NORTHERN STAR CREDIT UNION

EIN: 540316051

PORTSMOUTH, VA

Total Revenue
$5,062,781
Total Expenses
$4,610,915
Total Assets
$72,589,637
Net Assets
$7,126,082
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1928
Legal Domicile
VA
Principal Officer
JENNIFER RILEY
Phone
7574873474
Tax Period
2024-01-01 to 2024-12-31

NORTHERN STAR CREDIT UNION, founded in 1928, is a community nonprofit that reported $5.1M in total revenue in fiscal year 2024. Revenue decreased 7% compared to the prior year. Expenses of $4.6M left a modest 9% surplus.

Mission

THE CREDIT UNION IS A MEMBER OWNED FINANCIAL COOPERATIVE THAT PROVIDES FINANCIAL SERVICES TO IT'S MEMBERS IN THE FORM OF CHECKING AND SAVINGS ACCOUNTS, LOANS, AND CERTAIN OTHER FINANCIAL SERVICES.

Program Service Accomplishments

Program 1
Expenses: $4,610,915 Revenue: $4,001,303

TO PROVIDE FINANCIAL SERVICES TO IT'S MEMBERS.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $4,001,303
Investment Income $1,061,478
Other Revenue $0
TOTAL REVENUE $5,062,781

Expense Breakdown

Grants Paid $0
Salaries & Benefits $2,011,999
Fundraising Expenses $0
Program Expenses $4,610,915
Other Expenses $2,598,916
TOTAL EXPENSES $4,610,915

Year-over-Year Comparison

2024 2023 Change
Revenue $5,062,781 $5,430,804 -0.1%
Expenses $4,610,915 $5,905,781 -0.2%
Net Income $451,866 $-474,977 -2.0%
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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Governance

Voting Members
7
Independent Members
6
Employees
26
Volunteers
10

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
$187,273
Total Directors
7
$187,273
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JENNIFER RILEY PRES/CEO/TRE 40.00
Officer Director
$181,036 $6,237 $187,273
CHASE GOODWIN DIRECTOR 0.25
Director
$0 $0 $0
CRAIG HILL DIRECTOR 0.25
Director
$0 $0 $0
TIMOTHY JOHNSON BOARD SECRET 0.25
Director
$0 $0 $0
BERNARD G MATTHEWS BOARD VICE C 0.25
Director
$0 $0 $0
CHARLES R PARKER BOARD CHAIRM 0.25
Director
$0 $0 $0
FELICIA SCALES DIRECTOR 0.25
Director
$0 $0 $0
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 $5,062,781 $4,610,915 $72,589,637 $451,866
2023 $5,430,804 $5,905,781 $76,076,745 $-474,977
2022 $5,112,971 $4,875,606 $81,827,055 $237,365
2021 $5,076,665 $4,732,508 $88,070,820 $344,157
2020 $4,728,563 $4,569,242 $91,167,856 $159,321
2019 $5,405,240 $6,002,682 $83,264,715 $-597,442
2018 $5,493,597 $5,222,346 $88,709,976 $271,251
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