Shipbuilders Credit Union

EIN: 390613175

Manitowoc, WI

Total Revenue
$4,781,392
Total Expenses
$4,157,142
Total Assets
N/A
Net Assets
N/A
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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
1938
Legal Domicile
WI
Phone
9206828500
Tax Period
2024-01-01 to 2024-09-30

Shipbuilders Credit Union, founded in 1938, is a community nonprofit that reported $4.8M in total revenue in fiscal year 2024. Revenue decreased 19% compared to the prior year. Expenses of $4.2M left a modest 13% surplus.

Mission

A COOPERATIVE NON-PROFIT ORGANIZATION INCORPORATED UNDER WISCONSIN LAW TO ENCOURAGE THRIFT

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $4,118,506
Investment Income $646,166
Other Revenue $16,720
TOTAL REVENUE $4,781,392

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,484,486
Fundraising Expenses $0
Program Expenses $0
Other Expenses $2,413,471
TOTAL EXPENSES $4,157,142

Year-over-Year Comparison

2024 2023 Change
Revenue $4,781,392 $5,888,328 -0.2%
Expenses $4,157,142 $5,051,729 -0.2%
Net Income $624,250 $836,599 -0.3%
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

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Governance

Voting Members
7
Independent Members
6
Employees
41
Volunteers
6

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
$274,736
Total Directors
7
$274,736
Key Employees
1
$274,736
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Steimle Michael T CEO President 45.00
Officer Director Key Emp
$259,185 $15,551 $274,736
Lau Sheri K Vice President 45.00
Highest
$105,827 $6,350 $112,177
Diederichs Daniel Board Member 2.25
Director
$0 $0 $0
Fellows D Tyler Esq Board Chair 2.25
Officer Director
$0 $0 $0
Matczynski Greg Secretary 2.25
Officer Director
$0 $0 $0
Meyer Jared Vice Chair 2.25
Officer Director
$0 $0 $0
Musial Thomas Board Member 2.25
Director
$0 $0 $0
Nelson Todd Board Member 2.25
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 $4,781,392 $4,157,142 No data $624,250
2023 $5,888,328 $5,051,729 $117,470,779 $836,599
2022 $5,269,006 $4,545,646 $117,905,880 $723,360
2021 $4,530,315 $3,730,070 $115,188,458 $800,245
2020 $4,778,605 $4,020,622 $103,074,839 $757,983
2019 $5,283,304 $3,993,696 $86,407,251 $1,289,608
2018 $4,436,747 $3,486,831 $80,963,470 $949,916
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