FORWARD FINANCIAL CREDIT UNION (EIN 390812058) - 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

1948

Legal Domicile

Principal Officer

TAMMY YOUNG

Phone

7152514546

Tax Period

2024-01-01 to 2024-12-31

FORWARD FINANCIAL CREDIT UNION, founded in 1948, is a community nonprofit that reported $4.8M in total revenue in fiscal year 2024. Expenses of $4.1M left a modest 15% surplus.

Mission

FORWARD FINANCIAL CREDIT UNION, AS A MEMBER OWNED DIRECTED COMMUNITY FINANCIAL INSTITUTION, IS DEDICATED TO SERVING THE PRESENT AND FUTURE FINANCIAL NEEDS OF OUR MEMBERS, INCLUDING LOW-INCOME AND UNDERSERVED POPULATION THROUGH COST EFFECTIVE FINANCIAL SERVICES.

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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 $3,764,473

Investment Income $1,006,145

Other Revenue $0

TOTAL REVENUE $4,770,618

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,771,207

Fundraising Expenses $0

Other Expenses $2,303,959

TOTAL EXPENSES $4,075,166

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,770,618	$4,553,493	+0.0%
Expenses	$4,075,166	$3,915,324	+0.0%
Net Income	$695,452	$638,169	+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

$140,090

Total Directors

$10,200

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SCOTT PANCHERI	VICE CHAIR	2.00	Officer Director	$2,400	$0	$2,400
DAN DECKER	CHAIR	2.00	Officer Director	$3,000	$0	$3,000
MARY ELLEN WELCHER	SECRETARY	2.00	Officer Director	$2,400	$0	$2,400
RALPH DUMKE	DIRECTOR	2.00	Director	$0	$0	$0
ANGELA MOREAU	DIRECTOR	2.00	Director	$0	$0	$0
AUDREY FREDRICK	DIRECTOR	2.00	Director	$0	$0	$0
TERESA WEST	TREASURER	2.00	Officer Director	$2,400	$0	$2,400
TAMMY YOUNG	PRESIDENT/CEO	40.00	Officer	$112,945	$16,945	$129,890

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	$4,770,618	$4,075,166	$85,956,187	$695,452
2023	$4,553,493	$3,915,324	$90,203,429	$638,169
2022	$3,922,545	$3,767,225	$95,158,001	$155,320
2021	$3,652,307	$3,509,811	$94,902,854	$142,496
2020	$3,839,327	$3,629,908	$84,858,024	$209,419
2019	$4,203,192	$3,908,943	$74,579,111	$294,249
2018	$4,042,835	$3,836,481	$71,691,933	$206,354

FORWARD FINANCIAL CREDIT UNION