PROCESSORS-INDUSTRIAL COMMUNITY CREDIT UNION

EIN: 370811309

GRANITE CITY, IL

Total Revenue
$574,607
Total Expenses
$696,476
Total Assets
N/A
Net Assets
N/A
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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
1962
Legal Domicile
IL
Principal Officer
STEVE SELBY
Phone
6184522752
Tax Period
2021-01-01 to 2021-10-31

PROCESSORS-INDUSTRIAL COMMUNITY CREDIT UNION, founded in 1962, is a small nonprofit that reported $575K in total revenue in fiscal year 2021. Revenue fell 25% from the prior year — a significant decline worth monitoring. Expenses of $696K exceeded revenue, resulting in a 21% operating deficit.

Mission

TO PROVIDE COOPERATIVE FINANCIAL SERVICES FOR OUR MEMBERS.

Program Service Accomplishments

Program 1

PROVIDE COOPERATIVE FINANCIAL SERVICES TO 1,996 MEMBERS.

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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 (2021)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $457,071
Investment Income $26,463
Other Revenue $91,073
TOTAL REVENUE $574,607

Expense Breakdown

Grants Paid $0
Salaries & Benefits $208,325
Fundraising Expenses $0
Other Expenses $488,151
TOTAL EXPENSES $696,476

Year-over-Year Comparison

2021 2020 Change
Revenue $574,607 $766,924 -0.3%
Expenses $696,476 $918,622 -0.2%
Net Income $-121,869 $-151,698 -0.2%
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
7
Independent Members
6
Employees
8
Volunteers
N/A

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
$34,642
Total Directors
7
$34,642
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
WILLIAM DUSENBERY BOARD CHAIR 1.00
Officer Director
$0 $0 $0
JIM SNELSON VICE CHAIR 2.00
Officer Director
$0 $0 $0
HARVEY MCDONALD JR SECRETARY 1.00
Officer Director
$0 $0 $0
EMMITT GLASPER SUPERVISORY CHAIR / DIRECTOR 2.00
Director
$0 $0 $0
FRANK KOMOROMI DIRECTOR 2.00
Officer Director
$0 $0 $0
JAYE WOOLFORK DIRECTOR 2.00
Director
$0 $0 $0
STEVE SELBY PRESIDENT/CEO/TREASURER 10.00
Officer Director
$34,642 $0 $34,642
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
2021 $574,607 $696,476 No data $-121,869
2020 $766,924 $918,622 $13,320,729 $-151,698
2019 $894,196 $941,258 $11,733,540 $-47,062
2018 $893,675 $843,355 $11,176,800 $50,320
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