CHARLOTTE FIRE DEPARTMENT CREDIT UN

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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

DEBORAH H TROTTER

Phone

7043753950

Tax Period

2023-01-01 to 2023-12-31

CHARLOTTE FIRE DEPARTMENT CREDIT UN, founded in 1955, is a community nonprofit in the Public & Societal Benefit sector that reported $2.3M in total revenue in fiscal year 2023. Revenue surged 21% from the prior year, signaling strong growth momentum. Net assets of $5.9M represent 31 months of operating reserves.

Mission

TO PROVIDE FINANCIAL SERVICES TO ITS MEMBERS AT REASONABLE RATES AND PAY REASONABLE DIVIDENDS

Program Service Accomplishments

Program 1

DURING THE YEAR, THE CREDIT UNION SERVED ITS MEMBERS BY PROVIDING LOANS AT REASONABLE RATES. IT ALSO ACCEPTED DEPOSITS AND PAID REASONABLE RATES OF INTEREST ON THOSE DEPOSITS.

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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 $1,694,720

Investment Income $592,154

Other Revenue $0

TOTAL REVENUE $2,286,874

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,100,710

Fundraising Expenses $0

Other Expenses $1,191,521

TOTAL EXPENSES $2,292,231

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,286,874	$1,882,782	+0.2%
Expenses	$2,292,231	$1,862,788	+0.2%
Net Income	$-5,357	$19,994	-1.3%

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

$131,798

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DEBORAH H TROTTER	MANAGER CEO	40.00	Officer	$131,798	$0	$131,798
JAMES HANLINE	BOARD MEMBER	1.00	Director	$0	$0	$0
JOHN M KEFFER	VICE CHAIRMA	1.00	Director	$0	$0	$0
LC KELLY	BOARD MEMBER	1.00	Director	$0	$0	$0
BRIAN KURZEL	CHAIRMAN	1.00	Director	$0	$0	$0
EVERETTE PASSALY	TREASURER	1.00	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	No data	No data	No data	No data
2023	$2,286,874	$2,292,231	$51,705,394	$-5,357
2022	$1,882,782	$1,862,788	$60,616,101	$19,994
2021	$1,827,462	$1,632,066	$59,497,341	$195,396
2020	$2,040,127	$1,933,325	$53,250,586	$106,802
2019	$2,227,951	$2,158,319	$48,231,097	$69,632
2018	$2,788,579	$2,030,964	$47,821,393	$757,615