HERITAGE SOUTH COMMUNITY CU (EIN 626040478) - 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

1957

Legal Domicile

Principal Officer

Laura Parham

Phone

9316843596

Tax Period

2023-01-01 to 2023-12-31

HERITAGE SOUTH COMMUNITY CU, founded in 1957, is a mid-sized nonprofit that reported $20.0M in total revenue in fiscal year 2023. Revenue grew 14% year-over-year, indicating healthy expansion. Expenses of $17.6M left a modest 12% surplus.

Mission

Provide service in the form of loans, shares, drafts, IRA and various other services for approximately 33,519 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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $14,384,312

Investment Income $-976,095

Other Revenue $6,579,918

TOTAL REVENUE $19,988,135

Expense Breakdown

Grants Paid $0

Salaries & Benefits $7,627,951

Fundraising Expenses $0

Program Expenses $17,626,194

Other Expenses $9,998,243

TOTAL EXPENSES $17,626,194

Year-over-Year Comparison

	2023	2022	Change
Revenue	$19,988,135	$17,607,679	+0.1%
Expenses	$17,626,194	$14,056,011	+0.3%
Net Income	$2,361,941	$3,551,668	-0.3%

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

102

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

$354,777

Total Directors

Key Employees

$1,285,825

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Laura Parham	CEO	45	Officer Key Emp Highest	$354,777	$0	$354,777
David King	SVP - Information Technology	45	Key Emp Highest	$173,211	$0	$173,211
Beverly Saylor	SVP - Compliance & Internal Auditor	45	Key Emp Highest	$162,029	$0	$162,029
Jody Stovall	CFO	45	Key Emp Highest	$160,592	$0	$160,592
Betty Baker	SVP - Lending	45	Key Emp Highest	$122,353	$0	$122,353
Tony Hicks	Director of Business Lending	45	Key Emp Highest	$107,601	$0	$107,601
Geraldine Gassaway	Branch Manager	45	Key Emp Highest	$103,115	$0	$103,115
Jesse Wrenn	IT Security Administrator	45	Highest	$102,874	$0	$102,874
Brett Young	Financial Analyst	45	Key Emp Highest	$102,147	$0	$102,147
Ken Malone	Board President	1.25	Officer Director	$0	$0	$0
Talley Floyd	Board Vice President	0.5	Officer Director	$0	$0	$0
Jerry Gordon	Board Treasurer	0.5	Officer Director	$0	$0	$0
Brian Parker	Board Secretary	0.5	Officer Director	$0	$0	$0
Wyatt Burk	Board member	0.5	Director	$0	$0	$0
Clay Ledford	Board member	0.5	Director	$0	$0	$0
Andrea Anderson	Board member	0.5	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
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$19,988,135	$17,626,194	$307,924,520	$2,361,941
2022	$17,607,679	$14,056,011	$310,634,277	$3,551,668
2021	$17,719,881	$13,889,101	$308,780,084	$3,830,780
2020	$17,539,374	$14,519,210	$277,451,948	$3,020,164
2019	$18,115,825	$15,076,027	$234,540,950	$3,039,798
2018	$16,843,304	$14,026,740	$214,670,597	$2,816,564

HERITAGE SOUTH COMMUNITY CU