802 CREDIT UNION (EIN 036005430) - Form 990 Financial Analysis & Trantor Score

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

1953

Legal Domicile

Principal Officer

Sean Gammon

Phone

8024799411

Tax Period

2023-01-01 to 2023-12-31

802 CREDIT UNION, founded in 1953, is a mid-sized nonprofit that reported $25.8M in total revenue in fiscal year 2023. Revenue surged 60% from the prior year, signaling strong growth momentum. The organization ran a surplus of $8.2M, a strong 32% operating margin.

Mission

Credit Union - Services directly related to credit union operations providing automobile, home equity, and personal loans to a membership of approximately 37,000.

🔒

Trantor Score

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

Sign in to view Trantor Score and financial metrics

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

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $21,098,193

Investment Income $4,737,908

Other Revenue $0

TOTAL REVENUE $25,836,101

Expense Breakdown

Grants Paid $0

Salaries & Benefits $7,726,256

Fundraising Expenses $0

Program Expenses $0

Other Expenses $8,613,515

TOTAL EXPENSES $17,643,301

Year-over-Year Comparison

	2023	2022	Change
Revenue	$25,836,101	$16,122,320	+0.6%
Expenses	$17,643,301	$13,700,330	+0.3%
Net Income	$8,192,800	$2,421,990	+2.4%

Key Indicators

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

🔒

Financial Health Indicators

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

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

Governance

Voting Members

Independent Members

Employees

124

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

Total Directors

Key Employees

$1,453,211

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Sean Gammon	Exec Director/CEO	50.00	Key Emp Highest	$462,292	$0	$462,292
Jill Fortier	Chief Financial Officer	50.00	Key Emp	$159,141	$0	$159,141
Stacey Benoit	Chief Operating Officer	50.00	Key Emp	$153,870	$0	$153,870
Chuck Karparis	Senior Vice President of Lending	45.00	Key Emp	$141,086	$0	$141,086
Ethan Grimes	VP Mortgage Lending	45.00	Key Emp	$115,702	$0	$115,702
Celina Ayers	VP Human Resources and Compliance	45.00	Key Emp	$110,563	$0	$110,563
Amanda Rosendbeck	VP Branch Administration	45.00	Key Emp	$105,859	$0	$105,859
Laura Paice	VP Consumer Lending	45.00	Key Emp	$102,774	$0	$102,774
Kate Boudreau	VP of Finance and Operations	50.00	Key Emp	$101,924	$0	$101,924
Mary Hull	Secretary	1.00	Officer Director	$0	$0	$0
Joeseph Shattie	Board Member	1.00	Director	$0	$0	$0
Gary Adamski	Board Member	1.00	Director	$0	$0	$0
Jeff Mobus	Board Chair/President	1.00	Officer Director	$0	$0	$0
Owen Shindler	Board Member	1.00	Director	$0	$0	$0
John Sama	Board Member/Treasurer	1.00	Officer Director	$0	$0	$0
Michael Cooney	Board Vice Chair	1.00	Director	$0	$0	$0
Bob Kendall	Board Member	1.00	Director	$0	$0	$0
James Valente	Board Member	1.00	Director	$0	$0	$0
Robin Sweetapple	Board Member	1.00	Director	$0	$0	$0
Gladys Berry	Board Member	1.00	Director	$0	$0	$0

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
2024	No data	No data	No data	No data
2023	$25,836,101	$17,643,301	$391,520,036	$8,192,800
2022	$16,122,320	$13,700,330	$375,569,734	$2,421,990
2021	$13,256,180	$12,215,140	$364,670,172	$1,041,040
2020	$9,816,119	$7,669,695	$327,456,002	$2,146,424
2019	$6,514,686	$5,856,626	$138,850,482	$658,060

802 CREDIT UNION