CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN (EIN 381598795) - 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

KRISTEN PLICHTA

Phone

6163363490

Tax Period

2023-01-01 to 2023-12-31

CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN, founded in 1956, is a community nonprofit that reported $3.8M in total revenue in fiscal year 2023. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $3.3M left a modest 13% surplus.

Mission

TO PROVIDE FINANCIAL SERVICES TO MEMBER OWNERS WITH A COMMON BOND.

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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 $3,297,814

Investment Income $530,001

Other Revenue $0

TOTAL REVENUE $3,827,815

Expense Breakdown

Grants Paid $1,905

Salaries & Benefits $1,512,366

Fundraising Expenses $0

Other Expenses $1,823,005

TOTAL EXPENSES $3,337,276

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,827,815	$3,505,118	+0.1%
Expenses	$3,337,276	$2,944,229	+0.1%
Net Income	$490,539	$560,889	-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

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

$416,281

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JON DENHOF	CHAIRPERSON	1.00	Director	$0	$0	$0
ELIZABETH WINNINGER	VICE CHAIRPERSON	1.00	Director	$0	$0	$0
VICKI SEIDL	TREASURER	1.00	Director	$0	$0	$0
KRISTIAN DANIEL	SECRETARY	1.00	Director	$0	$0	$0
DANIEL KENT	DIRECTOR	1.00	Director	$0	$0	$0
DANIEL KENDALL	DIRECTOR	1.00	Director	$0	$0	$0
AL JANO	DIRECTOR	1.00	Director	$0	$0	$0
BARBARA PAGE	SPECIAL PROJECT COORDINATOR (EFF. APRIL 2023)	45.00	Officer	$136,006	$23,867	$159,873
KRISTEN PLICHTA	PRESIDENT/CEO	60.00	Officer	$131,974	$17,009	$148,983
TRACY ELMORABETI	VP OF ACCOUNTING	45.00	Officer	$86,560	$20,865	$107,425

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	$3,827,815	$3,337,276	$72,187,777	$490,539
2022	$3,505,118	$2,944,229	$72,689,468	$560,889
2021	$3,214,138	$2,598,699	$70,844,245	$615,439
2020	$3,149,313	$2,680,370	$59,919,891	$468,943
2019	$3,088,747	$2,501,045	$48,974,236	$587,702
2018	$2,813,460	$2,391,149	$47,678,505	$422,311

CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN