OTTER TAIL CREDIT UNION (EIN 410790551) - 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

1954

Legal Domicile

Principal Officer

David R West

Phone

2187365528

Tax Period

2020-01-01 to 2020-12-31

OTTER TAIL CREDIT UNION, founded in 1954, is a small nonprofit that reported $368K in total revenue in fiscal year 2020. Revenue decreased 10% compared to the prior year. Expenses of $325K left a modest 12% surplus.

Mission

The Otter Tail Credit Union is a not-for-profit, member owned, financial institution that offers financial products and services to its' members at competitive rates and fees. These products and services will be administered in the most economical way feasible. The credit union will help its' members to make better financial choices by educating them.

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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 (2020)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $218,231

Investment Income $144,209

Other Revenue $5,587

TOTAL REVENUE $368,027

Expense Breakdown

Grants Paid $0

Salaries & Benefits $156,093

Fundraising Expenses $0

Program Expenses $0

Other Expenses $168,515

TOTAL EXPENSES $324,608

Year-over-Year Comparison

	2020	2019	Change
Revenue	$368,027	$408,984	-0.1%
Expenses	$324,608	$339,486	0.0%
Net Income	$43,419	$69,498	-0.4%

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

$44,392

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
David R West	President	40	Officer	$44,392	$0	$44,392
Jeffrey McKeever	Chairman of the Board	1.6	Director	$0	$0	$0
Paul Hennen	Vice-Chairman	1.60	Director	$0	$0	$0
Russell J Larsen	Treasurer	1.60	Director	$0	$0	$0
Karen Mostue	Secretary	2.0	Director	$0	$0	$0
Tammy J Bolstad	Membership Officer	1.20	Director	$0	$0	$0
Paul Schmidt	Director	1.20	Director	$0	$0	$0
Amy Westerberg	Assistant Secretary/Treasurer	1.20	Director	$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
2020	$368,027	$324,608	$15,414,356	$43,419
2019	$408,984	$339,486	$13,626,382	$69,498
2018	$396,603	$333,260	$15,343,203	$63,343

OTTER TAIL CREDIT UNION