First Choice Community CU

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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

1968

Legal Domicile

Tax Period

2020-01-01 to 2020-12-31

First Choice Community CU, founded in 1968, is a small nonprofit that reported $473K in total revenue in fiscal year 2020. Revenue fell 32% from the prior year — a significant decline worth monitoring. Expenses of $648K exceeded revenue, resulting in a 37% operating deficit.

Mission

A FINANCIAL COOPERATIVE/CREDIT UNION ORGANIZED TO PROVIDE ITS MEMBERS WITH LOW INTEREST LOANS, AND TO PROMOTE SAVINGS AMONG THOSE MEMBERS.

Program Service Accomplishments

Program 1

Expenses: $648,394

PROVIDING LOW COST LOANS TO MEMBERS. PROVIDE SAVINGS VEHICLES AND BANKING TYPE SERVICES FOR THE BENEFIT OF 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 (2020)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $197,675

Investment Income $185,087

Other Revenue $90,397

TOTAL REVENUE $473,159

Expense Breakdown

Grants Paid $0

Salaries & Benefits $286,457

Fundraising Expenses $0

Program Expenses $648,394

Other Expenses $311,083

TOTAL EXPENSES $648,394

Year-over-Year Comparison

	2020	2019	Change
Revenue	$473,159	$694,996	-0.3%
Expenses	$648,394	$657,337	0.0%
Net Income	$-175,235	$37,659	-5.7%

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DEVON STANLEY	BOARD MEMBER	4.00	Director	$0	$0	$0
DEBORAH SGAMBATI	BOARD MEMBER	4.00	Director	$0	$0	$0
CAROL A SOPKOVICH	BOARD MEMBER	4.00	Director	$0	$0	$0
GEORGIANNE PADAVONI	BOARD MEMBER	4.00	Director	$0	$0	$0
KATHLEEN BOWEN	VICE PRESIDENT	4.00	Director	$0	$0	$0
DEANNA KOVACS	BOARD MEMBER-CEO	40.00	Officer Director Key Emp	$0	$0	$0
J DANIEL SGAMBATI	BOARD PRESIDENT	4.00	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
2020	$473,159	$648,394	$20,090,184	$-175,235
2019	$694,996	$657,337	$18,483,252	$37,659
2018	$841,895	$783,730	$19,379,508	$58,165