SIKORSKY FINANCIAL CREDIT UNION

EIN: 060634736

STRATFORD, CT

Total Revenue
$58,318,754
Total Expenses
$40,152,934
Total Assets
$1,263,639,851
Net Assets
$142,865,076
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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
CT
Tax Period
2023-01-01 to 2023-12-31

SIKORSKY FINANCIAL CREDIT UNION, founded in 1948, is a mid-sized nonprofit that reported $58.3M in total revenue in fiscal year 2023. Revenue surged 41% from the prior year, signaling strong growth momentum. The organization ran a surplus of $18.2M, a strong 31% operating margin.

Mission

SIKORSKY FINANCIAL CREDIT UNION IS COMMITTED TO ACT IN THE BEST INTEREST OF ITS MEMBERSHIP

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $39,566,709
Investment Income $13,276,181
Other Revenue $5,475,864
TOTAL REVENUE $58,318,754

Expense Breakdown

Grants Paid $0
Salaries & Benefits $15,279,467
Fundraising Expenses $0
Program Expenses $40,152,934
Other Expenses $24,873,467
TOTAL EXPENSES $40,152,934

Year-over-Year Comparison

2023 2022 Change
Revenue $58,318,754 $41,268,421 +0.4%
Expenses $40,152,934 $29,611,028 +0.4%
Net Income $18,165,820 $11,657,393 +0.6%
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

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Governance

Voting Members
11
Independent Members
11
Employees
167
Volunteers
11

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
4
$2,339,147
Total Directors
15
$0
Key Employees
1
$380,996
Highest Compensated
7
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
VINCENT CIAMBRIELLO JR PRESIDENTCEO 37.50
Officer
$1,008,015 $57,434 $1,065,449
CHARLES K HODDINOTT EVPCOO 37.50
Officer
$387,637 $61,269 $448,906
BENJAMIN W CITRIN SVPCFO 37.50
Officer
$368,230 $65,984 $434,214
KENNETH S FERRARI SVP CHIEF LENDING OFFICER 37.50
Officer
$331,871 $58,707 $390,578
ALFRED S POSEY SVP CIO 37.50
Key Emp
$327,417 $53,579 $380,996
ANN MARIE GILLICK SVPCHIEF HR OFFICER 37.50
Highest
$282,508 $54,805 $337,313
LEE A STATER HOME LOAN SALES MGR 37.50
Highest
$193,656 $37,189 $230,845
JOSEPH P NUZZO VP BUS LENDING 37.50
Highest
$196,276 $34,055 $230,331
LUCIA PANICO VP OF RETAIL BANKING 37.50
Highest
$157,157 $14,185 $171,342
ANN MARIE MARREIROS VP DEPOSIT OPERATIONS 37.50
Highest
$160,582 $7,653 $168,235
DIANA E PFEIFFER VP LOAN SERVICING & COLLECTIO 37.50
Highest
$158,565 $5,554 $164,119
LYDIA KROHELSKI SUP COMM 2.50
Director
$0 $0 $0
FABIENNE DESRAVINES SUP COMM 2.50
Director
$0 $0 $0
MAUREEN M FINO BOARD MEMBER 2.50
Director
$0 $0 $0
RICHARD KOLLET TREASURER 2.50
Director
$0 $0 $0
GEOFFREY R HERALD BOARD MEMBER 2.50
Director
$0 $0 $0
WILLIAM F SCHLENK JR CHAIRPERSON OF THE BOARD 2.50
Director
$0 $0 $0
ROBERT J DAVID CHAIRPERSON OF FINANCE & ENTE 2.50
Director
$0 $0 $0
ELIZABETH H DORNEY CHAIRPERSON OF STRATEGIC PLAN 2.50
Director
$0 $0 $0
JOSEPH A KUBIC SECRETARY 2.50
Director
$0 $0 $0
JEFFREY LACZKOSKI SEC SUP COMM 2.50
Director
$0 $0 $0
PAUL AURELIA SUP COMM 2.50
Director
$0 $0 $0
SANDRA L POSCA CHAIRPERSON SUP COMM 2.50
Director
$0 $0 $0
CAROL E NAVARRO 2ND VICE CHAIRPERSON 2.50
Director
$0 $0 $0
JOHN PAWLOWSKI CHAIRPERSON OF TECH COMMITTEE 2.50
Director
$0 $0 $0
JAMES PRUSACZYK 1ST VICE CHAIRPERSON 2.50
Director
$0 $0 $0
TIMOTHY C CAHILL HOME LOAN CONSULTANT 37.50
Highest
$0 $0 $0
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 $58,318,754 $40,152,934 $1,263,639,851 $18,165,820
2022 $41,268,421 $29,611,028 $1,128,876,808 $11,657,393
2021 $34,623,993 $28,796,078 $1,094,000,567 $5,827,915
2020 $32,836,740 $28,155,637 $949,372,007 $4,681,103
2019 $34,353,683 $28,055,675 $775,533,362 $6,298,008
2018 $32,305,541 $26,303,310 $740,060,013 $6,002,231
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