KALSEE CREDIT UNION

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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

1954

Legal Domicile

Principal Officer

MATT LAHMAN

Phone

2693827800

Tax Period

2024-01-01 to 2024-12-31

KALSEE CREDIT UNION, founded in 1954, is a mid-sized nonprofit that reported $19.1M in total revenue in fiscal year 2024. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $17.9M left a modest 6% surplus.

Mission

TO BUILD RELATIONSHIPS AND CULTIVATE FINANCIAL WELLNESS, EMPOWERING PEOPLE TO FOCUS ON WHAT MATTERS.

Program Service Accomplishments

Program 1

PROVIDE MEMBERS WITH SAVINGS, CHECKING, CLUBS, MONEY MARKET, HEALTH SAVINGS, IRA AND CERTIFICATE OF DEPOSITS ACCOUNTS WITH AGGREGATE DEPOSIT BALANCES THAT APPROXIMATED $245,960,000 AS OF DECEMBER 31...

Program 2

PROVIDE MEMBERS WITH CREDIT CARD, VEHICLE, REAL ESTATE, UNSECURED, BUSINESS AND LINE OF CREDIT LOANS WITH AGGREGATE LOAN BALANCES THAT APPROXIMATED $197,833,000 AS OF DECEMBER 31, 2024.

Program 3

OFFER ATM & DEBIT CARD, CHECK CASHING, WIRE TRANSFER, COURTESY PAY, MONEY ORDERS, CASHIER CHECKS, ELECTRONIC BANKING, FINANCIAL COUNSELING, INVESTMENT AND INSURANCE PROGRAMS TO ALL ELIGIBLE 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 $17,530,395

Investment Income $1,243,411

Other Revenue $345,486

TOTAL REVENUE $19,119,292

Expense Breakdown

Grants Paid $0

Salaries & Benefits $6,445,784

Fundraising Expenses $0

Other Expenses $11,439,015

TOTAL EXPENSES $17,884,799

Year-over-Year Comparison

	2024	2023	Change
Revenue	$19,119,292	$17,529,917	+0.1%
Expenses	$17,884,799	$16,109,936	+0.1%
Net Income	$1,234,493	$1,419,981	-0.1%

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

123

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

$667,306

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID STUUT	BOARD CHAIR	2.00	Director	$0	$0	$0
JOSEPH MARTIN	VICE CHAIRMAN	2.00	Director	$0	$0	$0
JODI K MILKS	BOARD MEMBER	2.00	Director	$0	$0	$0
BRIAN SACKETT	DIRECTOR	2.00	Director	$0	$0	$0
BEN DANIELSON	DIRECTOR	2.00	Director	$0	$0	$0
RUDY CALLEN	BOARD TREASURER	2.00	Director	$0	$0	$0
MICHELLE SHINEVARE	BOARD SECRETARY	2.00	Director	$0	$0	$0
ERIK NORD	ASSOCIATE DIRECTOR	2.00	Director	$0	$0	$0
RODNEY MASON	DIRECTOR	2.00	Director	$0	$0	$0
MATTHEW LAHMAN	CEO	40.00	Officer	$270,259	$45,635	$315,894
SHELDON FAWORSKI	COO	40.00	Officer	$156,099	$40,280	$196,379
STEVEN SHUNKWILER	CFO	40.00	Officer	$127,411	$27,622	$155,033
RICHARD BAKER	VP OF LENDING	40.00	Highest	$141,476	$11,178	$152,654
CARRIE BOISONAULT	VP MARKETING & BUSINESS DE	40.00	Highest	$118,992	$9,844	$128,836

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	$19,119,292	$17,884,799	$277,482,700	$1,234,493
2023	$17,529,917	$16,109,936	$275,464,551	$1,419,981
2022	$14,420,939	$12,816,575	$264,926,490	$1,604,364
2021	$13,287,278	$11,991,465	$266,232,925	$1,295,813
2020	$12,917,654	$11,472,354	$232,510,221	$1,445,300
2019	$12,410,914	$11,379,048	$191,496,362	$1,031,866
2018	$12,089,796	$10,491,508	$186,031,636	$1,598,288