NORTHWOODS CREDIT UNION (EIN 410653148) - 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

1936

Legal Domicile

Principal Officer

TERRY BURN

Phone

2188794181

Tax Period

2024-01-01 to 2024-12-31

NORTHWOODS CREDIT UNION, founded in 1936, is a mid-sized nonprofit that reported $13.5M in total revenue in fiscal year 2024. Revenue grew 13% year-over-year, indicating healthy expansion. Expenses of $12.3M left a modest 9% surplus.

Mission

PROVIDE CREDIT UNION SERVICES TO MEMBERS.

🔒

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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $12,434,793

Investment Income $988,837

Other Revenue $61,000

TOTAL REVENUE $13,484,630

Expense Breakdown

Grants Paid $33,371

Salaries & Benefits $5,255,900

Fundraising Expenses $0

Other Expenses $5,084,698

TOTAL EXPENSES $12,264,605

Year-over-Year Comparison

	2024	2023	Change
Revenue	$13,484,630	$11,960,002	+0.1%
Expenses	$12,264,605	$11,930,660	+0.0%
Net Income	$1,220,025	$29,342	+40.6%

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

$658,928

Total Directors

$19,168

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JEFFREY KLETSCHER	CHAIRPERSON	1.89	Officer Director	$4,605	$0	$4,605
LARRY CHAMPEAUX	VICE CHAIRPERSON	1.10	Officer Director	$2,832	$0	$2,832
CHRISTINE NIELSON-RINGAT	SECRETARY	1.14	Officer Director	$2,920	$0	$2,920
LISA FOLLETT-POLLAK	DIRECTOR	0.73	Director	$1,975	$0	$1,975
DARREN JUNTUNEN	DIRECTOR	0.86	Director	$2,278	$0	$2,278
DEBRA J LARSON	DIRECTOR	0.90	Director	$2,453	$0	$2,453
NATHAN MANNER	DIRECTOR	0.80	Director	$2,105	$0	$2,105
TERRY BURN	SVP/CHIEF LENDING OFFICER	40.00	Officer	$176,475	$42,836	$219,311
DOUG WOLF	PRESIDENT/CEO	40.00	Officer	$180,861	$38,455	$219,316
MATTHEW FERRIN	SVP/CFO	40.00	Officer	$175,172	$34,772	$209,944
STEVEN MCCONNELL	SVP/CTO	40.00	Highest	$114,275	$7,256	$121,531

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	$13,484,630	$12,264,605	$175,915,538	$1,220,025
2023	$11,960,002	$11,930,660	$172,709,574	$29,342
2022	$11,374,020	$9,715,764	$162,399,307	$1,658,256
2021	$10,013,963	$8,738,581	$158,800,321	$1,275,382
2020	$6,129,710	$7,858,493	$139,988,463	$-1,728,783
2019	$8,371,524	$7,696,862	$120,165,800	$674,662
2018	$7,268,555	$7,022,691	$112,878,884	$245,864

NORTHWOODS CREDIT UNION