PAINESVILLE 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

1941

Legal Domicile

Principal Officer

LORI GUZZI

Phone

4403528974

Tax Period

2023-01-01 to 2023-12-31

PAINESVILLE CREDIT UNION, founded in 1941, is a community nonprofit that reported $2.4M in total revenue in fiscal year 2023. Revenue surged 34% from the prior year, signaling strong growth momentum. The organization ran a surplus of $615K, a strong 25% operating margin.

Mission

TO PROMOTE THRIFT IN ITS MEMBERS BY PROVIDING LENDING, SAVINGS AND OTHER FINANCIAL SERVICES TO QUALIFIED MEMBERS.

Program Service Accomplishments

Program 1

OUR PRIMARY SERVICE IS LENDING, AND THE REVENUE THAT WE RECEIVE IS IN THE FORM OF INTEREST AND FEES ON LOANS. THE FUNDS THAT WE LOAN OUT ARE THOSE THAT HAVE BEEN DEPOSITED BY OUR MEMBERS, SO THE...

OUR PRIMARY SERVICE IS LENDING, AND THE REVENUE THAT WE RECEIVE IS IN THE FORM OF INTEREST AND FEES ON LOANS. THE FUNDS THAT WE LOAN OUT ARE THOSE THAT HAVE BEEN DEPOSITED BY OUR MEMBERS, SO THE EXPENSES--THE COST OF THOSE FUNDS--ARE THE DIVIDENDS THAT WE PAY ON THESE DEPOSITS PLUS ANY INTEREST THAT WE PAY ON FUNDS THAT WE NEED TO BORROW.

Program 2

WE ALSO OFFER SHARE DRAFT-CHECKING ACCOUNT WITH ATM CARDS. WE RECEIVE REVENUE FROM THE MEMBERS BY PROVIDING THESE SERVICES AND INCUR COSTS AS WELL.

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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 $1,929,282

Investment Income $507,760

Other Revenue $0

TOTAL REVENUE $2,437,042

Expense Breakdown

Grants Paid $0

Salaries & Benefits $741,716

Fundraising Expenses $0

Other Expenses $975,224

TOTAL EXPENSES $1,822,310

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,437,042	$1,819,388	+0.3%
Expenses	$1,822,310	$1,521,353	+0.2%
Net Income	$614,732	$298,035	+1.1%

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

Governance

Voting Members

Independent Members

Employees

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

$251,879

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KENNETH TAKACS	BOARD CHAIR	3.00	Officer Director	$0	$0	$0
DAVID SHOOK	BOARD MEMBER	1.00	Director	$0	$0	$0
DEBBIE DOMINISH	BOARD MEMBER	2.00	Director	$0	$0	$0
REX BUCHS	BOARD VICE CHAIR	1.00	Director	$0	$0	$0
TIM MURPHY	BOARD MEMBER	1.00	Director	$0	$0	$0
ALI PALECEK	BOARD MEMBER	1.00	Director	$0	$0	$0
TOBY BURGETT	BOARD MEMBER	2.00	Director	$0	$0	$0
LORI GUZZI	CEO	50.00	Officer	$130,176	$0	$130,176
LYNNE KLINE	COO	40.00	Officer	$121,703	$0	$121,703

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	$2,437,042	$1,822,310	$43,929,411	$614,732
2022	$1,819,388	$1,521,353	$46,622,160	$298,035
2021	$1,755,766	$1,459,272	$41,499,673	$296,494
2020	$1,796,420	$1,392,256	$36,453,806	$404,164
2019	$1,955,674	$1,467,516	$30,308,191	$488,158
2018	$1,765,080	$1,487,529	$31,279,527	$277,551