FLINT, MI
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN SOVITA CREDIT UNION, founded in 1934, is a mid-sized nonprofit that reported $21.3M in total revenue in fiscal year 2024. Revenue grew 17% year-over-year, indicating healthy expansion. The organization ran a surplus of $4.6M, a strong 22% operating margin.
TO BECOME THE PRIMARY FINANCIAL SERVICES PROVIDER FOR OUR MEMBERS THROUGH OUR CONTINUAL EFFORT TO EXEMPLIFY COURTEOUS, RELIABLE, COMPREHENSIVE AND PROMPT SERVICES THAT ARE COMPETITIVE WITH THE MARKET AND CORRESPOND TO THE NEEDS OF OUR MEMBERS.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2024 | 2023 | Change | |
|---|---|---|---|
| Revenue | $21,313,191 | $18,274,970 | +0.2% |
| Expenses | $16,718,866 | $12,774,373 | +0.3% |
| Net Income | $4,594,325 | $5,500,597 | -0.2% |
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
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| PATRICK WHITE | CEO | 40.00 |
Officer
Director
|
$495,059 | $21,673 | $516,732 |
| PATRICK HAGEDORN | COO/BOARD SECRETARY | 3.00 |
Officer
Director
|
$19,759 | $0 | $19,759 |
| JEFFREY CLOTHIER | BOARD MEMBER | 1.00 |
Director
|
$0 | $0 | $0 |
| PATRICIA R GOOCH | BOARD PRESIDENT | 1.00 |
Director
|
$0 | $0 | $0 |
| SAM PARASCHOS | BOARD VICE PRESIDENT | 1.00 |
Director
|
$0 | $0 | $0 |
| JOSEPH EUFINGER | BOARD TREASURER | 1.00 |
Director
|
$0 | $0 | $0 |
| ANDRE WEATHERS | BOARD MEMBER | 1.00 |
Director
|
$0 | $0 | $0 |
| DANIEL FONDREN | VICE PRESIDENT OF FINANCE | 40.00 |
Officer
|
$176,197 | $98,271 | $274,468 |
| JILL KRUYER | VICE PRESIDENT OF MEM SERV | 40.00 |
Key Emp
|
$167,833 | $129,470 | $297,303 |
| MICHAEL FURST | VICE PRESIDENT OF LENDING | 40.00 |
Key Emp
|
$168,840 | $12,812 | $181,652 |
| JENNIFER SHEW | DIRECTOR OF MARKETING | 40.00 |
Highest
|
$102,509 | $53,380 | $155,889 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | $21,313,191 | $16,718,866 | $529,376,259 | $4,594,325 |
| 2023 | $18,274,970 | $12,774,373 | $508,496,724 | $5,500,597 |
| 2022 | $13,885,121 | $10,361,055 | $520,943,774 | $3,524,066 |
| 2021 | $11,610,983 | $10,103,756 | $540,162,677 | $1,507,227 |
| 2020 | $12,779,014 | $10,836,202 | $504,085,579 | $1,942,812 |
| 2019 | $14,803,285 | $11,582,342 | $436,080,346 | $3,220,943 |
Compare CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN SOVITA CREDIT UNION with other nonprofits in Michigan and across the country.