Cornerstone Credit Union League

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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

1934

Legal Domicile

Principal Officer

CAROLINE WILLARD

Phone

8004425762

Tax Period

2023-01-01 to 2023-12-31

Cornerstone Credit Union League, founded in 1934, is a mid-sized nonprofit that reported $10.9M in total revenue in fiscal year 2023. Revenue surged 55% from the prior year, signaling strong growth momentum. Expenses of $10.3M left a modest 6% surplus.

Mission

TO PROTECT CREDIT UNIONS, AND PROMOTE THEIR GROWTH, STRENGTH AND UNITY.

Program Service Accomplishments

Program 1

INFORMATION CENTRAL PROVIDES PHONE AND EMAIL SERVICE TO CREDIT UNIONS TO PROVIDE INFORMATION ON COMPLIANCE AND REGULATORY ASSISTANCE FOR MEMBER CREDIT UNIONS. REGULATORY & COMPLIANCE GENERATES ANNUAL VIDEOS FOR COMPLIANCE ISSUES SUCH AS BSA AND DIRECTOR DUTIES AND RESPONSIBILITIES. THE INFORMATION CENTRAL DIVISION ANSWERS OVER 3,000 PHONE CALLS AND PROVIDES REGULATORY AND LEGAL UPDATES TO THE LEAGUE INFOSIGHT ONLINE COMPLIANCE MANUAL AND DISTRIBUTES MONTHLY COMPLIANCE E-NEWSLETTERS TO MEMBER CREDIT UNIONS.

Program 2

ENGAGEMENT CONSULTANTS. THE FOCUS OF THIS GROUP IS TO ACT AS THE PRIMARY POINT OF CONTACT AND DAY-TO-DAY LINK BETWEEN CORNERSTONE AND ITS CREDIT UNIONS. THEY PROVIDE HIGH TOUCH AND HIGH TECH TO...

ENGAGEMENT CONSULTANTS. THE FOCUS OF THIS GROUP IS TO ACT AS THE PRIMARY POINT OF CONTACT AND DAY-TO-DAY LINK BETWEEN CORNERSTONE AND ITS CREDIT UNIONS. THEY PROVIDE HIGH TOUCH AND HIGH TECH TO ENHANCE THE MEMBER EXPERIENCE AND MAXIMIZE THE VALUE OF LEAGUE MEMBERSHIP.

Program 3

COMPLIANCE AND REGULATORY. COMMUNICATES WITH REGULATORS, PROVIDES ANALYSIS OF NEW PROPOSALS, ASSISTS CREDIT UNIONS IN CRAFTING PERSUASIVE RESPONSES TO GOVERNING AGENCIES, AND PROVIDES INTERPRETATION...

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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 $9,905

Program Service Revenue $10,234,546

Investment Income $450,304

Other Revenue $243,928

TOTAL REVENUE $10,938,683

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,642,294

Fundraising Expenses $0

Other Expenses $6,632,561

TOTAL EXPENSES $10,274,855

Year-over-Year Comparison

	2023	2022	Change
Revenue	$10,938,683	$7,035,628	+0.6%
Expenses	$10,274,855	$7,332,954	+0.4%
Net Income	$663,828	$-297,326	-3.2%

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

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

$1,081,368

Total Directors

Key Employees

$357,995

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Caroline Willard	President/CEO	20.0	Officer	$382,733	$101,380	$866,846
James Phelps	SVP/Advocacy	30.0	Key Emp	$315,665	$42,330	$357,995
Suzanne Yashewski	Regulatory and Compliance Coun	40.0	Highest	$192,678	$30,074	$222,752
Michael Delker	CU Relations SVP	40.0	Highest	$187,872	$30,720	$218,592
Shoaib Salamat	SVP Finance and Administration	20.0	Officer	$27,179	$37,295	$214,522
Gilianne Thomas	Executive Director, TXCUA	40.0	Highest	$147,915	$29,185	$177,100
Courtney Moran	EXECUTIVE DIRECTOR, CCUF	0.0	Highest	$0	$34,485	$174,953
James Boyd	Director/Past Chair	0.5	Officer Director	$0	$0	$0
Karyn Davis	Director	0.5	Director	$0	$0	$0
Dale Hansard	Secretary	0.5	Officer Director	$0	$0	$0
Kenny Harrington	Director	0.5	Director	$0	$0	$0
Tammy Passafiume	Chairman	0.5	Officer Director	$0	$0	$0
Larry Shropshire	Director	0.5	Director	$0	$0	$0
James Tuggle	Director	0.5	Director	$0	$0	$0
JoBetsy Tyler	Treasurer	0.5	Officer Director	$0	$0	$0
David Willis	Director	0.5	Director	$0	$0	$0
Gina Wilson	Vice Chairman	0.5	Officer Director	$0	$0	$0
Brenda Kliewer	Director	0.5	Director	$0	$0	$0
Luann Schmiedel	Director	0.5	Director	$0	$0	$0
Bob Mayes	At-Large	0.5	Officer Director	$0	$0	$0
Bob McKay	Director	0.5	Director	$0	$0	$0
Jay Neathery	Director	0.5	Director	$0	$0	$0
Rick Nichols	Director	0.5	Director	$0	$0	$0
Jennifer Keim	Director	0.5	Director	$0	$0	$0
Pearl Contreras	Director	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
2024	No data	No data	No data	No data
2023	$10,938,683	$10,274,855	$36,075,945	$663,828
2022	$8,064,748	$7,348,593	$26,892,766	$716,155
2021	$7,406,645	$6,519,358	$25,425,785	$887,287
2020	$7,377,944	$7,211,933	$22,128,255	$166,011
2019	$9,679,394	$9,211,729	$22,122,189	$467,665