DOWNEAST CREDIT UNION

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2006

Legal Domicile

Principal Officer

JOSEPH MOSES

Phone

8004271223

Tax Period

2024-01-01 to 2024-12-31

DOWNEAST CREDIT UNION, founded in 2006, is a mid-sized nonprofit that reported $19.5M in total revenue in fiscal year 2024. Revenue surged 21% from the prior year, signaling strong growth momentum. Expenses of $18.8M left a modest 3% surplus.

Mission

TO PROVIDE FINANCIAL SERVICES, INCLUDING DEPOSIT ACCOUNTS AND LOANS, TO CREDIT UNION MEMBERS.

Program Service Accomplishments

Program 1

THE PROCUREMENT OF FINANCIAL SERVICES INCLUDING, BUT NOT LIMITED TO, THE EXTENSION OF LOANS AND THE HOUSING OF DEPOSITS FOR MEMBERS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $16,846,153

Investment Income $1,181,668

Other Revenue $1,424,005

TOTAL REVENUE $19,451,826

Expense Breakdown

Grants Paid $0

Salaries & Benefits $6,926,634

Fundraising Expenses $0

Other Expenses $11,915,092

TOTAL EXPENSES $18,841,726

Year-over-Year Comparison

	2024	2023	Change
Revenue	$19,451,826	$16,106,826	+0.2%
Expenses	$18,841,726	$15,058,388	+0.3%
Net Income	$610,100	$1,048,438	-0.4%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

101

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$567,491

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ENMAN JAMES	DIRECTOR	1.00	Director	$0	$0	$0
WHALEN MIKE	DIRECTOR	1.00	Director	$0	$0	$0
CURTIS ROBERT	VICE CHAIRMAN	1.00	Officer Director	$0	$0	$0
MANZA JOSEPH	SECRETARY & TREASURER	1.00	Officer Director	$0	$0	$0
POTTLE MASON	CHAIRMAN	1.00	Officer Director	$0	$0	$0
MOSES JOSEPH	PRESIDENT & CEO	40.00	Officer	$291,163	$52,917	$344,080
FLEMING MATTHEW	CHIEF FINANCIAL OFFICER	40.00	Officer	$182,181	$41,230	$223,411
LANIER TONIA	SVP OF LENDING & BRANCH OP	40.00	Highest	$166,931	$31,066	$197,997
TOMAH BETTE	SVP OF INTERNAL OPERATIONS	40.00	Highest	$151,873	$30,429	$182,302
THERIAULT JASON	LENDING OFFICER	40.00	Highest	$158,275	$15,833	$174,108
SHERRARD CHRISTOPHER	IT DIRECTOR	40.00	Highest	$147,830	$19,985	$167,815
CUSHING JOANNE	DIRECTOR OF LENDING	40.00	Highest	$143,614	$18,387	$162,001

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	$19,451,826	$18,841,726	$295,430,017	$610,100
2023	$16,106,826	$15,058,388	$271,299,377	$1,048,438
2022	$14,151,528	$10,777,939	$269,624,837	$3,373,589
2021	$14,995,471	$11,020,879	$256,516,237	$3,974,592
2020	$15,598,749	$12,648,532	$225,778,198	$2,950,217
2019	$15,438,472	$14,349,619	$204,294,220	$1,088,853