ENCURAGE FINANCIAL NETWORK CREDIT UNION (EIN 361855525) - 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

1936

Legal Domicile

Principal Officer

MICHAEL ABRAHAM

Phone

8009827850

Tax Period

2024-01-01 to 2024-05-31

ENCURAGE FINANCIAL NETWORK CREDIT UNION, founded in 1936, is a community nonprofit that reported $5.2M in total revenue in fiscal year 2023. Revenue fell 60% from the prior year — a significant decline worth monitoring. Expenses of $5.9M exceeded revenue, resulting in a 13% operating deficit.

Mission

ENCOURAGE THRIFT AMONG ITS MEMBERS AND PROVIDE A SOURCE OF CREDIT AT REASONABLE INTEREST RATES.

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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 $4,920,199

Investment Income $284,993

Other Revenue $16,706

TOTAL REVENUE $5,221,898

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,270,461

Fundraising Expenses $0

Other Expenses $4,628,762

TOTAL EXPENSES $5,899,223

Year-over-Year Comparison

	2023	2022	Change
Revenue	$5,221,898	$12,973,055	-0.6%
Expenses	$5,899,223	$13,898,964	-0.6%
Net Income	$-677,325	$-925,909	-0.3%

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

$267,545

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
WILLIAM HARLAN	CHAIRPERSON	1.00	Officer Director	$0	$0	$0
TOM MONTICELLO	VICE CHAIRPERSON	1.00	Officer Director	$0	$0	$0
MICHAEL GEBHARDT	SECRETARY	1.00	Officer Director	$0	$0	$0
JAMIE BERRA	TREASURER	1.00	Director	$0	$0	$0
POLLY KOSYLA	DIRECTOR	1.00	Director	$0	$0	$0
DIONNE LEWIS	DIRECTOR	1.00	Director	$0	$0	$0
JOSE PEREZ	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL ABRAHAM	PRESIDENT/CEO	40.00	Officer	$145,980	$18,369	$164,349
WILLIAM LUMP	CFO	40.00	Officer	$96,596	$6,600	$103,196

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	$5,221,898	$5,899,223	No data	$-677,325
2023	$12,973,055	$13,898,964	$219,005,750	$-925,909
2022	$7,839,792	$7,051,869	$177,453,797	$787,923
2021	$7,217,115	$6,062,298	$120,386,387	$1,154,817
2020	$8,854,560	$7,903,525	$104,699,125	$951,035
2019	$6,658,350	$6,190,335	$91,957,974	$468,015
2018	$5,007,535	$5,058,674	$95,698,439	$-51,139

ENCURAGE FINANCIAL NETWORK CREDIT UNION