POLISH NATIONAL 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

1921

Legal Domicile

Principal Officer

JAMES P KELLY

Phone

4135929495

Tax Period

2024-01-01 to 2024-12-31

POLISH NATIONAL CREDIT UNION, founded in 1921, is a mid-sized nonprofit that reported $31.0M in total revenue in fiscal year 2024. Expenses of $28.4M left a modest 8% surplus.

Mission

PNCU IS A NON-PROFIT ORGANIZATION THAT IS OWNED BY THE MEMBERS. EACH MEMBER MUST OPEN AN ACCOUNT TO BECOME A MEMBER. EACH MEMBER IS ALLOWED TO CAST ONE VOTE AT THE ANNUAL MEETING. THE SLATE OF THE BOARD OF DIRECTORS IS VOTED BY THE MEMBERS. PNCU HAS 13 BOARD MEMBERS WHO ARE VOLUNTEERS. THEY ARE NOT COMPENSATED FINANCIALLY IN ANY WAY.

Program Service Accomplishments

Program 1

THE CREDIT UNION MAINTAINED 47,883 DEPOSIT ACCOUNTS APPROXIMATING $581,055,000 AS OF DECEMBER 31, 2024. DIVIDENDS AND INTEREST INCOME ON MEMBER DEPOSITS APPROXIMATED $7,032,000 FOR THE YEAR ENDED...

THE CREDIT UNION MAINTAINED 47,883 DEPOSIT ACCOUNTS APPROXIMATING $581,055,000 AS OF DECEMBER 31, 2024. DIVIDENDS AND INTEREST INCOME ON MEMBER DEPOSITS APPROXIMATED $7,032,000 FOR THE YEAR ENDED DECEMBER 31, 2024. AS OF DECEMBER 31, 2024, THE CREDIT UNION HAD 6,143 LOANS OUTSTANDING TOTALING APPROXIMATELY $596,949,000. ADDITIONALLY, APPROXIMATELY 569 SAFE DEPOSIT BOXES WERE USED BY MEMBERS DURING 2024.

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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 $27,665,129

Investment Income $3,365,527

Other Revenue $0

TOTAL REVENUE $31,030,656

Expense Breakdown

Grants Paid $106,659

Salaries & Benefits $12,824,910

Fundraising Expenses $0

Other Expenses $15,489,233

TOTAL EXPENSES $28,420,802

Year-over-Year Comparison

	2024	2023	Change
Revenue	$31,030,656	$30,406,557	+0.0%
Expenses	$28,420,802	$27,323,706	+0.0%
Net Income	$2,609,854	$3,082,851	-0.2%

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

167

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

$1,914,752

Total Directors

$903,074

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAMES P KELLY	PRESIDENT & CEO	40.00	Officer Director	$827,960	$75,114	$903,074
EDWARD CZEPIEL	DIRECTOR	5.00	Director	$0	$0	$0
BENJAMIN DAVIS	DIRECTOR	5.00	Director	$0	$0	$0
PAUL FEDERICI	DIRECTOR	5.00	Director	$0	$0	$0
WILLIAM JEBB	DIRECTOR	5.00	Director	$0	$0	$0
HENRY LENART	DIRECTOR	5.00	Director	$0	$0	$0
STANLEY MATRAS	CLERK OF THE BOARD	5.00	Director	$0	$0	$0
ROBERT MORITKO	VICE CHAIRMAN	5.00	Director	$0	$0	$0
JOHN MURPHY	DIRECTOR	5.00	Director	$0	$0	$0
RALPH SLATE	DIRECTOR	5.00	Director	$0	$0	$0
MICHAEL WOISHNIS	DIRECTOR	5.00	Director	$0	$0	$0
DR ANTHONY ZEPKO	DIRECTOR	5.00	Director	$0	$0	$0
GARY ZIEMBA	BOARD CHAIRMAN	5.00	Director	$0	$0	$0
MICHAEL SUGRUE	EVP	40.00	Officer	$391,521	$74,271	$465,792
CHARLOTTE HANSEN	CFO/SVP	40.00	Officer	$235,596	$67,225	$302,821
KIRK BURNHAM	SVP OPERATIONS	40.00	Officer	$187,098	$55,967	$243,065
KATHI DONAHUE	SVP COMMERCIAL LENDING	40.00	Highest	$228,704	$53,911	$282,615
NANCY MIRKIN	VP COMMERCIAL LENDING	40.00	Highest	$198,380	$54,055	$252,435
MESSANVI EKON	VICE PRESIDENT, COMPLIANCE	40.00	Highest	$176,237	$56,626	$232,863
BONNIE RAYMOND	SENIOR VICE PRESIDENT MEMB	40.00	Highest	$173,482	$50,867	$224,349
CHRISTOPHER CASALE	FINANCIAL SERVICES PROGRAM	40.00	Highest	$167,475	$24,851	$192,326

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	$31,030,656	$28,420,802	$744,609,359	$2,609,854
2023	$30,406,557	$27,323,706	$727,623,520	$3,082,851
2022	$27,815,184	$23,465,400	$774,160,950	$4,349,784
2021	$26,906,300	$21,135,016	$705,019,055	$5,771,284
2020	$23,075,681	$19,834,929	$675,306,219	$3,240,752
2019	$22,780,451	$20,957,712	$615,319,959	$1,822,739
2018	$19,708,248	$18,047,841	$602,874,739	$1,660,407