MID AMERICAN CREDIT UNION (EIN 480542669) - 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

1936

Legal Domicile

Principal Officer

BRADLEY HERZET

Tax Period

2023-01-01 to 2023-12-31

MID AMERICAN CREDIT UNION, founded in 1936, is a mid-sized nonprofit that reported $26.2M in total revenue in fiscal year 2023. Revenue grew 16% year-over-year, indicating healthy expansion. Expenses of $24.5M left a modest 7% surplus.

Mission

TO BE OUR MEMBERS' TRUSTED FINANCIAL HOME.

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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 $25,870,777

Investment Income $379,160

Other Revenue $0

TOTAL REVENUE $26,249,937

Expense Breakdown

Grants Paid $0

Salaries & Benefits $8,223,963

Fundraising Expenses $0

Other Expenses $16,292,720

TOTAL EXPENSES $24,516,683

Year-over-Year Comparison

	2023	2022	Change
Revenue	$26,249,937	$22,689,935	+0.2%
Expenses	$24,516,683	$19,831,004	+0.2%
Net Income	$1,733,254	$2,858,931	-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

139

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

$1,299,848

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
REBECCA BOUSKA	BOARD MEMBER	0.50	Director	$0	$0	$0
JOHN SHERWOOD	BOARD MEMBER	0.50	Director	$0	$0	$0
KATHY JEWETT	VICE CHAIR	0.50	Officer Director	$0	$0	$0
RICHARD D DIXON	SECRETARY	0.50	Officer Director	$0	$0	$0
TRENT CUSICK	CHAIR	0.50	Officer Director	$0	$0	$0
CLINT LOPEZ	TREASURER	0.50	Officer Director	$0	$0	$0
BRADLEY HERZET	PRESIDENT/CEO	40.00	Officer	$336,552	$15,151	$351,703
KIM WHEELOCK	SVP - CIO & COO	40.00	Officer	$201,500	$20,428	$221,928
MICHAEL WELLI	VP - MARKETING	40.00	Officer	$168,686	$6,404	$175,090
GREGORY TETER	CFO	40.00	Officer	$179,362	$16,843	$196,205
MILTON BALZER	VP - LENDING	40.00	Officer	$168,615	$12,591	$181,206
DANA HASENKAMP	VP - HR & FACILITIES	40.00	Officer	$163,583	$10,133	$173,716

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
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$26,249,937	$24,516,683	$422,717,258	$1,733,254
2022	$22,689,935	$19,831,004	$407,860,707	$2,858,931
2021	$22,939,489	$18,713,143	$369,701,114	$4,226,346
2020	$21,440,709	$19,502,504	$350,793,426	$1,938,205
2019	$20,687,822	$18,687,730	$315,654,590	$2,000,092
2018	$19,686,555	$18,173,106	$298,491,111	$1,513,449

MID AMERICAN CREDIT UNION