NW IOWA 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

1996

Legal Domicile

Principal Officer

MATTHEW CHIZEK

Phone

7125467676

Tax Period

2022-01-01 to 2022-12-31

NW IOWA CREDIT UNION, founded in 1996, is a community nonprofit that reported $2.8M in total revenue in fiscal year 2022. Revenue grew 15% year-over-year, indicating healthy expansion. Expenses of $3.1M exceeded revenue, resulting in a 12% operating deficit.

Mission

N.W. IOWA CREDIT UNION IS A MEMBER OWNED, NON-PROFIT FINANCIAL INSTITUTION PROVIDING PERSONALIZED, COMPETITIVE SERVICES THAT PROMOTE THE ECONOMIC WELL-BEING OF PRESENT AND FUTURE MEMBERS.

Program Service Accomplishments

Program 1

Expenses: $3,112,378 Revenue: $2,770,938

TO CREATE A SOURCE OF CREDIT AT A FAIR AND REASONABLE RATE OF INTEREST, ENCOURAGE HABITS OF THRIFT AMONG MEMBERS, AND PROVIDE THE OPPORTUNITY FOR MEMBERS TO USE AND CONTROL THEIR SAVINGS FOR THEIR...

TO CREATE A SOURCE OF CREDIT AT A FAIR AND REASONABLE RATE OF INTEREST, ENCOURAGE HABITS OF THRIFT AMONG MEMBERS, AND PROVIDE THE OPPORTUNITY FOR MEMBERS TO USE AND CONTROL THEIR SAVINGS FOR THEIR MUTUAL BENEFIT.

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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 (2022)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $2,361,105

Investment Income $409,833

Other Revenue $0

TOTAL REVENUE $2,770,938

Expense Breakdown

Grants Paid $0

Salaries & Benefits $620,941

Fundraising Expenses $0

Program Expenses $3,112,378

Other Expenses $2,491,437

TOTAL EXPENSES $3,112,378

Year-over-Year Comparison

	2022	2021	Change
Revenue	$2,770,938	$2,407,681	+0.2%
Expenses	$3,112,378	$1,748,247	+0.8%
Net Income	$-341,440	$659,434	-1.5%

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

$120,823

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KIM WILKENS	DIRECTOR	1.00	Director	$0	$0	$0
JON BOEHME	DIRECTOR	1.00	Director	$0	$0	$0
RICH SUDTELGTE	CHAIRMAN	1.00	Director	$0	$0	$0
JOLYNN GOODCHILD	SECRETARY	1.00	Director	$0	$0	$0
ROBERT WIESE	VICE CHAIRMAN	1.00	Director	$0	$0	$0
WAYNE SCHLOTFELDT	DIRECTOR	1.00	Director	$0	$0	$0
KEN BOLTON	DIRECTOR	1.00	Director	$0	$0	$0
LIZ LOVEN	DIRECTOR	1.00	Director	$0	$0	$0
CHUCK GARVIN	DIRECTOR	1.00	Director	$0	$0	$0
STEVEN DE BOER PART YEAR	CEO	40.00	Officer	$32,012	$1,348	$33,360
MATTHEW CHIZEK	CONTRACTED EXECUTIVE (PART YEAR)	20.00	Officer	$87,463	$0	$87,463

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	$2,770,938	$3,112,378	$87,331,389	$-341,440
2021	$2,407,681	$1,748,247	$75,468,371	$659,434
2020	$2,294,523	$1,758,038	$64,679,901	$536,485
2019	$2,237,439	$1,674,717	$54,845,394	$562,722
2018	$2,003,503	$1,440,482	$50,124,342	$563,021