1ST GATEWAY CREDIT UNION (EIN 420802440) - 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

1953

Legal Domicile

Principal Officer

PATRICK J DRENNEN

Phone

5635434121

Tax Period

2024-01-01 to 2024-12-31

1ST GATEWAY CREDIT UNION, founded in 1953, is a mid-sized nonprofit that reported $10.3M in total revenue in fiscal year 2024. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $9.4M left a modest 8% surplus.

Mission

NON-PROFIT FINANCIAL WORKING TO HELP CONSUMERS INVEST AND BORROW AT THE BEST RATES AND TERMS.

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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 $7,509,941

Investment Income $1,429,052

Other Revenue $1,323,599

TOTAL REVENUE $10,262,592

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,315,461

Fundraising Expenses $0

Program Expenses $9,412,592

Other Expenses $6,097,131

TOTAL EXPENSES $9,412,592

Year-over-Year Comparison

	2024	2023	Change
Revenue	$10,262,592	$9,405,272	+0.1%
Expenses	$9,412,592	$8,160,273	+0.2%
Net Income	$850,000	$1,244,999	-0.3%

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

$559,505

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PATRICK J DRENNEN	CEO	40.00	Officer	$295,910	$0	$295,910
ANGELA IZER	COO	40.00	Officer	$158,853	$0	$158,853
JENNA PAYSEN	CFO	40.00	Officer	$104,742	$0	$104,742
STEVE CUNDIFF	BOARD	N/A	Director	$0	$0	$0
ANN EISENMAN	BOARD	N/A	Director	$0	$0	$0
GARY HAINES	BOARD	N/A	Director	$0	$0	$0
BRIAN JOHNSON	BOARD	N/A	Director	$0	$0	$0
KERRY KENNEDY	BOARD	N/A	Director	$0	$0	$0
MARILYN RASMUSSEN	BOARD	N/A	Director	$0	$0	$0
ROSANN RAYMOND	BOARD	N/A	Director	$0	$0	$0
LANNY REED	BOARD	N/A	Director	$0	$0	$0
STEVE ZUIDEMA	BOARD	N/A	Director	$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
2024	$10,262,592	$9,412,592	$164,181,923	$850,000
2023	$9,405,272	$8,160,273	$159,056,358	$1,244,999
2022	$8,606,923	$7,516,923	$167,341,936	$1,090,000
2021	$8,014,799	$7,029,799	$176,575,582	$985,000
2020	$8,497,512	$7,392,512	$178,043,092	$1,105,000
2019	$8,664,766	$7,659,766	$161,079,395	$1,005,000
2018	$7,952,305	$6,657,305	$147,772,817	$1,295,000

1ST GATEWAY CREDIT UNION