ASSOCIATION OF VERMONT CREDIT UNIO… - Form 990 Financial Data

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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

JOSEPH G BERGERON

Phone

8028637848

Tax Period

2023-01-01 to 2023-12-31

ASSOCIATION OF VERMONT CREDIT UNIONS INC, founded in 1947, is a small nonprofit that reported $652K in total revenue in fiscal year 2023. Revenue fell 27% from the prior year — a significant decline worth monitoring. Expenses of $606K left a modest 7% surplus.

Mission

ASSISTING VERMONT MEMBER CREDIT UNIONS IN ANY WAY POSSIBLE WITH IMPROVING THEIR OVERALL LEVEL OF SERVICE TO THEIR MEMBERS AND CONSUMERS.

Program Service Accomplishments

Program 1

ORGANIZATION, DEVELOPMENT AND PROMOTION OF VERMONT CREDIT UNIONS

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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 (2023)

Revenue Breakdown

Contributions & Grants $429,406

Program Service Revenue $0

Investment Income $28,515

Other Revenue $194,224

TOTAL REVENUE $652,145

Expense Breakdown

Grants Paid $0

Salaries & Benefits $859,551

Fundraising Expenses $0

Other Expenses $-253,835

TOTAL EXPENSES $605,716

Year-over-Year Comparison

	2023	2022	Change
Revenue	$652,145	$895,464	-0.3%
Expenses	$605,716	$767,372	-0.2%
Net Income	$46,429	$128,092	-0.6%

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

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

$349,218

Total Directors

$205,862

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SEAN GAMMON	DIRECTOR	1.00	Director	$0	$0	$0
CARRIE LIN ALLEN	CHAIR	1.00	Director	$0	$0	$0
RICK HOMMEL	VICE CHAIR	1.00	Director	$0	$0	$0
ROBERT LAKE	DIRECTOR	1.00	Director	$0	$0	$0
JEAN GIARD	DIRECTOR	1.00	Director	$0	$0	$0
BRETT SMITH	SECRETARY	1.00	Director	$0	$0	$0
LISA HUYER	TREASURER	1.00	Director	$0	$0	$0
JOSEPH BERGERON	PRESIDENT	40.00	Officer Director	$180,066	$25,796	$205,862
CHRISTINE DAVIDSON	VICE PRESIDENT	40.00	Officer	$104,722	$38,634	$143,356

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	No data	No data	No data	No data
2023	$652,145	$605,716	$3,447,862	$46,429
2022	$895,464	$767,372	$3,292,350	$128,092
2021	$630,564	$473,222	$3,178,247	$157,342
2020	$620,208	$551,924	$3,320,328	$68,284
2019	$730,956	$651,674	$2,901,053	$79,282
2018	$853,321	$662,420	$2,840,426	$190,901

ASSOCIATION OF VERMONT CREDIT UNIONS INC