AKRON FIRE POLICE CREDIT UNION INC

EIN: 340057810

AKRON, OH

Total Revenue
$1,311,591
Total Expenses
$1,185,006
Total Assets
$36,367,547
Net Assets
$2,122,489
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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
1936
Legal Domicile
OH
Principal Officer
DOUG CINCURAK
Phone
3307981994
Tax Period
2022-01-01 to 2022-12-31

AKRON FIRE POLICE CREDIT UNION INC, founded in 1936, is a community nonprofit that reported $1.3M in total revenue in fiscal year 2022. Revenue grew 18% year-over-year, indicating healthy expansion. Expenses of $1.2M left a modest 10% surplus.

Mission

TO PROVIDE LENDING, SAVINGS, AND OTHER FINANCIAL SERVICES TO ITS QUALIFYING MEMBERS AT TERMS GENERALLY BETTER THAN AVAILABLE IN THE MARKETPLACE AND WITH A "SERVICE-BASED EMPHASIS" THAT RECOGNIZES THE MEMBERS' STATUS AS "OWNERS".

Program Service Accomplishments

Program 1

DIVIDENDS AND INTEREST PAID TO MEMBERS ON 6,329 DEPOSIT ACCOUNTS HELD BY APPROXIMATELY 3,657 MEMBERS.

Program 2

DIRECT LABOR AND EMPLOYEE BENEFIT COSTS INCURRED PROVIDING SAVINGS DEPOSIT SERVICES, ORIGINATING NEW LOANS AND SERVICING THE LOAN PORTFOLIO FOR MEMBERS.

Program 3

DATA PROCESSING COSTS INCURRED RECORDING MEMBER ACCOUNT ACTIVITY AND PROVIDING ACCESS TO MEMBERS' 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 (2022)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $1,142,026
Investment Income $169,565
Other Revenue $0
TOTAL REVENUE $1,311,591

Expense Breakdown

Grants Paid $0
Salaries & Benefits $459,505
Fundraising Expenses $0
Other Expenses $722,690
TOTAL EXPENSES $1,185,006

Year-over-Year Comparison

2022 2021 Change
Revenue $1,311,591 $1,111,360 +0.2%
Expenses $1,185,006 $1,142,596 +0.0%
Net Income $126,585 $-31,236 -5.1%
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
9
Independent Members
9
Employees
8
Volunteers
9

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
5
$36,923
Total Directors
10
$36,923
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DOUG CINCURAK CEO 40.00
Officer Director
$36,923 $0 $36,923
PAUL AMONETT DIRECTOR 1.00
Director
$0 $0 $0
JAMES FEEMAN DIRECTOR 1.00
Director
$0 $0 $0
GERRY FORNEY DIRECTOR 1.00
Director
$0 $0 $0
RICHARD GLEGHORN PRESIDENT 1.00
Officer Director
$0 $0 $0
FORREST KAPPLER DIRECTOR 1.00
Director
$0 $0 $0
KAITLIN KELL SECRETARY 1.00
Officer Director
$0 $0 $0
AGOSTINO MICOZZI DIRECTOR 1.00
Director
$0 $0 $0
JOHNNIE PLAYER TREASURER 1.00
Officer Director
$0 $0 $0
ALBERT SMITH VICE PRESIDE 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
2022 $1,311,591 $1,185,006 $36,367,547 $126,585
2021 $1,111,360 $1,142,596 $36,528,676 $-31,236
2021 $1,111,360 $1,142,596 $36,528,676 $-31,236
2020 $1,131,094 $1,166,432 $31,761,117 $-35,338
2019 $1,255,523 $1,346,823 $28,852,588 $-91,300
2018 $1,177,028 $1,175,794 $28,186,966 $1,234
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