LEGACY CREDIT UNION (EIN 440611174) - 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

1952

Legal Domicile

Principal Officer

JUSTIN COYNE

Phone

4176596013

Tax Period

2024-01-01 to 2024-12-31

LEGACY CREDIT UNION, founded in 1952, is a community nonprofit that reported $1.8M in total revenue in fiscal year 2024. Revenue surged 125% from the prior year, signaling strong growth momentum. The organization ran a surplus of $904K, a strong 51% operating margin.

Mission

ESTABLISHED TO OFFER QUALITY FINANCIAL SERVICES AND BENEFITS TO MEMBERS WHO SHARE A COMMON BOND.

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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 $704,505

Program Service Revenue $860,151

Investment Income $223,040

Other Revenue $0

TOTAL REVENUE $1,787,696

Expense Breakdown

Grants Paid $0

Salaries & Benefits $224,823

Fundraising Expenses $0

Other Expenses $659,332

TOTAL EXPENSES $884,155

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,787,696	$794,026	+1.3%
Expenses	$884,155	$614,016	+0.4%
Net Income	$903,541	$180,010	+4.0%

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

$85,026

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TIM HOUDYSHELL	CHAIRMAN	1.00	Officer Director	$0	$0	$0
SCOTT MCKEE	VICE-CHAIRMAN	1.00	Officer Director	$0	$0	$0
LESLIE JONES	SECRETARY/TREASURER	1.00	Officer Director	$0	$0	$0
DAVE TAYLOR	BOARD MEMBER	1.00	Director	$0	$0	$0
JAMES MUSCHE	BOARD MEMBER	1.00	Director	$0	$0	$0
ELIZABETH REYNOLDS	BOARD MEMBER	1.00	Director	$0	$0	$0
BARBARA HAMMETT	BOARD MEMBER	1.00	Director	$0	$0	$0
JUSTIN COYNE	MANAGER	40.00	Officer	$82,550	$2,476	$85,026

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	$1,787,696	$884,155	$24,582,445	$903,541
2023	$794,026	$614,016	$20,268,252	$180,010
2022	$610,638	$489,050	$19,907,229	$121,588
2021	$618,158	$446,850	$19,644,860	$171,308
2020	$582,928	$435,288	$18,251,313	$147,640
2019	$561,065	$411,337	$16,972,286	$149,728
2018	$527,191	$391,053	$17,804,375	$136,138

LEGACY CREDIT UNION