CREDIT UNIONS CHARTER IN THE STATE OF MI Thornapple Credit Union (EIN 381752492) - 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

1964

Legal Domicile

Principal Officer

AMY BYERS

Phone

2699488369

Tax Period

2024-01-01 to 2024-12-31

CREDIT UNIONS CHARTER IN THE STATE OF MI Thornapple Credit Union, founded in 1964, is a community nonprofit that reported $5.7M in total revenue in fiscal year 2024. Revenue surged 25% from the prior year, signaling strong growth momentum. The organization ran a surplus of $893K, a strong 16% operating margin.

Mission

TO FURNISH COOPERATIVE FINANCIAL SERVICES TO 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 $5,317,425

Investment Income $361,531

Other Revenue $0

TOTAL REVENUE $5,678,956

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,775,484

Fundraising Expenses $0

Other Expenses $3,010,702

TOTAL EXPENSES $4,786,186

Year-over-Year Comparison

	2024	2023	Change
Revenue	$5,678,956	$4,560,985	+0.2%
Expenses	$4,786,186	$3,714,205	+0.3%
Net Income	$892,770	$846,780	+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

$194,903

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
AMY BYERS	CEO	40.00	Officer	$170,840	$24,063	$194,903
THOMAS NEIL	Director	1.00	Director	$0	$0	$0
PATRICK BUCKLAND	Director	1.00	Director	$0	$0	$0
JEFFREY KEESEN	Chairman	1.00	Director	$0	$0	$0
CYNTHIA VUJEA	Treasurer	1.00	Director	$0	$0	$0
DEBRA HATFIELD	Secretary	1.00	Director	$0	$0	$0
CRAIG STOLSONBURG	Director	1.00	Director	$0	$0	$0
DARLA DEIBERT	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
2024	$5,678,956	$4,786,186	$72,392,991	$892,770
2023	$4,560,985	$3,714,205	$66,366,231	$846,780
2022	$3,716,743	$3,046,728	$62,594,344	$670,015
2021	$3,194,033	$2,616,392	$57,804,268	$577,641
2020	$2,888,362	$2,480,974	$49,756,337	$407,388
2019	$2,683,331	$2,471,741	$37,124,612	$211,590
2018	$2,372,261	$2,108,924	$32,211,569	$263,337

CREDIT UNIONS CHARTER IN THE STATE OF MI Thornapple Credit Union