EMPOWER CREDIT UNION (EIN 391909991) - 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

1914

Legal Domicile

Principal Officer

JIMMY JUSTMAN

Phone

4149886676

Tax Period

2024-01-01 to 2024-12-31

EMPOWER CREDIT UNION, founded in 1914, is a community nonprofit that reported $4.4M in total revenue in fiscal year 2024. Revenue grew 8% year-over-year, indicating healthy expansion. Expenses of $5.0M exceeded revenue, resulting in a 13% operating deficit.

Mission

PROMOTE THRIFT AND RESPONSIBLE BORROWING AMONG OUR MEMBERS.

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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 $3,705,281

Investment Income $693,101

Other Revenue $0

TOTAL REVENUE $4,398,382

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,250,669

Fundraising Expenses $0

Other Expenses $3,708,832

TOTAL EXPENSES $4,959,501

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,398,382	$4,064,738	+0.1%
Expenses	$4,959,501	$3,954,477	+0.3%
Net Income	$-561,119	$110,261	-6.1%

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

$199,875

Total Directors

$199,875

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL BRANDT	CEO	50.00	Officer Director	$160,294	$39,581	$199,875
JARED PECCARELLI	CHAIR	1.00	Officer Director	$0	$0	$0
BRIAN HEINZELMAN	VICE CHAIR	1.00	Officer Director	$0	$0	$0
TODD GORDON	TREASURER	1.00	Officer Director	$0	$0	$0
CYDNEY KEY	SECRETARY	1.00	Officer Director	$0	$0	$0
MATT CARPENTER	BOARD MEMBER	1.00	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	$4,398,382	$4,959,501	No data	$-561,119
2023	$4,064,738	$3,954,477	$91,316,294	$110,261
2022	$3,224,486	$3,387,568	$98,901,660	$-163,082
2021	$3,603,724	$3,585,927	$101,297,194	$17,797
2020	$4,064,654	$3,753,091	$93,983,871	$311,563
2019	$3,498,462	$3,329,413	$89,278,973	$169,049
2018	$3,466,125	$3,005,144	$85,455,412	$460,981

EMPOWER CREDIT UNION