ILLINOIS STATE CREDIT UNION

EIN: 370805312

NORMAL, IL

Total Revenue
$13,360,929
Total Expenses
$11,912,390
Total Assets
$205,398,895
Net Assets
$22,436,257
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1960
Legal Domicile
IL
Principal Officer
THOM EWEN
Phone
3094518400
Tax Period
2023-01-01 to 2023-12-31

ILLINOIS STATE CREDIT UNION, founded in 1960, is a mid-sized nonprofit that reported $13.4M in total revenue in fiscal year 2023. Revenue grew 18% year-over-year, indicating healthy expansion. Expenses of $11.9M left a modest 11% surplus.

Mission

THE CREDIT UNION IS COMMITTED TO PROVIDING QUALITY SERVICES AND PROGRAMS TO MEET THE INDIVIDUAL NEEDS OF MEMBERS WHILE PRESERVING THE FINANCIAL STABILITY AND SECURITY OF THE ORGANIZATION.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $12,100,369
Investment Income $1,215,951
Other Revenue $44,609
TOTAL REVENUE $13,360,929

Expense Breakdown

Grants Paid $0
Salaries & Benefits $5,038,797
Fundraising Expenses $0
Other Expenses $6,873,593
TOTAL EXPENSES $11,912,390

Year-over-Year Comparison

2023 2022 Change
Revenue $13,360,929 $11,324,968 +0.2%
Expenses $11,912,390 $9,938,008 +0.2%
Net Income $1,448,539 $1,386,960 +0.0%
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

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Governance

Voting Members
10
Independent Members
10
Employees
N/A
Volunteers
10

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
1
$362,695
Total Directors
10
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
LARRY QUANE DIRECTOR/CHAIRPERSON 1.00
Director
$0 $0 $0
BART LYTEL DIRECTOR 1.00
Director
$0 $0 $0
MICHAEL FISH DIRECTOR 1.00
Director
$0 $0 $0
HANK CAMPBELL DIRECTOR 1.00
Director
$0 $0 $0
MEGAN DEVLIN DIRECTOR 1.00
Director
$0 $0 $0
JP SCHROEDER DIRECTOR 1.00
Director
$0 $0 $0
DIANE JOHNSON DIRECTOR/TREASURER 1.00
Director
$0 $0 $0
KEVIN TALBOTT DIRECTOR/VICE CHAIR 1.00
Director
$0 $0 $0
THOMAS EWEN PRESIDENT 40.00
Officer
$333,333 $29,362 $362,695
BOB NAVARRO DIRECTOR 1.00
Director
$0 $0 $0
LARRY ALFERINK DIRECTOR/SECRETARY 1.00
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
2024 No data No data No data No data
2023 $13,360,929 $11,912,390 $205,398,895 $1,448,539
2022 $11,324,968 $9,938,008 $200,084,115 $1,386,960
2021 $11,378,567 $9,230,054 $197,404,498 $2,148,513
2020 $10,491,608 $8,622,500 $164,344,739 $1,869,108
2019 $9,163,004 $7,395,727 $138,941,185 $1,767,277
2018 $8,118,231 $6,886,751 $129,758,449 $1,231,480
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