CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN

EIN: 381350130

Dearborn, MI

Total Revenue
$237,737,792
Total Expenses
$188,819,360
Total Assets
$6,261,595,415
Net Assets
$378,038,398
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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
MI
Principal Officer
Ryan Goldberg
Phone
3133228279
Tax Period
2023-01-01 to 2023-12-31

CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN, founded in 1936, is a major nonprofit that reported $237.7M in total revenue in fiscal year 2023. Revenue surged 32% from the prior year, signaling strong growth momentum. The organization ran a surplus of $48.9M, a strong 21% operating margin.

Mission

Highly personalized service, easy to understand, financial expertise offering a full range of financial services and products.

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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 $149,023,446
Investment Income $88,714,346
Other Revenue $0
TOTAL REVENUE $237,737,792

Expense Breakdown

Grants Paid $334,340
Salaries & Benefits $63,801,225
Fundraising Expenses $0
Program Expenses $188,819,360
Other Expenses $124,683,795
TOTAL EXPENSES $188,819,360

Year-over-Year Comparison

2023 2022 Change
Revenue $237,737,792 $179,964,241 +0.3%
Expenses $188,819,360 $130,926,227 +0.4%
Net Income $48,918,432 $49,038,014 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
9
Independent Members
9
Employees
748
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
2
$1,791,184
Total Directors
9
$0
Key Employees
4
$2,681,561
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Brad Sova Financial Consultant 40
Highest
$1,410,533 $0 $1,410,533
Ryan Goldberg CEO 40
Officer
$1,262,524 $0 $1,262,524
Jack Barrett Florida Market & Chief CL Officer 40
Key Emp
$1,145,384 $0 $1,145,384
David Mastrorio EVP & CLO 40
Highest
$700,617 $0 $700,617
John Friday Financial Consultant 40
Highest
$612,314 $0 $612,314
Scott Vermillion Financial Consultant 40
Highest
$569,591 $0 $569,591
John Chapel-Pearch CFO 40
Officer
$528,660 $0 $528,660
Vince Pittiglio CIO 40
Key Emp
$523,922 $0 $523,922
Keri Boyd Chief Retail Service Officer 40
Key Emp
$523,203 $0 $523,203
Doug Cooper CLO 40
Key Emp
$489,052 $0 $489,052
Brian Mell Financial Consultant 40
Highest
$487,261 $0 $487,261
Matt Elsey Board Treasurer 1
Director
$0 $0 $0
Keith Moss Board Member Vice Chair 1
Director
$0 $0 $0
Donald Tomford Board Secretary 1
Director
$0 $0 $0
Shirley Ghannam Board Member 1
Director
$0 $0 $0
Margaret Dimond Board Member 1
Director
$0 $0 $0
Annetta May Board Member 1
Director
$0 $0 $0
John Sinelli Board Member 1
Director
$0 $0 $0
James Bazner Board Member 1
Director
$0 $0 $0
James Cowper Board Member Chairperson 1
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 $237,737,792 $188,819,360 $6,261,595,415 $48,918,432
2022 $179,964,241 $130,926,227 $6,001,741,823 $49,038,014
2021 $181,284,426 $116,707,976 $6,455,380,939 $64,576,450
2020 $179,910,846 $124,306,089 $5,816,690,338 $55,604,757
2019 $179,907,993 $125,126,049 $4,902,627,772 $54,781,944
2018 $163,299,198 $117,565,643 $4,666,977,816 $45,733,555
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