CREDIT UNION OF DENVER (EIN 840186846) - 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

1931

Legal Domicile

Principal Officer

CHRIS WALLACE

Phone

3032341700

Tax Period

2023-01-01 to 2023-12-31

CREDIT UNION OF DENVER, founded in 1931, is a mid-sized nonprofit that reported $64.5M in total revenue in fiscal year 2023. Revenue surged 58% from the prior year, signaling strong growth momentum. Expenses of $58.9M left a modest 9% surplus.

Mission

TO BE A TRUSTED PARTNER FOR OUR MEMBERS IN REACHING THEIR FINANCIAL GOALS BY PROVIDING SUPERIOR VALUE, PRODUCTS AND SERVICE.

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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 $44,697,955

Investment Income $19,619,738

Other Revenue $195,235

TOTAL REVENUE $64,512,928

Expense Breakdown

Grants Paid $10,000

Salaries & Benefits $13,952,433

Fundraising Expenses $0

Program Expenses $58,896,863

Other Expenses $44,934,430

TOTAL EXPENSES $58,896,863

Year-over-Year Comparison

	2023	2022	Change
Revenue	$64,512,928	$40,883,372	+0.6%
Expenses	$58,896,863	$31,851,614	+0.8%
Net Income	$5,616,065	$9,031,758	-0.4%

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

179

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

$1,827,999

Total Directors

$2,400

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CARL BINGHAM	DIRECTOR	3.00	Director	$0	$0	$0
DONNA PIAZZA	DIRECTOR	3.00	Director	$0	$0	$0
GEORGE VOLENTIR	DIRECTOR	3.00	Director	$0	$0	$0
DOUG BURKE	SEC/TREAS	4.00	Director	$2,400	$0	$2,400
RUSELL SMITH	VICE CHAIRMAN	3.00	Director	$0	$0	$0
FERNANDO ROCHA	DIRECTOR	3.00	Director	$0	$0	$0
KRISTINA SAPP	CHAIRMAN	4.00	Director	$0	$0	$0
LEE ALLEN	DIRECTOR	3.00	Director	$0	$0	$0
MICHAEL CHEVARRIA	FORMER DIRECTOR	3.00	Director	$0	$0	$0
GARY GRIMSTVEDT	FORMER DIRECTOR	3.00	Director	$0	$0	$0
PAULINE BORQUEZ	FORMER DIRECTOR	3.00	Director	$0	$0	$0
SCOTT COLLINS	CFO	45.00	Officer	$281,253	$28,995	$310,248
SCHWAN HARDI	CSO	1.00	Officer	$131,233	$8,119	$139,352
CHRIS WALLACE	CFO	45.00	Officer	$419,923	$36,043	$455,966
TAMARA DANKERS	COO	45.00	Officer	$312,235	$16,632	$328,867
DAVID DILLEY	CLO	45.00	Officer	$269,367	$27,842	$297,209
FRED HOWARD	CTO	45.00	Officer	$272,688	$23,669	$296,357
RAUDEL MADERA	NETWORK INFORMATION SECURITY OFFICER	45.00	Highest	$138,831	$24,547	$163,378
KRISTIN THOMPSON	VPHR	45.00	Highest	$187,794	$20,524	$208,318
GARY JUSTICE	AVP COMPLIANCE, FRAUD & SECURITY	45.00	Highest	$161,010	$23,739	$184,749
DARIO DAMIAN	DIR OF CALL CENTER	45.00	Highest	$139,928	$15,541	$155,469
BRENDA MONTOYA	DIRECTOR OF FINANCIAL SERVICES	45.00	Highest	$142,600	$17,192	$159,792

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	$64,512,928	$58,896,863	$1,450,709,712	$5,616,065
2022	$40,883,372	$31,851,614	$1,093,899,387	$9,031,758
2021	$39,919,680	$26,439,131	$1,142,313,148	$13,480,549
2020	$41,574,401	$33,748,294	$1,032,113,074	$7,826,107
2019	$40,489,630	$30,705,387	$885,526,918	$9,784,243
2018	$36,016,721	$26,837,883	$797,284,098	$9,178,838

CREDIT UNION OF DENVER