MIDWEST REGIONAL CREDIT UNION (EIN 480507700) - 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

1938

Legal Domicile

Principal Officer

THAD JONES

Phone

9133344200

Tax Period

2023-01-01 to 2023-12-31

MIDWEST REGIONAL CREDIT UNION, founded in 1938, is a community nonprofit that reported $3.0M in total revenue in fiscal year 2023. Revenue surged 29% from the prior year, signaling strong growth momentum. Expenses of $2.6M left a modest 13% surplus.

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 $2,233,821

Investment Income $755,121

Other Revenue $11,781

TOTAL REVENUE $3,000,723

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,028,037

Fundraising Expenses $0

Other Expenses $1,585,667

TOTAL EXPENSES $2,613,704

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,000,723	$2,317,946	+0.3%
Expenses	$2,613,704	$2,185,592	+0.2%
Net Income	$387,019	$132,354	+1.9%

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

$165,978

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SIMON COLE	CHAIRMAN	1.00	Director	$0	$0	$0
SUSAN WHITE	SECRETARY	1.00	Director	$0	$0	$0
HARRY D SHUTE	TREASURER	1.00	Director	$0	$0	$0
BEVERLY MANLOVE	BOARD MEMBER	1.00	Director	$0	$0	$0
RICH AYERS	BOARD MEMBER	1.00	Director	$0	$0	$0
STEPHANIE HULL	BOARD MEMBER	1.00	Director	$0	$0	$0
GLORIA J OLIVER	BOARD MEMBER	1.00	Director	$0	$0	$0
THAD JONES	PRESIDENT/CEO	40.00	Officer	$146,896	$19,082	$165,978

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	$3,000,723	$2,613,704	$72,062,091	$387,019
2022	$2,317,946	$2,185,592	$75,338,740	$132,354
2021	$2,021,279	$2,206,734	$76,018,750	$-185,455
2020	$2,336,991	$2,382,622	$68,669,583	$-45,631
2019	$2,856,966	$2,521,116	$61,350,802	$335,850
2018	$2,734,161	$2,490,918	$58,817,873	$243,243

MIDWEST REGIONAL CREDIT UNION