MINNESOTA POWER EMPLOYEES CREDIT UNION (EIN 410418235) - Form 990 Financial Analysis & Trantor Score

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

1933

Legal Domicile

Principal Officer

DEBORA ALMIRALL

Phone

2183361800

Tax Period

2023-01-01 to 2023-12-31

MINNESOTA POWER EMPLOYEES CREDIT UNION, founded in 1933, is a community nonprofit that reported $6.9M in total revenue in fiscal year 2023. Revenue surged 36% from the prior year, signaling strong growth momentum. Expenses of $5.8M left a modest 15% surplus.

Mission

MEMBER OWNED AND MEMBER DRIVEN

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $4,935,779

Investment Income $991,113

Other Revenue $933,956

TOTAL REVENUE $6,860,848

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,781,598

Fundraising Expenses $0

Program Expenses $940,762

Other Expenses $3,234,397

TOTAL EXPENSES $5,846,752

Year-over-Year Comparison

	2023	2022	Change
Revenue	$6,860,848	$5,060,015	+0.4%
Expenses	$5,846,752	$4,086,098	+0.4%
Net Income	$1,014,096	$973,917	+0.0%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

$226,655

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MIKE FRENCH	BOARD MEMBER	2.00	Director	$0	$0	$0
MARCIA PODRATZ	BOARD CHAIR	2.00	Officer Director	$0	$0	$0
JEREMY CAINE	BOARD MEMBER	2.00	Director	$0	$0	$0
KENT OLIVER	BOARD MEMBER	2.00	Director	$0	$0	$0
NATHAN SCHMIDT	SECRETARY	2.00	Officer Director	$0	$0	$0
THOMAS MEYER	BOARD MEMBER	2.00	Director	$0	$0	$0
STEVE SHARKEY	VICE CHAIR	2.00	Officer Director	$0	$0	$0
DEBORA ALMIRALL	PRESIDENT/CEO	40.00	Officer	$190,831	$35,824	$226,655
JASON OLSEN	SVP BUSINESS LENDING	40.00	Highest	$144,792	$13,960	$158,752
ANNIE LEPPER	VP LENDING & MARKETING	40.00	Highest	$105,797	$30,507	$136,304

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	$6,860,848	$5,846,752	$147,383,740	$1,014,096
2022	$5,060,015	$4,086,098	$122,966,915	$973,917
2021	$4,364,671	$4,085,794	$121,515,330	$278,877
2020	$4,065,026	$3,719,766	$111,618,828	$345,260
2019	$4,455,132	$3,916,924	$97,433,358	$538,208
2018	$4,231,614	$3,972,181	$99,421,405	$259,433

MINNESOTA POWER EMPLOYEES CREDIT UNION