EDISON CREDIT UNION (EIN 440663838) - 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

1928

Legal Domicile

Principal Officer

SALVATORE NUCCIO

Phone

8162313380

Tax Period

2024-01-01 to 2024-06-30

EDISON CREDIT UNION, founded in 1928, is a small nonprofit that reported $771K in total revenue in fiscal year 2023. Revenue fell 44% from the prior year — a significant decline worth monitoring. Expenses of $1.2M exceeded revenue, resulting in a 53% operating deficit.

Mission

TO PROVIDE HIGH QUALITY FINANCIAL SERVICES FOR OUR MEMBERS/OWNERS, ENHANCING THEIR FINANCIAL WELL-BEING WHILE MAINTAINING THE FINANCIAL STRENGTH OF THE CREDIT UNION.

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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 $0

Program Service Revenue $646,761

Investment Income $119,766

Other Revenue $3,983

TOTAL REVENUE $770,510

Expense Breakdown

Grants Paid $0

Salaries & Benefits $616,271

Fundraising Expenses $0

Other Expenses $560,099

TOTAL EXPENSES $1,176,370

Year-over-Year Comparison

	2023	2022	Change
Revenue	$770,510	$1,386,930	-0.4%
Expenses	$1,176,370	$1,306,086	-0.1%
Net Income	$-405,860	$80,844	-6.0%

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

$621,659

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL QUARLES	CHAIRMAN	1.00	Director	$0	$0	$0
BLAIN HARTKOPP	VICE CHAIRMAN	1.00	Director	$0	$0	$0
LARRY NEIDHART	SECRETARY/TREASURER	1.00	Director	$0	$0	$0
DELORA LOCKER	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL LONG	DIRECTOR	1.00	Director	$0	$0	$0
SUZANNE LAYTON	DIRECTOR	1.00	Director	$0	$0	$0
LUCI WELCH	DIRECTOR	1.00	Director	$0	$0	$0
SALVATORE NUCCIO	PRESIDENT	40.00	Officer	$431,377	$24,181	$455,558
GARY BOULWARE	VICE PRESIDENT, LENDING	40.00	Officer	$152,697	$13,404	$166,101

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	$770,510	$1,176,370	No data	$-405,860
2023	$1,386,930	$1,306,086	$32,133,700	$80,844
2022	$1,297,160	$1,352,924	$33,659,577	$-55,764
2021	$1,414,726	$1,244,351	$35,242,467	$170,375
2020	$1,374,956	$1,272,949	$33,205,908	$102,007
2019	$1,560,472	$1,269,374	$28,291,824	$291,098
2018	$1,173,512	$1,272,452	$28,139,350	$-98,940

EDISON CREDIT UNION