RED WING CREDIT UNION (EIN 410793629) - 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

AARON S DEJONG

Phone

6513887133

Tax Period

2023-01-01 to 2023-12-31

RED WING CREDIT UNION, founded in 1954, is a community nonprofit that reported $7.7M in total revenue in fiscal year 2023. Revenue grew 14% year-over-year, indicating healthy expansion. The organization ran a surplus of $1.8M, a strong 24% operating margin.

Mission

TO PROVIDE LENDING, SAVINGS, AND OTHER FINANCIAL SERVICES TO ITS QUALIFYING MEMBERS AT TERMS GENERALLY BETTER THAN AVAILABLE IN THE MARKETPLACE AND WITH A "SERVICE-BASED EMPHASIS" THAT RECOGNIZES THE MEMBERS' STATUS AS "OWNER".

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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 $6,245,964

Investment Income $1,458,821

Other Revenue $0

TOTAL REVENUE $7,704,785

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,089,678

Fundraising Expenses $0

Other Expenses $2,063,475

TOTAL EXPENSES $5,888,288

Year-over-Year Comparison

	2023	2022	Change
Revenue	$7,704,785	$6,740,657	+0.1%
Expenses	$5,888,288	$4,406,546	+0.3%
Net Income	$1,816,497	$2,334,111	-0.2%

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

$360,244

Total Directors

$8,150

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DARYL MARK	CHAIR	0.30	Officer Director	$1,200	$0	$1,200
DAVID HULL	DIRECTOR	0.30	Director	$1,200	$0	$1,200
PAUL IRWIN	DIRECTOR	0.30	Director	$1,300	$0	$1,300
TAMMY WADLEY	BOARD MEMBER	0.30	Officer Director	$1,300	$0	$1,300
TONY SEYFFER	VICE CHAIRMAN	0.30	Director	$1,400	$0	$1,400
STACY BYSTROM	DIRECTOR	0.30	Director	$1,100	$0	$1,100
SHIRLEY PERKINS	SECRETARY	0.30	Officer Director	$650	$0	$650
AARON DEJONG	PRESIDENT	40.00	Officer	$205,924	$13,676	$219,600
STACEY STEIN	CFO	40.00	Officer	$119,283	$18,211	$137,494

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	$7,704,785	$5,888,288	$171,110,209	$1,816,497
2022	$6,740,657	$4,406,546	$168,614,210	$2,334,111
2021	$6,055,194	$4,259,917	$161,603,708	$1,795,277
2020	$5,317,724	$4,104,954	$136,549,819	$1,212,770
2019	$5,016,069	$3,689,183	$111,744,170	$1,326,886
2018	$4,425,477	$3,130,066	$103,195,228	$1,295,411

RED WING CREDIT UNION