly doubling from $68 million in 2020 to $141 million in the latest period.
- Healthy expense management, with expenses consistently lower than revenue (e.g., $67.5 million expenses vs. $72.8 million revenue in 2023).
Frequently Asked Questions about Sunmark Credit Union
Is Sunmark Credit Union a legitimate charity?
Based on AI analysis of IRS 990 filings, Sunmark Credit Union (EIN: 141364933) some concerns. Mission Score: 75/100. 1 red flag identified, 3 strengths noted.
How does Sunmark Credit Union spend its money?
Sunmark Credit Union directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Sunmark Credit Union tax-deductible?
Sunmark Credit Union is registered as a tax-exempt nonprofit (EIN: 141364933). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Sunmark Credit Union report executive compensation if it's consistently 0% on the 990?
The consistent reporting of 0% officer compensation on the IRS 990s for an organization of this size suggests that executive compensation might be structured or reported in a way that doesn't appear in the 'Officer Compensation' section of the 990, or it could be paid by a related entity not covered by this specific filing.
Is Sunmark Credit Union financially stable?
Yes, Sunmark Credit Union appears financially stable, demonstrating consistent growth in assets from $920 million in 2020 to over $1.15 billion in 2023, and a significant increase in revenue from $68 million in 2020 to $141 million in the latest period, indicating robust financial health.
What do the high liabilities mean for a credit union?
High liabilities, consistently over 90% of assets (e.g., $1.06 billion in liabilities against $1.15 billion in assets in 2023), are typical for a credit union. These primarily represent member deposits, which are obligations to members, and are a normal part of a financial institution's balance sheet.
Filing History
IRS 990 filing history for Sunmark Credit Union showing financial trends over 4 years of public records:
Over 4 years of IRS 990 filings (2020–2023), Sunmark Credit Union's revenue has grown by 7.1%, moving from $68.1M to $72.9M. Total assets increased by 25.8% over the same period, from $920.1M to $1.2B. Total functional expenses rose by 29.9%, from $52.0M to $67.6M. In its most recent filing year (2023), Sunmark Credit Union reported a surplus of $5.3M, with revenue exceeding expenses. The organization holds $1.1B in liabilities against $1.2B in assets (debt-to-asset ratio: 92.3%), resulting in net assets of $89.7M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $72.9M | $67.6M | $1.2B | $1.1B | — | — |
| 2022 | $62.5M | $58.2M | $1.1B | $1.0B | — | — |
| 2021 | $61.8M | $54.8M | $1.0B | $928.6M | — | View 990 |
| 2020 | $68.1M | $52.0M | $920.1M | $848.3M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $72.9M, expenses of $67.6M, and assets of $1.2B (revenue +16.7% year-over-year).
- 2022: Revenue of $62.5M, expenses of $58.2M, and assets of $1.1B (revenue +1.1% year-over-year).
- 2021: Revenue of $61.8M, expenses of $54.8M, and assets of $1.0B (revenue -9.2% year-over-year).
- 2020: Revenue of $68.1M, expenses of $52.0M, and assets of $920.1M.
Data Sources and Methodology
This transparency report for Sunmark Credit Union is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.