ELGA CREDIT UNION (EIN 381441242) - 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

1951

Legal Domicile

Principal Officer

TERRY KATZUR

Phone

8107153542

Tax Period

2023-01-01 to 2023-12-31

ELGA CREDIT UNION, founded in 1951, is a major nonprofit that reported $108.7M in total revenue in fiscal year 2023. Revenue surged 25% from the prior year, signaling strong growth momentum. The organization ran a surplus of $27.5M, a strong 25% operating margin.

Mission

PROVIDE FINANCIAL SERVICES AND PRODUCTS 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 (2023)

Revenue Breakdown

Contributions & Grants $2,000,000

Program Service Revenue $101,238,840

Investment Income $5,458,896

Other Revenue $0

TOTAL REVENUE $108,697,736

Expense Breakdown

Grants Paid $490,216

Salaries & Benefits $24,978,005

Fundraising Expenses $0

Other Expenses $55,778,092

TOTAL EXPENSES $81,246,313

Year-over-Year Comparison

	2023	2022	Change
Revenue	$108,697,736	$86,734,421	+0.3%
Expenses	$81,246,313	$58,435,103	+0.4%
Net Income	$27,451,423	$28,299,318	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

Governance

Voting Members

Independent Members

Employees

324

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

$1,701,813

Total Directors

Key Employees

$467,623

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
HAROLD MOTT	BOARD CHAIRPERSON	1.00	Director	$0	$0	$0
JOSEPH BORIS	BOARD VICE CHAIRPERSON	1.00	Director	$0	$0	$0
SHEVEZE ANDERSON	BOARD SECRETARY	1.00	Director	$0	$0	$0
DIANA CURRIER	BOARD TREASURER	1.00	Director	$0	$0	$0
RODERICK SLAUGHTER	BOARD MEMBER	1.00	Director	$0	$0	$0
KEVIN KEANE	BOARD MEMBER	1.00	Director	$0	$0	$0
CHRISTOPHER GOETZ	BOARD MEMBER	1.00	Director	$0	$0	$0
RUTHY QUARLES	SUPERVISORY COMMITTEE CHAIRPERSON	1.00	Director	$0	$0	$0
GLENN WILSON	SUPERVISORY COMMITTEE MEMBER	1.00	Director	$0	$0	$0
TERRY KATZUR	CEO	45.00	Officer	$1,029,744	$37,806	$1,067,550
BRYAN RANDALL	CIO	45.00	Officer	$208,437	$23,988	$232,425
DAVID BRANDT	EVP	45.00	Officer	$357,579	$44,259	$401,838
KATHLEEN SMITH	VP OF BRANCH OPERATIONS	45.00	Key Emp	$236,226	$35,191	$271,417
MALLORY HAZARD	VP OF LENDING	45.00	Key Emp	$163,202	$33,004	$196,206
CHADD O'BRIEN	CORPORATE COUNSEL	45.00	Highest	$194,675	$16,231	$210,906
ROBERT CLONTZ	BRANCH MANAGER	45.00	Highest	$173,251	$9,114	$182,365
AMY ZIMMER	DIRECTOR OF MORTGAGE LENDING	45.00	Highest	$172,550	$990	$173,540
SHELLEY HUFTON	ACCOUNTING MANAGER	45.00	Highest	$157,015	$13,918	$170,933
REBECCA JONES	DIGITAL EXPERIENCE MANAGER	45.00	Highest	$154,129	$12,235	$166,364

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	$108,697,736	$81,246,313	$1,497,868,277	$27,451,423
2022	$86,734,421	$58,435,103	$1,416,776,548	$28,299,318
2021	$71,459,461	$48,156,847	$1,236,875,968	$23,302,614
2020	$60,859,425	$44,308,630	$1,060,468,798	$16,550,795
2019	$56,196,393	$40,870,402	$794,491,719	$15,325,991
2018	$51,927,755	$36,648,268	$660,931,409	$15,279,487

ELGA CREDIT UNION