VERMONT STATE EMPLOYEES CREDIT UNION (EIN 030184985) - Form 990 Financial Analysis & Trantor Score

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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

1947

Legal Domicile

Principal Officer

ROBERT MILLER

Phone

8023715162

Tax Period

2022-01-01 to 2022-12-31

VERMONT STATE EMPLOYEES CREDIT UNION, founded in 1947, is a mid-sized nonprofit that reported $47.2M in total revenue in fiscal year 2022. The organization ran a surplus of $9.3M, a strong 20% operating margin.

Mission

VERMONT STATE EMPLOYEES CREDIT UNION IS A STATE CHARTERED CREDIT UNION PROVIDING FINANCIAL SERVICES TO ITS MEMBERS IN THE STATE OF VERMONT.

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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 (2022)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $43,588,898

Investment Income $2,621,056

Other Revenue $992,240

TOTAL REVENUE $47,202,194

Expense Breakdown

Grants Paid $651,789

Salaries & Benefits $19,226,277

Fundraising Expenses $0

Other Expenses $18,050,528

TOTAL EXPENSES $37,928,594

Year-over-Year Comparison

	2022	2021	Change
Revenue	$47,202,194	$48,370,084	0.0%
Expenses	$37,928,594	$35,284,594	+0.1%
Net Income	$9,273,600	$13,085,490	-0.3%

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

240

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

$841,126

Total Directors

Key Employees

$1,205,492

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAMES LARSEN	BOD, DIRECTOR	1.00	Director	$0	$0	$0
HEATHER NEUWIRTH LOVEYJOY	BOD, SECRETARY	1.00	Director	$0	$0	$0
COLIN OWYANG	BOD, DIRECTOR	1.00	Director	$0	$0	$0
JANET HOLLNAR	BOD, TREASURER	1.00	Director	$0	$0	$0
SPENCER NEWMAN	BOD, CHAIR	1.00	Director	$0	$0	$0
EUGENE WESCOTT	SUPERVISORY COMMITTEE CHAI	1.00	Director	$0	$0	$0
WILLIAM BELONGIA	SUPERVISORY COMMITTEE	1.00	Director	$0	$0	$0
MICHAEL HOGAN	BOD, V. CHAIR	1.00	Director	$0	$0	$0
RENEE SULLIVAN	SUPERVISORY COMMITTEE	1.00	Director	$0	$0	$0
GEORGE SALES	BOD, DIRECTOR	1.00	Director	$0	$0	$0
JULIE LINEBERGER	BOD, DIRECTOR	1.00	Director	$0	$0	$0
STEPHANIE MEUNIER	BOD, DIRECTOR	1.00	Director	$0	$0	$0
OWN MILNE	BOD, DIRECTOR	1.00	Director	$0	$0	$0
CARRIE SIMMONS	BOD, DIRECTOR	1.00	Director	$0	$0	$0
ROBERT MILLER	PRESIDENT/CEO	40.00	Officer	$470,250	$57,708	$527,958
TERENCE FIELD	SVP-FINANCE	40.00	Officer	$283,897	$29,271	$313,168
YVONNE GARAND	SVP-BUSINESS DEVELOPMENT	40.00	Key Emp	$294,345	$53,163	$347,508
RICHARD HOMMEL	SVP-TECHNOLOGY/OPERATIONS	40.00	Key Emp	$289,219	$48,415	$337,634
VALERIE BEAUDIN	SVP-LENDING	40.00	Key Emp	$262,160	$52,417	$314,577
GREGORY HUYSMANN	DIRECTOR OF BUSINESS LENDI	40.00	Key Emp	$167,664	$38,109	$205,773
TREVOR THORPE	VP IT INFRASTRUCTURE	40.00	Highest	$168,827	$19,693	$188,520
ERIC PASTI	SR. VMWARE SYSTEMS ADMIN	40.00	Highest	$130,839	$6,060	$136,899
SARA PRYCE	VP BUSINESS SOLUTIONS	40.00	Highest	$163,123	$19,324	$182,447
EILEEN MEAD-BELANGER	VP HUMAN RESOURCES	40.00	Highest	$132,966	$23,702	$156,668
JILL STOWE	VP COMPLIANCE	40.00	Highest	$131,371	$29,350	$160,721

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
2022	$47,202,194	$37,928,594	No data	$9,273,600
2021	$48,370,084	$35,284,594	$1,088,463,473	$13,085,490
2020	$45,009,787	$38,328,313	$985,091,351	$6,681,474
2019	$43,023,253	$36,724,126	$842,445,629	$6,299,127
2018	$40,299,462	$34,933,142	$778,214,523	$5,366,320
2018	$40,299,462	$34,933,142	$778,214,523	$5,366,320

VERMONT STATE EMPLOYEES CREDIT UNION