HEARTLAND CREDIT UNION (EIN 410845601) - 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

KATHLEEN HARRINGTON

Phone

6514515160

Tax Period

2023-01-01 to 2023-12-31

HEARTLAND CREDIT UNION, founded in 1939, is a community nonprofit that reported $8.3M in total revenue in fiscal year 2023. Revenue surged 21% from the prior year, signaling strong growth momentum. Expenses of $7.7M left a modest 7% surplus.

Mission

TO HELP OUR MEMBERS GET THE MOST FROM THEIR MONEY.

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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 $6,995,205

Investment Income $1,320,128

Other Revenue $0

TOTAL REVENUE $8,315,333

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,621,443

Fundraising Expenses $0

Other Expenses $3,753,109

TOTAL EXPENSES $7,709,814

Year-over-Year Comparison

	2023	2022	Change
Revenue	$8,315,333	$6,871,106	+0.2%
Expenses	$7,709,814	$5,849,956	+0.3%
Net Income	$605,519	$1,021,150	-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

$870,088

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DALE LIEB	BOARD DIRECTOR	1.00	Director	$0	$0	$0
GENE TRAXLER	BOARD VICE CHAIR	1.00	Officer Director	$0	$0	$0
NANCI LILJA	BOARD SECRETARY	1.00	Officer Director	$0	$0	$0
REX CARLSON	BOARD CHAIR	1.00	Officer Director	$0	$0	$0
NOEL LARSON	BOARD DIRECTOR	1.00	Director	$0	$0	$0
ERIC SPANDL	BOARD DIRECTOR	1.00	Director	$0	$0	$0
ANN YOUNG	BOARD DIRECTOR	1.00	Director	$0	$0	$0
ALYSSA KARL	VICE PRESIDENT - MARKETING	45.00	Officer	$120,054	$23,571	$143,625
BRITTANY KLOETZKE	VP OF LENDING	40.00	Officer	$120,823	$23,571	$144,394
JUSTIN HOULE	VP/CFO	40.00	Officer	$102,449	$17,225	$119,674
KATHLEEN HARRINGTON	PRESIDENT	45.00	Officer	$273,947	$47,825	$321,772
NATHAN DORMODY	VP OF OPERATIONS	40.00	Officer	$116,466	$24,157	$140,623

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	$8,315,333	$7,709,814	$189,890,064	$605,519
2022	$6,871,106	$5,849,956	$175,100,407	$1,021,150
2021	$7,283,732	$5,040,512	$167,172,062	$2,243,220
2020	$5,898,437	$5,878,185	$147,309,051	$20,252
2019	$5,922,149	$5,229,899	$121,609,939	$692,250
2018	$5,558,163	$4,707,827	$117,009,588	$850,336

HEARTLAND CREDIT UNION