SIKORSKY FINANCIAL CREDIT UNION

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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

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

Program Service Accomplishments

Program 1

Expenses: $40,152,934

SFCU OFFERS SAVINGS AND LOAN PROGRAMS TO ITS MEMBERS. THE SHARE SAVINGS INCLUDE REGUALAR SHARES, DAILY MONEY MARKET ACCOUNTS, EARLY ADVANTAGE ACCOUNTS, COVERDALE ESA, SHARE DRAFT ACCOUNTS AND SHARE...

Program 2

THE LOAN PROGRAM INCLUDES MORTGAGES, AUTO NEW AND USED, RECREATIONAL VEHICLES, CONSUMER AND CREDIT CARD LOANS

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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 $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

Governance

Voting Members

Independent Members

Employees

167

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

$2,339,147

Total Directors

Key Employees

$380,996

Highest Compensated

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