MAGNIFI FINANCIAL CREDIT UNION (EIN 410705136) - 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

1939

Legal Domicile

Principal Officer

CHARLES FRIEDERICHS

Phone

3202563669

Tax Period

2024-01-01 to 2024-12-31

MAGNIFI FINANCIAL CREDIT UNION, founded in 1939, is a major nonprofit that reported $149.7M in total revenue in fiscal year 2024. Revenue grew 16% year-over-year, indicating healthy expansion. Expenses of $141.6M left a modest 5% surplus.

Mission

MAGNIFI FINANCIAL CREDIT UNION IS A MEMBER OWNED FINANCIAL COOPERATIVE PROVIDING LOAN, DEPOSIT AND OTHER FINANCIAL SERVICES TO 84,983 MEMBERS.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $119,403,753

Investment Income $9,177,075

Other Revenue $21,114,580

TOTAL REVENUE $149,695,408

Expense Breakdown

Grants Paid $110,271

Salaries & Benefits $45,000,928

Fundraising Expenses $0

Other Expenses $50,762,147

TOTAL EXPENSES $141,550,968

Year-over-Year Comparison

	2024	2023	Change
Revenue	$149,695,408	$128,720,153	+0.2%
Expenses	$141,550,968	$108,628,019	+0.3%
Net Income	$8,144,440	$20,092,134	-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

488

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

$4,174,567

Total Directors

$83,134

Key Employees

$2,127,580

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARTY MAHOWALD	VICE CHAIRPERSON	2.00	Officer Director	$6,460	$0	$6,460
STEVE DANZL	CHAIRPERSON	2.00	Officer Director	$0	$0	$0
MARVIN HINNENKAMP	DIRECTOR	2.00	Director	$15,900	$0	$15,900
LORI NELSON	DIRECTOR	2.00	Director	$12,263	$0	$12,263
MARK MEYER	DIRECTOR	2.00	Director	$13,213	$0	$13,213
FRED FLEISCHHACKER	TREASURER	2.00	Officer Director	$12,050	$0	$12,050
LUKE GODZALA	SECRETARY	2.00	Officer Director	$9,000	$0	$9,000
JAMES GONDRINGER	DIRECTOR	2.00	Director	$10,185	$0	$10,185
MICHELLE HUDAK	SUP COMMITTEE	2.00	Director	$2,100	$0	$2,100
JOSH KRUPKE	SUP COMMITTEE	2.00	Director	$1,063	$0	$1,063
JONATHAN OLMSCHEID	SUP COMMITTEE	2.00	Director	$900	$0	$900
CHARLES FRIEDERICHS	CHIEF EXECUTIVE OFFICER	45.00	Officer	$1,132,433	$102,397	$1,234,830
NANCY ROSKE	CHIEF ADMIN OFFICER	45.00	Officer	$387,693	$76,059	$463,752
GREG MISTERMAN	CHIEF CREDIT OFFICER	45.00	Officer	$657,753	$88,543	$746,296
ROSS BLOOMQUIST	CHIEF EXPERIENCE OFFICER	45.00	Officer	$463,046	$52,347	$515,393
ANDREA KRASKA	CHIEF OPERATIONS OFFICER	45.00	Officer	$345,862	$76,585	$422,447
MATT NOSKA	CHIEF PEOPLE OFFICER	45.00	Officer	$333,395	$64,369	$397,764
THERESA TSCHUMPERLIN	CUSO CEO	45.00	Officer	$316,328	$50,247	$366,575
GARY MEYER	SVP RETAIL BANKING	45.00	Key Emp	$263,898	$78,293	$342,191
JENN HENGEL	SVP OF PROJECT MGMT	45.00	Key Emp	$206,874	$57,794	$264,668
BRAD SHAFTON	SVP OF DIGITAL AND IT	45.00	Key Emp	$279,753	$50,113	$329,866
JANELLE BORGMANN	SVP FINANCE	45.00	Key Emp	$235,739	$74,581	$310,320
RACHEL ENDRIZZI	SVP MARKETING	45.00	Key Emp	$296,573	$66,311	$362,884
JANEL EIBENSTINER	SVP BANKING OPERATIONS	45.00	Key Emp	$215,572	$34,559	$250,131
ROB SCHMITT	SVP DIGITAL BANKING	45.00	Key Emp	$201,649	$65,871	$267,520
DEAN DIRKES	MARKET PRES COMM BANKING	45.00	Highest	$253,383	$78,516	$331,899
STEPHANIE MAYERS	FINANCIAL ADVISOR	45.00	Highest	$446,525	$76,514	$523,039
MICHAEL SCHWIETERS	FINANCIAL ADVISOR	45.00	Highest	$311,489	$69,054	$380,543
NICHOLAS RAHRICH	MARKET PRES COMM BANKING	45.00	Highest	$227,089	$62,811	$289,900
CHRIS STANLEY	COMMERCIAL BANKING OFFICER	45.00	Highest	$211,715	$68,744	$280,459

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	$149,695,408	$141,550,968	$2,441,846,026	$8,144,440
2023	$128,720,153	$108,628,019	$2,335,249,765	$20,092,134
2022	$87,403,819	$72,413,903	$2,123,114,393	$14,989,916
2021	$78,975,601	$61,813,507	$1,639,292,297	$17,162,094
2020	$74,850,818	$62,900,631	$1,453,374,392	$11,950,187
2019	$66,228,219	$52,153,934	$1,201,921,676	$14,074,285
2018	$57,068,510	$43,667,539	$1,100,060,228	$13,400,971

MAGNIFI FINANCIAL CREDIT UNION