AMERICAN PRIDE CREDIT UNION

EIN: 230340750

Altoona, PA

Total Revenue
$881,893
Total Expenses
$599,147
Total Assets
$22,393,742
Net Assets
$22,161,629
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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
1932
Legal Domicile
PA
Phone
8009256382
Tax Period
2023-01-01 to 2023-12-31

AMERICAN PRIDE CREDIT UNION, founded in 1932, is a small nonprofit that reported $882K in total revenue in fiscal year 2023. Revenue surged 35% from the prior year, signaling strong growth momentum. The organization ran a surplus of $283K, a strong 32% operating margin.

Mission

The credit union promotes thrift among its members and creates a source of credit at reasonable rates of interest while providing an opportunity for its members to use and control their money on a democratic basis in order to improve their economic and social conditions.

Program Service Accomplishments

Program 1

PROVIDING LOW INTEREST LOANS TO MEMBERS PROVIDING THE OPPORTUNITY FOR MEMBERS TO OPEN CHECKING AND SAVINGS ACCOUNTS AT COMPETITIVE RATES PROVIDING INVESTMENT SERVICES FOR MEMBERS RETIREMENT ACCOUNTS

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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 $312,416
Investment Income $379,329
Other Revenue $190,148
TOTAL REVENUE $881,893

Expense Breakdown

Grants Paid $0
Salaries & Benefits $217,058
Fundraising Expenses $0
Other Expenses $382,089
TOTAL EXPENSES $599,147

Year-over-Year Comparison

2023 2022 Change
Revenue $881,893 $655,228 +0.3%
Expenses $599,147 $569,340 +0.1%
Net Income $282,746 $85,888 +2.3%
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
1897
Independent Members
1897
Employees
8
Volunteers
6

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
7
$163,690
Total Directors
7
$163,690
Key Employees
1
$158,890
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
NICK F SPALLONE PRESIDENT 1.00
Officer Director
$0 $0 $0
JOHN A POTOPA 2ND VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
ROBERT D LENDER TREASURER 1.00
Officer Director
$1,380 $0 $2,760
JON C FRANK SECRETARY 1.00
Officer Director
$1,020 $0 $2,040
DENISE M REEDER DIRECTOR 1.00
Officer Director
$0 $0 $0
JONATHAN E MIFFLIN DIRECTOR 1.00
Officer Director
$0 $0 $0
TED L GLUNT MANAGER/CEO 40.00
Officer Director Key Emp
$73,622 $11,646 $158,890
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 $881,893 $599,147 $22,393,742 $282,746
2022 $655,228 $569,340 $22,591,283 $85,888
2021 $539,358 $516,449 $22,455,987 $22,909
2020 $616,786 $571,238 $20,634,581 $45,548
2019 $705,632 $593,836 $18,240,322 $111,796
2018 $663,433 $579,483 $17,872,226 $83,950
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