MINNESOTA CREDIT UNION NETWORK

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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

1939

Legal Domicile

Principal Officer

MARA HUMPHREY

Phone

6512885170

Tax Period

2023-01-01 to 2023-12-31

MINNESOTA CREDIT UNION NETWORK, founded in 1939, is a community nonprofit that reported $2.7M in total revenue in fiscal year 2023. Revenue decreased 17% compared to the prior year.

Mission

THE ORGANIZATION WAS DESIGNED TO ENSURE THE SUCCESS GROWTH AND VITALITY OF OUR MEMBER CREDIT UNIONS BY CREATING A POSITIVE PUBLIC ENVIRONMENT THROUGH LEADERSHIP, POLITICAL ADVOCACY, EDUCATION, AWARENESS AND REGULATORY ASSISTANCE.

Program Service Accomplishments

Program 1

THE ORGANIZATION EDUCATES LEGISLATORS AT THE STATE AND FEDERAL LEVEL TO WATCH FOR LEGISLATION THAT IS POTENTIALLY HARMFUL TO THE CREDIT UNION MOVEMENT AND ITS 77 MEMBERS.

Program 2

THE ORGANIZATION PROVIDES A COMPLIANCE AND REGULATORY AVENUE FOR ITS 77 MEMBERS TO GET ANSWERS FOR ALL THEIR COMPLIANCE AND REGULATORY QUESTIONS.

Program 3

DURING THE YEAR THE ORGANIZATION MADE AVAILABLE TO ALL CREDIT UNION EMPLOYEES, DIRECTORS, AND OTHERS AFFILIATED WITH THE CREDIT UNION APPROXIMATELY 100 EDUCATIONAL EVENTS. THESE EVENTS WERE OFFERED...

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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 $2,531,470

Investment Income $98,587

Other Revenue $81,699

TOTAL REVENUE $2,711,756

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,640,619

Fundraising Expenses $0

Other Expenses $1,017,124

TOTAL EXPENSES $2,657,743

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,711,756	$3,285,374	-0.2%
Expenses	$2,657,743	$3,125,713	-0.1%
Net Income	$54,013	$159,661	-0.7%

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

$316,972

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARK CUMMINS	PRESIDENT	36.00		$305,641	$0	$321,280
MARA HUMPHREY	PRESIDENT	38.00	Officer	$303,011	$0	$316,972
JOHN FERSTL	VP	2.00	Highest	$22,346	$0	$236,015
DEB ALMIRALL	DIRECTOR	1.00	Director	$0	$0	$0
AARON DEJONG	DIRECTOR	1.00	Director	$0	$0	$0
STEVE EWERS	VICE CHAIR	1.00	Director	$0	$0	$0
JAY GOSTONCZIK	DIRECTOR	1.00	Director	$0	$0	$0
DAVE LARSON	SECRETARY/TR	1.00	Director	$0	$0	$0
MARY MATHESON	DIRECTOR	1.00	Director	$0	$0	$0
RANDY WILLERT	DIRECTOR	1.00	Director	$0	$0	$0
GREG WORTHEN	DIRECTOR	1.00	Director	$0	$0	$0
DANA GARRETT	CHAIR	1.00	Officer	$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	No data	No data	No data	No data
2023	$2,711,756	$2,657,743	$4,232,305	$54,013
2022	$3,285,374	$3,125,713	$4,136,357	$159,661
2021	$2,612,007	$2,707,006	$3,703,750	$-94,999
2020	$3,095,763	$2,697,737	$4,393,130	$398,026
2019	$2,483,577	$3,529,456	$3,500,686	$-1,045,879
2018	$2,527,702	$2,105,329	$4,543,823	$422,373