NORTH MAIN CREDIT UNION

EIN: 581354498

Cornelia, GA

Total Revenue
$1,711,537
Total Expenses
$1,399,686
Total Assets
$29,981,369
Net Assets
$4,355,422
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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
1979
Legal Domicile
GA
Principal Officer
Melany Ward
Phone
7068949060
Tax Period
2022-01-01 to 2022-12-31

NORTH MAIN CREDIT UNION, founded in 1979, is a community nonprofit that reported $1.7M in total revenue in fiscal year 2022. Revenue surged 32% from the prior year, signaling strong growth momentum. The organization ran a surplus of $312K, a strong 18% operating margin.

Mission

Provide financial services to the various members of the financial institution including loan and deposit accounts

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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 (2022)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $1,641,113
Investment Income $70,424
Other Revenue $0
TOTAL REVENUE $1,711,537

Expense Breakdown

Grants Paid $0
Salaries & Benefits $731,987
Fundraising Expenses $0
Program Expenses $0
Other Expenses $667,699
TOTAL EXPENSES $1,399,686

Year-over-Year Comparison

2022 2021 Change
Revenue $1,711,537 $1,297,238 +0.3%
Expenses $1,399,686 $1,143,792 +0.2%
Net Income $311,851 $153,446 +1.0%
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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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
7
Independent Members
N/A
Employees
10
Volunteers
7

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
$150,814
Total Directors
7
$0
Key Employees
1
$150,814
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Melany Ward President/CEO 50
Officer Key Emp
$150,814 $0 $150,814
Ray McAlister Board Chair 2
Director
$0 $0 $0
Lawrence Bridges Director & Vice Chair 2
Director
$0 $0 $0
Deborah Beam Director & Supervisory Chair 5
Director
$0 $0 $0
Barbara Strain Director & Board Secretary 2
Director
$0 $0 $0
Amanda Chosewood Board Member 5
Director
$0 $0 $0
Adam Durkin Board Member 2
Director
$0 $0 $0
Gracie Heinen Board Member 2
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
2022 $1,711,537 $1,399,686 $29,981,369 $311,851
2021 $1,297,238 $1,143,792 $20,141,320 $153,446
2019 $1,189,334 $1,152,068 $15,588,586 $37,266
2018 $992,853 $969,083 $14,732,812 $23,770
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