NEW HORIZONS CREDIT UNION (EIN 630767402) - 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

1950

Legal Domicile

Principal Officer

EDITH G FRANKLIN

Phone

2513163240

Tax Period

2024-01-01 to 2024-12-31

NEW HORIZONS CREDIT UNION, founded in 1950, is a mid-sized nonprofit that reported $12.9M in total revenue in fiscal year 2018. Revenue decreased 9% compared to the prior year. The organization ran a surplus of $2.8M, a strong 22% operating margin.

Mission

THE CREDIT UNION PROVIDES FINANCIAL SERVICES TO ITS MEMBERS IN THE FORM OF SAVINGS AND CHECKING ACCOUNTS AND ALL TYPES OF CONSUMER LOANS.

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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 $13,159,202

Investment Income $1,654,807

Other Revenue $0

TOTAL REVENUE $14,814,009

Expense Breakdown

Grants Paid $0

Salaries & Benefits $5,390,116

Fundraising Expenses $0

Other Expenses $8,290,978

TOTAL EXPENSES $13,681,094

Year-over-Year Comparison

	2024	2023	Change
Revenue	$14,814,009	$12,701,326	+0.2%
Expenses	$13,681,094	$11,292,377	+0.2%
Net Income	$1,132,915	$1,408,949	-0.2%

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

$281,985

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LINDA BROWN	DIRECTOR	1.00	Director	$0	$0	$0
DEANNA FERGUSON	SECRETARY	1.00	Officer Director	$0	$0	$0
SCOTT HUVAL	VICE CHAIRMAN	1.00	Officer Director	$0	$0	$0
LUVENIA SPOTWOOD	DIRECTOR	1.00	Director	$0	$0	$0
JOE MILLS	DIRECTOR	1.00	Director	$0	$0	$0
RALPH ALTICE	CHAIRMAN	1.00	Officer Director	$0	$0	$0
LARRY LANDRUM	TREASURER	1.00	Officer Director	$0	$0	$0
EDITH FRANKLIN	PRESIDENT/ CEO	40.00	Officer	$246,752	$35,233	$281,985

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	$14,814,009	$13,681,094	$269,374,333	$1,132,915
2023	$12,701,326	$11,292,377	$276,297,322	$1,408,949
2022	$11,191,194	$9,043,007	$254,296,343	$2,148,187
2021	$10,116,568	$8,601,808	$262,523,967	$1,514,760
2020	$10,397,372	$8,390,475	$235,373,370	$2,006,897
2019	$12,739,867	$8,969,370	$197,180,153	$3,770,497
2018	$12,918,873	$10,115,482	$199,173,777	$2,803,391

NEW HORIZONS CREDIT UNION