SOURCEONE CREDIT UNION (EIN 361661895) - 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

1935

Legal Domicile

Principal Officer

SCOTT MCDONALD

Phone

8002526950

Tax Period

2022-01-01 to 2022-05-31

SourceOne Credit Union, founded in 1935, is a small nonprofit that reported $326K in total revenue in fiscal year 2018. Expenses of $375K exceeded revenue, resulting in a 15% operating deficit.

Mission

ILLINOIS STATE CHARTERED CREDIT UNION OPERATED FOR THE MUTUAL BENEFIT OF ITS MEMBERS. THE CREDIT UNION MAKES LOANS TO MEMBERS AND PAYS DIVIDENDS TO MEMBERS WITH SHARE DEPOSITS AT A COMPETITIVE RATE OF INTEREST.

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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 (2022)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $57,399

Investment Income $35,841

Other Revenue $26,702

TOTAL REVENUE $119,942

Expense Breakdown

Grants Paid $0

Salaries & Benefits $273,818

Fundraising Expenses $0

Other Expenses $146,761

TOTAL EXPENSES $420,579

Year-over-Year Comparison

	2022	2021	Change
Revenue	$119,942	$369,640	-0.7%
Expenses	$420,579	$304,353	+0.4%
Net Income	$-300,637	$65,287	-5.6%

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

N/A

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

$37,350

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ADRIENNE DEMPSEY	CHAIRMAN	3.00	Director	$0	$0	$0
JOSHUA BEYNE	SECRETARY	1.00	Officer Director	$0	$0	$0
MICHAEL COGOZZO	DIRECTOR	1.00	Director	$0	$0	$0
GREGORY MACK	DIRECTOR	1.00	Director	$0	$0	$0
JOAN JESKE	DIRECTOR	1.00	Director	$0	$0	$0
DIANE KERRILL	DIRECTOR	1.00	Director	$0	$0	$0
TIM WHITE	DIRECTOR	1.00	Director	$0	$0	$0
KEN IVERSEN	DIRECTOR	1.00	Director	$0	$0	$0
DAVE COGOZZO	PRESIDENT/TREASURER	40.00	Officer	$37,350	$0	$37,350

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	$119,942	$420,579	No data	$-300,637
2021	$369,640	$304,353	$11,492,020	$65,287
2020	$306,068	$405,368	$11,313,134	$-99,300
2019	$327,372	$423,662	$10,979,452	$-96,290
2018	$325,824	$375,455	$11,327,981	$-49,631

SOURCEONE CREDIT UNION