ILLINOIS COMMUNITY 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

1935

Legal Domicile

Principal Officer

BRAIN MANN

Phone

8158954541

Tax Period

2024-01-01 to 2024-12-31

ILLINOIS COMMUNITY CREDIT UNION, founded in 1935, is a community nonprofit that reported $7.8M in total revenue in fiscal year 2024. Revenue grew 10% year-over-year, indicating healthy expansion. Expenses of $9.7M exceeded revenue, resulting in a 24% operating deficit.

Mission

ILLINOIS COMMUNITY CREDIT UNION IS A MEMBER OWNED FINANCIAL INSTITUTION, DEDICATED TO PROVIDING QUALITY PRODUCTS AND SERVICES THAT MEET THE NEEDS OF OUR MEMBERS AND THE COMMUNITIES WE SERVE.

Program Service Accomplishments

Program 1

PROVIDED SAVINGS AND CHECKING ACCOUNT SERVICES FOR 10,403 MEMBERS. THESE ACCOUNTS INCLUDE CHRISTMAS CLUB ACCOUNTS FOR MEMBERS TO AUTOMATICALLY SET ASIDE A FIXED AMOUNT EACH MONTH, TO BE TRANSFERRED INTO THEIR REGULAR SAVINGS ACCOUNTS IN NOVEMBER OF EACH YEAR. WE ALSO PROVIDE CHECKING ACCOUNTS FOR PEOPLE THAT NORMALLY WOULDN'T QUALIFY FOR CHECKING ACCOUNTS DUE TO NEGATIVE EVENTS IN THEIR PAST BANKING HISTORY, ALONG WITH OTHER CHECKING ACCOUNTS BASED ON WHERE A MEMBER MAY BE IN THEIR FINANCIAL LIFE.

Program 2

ORIGINATED 1,128 LOANS TO MEMBERS, PROVIDING $28,502,596 IN CONSUMER AND RESIDENTIAL LOANS, CREDIT CARDS, FIRST MORTGAGES AND HOME EQUITY LOANS.

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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 $7,416,230

Investment Income $405,806

Other Revenue $6,502

TOTAL REVENUE $7,828,538

Expense Breakdown

Grants Paid $2,500

Salaries & Benefits $2,976,559

Fundraising Expenses $0

Other Expenses $6,718,856

TOTAL EXPENSES $9,697,915

Year-over-Year Comparison

	2024	2023	Change
Revenue	$7,828,538	$7,125,725	+0.1%
Expenses	$9,697,915	$7,323,679	+0.3%
Net Income	$-1,869,377	$-197,954	+8.4%

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

$448,369

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID THURWANGER	CHAIR	2.00	Officer Director	$0	$0	$0
DOUGLAS LINDGREN	VICE-CHAIR	2.00	Officer Director	$0	$0	$0
RICHARD OTT	TREASURER	2.00	Officer Director	$0	$0	$0
DANA CROWLEY	SECRETARY	2.00	Officer Director	$0	$0	$0
STEVE ELSIK	DIRECTOR	2.00	Director	$0	$0	$0
STEVE GARLAND	DIRECTOR	2.00	Director	$0	$0	$0
JOHN LINDEROTH	DIRECTOR	2.00	Director	$0	$0	$0
THOR DOLAN	CEO	40.00	Officer	$245,920	$22,744	$268,664
BRIAN MANN	CFO	40.00	Officer	$149,480	$30,225	$179,705
ADAM FERGUSON	VP OF IT, MARKETING AND OPERATIONS	40.00	Highest	$139,758	$6,248	$146,006

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	$7,828,538	$9,697,915	No data	$-1,869,377
2023	$7,125,725	$7,323,679	$119,783,398	$-197,954
2022	$6,378,212	$5,736,982	$121,524,439	$641,230
2021	$6,166,806	$4,773,628	$112,464,675	$1,393,178
2020	$5,801,907	$5,338,811	$106,077,011	$463,096
2019	$5,615,898	$5,374,283	$98,661,741	$241,615
2018	$4,801,142	$4,967,489	$91,646,869	$-166,347