PROCESSORS-INDUSTRIAL COMMUNITY CREDIT UNION (EIN 370811309) - 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

1962

Legal Domicile

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 TO THE FOLLOWING GROUPS, THOSE WHO LIVE OR WORK IN GRANITE CITY, PONTOON BEACH, MITCHELL, MADISON AND VENICE AS WELL AS THE REST OF ST. CLAIR COUNTY, MADISON COUNTY, AND JERSEY COUNTY. PROCESSORS-INDUSTRIAL COMMUNITY CREDIT UNION ALSO OFFERS MEMBERSHIP TO EMPLOYEES OF AMERICAN STEEL, BULK SERVICE, GATEWAY CITY TOWNSHIP, GATEWAY REGIONAL MEDICAL CENTER, GRANITE CITY LIBRARY, KRAFT GENERAL FOODS, MAYCO, METALICO, MIDCOAST TERMINAL, REILLY INDUSTRIES, INC. AND VILLAGE OF GLEN CARBON. MEMBERSHIP IS ALSO OFFERED TO IMMEDIATE FAMILY, HOUSEHOLD AND RELATIVES OF 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%)

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

Governance

Voting Members

Independent Members

Employees

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

$34,642

Total Directors

$34,642

Key Employees

Highest Compensated

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

PROCESSORS-INDUSTRIAL COMMUNITY CREDIT UNION