DES MOINES WATER WORKS 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

1933

Legal Domicile

Principal Officer

JIM ANDERSON

Phone

5152821908

Tax Period

2022-01-01 to 2022-05-02

DES MOINES WATER WORKS CREDIT UNION, founded in 1933, is a micro nonprofit that reported $13K in total revenue in fiscal year 2021. Revenue fell 76% from the prior year — a significant decline worth monitoring. Expenses of $77K exceeded revenue, resulting in a 475% operating deficit.

Mission

THE ORGANIZATION OPERATES FOR THE PRIMARY PURPOSE OF PROMOTING THRIFT, PROVIDING CREDIT AT REASONABLE RATES, AND PROVIDING OTHER SERVICES TO ITS MEMBERS.

Program Service Accomplishments

Program 1

Expenses: $76,706 Revenue: $13,206

THE ORGANIZATION SERVED APPROXIMATELY 436 MEMBERS IN 2021.ON MAY 2, 2022, AT THE END OF THE BANKING BUSINESS DAY, THE CREDIT UNION MERGED WITH DES MOINES METRO CREDIT UNION (42-0214646)

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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 (2021)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $13,205

Investment Income $139

Other Revenue $1

TOTAL REVENUE $13,345

Expense Breakdown

Grants Paid $0

Salaries & Benefits $11,445

Fundraising Expenses $0

Program Expenses $76,706

Other Expenses $65,261

TOTAL EXPENSES $76,706

Year-over-Year Comparison

	2021	2020	Change
Revenue	$13,345	$56,071	-0.8%
Expenses	$76,706	$55,960	+0.4%
Net Income	$-63,361	$111	-571.8%

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

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

$10,659

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAWN HINNENKAMP	CHAIRPERSON	0.20	Officer Director	$0	$0	$0
JO BROUWER	VICE CHAIRPERSON	0.20	Officer Director	$0	$0	$0
DAVE HOWARD	CFO	0.20	Officer Director	$0	$0	$0
DONNA HECKMAN	SECRETARY	0.20	Officer Director	$0	$0	$0
AUGUST HINNENKAMP	AUDIT COMMITTEE	0.20	Director	$0	$0	$0
CHARLENE HARPER	AUDIT COMMITTEE	0.20	Director	$0	$0	$0
MATT SMITH	BOARD MEMBER	0.20	Director	$0	$0	$0
ROBERT WRIGHT	BOARD MEMBER	0.20	Director	$0	$0	$0
MICHELLE WATSON	BOARD MEMBER	0.20	Director	$0	$0	$0
NORMA THOMPSON	MANAGER	26.00	Officer	$9,719	$940	$10,659
JIM ANDERSON	ACTING CEO	1.00	Officer	$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
2022	$13,345	$76,706	No data	$-63,361
2021	$47,396	$49,254	$1,219,871	$-1,858
2020	$56,071	$55,960	$1,495,050	$111
2019	$63,531	$58,496	$1,478,752	$5,035
2018	$62,105	$58,953	$1,415,475	$3,152