HERITAGE SOUTH CREDIT UNION (EIN 630288900) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1937

Legal Domicile

Principal Officer

JAMIE PAYTON

Phone

8882454776

Tax Period

2024-01-01 to 2024-12-31

HERITAGE SOUTH CREDIT UNION, founded in 1937, is a community nonprofit that reported $7.7M in total revenue in fiscal year 2018. Revenue grew 10% year-over-year, indicating healthy expansion.

Mission

TO PROVIDE FINANCIAL SERVICES TO OUR SELECT MEMBERSHIP.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $8,326,663

Investment Income $1,460,251

Other Revenue $3,341,443

TOTAL REVENUE $13,128,357

Expense Breakdown

Grants Paid $0

Salaries & Benefits $4,205,237

Fundraising Expenses $0

Other Expenses $8,667,116

TOTAL EXPENSES $12,872,353

Year-over-Year Comparison

	2024	2023	Change
Revenue	$13,128,357	$11,239,124	+0.2%
Expenses	$12,872,353	$10,274,103	+0.3%
Net Income	$256,004	$965,021	-0.7%

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

$626,570

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JIM PATTON	CHAIRPERSON	1.00	Director	$0	$0	$0
RANDALL MORRIS	VICE-CHAIRPERSON	1.00	Director	$0	$0	$0
LARRY BLANCHARD	DIRECTOR	1.00	Director	$0	$0	$0
ONDI TURNER	DIRECTOR	1.00	Director	$0	$0	$0
ANGELA HUGHES	DIRECTOR	1.00	Director	$0	$0	$0
MINDY GRIER	DIRECTOR	1.00	Director	$0	$0	$0
WAYNE SAYERS	DIRECTOR	1.00	Director	$0	$0	$0
JAMIE PAYTON	CEO	40.00	Officer	$155,420	$62,471	$217,891
LINDSEY MARLOW	COO	40.00	Officer	$106,245	$36,969	$143,214
ANNA TYLER	CLO	40.00	Officer	$107,519	$58,385	$165,904
JAMIE ELLIOT	CFO	40.00	Officer	$67,983	$31,578	$99,561

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	$13,128,357	$12,872,353	$181,332,851	$256,004
2023	$11,239,124	$10,274,103	$174,762,433	$965,021
2022	$9,575,524	$8,587,673	$167,185,802	$987,851
2021	$8,672,774	$7,904,291	$172,610,156	$768,483
2020	$8,549,369	$7,973,339	$163,409,068	$576,030
2019	$8,427,303	$7,935,396	$142,991,949	$491,907
2018	$7,734,067	$7,813,228	$125,141,054	$-79,161

HERITAGE SOUTH CREDIT UNION