Allegan Credit Union (EIN 381465061) - 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

2022

Legal Domicile

Principal Officer

Kristopher Lewis

Phone

2696735465

Tax Period

2022-05-01 to 2022-12-31

Allegan Credit Union, founded in 2022, is a community nonprofit that reported $3.3M in total revenue in fiscal year 2022. Net assets of $7.7M represent 28 months of operating reserves.

Mission

Allegan Credit Union values people over profit, relationships over revenue, and community over credit score to share the future of the credit union for the good of the members because servicng them is why we are here.

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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 (2022)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $3,071,252

Investment Income $268,965

Other Revenue $0

TOTAL REVENUE $3,340,217

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,222,261

Fundraising Expenses $0

Other Expenses $2,066,127

TOTAL EXPENSES $3,288,388

Year-over-Year Comparison

	2022	2021	Change
Revenue	$3,340,217	N/A	N/A
Expenses	$3,288,388	N/A	N/A
Net Income	$51,829	N/A	N/A

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

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

$201,703

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Kristopher Lewis	CEO	40.00	Officer	$148,822	$11,938	$160,760
Chris Harris	CFO	40.00	Officer	$40,943	$0	$40,943
Willard Jennings	Treasurer	1.00	Director	$0	$0	$0
Aaron Hartman	Vice Chair	1.00	Director	$0	$0	$0
Lori Drozd	Chair Person	1.00	Director	$0	$0	$0
Erica McCulley	Secretary	1.00	Director	$0	$0	$0
Lowell Winne	Director	1.00	Director	$0	$0	$0
Jacob Akert	Director	1.00	Director	$0	$0	$0
Scot Ellis	Director	1.00	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
2022	$3,340,217	$3,288,388	$84,441,604	$51,829

Allegan Credit Union