CLOVERBELT CREDIT UNION (EIN 390926186) - 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

1935

Legal Domicile

Principal Officer

LISA HIERONIMUS

Phone

7158425693

Tax Period

2024-01-01 to 2024-12-31

CLOVERBELT CREDIT UNION, founded in 1935, is a mid-sized nonprofit that reported $14.3M in total revenue in fiscal year 2024. Revenue grew 15% year-over-year, indicating healthy expansion. Expenses of $13.2M left a modest 8% surplus.

Mission

A COOPERATIVE, NONPROFIT CORPORATION, INCORPORATED UNDER WISCONSIN STATE LAW TO ENCOURAGE THRIFT AMONG ITS MEMBERS, CREATE A SOURCE OF CREDIT AT A FAIR AND REASONABLE COST, AND PROVIDE AN OPPORTUNITY FOR ITS MEMBERS TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS.

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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 $55,000

Program Service Revenue $13,263,094

Investment Income $1,005,778

Other Revenue $0

TOTAL REVENUE $14,323,872

Expense Breakdown

Grants Paid $82,584

Salaries & Benefits $4,186,297

Fundraising Expenses $0

Other Expenses $3,460,556

TOTAL EXPENSES $13,232,790

Year-over-Year Comparison

	2024	2023	Change
Revenue	$14,323,872	$12,492,304	+0.1%
Expenses	$13,232,790	$11,817,109	+0.1%
Net Income	$1,091,082	$675,195	+0.6%

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

$962,971

Total Directors

$20,600

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOEL BREITZMAN	CREDIT COMMITTEE	1.00	Director	$3,000	$0	$3,000
ELDON PAGEL	CHAIRMAN	1.00	Officer Director	$3,000	$0	$3,000
BEVERLY FOLGERT	SECRETARY	1.00	Officer Director	$3,000	$0	$3,000
SCOTT HUNGER	VICE CHAIRMAN	1.00	Officer Director	$3,000	$0	$3,000
MARTY KRACH	CREDIT COMMITTEE	1.00	Director	$2,800	$0	$2,800
TERRENCE PISCA	TREASURER	1.00	Officer Director	$2,800	$0	$2,800
JANEL DOEDE	CREDIT COMMITTEE	1.00	Director	$2,000	$0	$2,000
JAMES NICK	CREDIT COMMITTEE (THRU 05/24)	1.00	Director	$1,000	$0	$1,000
LISA HIERONIMUS	CEO/PRESIDENT	40.00	Officer	$296,673	$37,704	$334,377
PAUL J CHITTUM	CEO (THRU 05/24)	40.00	Officer	$157,118	$14,204	$171,322
DARAK HUTCHINSON	CLO/VICE PRESIDENT	40.00	Officer	$127,471	$71,049	$198,520
JACKIE STURZENEGGER	VICE PRESIDENT	40.00	Officer	$105,177	$40,383	$145,560
KATHLEEN VOLKMANN	VICE PRESIDENT	40.00	Officer	$88,847	$12,545	$101,392

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	$14,323,872	$13,232,790	$317,642,521	$1,091,082
2023	$12,492,304	$11,817,109	$314,880,684	$675,195
2022	$10,619,620	$8,845,071	$308,877,012	$1,774,549
2021	$9,967,829	$8,342,497	$300,302,432	$1,625,332
2020	$10,555,833	$9,074,396	$278,288,526	$1,481,437
2019	$10,912,070	$9,160,939	$254,064,665	$1,751,131
2018	$10,026,336	$8,332,155	$258,069,517	$1,694,181

CLOVERBELT CREDIT UNION