GREENWOOD CREDIT UNION INC (EIN 050254228) - 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

1948

Legal Domicile

Principal Officer

FREDERICK REINHARDT

Phone

4017394600

Tax Period

2023-01-01 to 2023-12-31

GREENWOOD CREDIT UNION INC, founded in 1948, is a mid-sized nonprofit that reported $43.6M in total revenue in fiscal year 2023. Revenue surged 24% from the prior year, signaling strong growth momentum. Expenses of $39.6M left a modest 9% surplus.

Mission

THE CREDIT UNION IS AN ASSOCIATION OWNED BY ITS MEMBER DEPOSITORS. INTEREST INCOME FROM LOANS AND INVESTMENTS ALLOW THE CREDIT UNION TO PROVIDE LOW COST FINANCIAL SERVICES TO ITS MEMBERS.

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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 $41,858,409

Investment Income $1,746,450

Other Revenue $0

TOTAL REVENUE $43,604,859

Expense Breakdown

Grants Paid $0

Salaries & Benefits $8,379,632

Fundraising Expenses $0

Other Expenses $31,185,950

TOTAL EXPENSES $39,565,582

Year-over-Year Comparison

	2023	2022	Change
Revenue	$43,604,859	$35,042,007	+0.2%
Expenses	$39,565,582	$26,356,076	+0.5%
Net Income	$4,039,277	$8,685,931	-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

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

$1,269,379

Total Directors

$405,929

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
FREDERICK REINHARDT	CEO	40.00	Officer	$423,239	$32,899	$456,138
HOLLY FERRARA	VP RETAIL LE	40.00	Highest	$253,925	$29,634	$283,559
JENNIFER LAFRANCE	COO	40.00	Officer	$214,860	$30,353	$245,213
MARIANNE VARATTA	SENIOR VP/DI	40.00	Officer Director	$221,877	$15,452	$237,329
ANDREW BROWN	CFO	40.00	Officer	$208,492	$10,407	$218,899
THERESA BROPHY	SVP, HUMAN R	40.00	Highest	$141,580	$26,750	$168,330
THOMAS AHERN	CHAIRMAN/DIR	5.00	Officer Director	$38,000	$0	$38,000
KAREN SD GRANDE ESQ	VICE CHAIR/D	4.00	Officer Director	$26,000	$0	$26,000
SANDRA POWELL	BOARD SECRET	1.00	Officer Director	$24,200	$0	$24,200
PHILIP SLOCUM	TREASURER	1.00	Officer Director	$23,600	$0	$23,600
BRIAN MCGUIRK	DIRECTOR	1.00	Director	$16,400	$0	$16,400
MICHAEL TIKOIAN	DIRECTOR	1.00	Director	$15,500	$0	$15,500
CARRIE BRIDGES FELIZ	DIRECTOR	1.00	Director	$14,300	$0	$14,300
ROSS NELSON	DIRECTOR	1.00	Director	$10,600	$0	$10,600

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	$43,604,859	$39,565,582	$868,582,162	$4,039,277
2022	$35,042,007	$26,356,076	$792,476,276	$8,685,931
2021	$32,311,818	$23,564,392	$681,592,383	$8,747,426
2020	$30,056,335	$25,830,314	$649,024,883	$4,226,021
2019	$26,854,337	$23,887,701	$580,210,494	$2,966,636
2018	$21,957,921	$18,575,769	$552,002,117	$3,382,152

GREENWOOD CREDIT UNION INC