CREDIT UNION OF AMERICA (EIN 480477295) - 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

1935

Legal Domicile

Principal Officer

FRANK SHOFFNER

Phone

3162653272

Tax Period

2023-01-01 to 2023-12-31

CREDIT UNION OF AMERICA, founded in 1935, is a mid-sized nonprofit that reported $93.6M in total revenue in fiscal year 2023. Revenue grew 18% year-over-year, indicating healthy expansion. Expenses of $80.8M left a modest 14% surplus.

Mission

PROVIDE LENDING, SAVINGS, AND FINANCIAL SERVICES FOR MUTUAL PURPOSE, INCLUDING CONSUMER LOANS, REAL ESTATE LOANS, CREDIT CARDS, SAVINGS AND CERTIFICATE ACCOUNTS, INVESTMENT OPTIONS, AND MULTIPLE METHODS FOR MEMBER ACCESS TO THEIR FINANCIAL SERVICES AND RESOURCES.

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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 $89,336,491

Investment Income $2,979,800

Other Revenue $1,271,539

TOTAL REVENUE $93,587,830

Expense Breakdown

Grants Paid $116,920

Salaries & Benefits $25,218,414

Fundraising Expenses $0

Other Expenses $55,449,102

TOTAL EXPENSES $80,784,436

Year-over-Year Comparison

	2023	2022	Change
Revenue	$93,587,830	$79,212,400	+0.2%
Expenses	$80,784,436	$58,892,751	+0.4%
Net Income	$12,803,394	$20,319,649	-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

383

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

$3,285,856

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RICHARD GILSTRAP	CHAIRMAN	3.75	Director	$0	$0	$0
DEAN LANG	VICE CHAIRMAN	2.00	Director	$0	$0	$0
STANLEY LONGHOFER	TREASURER	3.00	Director	$0	$0	$0
MARY KAY GLASNER	SECRETARY	1.00	Director	$0	$0	$0
KEVIN KIENZIE	DIRECTOR	1.00	Director	$0	$0	$0
MARY SINGLETON	DIRECTOR	1.50	Director	$0	$0	$0
WARREN BRIGGEMAN	DIRECTOR	1.00	Director	$0	$0	$0
BRIAN MCGUIRE	DIRECTOR	2.00	Director	$0	$0	$0
CLINTON KOKER	DIRECTOR	1.00	Director	$0	$0	$0
FRANK SHOFFNER	CEO	45.00	Officer	$865,889	$186,957	$1,052,846
EILEEN PHELPS	COO (TERMINATED)	45.00	Officer	$545,185	$33,706	$578,891
LEA ANN GABBERT	CAO	45.00	Officer	$285,611	$112,920	$398,531
DAVID GERMANN	CLO	45.00	Officer	$313,248	$97,653	$410,901
GOPI MENON	CIO (TERMINATED)	45.00	Officer	$169,807	$-22,332	$147,475
SAM GROVE	CFO	45.00	Officer	$234,927	$73,915	$308,842
JON DOUGLAS	CIO	45.00	Officer	$197,316	$17,241	$214,557
NICOLE EL-CHAMI	COO	45.00	Officer	$152,961	$20,852	$173,813
JIM JACOBS	SVP RISK & ACCOUNTING	45.00	Highest	$180,261	$12,209	$192,470
KYM MONEY	VP MARKETING	45.00	Highest	$163,205	$24,955	$188,160
GINA EVANS	VP HUMAN RESOURCES	45.00	Highest	$162,262	$22,868	$185,130
ROY MANSCH	VP RETAIL OPERATIONS	45.00	Highest	$160,438	$11,427	$171,865
HEATHER BAKER	REAL ESTATE LOAN OFFICER	45.00	Highest	$157,060	$32,084	$189,144

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	$93,587,830	$80,784,436	$1,514,756,460	$12,803,394
2022	$79,212,400	$58,892,751	$1,405,805,782	$20,319,649
2021	$72,395,937	$51,474,785	$1,284,661,575	$20,921,152
2020	$69,820,080	$55,793,922	$1,164,393,655	$14,026,158
2019	$61,355,535	$51,203,493	$985,502,271	$10,152,042
2018	$54,674,662	$43,558,403	$890,895,281	$11,116,259
2018	$54,674,662	$43,558,403	$890,895,281	$11,116,259

CREDIT UNION OF AMERICA