GREAT LAKES CREDIT AND COLLECTION … - Form 990 Financial Data

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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

2016

Legal Domicile

Principal Officer

TAMMY SCHOENBERG

Phone

9522592143

Tax Period

2024-01-01 to 2024-12-31

GREAT LAKES CREDIT AND COLLECTION INC, founded in 2016, is a small nonprofit that reported $158K in total revenue in fiscal year 2024. Revenue surged 23% from the prior year, signaling strong growth momentum. Expenses of $144K left a modest 9% surplus.

Mission

FURTHER AND PROMOTE THE GENERAL WELFARE OF THE CREDIT COLLECTION PROFESSION; REGULATE PRACTICES, PRESCRIBE ETHICS AND ENFORCE PROPER CONDUCT AS DEFINED BY THE ACA INTERNATIONAL (ACA) CODE OF CONDUCT AMONG ITS MEMBER; PROMOTE THE ADOPTION OF LEGISLATION FAVORABLE TO THE RIGHTS OF COLLECTORS AND CREDIT GRANTORS; AND GATHER AND DISSEMINATE MATERIAL RELATIVE TO THE COLLECTION PROFESSION WHICH MAY BE VALUABLE TO MEMBERS OF THE ASSOCIATION.

Program Service Accomplishments

Program 1

Expenses: $144,195

THE GREAT LAKES CREDIT AND COLLECTION ASSOCIATION PROVIDED EDUCATION TO THE INDUSTRY DURING THE YEAR.

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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 $10,075

Program Service Revenue $99,376

Investment Income $48,965

Other Revenue $0

TOTAL REVENUE $158,416

Expense Breakdown

Grants Paid $13,030

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $144,195

Other Expenses $131,165

TOTAL EXPENSES $144,195

Year-over-Year Comparison

	2024	2023	Change
Revenue	$158,416	$128,677	+0.2%
Expenses	$144,195	$113,908	+0.3%
Net Income	$14,221	$14,769	0.0%

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ANDREA QUIST	DIRECTOR	1.00	Director	$0	$0	$0
JAIME BARTHEL	IMMEDIATE PAST PRESIDENT	1.00	Officer Director	$0	$0	$0
JESSICA ALBRECHT	DIRECTOR	1.00	Director	$0	$0	$0
JUSTIN PENN	TREASURER	1.00	Officer Director	$0	$0	$0
LUKE CHECK	DIRECTOR	1.00	Director	$0	$0	$0
MICKEY PUTMAN	DIRECTOR	1.00	Director	$0	$0	$0
NATE KALNINS	PRESIDENT	5.00	Officer Director	$0	$0	$0
PATRICK NEWMAN	SECRETARY/TREASURER	1.00	Officer Director	$0	$0	$0
REBECCA ROSS-STEWART	DIRECTOR	1.00	Director	$0	$0	$0
RICK BONITZER	DIRECTOR	1.00	Director	$0	$0	$0
RYAN MATRISCH	IMMEDIATE PAST PRESIDENT	1.00	Officer Director	$0	$0	$0
TOM OLDANI	PRESIDENT-ELECT	1.00	Officer 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	$158,416	$144,195	$592,006	$14,221
2023	$128,677	$113,908	$347,366	$14,769
2022	$127,817	$141,337	$346,840	$-13,520
2021	$197,946	$214,392	$406,814	$-16,446
2020	$173,335	$175,556	$424,404	$-2,221
2019	$235,945	$196,575	$446,357	$39,370
2018	$173,159	$172,716	$386,053	$443

GREAT LAKES CREDIT AND COLLECTION INC