RAVE FINANCIAL CREDIT UNION (EIN 741115584) - 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

1935

Legal Domicile

Principal Officer

JONATHAN E HASKETT JR

Phone

4099245151

Tax Period

2023-01-01 to 2023-12-31

RAVE FINANCIAL CREDIT UNION, founded in 1935, is a mid-sized nonprofit in the Public & Societal Benefit sector that reported $62.2M in total revenue in fiscal year 2023. Revenue surged 332% from the prior year, signaling strong growth momentum. The organization ran a surplus of $9.6M, a strong 15% operating margin.

Mission

TO ENRICH PEOPLE'S LIVES ONE EXPERIENCE AT A TIME.

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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 $56,102,913

Investment Income $5,830,357

Other Revenue $262,388

TOTAL REVENUE $62,195,658

Expense Breakdown

Grants Paid $115,786

Salaries & Benefits $22,826,249

Fundraising Expenses $0

Other Expenses $29,619,531

TOTAL EXPENSES $52,561,566

Year-over-Year Comparison

	2023	2022	Change
Revenue	$62,195,658	$14,392,822	+3.3%
Expenses	$52,561,566	$11,759,386	+3.5%
Net Income	$9,634,092	$2,633,436	+2.7%

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

336

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

$2,395,557

Total Directors

Key Employees

$1,032,631

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GARY WALDROP	CHAIRMAN	1.00	Officer Director	$0	$0	$0
PAUL WHEELINGTON	1ST VICE CHAIRMAN	1.00	Officer Director	$0	$0	$0
TONY LUCENTI	2ND VICE CHAIRMAN	1.00	Officer Director	$0	$0	$0
RAUL LITO MORALES	SECRETARY/TREASURER	1.00	Officer Director	$0	$0	$0
RICHARD D NEWTON	AUDIT COMMITTEE CHAIR	1.00	Officer Director	$0	$0	$0
CODY BURRELL	DIRECTOR	1.00	Director	$0	$0	$0
FLOYD PRICE	DIRECTOR	1.00	Director	$0	$0	$0
RAYMOND NALLIE	DIRECTOR	1.00	Director	$0	$0	$0
BRANDON RASCOE	DIRECTOR	1.00	Director	$0	$0	$0
CODY BROUSSARD	AUDIT COMMITTEE - PART YEAR	1.00	Director	$0	$0	$0
RICHARD HEGELE	DIRECTOR - PART YEAR	1.00	Director	$0	$0	$0
JOHN DOUCET	PRESIDENT/CEO	40.00	Officer	$465,343	$56,544	$521,887
JONATHAN E HASKETT JR	CHIEF FINANCIAL OFFICER	40.00	Officer	$281,154	$126,724	$407,878
KEISHA SMITH	CHIEF EXPERIENCE OFFICER	40.00	Officer	$393,205	$77,240	$470,445
LADEDRA JONES	CHIEF TECHNOLOGY OFFICER	40.00	Officer	$282,384	$115,158	$397,542
PHILLIP BRENT	CHIEF LEGAL COUNSEL	40.00	Officer	$281,435	$29,733	$311,168
CODY BUCHHOLZ	CHIEF MARKETING OFFICER	40.00	Officer	$264,858	$21,779	$286,637
PIERCE HARRINGTON	AVP SR. COMMERCIAL LENDER	40.00	Key Emp	$200,629	$28,746	$229,375
LANA FLOYD	VP OF CONSUMER LENDING	40.00	Key Emp	$178,448	$26,712	$205,160
AMANDA LEBLANC	VP OF EXPERIENCE CENTERS	40.00	Key Emp	$162,378	$23,304	$185,682
DUSTIN WILLIAMS	VP OF FINANCE & ANALYTICS	40.00	Key Emp	$174,902	$31,401	$206,303
ALLISON DEYOUNG	VP OF HUMAN RESOURCES	40.00	Key Emp	$173,551	$32,560	$206,111
JENNIFER WILLETT	COMMERCIAL LENDING & SERVICES MNGR	40.00	Highest	$130,278	$25,700	$155,978
LATISHA ADKINS	VP OF PROJECTS AND INNOVATION	40.00	Highest	$129,913	$25,980	$155,893
DALE FONTENOT	SR SYSTEM AND APPLICATION PROGRAMMER	40.00	Highest	$128,099	$19,995	$148,094
BROOKE COLLINS	VP OF VIRUTAL SERVICES	40.00	Highest	$138,177	$25,054	$163,231
CARI RIZZATO	AVP OF SUPPORT SERVICES	40.00	Highest	$126,104	$32,786	$158,890

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	No data	No data	No data	No data
2023	$62,195,658	$52,561,566	$1,107,097,765	$9,634,092
2022	$14,392,822	$11,759,386	$1,069,968,872	$2,633,436

RAVE FINANCIAL CREDIT UNION