MEMORIAL EMPLOYEES FINANCIAL CREDIT UNION (EIN 591319114) - Form 990 Financial Analysis & Trantor Score

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

1971

Legal Domicile

Principal Officer

GEORGE GLASSER

Phone

9548447560

Tax Period

2024-01-01 to 2024-12-31

MEMORIAL EMPLOYEES FINANCIAL CREDIT UNION, founded in 1971, is a community nonprofit in the Public & Societal Benefit sector that reported $4.3M in total revenue in fiscal year 2024. Revenue surged 43% from the prior year, signaling strong growth momentum. Expenses of $4.1M left a modest 5% surplus.

Mission

OUR MISSION IS TO GROW ALONG WITH OUR SPONSOR BY PROVIDING LIFELONG PERSONAL SERVICE AND INNOVATIVE FINANCIAL PRODUCTS.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $3,337,090

Investment Income $963,952

Other Revenue $0

TOTAL REVENUE $4,301,042

Expense Breakdown

Grants Paid $6,200

Salaries & Benefits $1,690,392

Fundraising Expenses $0

Other Expenses $2,381,296

TOTAL EXPENSES $4,077,888

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,301,042	$2,998,863	+0.4%
Expenses	$4,077,888	$2,494,018	+0.6%
Net Income	$223,154	$504,845	-0.6%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✓ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

$751,961

Total Directors

$408,673

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DIONNE BLACKWOOD	CHAIRPERSON	5.00	Director	$0	$0	$0
WILLIAM EDELSTEIN	VICE CHAIRPERSON	5.00	Director	$0	$0	$0
WALTER NUSSELL	TREASURER	5.00	Director	$0	$0	$0
ED WARNER	SECRETARY	5.00	Director	$0	$0	$0
DENISE DICESARE	DIRECTOR	5.00	Director	$0	$0	$0
JUDY FRUM	DIRECTOR	5.00	Director	$0	$0	$0
WILLIAM WHEATLEY	DIRECTOR	5.00	Director	$0	$0	$0
LESLIE SCOTT SINGER	DIRECTOR	5.00	Director	$0	$0	$0
DEBORAH LESSARD	DIRECTOR	5.00	Director	$0	$0	$0
GEORGE GLASSER	CEO	40.00	Officer Director	$281,587	$127,086	$408,673
OSCAR SANCHEZ	SVP LENDING	40.00	Officer	$160,925	$15,501	$176,426
ELLEN HOUSMAN	CFO	40.00	Officer	$147,827	$19,035	$166,862
COLLEEN JONES	VP OF COMPLIANCE	40.00	Highest	$113,550	$14,967	$128,517

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	$4,301,042	$4,077,888	$89,035,102	$223,154
2023	$2,998,863	$2,494,018	$89,416,526	$504,845

MEMORIAL EMPLOYEES FINANCIAL CREDIT UNION