SOUTHPOINT FINANCIAL CREDIT UNION (EIN 410518425) - 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

1936

Legal Domicile

Principal Officer

JAY A GOSTONCZIK

Phone

5077946712

Tax Period

2023-01-01 to 2023-12-31

SOUTHPOINT FINANCIAL CREDIT UNION, founded in 1936, is a mid-sized nonprofit that reported $26.1M in total revenue in fiscal year 2023. Revenue surged 23% from the prior year, signaling strong growth momentum. Expenses of $24.7M left a modest 5% surplus.

Mission

SOUTHPOINT FINANCIAL CREDIT UNION EMPOWERS MEMBERS TO ACHIEVE THEIR GOALS AND DREAMS BY PROVIDING EXCEPTIONAL SERVICE AND GUIDANCE. WE ASPIRE TO BECOME THE PRIMARY FINANCIAL INSTITUTION FOR MEMBERS, CONTRIBUTE TO THE WELL-BEING OF OUR COMMUNITIES AND MAINTAIN EARNINGS AND RESERVES WHICH PROMOTE SOUND GROWTH AND ENCOURAGE MEMBER CONFIDENCE AND LOYALTY.

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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 $24,710,206

Investment Income $1,432,686

Other Revenue $0

TOTAL REVENUE $26,142,892

Expense Breakdown

Grants Paid $0

Salaries & Benefits $8,376,187

Fundraising Expenses $0

Other Expenses $10,229,362

TOTAL EXPENSES $24,723,024

Year-over-Year Comparison

	2023	2022	Change
Revenue	$26,142,892	$21,293,740	+0.2%
Expenses	$24,723,024	$18,078,756	+0.4%
Net Income	$1,419,868	$3,214,984	-0.6%

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

141

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

$897,537

Total Directors

$30,152

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ASHOK GOYAL	DIRECTOR	4.00	Director	$5,776	$0	$5,776
MATTHEW LUX	CHAIRMAN	4.00	Officer Director	$4,569	$0	$4,569
ADAM SEIFERT	DIRECTOR - VICE CHAIRMAN	4.00	Officer Director	$3,900	$0	$3,900
JERRY FORSTER	DIRECTOR	4.00	Director	$3,502	$0	$3,502
CHARLES GRAVELLE	DIRECTOR - SECRETARY	4.00	Officer Director	$3,466	$0	$3,466
ROBERT WEISS	DIRECTOR	4.00	Director	$3,096	$0	$3,096
SCOTT SUPRENANT	DIRECTOR	4.00	Director	$2,725	$0	$2,725
MARK BRUGGEMAN	DIRECTOR	4.00	Director	$2,425	$0	$2,425
MIKE KRUEGER	VICE-CHAIRMAN (PART YEAR)	4.00	Officer Director	$693	$0	$693
JEFFREY IBBERSON	DIRECTOR (PART YEAR)	4.00	Director	$0	$0	$0
JAY GOSTONCZIK	CEO	40.00	Officer	$273,594	$34,607	$308,201
AL PETERSON	CFO	40.00	Officer	$184,770	$19,375	$204,145
TROY DIEDRICH	CHIEF EXPERIENCE OFFICER	40.00	Officer	$176,123	$10,250	$186,373
PATRICE GOHL	CHIEF OPERATIONS OFFICER	40.00	Officer	$175,770	$10,420	$186,190
DAVID SCHOUTEN	CIO	40.00	Highest	$134,782	$9,923	$144,705
ROBERT SCHMID	CLO	40.00	Highest	$130,782	$10,308	$141,090
THOMAS BATTIS	DIRECTOR OF GROWTH AND REVENUE	40.00	Highest	$101,190	$24,058	$125,248
JOEL HEITNER	DIRECTOR OF DEPOSITS AND MEMBERS	40.00	Highest	$116,853	$6,670	$123,523
JEFFREY ANDERSON	VP OF LENDING	40.00	Highest	$102,577	$17,641	$120,218

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	$26,142,892	$24,723,024	$524,062,187	$1,419,868
2022	$21,293,740	$18,078,756	$533,091,091	$3,214,984
2021	$21,366,397	$16,850,522	$509,297,128	$4,515,875
2020	$20,893,636	$18,431,945	$432,718,666	$2,461,691
2018	$16,496,430	$14,735,064	$353,734,866	$1,761,366

SOUTHPOINT FINANCIAL CREDIT UNION