NEW YORK CREDIT UNION FOUNDATION

EIN: 161527073 501(c)(3) Community Improvement

ALBANY, NY

Total Revenue
$321,776
Total Expenses
$256,251
Total Assets
$1,238,380
Net Assets
$1,222,131
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1959
Legal Domicile
NY
Principal Officer
WILLIAM J MELLIN
Phone
8003429835
Tax Period
2024-01-01 to 2024-12-31

NEW YORK CREDIT UNION FOUNDATION, founded in 1959, is a small nonprofit in the Community Improvement sector that reported $322K in total revenue in fiscal year 2024. Revenue surged 88% from the prior year, signaling strong growth momentum. The organization ran a surplus of $66K, a strong 20% operating margin.

Mission

FOSTERING THE FINANCIAL INDEPENDENCE OF NEW YORKERS THROUGH CREDIT UNIONS.

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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 (2024)

Revenue Breakdown

Contributions & Grants $237,435
Program Service Revenue $0
Investment Income $49,153
Other Revenue $35,188
TOTAL REVENUE $321,776

Expense Breakdown

Grants Paid $168,080
Salaries & Benefits $0
Fundraising Expenses $6,903
Program Expenses $238,146
Other Expenses $88,171
TOTAL EXPENSES $256,251

Year-over-Year Comparison

2024 2023 Change
Revenue $321,776 $171,122 +0.9%
Expenses $256,251 $250,369 +0.0%
Net Income $65,525 $-79,247 -1.8%
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

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Governance

Voting Members
16
Independent Members
15
Employees
N/A
Volunteers
15

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
6
$1,044,792
Total Directors
16
$613,513
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
WILLIAM MELLIN PRESIDENT / CEO 1.00
Officer Director
$0 $4,771 $613,513
EDWARD KOVALEFSKY CHIEF FINANCIAL OFFICER 1.00
Officer
$0 $779 $222,979
CHRISTOPHER PAJAK COO - ASSOCIATION SERVICES 1.00
Officer
$0 $8,846 $208,300
SHELBY BASKIN TRUSTEE 1.00
Director
$0 $0 $0
CRAIG BOOTH TRUSTEE 1.00
Director
$0 $0 $0
AMY CALABRESE TRUSTEE 1.00
Director
$0 $0 $0
TWANDA CHRISTENSEN TRUSTEE 1.00
Director
$0 $0 $0
ERIC HEPKINS TRUSTEE 1.00
Director
$0 $0 $0
JAMES LANGER TRUSTEE 1.00
Director
$0 $0 $0
KEVIN MIETLICKI TRUSTEE 1.00
Director
$0 $0 $0
KATHRYA PIERRE TRUSTEE 1.00
Director
$0 $0 $0
CHRISTINA SAUVE TRUSTEE 1.00
Director
$0 $0 $0
DOMENIC VERO TRUSTEE 1.00
Director
$0 $0 $0
LAURAN WILSON TRUSTEE 1.00
Director
$0 $0 $0
RICHARD YEAGER TRUSTEE 1.00
Director
$0 $0 $0
TIMOTHY BRUCULERE CHAIR 1.00
Officer Director
$0 $0 $0
KUSEY KIRK VICE-CHAIR 1.00
Officer Director
$0 $0 $0
CAROL ALLEN SECRETARY/TREASURER 1.00
Officer Director
$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 $321,776 $256,251 $1,238,380 $65,525
2023 $171,122 $250,369 $1,172,585 $-79,247
2022 $227,167 $214,296 $1,139,016 $12,871
2021 $185,913 $143,340 $1,264,207 $42,573
2020 $229,526 $237,173 $1,212,842 $-7,647
2019 $271,802 $235,075 $1,195,062 $36,727
2018 $252,545 $261,179 $1,131,520 $-8,634
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