SHORELINE CREDIT UNION

EIN: 390795376

MANITOWOC, WI

Total Revenue
$6,642,627
Total Expenses
$6,329,038
Total Assets
$127,160,692
Net Assets
$9,645,918
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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
1941
Legal Domicile
WI
Principal Officer
NATHAN GROSSENBACH
Phone
9204823700
Tax Period
2023-01-01 to 2023-12-31

SHORELINE CREDIT UNION, founded in 1941, is a community nonprofit that reported $6.6M in total revenue in fiscal year 2023. Revenue surged 24% from the prior year, signaling strong growth momentum. Expenses of $6.3M left a modest 5% surplus.

Mission

OUR MISSION IS TO HELP OUR MEMBERS ACHIEVE FINANCIAL SUCCESS. WE ACHIEVE THIS BY PROVIDING MEMBERS WITH A SAFE PLACE TO SAVE AND BORROW AT REASONABLE RATES. WE EXCEL AT THIS BY REMAINING COMMITTED TO EMPLOYING AN HONEST, KNOWLEDGEABLE STAFF WHOSE FOCUS IS ON ONE MEMBER AT A TIME.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $5,007,339
Investment Income $696,037
Other Revenue $939,251
TOTAL REVENUE $6,642,627

Expense Breakdown

Grants Paid $0
Salaries & Benefits $2,432,440
Fundraising Expenses $0
Other Expenses $3,278,899
TOTAL EXPENSES $6,329,038

Year-over-Year Comparison

2023 2022 Change
Revenue $6,642,627 $5,354,568 +0.2%
Expenses $6,329,038 $4,937,168 +0.3%
Net Income $313,589 $417,400 -0.2%
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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Governance

Voting Members
7
Independent Members
7
Employees
59
Volunteers
7

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
7
$601,955
Total Directors
10
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
GRETCHEN BAUKNECHT-PECH CHAIRPERSON 1.00
Officer Director
$0 $0 $0
COLLEEN INMAN VICE CHAIR 1.00
Officer Director
$0 $0 $0
SHARON TOME SECRETARY 1.00
Officer Director
$0 $0 $0
JAMES PFIEFFER BOARD MEMBER 1.00
Director
$0 $0 $0
BRIAN POWELL TREASURER 1.00
Officer Director
$0 $0 $0
JASON RING BOARD MEMBER 1.00
Director
$0 $0 $0
LUANN HELGESON BOARD MEMBER 1.00
Director
$0 $0 $0
STEPHAN KANTER BOARD MEMBER 1.00
Director
$0 $0 $0
JULIE VOGEL BOARD MEMBER 1.00
Director
$0 $0 $0
CHAD SCHWOERER BOARD MEMBER 1.00
Director
$0 $0 $0
NATHAN GROSSENBACH PRESIDENT/CEO 45.00
Officer
$303,792 $59,276 $363,068
STEVEN HAENSGEN CFO/EVP 45.00
Officer
$111,499 $28,704 $140,203
LISA SMENT COO 45.00
Officer
$84,895 $13,789 $98,684
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 $6,642,627 $6,329,038 $127,160,692 $313,589
2022 $5,354,568 $4,937,168 $128,218,920 $417,400
2021 $4,937,848 $4,326,202 $123,040,300 $611,646
2020 $4,570,508 $4,409,164 $112,157,705 $161,344
2019 $4,457,929 $4,918,317 $93,019,159 $-460,388
2018 $4,618,899 $4,501,813 $92,090,403 $117,086
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