LANDMARK CREDIT UNION (EIN 390203995) - 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

1933

Legal Domicile

Principal Officer

DAVID POWERS

Phone

2627964500

Tax Period

2023-01-01 to 2023-12-31

LANDMARK CREDIT UNION, founded in 1933, is a major nonprofit that reported $356.4M in total revenue in fiscal year 2023. Revenue surged 41% from the prior year, signaling strong growth momentum. Expenses of $329.2M left a modest 8% surplus.

Mission

LANDMARK CREDIT UNION IS A MEMBER-OWNED NOT-FOR-PROFIT, COOPERATIVE FINANCIAL INSTITUTION.

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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 $292,612,067

Investment Income $63,813,293

Other Revenue $14,400

TOTAL REVENUE $356,439,760

Expense Breakdown

Grants Paid $0

Salaries & Benefits $96,809,485

Fundraising Expenses $0

Other Expenses $144,237,545

TOTAL EXPENSES $329,151,426

Year-over-Year Comparison

	2023	2022	Change
Revenue	$356,439,760	$253,257,967	+0.4%
Expenses	$329,151,426	$196,503,710	+0.7%
Net Income	$27,288,334	$56,754,257	-0.5%

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

1251

Volunteers

N/A

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

$4,575,125

Total Directors

$1,894,807

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAY MAGULSKI	TREASURER/CEO/PRESIDENT	50.00	Officer Director	$1,649,227	$85,483	$1,734,710
BRIAN DOROW	CHAIRPERSON	10.00	Officer Director	$25,725	$0	$25,725
GRACE KOSTROSKI	VICE CHAIRPERSON	10.00	Officer Director	$19,775	$0	$19,775
NANCY DICKMAN	SECRETARY	10.00	Officer Director	$22,694	$0	$22,694
JENNIFER BOGNAR	DIRECTOR	10.00	Director	$16,375	$0	$16,375
AILEC GONZALEZ	DIRECTOR	10.00	Director	$16,375	$0	$16,375
MIKE ERWIN	DIRECTOR	10.00	Director	$16,375	$0	$16,375
JOHN SCHULZE JR	DIRECTOR	10.00	Director	$16,375	$0	$16,375
NELSON PHILLIPS	DIRECTOR	10.00	Director	$16,375	$0	$16,375
DANE SANDERSEN	ASSOCIATE DIRECTOR	10.00	Director	$10,028	$0	$10,028
BRIAN MELTER	CXO	50.00	Officer	$531,738	$63,702	$595,440
STEPHEN HANNAN JR	CIO	50.00	Officer	$443,350	$59,762	$503,112
MARK KENNEDY	CLO	50.00	Officer	$440,268	$60,685	$500,953
DAVID POWERS	CFO	50.00	Officer	$408,281	$57,339	$465,620
JODI GREENMEIER	CPO	50.00	Officer	$367,932	$47,640	$415,572
ROBERT BRUEMMER	EVP	50.00	Officer	$281,530	$9,994	$291,524
LUKE HESPRICH	SENIOR INVESTMENT REP	40.00	Highest	$451,406	$68,271	$519,677
THOMAS MAAS	SVP COMMERCIAL LENDING	40.00	Highest	$306,565	$58,702	$365,267
ADAM NEWMAN	EVP	40.00	Highest	$310,329	$54,747	$365,076
RYAN JANDRIS	SVP DIGITAL STRATGEY	40.00	Highest	$284,900	$45,231	$330,131
KAREN CULLEN	SVP LEGAL, RISK AND COMPLIANCE	40.00	Highest	$285,027	$40,617	$325,644

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	$356,439,760	$329,151,426	$6,362,138,027	$27,288,334
2022	$253,257,967	$196,503,710	$6,153,508,927	$56,754,257
2021	$240,096,652	$168,230,201	$5,849,776,712	$71,866,451
2020	$252,364,654	$183,451,971	$5,282,705,118	$68,912,683
2019	$223,632,603	$163,320,774	$4,463,282,883	$60,311,829
2018	$191,675,636	$134,175,746	$3,965,319,770	$57,499,890

LANDMARK CREDIT UNION