FOX COMMUNITIES 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

1937

Legal Domicile

Principal Officer

CHRISTOPHER ALLEN

Phone

9209933753

Tax Period

2023-01-01 to 2023-12-31

FOX COMMUNITIES CREDIT UNION, founded in 1937, is a major nonprofit that reported $138.0M in total revenue in fiscal year 2023. Revenue surged 32% from the prior year, signaling strong growth momentum. Expenses of $126.1M left a modest 9% surplus.

Mission

WE PARTNER WITH OUR MEMBERS, COMMUNITIES, AND FOX FAMILY TO BUILD STRONGER FINANCIAL FUTURES.

Program Service Accomplishments

Program 1

WE OFFER LOANS FOR PURCHASES OF RESIDENTIAL REAL ESTATE, CREDIT CARDS, AUTOMOBILES AND OTHER CONSUMER PURPOSES TO OUR INDIVIDUAL MEMBERS, AND OUR SMALL BUSINESS MEMBERS. AS OF 12/31/2023 WE HAD $1...

WE OFFER LOANS FOR PURCHASES OF RESIDENTIAL REAL ESTATE, CREDIT CARDS, AUTOMOBILES AND OTHER CONSUMER PURPOSES TO OUR INDIVIDUAL MEMBERS, AND OUR SMALL BUSINESS MEMBERS. AS OF 12/31/2023 WE HAD $1 BILLION OUTSTANDING IN RESIDENTIAL REAL ESTATE AND HOME EQUITY LOANS, $554 MILLION OUTSTANDING IN CONSUMER LOANS, AND $653 MILLION OUTSTANDING IN MEMBER BUSINESS LOANS.

Program 2

WE OFFER DEPOSIT PRODUCTS TO INDIVIDUAL MEMBERS AS WELL AS BUSINESS MEMBERS THAT QUALIFY IN OUR FIELD OF MEMBERSHIP.

Program 3

FOX DONATED IN EXCESS OF $800,000 TO VARIOUS LOCAL CHARITIES THROUGHOUT THE YEAR. FOX CONTINUES TO SUPPORT LOCAL NONPROFITS AND VOLUNTEERS AT MANY COMMUNITY EVENTS.

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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 $117,848,963

Investment Income $18,767,275

Other Revenue $1,380,779

TOTAL REVENUE $137,997,017

Expense Breakdown

Grants Paid $0

Salaries & Benefits $37,758,763

Fundraising Expenses $0

Other Expenses $88,293,021

TOTAL EXPENSES $126,051,784

Year-over-Year Comparison

	2023	2022	Change
Revenue	$137,997,017	$104,390,989	+0.3%
Expenses	$126,051,784	$86,125,979	+0.5%
Net Income	$11,945,233	$18,265,010	-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

Governance

Voting Members

Independent Members

Employees

520

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

$1,058,804

Total Directors

$106,000

Key Employees

$1,531,876

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RICHARD SCOTT	CHAIR	1.00	Officer Director	$15,225	$0	$15,225
JOANNE BOGENSCHUTZ	SECRETARY	1.00	Officer Director	$12,225	$0	$12,225
MARTY DOCTER	DIRECTOR	1.00	Director	$9,250	$0	$9,250
WILLIAM PANELLA	DIRECTOR	1.00	Director	$11,725	$0	$11,725
CAMILLE KEMNITZ-ZIZZO	DIRECTOR	1.00	Director	$11,550	$0	$11,550
JESSICA FLEEK	DIRECTOR	1.00	Director	$11,050	$0	$11,050
MICHAEL VOELKER	DIRECTOR	1.00	Director	$11,025	$0	$11,025
JAMES RICHARDSON	VICE CHAIR	1.00	Officer Director	$12,225	$0	$12,225
PAUL SIPPL	TREASURER	1.00	Officer Director	$11,725	$0	$11,725
CHRISTOPHER ALLEN	PRESIDENT/CEO	40.00	Officer	$661,350	$51,055	$712,405
NIKI SCHAUMBERG	CHIEF FINANCIAL OFFICER	40.00	Officer	$249,154	$45,845	$294,999
ADAM LANDSVERK	CHIEF LENDING OFFICER	40.00	Key Emp	$273,099	$43,105	$316,204
MITCHELL MUSIAL	GENERAL COUNSEL	40.00	Key Emp	$215,932	$42,625	$258,557
NANCY KRAHN	CHIEF RETAIL OFFICER	40.00	Key Emp	$244,424	$19,616	$264,040
KORY KITOWSKI	CHIEF INFORMATION OFFICER	40.00	Key Emp	$210,062	$22,218	$232,280
KRISTINE HACKBARTH-HORN	CHIEF PEOPLE OFFICER	40.00	Key Emp	$235,456	$46,386	$281,842
CATHY HARVATH	FOUNDATION EXECUTIVE DIRECTOR	1.00	Key Emp	$156,091	$22,862	$178,953
DAWN DOBERSTEIN	COMMERCIAL LENDER	40.00	Highest	$199,016	$19,956	$218,972
SCOTT YUKEL	COMMERCIAL LENDER	40.00	Highest	$186,797	$30,330	$217,127
CHRISTOPHER CUMICEK	COMMERCIAL LENDER	40.00	Highest	$181,711	$37,988	$219,699
STEVE GINERIS	VP OF RETAIL LENDING	40.00	Highest	$165,679	$9,902	$175,581
CHRIS THELEN	FINANCIAL ADVISOR	1.00	Highest	$181,781	$29,590	$211,371

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	$137,997,017	$126,051,784	$2,838,956,202	$11,945,233
2022	$104,390,989	$86,125,979	$2,694,097,241	$18,265,010
2021	$94,748,931	$69,130,050	$2,452,637,306	$25,618,881
2020	$89,041,156	$73,833,445	$2,185,447,723	$15,207,711
2019	$84,223,252	$67,317,993	$1,834,894,059	$16,905,259
2018	$74,524,425	$53,934,537	$1,673,784,772	$20,589,888