BEST FINANCIAL 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

1955

Legal Domicile

Principal Officer

MORGAN RESCORLA

Phone

2317331329

Tax Period

2023-01-01 to 2023-12-31

BEST FINANCIAL CREDIT UNION, founded in 1955, is a community nonprofit that reported $8.3M in total revenue in fiscal year 2023. Revenue grew 16% year-over-year, indicating healthy expansion. Expenses of $8.0M left a modest 4% surplus.

Mission

THE PURPOSE OF THE CREDIT UNION IS TO ENCOURAGE THRIFT AND SAVINGS BY CREATING A SOURCE OF CREDIT AT FAIR AND REASONABLE RATES AND PROMOTE SAVINGS AT A REASONABLE RATE OF INTEREST.

Program Service Accomplishments

Program 1

PROMOTE THRIFT BY OFFERING FINANCIAL SERVICES TO THE COMMUNITY OF MEMBERS ELIGIBLE TO JOIN THE FINANCIAL CREDIT UNION. FINANCIAL SERVICES ARE ECONOMICALLY PRICED FOR LOANS, SERVICES, RETURN ON...

PROMOTE THRIFT BY OFFERING FINANCIAL SERVICES TO THE COMMUNITY OF MEMBERS ELIGIBLE TO JOIN THE FINANCIAL CREDIT UNION. FINANCIAL SERVICES ARE ECONOMICALLY PRICED FOR LOANS, SERVICES, RETURN ON DEPOSITS.

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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 $7,212,410

Investment Income $951,111

Other Revenue $120,697

TOTAL REVENUE $8,284,218

Expense Breakdown

Grants Paid $40,155

Salaries & Benefits $2,667,430

Fundraising Expenses $0

Other Expenses $5,278,893

TOTAL EXPENSES $7,986,478

Year-over-Year Comparison

	2023	2022	Change
Revenue	$8,284,218	$7,151,929	+0.2%
Expenses	$7,986,478	$6,370,309	+0.3%
Net Income	$297,740	$781,620	-0.6%

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

$614,086

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PAUL HOPPA	SECRETARY	1.00	Director	$0	$0	$0
JAMIE STAHL	BOARD MEMBER	1.00	Director	$0	$0	$0
SHONTAYE WITCHER	TREASURER	1.00	Director	$0	$0	$0
DAVID MIERAS	VICE CHAIRPERSON	1.00	Director	$0	$0	$0
SHELLEY PEETS	CHAIRPERSON	1.00	Director	$0	$0	$0
TAYLOR ADAMS	BOARD MEMBER	1.00	Director	$0	$0	$0
TIMOTHY BURGESS	BOARD MEMBER	1.00	Director	$0	$0	$0
MEAGAN WACHTER	CHAIR SUPERVISORY COMMITTE	1.00	Director	$0	$0	$0
AUSTIN RANKIN	SUPERVISORY COMMITTEE	1.00	Director	$0	$0	$0
MARY HEETHOUSE	SUPERVISORY COMMITTEE	1.00	Director	$0	$0	$0
CATHERINE KLOSKA	SUPERVISORY COMMITTEE	1.00	Director	$0	$0	$0
MORGAN RESCORLA	PRESIDENT/CEO	50.00	Officer	$238,123	$63,211	$301,334
MICHAEL VERSTRAETE	CFO	50.00	Officer	$138,972	$46,251	$185,223
RANDI SHEFFER	COO	50.00	Officer	$105,062	$22,467	$127,529
CHARLES RITTER	AGENCY PRINCIPAL	50.00	Highest	$101,016	$9,078	$110,094

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	$8,284,218	$7,986,478	$139,035,538	$297,740
2022	$7,151,929	$6,370,309	$137,728,390	$781,620
2021	$6,644,465	$5,722,465	$124,604,613	$922,000
2020	$5,881,103	$5,005,864	$116,774,846	$875,239
2019	$5,807,647	$4,962,062	$93,240,872	$845,585
2018	$5,196,288	$4,445,431	$89,173,892	$750,857