LIBERTY BAY CREDIT UNION (EIN 041896000) - 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

1917

Legal Domicile

Principal Officer

FREDERICK WILLIAMS

Phone

6174396500

Tax Period

2023-01-01 to 2023-12-31

LIBERTY BAY CREDIT UNION, founded in 1917, is a mid-sized nonprofit in the Public & Societal Benefit sector that reported $33.3M in total revenue in fiscal year 2023. Revenue surged 21% from the prior year, signaling strong growth momentum. Expenses of $29.9M left a modest 10% surplus.

Mission

TO OFFER FINANCIAL SERVICES.

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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 $0

Program Service Revenue $28,988,836

Investment Income $4,303,979

Other Revenue $0

TOTAL REVENUE $33,292,815

Expense Breakdown

Grants Paid $13,000

Salaries & Benefits $10,766,324

Fundraising Expenses $0

Other Expenses $19,075,463

TOTAL EXPENSES $29,854,787

Year-over-Year Comparison

	2023	2022	Change
Revenue	$33,292,815	$27,516,942	+0.2%
Expenses	$29,854,787	$20,735,203	+0.4%
Net Income	$3,438,028	$6,781,739	-0.5%

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

$2,574,654

Total Directors

$49,144

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GERARD BURM	DIRECTOR	2.00	Director	$0	$51	$51
THOMAS J FLYNN	DIRECTOR	2.00	Director	$0	$82	$82
EDWARD R FOLEY	CHAIRMAN	2.00	Director	$0	$82	$82
PATRICK J FOLEY	DIRECTOR	2.00	Director	$0	$204	$204
ROBERT B FOLEY JR	TREASURER	2.00	Director	$12,000	$133	$12,133
STEPHEN J KELLEY SR	DIRECTOR	2.00	Director	$0	$51	$51
EUGENE LEAHY	DIRECTOR	2.00	Director	$0	$51	$51
EDWARD MCCOLGAN	DIRECTOR	2.00	Director	$0	$82	$82
MICHAEL F MCCARTHY	DIRECTOR	2.00	Director	$0	$51	$51
ROBERT J MITCHELL	DIRECTOR	2.00	Director	$0	$51	$51
WILLIAM MURPHY	DIRECTOR	2.00	Director	$0	$51	$51
SEAN CASHMAN	SECRETARY	2.00	Director	$12,000	$204	$12,204
PETER LINCOLN	CHAIRMAN	6.00	Director	$24,000	$51	$24,051
JOHN PARILLO	PRESIDENT & CEO	40.00	Officer	$798,985	$45,085	$844,070
KATHERINE PEILA	CHIEF ADMINISTRATIVE OFFICER	40.00	Officer	$238,329	$36,565	$274,894
JOSEPH BEARS	SVP & CIO	40.00	Officer	$227,666	$56,892	$284,558
FREDERICK WILLIAMS	SVP & CHIEF FINANCIAL OFFICER	40.00	Officer	$238,576	$54,127	$292,703
PAUL GRAVELLESE	SVP & SENIOR LENDING OFFICER	40.00	Officer	$224,620	$52,731	$277,351
GEORGE KELLY	SVP & CHIEF STRATEGY OFFICER	40.00	Officer	$225,786	$52,848	$278,634
MARK CONSTABLE	CHIEF COMPLIANCE & CRA OFFICER	40.00	Officer	$141,646	$18,384	$160,030
BRENDA MCGILLICUDDY	SVP PEOPLE OPERATIONS	40.00	Officer	$137,568	$24,846	$162,414
CINDI CARLSON	VP BRAND & MEMBER EXPERIENCE	40.00	Highest	$142,836	$26,968	$169,804
PAOLA FERRARA	MORTGAGE LOAN OFFICER	40.00	Highest	$152,963	$44,818	$197,781
JAMES DOWLING	CONTROLLER	40.00	Highest	$168,857	$46,555	$215,412
MARGUERITE MURPHY	VP MORTGAGE	40.00	Highest	$158,838	$28,890	$187,728
SEAN CHASE	BUSINESS BANKING OFFICER	40.00	Highest	$136,263	$29,853	$166,116
MAURICE MATTESON	FORMER PRESIDENT/CEO	40.00		$459,032	$11,080	$470,112

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	$33,292,815	$29,854,787	$785,580,175	$3,438,028
2022	$27,516,942	$20,735,203	$743,994,815	$6,781,739
2021	$24,208,397	$23,163,998	$714,665,238	$1,044,399
2020	$25,749,984	$24,417,222	$701,131,908	$1,332,762
2019	$28,578,672	$27,519,533	$669,863,600	$1,059,139
2018	$25,866,948	$24,997,504	$667,405,233	$869,444

LIBERTY BAY CREDIT UNION