CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN (1204 JOLT CREDIT (EIN 381544100) - 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

1956

Legal Domicile

Principal Officer

ALAN WATSON

Phone

9897998744

Tax Period

2023-01-01 to 2023-12-31

CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN (1204 JOLT CREDIT, founded in 1956, is a mid-sized nonprofit that reported $19.7M in total revenue in fiscal year 2023. Revenue grew 8% year-over-year, indicating healthy expansion. Expenses of $21.7M exceeded revenue, resulting in a 10% operating deficit.

Mission

STATE CHARTERED CREDIT UNION PROVIDING A VARIETY OF FINANCIAL SERVICES TO ITS MEMBERS, AND PROVIDE AN OPPORTUNITY FOR ITS MEMBERS TO USE AND CONTROL THEIR OWN MONEY ON A DEMOCRATIC BASIS IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITION.

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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 $0

Program Service Revenue $16,387,147

Investment Income $2,873,774

Other Revenue $401,569

TOTAL REVENUE $19,662,490

Expense Breakdown

Grants Paid $0

Salaries & Benefits $7,760,107

Fundraising Expenses $0

Other Expenses $13,965,344

TOTAL EXPENSES $21,725,451

Year-over-Year Comparison

	2023	2022	Change
Revenue	$19,662,490	$18,189,161	+0.1%
Expenses	$21,725,451	$17,056,432	+0.3%
Net Income	$-2,062,961	$1,132,729	-2.8%

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

147

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

$577,641

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ALAN WATSON	PRESIDENT/CE	40.00	Officer	$219,185	$40,520	$259,705
THOMAS ZIRKLE	COO	40.00	Officer	$121,974	$43,908	$165,882
ANN RECHSTEINER	CFO	40.00	Officer	$115,492	$36,562	$152,054
JERD CLAYTON	VICE CHAIR	1.00	Officer Director	$0	$0	$0
MARTHA KINSMAN	SECRETARY	1.00	Officer Director	$0	$0	$0
ROBERT LOOBY	CHAIRMAN	1.00	Officer Director	$0	$0	$0
MATTHEW STARKE	TREASURER	1.00	Officer 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	$19,662,490	$21,725,451	$451,669,509	$-2,062,961

CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN (1204 JOLT CREDIT