WORCESTER CREDIT UNION (EIN 041990205) - 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

1998

Legal Domicile

Principal Officer

LUCAS MILLER

Phone

5088539966

Tax Period

2024-01-01 to 2024-12-31

WORCESTER CREDIT UNION, founded in 1998, is a community nonprofit that reported $4.8M in total revenue in fiscal year 2024. Expenses of $4.1M left a modest 13% surplus.

Mission

CREDIT UNION WITHOUT CAPITAL STOCK ORGANIZED AND OPERATED FOR MUTUAL PURPOSES AND WITHOUT PROFIT.

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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 $3,632,818

Investment Income $1,111,376

Other Revenue $12,333

TOTAL REVENUE $4,756,527

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,342,052

Fundraising Expenses $0

Other Expenses $2,801,625

TOTAL EXPENSES $4,143,677

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,756,527	$4,719,033	+0.0%
Expenses	$4,143,677	$3,960,168	+0.0%
Net Income	$612,850	$758,865	-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

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

$214,647

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROBERT HENNIGAN	CHAIRMAN	2.00	Officer Director	$0	$0	$0
PAULA HARRITY	VICE-CHAIR	2.00	Officer Director	$0	$0	$0
JOHN LAURING	TREASURER	2.00	Officer Director	$0	$0	$0
MICHAEL TRAYNOR	SECRETARY	2.00	Officer Director	$0	$0	$0
KONSTANTIN ELIADI	DIRECTOR	2.00	Director	$0	$0	$0
DAVID MOORE	DIRECTOR	2.00	Director	$0	$0	$0
JULIE PARENTEAU	DIRECTOR	2.00	Director	$0	$0	$0
JOHN PRANCKEVICIOUS	DIRECTOR	2.00	Director	$0	$0	$0
SHARON WOODBURY	DIRECTOR	2.00	Director	$0	$0	$0
LISA PERRIN	OUTGOING PRESIDENT/CEO	40.00	Officer	$113,897	$27,481	$141,378
LUCAS J MILLER	INCOMING PRESIDENT/CEO	40.00	Officer	$73,269	$0	$73,269

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	$4,756,527	$4,143,677	$96,506,337	$612,850
2023	$4,719,033	$3,960,168	$98,463,592	$758,865
2022	$3,533,968	$3,224,289	$105,060,405	$309,679
2021	$3,800,689	$3,016,123	$107,267,095	$784,566
2020	$3,911,731	$3,429,308	$106,731,810	$482,423
2019	$3,906,223	$3,646,969	$81,833,951	$259,254
2018	$3,711,455	$3,507,023	$80,628,970	$204,432

WORCESTER CREDIT UNION