ROYAL CREDIT UNION (EIN 396072970) - 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

1964

Legal Domicile

Principal Officer

JOESPH HASTO

Phone

7158337254

Tax Period

2023-01-01 to 2023-12-31

ROYAL CREDIT UNION, founded in 1964, is a major nonprofit that reported $300.0M in total revenue in fiscal year 2023. Revenue surged 51% from the prior year, signaling strong growth momentum. Expenses of $258.4M left a modest 14% surplus.

Mission

TO CREATE A POSITIVE IMPACT IN THE LIVES WE TOUCH.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $272,184,436

Investment Income $27,792,141

Other Revenue $0

TOTAL REVENUE $299,976,577

Expense Breakdown

Grants Paid $2,096,487

Salaries & Benefits $84,539,805

Fundraising Expenses $0

Other Expenses $99,814,546

TOTAL EXPENSES $258,380,438

Year-over-Year Comparison

	2023	2022	Change
Revenue	$299,976,577	$198,876,123	+0.5%
Expenses	$258,380,438	$159,344,082	+0.6%
Net Income	$41,596,139	$39,532,041	+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

1132

Volunteers

456

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

$5,857,026

Total Directors

$203,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DOUG OLSON	TREASURER	10.00	Officer Director	$33,000	$0	$33,000
JOHN SACKETT	ASSISTANT SECRETARY	10.00	Officer Director	$28,000	$0	$28,000
STUART SCHAEFER	VICE CHAIRPERSON	10.00	Officer Director	$27,000	$0	$27,000
JENNIFER MCDONOUGH	SECRETARY	10.00	Officer Director	$26,500	$0	$26,500
WILLIAM BLACKBURN	ASSISTANT VICE CHAIRPERSON	10.00	Officer Director	$25,500	$0	$25,500
NANCY BELTZ	ASSISTANT TREASURER	10.00	Officer Director	$21,500	$0	$21,500
THOMAS HUFFCUTT	CHAIRPERSON	10.00	Officer Director	$41,500	$0	$41,500
BRANDON RIECHERS	CEO/PRESIDENT	40.00	Officer	$1,060,776	$747,475	$1,808,251
PAMELA HALLER	EVP-CHIEF DIGITAL EXPERIEN	40.00	Officer	$682,899	$136,534	$819,433
ADAM KINNARD	EVP-CHIEF TECHNOLOGY OFFIC	40.00	Officer	$622,999	$186,547	$809,546
MICHAEL DILL	EVP-CHIEF LENDING OFFICER	40.00	Officer	$525,926	$200,352	$726,278
JOSEPH HASTO JR	EVP-CHIEF FINANCIAL OFFICER	40.00	Officer	$430,561	$82,379	$512,940
GRANT BEARDSLEY	EVP-CHIEF LEGAL OFFICER	40.00	Officer	$417,875	$55,375	$473,250
JAN JOHNSON	EVP-ORGANIZATIONAL AGILITY	40.00	Officer	$359,402	$26,853	$386,255
LAURA CAMPBELL	EVP-CHIEF PEOPLE OFFICER	40.00	Officer	$113,106	$4,967	$118,073
MICHELLE ROBINSON	MORTGAGE SALES MANAGER	40.00	Highest	$597,110	$60,292	$657,402
DEREK LODERMEIER	MORTGAGE LOAN OFFICER	40.00	Highest	$525,427	$33,414	$558,841
JOSEPH BYDZOVSKY	MORTGAGE LOAN OFFICER	40.00	Highest	$448,418	$75,995	$524,413
JARED JOHNSON	MORTGAGE LOAN OFFICER	40.00	Highest	$411,603	$67,168	$478,771
GLEN KENNISON	VP-CREDIT RISK MANAGEMENT	40.00	Highest	$387,007	$38,168	$425,175

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	$299,976,577	$258,380,438	$5,178,101,427	$41,596,139
2022	$198,876,123	$159,344,082	$4,552,578,835	$39,532,041
2021	$185,328,498	$120,388,667	$4,046,275,359	$64,939,831
2020	$170,100,476	$141,594,596	$3,465,269,366	$28,505,880
2019	$153,742,463	$127,756,075	$2,837,926,175	$25,986,388
2018	$131,746,038	$108,366,353	$2,390,524,196	$23,379,685

ROYAL CREDIT UNION