CLARITY CREDIT UNION

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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

1948

Legal Domicile

Principal Officer

WENDY EDWARDS

Phone

2084676583

Tax Period

2023-01-01 to 2023-12-31

CLARITY CREDIT UNION, founded in 1948, is a mid-sized nonprofit that reported $13.3M in total revenue in fiscal year 2023. Revenue surged 29% from the prior year, signaling strong growth momentum. The organization ran a surplus of $2.3M, a strong 17% operating margin.

Mission

CLARITY CREDIT UNION VALUES PEOPLE AS INDIVIDUALS, HELPING THEM REALIZE THEIR GOALS AND ACHIEVE THEIR DREAMS. WE BUILD LIFELONG RELATIONSHIPS BY PROVIDING FINANCIAL SOLUTIONS WITHIN OUR COMMUNITY.

Program Service Accomplishments

Program 1

CLARITY CREDIT UNION SERVICES 17,960 MEMBERS IN 2023. MEMBER SERVICES ENCOURAGE THRIFT AND SAVING AND INCLUDE SAVINGS, CHECKINGS, LOANS, CDS, DEBIT CARDS, CREDIT CARDS, AND MORTGAGES.

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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 $11,429,015

Investment Income $1,576,014

Other Revenue $331,143

TOTAL REVENUE $13,336,172

Expense Breakdown

Grants Paid $66,848

Salaries & Benefits $4,249,627

Fundraising Expenses $0

Other Expenses $6,734,512

TOTAL EXPENSES $11,050,987

Year-over-Year Comparison

	2023	2022	Change
Revenue	$13,336,172	$10,347,743	+0.3%
Expenses	$11,050,987	$8,160,711	+0.4%
Net Income	$2,285,185	$2,187,032	+0.0%

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

$817,497

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRETT SPENCER	BOARD CHAIR	0.80	Officer Director	$0	$0	$0
CORY EDWARDS	VICE CHAIR	0.50	Officer Director	$0	$0	$0
VIVIAN FIRKIN	SECRETARY/TREASURER	0.80	Officer Director	$0	$0	$0
ED BARNEY	DIRECTOR	0.50	Director	$0	$0	$0
KATHLEEN ARCHER	DIRECTOR	0.50	Director	$0	$0	$0
KAREN SERRATOS	DIRECTOR	0.50	Director	$0	$0	$0
LARRY CLUCAS	DIRECTOR	0.50	Director	$0	$0	$0
WENDY EDWARDS	CEO/PRESIDENT	40.00	Officer	$236,418	$37,980	$274,398
NICK FUGAL	CFO	40.00	Officer	$166,874	$34,594	$201,468
DAN EDGERTON	CLO	40.00	Officer	$150,684	$17,792	$168,476
GRACIE FRANKS	COO	40.00	Officer	$139,460	$33,695	$173,155

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	$13,336,172	$11,050,987	$194,416,178	$2,285,185
2022	$10,347,743	$8,160,711	$168,916,965	$2,187,032
2021	$9,669,109	$6,394,766	$163,691,323	$3,274,343
2020	$7,042,459	$6,308,015	$120,040,103	$734,444
2019	$6,690,154	$5,732,687	$87,036,006	$957,467
2018	$6,074,549	$4,995,667	$77,894,188	$1,078,882