NORTH IOWA COMMUNITY CREDIT UNION (EIN 420806064) - 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

1956

Legal Domicile

Principal Officer

SCOTT J SHIPMAN

Phone

6414242281

Tax Period

2024-01-01 to 2024-12-31

NORTH IOWA COMMUNITY CREDIT UNION, founded in 1956, is a community nonprofit that reported $8.6M in total revenue in fiscal year 2024. Revenue surged 22% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.4M, a strong 16% operating margin.

Mission

TO PROVIDE FINANCIAL SERVICES TO OUR MEMBERS SUCH AS CHECKING, SAVINGS, AND BOTH PERSONAL AND REAL ESTATE LOANS.

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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 $7,632,024

Investment Income $327,727

Other Revenue $641,825

TOTAL REVENUE $8,601,576

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,376,115

Fundraising Expenses $0

Program Expenses $7,242,279

Other Expenses $4,866,164

TOTAL EXPENSES $7,242,279

Year-over-Year Comparison

	2024	2023	Change
Revenue	$8,601,576	$7,059,195	+0.2%
Expenses	$7,242,279	$6,286,548	+0.2%
Net Income	$1,359,297	$772,647	+0.8%

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

$389,861

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARK BROSZ	CHAIRMAN	0.75	Officer Director	$0	$0	$0
MICHAEL SHANNON	VICE CHAIR	0.75	Officer Director	$0	$0	$0
KEVIN D EASLEY	SECRETARY	0.75	Officer Director	$0	$0	$0
JACOB SCHWEITZER	BOARD MEMBER	0.75	Director	$0	$0	$0
VICKY GINDER	BOARD MEMBER	0.75	Director	$0	$0	$0
MAE MILES	BOARD MEMBER	0.75	Director	$0	$0	$0
ROGER ESKILDSEN	BOARD MEMBER	0.75	Director	$0	$0	$0
KRISTIN STOCKBERGER	BOARD MEMBER	0.75	Director	$0	$0	$0
SUSAN HENDERSHOT	COO	40.00	Officer	$126,472	$12,627	$139,099
SCOTT J SHIPMAN	PRESIDENT	40.00	Officer	$237,429	$13,333	$250,762

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	$8,601,576	$7,242,279	$118,211,564	$1,359,297
2023	$7,059,195	$6,286,548	$117,579,827	$772,647
2022	$4,924,046	$4,248,851	$103,286,110	$675,195
2021	$4,419,625	$3,896,666	$84,536,441	$522,959
2020	$4,111,853	$4,011,853	$82,220,821	$100,000
2019	$4,166,909	$4,086,028	$76,444,346	$80,881
2018	$3,830,675	$3,692,460	$77,750,537	$138,215

NORTH IOWA COMMUNITY CREDIT UNION