NORTH STAR COMMUNITY CREDIT UNION (EIN 450260598) - 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

1940

Legal Domicile

Principal Officer

BOB HERRINGTON

Phone

7014382222

Tax Period

2023-01-01 to 2023-12-31

NORTH STAR COMMUNITY CREDIT UNION, founded in 1940, is a mid-sized nonprofit that reported $24.6M in total revenue in fiscal year 2023. Revenue surged 35% from the prior year, signaling strong growth momentum. Expenses of $22.7M left a modest 8% surplus.

Mission

NON-PROFIT ORGANIZATION PROVIDING FINANCIAL SERVICES TO A FIELD OF MEMBERSHIP.

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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 $20,231,165

Investment Income $1,771,492

Other Revenue $2,572,963

TOTAL REVENUE $24,575,620

Expense Breakdown

Grants Paid $0

Salaries & Benefits $8,551,890

Fundraising Expenses $0

Other Expenses $14,168,969

TOTAL EXPENSES $22,720,859

Year-over-Year Comparison

	2023	2022	Change
Revenue	$24,575,620	$18,211,835	+0.3%
Expenses	$22,720,859	$15,110,783	+0.5%
Net Income	$1,854,761	$3,101,052	-0.4%

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

145

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

$676,228

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KEVIN GIGSTAD	BOARD SECRETARY	1.00	Officer Director	$0	$0	$0
MICHAEL BLACK	BOARD CHAIRMAN	1.00	Officer Director	$0	$0	$0
KENNETH KLEBE	BOARD VICE CHAIRPERSON	1.00	Officer Director	$0	$0	$0
MICHAEL FOSTER	BOARD MEMBER	1.00	Director	$0	$0	$0
CHUCK EMERY	BOARD MEMBER	1.00	Director	$0	$0	$0
JOHN RILEY	BOARD MEMBER	1.00	Director	$0	$0	$0
TAMMY MEYER	BOARD MEMBER	1.00	Director	$0	$0	$0
BOB HERRINGTON	CEO/PRESIDENT	40.00	Officer	$474,817	$40,616	$515,433
ALEX KALLIOKOSKI	CFO	40.00	Officer	$144,442	$16,353	$160,795
DEAN AANDERUD	CLO	40.00	Highest	$179,256	$23,033	$202,289
JOANN BERGRUD	COO	40.00	Highest	$146,661	$16,540	$163,201
STEVE NANNICELLI	CHIEF EXPERIENCE OFFICER	40.00	Highest	$171,757	$22,695	$194,452
YVONNE FOSSEN	HR MANAGER	40.00	Highest	$136,724	$21,118	$157,842
CHAD PETERSON	VP OF REGIONAL EXPERIENCE	40.00	Highest	$132,363	$20,922	$153,285

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	$24,575,620	$22,720,859	$488,015,644	$1,854,761
2022	$18,211,835	$15,110,783	$440,710,368	$3,101,052
2021	$17,250,607	$14,291,001	$392,799,949	$2,959,606
2020	$16,080,655	$14,068,524	$348,332,025	$2,012,131
2019	$16,631,211	$14,168,212	$311,136,853	$2,462,999
2018	$15,831,369	$12,438,149	$299,374,794	$3,393,220

NORTH STAR COMMUNITY CREDIT UNION