CAROLINAS CREDIT UNION FOUNDATION

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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

1993

Legal Domicile

Principal Officer

LAUREN WHALEY

Phone

3362996286

Tax Period

2024-01-01 to 2024-12-31

CAROLINAS CREDIT UNION FOUNDATION, founded in 1993, is a community nonprofit in the Education sector that reported $4.2M in total revenue in fiscal year 2024. Expenses of $3.8M left a modest 8% surplus.

Mission

TO PROVIDE EDUCATIONAL SCHOLARSHIPS, AND TO PROVIDE ASSISTANCE TO CREDIT UNIONS IN NORTH AND SOUTH CAROLINA, AND SPECIAL PROJECTS.

Program Service Accomplishments

Program 1

Expenses: $3,649,788

OUR FOUNDATION SERVES AS A PHILANTROPIC PARTNER TO ALL CREDIT UNIONS IN THE CAROLINAS THROUGH: EMPOWERING SOCIAL RESPONSIBILITY EFFORTS THAT ARE SELF- DIRECTED BY CREDIT UNIONS, CHAPTERS AND BUSINESS PARTNERS; INSPIRING CREDIT UNIONS BY SHARING AND CELEBRATING PHILANTHROPIC EFFORTS; AND COLLABORATING ON PROGRAMS AND PROJECTS THAT SUPPORT OUR COOPERATIVE PRINCIPLE OF CONCERN FOR THE COMMUNITY. OUR MISSION IS TO EMPOWER AND INSPIRE CREDIT UNIONS IN THE CAROLINAS THROUGH COLLABORATIVE OPPORUNITIES TO ENRICH OUR COMMUNITIES.

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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 $4,004,829

Program Service Revenue $0

Investment Income $152,679

Other Revenue $9,507

TOTAL REVENUE $4,167,015

Expense Breakdown

Grants Paid $3,402,166

Salaries & Benefits $330,724

Fundraising Expenses $69,341

Program Expenses $3,649,788

Other Expenses $115,250

TOTAL EXPENSES $3,848,140

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,167,015	$4,359,588	0.0%
Expenses	$3,848,140	$3,804,218	+0.0%
Net Income	$318,875	$555,370	-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

Volunteers

100

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

$193,328

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LAUREN WHALEY	EXECUTIVE DI	40.00	Officer	$169,644	$23,684	$193,328
JESSCIA BAKER	DIRECTOR	1.00	Director	$0	$0	$0
CREIGHTON BLACKWELL	DIRECTOR	1.00	Director	$0	$0	$0
DAVID BREHMER	VICE CHAIR	1.00	Officer Director	$0	$0	$0
BOB BRUNS	DIRECTOR	1.00	Director	$0	$0	$0
JAMA CAMPBELL	DIRECTOR	1.00	Director	$0	$0	$0
FRANKIE DEDONATO	DIRECTOR	1.00	Director	$0	$0	$0
PRECIOUS MCCLOUD	DIRECTOR	1.00	Director	$0	$0	$0
JENNIFER PARKER	DIRECTOR	1.00	Director	$0	$0	$0
LIZ PONDER	DIRECTOR	1.00	Director	$0	$0	$0
ASHLEY RUFFIN	SECRETARY	1.00	Officer Director	$0	$0	$0
DAN SCHLINE	DIRECTOR	1.00	Director	$0	$0	$0
SAM WHITEHURST	DIRECTOR	1.00	Director	$0	$0	$0
SCOTT WOODS	DIRECTOR	1.00	Director	$0	$0	$0
GENICE DECORTE	TREASURER	1.00	Officer	$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	$4,167,015	$3,848,140	$5,723,150	$318,875
2023	$4,359,588	$3,804,218	$5,211,747	$555,370
2022	$3,334,879	$3,445,381	$4,718,312	$-110,502
2021	$2,910,430	$2,168,184	$4,804,720	$742,246
2020	$3,242,614	$2,485,602	$4,040,438	$757,012
2020	$3,242,614	$2,485,602	$4,040,438	$757,012
2019	$2,311,945	$1,336,315	$3,259,508	$975,630
2018	$2,007,947	$1,337,065	$2,360,309	$670,882