IOWA CREDIT UNION FOUNDATION

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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

1995

Legal Domicile

Principal Officer

JELENA BABIC BARNES

Phone

5152213002

Tax Period

2023-01-01 to 2023-12-31

IOWA CREDIT UNION FOUNDATION, founded in 1995, is a small nonprofit in the Unknown sector that reported $495K in total revenue in fiscal year 2023. Revenue grew 16% year-over-year, indicating healthy expansion. Expenses of $472K left a modest 5% surplus.

Mission

FOUNDED IN 1995 AS THE PHILANTHROPIC ARM OF THE IOWA CREDIT UNION LEAGUE AND GUIDED BY THE CREDIT UNION PHILOSOPHY OF "PEOPLE HELPING PEOPLE", THE IOWA CREDIT UNION FOUNDATION WORKS TO CHAMPION FINANCIAL WELL-BEING FOR ALL. ICUF'S VISION IS TO BE A HUB FOR CREDIT UNION PHILANTHROPY.

Program Service Accomplishments

Program 1

Expenses: $19,500

INDIVIDUAL DEVELOPMENT ACCOUNTS - MATCHED SAVINGS ACCOUNTS FOR LOW AND MODERATE INCOME WORKING SAVERS. ICUF MATCHES SAVINGS UP TO A CERTAIN AMOUNT BASED UPON GUIDELINES FROM MATCH FUND PROVIDERS...

INDIVIDUAL DEVELOPMENT ACCOUNTS - MATCHED SAVINGS ACCOUNTS FOR LOW AND MODERATE INCOME WORKING SAVERS. ICUF MATCHES SAVINGS UP TO A CERTAIN AMOUNT BASED UPON GUIDELINES FROM MATCH FUND PROVIDERS. SAVERS USER THE MONEY TO PURCHASE AN ASSET SUCH AS A HOME, BUSINESS, EDUCATION, OR VEHICLE.

Program 2

Expenses: $22,000

SCHOLARSHIPS: ICUF OFFERS WARREN A. MORROW MEMORIAL SCHOLARSHIPS TO CREDIT UNION MEMBERS PURSUING OR COMPLETING POST-SECONDARY EDUCATION.

Program 3

Expenses: $21,550 Revenue: $15,000

PEOPLE HELPING PEOPLE: PROVIDING FINANCIAL COACH TRAINING, DISASTER RELIEF ASSISTANCE, AND GRANTS TO OTHER ORGANIZATIONS INVESTING IN CREDIT UNION MEMBER SUPPORT.

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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 $375,364

Program Service Revenue $15,000

Investment Income $51,696

Other Revenue $52,651

TOTAL REVENUE $494,711

Expense Breakdown

Grants Paid $129,338

Salaries & Benefits $152,731

Fundraising Expenses $105,652

Program Expenses $223,659

Other Expenses $189,783

TOTAL EXPENSES $471,852

Year-over-Year Comparison

	2023	2022	Change
Revenue	$494,711	$425,847	+0.2%
Expenses	$471,852	$426,890	+0.1%
Net Income	$22,859	$-1,043	-22.9%

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

$94,952

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JELENA BABIC BARNES	EXECUTIVE DIRECTOR	40.00	Officer	$79,852	$15,100	$94,952
MARIAN HOLMES	CHAIR	1.00	Officer Director	$0	$0	$0
JORDAN HENSLEY	VICE CHAIR	1.00	Officer Director	$0	$0	$0
JULIE WILLSE	TREASURER	1.00	Officer Director	$0	$0	$0
REBECCA NEADES	SECRETARY	1.00	Officer Director	$0	$0	$0
ANN MCMILLIAN	DIRECTOR	0.50	Director	$0	$0	$0
ALEJANDRO ALANIZ	DIRECTOR	0.50	Director	$0	$0	$0
JIM ANDERSON	DIRECTOR	0.50	Director	$0	$0	$0
MARY BONTRAGER	DIRECTOR	0.50	Director	$0	$0	$0
ADAM CARROLL	DIRECTOR	0.50	Director	$0	$0	$0
ANGELA DRURY	DIRECTOR	0.50	Director	$0	$0	$0
DONNA DYER-BISCHOFF	DIRECTOR	0.50	Director	$0	$0	$0
DANIELLE GRATTON	DIRECTOR	0.50	Director	$0	$0	$0
JENNIFER NAEVE	DIRECTOR	0.50	Director	$0	$0	$0
PAULA O'ROURKE	DIRECTOR	0.50	Director	$0	$0	$0
KIM FETTKETHER	DIRECTOR	0.50	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	No data	No data	No data	No data
2023	$494,711	$471,852	$2,249,491	$22,859
2022	$425,847	$426,890	$2,092,625	$-1,043
2021	$632,907	$334,354	$2,331,808	$298,553
2020	$2,518,055	$1,037,208	$2,063,197	$1,480,847
2019	$495,626	$336,472	$525,285	$159,154