Simplot 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

1955

Legal Domicile

Principal Officer

Amy Wellard

Phone

2082345360

Tax Period

2023-01-01 to 2023-12-31

Simplot Credit Union, founded in 1955, is a community nonprofit that reported $2.8M in total revenue in fiscal year 2023. Revenue surged 101% from the prior year, signaling strong growth momentum. Expenses of $2.5M left a modest 11% surplus.

Mission

Honoring the men and women of Simplot by providing an exclusive financial home for our families through personalized products and services. Our Credit Union focuses on the financial success of our members today and into the future.

Program Service Accomplishments

Program 1

Promoting the financial well being of 6,037 members by providing loan and savings services at competitive rates. Pocatello Simplot CU merged with Simplot Employees Credit Union on 09/01/2023. We...

Promoting the financial well being of 6,037 members by providing loan and savings services at competitive rates. Pocatello Simplot CU merged with Simplot Employees Credit Union on 09/01/2023. We changed our name at that time to Simplot Credit Union.

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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 $2,445,010

Investment Income $398,389

Other Revenue $0

TOTAL REVENUE $2,843,399

Expense Breakdown

Grants Paid $27,957

Salaries & Benefits $861,547

Fundraising Expenses $0

Other Expenses $1,637,677

TOTAL EXPENSES $2,527,181

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,843,399	$1,411,407	+1.0%
Expenses	$2,527,181	$947,622	+1.7%
Net Income	$316,218	$463,785	-0.3%

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

$120,867

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Jay Powell	Chair (Until 08-2023)	2.00	Officer Director	$0	$0	$0
Rick Phillips	Chair	2.00	Officer Director	$0	$0	$0
Gene Gallegos	Vice-Chair (From 06-2023)	2.00	Officer Director	$0	$0	$0
Kristi Borgolthaus	Secretary	2.00	Officer Director	$0	$0	$0
Suzanne Dutoit	Treasurer (From 09-2023)	2.00	Officer Director	$0	$0	$0
Jared Jackson	Board Member (From 09-2023)	1.00	Director	$0	$0	$0
Fred Bailey	Board Member	1.00	Director	$0	$0	$0
Perry Boren	Board Member	1.00	Director	$0	$0	$0
RaeLene Durrant	Board Member (From 09-2023)	1.00	Director	$0	$0	$0
Latisha Hulet	Board Member (From 09-2023)	1.00	Director	$0	$0	$0
Amy Wellard	President & CEO	40.00	Officer	$106,474	$14,393	$120,867

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	$2,843,399	$2,527,181	$55,073,395	$316,218
2022	$1,411,407	$947,622	$36,294,706	$463,785
2021	$1,350,483	$1,009,601	$34,775,621	$340,882
2020	$1,416,851	$1,076,534	$33,804,001	$340,317
2019	$1,326,786	$945,619	$30,774,019	$381,167
2018	$1,159,338	$870,986	$29,748,247	$288,352