AMERICAN FIRST CREDIT UNION (EIN 330358683) - 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

1989

Legal Domicile

Principal Officer

JON SHIGEMATSU

Phone

8002901112

Tax Period

2023-01-01 to 2023-12-31

AMERICAN FIRST CREDIT UNION, founded in 1989, is a mid-sized nonprofit that reported $50.1M in total revenue in fiscal year 2023. Revenue surged 31% from the prior year, signaling strong growth momentum. Expenses of $47.3M left a modest 6% surplus.

Mission

A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS.

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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 $45,801,583

Investment Income $4,328,810

Other Revenue $0

TOTAL REVENUE $50,130,393

Expense Breakdown

Grants Paid $31,862

Salaries & Benefits $14,364,018

Fundraising Expenses $0

Other Expenses $32,924,256

TOTAL EXPENSES $47,320,136

Year-over-Year Comparison

	2023	2022	Change
Revenue	$50,130,393	$38,362,006	+0.3%
Expenses	$47,320,136	$31,819,977	+0.5%
Net Income	$2,810,257	$6,542,029	-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

158

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

$1,852,938

Total Directors

$298

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TOM COOK	CHAIRMAN	1.00	Director	$0	$0	$0
ROGER VANDER WENDE	VICE CHAIRPERSON	1.00	Director	$0	$0	$0
JASON PHILIBERT	BOARD TREASURER	1.00	Director	$298	$0	$298
AMANDA SECOLA	BOARD SECRETARY	1.00	Director	$0	$0	$0
ERIC LEDESMA	DIRECTOR	1.00	Director	$0	$0	$0
PATTI MALOTT	DIRECTOR	1.00	Director	$0	$0	$0
DONNA BROOKS	DIRECTOR	1.00	Director	$0	$0	$0
GIZI CLEMMER	SUPV CMTE CHAIRPERSON	1.00	Director	$0	$0	$0
DAVID WEED	SUPV CMTE VICE CHAIRPERSON	1.00	Director	$0	$0	$0
ROBERT WARKENTON	SUPV CMTE MEMBER	1.00	Director	$0	$0	$0
CARI MEDINA	SUPV CMTE MEMBER	1.00	Director	$0	$0	$0
JAMES HABBEN	SUPV CMTE MEMBER	1.00	Director	$0	$0	$0
JON SHIGEMATSU	CEO/PRESIDENT	40.00	Officer	$569,230	$53,857	$623,087
FRANK BORAWSKI	CFO	40.00	Officer	$267,370	$10,260	$277,630
THERESA DAVY	COO	40.00	Officer	$316,769	$31,680	$348,449
ROBERT FARRINGTON	SR VP COMMERCIAL REAL ESTA	40.00	Officer	$290,356	$49,293	$339,649
PAUL WELCH	SVP OF RISK MANAGEMENT	40.00	Officer	$255,314	$8,809	$264,123
VICTOR GALLEGO	COMMERCIAL RE LOAN OFFICER	40.00	Highest	$253,933	$45,390	$299,323
MICHAEL WILLIAMS	VP OF CONSUMER LENDING	40.00	Highest	$204,390	$26,505	$230,895
DWIGHT MCDANIEL	BUSINESS DEVELOPMENT	40.00	Highest	$197,117	$16,017	$213,134
CARLOS RAMIREZ	AVP REAL ESTATE	40.00	Highest	$197,026	$42,248	$239,274
MICHAEL PEPIN	VP DELIVERY & TECHNOLOGY	40.00	Highest	$165,404	$15,161	$180,565

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	$50,130,393	$47,320,136	$1,000,374,146	$2,810,257
2022	$38,362,006	$31,819,977	$978,621,575	$6,542,029
2021	$36,268,439	$28,075,649	$842,360,435	$8,192,790
2020	$37,159,710	$33,585,267	$817,836,025	$3,574,443
2019	$38,269,645	$32,726,314	$783,769,691	$5,543,331
2018	$37,408,974	$28,880,308	$782,981,054	$8,528,666

AMERICAN FIRST CREDIT UNION