INDUSTRIAL EMPLOYEES 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

1967

Legal Domicile

Principal Officer

SHONA VARESE

Phone

6414377109

Tax Period

2025-01-01 to 2025-12-31

INDUSTRIAL EMPLOYEES CREDIT UNION, founded in 1967, is a small nonprofit that reported $513K in total revenue in fiscal year 2025. The organization ran a surplus of $107K, a strong 21% operating margin.

Mission

To create a source of credit as a fair and reasonable rate of interest, encourage habits of thrift among their members, and provide an opportunity for their members members to use and control their own money on a democratic basis in order to improve their ecomic social condition

Program Service Accomplishments

Program 1

Expenses: $406,070 Revenue: $512,663

Salaries 136171 FICA Expenses 10418 Service Charges 10152 Service Center Expense 14361 Dividend expense 49434 Credit Card Expense 35379 Debit Card Expense 31853 Misc 118302

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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 (2025)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $87,585

Investment Income $425,078

Other Revenue $0

TOTAL REVENUE $512,663

Expense Breakdown

Grants Paid $0

Salaries & Benefits $152,082

Fundraising Expenses $0

Program Expenses $406,070

Other Expenses $253,988

TOTAL EXPENSES $406,070

Year-over-Year Comparison

	2025	2024	Change
Revenue	$512,663	$494,132	+0.0%
Expenses	$406,070	$373,976	+0.1%
Net Income	$106,593	$120,156	-0.1%

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

Total Directors

Key Employees

$101,487

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SHONA VARESE	MANAGER	0.0	Key Emp	$51,824	$0	$51,824
MISTY O'HAIR	ASSISTANT MANAGER	0.0	Key Emp	$49,663	$0	$49,663
WAYNE DEVORE	CHAIRPERSON	1.0	Officer Director	$0	$0	$0
DENNIE FENTON	VICE CHAIRMAN	1.0	Officer Director	$0	$0	$0
DON KANSELAAR	PRESIDENT/TREASURER	1.0	Officer Director	$0	$0	$0
JAMES MCDANNALD	SECRETARY	1.0	Officer Director	$0	$0	$0
JAMES THOMAS	CHARIPERSON AUDIT COMMITTEE	1.0	Director	$0	$0	$0
RANDY BERRY	AUDIT COMMITTEE	1.0	Director	$0	$0	$0
PAT SNIDER	AUDIT COMMITTEE	1.0	Director	$0	$0	$0
DENNIE FENTON	CHAIRPERSON CREDIT COMMITTEE	1.0	Director	$0	$0	$0
DON KANSELAAR	CREDIT COMMITTEE	0.0	Director	$0	$0	$0
JAMES MCDANNALD	CREDIT COMMITTEE	0.0	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
2025	$512,663	$406,070	$8,851,398	$106,593
2024	$494,132	$373,976	$9,207,222	$120,156
2023	$463,761	$357,220	$9,267,531	$106,541
2022	$412,880	$328,223	$10,552,521	$84,657
2021	$384,550	$295,790	$9,736,744	$88,760
2020	$362,460	$324,540	$9,755,965	$37,920
2019	$388,613	$324,528	$8,347,225	$64,085
2018	$391,321	$299,718	$8,736,138	$91,603