LAFCU (EIN 380893210) - 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

PATRICK SPYKE

Phone

5176226600

Tax Period

2024-01-01 to 2024-12-31

LAFCU, founded in 1936, is a major nonprofit that reported $177.5M in total revenue in fiscal year 2024. Revenue surged 175% from the prior year, signaling strong growth momentum. The organization ran a surplus of $108.0M, a strong 61% operating margin.

Mission

COOPERATIVE FINANCIAL INSTITUTION - CREDIT UNION PROVIDING LOANS AND SAVINGS PRODUCTS AND SERVICES TO 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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $63,270,823

Investment Income $10,181,207

Other Revenue $104,037,619

TOTAL REVENUE $177,489,649

Expense Breakdown

Grants Paid $5,467,775

Salaries & Benefits $20,342,535

Fundraising Expenses $0

Other Expenses $43,685,789

TOTAL EXPENSES $69,496,099

Year-over-Year Comparison

	2024	2023	Change
Revenue	$177,489,649	$64,543,625	+1.7%
Expenses	$69,496,099	$57,206,143	+0.2%
Net Income	$107,993,550	$7,337,482	+13.7%

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

222

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

$1,697,538

Total Directors

Key Employees

$660,653

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MELVIN PLACE	BOD VICE-PRESIDENT	3.00	Director	$0	$0	$0
TOM MARTINSON	BOD TREASURER	3.00	Director	$0	$0	$0
TOM CULPEPPER	BOD SECRETARY	3.00	Director	$0	$0	$0
JERE AUVENSHINE	BOD MEMBER	3.00	Director	$0	$0	$0
PAULETTE WARREN	BOD MEMBER	3.00	Director	$0	$0	$0
RANDY FREEMAN	BOD PRESIDENT	3.00	Director	$0	$0	$0
MELVIN COLEMAN	BOD MEMBER	3.00	Director	$0	$0	$0
PATRICK SPYKE	CEO	40.00	Officer	$1,368,082	$104,845	$1,472,927
LESLIE RORIE	CFO	40.00	Officer	$190,593	$34,018	$224,611
KELLI ELLSWORTH-ETCHISON	CHIEF MARKETING OFCR./CHIE	40.00	Key Emp	$263,934	$58,378	$322,312
ROBYN HOWELL	SVP/COO	40.00	Key Emp	$273,116	$65,225	$338,341
EMILY JANNERETH	CHIEF TECHNOLOGY OFFICER	40.00	Highest	$199,307	$35,694	$235,001
JASON SMITH	CHIEF LENDING OFFICER	40.00	Highest	$192,806	$54,406	$247,212
STEPHEN SCHMITT	CORPORATE STRATEGIST	40.00	Highest	$144,577	$29,667	$174,244
KIMBERLY AUSTIN	EXECUTIVE IMPLEMENTATION OFFICER	40.00	Highest	$140,781	$20,596	$161,377
AMY ADAM	VP OF CARDS	40.00	Highest	$147,252	$31,132	$178,384

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	$177,489,649	$69,496,099	$1,129,173,408	$107,993,550
2023	$64,543,625	$57,206,143	$1,029,416,440	$7,337,482
2022	$51,596,579	$43,349,555	$986,262,376	$8,247,024
2021	$46,684,897	$37,007,507	$943,734,939	$9,677,390
2020	$44,633,555	$37,978,336	$848,413,090	$6,655,219
2019	$43,479,866	$35,430,696	$746,558,780	$8,049,170
2018	$38,286,566	$32,982,472	$693,824,120	$5,304,094

LAFCU