INDIANA MEMBERS CREDIT UNION (EIN 350997241) - 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

1956

Legal Domicile

Principal Officer

John Newett

Phone

3177880366

Tax Period

2024-01-01 to 2024-12-31

INDIANA MEMBERS CREDIT UNION, founded in 1956, is a major nonprofit in the Human Services sector that reported $182.9M in total revenue in fiscal year 2024. Revenue surged 23% from the prior year, signaling strong growth momentum. Expenses of $155.6M left a modest 15% surplus.

Mission

State-chartered credit union.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $111,911,679

Investment Income $40,159,096

Other Revenue $30,813,228

TOTAL REVENUE $182,884,003

Expense Breakdown

Grants Paid $0

Salaries & Benefits $44,784,140

Fundraising Expenses $0

Program Expenses $0

Other Expenses $110,814,872

TOTAL EXPENSES $155,599,012

Year-over-Year Comparison

	2024	2023	Change
Revenue	$182,884,003	$148,731,192	+0.2%
Expenses	$155,599,012	$124,463,392	+0.3%
Net Income	$27,284,991	$24,267,800	+0.1%

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

552

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

$5,786,231

Total Directors

$278,901

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
John Newett	CEO	40	Officer	$868,346	$67,487	$935,833
Todd Habig	CFO	40	Officer	$458,559	$67,487	$526,046
Justin Sinders	Chief Strategy Officer	40	Officer	$352,153	$67,487	$419,640
Luke Yaeger	Market President	40	Officer	$333,603	$65,958	$399,561
Patrick Murphy	Senior Vice President	40	Officer	$326,373	$67,487	$393,860
Jeffrey Hawkins	Senior Vice President	40	Officer	$298,365	$63,802	$362,167
Tom Wellman	Chief Risk Officer	40	Officer	$286,393	$62,926	$349,319
Scott Mann	Chief Retail Officer	40	Officer	$280,389	$61,020	$341,409
Thorpe Miller	Chief Marketing Officer	40	Officer	$237,825	$53,798	$291,623
Gregory Perrey	Financial Services Advisor	40	Highest	$237,434	$53,547	$290,981
John Schenk	Vice President	40	Officer	$233,349	$52,047	$285,396
Bill White	Market President	40	Officer	$234,894	$36,083	$270,977
Chantelle Sparks	Senior Vice President	40	Officer	$218,804	$50,815	$269,619
Daren Johnson	Senior Commercial Loan Officer	40	Highest	$229,210	$37,202	$266,412
Daniel Collier	Assistant Vice Pres	40	Highest	$221,945	$43,056	$265,001
Daralyn Schneider	Senior Vice President	40	Officer	$210,335	$49,240	$259,575
Amanda Emery	Vice President	40	Officer	$202,663	$48,058	$250,721
Brian Woods	Senior Commercial Loan Officer	40	Highest	$202,153	$45,984	$248,137
Kathleen Mitchell	Vice President	40	Officer	$177,058	$44,286	$221,344
Connie Tyler	Vice President	40	Officer	$165,664	$43,477	$209,141
Diana Couch	Senior Mortgage Loan Originator	40	Highest	$187,117	$20,597	$207,714
Robert Martin	Chairman	8	Director	$56,443	$0	$56,443
Nicholas Kellum	Vice Chairman	5	Director	$41,000	$0	$41,000
Maggie Miller	Secretary	3	Director	$37,450	$0	$37,450
Michael Ney	Treasurer	3	Director	$33,950	$0	$33,950
Joe Schulz	Board Member	2	Director	$26,659	$0	$26,659
Kim Hodges	Board Member	2	Director	$22,875	$0	$22,875
Jacqueline Blackwell	Board Member	2	Director	$22,675	$0	$22,675
Bert Kite	Board Member	2	Director	$21,674	$0	$21,674
Ann Schneider	Board Member	2	Director	$16,175	$0	$16,175

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	$182,884,003	$155,599,012	$3,201,121,597	$27,284,991
2023	$148,731,192	$124,463,392	$2,916,013,644	$24,267,800
2022	$115,174,004	$90,250,010	$2,918,005,380	$24,923,994
2021	$103,498,677	$79,375,140	$2,988,099,189	$24,123,537
2020	$102,436,620	$82,735,808	$2,660,055,478	$19,700,812
2020	$102,436,620	$82,735,808	$2,660,055,478	$19,700,812
2019	$91,570,377	$75,220,637	$2,049,333,843	$16,349,740
2018	$77,290,104	$64,268,489	$1,913,692,442	$13,021,615

INDIANA MEMBERS CREDIT UNION