GREATER IOWA CREDIT UNION (EIN 420664060) - 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

1932

Legal Domicile

Principal Officer

SCOTT ZAHNLE

Phone

5152328943

Tax Period

2024-01-01 to 2024-12-31

GREATER IOWA CREDIT UNION, founded in 1932, is a mid-sized nonprofit that reported $41.4M in total revenue in fiscal year 2024. Revenue grew 15% year-over-year, indicating healthy expansion. Expenses of $38.5M left a modest 7% surplus.

Mission

OUR PROMISE - WE WILL GROW WITH OUR COMMUNITIES AND OUR MEMBERS BY PROVIDING LIFELONG PERSONAL SERVICE AND INNOVATIVE FINANCIAL PRODUCTS. OUR VISION STATEMENT - GREATER IOWA CREDIT UNION WILL BECOME A PACESTTER IN THE FINANCIAL SERVICES INDUSTRY.

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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 $37,948,823

Investment Income $2,710,292

Other Revenue $714,319

TOTAL REVENUE $41,373,434

Expense Breakdown

Grants Paid $0

Salaries & Benefits $12,512,670

Fundraising Expenses $0

Program Expenses $38,467,677

Other Expenses $25,955,007

TOTAL EXPENSES $38,467,677

Year-over-Year Comparison

	2024	2023	Change
Revenue	$41,373,434	$35,933,697	+0.2%
Expenses	$38,467,677	$33,860,102	+0.1%
Net Income	$2,905,757	$2,073,595	+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

169

Volunteers

N/A

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

$1,089,561

Total Directors

Key Employees

$276,627

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROBERT BOWERS	BOARD CHAIR	2.00	Officer Director	$0	$0	$0
MIKE CRUM	BOARD VICE CHAIR	2.00	Officer Director	$0	$0	$0
GERI DERNER	SECRETARY	2.00	Officer Director	$0	$0	$0
MICHAEL WAHLIN	TREASURER	2.00	Officer Director	$0	$0	$0
ANNIE ARBUCKLE	BOARD MEMBER	2.00	Director	$0	$0	$0
LINDA ASHBY	BOARD MEMBER	2.00	Director	$0	$0	$0
SANJEEV AGARWAL	BOARD MEMBER	2.00	Director	$0	$0	$0
HALEI ANTHOFER	BOARD MEMBER	2.00	Director	$0	$0	$0
YVONNE STELPFLUG	BOARD MEMBER	2.00	Director	$0	$0	$0
ABBIE MILLER	BOARD MEMBER	2.00	Director	$0	$0	$0
SCOTT ZAHNLE	CEO	45.00	Officer	$401,110	$35,073	$436,183
NATHAN SCOTT	CLO	45.00	Officer	$189,465	$13,627	$203,092
JULIE WILLSE	COO	45.00	Officer	$238,642	$13,447	$252,089
CARLA DANIELSON	VP OF FINANCE	40.00	Officer	$175,775	$22,422	$198,197
GARY HAYENGA	VP OF CONSUMER LENDING	40.00	Key Emp	$246,394	$30,233	$276,627
RICHARD HEAD	VP OF IT	40.00	Highest	$135,158	$16,026	$151,184
DARBY HILL	VP OF HUMAN RESOURCES	40.00	Highest	$130,292	$8,979	$139,271
MARGARET WURSTER	REGIONAL DIRECTOR OF MEMBER SERVICE	40.00	Highest	$157,450	$19,384	$176,834
BRIAN DOOLEY	REGIONAL DIRECTOR OF MEMBER SERVICE	40.00	Highest	$161,429	$27,240	$188,669
MINDI WHEELER	SENIOR BUSINESS ANAYST	40.00	Highest	$118,724	$25,766	$144,490
HARRY PEGG	INFORMATION SECURITY OFFICER	40.00	Highest	$132,814	$30,869	$163,683
WILLIAM GRUND	SENIOR RELATIONSHIP MANAGER	40.00	Highest	$119,120	$16,503	$135,623
JAMES SHANKS	IT MANAGER - INFRASTRUCTURE & ENDPOINTS	40.00	Highest	$123,943	$16,426	$140,369
MICHAEL WRIGHT	IT MANAGER - APPLICATION & DATA	40.00	Highest	$123,515	$22,359	$145,874
ESTRELLA CARRASCO	BRANCH MANAGER II	40.00	Highest	$122,483	$29,817	$152,300
ERIC HOFFMAN	RISK MANAGER	40.00	Highest	$117,008	$23,876	$140,884
SHAY LUNA	BRANCH MANAGER II	40.00	Highest	$105,184	$16,220	$121,404
JOSHUA FEARNOW-SEXTON	MARKETING COMMUNITY OUTREACH MANAGER	40.00	Highest	$106,784	$14,986	$121,770

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	$41,373,434	$38,467,677	$653,087,053	$2,905,757
2023	$35,933,697	$33,860,102	$644,283,136	$2,073,595
2022	$28,864,385	$26,035,092	$656,755,237	$2,829,293
2021	$28,412,576	$25,581,024	$658,014,582	$2,831,552
2020	$28,940,581	$26,229,478	$624,464,867	$2,711,103
2019	$27,543,456	$23,412,009	$537,710,685	$4,131,447
2018	$24,180,351	$22,058,888	$456,599,369	$2,121,463

GREATER IOWA CREDIT UNION