HIWAY CREDIT UNION (EIN 410313750) - 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

1931

Legal Domicile

Principal Officer

JUSTIN BURLESON

Phone

6512596450

Tax Period

2023-01-01 to 2023-12-31

HIWAY CREDIT UNION, founded in 1931, is a mid-sized nonprofit that reported $94.6M in total revenue in fiscal year 2023. Revenue surged 43% from the prior year, signaling strong growth momentum. Expenses of $88.9M left a modest 6% surplus.

Mission

TO PROVIDE MEMBERS WITH 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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $70,443,855

Investment Income $20,029,038

Other Revenue $4,117,895

TOTAL REVENUE $94,590,788

Expense Breakdown

Grants Paid $0

Salaries & Benefits $30,412,577

Fundraising Expenses $0

Other Expenses $43,723,150

TOTAL EXPENSES $88,936,279

Year-over-Year Comparison

	2023	2022	Change
Revenue	$94,590,788	$66,229,807	+0.4%
Expenses	$88,936,279	$57,449,522	+0.5%
Net Income	$5,654,509	$8,780,285	-0.4%

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

306

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

$3,060,721

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JEFF SCHWALEN	BOARD CHAIR	2.50	Officer Director	$0	$0	$0
LORI HODAPP	BOARD VICE CHAIR	2.50	Officer Director	$0	$0	$0
PAM TSCHIDA	BOARD SECRETARY	2.50	Officer Director	$0	$0	$0
KIM COLLINS	BOARD MEMBER	2.50	Director	$0	$0	$0
JOHN DILLINGHAM	BOARD MEMBER	2.50	Director	$0	$0	$0
LEONARD LEITNER	BOARD MEMBER	2.50	Director	$0	$0	$0
PATRICK MCGUINESS	BOARD MEMBER	2.50	Director	$0	$0	$0
SUE MULVIHILL	BOARD MEMBER	2.50	Director	$0	$0	$0
SOPHIA XIONG-YANG	BOARD MEMBER	2.50	Director	$0	$0	$0
DAVE BODEN	CEO	40.00	Officer	$906,407	$74,597	$981,004
AARON KASTNER	CFO	40.00	Officer	$370,321	$51,751	$422,072
DEAN WARZALA	SENIOR VP OF LENDING	40.00	Officer	$330,120	$58,990	$389,110
CHRISTINE CORDELL	SENIOR VP OF ORGANIZATIONA	40.00	Officer	$293,156	$57,954	$351,110
BRIAN WHITE	SENIOR VP OF INFORMATION S	40.00	Officer	$294,891	$27,545	$322,436
GLEN DURBAHN	SENIOR VP OF MEMBER EXPERI	40.00	Officer	$286,192	$23,644	$309,836
TARA GRAFF	SENIOR VP OF MARKETING	40.00	Officer	$238,922	$46,231	$285,153
MANFRED GABRIEL	VP HUMAN RESOURCES	40.00	Highest	$282,026	$42,297	$324,323
DAVID ENGLER	VP OF INVESTMENT SERVICES	40.00	Highest	$270,245	$49,130	$319,375
DAVID WALTERS	VP CONSUMER LENDING	40.00	Highest	$240,341	$33,981	$274,322
JEFF SCHUETZ	VP OF PAYMENTS	40.00	Highest	$210,822	$49,452	$260,274
ERIC WILSON	BUSINES SERVICES CONSULTANT	40.00	Highest	$247,404	$12,179	$259,583

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
2023	$94,590,788	$88,936,279	No data	$5,654,509
2022	$66,229,807	$57,449,522	$1,740,477,248	$8,780,285
2021	$63,885,596	$53,487,419	$1,671,090,532	$10,398,177
2020	$5,603,966	$4,607,540	$1,506,184,345	$996,426

HIWAY CREDIT UNION