EVERETT 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

1926

Legal Domicile

Principal Officer

JANIS CAINES

Phone

6173899000

Tax Period

2018-01-01 to 2018-12-31

EVERETT CREDIT UNION, founded in 1926, is a community nonprofit that reported $1.4M in total revenue in fiscal year 2018. Revenue fell 22% from the prior year — a significant decline worth monitoring. Expenses of $1.3M left a modest 7% surplus.

Mission

TO PROVIDE CREDIT UNION SERVICES TO ITS MEMBERS.

Program Service Accomplishments

Program 1

Expenses: $1,340,656 Revenue: $1,447,818

TO PROMOTE THRIFT AMONG ITS MEMBERS BY GIVING THEM AN OPPORTUNITY TO SAVE MONEY IN SMALL AMOUNTS AND OBTAIN LOANS AT MODERATE RATES OF INTEREST AND FOR PURPOSES WHICH PROMISE TO BE BENEFICIAL TO THE...

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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 (2018)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $1,179,033

Investment Income $268,785

Other Revenue $0

TOTAL REVENUE $1,447,818

Expense Breakdown

Grants Paid $0

Salaries & Benefits $647,767

Fundraising Expenses $0

Program Expenses $1,340,656

Other Expenses $692,889

TOTAL EXPENSES $1,340,656

Year-over-Year Comparison

	2018	2017	Change
Revenue	$1,447,818	$1,865,072	-0.2%
Expenses	$1,340,656	$1,620,703	-0.2%
Net Income	$107,162	$244,369	-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

N/A

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

$201,284

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ALBERT N SPADAFORA	PRESIDENT & CHAIRMAN	3.00	Officer Director	$0	$0	$0
LORRAINE S DANCA	VICE CHAIRMAN	3.00	Officer Director	$0	$0	$0
LEONARD S WOLLINS	CLERK	3.00	Officer Director	$0	$0	$0
RAOUL GONCALVES	DIRECTOR	2.00	Director	$0	$0	$0
BARRY RUSSELL	DIRECTOR	2.00	Director	$0	$0	$0
FREDERICK F FORESTEIRE	DIRECTOR	2.00	Director	$0	$0	$0
ALFRED JF LATTANZI	TREASURER	3.00	Officer Director	$0	$0	$0
THOMAS J BOYLE	DIRECTOR	2.00	Director	$0	$0	$0
GREG LUCEY	DIRECTOR	2.00	Director	$0	$0	$0
BARBARA J FRAZIER	CHIEF EXECUTIVE OFFICER	40.00	Officer	$201,284	$0	$201,284

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
2018	$1,447,818	$1,340,656	No data	$107,162