HEARTLAND CREDIT UNION (EIN 480612011) - 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

1948

Legal Domicile

Principal Officer

DANIEL SPRINGER

Phone

6206690177

Tax Period

2024-01-01 to 2024-12-31

HEARTLAND CREDIT UNION, founded in 1948, is a mid-sized nonprofit that reported $45.4M in total revenue in fiscal year 2024. Revenue surged 22% from the prior year, signaling strong growth momentum.

Mission

TO PROVIDE HIGH QUALITY FINANCIAL SERVICES TO 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 (2024)

Revenue Breakdown

Contributions & Grants $8,850

Program Service Revenue $43,684,599

Investment Income $1,713,892

Other Revenue $0

TOTAL REVENUE $45,407,341

Expense Breakdown

Grants Paid $32,742

Salaries & Benefits $12,681,874

Fundraising Expenses $0

Other Expenses $31,565,856

TOTAL EXPENSES $44,280,472

Year-over-Year Comparison

	2024	2023	Change
Revenue	$45,407,341	$37,223,696	+0.2%
Expenses	$44,280,472	$37,008,797	+0.2%
Net Income	$1,126,869	$214,899	+4.2%

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

Employees

175

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

$1,709,947

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
REX CHRISTNER	CHAIRMAN	3.00	Director	$0	$0	$0
SHANDI STALLMAN	VICE CHAIRMAN	2.00	Director	$0	$0	$0
SHEILA MEGGERS	SECRETARY/TREASURER	2.00	Director	$0	$0	$0
JOHN MCCANNON	BOARD MEMBER	2.00	Director	$0	$0	$0
KENDALL PULLIAM	BOARD MEMBER	2.00	Director	$0	$0	$0
MARK WOLESLAGEL	BOARD MEMBER	2.00	Director	$0	$0	$0
MIKE JUBY	BOARD MEMBER	2.00	Director	$0	$0	$0
CAROLINE PHELPS	BOARD MEMBER	2.00	Director	$0	$0	$0
DANIEL SPRINGER	PRESIDENT/CEO	50.00	Officer	$445,943	$33,786	$479,729
JOEL ANDREW	CFO	50.00	Officer	$227,281	$29,663	$256,944
MICHELLE WALN	CCO	50.00	Officer	$221,881	$16,290	$238,171
ZACHARY CLOBES	CTO	50.00	Officer	$217,386	$29,222	$246,608
BAMBI STEWART	CLO	50.00	Officer	$208,588	$32,000	$240,588
JEREMY STAUFFACHER	CXO	50.00	Officer	$218,610	$29,297	$247,907
MICHAEL LORIMOR	VP-REAL ESTATE LENDING	50.00	Highest	$150,232	$10,497	$160,729
MONTE CROSS	PRESIDENT-HWS	50.00	Highest	$142,437	$27,139	$169,576
AMY BRENNAN	VP-COMMERCIAL LENDING	50.00	Highest	$141,834	$19,481	$161,315
ANGELA MEILKE	VP-STRATEGIC INITIATIVES	50.00	Highest	$129,683	$23,690	$153,373
SARAH BASS	VP-SALES & SERVICE	50.00	Highest	$123,894	$17,159	$141,053

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	$45,407,341	$44,280,472	$643,304,405	$1,126,869
2023	$37,223,696	$37,008,797	$616,537,263	$214,899
2022	$32,731,049	$27,066,002	$598,292,270	$5,665,047
2021	$30,631,369	$20,082,628	$477,723,732	$10,548,741
2020	$27,221,484	$20,497,382	$398,179,382	$6,724,102
2019	$20,614,936	$20,028,387	$325,826,295	$586,549
2018	$18,531,016	$18,262,341	$311,284,727	$268,675

HEARTLAND CREDIT UNION