SOO SELECT CREDIT UNION

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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

1953

Legal Domicile

Principal Officer

JOYCE KALBAKDALEN

Phone

2186812303

Tax Period

2018-01-01 to 2018-10-31

SOO SELECT CREDIT UNION, founded in 1953, is a small nonprofit that reported $550K in total revenue in fiscal year 2018. Revenue decreased 13% compared to the prior year. Expenses of $693K exceeded revenue, resulting in a 26% operating deficit.

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 "OWNERS".

Program Service Accomplishments

Program 1

DIVIDENDS AND INTEREST ON MEMBERS SAVINGS ACCOUNTS AND CD'S PAID TO OVER 2700 MEMBERS.

Program 2

LIFE SAVINGS INSURANCE WHICH PROVIDES LIFE INSURANCE PROTECTION TO MEMBERS BASED ON THE BALANCE IN THEIR SHARE ACCOUNT.

Program 3

ANNUAL MEETING OF MEMBERS AT WHICH THE CREDIT UNION OFFICERS REPORT TO THE MEMBERS ON THE OPERATION OF THE CREDIT UNION. THE MEMBERS ELECT THE BOARD OF DIRECTORS AND COMMITTEE MEMBERS. OVER 100...

ANNUAL MEETING OF MEMBERS AT WHICH THE CREDIT UNION OFFICERS REPORT TO THE MEMBERS ON THE OPERATION OF THE CREDIT UNION. THE MEMBERS ELECT THE BOARD OF DIRECTORS AND COMMITTEE MEMBERS. OVER 100 MEMBERS ATTENDED.

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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 (2018)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $461,102

Investment Income $89,218

Other Revenue $0

TOTAL REVENUE $550,320

Expense Breakdown

Grants Paid $0

Salaries & Benefits $336,988

Fundraising Expenses $0

Other Expenses $334,405

TOTAL EXPENSES $693,334

Year-over-Year Comparison

	2018	2017	Change
Revenue	$550,320	$632,795	-0.1%
Expenses	$693,334	$606,987	+0.1%
Net Income	$-143,014	$25,808	-6.5%

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

$104,931

Total Directors

$1,272

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROBERT WOLD	PRESIDENT	1.00	Officer Director	$264	$0	$264
DANA JENKINS	DIRECTOR	1.00	Director	$288	$0	$288
RONNIE SKALLET	SECRETARY	1.00	Officer Director	$240	$0	$240
DAVID PAULSON	DIRECTOR	1.00	Director	$216	$0	$216
BRUCE BJORGAARD	VICE PRESIDENT	1.00	Officer Director	$264	$0	$264
JOYCE KALBAKDALEN	PRESIDENT/CEO	50.00	Officer	$104,163	$0	$104,163

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
2018	$550,320	$693,334	No data	$-143,014