CRANSTON MUNICIPAL EMPLOYEES CREDIT UNION (EIN 050255777) - 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

1946

Legal Domicile

Principal Officer

BRIAN W DUCHARME

Phone

4014633010

Tax Period

2023-01-01 to 2023-12-31

CRANSTON MUNICIPAL EMPLOYEES CREDIT UNION, founded in 1946, is a community nonprofit in the Public & Societal Benefit sector that reported $3.2M in total revenue in fiscal year 2023. Expenses of $3.0M left a modest 7% surplus.

Mission

THE MISSION OF THE CRANSTON MUNICIPAL EMPLOYEES CREDIT UNION IS TO PROVIDE OPPORTUNITY FOR MEMBERS TO SAVE AND BORROW FOR CURRENT AND FUTURE NEEDS AT A FINANCIALLY STRONG, MEMBER OWNED COOPERATIVE RESPONSIVE TO THEIR EXPANDING FINANCIAL SERVICE NEEDS. THE CREDIT UNION SEEKS TO PROVIDE OUTSTANDING SERVICE AT FAIR AND FAVORABLE RATES AND TERMS.

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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 $2,343,943

Investment Income $891,551

Other Revenue $220

TOTAL REVENUE $3,235,714

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,058,366

Fundraising Expenses $0

Other Expenses $1,949,512

TOTAL EXPENSES $3,007,878

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,235,714	$3,389,214	0.0%
Expenses	$3,007,878	$1,932,014	+0.6%
Net Income	$227,836	$1,457,200	-0.8%

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

$397,202

Total Directors

$277,536

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEPHEN P HOGAN	CHAIRPERSON	5.00	Officer Director	$10,155	$0	$10,155
JOSEPH A BALDUCCI	VICE-CHAIRPE	2.00	Officer Director	$4,365	$0	$4,365
BRIAN W DUCHARME	TREASURER/PR	40.00	Officer Director	$192,178	$30,458	$222,636
MARIA K MANZI	ASSISTANT TR	2.00	Officer Director	$4,635	$0	$4,635
JOHN R ZOLLI JR	SECRETARY	2.00	Officer Director	$7,135	$0	$7,135
BETTE ANN BERK	BOARD MEMBER	2.00	Director	$2,505	$0	$2,505
THOMAS M MILEWSKI	BOARD MEMBER	2.00	Director	$2,040	$0	$2,040
RICHARD DEGRANDPRE	BOARD MEMBER	2.00	Director	$2,220	$0	$2,220
PETER J LECLERC	BOARD MEMBER	2.00	Director	$2,280	$0	$2,280
DONALD SALVATORE JR	BOARD MEMBER	2.00	Director	$2,160	$0	$2,160
JOSEPH MORRIS	BOARD MEMBER	2.00	Director	$2,160	$0	$2,160
JASON ANDOSCIA	BOARD MEMBER	2.00	Director	$0	$0	$0
PATRICIA CRUZ	BOARD MEMBER	2.00	Director	$0	$0	$0
GAIL TOPAKIAN	CREDIT COMMI	5.00	Director	$5,690	$0	$5,690
ANTHONY J VECCHIO	CREDIT COMMI	5.00	Director	$3,430	$0	$3,430
BRYAN BAPTISTE	CREDIT COMMI	40.00	Officer	$141,972	$6,304	$148,276
JOSEPH DILORENZO	SUPERVISORY	3.00	Director	$3,630	$0	$3,630
MICHAEL J IGOE	SUPERVISORY	3.00	Director	$1,630	$0	$1,630
ROBERT F STROM	SUPERVISORY	3.00	Director	$865	$0	$865

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	$3,235,714	$3,007,878	$83,595,085	$227,836
2022	$3,389,214	$1,932,014	$73,342,756	$1,457,200
2021	$1,978,512	$1,789,836	$70,232,096	$188,676
2020	$1,809,684	$1,541,474	$64,349,515	$268,210
2019	$2,185,466	$1,653,849	$58,283,378	$531,617
2018	$1,795,661	$1,475,447	$57,796,041	$320,214

CRANSTON MUNICIPAL EMPLOYEES CREDIT UNION