LAKE TRUST CREDIT UNION FOUNDATION

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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

2012

Legal Domicile

Principal Officer

DAVID SNODGRASS

Phone

8882677200

Tax Period

2023-01-01 to 2023-12-31

LAKE TRUST CREDIT UNION FOUNDATION, founded in 2012, is a small nonprofit in the Human Services sector that reported $375K in total revenue in fiscal year 2023. Revenue surged 44% from the prior year, signaling strong growth momentum. The organization ran a surplus of $195K, a strong 52% operating margin.

Mission

THE LAKE TRUST CREDIT UNION FOUNDATION'S PRIMARY PURPOSE IS TO CREATE HEALTHY AND VIBRANT COMMUNITIES THROUGH EDUCATING, ENGAGING AND GIVING IN THE AREAS OF ECONOMIC EMPOWERMENT AND COMMUNITY ENHANCEMENT.

Program Service Accomplishments

Program 1

Expenses: $98,241

THE LAKE TRUST CREDIT UNION FOUNDATION AWARDED COMMUNITY ORGANIZATIONS $81,026, COMMUNITY FOOD BANKS $8,465 AND ASSISTANCE PROGRAMS THROUGHOUT MID-MICHIGAN A TOTAL OF $7,905. THIS WILL HELP TO...

THE LAKE TRUST CREDIT UNION FOUNDATION AWARDED COMMUNITY ORGANIZATIONS $81,026, COMMUNITY FOOD BANKS $8,465 AND ASSISTANCE PROGRAMS THROUGHOUT MID-MICHIGAN A TOTAL OF $7,905. THIS WILL HELP TO SUPPORT COMMUNITY DEVELOPMENT AND FAMILIES IN NEED WITH FOOD AND PERSONAL SUPPLIES THROUGHOUT THE YEAR.

Program 2

Expenses: $52,095

LAKE TRUST CREDIT UNION FOUNDATION AWARDS GRANTS TO ORGANIZATIONS WHOSE PURPOSE AND CORE VALUE IS TO MAKE A DIFFERENCE BY INVESTING IN COMMUNITY DEVELOPMENT, HEALTH AND THE ARTS, CREATING VIBRANT...

LAKE TRUST CREDIT UNION FOUNDATION AWARDS GRANTS TO ORGANIZATIONS WHOSE PURPOSE AND CORE VALUE IS TO MAKE A DIFFERENCE BY INVESTING IN COMMUNITY DEVELOPMENT, HEALTH AND THE ARTS, CREATING VIBRANT NEIGHBORHOODS, A STRONGER MICHIGAN, AND A BETTER WORLD. SPECIFICALLY, THE LAKE TRUST CREDIT UNION FOUNDATION AWARDED FIVE GRANTS TOTALING $52,095. THIS WAS PROVIDED TO ASSIST WITH VARIOUS PROGRAMS IN MICHIGAN FOR HOUSING, INVESTING, AND TEEN PROGRAMS.

Program 3

Expenses: $30,000

THE LAKE TRUST CREDIT UNION FOUNDATION AWARDED FOUR GRADUATING MICHIGAN HIGH SCHOOL SENIORS A VARYING DOLLAR AMOUNT SCHOLARSHIP TOTALING $30,000 TO ATTEND A MICHIGAN UNIVERSITY, COLLEGE OR VOCATIONAL...

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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 $358,033

Program Service Revenue $0

Investment Income $5,839

Other Revenue $11,183

TOTAL REVENUE $375,055

Expense Breakdown

Grants Paid $179,491

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $180,336

Other Expenses $845

TOTAL EXPENSES $180,336

Year-over-Year Comparison

	2023	2022	Change
Revenue	$375,055	$261,044	+0.4%
Expenses	$180,336	$268,770	-0.3%
Net Income	$194,719	$-7,726	-26.2%

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

N/A

Employees

N/A

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

$1,863,822

Total Directors

$2,340,011

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID SNODGRASS	BOARD OF DIRECTORS, PRESIDENT	0.50	Officer Director	$0	$356,617	$1,320,102
RAYNOR ZILLGITT	BOARD OF DIRECTORS, SECRETARY	0.50	Officer Director	$0	$31,806	$295,164
BRANDALYNN WINCHESTER-MIDDLEBROOK	BOARD OF DIRECTORS, TREASURER	2.00	Officer Director	$0	$20,966	$248,556
THERESA DUBIEL	BOARD OF DIRECTORS	0.50	Director	$0	$20,851	$248,625
LINDA DOUGLAS	BOARD OF DIRECTORS	0.50	Director	$0	$33,517	$227,564

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	$375,055	$180,336	$981,382	$194,719
2022	$261,044	$268,770	$756,165	$-7,726
2021	$344,615	$126,188	$768,891	$218,427
2020	$237,623	$91,822	$548,964	$145,801
2019	$209,230	$84,109	$402,363	$125,121
2018	$168,976	$66,546	$274,742	$102,430