MAGNIFY CREDIT UNION (EIN 590683250) - 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

1950

Legal Domicile

Principal Officer

JOHN SANTARPIA

Phone

8634255611

Tax Period

2019-01-01 to 2019-11-30

MAGNIFY CREDIT UNION, founded in 1950, is a community nonprofit that reported $4.0M in total revenue in fiscal year 2019. Revenue decreased 6% compared to the prior year. Expenses of $5.5M exceeded revenue, resulting in a 38% operating deficit.

Mission

Programs of credit unions which offer a wide variety of personal financial services exclusively to their 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%)

Financial Overview (2019)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $3,479,794

Investment Income $536,422

Other Revenue $0

TOTAL REVENUE $4,016,216

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,904,027

Fundraising Expenses $0

Program Expenses $5,540,547

Other Expenses $3,636,520

TOTAL EXPENSES $5,540,547

Year-over-Year Comparison

	2019	2018	Change
Revenue	$4,016,216	$4,269,492	-0.1%
Expenses	$5,540,547	$3,937,437	+0.4%
Net Income	$-1,524,331	$332,055	-5.6%

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

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

$683,156

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOHN SANTARPIA	CEO	40.00	Officer	$683,156	$0	$683,156
SCOTT LANGSTON	DIRECTOR	2.000	Director	$0	$0	$0
CHARLES JENKINS	DIRECTOR	2.000	Director	$0	$0	$0
BRENDA HARDMAN	DIRECTOR	2.000	Director	$0	$0	$0
KAREN MORT	DIRECTOR	2.000	Director	$0	$0	$0
JOANN VASKO-CLIFFORD	DIRECTOR	2.000	Director	$0	$0	$0
JOHN MCGARRITY	DIRECTOR	2.000	Director	$0	$0	$0
JOHN SMALL	DIRECTOR	2.000	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
2019	$4,016,216	$5,540,547	No data	$-1,524,331
2018	$4,236,304	$3,937,437	$78,761,886	$298,867

MAGNIFY CREDIT UNION