HAR-CO CREDIT UNION (EIN 520853115) - 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

1955

Legal Domicile

Principal Officer

MATTHEW D WHITE

Phone

4108389090

Tax Period

2024-01-01 to 2024-12-31

HAR-CO CREDIT UNION, founded in 1955, is a mid-sized nonprofit that reported $13.3M in total revenue in fiscal year 2024. Revenue grew 12% year-over-year, indicating healthy expansion. Expenses of $11.6M left a modest 13% surplus.

Mission

STATE CHARTERED 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 $0

Program Service Revenue $11,549,596

Investment Income $1,786,108

Other Revenue $0

TOTAL REVENUE $13,335,704

Expense Breakdown

Grants Paid $0

Salaries & Benefits $5,272,440

Fundraising Expenses $0

Other Expenses $6,369,085

TOTAL EXPENSES $11,641,525

Year-over-Year Comparison

	2024	2023	Change
Revenue	$13,335,704	$11,885,797	+0.1%
Expenses	$11,641,525	$9,665,881	+0.2%
Net Income	$1,694,179	$2,219,916	-0.2%

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

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

$1,864,801

Total Directors

$57,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BLAISE SEDNEY	CHAIRMAN	3.00	Director	$9,600	$0	$9,600
CHARLES WELLINGTON	DIRECTOR	2.00	Director	$6,000	$0	$6,000
THORKILD PAABY JR	DIRECTOR	2.00	Director	$6,000	$0	$6,000
TERESA KNOX	DIRECTOR	2.00	Director	$9,300	$0	$9,300
DR AUSTIN HILL	TREASURER	2.00	Director	$6,000	$0	$6,000
LAWRENCE DUKES	VICE CHAIRMAN	2.00	Director	$8,400	$0	$8,400
STEVEN JOHNSON	DIRECTOR	2.00	Director	$4,500	$0	$4,500
ERIC REBBERT	SECRETARY	2.00	Director	$7,200	$0	$7,200
MALIA DIERKEN	SVP/CONTROLLER	40.00	Officer	$139,856	$58,793	$198,649
ANGELA GREGORY	VP/SR. MORTGAGE OFFICER	40.00	Officer	$161,086	$39,101	$200,187
GILBERT KENNEDY III	PRESIDENT/CEO	40.00	Officer	$320,831	$64,424	$385,255
MARK FREYER	SVP/CRO AND CCO	40.00	Officer	$170,631	$40,312	$210,943
JOHN SHROADS JR	EVP/COO AND CCO	40.00	Officer	$217,795	$48,114	$265,909
SHARON WILSON	SVP/CTO	40.00	Officer	$163,872	$30,962	$194,834
MATTHEW WHITE	EVP/CFO	40.00	Officer	$180,515	$39,226	$219,741
ALEXANDER COULSON	SVP/CMO	40.00	Officer	$173,654	$15,629	$189,283

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	$13,335,704	$11,641,525	$260,541,605	$1,694,179
2023	$11,885,797	$9,665,881	$247,700,606	$2,219,916
2022	$9,204,810	$7,846,962	$245,148,533	$1,357,848
2021	$7,323,964	$7,219,854	$238,720,840	$104,110
2020	$7,327,198	$7,498,345	$216,009,995	$-171,147
2019	$8,381,096	$8,268,974	$189,201,674	$112,122
2018	$8,194,550	$7,881,482	$187,962,489	$313,068

HAR-CO CREDIT UNION